Asana, Inc.
- Open
- 10.06
- Day high
- 10.22
- Day low
- 9.92
- Prev close
- 10.26
- Volume
- 832K
- Mkt cap
- $2.3B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 17.0
- P/S
- 2.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$809K over the last 3 months (0 open-market buys, 10 sales)
- 🏛Institutions accumulating (13F)
Asana, Inc. (ASAN) is a Technology company listed on NYSE. The stock is down 26% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 10 sales (SEC Form 4).
Asana, Inc. (ASAN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ASAN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 28, 2026 | $0.08 | $0.10 | +25.0% | $205M | +0.7% |
| Dec 2, 2025 | $0.06 | $0.07 | +12.9% | $201M | +1.0% |
| Sep 3, 2025 | $0.05 | $0.06 | +20.0% | $197M | -1.0% |
| Jun 3, 2025 | $0.03 | $0.05 | +94.3% | $187M | +0.4% |
| Mar 10, 2025 | $-0.01 | $-0.22 | -2100.0% | $188M | -1.3% |
| Dec 5, 2024 | $-0.07 | $-0.02 | +71.4% | $184M | +1.6% |
| Sep 3, 2024 | $-0.08 | $-0.05 | +37.5% | $179M | +0.6% |
| May 30, 2024 | $-0.08 | $-0.06 | +27.0% | $172M | +1.8% |
| Mar 11, 2024 | $-0.10 | $-0.04 | +60.0% | $171M | +1.5% |
| Dec 5, 2023 | $-0.11 | $-0.04 | +63.6% | $167M | +0.8% |
| Sep 5, 2023 | $-0.11 | $-0.04 | +63.6% | $162M | +2.0% |
| Jun 1, 2023 | $-0.17 | $-0.09 | +47.1% | $152M | -4.0% |
ASAN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 28, 2026 | Rogers Daniel Markdirector, officer: Chief Executive Officer | Sell | 1,655 | $10.00 |
| Aug 28, 2026 | Rogers Daniel Markdirector, officer: Chief Executive Officer | Grant | 35,496 | — |
| Aug 5, 2026 | Anderson-Copperman Kristadirector | Grant | 1,827 | — |
| Jul 2, 2026 | Rogers Daniel Markdirector, officer: Chief Executive Officer | Sell | 13,790 | $6.89 |
| Jun 30, 2026 | Colendich Katie Marieofficer: GC, Corporate Secretary | Sell | 5,242 | $6.68 |
| Jun 26, 2026 | Megji Azizofficer: Chief Financial Officer | Sell | 13,239 | $6.73 |
| Jun 24, 2026 | Megji Azizofficer: Chief Financial Officer | Sell | 6,089 | $6.65 |
| Jun 24, 2026 | Rogers Daniel Markdirector, officer: Chief Executive Officer | Sell | 26,975 | $6.66 |
| Jun 24, 2026 | Colendich Katie Marieofficer: GC, Corporate Secretary | Sell | 8,337 | $6.74 |
| Jun 24, 2026 | Megji Azizofficer: Chief Financial Officer | Sell | 25,607 | $6.66 |
| Jun 24, 2026 | Colendich Katie Marieofficer: GC, Corporate Secretary | Sell | 7,647 | $6.66 |
| Jun 24, 2026 | Sosa Veronicaofficer: Chief Accounting Officer | Sell | 11,378 | $6.66 |
| Jun 22, 2026 | Rogers Daniel Markdirector, officer: Chief Executive Officer | Grant | 654,665 | — |
| Jun 10, 2026 | Lindsay Andrewdirector | Grant | 22,378 | — |
| Jun 10, 2026 | Rosenstein Justindirector | Grant | 22,378 | — |
Source: ASAN SEC Form 4 filings, latest Aug 28, 2026. For informational purposes only — not investment advice.
See the full ASAN insider & 13F page →Asana, Inc. company profile
Overview
Asana, Inc. (NYSE:ASAN) is a work management software company founded in 2008 by Dustin Moskovitz and Justin Rosenstein, both former Facebook executives. Originally incorporated as Smiley Abstractions, Inc., the company changed its name to Asana in 2009 and went public in September 2020. Headquartered in San Francisco, California, Asana has evolved from a simple task management tool into a comprehensive work orchestration platform serving teams and organizations globally. The company currently operates at a scale of over $700 million in annual revenue and serves customers across various industries including technology, retail, healthcare, government, and financial services.
Business
Asana operates in the work management software industry, which sits at the intersection of project management, collaboration tools, and workflow automation. The company's core offering is a cloud-based platform that helps teams coordinate work from daily tasks to complex cross-functional strategic initiatives. Think of it as a digital command center where teams can plan projects, assign tasks, track progress, set deadlines, and communicate about work—all in one centralized location. The platform serves as a replacement for scattered emails, spreadsheets, and disparate tools that teams typically use to manage work. Users can create projects, break them down into tasks, assign responsibilities to team members, set due dates, and monitor progress through various views like lists, boards (similar to Kanban boards), timeline views (like Gantt charts), and calendar formats. The software enables visibility across an organization, allowing managers and executives to see how individual tasks connect to larger company goals and strategic initiatives. Asana's business operates primarily as a single segment focused on work management, though the company serves different customer tiers. Approximately 75% of revenue comes from "Core" customers who spend $5,000 or more annually, while the remaining 25% comes from smaller teams and individual users. The platform has expanded beyond basic task management to include advanced features like goal tracking, portfolio management, workflow automation, and recently, AI-powered capabilities through their "AI Studio" product. This AI component allows teams to build automated workflows where artificial intelligence can complete certain work tasks, positioning Asana as a platform for human-AI collaboration rather than just human-to-human coordination.
