Asana, Inc. (NYSE:ASAN) reported better-than-expected third-quarter financial results and issued FY25 guidance above estimates on Thursday.
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 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.
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.
Asana shares climbed 43.5% to trade at $22.16 on Friday.
These analysts made changes to their price targets on Asana following earnings announcement.
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