ASAN vs NOW

Asana positions itself as a foundational 'system of action' for the emerging Agentic Enterprise, highlighting rapid adoption of its AI Studio product and an expected launch of AI Teammates to embed agents directly into workflows. The company emphasizes its Work Graph data model and enterprise governance as enablers of persistent memory and trusted agent execution. It has expanded integrations with major AI platforms (notably an Asana app in Claude) and cites Anthropic among organizations building with Asana. Financially, Q4 FY26 revenue was $205.6M (up 9% YoY), non-GAAP operating income was $18.2M, non-GAAP net income was $19.9M, and free cash flow was $24.2M. Guidance for Q1 FY27 revenue is $202.5M–$204.5M and FY27 revenue guidance is $850M–$858M, with non-GAAP EPS guidance provided. Overall tone is bullish, with management linking AI product adoption and continued AI platform investment to durable, profitable growth while noting standard integration and macro risks.

ServiceNow presents a bullish AI-forward narrative: positioning itself as an "AI control tower" and highlighting product momentum (Now Assist, Workflow Data Fabric, Raptor, CPQ, Build Agent) and strategic moves (acquisitions of Moveworks, intent to acquire Armis and Veza). The company announced multiple partner integrations (Anthropic/Claude, OpenAI, Microsoft Agent 365, Figma) to bring foundation/frontier models and agent orchestration into its platform and announced programs (Build Program, Now Next AI, ServiceNow Store) to accelerate partner-built AI agents. Financially, Q4 2025 total revenue was $3,568M (20.5% YoY), non-GAAP gross margin 80.5%, non-GAAP operating income $1,101M, GAAP net income $401M, and non-GAAP free cash flow $2,032M. Guidance includes Q1 2026 subscription revenue of $3,650–3,655M and full-year 2026 subscription revenue $15,530–15,570M, and management links AI product adoption (Now Assist, Moveworks) to near-term guidance and long-term market opportunity.