Asana shares surge 15% on sturdy Q3 outcomes and raised outlook

SAN FRANCISCO – Asana, Inc. (NYSE: ASAN) noticed its shares bounce 15% in after-hours buying and selling on Thursday after the work administration platform supplier reported better-than-expected third quarter outcomes and raised its full-year steerage.

The corporate posted a narrower-than-anticipated lack of $0.02 per share for Q3, beating analyst estimates of a $0.07 per share loss. Income rose 10% YoY to $183.9 million, surpassing the consensus forecast of $180.61 million.

Asana’s Q3 efficiency was pushed by strong buyer development, with the variety of clients spending $100,000 or extra yearly rising 18% YoY to 683. The corporate additionally reported stabilizing income development and bettering in-quarter internet retention charges.

“We delivered a strong quarter with stabilizing income development, bettering in-quarter internet retention, and growth with giant clients,” mentioned Sonalee Parekh, Asana’s Chief Monetary Officer.

Wanting forward, Asana raised its full-year fiscal 2025 outlook, now anticipating income of $723-724 million, up from its earlier steerage of $720.2 million. The corporate additionally narrowed its projected full-year loss to $0.15-$0.14 per share, in comparison with earlier estimates of a $0.19 per share loss.

The sturdy outcomes and upbeat forecast sign Asana’s progress in balancing development and profitability enhancements. The corporate’s current launch of AI Studio, a man-made intelligence-powered workflow builder, can also be anticipated to broaden its market alternative.

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