Asana is launching Agentic Work Management, combining its work-management platform with AI Studio and AI Teammates while shifting toward a model based on both seat subscriptions and AI consumption. AI adoption is improving enterprise customer retention and growth: large-customer net retention rose to 98%, while AI products contributed 25% of net new ARR in the second quarter, leading Asana to raise its full-year target to 20%. Despite continued AI investment and challenges in its sub-$5,000 product-led segment, Asana raised its operating-margin outlook to 10% and plans to expand agentic applications, StackAI orchestration and consumption-based revenue.
Avis Short Squeeze Shocked the Market: Are These 3 Stocks Next? Asana (NYSE:ASAN) is preparing to launch its Agentic Work Management platform, a product and packaging shift that Chief Financial Officer Aziz Megji said is intended to combine the company's collaborative work-management tools with artificial intelligence capabilities and create new consumption-based growth opportunities. Speaking at a Piper Sandler conference, Megji said the company's core premise remains centered on its "Enterprise Work Graph," which connects the people, tasks, goals and context associated with organizational work.
He said that architecture is increasingly relevant as businesses deploy AI agents alongside human workers. → 2 Stocks Breaking Out Post-FOMC With One Thing in Common How Did Peter Thiel-Backed Crypto Exchange Bullish's IPO Go? "We have been a company that has really been focused on seats and subscriptions, and now the new Asana is really around both seats and subscriptions and consumption and outcomes," Megji said. Megji described Asana's second quarter as a strong period marked by improving business health.
He said all three of the company's reported net retention rate cohorts improved, including its largest customers, whose four-quarter average net retention rose to 98% from 96%. → Generac Plugs into Amazon for an $8B AI-Powered Deal E-Commerce Wars: Asana and Monday.com Battle for the Top Spot The company attributed much of that improvement among large customers to adoption of AI products. According to Megji, 25% of Asana's customers with annual spending of at least $100,000 now use an AI product, and those customers have shown stronger retention and expansion patterns. Asana's Americas business returned to double-digit growth for the first time in two years, Megji said.
Current remaining performance obligations, or CRPO, accelerated to 11% growth during the quarter from 7% in the prior quarter, which he characterized as a leading indicator of enterprise and mid-market performance. → 3 Nimble Free Cash Flow Names With Light Assets However, the company continues to face pressure in its product-led growth, or PLG, business among customers spending less than $5,000. Megji said this segment has shifted toward smaller customers outside Asana's target industries, a mix that tends to carry higher churn and lower expansion. Overall net retention was 97%, despite improving for five consecutive quarters, he said.
Asana's customer cohorts spending $5,000 or more and $100,000 or more were trending at or above 100% net retention in the quarter. Megji said Asana will roll out Agentic Work Management, or AWM, to bring collaborative work management, Asana AI Studio and Asana AI Teammates into a unified core experience. Under the new approach, AI Studio and AI Teammates will no longer be treated as add-ons, he said.
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