Asana (ASAN)


Market Price (9/8/2026): $8.84 | Market Cap: $2.0 BilSector: Information Technology | Industry: Application Software

Asana (ASAN)


Market Price (9/8/2026): $8.84
Market Cap: $2.0 Bil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%

Attractive yield
FCF Yield is 5.5%

Megatrend and thematic drivers
Megatrends include Cloud Computing, and Future of Work. Themes include Software as a Service (SaaS), Digital Collaboration & Work Management, Show more.

Weak multi-year price returns
2Y Excs Rtn is -74%, 3Y Excs Rtn is -130%

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -160 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -19%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 24%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12%

Key risks
ASAN key risks include [1] an inability to differentiate its platform in a highly competitive market, Show more.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%
1 Attractive yield
FCF Yield is 5.5%
2 Megatrend and thematic drivers
Megatrends include Cloud Computing, and Future of Work. Themes include Software as a Service (SaaS), Digital Collaboration & Work Management, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -74%, 3Y Excs Rtn is -130%
4 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
5 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -160 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -19%
6 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 24%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -12%
8 Key risks
ASAN key risks include [1] an inability to differentiate its platform in a highly competitive market, Show more.

ASAN in ETFs

Weight = ASAN's share of each fund

VTI0.00%
ITOT0.00%
IWM0.03%
VB0.01%
IWO0.06%
IGV0.03%
VTWO0.03%
VBK0.02%
+4 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/4/2026

Asana (ASAN) stock has gained about 15% since 5/31/2026 because of the following key factors:

1. Strong Q1 Fiscal Year 2027 Financial Performance.

Asana announced its fiscal Q1 2027 results, which ended April 30, 2026, on May 28, 2026. The company reported earnings per share (EPS) of $0.10, surpassing analyst forecasts of $0.07 by 42.86%. Revenue reached $205.1 million, exceeding estimates and marking a 9.5% year-over-year growth. Furthermore, Asana demonstrated enhanced profitability with a non-GAAP operating margin of 11.5%, a substantial 720 basis point improvement compared to the previous year. These robust results and improved financial efficiency contributed positively to the stock's trend early in the specified period.

2. Accelerated AI Product Momentum and Strategic Initiatives.

Asana showcased significant traction in its artificial intelligence (AI) offerings during this period. AI products, including AI Studio and AI Teammates, generated approximately 25% of net new annual recurring revenue (ARR) in fiscal Q2 2027, which ended July 31, 2026, an increase from 17% in fiscal Q1 2027. More than 25% of customers spending over $100,000 annually have adopted Asana's AI tools. The company also announced the upcoming launch of its "Agentic Work Management" offering in mid-September, integrating AI Teammates, AI Studio, and Asana Dash across all paid tiers. Additionally, the acquisition of StackAI aimed to expand cross-system workflow orchestration capabilities, reinforcing Asana's strategic focus on AI-driven growth.

Show more
Updated on 9/4/2026

Asana (ASAN) stock has gained about 15% since 5/31/2026 because of the following key factors:

1. Strong Q1 Fiscal Year 2027 Financial Performance.

Asana announced its fiscal Q1 2027 results, which ended April 30, 2026, on May 28, 2026. The company reported earnings per share (EPS) of $0.10, surpassing analyst forecasts of $0.07 by 42.86%. Revenue reached $205.1 million, exceeding estimates and marking a 9.5% year-over-year growth. Furthermore, Asana demonstrated enhanced profitability with a non-GAAP operating margin of 11.5%, a substantial 720 basis point improvement compared to the previous year. These robust results and improved financial efficiency contributed positively to the stock's trend early in the specified period.

2. Accelerated AI Product Momentum and Strategic Initiatives.

Asana showcased significant traction in its artificial intelligence (AI) offerings during this period. AI products, including AI Studio and AI Teammates, generated approximately 25% of net new annual recurring revenue (ARR) in fiscal Q2 2027, which ended July 31, 2026, an increase from 17% in fiscal Q1 2027. More than 25% of customers spending over $100,000 annually have adopted Asana's AI tools. The company also announced the upcoming launch of its "Agentic Work Management" offering in mid-September, integrating AI Teammates, AI Studio, and Asana Dash across all paid tiers. Additionally, the acquisition of StackAI aimed to expand cross-system workflow orchestration capabilities, reinforcing Asana's strategic focus on AI-driven growth.

3. Improved Customer Retention and Upmarket Growth.

The company exhibited a strengthening core business through improved customer metrics. Asana's dollar-based net retention rate advanced to 97% in fiscal Q2 2027, marking the fifth consecutive quarter of improvement. Current remaining performance obligations (cRPO) growth also accelerated to 11% in fiscal Q2 2027, up from 8% in fiscal Q1 2027. Furthermore, Asana's base of enterprise customers, those paying more than $5,000 annually, grew to 26,778 in fiscal Q2 2027, reflecting successful efforts in attracting and expanding higher-value customer relationships.

