Asana beats Q1 revenue guidance; record GAAP and non-GAAP margins; acquires StackAI

For the second quarter of fiscal 2027, Asana expects: • Revenues of $213 million to $215 million, representing year-over-year growth of 8.2% to 9.2%, inclusive of an expected contribution of approximately 50 basis points to growth from the StackAI acquisition. • Non-GAAP operating income of $18 million to $20 million, with 8.5% to 9.3% operating margin. • Non-GAAP net income per share of $0.08 to $0.09, assuming diluted weighted average shares outstanding of approximately 237 million.

Revenues: Revenues were $205.1 million, an increase of 9.5% year over year. • Operating Income/Loss: GAAP operating loss was $15.2 million, or 7% of revenues, compared to GAAP operating loss of $43.9 million, or 23% of revenues, in the first quarter of fiscal 2026. Non-GAAP operating income was $23.6 million, or 11.5% of revenues, compared to non-GAAP operating income of $8.1 million, or 4% of revenues, in the first quarter of fiscal 2026. • Net Income/Loss: GAAP net loss was $14.4 million, compared to GAAP net loss of $40.0 million in the first quarter of fiscal 2026. GAAP net loss per share was $0.06, compared to GAAP net loss per share of $0.17 in the first quarter of fiscal 2026. Non-GAAP net income was $24.4 million, compared to non-GAAP net income of $12.0 million in the first quarter of fiscal 2026. Non-GAAP diluted net income per share was $0.10, compared to non-GAAP diluted net income per share of $0.05 in the first quarter of fiscal 2026.

For fiscal 2027, Asana expects: • Revenues of $855.5 million to $863.5 million, representing year-over-year growth of 8.2% to 9.2%, inclusive of an expected contribution of approximately 50 basis points to growth from the StackAI acquisition. • Non-GAAP operating margin of at least 9.75%. • Non-GAAP net income per share of $0.37, assuming diluted weighted average shares outstanding of approximately 239 million.