ASAN
Asana, Inc.
Next earnings Sep 1, 2026 · consensus $0.09 EPS, $218M rev
Last earnings +3.9% on 2026-05-28
$7.34
▲ +4.86%$7.34▼ -44.73%
over 1Y
L $5.46H $15.35
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+4.9%
1W+14.9%
1M-15.4%
3M+15.2%
YTD-43.4%
1Y-44.7%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 22 analysts
Buy
Cheap 89%-margin SaaS turning cash-flow positive, but 9% growth and $215M of stock comp cap the upside — own, don't chase.
Revenue $791M · FY2026
Asana is a high-quality-margin software business at a beaten-down price, and the FY2026 filing shows a genuine profitability inflection. Gross margin is 89%, GAAP net loss narrowed 26% to -$189M, and — for the first time at scale — the cash actually turned: operating cash flow hit $90.4M (up from $14.9M), with $77M free cash flow and $84.5M adjusted FCF. Management's non-GAAP operating income swung positive to $56.7M from -$40.8M a year ago. At $7.00 the stock trades at just 2.1x sales and ~21x free cash flow, which is undemanding for an 89%-gross-margin subscription model that is no longer burning cash. The board is leaning in, repurchasing $132M of stock in FY2026 (up 69%).
The problem is what justifies that cheap multiple. Revenue growth has decelerated relentlessly — from +45% (FY2022→23) to +19%, +11%, and now just +9.2% to $791M. That is the trajectory of a maturing, competitively-pressured product (collaborative work management is contested by Monday.com, Atlassian, Smartsheet and Microsoft), not a high-growth compounder. R&D spend actually fell 11.7%, which lifts near-term margins but raises questions about the durability of the product edge.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 30, 2026, 5:42 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Is ASAN a buy? The one-page verdict, explained →
Financials · annual, by fiscal year
| Line item | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | $378M | $547M | $653M | $724M | $791M |
| Gross profit | $340M | $491M | $588M | $647M | $704M |
| Operating income | -$265M | -$408M | -$270M | -$267M | -$197M |
| Net income | -$288M | -$408M | -$257M | -$256M | -$189M |
| Diluted EPS | -$1.63 | -$2.04 | -$1.17 | -$1.11 | -$0.80 |
| Net margin | -76.2% | -74.5% | -39.4% | -35.3% | -23.9% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$1.53B
EV / EBITDA—
EV / Sales1.9
EV / FCF17.7
P / FCF19.5
PEG (trailing)—
Earnings yield-11.2%
FCF yield5.1%
Quality & risk
ROIC (est.)-80.0%
Free cash flow$86.6M
Total debt$40.8M
Net cash$159M
Altman Z-Score-1.80 distress
Piotroski F-Score4/8
Capital returns
Buyback yield7.8%
Dividend yield (est.)—
Shareholder yield7.8%
Shares Δ YoY+3.2%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-06-12
Annual meeting results: board, auditor and say-on-pay votes ratified — routine
- 8-K Earnings results2026-05-28
Q1 FY27: single-digit revenue growth, sustaining positive operating cash flow
- 10-Q Quarterly report2026-05-28
Q1 FY27: single-digit revenue growth, sustaining positive operating cash flow
- 8-K Officer / director change2026-04-20
FY27 proxy: director slate, exec pay and auditor up for routine votes
- DEF 14A Proxy statement2026-04-20
FY27 proxy: director slate, exec pay and auditor up for routine votes
- 8-K Officer / director change2026-03-13
FY26: rev $791M +9%, loss narrowed 26%, $132M buybacks, $90M OCF
- 10-K Annual report2026-03-13
FY26: rev $791M +9%, loss narrowed 26%, $132M buybacks, $90M OCF
- 8-K Earnings results2026-03-02
Amendment to a prior 8-K — revised/added exhibit detail
- 8-K Officer / director change2026-03-02
Amendment to a prior 8-K — revised/added exhibit detail
Recent filings
all on EDGAR ↗4Period ending 2026-06-302026-07-02open ↗4Period ending 2026-06-302026-07-02open ↗144Filing2026-06-30open ↗4Period ending 2026-06-262026-06-30open ↗4Period ending 2026-06-242026-06-26open ↗144Filing2026-06-26open ↗4Period ending 2026-06-222026-06-24open ↗4Period ending 2026-06-222026-06-24open ↗4Period ending 2026-06-222026-06-24open ↗4Period ending 2026-06-222026-06-24open ↗144Filing2026-06-24open ↗144Filing2026-06-24open ↗
Frequently asked
- Is Asana, Inc. (ASAN) a buy?
- ASAN currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Cheap 89%-margin SaaS turning cash-flow positive, but 9% growth and $215M of stock comp cap the upside — own, don't chase.
- What is Asana, Inc.'s quality score?
- ASAN scores 49.60786027252154/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001477720, latest 10-Q filed 2026-05-28) · EODHD · Proprietary analysis · as of 6/30/2026, 9:42:32 AM.
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