Asana Inc Financials
This page shows Asana Inc (ASAN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Asana’s software economics now show a cash-burning growth model turning into self-funded expansion without materially better unit margin.
From FY2024 to FY2026, free cash flow flipped from-$25.7M to$86.6M even though gross margin was essentially unchanged. Operating margin also improved from-41.4% to-25.0% , so the cash inflection looks driven more by overhead discipline and scale across the operating structure than by a richer unit economics profile.
FY2026 still showed a net loss of
Equity fell to
Financial Health Signals
Scored against emerging companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Asana Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Asana Inc scores -2.04, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.7B) relative to total liabilities ($668.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Asana Inc passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Asana Inc generates $-0.48 in operating cash flow ($90.4M OCF vs -$189.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Asana Inc earns $-62.7 in operating income for every $1 of interest expense (-$197.3M vs $3.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Asana Inc generated $790.8M in revenue in fiscal year 2026. This represents an increase of 9.2% from the prior year.
Asana Inc's EBITDA was -$175.3M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 29.7% from the prior year.
Asana Inc reported -$189.0M in net income in fiscal year 2026. This represents an increase of 26.0% from the prior year.
Asana Inc earned $-0.80 per diluted share (EPS) in fiscal year 2026. This represents an increase of 27.9% from the prior year.
Cash & Balance Sheet
Asana Inc generated $86.6M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 825.3% from the prior year.
Asana Inc held $193.7M in cash against $0 in long-term debt as of fiscal year 2026.
Margins & Returns
Asana Inc's gross margin was 89.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 0.3 percentage points from the prior year.
Asana Inc's operating margin was -24.9% in fiscal year 2026, reflecting core business profitability. This is up 11.9 percentage points from the prior year.
Asana Inc's net profit margin was -23.9% in fiscal year 2026, showing the share of revenue converted to profit. This is up 11.4 percentage points from the prior year.
Asana Inc's ROE was -138.0% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 29.8 percentage points from the prior year.
Capital Allocation
Asana Inc invested $301.5M in research and development in fiscal year 2026. This represents a decrease of 11.7% from the prior year.
Asana Inc spent $132.2M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 68.7% from the prior year.
Asana Inc invested $3.8M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 31.9% from the prior year.
ASAN Income Statement
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $205.1M-0.2% | $205.6M+2.3% | $201.0M+2.1% | $196.9M+5.2% | $187.3M-0.6% | $188.3M+2.4% | $183.9M+2.6% | $179.2M |
| Cost of Revenue | $25.4M+1.6% | $25.0M+12.1% | $22.3M+10.3% | $20.2M+5.2% | $19.2M-1.9% | $19.6M-1.0% | $19.8M-0.9% | $20.0M |
| Gross Profit | $179.7M-0.5% | $180.6M+1.0% | $178.7M+1.1% | $176.7M+5.2% | $168.0M-0.4% | $168.7M+2.8% | $164.1M+3.1% | $159.2M |
| R&D Expenses | $66.1M-9.7% | $73.2M-0.9% | $73.8M-7.0% | $79.4M+5.7% | $75.1M-10.8% | $84.2M+1.1% | $83.3M-8.6% | $91.2M |
