ASAN

EX-99.1

2 asana8-kex991q1fy27.htm

EX-99.1

Document

Exhibit 99.1

Asana Announces First Quarter Fiscal 2027 Results

Q1 revenue exceeded high end of guidance

Record Q1 GAAP operating margin, up 1,600 bps year over year;

record non-GAAP operating margin of 11.5%, up 720 bps year over year

Announces acquisition of StackAI, expanding Asana’s cross-system

workflow orchestration capabilities for human-agent teams

May 28, 2026 – San Francisco, CA – Asana, Inc. (NYSE: ASAN)(LTSE: ASAN), the operating system for human-agent teams, today reported financial results for its first quarter fiscal 2027 ended April 30, 2026.

“Asana is the operating system for human-agent teams,” said Dan Rogers, Chief Executive Officer of Asana. “We believe the real enterprise productivity unlock from AI comes when humans and agents work together across the critical workflows that run the business. Customers are increasingly using AI Studio and AI Teammates to coordinate work faster, automate complex processes, and embed AI more deeply into their operations. The addition of StackAI strengthens our position as the operating system for human-agent teams by enabling customers to coordinate complex, cross-system workflows across humans and AI agents.”

“We exceeded the high end of our guided metrics and improved NRR for the fourth consecutive quarter,” said Aziz Megji, Chief Financial Officer of Asana. “The business continues to show improving fundamentals, supported by momentum in AI product adoption, customer expansion, and operating efficiency. The acquisition of StackAI further differentiates our operating system for human-agent teams and reinforces our confidence in Asana’s long-term growth and profitability potential.”

First Quarter Fiscal 2027 Financial Highlights

•Revenues: Revenues were $205.1 million, an increase of 9.5% year over year.

•Operating Income/Loss: GAAP operating loss was $15.2 million, or 7% of revenues, compared to GAAP operating loss of $43.9 million, or 23% of revenues, in the first quarter of fiscal 2026. Non-GAAP operating income was $23.6 million, or 11.5% of revenues, compared to non-GAAP operating income of $8.1 million, or 4% of revenues, in the first quarter of fiscal 2026.

•Net Income/Loss: GAAP net loss was $14.4 million, compared to GAAP net loss of $40.0 million in the first quarter of fiscal 2026. GAAP net loss per share was $0.06, compared to GAAP net loss per share of $0.17 in the first quarter of fiscal 2026. Non-GAAP net income was $24.4 million, compared to non-GAAP net income of $12.0 million in the first quarter of fiscal 2026. Non-GAAP diluted net income per share was $0.10, compared to non-GAAP diluted net income per share of $0.05 in the first quarter of fiscal 2026.

•Cash Flow: Cash flows from operating activities were $40.2 million, compared to $6.8 million in the first quarter of fiscal 2026. Adjusted free cash flow was $34.4 million, compared to $9.9 million in the first quarter of fiscal 2026.

First Quarter Fiscal 2027 Business Highlights

•The number of Core customers, or customers spending $5,000 or more on an annualized basis, grew to 26,103, an increase of 7% year over year. Revenues from Core customers grew 10% year over year.

•The number of customers spending $100,000 or more on an annualized basis grew to 817, an increase of 12% year over year.

•Overall dollar-based net retention rate was 96%.

•Dollar-based net retention rate for Core customers was 97%.

1

Exhibit 99.1

•Dollar-based net retention rate for customers spending $100,000 or more on an annualized basis was 96%.

•Appointed Aziz Megji as Chief Financial Officer to lead Asana’s financial strategy, planning, investor relations, and capital allocation.

•Introduced AI Teammates to all customers — ready-to-deploy agents assigned like team members to lead initiatives, manage approvals, and coordinate deliverables autonomously alongside humans.

•Ranked #1 Most Innovative Company in the Workplace category by Fast Company, validating that AI agents should be shared teammates embedded in how real teams work.

•Received the Google Cloud Partner of the Year award, underscoring Asana’s position as a strategic enterprise partner for connecting work management with the broader Google ecosystem.

•Named the only vendor to earn Customers' Choice distinction in both Gartner Voice of the Customer reports for Collaborative Work Management and Adaptive Project Management and Reporting.

•Recognized global customers through 2026 Work Innovation Award winners for leveraging Asana and AI to automate workflows, increase productivity, and drive measurable business results across industries.

•Expanded customer engagement through Asana on Tour events in Boston, Los Angeles, and Dallas, providing hands-on education and best practice sharing to help organizations deepen product adoption, learn new workflows, and maximize platform value.

