Asana, Inc. · NYSE:ASAN
Asana — Q2 FY27 Earnings Presentation
46 slides from Asana's earnings presentation, Sep 3, 2026
Slide 1: Asana Investor Overview Q2 FY27
Asana Investor Overview Q2 FY27 asana.com 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation and the accompanying oral presentation include express and implied “forward-looking statementsˮ within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook, product d
Slide 3: AI has revolutionized our personal productivity
AI has revolutionized our personal productivity Write copy in seconds Draft a presentation from bullet points Code while I sleep Turn meeting notes into tasks Build prototypes from sketches Create Account POV asana.com 3
Slide 4: But there is still a gap
But there is still a gap Only 5%1 of companies feel measurable productivity gains from AI 1 Source: BCG, "The Widening AI Value Gap," September 2025. asana.com 4
Slide 5: The unlock isn't more agents, it's agentified workflows
The unlock isnʼt more agents Itʼs agentified workflows asana.com 5
Slide 6: But there are blockers to agentifying your workflows
But there are blockers to agentifying your workflows Hard to get Most agents are not Doesnʼt understand Hard to started team players history and context govern asana.com 6
Slide 7: The OS for human-agent teams
L ‘$) Oo P & ° & Enablement ¢ * Launch product néwoeks ‘rors o Sales and launch readiness fi} Launch Planner & asana The OS for iv) Prociacallsuneliedd human-agent teams Supercharge your team with Al that gets work done. Approve edits &P Product Launch : @ ; ~ UX & Research , Q Campaign Planner @ Pr
Slide 8: The Asana investment case
The Asana investment case 1 The Operating System for Human-Agent Teams, built on a differentiated foundation Built on 18 years of foundational architecture: the enterprise Work Graph®, multiplayer collaboration, shared memory, and enterprise governance. A place where humans and agents run critical w
Slide 9: The platform and portfolio
The platform and portfolio asana.com 9
Slide 10: Your agentified workflows require a system
Your agentified workflows require a system @- 6B Event Management ° e e q Campaign Execution e fil Revenue Growth e e ®- {2} Paid Media Coordination ita ° Ba Product Launches ° 8° Product Innovation . @o . (@) Sales Enablement . Rm. Release Readiness ° big Employee Experience . @ ee ae Software Mana
Slide 11: Work Graph
Work Graph® Everything your company is actually doing, on a single living plan. asana.com 11
Slide 12: Multiplayer, Shared Memory, Enterprise Governance
Multiplayer Shared Memory Enterprise Governance Humans and agents on the same Every workflow starts Every agent named and plan, moving work forward together. smarter than the last. governed, from day one. asana.com 12
Slide 13: The Asana Platform
The Asana Platform asana.com 13
Slide 14: AI Engine
AI Engine Pre-built AI agents that work alongside your team inside real workflows AI Teammates AI Automation AI Insights AI Workflows AI Assistant asana.com 14
Slide 15: Onboarded Teammates, ready for you
Onboarded Teammates, ready for you asana.com 15
Slide 16: Agentic Apps
Agentic Apps asana.com 16
Slide 17: Introducing new agentic apps
Introducing 5 new agentic apps Where humans + agents workflow together Agentic Work Asana Client Asana Service Command by StackAI Management Management Management Asana by Asana for cross-functional for teams for service for developer for every critical teams delivering client teams teams workflow w
Slide 18: Agentic Work Management
Agentic Work Management One easy button for AI productivity across every team GENERALLY AVAILABLE SEPTEMBER 2026 Ready-to-go agents waiting to supercharge your teams 30 prebuilt teammates for marketing, ops, and IT. Preapproved, preauthorized, ready to work. Build automations for your everyday tasks
Slide 19: Asana Client Management