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Stock Movement Drivers

Fundamental Drivers

The 14.4% change in ASAN stock from 5/31/2026 to 9/7/2026 was primarily driven by a 8.3% change in the company's P/S Multiple.
(LTM values as of)53120269072026Change
Stock Price ($)7.708.8114.4%
Change Contribution By: 
Total Revenues ($ Mil)8098282.4%
P/S Multiple2.32.58.3%
Shares Outstanding (Mil)2382313.2%
Cumulative Contribution14.4%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/7/2026
ReturnCorrelation
ASAN14.4% 
Market (SPY)1.8%13.3%
Sector (XLK)-2.0%-12.8%

Fundamental Drivers

The 24.1% change in ASAN stock from 2/28/2026 to 9/7/2026 was primarily driven by a 12.5% change in the company's P/S Multiple.
(LTM values as of)22820269072026Change
Stock Price ($)7.108.8124.1%
Change Contribution By: 
Total Revenues ($ Mil)7748287.1%
P/S Multiple2.22.512.5%
Shares Outstanding (Mil)2382313.0%
Cumulative Contribution24.1%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/7/2026
ReturnCorrelation
ASAN24.1% 
Market (SPY)12.6%4.6%
Sector (XLK)35.1%-0.7%

Fundamental Drivers

The -39.7% change in ASAN stock from 8/31/2025 to 9/7/2026 was primarily driven by a -47.1% change in the company's P/S Multiple.
(LTM values as of)83120259072026Change
Stock Price ($)14.608.81-39.7%
Change Contribution By: 
Total Revenues ($ Mil)73982812.1%
P/S Multiple4.62.5-47.1%
Shares Outstanding (Mil)2352311.8%
Cumulative Contribution-39.7%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/7/2026
ReturnCorrelation
ASAN-39.7% 
Market (SPY)20.4%18.9%
Sector (XLK)43.3%13.4%

Fundamental Drivers

The -59.0% change in ASAN stock from 8/31/2023 to 9/7/2026 was primarily driven by a -69.4% change in the company's P/S Multiple.
(LTM values as of)83120239072026Change
Stock Price ($)21.498.81-59.0%
Change Contribution By: 
Total Revenues ($ Mil)57982843.0%
P/S Multiple8.02.5-69.4%
Shares Outstanding (Mil)216231-6.2%
Cumulative Contribution-59.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/7/2026
ReturnCorrelation
ASAN-59.0% 
Market (SPY)77.1%37.5%
Sector (XLK)117.2%32.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ASAN Return152%-82%38%7%-32%-26%-66%
Peers Return37%-36%64%24%-9%-1%62%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
ASAN Win Rate67%25%50%50%50%33% 
Peers Win Rate58%28%68%57%42%49% 
S&P 500 Win Rate75%42%67%75%67%56% 

Max Drawdowns [4]
ASAN Max Drawdown-55%-83%-36%-44%-51%-60% 
Peers Max Drawdown-19%-47%-20%-26%-37%-48% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: TEAM, NOW, MSFT, WDAY, ORCL. See ASAN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/4/2026 (YTD)

How Low Can It Go

EventASANS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-26.6%-9.5%
  % Gain to Breakeven36.3%10.5%
  Time to Breakeven46 days24 days

Compare to TEAM, NOW, MSFT, WDAY, ORCL

In The Past

Asana's stock fell -7.4% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 7.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventASANS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-26.6%-9.5%
  % Gain to Breakeven36.3%10.5%
  Time to Breakeven46 days24 days

Compare to TEAM, NOW, MSFT, WDAY, ORCL

In The Past

Asana's stock fell -7.4% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 7.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Asana (ASAN)

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Asana, Inc. (ASAN) operates a comprehensive work management platform designed to help teams and organizations streamline their operations. The company's core function is to enable users to orchestrate a wide array of work, ranging from managing daily tasks and individual assignments to coordinating complex, cross-functional strategic initiatives.

The main product is its intuitive cloud-based work management platform. This platform provides essential tools for planning and tracking various business processes, including managing product launches, executing marketing campaigns, and setting and monitoring organization-wide goals. It facilitates collaboration, task assignment, progress tracking, and overall project oversight, allowing teams to work more efficiently and achieve their objectives.

Asana serves a diverse global customer base, catering to individuals, team leads, and executives across numerous industries. Its clientele spans sectors such as technology, retail, education, non-profit organizations, government, healthcare, media, and financial services, highlighting the broad applicability of its work management solutions for different operational needs and organizational structures.

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AI Analysis | Feedback

Here are a few brief analogies for Asana:

  • Like Salesforce for internal team projects and work management.
  • Like Slack or Microsoft Teams, but specifically for managing and orchestrating team projects and tasks.

AI Analysis | Feedback

  • Asana Work Management Platform: A digital platform that enables individuals, teams, and executives to organize, track, and manage their work from daily tasks to large-scale initiatives.
  • Project Management: A service within the platform facilitating the planning, execution, and monitoring of specific projects such as product launches and marketing campaigns.
  • Organizational Goal Setting: A service that helps define, align, and track company-wide strategic objectives across an organization.

