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Sells cloud work-management software that teams use to organize, track and manage projects and tasks.
Sells cloud work-management software that teams use to organize, track and manage projects and tasks.
Customers pay a subscription priced per user and tiered by features, so revenue grows as teams add seats and move to higher tiers, and the free tier feeds the sales funnel. Co-founder Dustin Moskovitz controls the company through shares with extra votes.
Moat: narrow (switching costs, brand). Workflow lock-in from adoption, but a crowded work-management software market with strong competitors.
Headquarters: San Francisco, California, United States · Founded: 2008 · Employees: 1,767
Size Asana (ASAN) is a United States Information Technology company (Packaged Software) with a market value of $2.43B, the 1676th largest of 3,117 United States companies the cockpit tracks. Shares closed at $10.61 on 6 Nov 2026.
Performance Over six months the shares gained 60.0%, against +7.0% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 9.5% over the last twelve months (peer median +15.9%); the operating margin is -15.0% (peer median 11.2%).
Valuation It trades at 27.4× forward earnings against a peer median of 16.8× (6th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +28%, so the hurdle is -18 pp: the price already allows for a slowdown.
Backlog Backlog (remaining performance obligations) was $522M at 31 Jul 2026, up 3% on a year earlier — 0.6 years of trailing revenue. Backlog detail →
Short interest Short interest is 11.9% of the free float (15 Oct 2026).
Next results Next results expected around 1 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $828M | $791M | $724M | $653M | $547M |
| Revenue growth | — | +9% | +11% | +19% | — |
| Gross profit | $725M | $704M | $647M | $589M | $491M |
| EBITDA | -$99.4M | -$141M | -$239M | -$246M | -$386M |
| Net income | -$154M | -$189M | -$256M | -$257M | -$408M |
| Free cash flow | $112M | $77.0M | $2.64M | -$31.1M | -$167M |
| Capital expenditure | $18.1M | $13.4M | $12.3M | $13.2M | $7.16M |
| Total debt | $258M | $249M | $268M | $278M | $272M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Asana ASAN | $2.43B | +60% | +9% | -15% | 27.4× | 10.7% |
| monday.com MNDY | $3.72B | +22% | +24% | 3% | 14.2× | 23.6% |
| Atlassian TEAM | $38.7B | +5% | +26% | 4% | 28.7× | 44.7% |
| Microsoft MSFT | $3.94T | +28% | +18% | 47% | 25.5× | 17.2% |
| Adobe ADBE | $93.1B | -5% | +12% | 36% | 8.9× | 0.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ASAN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.5% | +2.5% | 10th highest of 21 |
| 6-month return | +60.0% | +7.0% | 3rd highest of 21 |
| Distance from 52-week high | -30.6% | -19.9% | 9th lowest of 21 |
| Revenue growth (TTM) | +9.5% | +15.9% | 9th lowest of 21 |
| Operating margin | -15.0% | 11.2% | 5th lowest of 21 |
| Forward P/E | 27.4× | 16.8× | 6th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 10.7% | 8.6% | 6th most demanding of 13 |
| Growth delivered (Del g) | +28.4% | +14.8% | 3rd highest of 12 |
| Hurdle (Req g minus delivered) | -17.6 pp | -5.9 pp | 2nd least demanding of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Asana ASAN | United States | $2.43B | +60% | +9% | -15% | 27.4× | 10.7% | +28.4% |
| Blackbaud BLKB | United States | $2.43B | +44% | +2% | 21% | 9.4× | -1.6% | +4.3% |
| Guangdong Aofei Data Technology 300738.SZ | China | $2.44B | -34% | +24% | 23% | 42.6× | n/a | n/a |
| ePlus PLUS | United States | $2.40B | +2% | +15% | 7% | 16.1× | 4.3% | +9.5% |
| nCino NCNO | United States | $2.40B | +28% | +9% | 9% | 15.8× | 23.9% | +23.8% |
| RAKUS 3923.T | Japan | $2.38B | +24% | +17% | 31% | 14.1× | 15.8% | +31.4% |
| Meitu 1357.HK | Hong Kong | $2.50B | -9% | +24% | 24% | 12.8× | 7.5% | +25.5% |
| Affle 3i AFFLE.NS | India | $2.36B | +6% | +20% | 18% | 40.0× | 33.0% | +39.3% |
| Money Forward 3994.T | Japan | $2.52B | +51% | +35% | 2% | 2,235.1× | n/a | n/a |
| Shanghai Suochen Information Technology 688507.SS | China | $2.31B | +97% | +32% | -2% | 196.7× | n/a | n/a |
| NetScout Systems NTCT | United States | $2.29B | -19% | +6% | 15% | 11.6× | -0.1% | +0.7% |
| Urban URBANCO.NS | India | $2.58B | +8% | +36% | -26% | n/a | n/a | n/a |
| Shijiazhuang Changshan Beiming Technology 000158.SZ | China | $2.64B | -35% | -14% | 2% | n/a | n/a | n/a |
| Schrodinger SDGR | United States | $2.23B | +125% | +9% | -59% | n/a | n/a | n/a |
| SeeWay.ai 002405.SZ | China | $2.18B | -32% | +22% | -29% | n/a | n/a | n/a |
| Ethos Technologies LIFE | United States | $2.18B | +13% | +112% | -16% | 33.9× | 24.1% | n/a |
| JWIPC Technology 001339.SZ | China | $2.72B | -19% | +41% | 21% | 21.9× | n/a | n/a |
| XD, Inc. 2400.HK | Hong Kong | $2.77B | -28% | +6% | 26% | 11.9× | 3.0% | +14.3% |
| Vertex VERX | United States | $2.77B | +14% | +11% | 1% | 17.4× | 57.9% | +14.8% |
| DoubleVerify DV | United States | $2.12B | +23% | +7% | 14% | 21.3× | 9.7% | +25.1% |
| Pitney Bowes PBI | United States | $2.11B | -1% | -4% | 25% | 9.6× | -5.4% | -11.8% |
Asana reported $522M of remaining performance obligations at 31 Jul 2026, up 3% from a year earlier and up 1% from the previous quarter. That is 0.6 years of trailing revenue already under contract. Book-to-bill last quarter: 1.02.