Asana Inc. (ASAN) shares soared over 21% in pre-market trading on Friday after the company reported robust fiscal third-quarter 2025 results and unveiled its new AI-powered product suite, driving renewed investor optimism about its growth prospects.

The work management software provider reported a non-GAAP loss of just $0.02 per share for the quarter ended October 31, 2024, significantly beating analyst estimates of a $0.07 loss. Revenues grew by an impressive 10.4% year-over-year to $183.9 million, surpassing expectations of $180.7 million.

The solid performance was driven by strong growth across key metrics, including an 11% year-over-year increase in the number of Core customers (spending $5,000 or more annually) to 23,609. Additionally, the company's $100,000+ annualized recurring revenue (ARR) customer count grew by a remarkable 18% to 683.

However, the standout announcement was the launch of Asana AI Studio, a no-code builder that enables teams to design and deploy AI-powered workflows directly within the Asana platform. According to CEO Dustin Moskovitz, this "birth of a new category" unlocks a massive Total Addressable Market (TAM) and significant growth opportunity for the company.

Encouraged by the strong results and the promise of AI Studio, Asana raised its fiscal 2025 revenue guidance to a range of $723 million to $724 million, up from the prior forecast of $719 million to $721 million. The company now expects a non-GAAP net loss of $0.14 to $0.15 per share for the full year, an improvement from the previous guidance of $0.19 to $0.20 loss per share.