Financial Outlook

For the second quarter of fiscal 2027, Asana expects:

•Revenues of $213 mill

asan-202602260001477720FALSE00014777202026-02-262026-02-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 26, 2026

Asana, Inc. (Exact name of Registrant as Specified in Its Charter)

Delaware001-3949526-3912448 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)

633 Folsom Street, Suite 100 San Francisco,CA94107 (Address of Principal Executive Offices)(Zip Code)

(415) 525-3888 (Registrant’s Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Class A Common Stock, $0.00001 par valueASANNew York Stock Exchange Long-Term Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company   ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02    Results of Operations and Financial Condition. On March 2, 2026, Asana, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal year and quarter ended January 31, 2026. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. The information furnished under this Item 2.02 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

Item 8.01    Other Events.

Increase to Stock Repurchase Program

On February 27, 2026, the Board of Directors of the Company (the “Board”) approved an increase to the Company’s previously announced share repurchase program, authorizing the repurchase of up to an additional $160.0 million of the Company’s Class A common stock (the “Stock Repurchase Program”). As of January 31, 2026, approximately $39.4 million remained available for future stock repurchases under the Stock Repurchase Program, and, after the increase, the Company now has a total of $199.4 million available for future repurchases under the Stock Repurchase Program.

Stock repurchases under the Stock Repurchase Program may be made from time to time, including without limitation, open market purchases or through privately negotiated transactions and/or structured repurchase agreements with third parties, block purchases or derivative contracts, and/or pursuant to Rule 10b5-1 trading plans, subject to market conditions, applicable securities laws and other legal requirements, and other relevant factors. The Stock Repurchase Program does not obligate the Company to acquire any particular amount of Class A common stock, and may be suspended, modified, or terminated at any time, without prior notice. The number of shares to be repurchased will depend on market conditions and other factors. Repurchases under the Stock Repurchase Program are expected to be funded from existing cash and cash equivalents. The Stock Repurchase Program, as amended, has no specified expiration date and will continue until the funds committed to the Stock Repurchase Program are exhausted or such authorization is revoked by the Board.

Amendment to Credit Agreement

On February 26, 2026, the Company entered into the Fifth Amendment (the “Amendment”) to its existing credit agreement, effective November 7, 2022 (the “Credit Agreement”), for which Silicon Valley Bank, a Division of First-Cit

asan-202511300001477720FALSE00014777202025-11-302025-11-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 30, 2025

Asana, Inc. (Exact name of Registrant as Specified in Its Charter)

Delaware001-3949526-3912448 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)

633 Folsom Street, Suite 100 San Francisco,CA94107 (Address of Principal Executive Offices)(Zip Code)

(415) 525-3888 (Registrant’s Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Class A Common Stock, $0.00001 par valueASANNew York Stock Exchange Long-Term Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company   ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02    Results of Operations and Financial Condition. On December 2, 2025, Asana, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended October 31, 2025 and updated guidance for the fourth quarter and full fiscal year 2026. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. The information furnished under this Item 2.02 and in the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Resignation of Chief Operating Officer On November 30, 2025, Anne Raimondi notified the Board of Directors (the “Board”) of her decision to resign as Chief Operating Officer (“COO”) of the Company, effective as of December 31, 2025. Ms. Raimondi remains an employee of the Company, and will transition to an advisory role until March 31, 2026, as described in the Transition Services Agreement (the “Raimondi Transition Services Agreement”) filed herein as Exhibit 10.1. There were no disagreements between Ms. Raimondi and the Company, and her departure is not related to the operations, policies, or practices of the Company. Transition of General Counsel and Corporate Secretary On November 30, 2025, Eleanor Lacey notified the Board of her decision to resign as General Counsel and Corporate Secretary of the Company, effective as of December 31, 2025. Ms. Lacey remains an employee of the Company, and will transition to an advisory role until March 31, 2026, as described in the Transition Services Agreement (the “Lacey Transition Services Agreement”) filed herein as Exhibit 10.2. There were no disagreements between Ms. Lacey and the Company, and her departure is not related to the operations, policies, or practices of the Company. The Board has appointed Katie Colendich as Ms. Lacey’s successor as General Counsel and Corporate Secretary, effective as of January 1, 2026, and Ms. Colendich entered into an employment offer letter with the Company (the “Colendich Offer Letter”) on December 1, 2025. Ms. Colendich, 46, has served in several senior legal leadership roles at Asana beginning in April 2020, most recently as Deputy General Counsel of Corporate & Product/AI Legal and Assistant Corporate Secretary. Prior to joini