| SG&A Expenses | $36.4M-11.7% | $41.2M-44.8% | $74.7M+86.1% | $40.1M+8.5% | $37.0M-19.3% | $45.8M+26.3% | $36.3M+0.1% | $36.2M |
| Operating Income | -$15.2M+55.2% | -$34.0M+51.4% | -$70.0M-41.5% | -$49.5M-12.6% | -$43.9M+31.0% | -$63.6M-5.7% | -$60.2M+21.6% | -$76.8M |
| Interest Expense | $649K-18.2% | $793K+3.4% | $767K-3.8% | $797K+0.8% | $791K-7.2% | $852K-8.8% | $934K-2.2% | $955K |
| Income Tax | $1.4M+41.8% | $1.0M-22.3% | $1.3M-8.8% | $1.4M+22.6% | $1.2M-19.7% | $1.4M+23.7% | $1.2M-3.0% | $1.2M |
| Net Income | -$14.4M+55.3% | -$32.2M+52.9% | -$68.4M-41.5% | -$48.4M-20.8% | -$40.0M+35.8% | -$62.3M-8.7% | -$57.3M+20.6% | -$72.2M |
| EPS (Diluted) | $-0.06 | N/A | $-0.29-45.0% | $-0.20-17.6% | $-0.17 | N/A | $-0.25+19.4% | $-0.31 |
ASAN Balance Sheet
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $805.5M-4.6% | $844.1M+0.4% | $840.4M-4.8% | $883.2M+0.7% | $877.1M-1.6% | $891.4M+2.0% | $874.2M-7.5% | $945.4M |
| Current Assets | $550.5M-7.2% | $593.3M+1.0% | $587.4M-1.9% | $598.5M+1.7% | $588.5M-2.0% | $600.7M+5.1% | $571.4M-10.8% | $640.3M |
| Cash & Equivalents | $193.7M-3.1% | $199.8M+8.9% | $183.5M-0.4% | $184.1M-5.0% | $193.8M+4.9% | $184.7M-6.1% | $196.8M-10.3% | $219.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $73.5M-33.4% | $110.3M+52.6% | $72.3M+4.4% | $69.2M+1.7% | $68.1M-22.3% | $87.6M+30.9% | $66.9M+2.8% | $65.1M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $668.5M-3.1% | $690.0M+5.8% | $652.1M-1.0% | $658.6M+2.8% | $640.8M-3.5% | $663.9M+4.6% | $634.9M-2.8% | $653.5M |
| Current Liabilities | $479.6M-4.3% | $501.0M+19.0% | $420.9M-0.7% | $424.1M+6.2% | $399.4M-4.0% | $415.8M+8.6% | $383.0M-2.6% | $393.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $137.0M-11.1% | $154.1M-18.2% | $188.4M-16.1% | $224.6M-5.0% | $236.3M+3.9% | $227.5M-4.9% | $239.3M-18.0% | $291.9M |
| Retained Earnings | -$2.2B-2.8% | -$2.1B-4.4% | -$2.1B-5.1% | -$2.0B-4.0% | -$1.9B-3.0% | -$1.8B-3.7% | -$1.8B-6.8% | -$1.7B |
ASAN Cash Flow Statement
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $40.2M+45.9% | $27.6M+70.6% | $16.2M-59.4% | $39.8M+488.9% | $6.8M-57.3% | $15.9M+206.5% | -$14.9M-193.9% | $15.9M |
| Capital Expenditures | $2.8M+136.4% | $1.2M+77.6% | $669K-48.4% | $1.3M+103.3% | $638K-57.6% | $1.5M+9.7% | $1.4M-18.8% | $1.7M |
| Free Cash Flow | $37.4M+41.8% | $26.4M+70.3% | $15.5M-59.8% | $38.5M+529.1% | $6.1M-57.3% | $14.3M+188.2% | -$16.3M-214.8% | $14.2M |
| Investing Cash Flow | -$3.4M-108.0% | $42.6M+359.6% | $9.3M+149.0% | -$18.9M-553.0% | $4.2M+115.9% | -$26.3M-163.4% | $41.5M+74035.7% | $56K |
| Financing Cash Flow | -$41.9M+24.9% | -$55.8M-114.7% | -$26.0M+14.9% | -$30.6M-453.3% | -$5.5M-5261.7% | $107K+100.2% | -$48.9M-154.4% | -$19.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $45.0M-22.5% | $58.0M+88.5% | $30.8M+6.6% | $28.9M+98.8% | $14.5M+223.9% | $4.5M-91.8% | $54.8M+188.3% | $19.0M |
ASAN Financial Ratios
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.6%-0.2pp | 87.8%-1.1pp | 88.9%-0.8pp | 89.7%0.0pp | 89.7%+0.1pp | 89.6%+0.4pp | 89.2%+0.4pp | 88.8% |
| Operating Margin | -7.4%+9.1pp | -16.5%+18.3pp | -34.8%-9.7pp | -25.1%-1.7pp | -23.4%+10.3pp | -33.8%-1.0pp | -32.7%+10.1pp | -42.9% |
| Net Margin | -7.0%+8.7pp | -15.7%+18.4pp | -34.0%-9.5pp | -24.6%-3.2pp | -21.4%+11.7pp | -33.1%-1.9pp | -31.2%+9.1pp | -40.3% |