AI Analysis | Feedback

Asana Inc. (ASAN) primarily sells its work management platform to other companies and organizations, rather than directly to individuals in a business-to-consumer (B2C) model.

The company does not publicly disclose the specific names of its major corporate customers. Asana's business model involves providing its work management platform to a broad base of organizations, ranging from small teams to large enterprises, across diverse industries globally. Its platform is utilized by individuals, team leads, and executives within these organizations to orchestrate work, manage projects, and set organizational goals.

Based on the company's description, Asana serves customers in the following industries:

  • Technology
  • Retail
  • Education
  • Non-profit
  • Government
  • Healthcare
  • Media
  • Financial Services

While specific customer company names are not disclosed, these categories represent the types of organizations and sectors that constitute Asana's customer base.

AI Analysis | Feedback

  • Amazon.com, Inc. (AMZN)
  • Alphabet Inc. (GOOGL)

AI Analysis | Feedback

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Dustin Moskovitz, Chief Executive Officer, Co-Founder, and Board Member
Dustin Moskovitz co-founded Asana in 2008. Before Asana, he co-founded Facebook (now Meta Platforms) in 2004 with Mark Zuckerberg, serving as its first Chief Technology Officer and later as Vice President of Engineering, leaving in 2008. He was recognized as the world's youngest self-made billionaire in 2011. Moskovitz is also a co-founder of the philanthropic organization Good Ventures, which, along with his wife, Cari Tuna, is a primary funder of the Open Philanthropy Project. He is slated to transition from CEO to Board Chair in July 2025.

Aziz Megji, Chief Financial Officer
Aziz Megji assumed the role of Chief Financial Officer at Asana on March 24, 2026. Prior to this, he served as Asana's Head of Financial Planning & Analysis since December 2024, overseeing the company's annual planning, budgeting, forecasting, and performance management. His background includes senior finance leadership positions at RingCentral, NVIDIA, and Hewlett Packard Enterprise before joining Asana.

Anne Raimondi, Chief Operating Officer and Head of Business
Anne Raimondi leads and scales Asana's growth and global business operations and go-to-market teams. She co-founded One Jackson, an e-commerce startup that was acquired by TaskRabbit, and served as its CEO. Raimondi's extensive experience also includes leadership roles at companies such as Zendesk, SurveyMonkey, and early product leadership at eBay.

Saket Srivastava, Chief Information Officer
Saket Srivastava is the Chief Information Officer at Asana, where he is responsible for overseeing the IT organization, optimizing technology systems, and aligning technology strategy with business goals. He has a background in enterprise technology, having held executive positions at Square (now Block), Guidewire Software, and other prominent technology companies.
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AI Analysis | Feedback

Asana (ASAN) faces several key risks that could impact its business and financial performance.

1. Inability to Achieve and Sustain Profitability: Asana has a history of net losses and has not yet achieved sustained profitability, despite revenue growth. The company expects to continue incurring losses in the near to medium term as it prioritizes investment in growth. This ongoing lack of profitability is a significant concern for investors and raises questions about the company's long-term financial sustainability.

2. Intense Competition and Challenges in Customer Acquisition and Retention: Asana operates in a highly competitive and rapidly evolving market for work management solutions, facing established players like Microsoft and Atlassian, as well as other specialized providers. This intense competition makes it challenging for Asana to acquire new customers, maintain its market share, and retain existing clients. The company has also experienced a slowdown in customer expansion and a declining dollar-based net retention rate, indicating that existing customers are, on average, spending less.

3. Regulatory Compliance, Data Security, and AI Integration Risks: Asana, as a software-as-a-service (SaaS) provider handling sensitive business and personal information, is subject to complex and evolving domestic and international laws and regulations related to data privacy, data protection, and security. Non-compliance with these regulations or actual or perceived security breaches could lead to significant legal, financial, and reputational damage. Additionally, while Asana is investing in AI, the rapid pace of AI innovation presents both opportunities and threats. Failure to keep pace with competitor AI advancements or to successfully integrate new AI-powered features could erode Asana's competitive edge and negatively impact its market position.

AI Analysis | Feedback

The emergence of Microsoft's strategy to deeply integrate comprehensive work management capabilities directly into its ubiquitous Microsoft 365 ecosystem (via initiatives like Microsoft Loop, Planner, Project, and enhanced features within Teams) presents a clear emerging threat to Asana. This strategy aims to provide an all-in-one productivity and collaboration suite, potentially diminishing the perceived necessity of standalone work management platforms for organizations already extensively using Microsoft's software and services.

AI Analysis | Feedback

Unable to size the markets for products.