Asana Client Management Every client, every project, every conversation – one place EARLY ACCESS Keep clients in the loop without the overhead Unify all communication, files, and approvals in a curated client portal so clients always know where things stand without a single status call. Free your te
Slide 20: Asana Service Management
Asana Service Management One AI-native ESM for HR, IT, Facilities and Legal EARLY ACCESS Instant AI resolutions in the flow of work A 24/7 AI agent resolves 50% of routine requests through Slack, email, or Asana portal before they ever reach a human Self-learning knowledge base that increases AI res
Slide 21: Command by Asana
Command by Asana Ship faster with humans and agents in sync EARLY ACCESS SEPTEMBER 2026 Stay in flow Command automatically catalogs the decisions, context, and next steps agents need to stay efficient and keep moving. Engineers spend less time unblocking agents and more time on whatʼs next. Releases
Slide 22: StackAI by Asana
StackAI by Asana Agentic workflow automation, connected to every system you use GENERALLY AVAILABLE Automate any workflow, no code required Drag-and-drop workflow builder. Deploy complex automations in minutes. Hundreds of native integrations, ready to go Connect agentic workflows to Salesforce, Ora
Slide 23: By building scalable workflows and intentionally leveraging AI
“By building scalable workflows and intentionally leveraging AI, weʼve increased visibility and speed while reducing the manual friction that previously 9x faster speed-to-market 1,200+ hours saved annually existed between teams.ˮ Planning timelines compressed from weeks to days Rachel Skaff SVP of
Slide 24: Our teams are focused on rethinking how work flows
“Our teams are focused on rethinking how work flows across the organization to ensure we are prioritizing high-impact initiatives that deliver real value to our 90% reduction in campaign setup time 2,936 hours of manual work saved per customers.ˮ year 1214 hours of manual campaign setup Simone Will
Slide 25: AI Studio and AI Teammates are creating a new growth and expansion vector
AI Studio and AI Teammates are creating a new growth and expansion vector Adoption is broadening across our largest customers 25% 25% 20% of Q2 net new ARR from AI Studio and AI of customers spending $100,000+ have of net new ARR expected from AI Teammates1 purchased AI Studio or AI Teammates pro
Slide 26: Scale and Momentum
Scale and Momentum asana.com 26
Slide 27: Building our agentic future from a position of category leadership
Building our agentic future from a position of category leadership 92% Willingness to recommend 3 Leader in the Gartner® Magic Asana Received a Gartner® Quadrant™ for Collaborative Work Peer Insights™ Customerʼs Management 1 and Adaptive Project Choice distinction 3 Management and Reporting 2 "Asana
Slide 28: A large global installed base to drive our next phase of growth
A large global installed base to drive our next phase of growth >180K >200 41% Paying customers Countries and territories of revenue outside US asana.com Note: All metrics as of the quarter ended July 31, 2026. 28
Slide 29: Driving the agentic transformation for the world's leading brands
Driving the agentic transformation for the world's leading brands asana.com 29
Slide 30: Financials
Financials asana.com 30
Slide 31: Financial highlights - Q2FY27
Financial highlights - Q2FY27 $216M Q2 revenue 10% Q2 revenue growth 16% Customer growth from $100K+ customers 98% Dollar-based net retention 10% Non-GAAP operating margin 20% Adjusted free cash flow margin $100K+ customers Note: Growth rate is year-over-year. All metrics as of quarter ended July 31
Slide 32: Revenue growth
Revenue growth Q2 revenue of $216M, up 10% year over year Annual revenue: FY26 Quarterly revenue: Q2FY27 9% Y|Y 10% Y|Y $216M $206M $205M $791M $201M $197M $724M asana.com Note: Growth rate is year-over-year. Q2 FY27 revenue growth includes approximately 50 basis points of contribution from StackAI,
Slide 33: Dollar-based net retention rate
