Asana surges following Q3 results, reaches new market through AI studio

Asana (NYSE:ASAN) surged during after hours trading Thursday after it released third quarter fiscal 2025 financial results that surpassed estimates, as the cloud-based task management company expects to unlock a new market through its AI studio platform.

For the quarter ended October 31, Asana reported an adjusted loss per share of -$0.02 versus the consensus estimate of -$0.07. The company reported revenue of $183.9M, which was more than the consensus of $180.66M.

For the quarter in progress, Asana expects a loss per share of -$0.01 to -$0.02, which is in line with market expectations. The company projects revenue ranging from $187.5M to $188.5M, with a midpoint just above the estimate of $187.9M.

For the full year of fiscal 2025, Asana expects revenue ranging from $723M to $724M, which would represent a year-over-year increase of 11%.

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

AI Studio is a no-code builder that lets teams design workflowa, embed AI agents without code, and deploy the workflow directly where teams are already working in Asana, the company said.

“While still early, we have seen significant demand, with customers experiencing meaningful productivity gains across their workflows,” he added. “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.”

Asana also reported that the number of customers spending $100,000 or more on an annualized basis in Q3 grew to 683, an increase of 18% year over year.