Shares of Asana, Inc. (ASAN) soared over 32% in pre-market trading on Friday, following the company's impressive fiscal third-quarter 2025 earnings results and the launch of its new AI-powered product suite.
Asana 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. Revenue grew by a solid 10.4% year-over-year to $183.9 million, surpassing expectations of $180.7 million.
The strong performance was driven by robust 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, and an impressive 18% rise in the company's $100,000+ annualized recurring revenue (ARR) customer count 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.
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