Dollar-based net retention rate Net retention improved to 98% in both customer cohorts ● Core customers ● Customers spending $100K 98% 98% 97% 97% 97% 96% 96% 96% 96% 95% Note: We calculate our dollar-based net retention rate by comparing our revenues from the same set of customers in a given quart
Slide 34: Customer growth
Customer growth Customers spending $100K or more grew 16% year over year Number of Core customers Number of customers spending $100K+ 7 % Y|Y 16% Y|Y 890 26,778 25,006 770 Note: Asana defines Core customers as those organizations on a paid subscription plan that had $5,000 or more in annualized GAAP
Slide 35: Non-GAAP margins
Non-GAAP margins Operating margin expanded 300 bps while investing behind AI products 90% 89% 90% 89% 88% 88% 87% Non-GAAP Gross margin 7% 11% Non-GAAP 10% 8% 9% Operating margin 7% 6% asana.com Note: We utilize certain non-GAAP financial measures to assist in understanding and evaluating our cor
Slide 36: Expand FY27 non-GAAP operating margin to 10%
Expand FY27 non-GAAP operating margin to 10%, with levers to drive further improvement Non-GAAP operating margin Operating leverage as we scale our business on a mid-80s → gross margin base 10% Deploying AI Studio and AI Teammates, and other AI tools 7% → internally to drive productivity and effic
Slide 37: Update on capital allocation
Update on capital allocation 1 Q2FY27 - repurchased $51.5 million of Class A common Stock, or 7.4 million shares, at an average price of $6.92 per share. 2 In February 2026 - our board increased our share repurchase authorization by $160 million. 3 As of July 31, 2026, Asana had $102.9 million avail
Slide 38: Guidance summary
Guidance summary Q3FY27 Guidance Revenue 1 $217M $219M QUARTERLY Revenue growth 8% 9% Non-GAAP operating income $18M $19M Non-GAAP operating margin 8% 9% FY27 Guidance Revenue 1 $858.5M $863.5M ANNUAL Revenue growth 9% Non-GAAP operating income $84.5 M $86.5M Non-GAAP operating margin 10
Slide 39: FY27 Priorities to drive growth
FY27 Priorities to drive growth Scale the OS for Reimagine the GTM Operate with Human-Agent PLG Experience Excellence Speed and Teams Discipline → Make AI products core to → Launch Agentic Work → Scale the StackAI → Build out lower cost R&D the Asana experience by Management in self-serve, cross-sel
Slide 40: Asana's mission
ASANAʼS MISSION Help humanity thrive by enabling the world's teams to work together effortlessly asana.com 40
Slide 41: Appendix
Appendix asana.com 41
Slide 42: Asana Admin Controls and Security
Asana Admin Controls and Security Private and secure 100,000 of the world's most innovative enterprises trust Asana to keep their data safe GLBA SOC 2 CSA STAR HIPAA GDPR ISO International CCPA FERPA Type 2 Level 1 Standards Connected Connect to hundreds of pre-built integrations with your favori
Slide 43: Environmental, Social, and Governance
43 Environmental, Social, and Governance We aim to build a resilient, sustainable business that will deliver impact for years to come Sustainability performance measured by leading ESG ratings Access our ESG report and AI ESG helpbot, conversant in our ESG strategy and metrics, at https://investors.
Slide 44: GAAP to non-GAAP reconciliation
44 GAAP to non-GAAP reconciliation FY25 FY26 FY27 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Reconciliation of gross margin GAAP gross margin 89.3% 89.7% 89.7% 88.9% 87.8% 89.0% 87.6% 86.0% Non-GAAP adjustments 0.2% 0.2% 0.3% 0.2% 0.3% 0.3% 0.8% 1.2% Non-GAAP gross margin 89.5% 89.9% 90.0% 89.1% 88.1% 89.3% 88.4% 87.2
Slide 45: GAAP to non-GAAP reconciliation
45 GAAP to non-GAAP reconciliation FY25 FY26 FY27 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Reconciliation of adjusted free cash flow and adjusted free cash flow margin Net cash provided by (used in) 14,925 6,764 39,835 16,172 27,590 90,361 40,244 46,046 operating activities Purchase of property and equipment 5,569
Slide 46: Thank you
Thank you asana.com 46