AI Analysis | Feedback

Asana (ASAN) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and market trends:

  1. Expansion within Larger Customer Accounts: Asana continues to prioritize and achieve growth by deepening its relationships with existing larger customers, specifically those categorized as "Core customers" (spending $5,000 or more annually) and "Enterprise customers" (spending $100,000 or more annually). This strategy involves increasing "wallet share" and expanding the number of paid seats within these organizations, which have consistently been Asana's fastest-growing cohorts.
  2. Advancements and Adoption of AI-Powered Products: A significant driver of future revenue is Asana's investment in artificial intelligence. The company has launched and is enhancing AI-driven features like "AI Teammates" and "AI Studio," which offer consumption-based offerings and integrate AI across the product to create agentic workflows. This focus aims to transform Asana into an "AI-driven Work Management" platform, differentiating its offering and catering to the growing demand for automation and intelligent solutions.
  3. Shift to Top-Down Enterprise Selling: Asana has been strategically pivoting its sales motion towards a "top-down" enterprise selling approach, moving away from a heavy reliance on self-service for small and medium businesses (SMBs). This shift is designed to acquire new, high-value enterprise clients and secure larger deployments by directly engaging with decision-makers in major organizations.
  4. Customer Upgrades to Higher-Tier Plans: Revenue growth is also expected from encouraging customers to transition to higher-tier subscription plans, such as "Enterprise+." This involves delivering increased value through advanced features and capabilities, prompting existing users to upgrade their service levels and expanding their commitment to the platform.

AI Analysis | Feedback

Share Repurchases

  • Asana announced a stock repurchase program on June 20, 2024, authorizing the repurchase of up to $150 million of its Class A common stock through June 30, 2025.
  • Under the program announced in June 2024, the company completed the repurchase of 16,310,754 shares for $210.6 million by February 27, 2026.
  • As of March 9, 2026, Asana expanded its stock repurchase program with an additional $160 million authorization, bringing the total available for future repurchases to $199.4 million.

Share Issuance

  • Asana's diluted average shares outstanding have shown a consistent increase over the last five fiscal years.
  • The diluted average shares outstanding grew from $185.0 million in fiscal year 2021 to $237.8 million in fiscal year 2025.
  • The increase in shares outstanding is likely influenced by stock-based compensation, a common practice for growth-oriented technology companies.

Capital Expenditures

  • Asana's capital expenditures, reported as cash outflows in financial statements, were approximately $13.5 million, $12.3 million, $13.2 million, $7.2 million, and $42.7 million for the most recent fiscal years, counting backward from fiscal year 2025.
  • The company's latest trailing twelve months (TTM) Capital Expenditure percentage was 1.74%.
  • Over the past five years, Asana's average Capital Expenditure percentage was 5.96%, with a high of 25.68% recorded on December 31, 2020, and a low of 1.19% on September 30, 2022.

Better Bets vs. Asana (ASAN)

Peer Outperformance in Application Software

ASAN has trailed 80% of its 122 Application Software peers over 5Y. Application Software ranks 11th of 12 industries in Information Technology by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Application Software constituents that ASAN has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
38%
of 153 industry peers · -34.5% return
3Y
26%
of 140 industry peers · -56.2% return
5Y
20%
of 122 industry peers · -90.4% return
null
Median price return by industry across the Information Technology sector, ranked by 5Y. Application Software is ASAN's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Electronic Manufacturing Services 9 56.1%191.0%287.9% TTMI 816% · FLEX 712% · SANM 409%
Semiconductor Materials & Equipment 27 130.8%74.9%101.8% AEHR 867% · AXTI 567% · KLAC 479%
Technology Distributors 9 30.2%70.9%87.8% CLMB 352% · AVT 169% · SNX 127%
Communications Equipment 36 19.3%75.0%71.3% AAOI 1256% · LITE 899% · ANET 762%
Electronic Components 26 49.9%60.1%64.4% CLS 3348% · BELFA 1289% · COHR 364%
Semiconductors 55 21.1%26.4%19.8% POET 1845% · MU 1343% · NVDA 935%
Technology Hardware, Storage & Peripherals 21 37.2%82.0%19.2% DELL 1107% · STX 1069% · SMCI 990%
Internet Services & Infrastructure 6 19.8%39.9%16.4% DOCN 66% · GDDY 35% · VRSN 34%
Electronic Equipment & Instruments 27 -7.3%11.5%-7.0% PI 210% · OSIS 112% · NSSC 102%
IT Consulting & Other Services 28 -23.8%-12.1%-28.5% CHRN 533058% · APLD 1245% · TSSI 665%
Application Software ← 123 -23.9%-13.6%-44.9% VIDA 181718% · INLX 4861% · PLTR 582%
Systems Software 67 -5.4%4.0%-56.1% PAYS 470% · QNC 470% · ZETA 350%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ASANTEAMNOWMSFTWDAYORCLMedian
NameAsana AtlassianServiceN.MicrosoftWorkday Oracle  
Mkt Price8.81189.58141.26499.70195.79158.78174.18
Mkt Cap2.047.90.13,710.848.0456.548.0
Rev LTM8286,57214,732331,83910,15567,35812,444
Op Inc LTM-160101,680155,2371,22022,4421,450
FCF LTM1121,3194,57166,9872,844-23,6862,082
FCF 3Y Avg421,3833,80970,8902,460-4,0911,922
CFO LTM1301,3535,308182,9353,08131,9774,194
CFO 3Y Avg561,4214,628145,8822,68723,8243,658