Revenue model
Asana operates on a Software-as-a-Service (SaaS) subscription model, generating revenue primarily through recurring monthly and annual subscriptions. The company offers different pricing tiers ranging from free basic plans for small teams to enterprise-level packages that can cost hundreds of thousands of dollars annually for large organizations. Revenue scales based on the number of user seats (individual users) and the feature complexity of the chosen plan. The company's customers are primarily businesses and organizations that need to coordinate work across teams. These range from small startups to Fortune 500 companies, with Asana noting that 73% of Fortune 500 companies use their platform. The paying customers are typically department heads, project managers, IT administrators, and executives who purchase licenses for their teams or entire organizations. Asana has recently introduced a consumption-based pricing model alongside traditional seat-based licensing through their AI Studio product. This allows customers to pay for AI-powered workflow automation based on usage, creating a new revenue stream beyond the traditional per-user subscription model. Several factors influence Asana's profit margins. Positive margin drivers include the scalable nature of software (low marginal cost to serve additional customers), the shift toward higher-value enterprise customers who pay more per seat, multi-year contracts that provide revenue predictability, and the expanding product suite that allows for upselling. Margin pressures come from intense competition in the productivity software space (competing with Microsoft, Google, Atlassian, and others), the need for continuous product development and AI investment, customer acquisition costs in a crowded market, and economic headwinds that make customers more price-sensitive and extend sales cycles. The technology sector downturn has particularly impacted growth as tech companies—historically strong customers—have reduced spending and workforce.
Competitive moat
Asana's competitive moat appears moderate but potentially strengthening through its AI initiatives. The company's primary defensive advantage lies in its "Work Graph"—a proprietary data structure that maps relationships between tasks, projects, teams, and goals across an organization. This creates a comprehensive view of how work flows through a company, which becomes more valuable as more data accumulates over time, creating switching costs for customers who have built extensive workflows and historical data within the platform. The company benefits from network effects within organizations, as Asana becomes more useful when more team members use it for coordination. Once embedded in a company's daily operations, switching to a competitor requires retraining users, migrating data, and rebuilding workflows—creating meaningful friction. Asana's expansion into AI-powered automation through AI Studio leverages this Work Graph data to provide contextual, intelligent workflow automation that competitors without similar structured work data would find difficult to replicate. However, Asana faces significant competitive threats. The work management space is highly competitive with well-funded rivals including Microsoft (with Teams and Project), Google (Workspace), Atlassian (Jira, Confluence), Monday.com, and Notion. These competitors often have broader product ecosystems, deeper integration capabilities, or lower prices. Microsoft, in particular, poses a substantial threat due to its ability to bundle work management features with its dominant Office suite. The rise of AI tools also creates disruption risk, as new entrants could potentially offer superior AI-powered productivity solutions. Additionally, the relatively low switching costs for smaller customers and the commoditization risk in basic project management features limit the strength of Asana's moat, making continuous innovation and customer value demonstration critical for maintaining competitive position.
Risks & safety
Asana presents a moderate margin of safety with improving financial health but still operating at losses and facing competitive pressures. **Cash and Solvency:** - Cash position: $184.7 million as of Q4 2025 - Positive free cash flow achieved: $9.4 million for fiscal year 2025 (improvement from -$31.1 million in 2024) - Current ratio: 1.44, indicating adequate short-term liquidity - Debt-to-equity ratio: 1.16, showing moderate leverage levels - No immediate solvency concerns given cash reserves and improving cash generation **Profitability Metrics:** - Still generating significant losses: -$255.5 million net income for fiscal year 2025 - EBITDA remains negative at -$229.5 million, though improving from prior years - Company expects to reach non-GAAP profitability in Q1 2026 - Management targeting over 1,000 basis point improvement in operating margin **Valuation Considerations:** - Price-to-book ratio: 21.7x, indicating premium valuation - Revenue multiple appears reasonable for a growing SaaS company at ~4.8x revenue - Negative earnings make traditional P/E ratios meaningless - Growth rate of 10% year-over-year suggests valuation may be stretched relative to growth **Other Factors:** - Leadership transition risk with CEO change underway - Competitive market with well-funded rivals - Dependence on continued AI innovation for differentiation
Recent development
Over the past few years, Asana has undergone significant strategic evolution, with the most transformative development being its pivot toward artificial intelligence and human-AI collaboration. The company launched AI Studio in late 2024, representing a fundamental shift from traditional task management to AI-powered workflow automation. This product allows customers to build AI agents that can complete actual work tasks rather than just organizing them, positioning Asana as a platform for coordinating both human and artificial intelligence workers. The company has also executed a decisive move upmarket toward enterprise customers, with 73% of Fortune 500 companies now using the platform. This enterprise focus has driven the development of advanced features like FedRAMP certification for government clients, enhanced security capabilities, and sophisticated goal-tracking and portfolio management tools. Revenue from customers spending over $100,000 annually has grown consistently at 17-20% year-over-year, demonstrating success in this strategic direction. Operational efficiency has become a key priority following years of heavy investment and losses. The company reduced its workforce by approximately 5% in fiscal 2025 and committed to achieving non-GAAP profitability by Q1 2026, with management targeting over 1,000 basis points of operating margin improvement. This represents a significant shift from growth-at-all-costs to sustainable, profitable growth. A major leadership transition is underway, with founder and CEO Dustin Moskovitz announcing his transition to board chair while the company searches for a new CEO. Additionally, the company recently appointed Sonalee Parekh as the new CFO, indicating broader organizational evolution as Asana matures from a founder-led startup to a more traditional enterprise software company.
ASAN company profile · for informational purposes only — not investment advice.
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