Asana (ASAN) Citi’s 2026 Global TMT Conference summary

Strategic transformation and leadership changes

• CEO and CFO roles have driven a shift toward Agentic Work Management, focusing on collaboration between humans and AI agents.

• 100% of engineering resources are now dedicated to building the human-agent operating system, with five new products launching soon for different business functions.

• Marketing allocation has shifted entirely to targeted verticals and personas, aiming to improve funnel quality and product fit.

• A new Chief Revenue Officer was brought in, with a focus on disciplined sales plays and pipeline management, resulting in consistent growth in top-line, operating margin, and NRR over recent quarters.

• Resource allocation and adherence to financial commitments remain a priority, with investments in R&D and AI capabilities, including the acquisition of StackAI.

Financial performance and guidance

• Achieved 10% year-over-year growth, marking the second consecutive quarter of acceleration, with strong KPIs and NRR improvements across all cohorts.

• Beat guidance midpoint by $2.4 million, flowing $1.5 million through to the full year, with a $1.2 million revenue recognition timing impact due to the shift to a consumption-based model.

• Enterprise segment showed strong momentum, with CRPO growth accelerating from 7% to 11% and large customer cohort growth from 12% to 16% year-over-year.

• AI product adoption is robust, with 25% of $100,000+ customers using AI products and 25% of net new ARR attributed to AI.

• Product-led growth (PLG) headwinds increased, now impacting ARR by 2.5% and revenue growth by 1–1.5% in Q3 and Q4.

Product innovation and AI integration

• Launching Agentic Work Management (AWM), a shift from collaborative work management, embedding 30 pre-built AI teammates across key business functions.

• New AI teammates are pre-skilled, context-aware, and designed to proactively assist users, aiming to bridge the AI productivity gap in enterprises.

• Introduction of Dash, an AI chief of staff, integrates data from multiple sources to automate and enrich workflows.

• AI Studio and StackAI acquisition enable visualization and automation of workflows, connecting agents and third-party systems.

• In-product nudges and seeded AI requests are designed to drive adoption, with five free requests per user per month to encourage trial and usage.