Growth & Margins

ASANTEAMNOWMSFTWDAYORCLMedian
NameAsana AtlassianServiceN.MicrosoftWorkday Oracle  
Rev Chg LTM9.5%26.0%22.2%17.8%13.3%17.4%17.6%
Rev Chg 3Y Avg11.0%23.0%22.5%16.1%14.8%10.6%15.5%
Rev Chg Q9.9%27.6%24.0%17.7%12.8%20.6%19.2%
QoQ Delta Rev Chg LTM2.4%6.2%5.5%4.3%3.1%5.1%4.7%
Op Inc Chg LTM26.1%107.9%4.9%20.8%58.6%24.3%25.2%
Op Inc Chg 3Y Avg22.0%54.2%55.3%20.6%290.6%17.8%38.1%
Op Mgn LTM-19.4%0.2%11.4%46.8%12.0%33.3%11.7%
Op Mgn 3Y Avg-29.3%-1.7%11.8%45.7%8.4%31.7%10.1%
QoQ Delta Op Mgn LTM1.5%3.9%-2.0%-0.0%0.3%1.0%0.7%
CFO/Rev LTM15.7%20.6%36.0%55.1%30.3%47.5%33.2%
CFO/Rev 3Y Avg6.9%27.3%38.0%50.6%29.9%39.7%33.9%
FCF/Rev LTM13.5%20.1%31.0%20.2%28.0%-35.2%20.1%
FCF/Rev 3Y Avg5.0%26.6%31.1%25.3%27.3%-4.5%25.9%

Valuation

ASANTEAMNOWMSFTWDAYORCLMedian
NameAsana AtlassianServiceN.MicrosoftWorkday Oracle  
Mkt Cap2.047.90.13,710.848.0456.548.0
P/S2.57.30.011.24.76.85.8
P/Op Inc-12.74,628.90.123.939.320.322.1
P/EBIT-13.7670.40.122.034.418.920.4
P/E-13.2-890.50.127.738.426.713.4
P/CFO15.635.40.020.315.614.315.6
Total Yield-7.6%-0.1%1,146.3%4.3%2.6%5.0%3.5%
Dividend Yield0.0%0.0%0.0%0.7%0.0%1.3%0.0%
FCF Yield 3Y Avg2.5%4.1%2,084.2%2.2%5.6%-0.9%3.3%
D/E0.10.058.00.00.10.30.1
Net D/E-0.0-0.026.0-0.00.00.30.0

Returns

ASANTEAMNOWMSFTWDAYORCLMedian
NameAsana AtlassianServiceN.MicrosoftWorkday Oracle  
1M Rtn-4.9%27.2%13.1%0.1%9.0%8.0%8.5%
3M Rtn12.7%93.7%23.7%21.6%36.2%-24.8%22.6%
6M Rtn11.5%131.1%15.9%22.5%32.2%5.5%19.2%
12M Rtn-34.5%9.9%-22.7%1.8%-15.3%-31.0%-19.0%
3Y Rtn-56.2%-8.2%17.7%53.0%-21.9%30.2%4.7%
1M Excs Rtn1.4%72.0%20.3%0.0%14.9%10.6%12.7%
3M Excs Rtn7.8%86.1%21.1%15.6%31.2%-30.0%18.4%
6M Excs Rtn-3.8%112.2%-0.9%8.2%15.1%-10.0%3.6%
12M Excs Rtn-58.5%-5.9%-40.1%-19.5%-34.0%-46.7%-37.1%
3Y Excs Rtn-129.9%-77.2%-50.9%-15.4%-90.4%-35.2%-64.1%

Financials

Segment Financials

Revenue by Segment
$ Mil20262025202420232022
Single Segment791724653547378
Total791724653547378


Price Behavior

Price Behavior
Market Price$8.81 
Market Cap ($ Bil)2.1 
First Trading Date09/30/2020 
Distance from 52W High-42.0% 
   50 Days200 Days
DMA Price$8.53$8.85
DMA Trenddownup
Distance from DMA3.3%-0.5%
 3M1YR
Volatility69.5%64.9%
Downside Capture152.20196.41
Upside Capture179.12105.93
Correlation (SPY)6.7%18.1%
ASAN Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta2.550.490.570.130.921.64
Up Beta1.98-2.31-1.89-1.39-0.231.31
Down Beta-2.91-2.70-0.17-0.530.491.27
Up Capture480%405%268%126%114%652%
Bmk +ve Days10213268138427
Stock +ve Days13253263117357
Down Capture172%102%102%61%147%112%
Bmk -ve Days11213259113324
Stock -ve Days7163062128382

