Asana (ASAN) Bank of America 2026 Global Technology Conference summary

Strategic positioning and product evolution

• Transitioning from human-to-human collaboration to an operating system for human-agent teams, leveraging the Work Graph architecture for coordination, governance, and productivity in agentic environments.

• Introduction of three core AI products: AI Studio (workflow automation), AI Teammates (agentic execution), and StackAI (cross-system workflow orchestration), forming a multi-product platform.

• Validation of the coordination layer's importance through adoption by leading AI-first companies, such as Anthropic, which integrates Asana with LLMs for enhanced productivity.

• Expansion into new buying centers and departments, with StackAI enabling land-and-expand strategies independent of traditional collaborative work management.

• Multi-product approach broadens the addressable market and supports cross-departmental adoption, especially in IT and operations.

Pricing, packaging, and go-to-market strategy

• Four distinct pricing models: seat-based for core platform, credits for AI Studio, execution-based for AI Teammates, and platform/builder-based for StackAI, with ongoing experimentation to optimize adoption and expansion.

• Movement toward consumption-based growth as AI products drive increased usage and ROI, with blurred lines between seat and consumption models.

• Early signals from bundled trials and cross-product offers are informing future packaging strategies.

• StackAI acquisition expected to accelerate roadmap by a year, with integration and enablement investments planned to drive revenue impact primarily in the following year.

• Enablement of sales teams and targeted vertical strategies are key levers to accelerate StackAI adoption and revenue realization.

Customer adoption, expansion, and financial performance

• AI Studio and Teammates are driving expansion within existing customer cohorts, with AI Studio customers showing the strongest net revenue retention (NRR) and seat growth.

• Four consecutive quarters of in-quarter NRR improvement, with Q1 showing the largest step-up, primarily from expansion rather than retention.

• Large multi-year customer deals are structured for future upsell opportunities, particularly with AI products, and present no near-term downsell risk.

• 100K+ customer cohort saw ARR growth and strong expansion, with AI product adoption accelerating deal sizes and seat drag.

• Technology vertical returned to growth after eight quarters, driven by AI adoption and seat expansion, though guidance remains prudent due to ongoing tech sector layoffs.