Asana Stock Jumps 40% on Strong Q3 Results and Upgraded Outlook

Asana (NYSE:ASAN) experienced a significant boost intra-day today, with shares climbing 40% following the announcement of its third-quarter results that exceeded expectations. The company also raised its full-year guidance, signaling confidence in its ongoing growth.

For the third quarter, Asana reported a smaller-than-expected loss of $0.02 per share, outperforming analysts' predictions of a $0.07 per share loss. Revenue reached $183.9 million, marking a 10% year-over-year increase and surpassing the Street consensus estimate of $180.61 million.

The company’s performance was bolstered by robust customer growth, with the number of customers spending $100,000 or more annually rising by 18% year-over-year to 683. Additionally, Asana highlighted stabilization in revenue growth and improved in-quarter net retention rates, showcasing progress in its strategic initiatives.

Asana revised its full-year fiscal 2025 guidance upward, projecting revenue between $723 million and $724 million, an increase from the previous forecast of $720.2 million. The company also narrowed its expected full-year loss to a range of $0.15 to $0.14 per share, compared to prior guidance of a $0.19 per share loss.