Asana Reports Q1 Earnings: Earnings, Revenues Beat (CORRECTED)

Editor’s note: This story was corrected to update the earnings estimates.

Asana, Inc. ASAN released its first-quarter results after Tuesday's closing bell. Here's a look at the details from the report. 

The Details: Asana reported quarterly earnings of five cents per share, which beat the Street estimate of two cents. Quarterly revenue of $187.27 million exceeded the consensus estimate of $185.4 million.

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For the first quarter of fiscal 2026, Asana reported:

• The number of Core customers, or customers spending $5,000 or more on an annualized basis, grew to 24,297, an increase of 10% year-over-year. Revenues from Core customers grew 10% year-over-year.
• The number of customers spending $100,000 or more on an annualized basis grew to 728, an increase of 20%.
• Overall dollar-based net retention rate was 95%.

“Just months after launching AI Studio, we’ve already crossed $1 million in ARR and head into Q2 with a robust, rapidly growing global pipeline,” said Dustin Moskovitz, CEO of Asana.

“With new offerings like the AI Studio Plus package, and Smart Workflow Gallery, we’re making these transformative AI capabilities even more accessible,” Moskovitz added.

Outlook: Asana sees second-quarter adjusted earnings of four cents to five cents per share, versus the four cent estimate, and revenue in a range of $192 million to $194 million, versus the $192.19 million analyst estimate.

Asana raised its fiscal 2026 adjusted EPS guidance from a range of 19 cents to 20 cents to 22 cents, versus the 33 cent estimate, and widened its revenue outlook from a range of $782 million to $790 million to a new range of $775 million to $790 million, versus the $857.76 million estimate.

ASAN Price Action: According to data from Benzinga Pro, Asana stock was down 12% at $16.69 in Wednesday's premarket trading. 

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