Asana, Inc. (NYSE:ASAN) reported its third-quarter results after Thursday's closing bell. Here's a look at the details from the report.

The Details: Asana reported quarterly losses of two cents per share, which beat the analyst consensus estimate for losses of seven cents. Quarterly revenue came in at $183.88 million, which beat the consensus estimate of $180.66 million and is an increase over sales of $166.5 million from the same period last year.

• The number of Core customers, or customers spending $5,000 or more on an annualized basis, grew to 23,609, an increase of 11% year-over-year.
• Revenues from Core customers grew 11% year-over-year.
• The number of customers spending $100,000 or more on an annualized basis grew to 683, an increase of 18%.
• Overall dollar-based net retention rate was 96%.
• Dollar-based net retention rate for Core customers was 98%.
• Dollar-based net retention rate for customers spending $100,000 or more on an annualized basis was 99%.

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“The launch of AI Studio is the birth of a new category, unlocking a massive Total Addressable Market (TAM) and growth opportunity for the company,” said Dustin Moskovitz, CEO of Asana.

“While still early, we have seen significant demand, with customers experiencing meaningful productivity gains across their workflows. The productivity benefits and early traction not only validate the market demand for AI-powered work management solutions but also underscore Asana’s leadership position in this space,” Moskovitz added.

Outlook: Asana sees fiscal 2025 adjusted losses of 15 cents to 14 cents per share, versus the loss of 19 cents estimate, and revenue of $723 million to $724 million, versus the $720.25 million estimate.

ASAN Price Action: According to Benzinga Pro, Asana shares are up 20.44% after-hours at $18.62 at the time of publication Thursday. 

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