Asana, Inc.

Asana, Inc.

ASANProductivity

Asana is a work management platform that helps teams plan, organize, track, and manage projects and workflows.

Key figures

Data as of Jul 2026 · Pills compare vs Apr 2026
ARR Multiple
2.6x
+0.4x
ARR
$866M
+5.5%
YoY Growth
9.9%
+0.4pp
Market Cap
$2.3B
+18.5%
Revenue (Q)
$216M
+5.5%
Gross Margin
86.0%
-1.6pp
Op. Margin
-19.1%
-11.6pp
Rule of 40
-9.2
-10.7
Magic Number
0.49
+0.51

Revenue, margins & ratios from SEC filings; market cap & ARR multiple from market data. Market cap & ARR multiple use the close of 13 Oct 2026; their pills compare vs the Jul 2026 quarter-end (2.2x).

Valuation by quarter

Current ARR Multiple: 2.2x· Forward at Q3 FY2027 guidance: 2.2x

Calculated valuation

FRAMEWORK EST.
Valuation data is not available for this company.

Strategy recommendations

Levers ranked by valuation impact
No recommendations for this company.
AI Replacement RiskELEVATED
49/ 100
LowModerateElevatedHigh

Estimated likelihood that general-purpose AI replaces this product.

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Why this rating

From the AI Risk Calculator model

Your moat is reasonable today. Stay vigilant — re-evaluate when foundation models add tool-use and long-running workflows that compress your differentiation.

What's driving the score
Workflow automationCategory baseline
mid base
Workflow complexity4/5
-6 risk
Data moat2/5
+5.5 risk
Integration depthMedium
-4 risk
SegmentMid Market
neutral
IndustryOther
neutral
Own AI integration2/5
+1.6 risk
Ways to reduce exposure
1

Without unique data that improves the product over time, the logic alone is easy to replicate. Capture proprietary signals, feedback loops, or workflows that competitors cannot synthesize.

Company overview

Asana is a work management platform that helps teams plan, organize, track, and manage projects and workflows. Dustin Moskovitz, a Facebook co-founder, and Justin Rosenstein founded it in 2008 in San Francisco. They built it to solve the coordination challenges they experienced firsthand while scaling Facebook's engineering teams.

The platform covers project management, task tracking, workflow automation, goal setting, portfolio management, resource planning, reporting, and team collaboration. Work can be viewed as lists, Kanban boards, timelines, calendars, or forms. Workflows automate repetitive coordination with rules that trigger actions based on events. If a task moves to a certain stage, Asana can automatically assign it to the next person and notify the team.

The Work Graph is the structural foundation. It connects tasks, people, goals, projects, and portfolios into an interconnected graph. This lets Asana surface cross-team dependencies, spot bottlenecks, and provide visibility that siloed tools can't match. A marketing team's campaign timeline connects to the design team's task queue and the executive team's quarterly goals.

Asana AI builds on the Work Graph to deliver AI-powered status updates, smart task prioritization, project risk identification, workflow recommendations, and natural language interaction. The rich context from the Work Graph makes the AI more useful than it would be in a simpler tool.

Asana targets knowledge workers across organizations of all sizes. Marketing, operations, IT, product development, and business operations teams are the primary users. The go-to-market combines a free tier for small teams with enterprise sales for larger accounts. Over 150,000 paying customers use it across 200+ countries.

Annual revenue is roughly $830 million with gross margins around 90%. Subscriptions run on monthly or annual billing across Starter, Advanced, Enterprise, and Enterprise+ tiers. Customers spending over $100,000 annually represent a growing segment, showing upmarket traction. The company has made strong progress toward profitability.

Asana competes with Monday.com, Smartsheet, Wrike, and broader tools like Jira and Microsoft Planner. The Work Graph data model sets it apart by creating deeper connections between goals, projects, and tasks.

With about 2,000 employees, Asana has positioned itself as a leading work management platform for distributed, cross-functional teams.

Entity information

Industry7372: Services-Prepackaged Software
Fiscal YearJan 31
IncorporatedDelaware
Phone(415) 525-3888
Address633 FOLSOM STREET, SUITE 100, SAN FRANCISCO, CA, 94107
Mailing address633 FOLSOM STREET, SUITE 100, SAN FRANCISCO, CA, 94107
EIN26-3912448
Entity typeoperating
SEC industry framework06 Technology

SaaS KPIs

Reported in at least 3 quarters

Free cash flow

24 quarters
$40.0M
Q2 FY2027+16.5%

Non-GAAP operating margin

24 quarters
10.1%
Q2 FY2027-1.4pp

Net Revenue Retention

14 quarters
97%
Q2 FY2027+1.0pp

Non-GAAP gross margin

14 quarters
87.2%
Q2 FY2027-1.2pp

Paying Customers

12 quarters
~180.0K
Q4 FY2026+6.5%

Adjusted free cash flow

6 quarters
$42.3M
Q2 FY2027+23.0%

Management outlook

Given with Q2 FY2027 results (Jul 2026)
ReportedGuidance

Guided revenue, Q3 FY2027$217.0M – $219.0M
Midpoint$218.0M
Growth vs Q2 FY2027+0.7%
Growth vs Q3 FY2026+8.4%
Q3 FY27
Revenue growth8% to 9%
Non-GAAP operating income$18M - $19M
Non-GAAP operating margin8% to 9%
Non-GAAP net income per share$0.08
Diluted weighted average shares outstandingapproximately 236 million
Full Year FY27
Revenue$858.5M - $863.5M
Revenue growth9%
Non-GAAP operating income$84.5M - $86.5M
Non-GAAP operating marginapproximately 10%
Non-GAAP net income per share$0.37
Diluted weighted average shares outstandingapproximately 239 million

Quarterly financials

Left axis in $ (Revenue, Gross profit, Net income, S&M); right axis for ratios (Rule of 40, Magic number). Click a legend item to toggle it.

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