Q2 2026 Asana Inc Earnings Call Transcript
Key Points
- Asana Inc (ASAN) reported a 10% year-over-year increase in total revenues, exceeding the top end of their guidance.
- The company saw strong growth in international markets, with international revenue growing 13% year over year.
- AI Studio's annual recurring revenue more than doubled quarter over quarter, indicating strong adoption and customer interest.
- Non-GAAP operating margin expanded by nearly 1,600 basis points year over year to 7%, surpassing guidance expectations.
- The number of customers spending $100,000 or more annually grew by 19% year over year, demonstrating strong customer retention and expansion.
- Asana Inc (ASAN) is experiencing top-of-funnel pressure due to changes in search behavior driven by AI and LLMs, impacting small business growth.
- The company faces potential downgrade pressure in the second half, particularly in the technology vertical.
- Despite improvements, the overall net retention rate remains at 96%, indicating room for further improvement in customer retention.
- The SMB segment is affected by evolving search dynamics, which could weigh on growth in the second half.
- There is increased buyer scrutiny and elongation in decision-making related to broader consolidation and software stack transformation efforts.
Thank you for standing by, and welcome to Asana's second-quarter and fiscal year 2026 earnings conference call. (Operator Instructions)
I would now like to hand the call over to Eva Leung, Head of Investor Relations. Please go ahead.
Good afternoon, and thank you for joining us on today's conference call to discuss the financial results for Asana's second quarter fiscal year 2026.
With me on today's call are Dustin Moskovitz, Asana's Co-Founder and Chair of the Board; Dan Rogers, our CEO; Anne Raimondi, our Chief Operating Officer and Head of Business; and Sonalee Parekh, our Chief Financial Officer.
Today's call will include forward-looking statements, including statements regarding the expected release and benefits of our product offerings, including AI Studio, and our expectation for revenue to be generated by AI Studio, our retention and expansion opportunity, our expectation for our financial outlook, including our revised full year guidance, strategic plans, our market position
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