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ASAN
ASAN-39.9%65.1%-0.52-
Sector ETF (XLK)43.4%26.2%1.3413.3%
Equity (SPY)19.7%12.8%1.1318.5%
Gold (GLD)24.6%29.2%0.75-3.4%
Commodities (DBC)43.8%20.3%1.67-1.9%
Real Estate (VNQ)9.1%13.6%0.392.5%
Bitcoin (BTCUSD)-28.1%43.8%-0.6322.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ASAN
ASAN-36.0%79.5%-0.21-
Sector ETF (XLK)19.7%25.9%0.6845.8%
Equity (SPY)12.8%17.2%0.5747.2%
Gold (GLD)19.1%18.8%0.824.1%
Commodities (DBC)10.7%19.5%0.436.4%
Real Estate (VNQ)1.7%18.9%-0.0135.0%
Bitcoin (BTCUSD)10.2%52.6%0.3830.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ASAN
ASAN-11.7%76.8%0.06-
Sector ETF (XLK)24.4%25.0%0.8844.7%
Equity (SPY)15.3%17.9%0.7245.1%
Gold (GLD)12.4%16.3%0.624.2%
Commodities (DBC)7.9%18.1%0.357.1%
Real Estate (VNQ)4.8%20.7%0.1932.5%
Bitcoin (BTCUSD)63.7%66.2%1.0324.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8142026
Short Interest: Shares Quantity26.2 Mil
Short Interest: % Change Since 7312026-8.1%
Average Daily Volume4.7 Mil
Days-to-Cover Short Interest5.6 days
Basic Shares Quantity230.8 Mil
Short % of Basic Shares11.4%

Earnings Returns History

Updated 9/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
9/3/2026-12.7%  
5/28/202615.6%21.2%5.1%
3/2/20261.9%8.2%-12.3%
12/2/20257.8%12.8%-3.8%
9/3/20252.8%-6.7%-5.3%
6/3/2025-20.5%-24.5%-24.9%
3/10/2025-24.2%-15.7%-17.3%
12/5/202443.5%54.1%31.6%
...
SUMMARY STATS   
# Positive11119
# Negative131214
Median Positive7.8%21.2%13.2%
Median Negative-12.7%-15.8%-19.3%
Max Positive43.5%54.1%82.5%
Max Negative-26.4%-24.5%-27.6%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
9/3/2026-12.7%  
5/28/202615.6%21.2%5.1%
3/2/20261.9%8.2%-12.3%
12/2/20257.8%12.8%-3.8%
9/3/20252.8%-6.7%-5.3%
6/3/2025-20.5%-24.5%-24.9%
3/10/2025-24.2%-15.7%-17.3%
12/5/202443.5%54.1%31.6%
9/3/2024-5.1%-15.3%-14.7%
5/30/2024-0.6%5.3%6.5%
3/11/2024-12.7%-15.8%-21.8%
12/5/2023-16.7%-19.3%-27.6%
9/5/2023-13.2%-10.9%-21.3%
6/1/2023-2.8%-1.4%-3.7%
3/8/202318.9%23.4%9.1%
12/1/2022-10.5%-21.2%-26.7%
9/7/202224.8%32.2%36.7%
6/2/2022-6.6%-10.7%-16.4%
3/9/2022-22.1%-23.8%-25.4%
12/2/2021-26.4%-18.9%-21.3%
9/1/202115.4%26.0%31.8%
6/3/20216.5%24.9%82.5%
3/10/20216.3%3.5%6.2%
12/9/20202.7%2.8%13.2%
SUMMARY STATS   
# Positive11119
# Negative131214
Median Positive7.8%21.2%13.2%
Median Negative-12.7%-15.8%-19.3%
Max Positive43.5%54.1%82.5%
Max Negative-26.4%-24.5%-27.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
07/31/202609/03/202610-Q
04/30/202605/28/202610-Q
01/31/202603/13/202610-K
10/31/202512/02/202510-Q
07/31/202509/03/202510-Q
04/30/202506/03/202510-Q
01/31/202503/18/202510-K
10/31/202412/05/202410-Q
07/31/202409/03/202410-Q
04/30/202405/30/202410-Q
01/31/202403/14/202410-K
10/31/202312/05/202310-Q
07/31/202309/05/202310-Q
04/30/202306/01/202310-Q
01/31/202303/24/202310-K
10/31/202212/01/202210-Q
Collapse to Preview
Report DateFiling DateFiling
07/31/202609/03/202610-Q
04/30/202605/28/202610-Q
01/31/202603/13/202610-K
10/31/202512/02/202510-Q
07/31/202509/03/202510-Q
04/30/202506/03/202510-Q
01/31/202503/18/202510-K
10/31/202412/05/202410-Q
07/31/202409/03/202410-Q
04/30/202405/30/202410-Q
01/31/202403/14/202410-K
10/31/202312/05/202310-Q
07/31/202309/05/202310-Q
04/30/202306/01/202310-Q
01/31/202303/24/202310-K
10/31/202212/01/202210-Q
07/31/202209/07/202210-Q
04/30/202206/03/202210-Q
01/31/202203/24/202210-K
10/31/202112/03/202110-Q
07/31/202109/03/202110-Q
04/30/202106/04/202110-Q
01/31/202103/30/202110-K
10/31/202012/10/202010-Q
07/31/202009/30/2020424B4
04/30/202008/24/2020S-1

