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 are finally showing up in cash, as operating losses shrink faster than reinvestment needs.
Over three fiscal years, operating margin improved from-74.5% to-24.9% while gross margin barely moved. Free cash flow also swung from-$165.4M to$86.6M , suggesting the business is now scaling its overhead and converting sales into cash far better than the income statement alone implies.
Liquidity cushion is thinner than it was: the current ratio fell to 1.2x from 1.7x over recent years. With equity at
Capital intensity is low, so once operations stopped consuming cash, free cash flow nearly matched operating cash flow; this model is more expense-heavy than asset-heavy. Capex was only
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). 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 has an operating margin of -24.9%, meaning the company retains $-25 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -36.9% the prior year.
Asana Inc's revenue grew 9.2% year-over-year to $790.8M, a solid pace of expansion. This earns a growth score of 50/100.
Asana Inc has elevated debt relative to equity (D/E of 4.48), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 11/100, reflecting increased financial risk.
Asana Inc's current ratio of 1.18 is below the typical benchmark, resulting in a score of 19/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Asana Inc has a free cash flow margin of 10.9%, earning a moderate score of 38/100. The company generates positive cash flow after capital investments, but with room for improvement.
Asana Inc generates a -122.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -108.1% the prior year.
Asana Inc passes 4 of 9 financial strength tests. 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 $199.8M 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 -122.6% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 14.5 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 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $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+3.9% | $172.4M |
| Cost of Revenue | $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+12.3% | $17.8M |
| Gross Profit | $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+3.0% | $154.6M |
| R&D Expenses | $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+10.1% | $82.8M |
| SG&A Expenses | $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+7.5% | $33.7M |
| Operating Income | -$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-16.1% | -$66.2M |
| Interest Expense | $793K+3.4% | $767K-3.8% | $797K+0.8% | $791K-7.2% | $852K-8.8% | $934K-2.2% | $955K+1.4% | $942K |
| Income Tax | $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+23.3% | $971K |
| Net Income | -$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-13.3% | -$63.7M |
| EPS (Diluted) | N/A | $-0.29-45.0% | $-0.20-17.6% | $-0.17 | N/A | $-0.25+19.4% | $-0.31-10.7% | $-0.28 |
ASAN Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $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-3.4% | $978.2M |
| Current Assets | $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-5.0% | $674.1M |
| Cash & Equivalents | $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-1.2% | $222.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $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-34.8% | $99.8M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $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-0.7% | $658.3M |
| Current Liabilities | $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-0.1% | $393.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $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-8.7% | $319.9M |
| Retained Earnings | -$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-5.9% | -$1.6B |
ASAN Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $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+935.5% | -$1.9M |
| Capital Expenditures | $1.2M+77.6% | $669K-48.4% | $1.3M+103.3% | $638K-57.6% | $1.5M+9.7% | $1.4M-18.8% | $1.7M+68.7% | $1.0M |
| Free Cash Flow | $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+588.6% | -$2.9M |
| Investing Cash Flow | $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+100.3% | -$21.4M |
| Financing Cash Flow | -$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-293.3% | $9.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $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 | $0 |
ASAN Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 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%-0.8pp | 89.7% |
| Operating Margin | -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%-4.5pp | -38.4% |
| Net Margin | -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%-3.3pp | -37.0% |
| Return on Equity | -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%-4.8pp | -19.9% |
| Return on Assets | -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%-1.1pp | -6.5% |
| Current Ratio | 1.18-0.2 | 1.40-0.0 | 1.41-0.1 | 1.47+0.0 | 1.44-0.0 | 1.49-0.1 | 1.63-0.1 | 1.71 |
| Debt-to-Equity | 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+0.2 | 2.06 |
| FCF Margin | 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%+9.6pp | -1.7% |
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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 -122.6% 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 $844.1M 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 1.18 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 4.48 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 -22.4% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Asana Inc's Piotroski F-Score?
Asana Inc (ASAN) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 20 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.