| Return on Equity | -10.5%+10.4pp | -20.9%+15.4pp | -36.3%-14.8pp | -21.5%-4.6pp | -16.9%+10.5pp | -27.4%-3.4pp | -24.0%+0.8pp | -24.7% |
| Return on Assets | -1.8%+2.0pp | -3.8%+4.3pp | -8.1%-2.7pp | -5.5%-0.9pp | -4.6%+2.4pp | -7.0%-0.4pp | -6.6%+1.1pp | -7.6% |
| Current Ratio | 1.15-0.0 | 1.18-0.2 | 1.40-0.0 | 1.41-0.1 | 1.47+0.0 | 1.44-0.0 | 1.49-0.1 | 1.63 |
| Debt-to-Equity | 4.88+0.4 | 4.48+1.0 | 3.46+0.5 | 2.93+0.2 | 2.71-0.2 | 2.92+0.3 | 2.65+0.4 | 2.24 |
| FCF Margin | 18.3%+5.4pp | 12.8%+5.1pp | 7.7%-11.9pp | 19.6%+16.3pp | 3.3%-4.4pp | 7.6%+16.5pp | -8.8%-16.8pp | 7.9% |
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Frequently Asked Questions
What is Asana Inc's annual revenue?
Asana Inc (ASAN) reported $790.8M in total revenue for fiscal year 2026. This represents a 9.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Asana Inc's revenue growing?
Asana Inc (ASAN) revenue grew by 9.2% year-over-year, from $723.9M to $790.8M in fiscal year 2026.
Is Asana Inc profitable?
No, Asana Inc (ASAN) reported a net income of -$189.0M in fiscal year 2026, with a net profit margin of -23.9%.
What is Asana Inc's EBITDA?
Asana Inc (ASAN) had EBITDA of -$175.3M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is Asana Inc's gross margin?
Asana Inc (ASAN) had a gross margin of 89.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Asana Inc's operating margin?
Asana Inc (ASAN) had an operating margin of -24.9% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Asana Inc's net profit margin?
Asana Inc (ASAN) had a net profit margin of -23.9% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Asana Inc's return on equity (ROE)?
Asana Inc (ASAN) has a return on equity of -138.0% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Asana Inc's free cash flow?
Asana Inc (ASAN) generated $86.6M in free cash flow during fiscal year 2026. This represents a 825.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Asana Inc's operating cash flow?
Asana Inc (ASAN) generated $90.4M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Asana Inc's total assets?
Asana Inc (ASAN) had $805.5M in total assets as of fiscal year 2026, including both current and long-term assets.
What are Asana Inc's capital expenditures?
Asana Inc (ASAN) invested $3.8M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Asana Inc spend on research and development?
Asana Inc (ASAN) invested $301.5M in research and development during fiscal year 2026.
What is Asana Inc's current ratio?
Asana Inc (ASAN) had a current ratio of 1.15 as of fiscal year 2026, which is considered adequate.
What is Asana Inc's debt-to-equity ratio?
Asana Inc (ASAN) had a debt-to-equity ratio of 4.88 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Asana Inc's return on assets (ROA)?
Asana Inc (ASAN) had a return on assets of -23.5% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Asana Inc's Altman Z-Score?
Asana Inc (ASAN) has an Altman Z-Score of -2.04, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Asana Inc's Piotroski F-Score?
Asana Inc (ASAN) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Asana Inc's earnings high quality?
Asana Inc (ASAN) has an earnings quality ratio of -0.48x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Asana Inc cover its interest payments?
Asana Inc (ASAN) has an interest coverage ratio of -62.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Asana Inc?
Asana Inc (ASAN) scores 59 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.