Recent Forward Guidance

Updated 9/4/2026

Latest: Q2 2027 Earnings Reported 9/3/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2027 RevenueReported217.00 Mil218.00 Mil219.00 Mil   
Q3 2027 Non-GAAP Operating IncomeReported18.00 Mil18.50 Mil19.00 Mil   
Q3 2027 Non-GAAP Operating MarginReported8.0%8.5%9.0%   
Q3 2027 Non-GAAP Net Income per shareReported 0.08    
2027 RevenueReported858.50 Mil861.00 Mil863.50 Mil0.2% RaisedGuidance: 859.50 Mil for 2027
2027 Revenue GrowthReported 9.0%    
2027 Non-GAAP Operating IncomeReported84.50 Mil85.50 Mil86.50 Mil   
2027 Non-GAAP Operating MarginReported 10.0%  0.2%RaisedGuidance: 9.75% for 2027
2027 Non-GAAP Net Income per shareReported 0.37 0.0% AffirmedGuidance: 0.37 for 2027


Prior: Q1 2027 Earnings Reported 5/28/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2027 RevenueReported213.00 Mil214.00 Mil215.00 Mil5.2% Higher NewGuidance: 203.50 Mil for Q1 2027
Q2 2027 Non-GAAP Operating IncomeReported18.00 Mil19.00 Mil20.00 Mil18.8% Higher NewGuidance: 16.00 Mil for Q1 2027
Q2 2027 Non-GAAP Operating MarginReported8.5%8.9%9.3% 1.0%Higher NewGuidance: 7.85% for Q1 2027
Q2 2027 Non-GAAP Net Income per shareReported0.080.090.0913.3% Higher NewGuidance: 0.07 for Q1 2027
2027 RevenueReported855.50 Mil859.50 Mil863.50 Mil0.6% RaisedGuidance: 854.00 Mil for 2027
2027 Non-GAAP Operating MarginReported 9.75%  0.2%RaisedGuidance: 9.5% for 2027
2027 Non-GAAP Net Income per shareReported 0.37 1.4% RaisedGuidance: 0.36 for 2027

Q4 2026 Earnings Reported 3/2/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2027 Non-GAAP Operating ProfitReported15.00 Mil16.00 Mil17.00 Mil   
Q1 2027 RevenueReported202.50 Mil203.50 Mil204.50 Mil   
Q1 2027 Non-GAAP Operating MarginReported7.4%7.85%8.3%   
Q1 2027 Non-GAAP Net Income per shareReported0.070.070.08 0.5%RaisedGuidance: 0.07 for Q4 2026
2027 RevenueReported850.00 Mil854.00 Mil858.00 Mil8.1% Higher NewGuidance: 790.00 Mil for 2026
2027 Non-GAAP Operating MarginReported 9.5%    
2027 Non-GAAP Net Income per shareReported0.360.360.37 11.0%Higher NewGuidance: 0.26 for 2026

Q3 2026 Earnings Reported 12/2/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2026 RevenueReported204.00 Mil205.00 Mil206.00 Mil   
Q4 2026 Non-GAAP Operating IncomeReported14.00 Mil15.00 Mil16.00 Mil   
Q4 2026 Non-GAAP Net Income per shareReported 0.07    
2026 RevenueReported789.00 Mil790.00 Mil791.00 Mil0.6% RaisedGuidance: 785.00 Mil for 2026
2026 Non-GAAP Operating IncomeReported52.50 Mil53.50 Mil54.50 Mil11.5% RaisedGuidance: 48.00 Mil for 2026
2026 Non-GAAP Net Income per shareReported0.250.260.266.2%1.5%RaisedGuidance: 0.24 for 2026

Insider Activity

Updated 8/28/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Rogers, Daniel MarkChief Executive OfficerDirectSell828202610.001,65516,55019,258,310Form
2Rogers, Daniel MarkChief Executive OfficerDirectSell70220266.8913,79095,08213,045,271Form
3Colendich, Katie MarieGC, Corporate SecretaryDirectSell63020266.685,24235,0431,180,558Form
4Megji, AzizChief Financial OfficerDirectSell62620266.7313,23989,0815,150,073Form
5Colendich, Katie MarieGC, Corporate SecretaryDirectSell62420266.748,33756,2081,225,965Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Rogers, Daniel MarkChief Executive OfficerDirectSell828202610.001,65516,55019,258,310Form
2Rogers, Daniel MarkChief Executive OfficerDirectSell70220266.8913,79095,08213,045,271Form
3Colendich, Katie MarieGC, Corporate SecretaryDirectSell63020266.685,24235,0431,180,558Form
4Megji, AzizChief Financial OfficerDirectSell62620266.7313,23989,0815,150,073Form
5Colendich, Katie MarieGC, Corporate SecretaryDirectSell62420266.748,33756,2081,225,965Form
6Colendich, Katie MarieGC, Corporate SecretaryDirectSell62420266.667,64750,9211,266,389Form
7Sosa, VeronicaChief Accounting OfficerDirectSell62420266.6611,37875,766415,149Form
8Megji, AzizChief Financial OfficerDirectSell62420266.6631,696210,9915,183,104Form
9Rogers, Daniel MarkChief Executive OfficerDirectSell62420266.6626,975179,62712,690,589Form
10Megji, AzizChief Financial OfficerDirectSell33120266.1030,650187,0661,370,490Form
11Colendich, Katie MarieGC, Corporate SecretaryDirectSell32620266.425,01532,196639,586Form
12Colendich, Katie MarieGC, Corporate SecretaryDirectSell32620266.391,5009,585668,654Form
13Colendich, Katie MarieGC, Corporate SecretaryDirectSell32420266.653,57523,764695,577Form
14Parekh, Sonalee ElizabethChief Financial OfficerDirectSell32420266.6534,151227,0156,208,658Form
15Sosa, VeronicaChief Accounting OfficerDirectSell32420266.656,47943,069490,060Form
16Colendich, Katie MarieGC, Corporate SecretaryDirectSell31220267.427,30454,196802,948Form
17Lacey, Eleanor BGC, Corporate SecretaryDirectSell1223202513.5545,463615,8375,806,166Form
18Parekh, Sonalee ElizabethChief Financial OfficerDirectSell1223202513.5424,888337,10813,113,578Form
19Lacey, Eleanor BGC, Corporate SecretaryDirectSell1223202514.3155,234790,3996,784,257Form
20Parekh, Sonalee ElizabethChief Financial OfficerDirectSell1223202514.3183,6561,197,11714,210,359Form
21Raimondi, AnneChief Operating OfficerDirectSell1222202514.3162,165889,58110,045,806Form
22Raimondi, AnneChief Operating OfficerDirectSell1222202514.4776,0931,101,07211,057,718Form
23Raimondi, AnneChief Operating OfficerDirectSell1222202514.5222,198322,20412,196,534Form
24Lacey, Eleanor BGC, Corporate SecretaryDirectSell1211202515.24100,0001,524,5008,069,575Form
25Rosenstein, Justin DirectSell1210202515.12850,23312,855,4383,181,197Form
26Rosenstein, Justin DirectSell1210202514.958,215122,81415,856,433Form
27Rosenstein, Justin DirectSell1028202514.9513,701204,84415,980,317Form
28Rosenstein, Justin DirectSell1023202514.98458,8786,872,98316,214,172Form
29Rosenstein, Justin DirectSell1014202515.0714,500218,57723,235,903Form
30Rosenstein, Justin DirectSell1010202515.231,199,56018,274,81723,703,895Form
31Rosenstein, Justin DirectSell1010202515.08454,9136,860,86141,557,398Form
32Parekh, Sonalee ElizabethChief Financial OfficerDirectSell924202514.3863,374911,62215,488,013Form
33Lacey, Eleanor BGC, Corporate SecretaryDirectSell924202514.4110,570152,3147,627,588Form
34Parekh, Sonalee ElizabethChief Financial OfficerDirectSell924202514.17194,9762,763,00516,155,889Form
35Lacey, Eleanor BGC, Corporate SecretaryDirectSell924202514.1720,049284,1147,650,866Form
36Raimondi, AnneChief Operating OfficerDirectSell924202514.1728,026397,15612,222,048Form
37Moskovitz, Dustin A DirectBuy825202513.52122,4701,655,954782,862,123Form
38Moskovitz, Dustin A DirectBuy821202513.62225,0003,064,860787,001,098Form
39Moskovitz, Dustin A DirectBuy821202513.85221,9663,074,984797,276,552Form
40Moskovitz, Dustin A DirectBuy819202514.12225,0003,176,640809,393,754Form
41Moskovitz, Dustin A DirectBuy819202513.98224,2353,135,545798,502,363Form
42Moskovitz, Dustin A DirectBuy815202513.77225,0003,097,260782,984,093Form
43Moskovitz, Dustin A DirectBuy815202513.66224,8613,071,107773,779,449Form
44Moskovitz, Dustin A DirectBuy812202512.93225,0002,909,632729,734,590Form
45Moskovitz, Dustin A DirectBuy812202513.76225,0003,095,662773,295,172Form
46Moskovitz, Dustin A DirectBuy808202514.10223,9053,157,016789,305,450Form
47Moskovitz, Dustin A DirectBuy808202514.48225,0003,258,878807,564,314Form
48Moskovitz, Dustin A DirectBuy805202514.38225,0003,236,242798,719,018Form
49Moskovitz, Dustin A DirectBuy805202514.04225,0003,159,225776,551,532Form
50Moskovitz, Dustin A DirectBuy731202515.32225,0003,447,945844,072,245Form
51Moskovitz, Dustin A DirectBuy731202515.24225,0003,429,022836,010,910Form

Investor Activity (13F)

Updated Sep 8, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Westerly Capital Management, LLC$8.2 Mil2.5%36ADD +409.6%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Westerly Capital Management, LLC$8.2 Mil2.5%36ADD +409.6%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Westerly Capital Management, LLC$8.2 Mil2.5%36ADD +409.6%13F
Core Cache Last Updated: 9/7/2026