Asana, Inc. (ASAN) experienced a significant surge of 21.62% in post-market trading on Thursday, following the release of its first-quarter fiscal 2027 financial results that exceeded analyst expectations across multiple key metrics.
The collaboration software firm reported quarterly adjusted earnings per share of $0.10, surpassing the consensus estimate of $0.08. Revenue for the quarter reached $205.1 million, a 9.5% year-over-year increase and slightly above the $203.6 million estimate. The company also reported a substantial beat on adjusted operating income, which came in at $23.6 million compared to an estimate of $16.1 million, while its net loss narrowed significantly from the previous year.
Concurrently, Asana announced the completion of its acquisition of StackAI, a no-code AI workflow platform focused on building and governing custom AI agents. The deal is aimed at expanding cross-system workflow orchestration for human-agent teams, which analysts believe will enhance Asana's AI product suite. The company also provided forward guidance that met or exceeded market expectations for both the second quarter and full fiscal year 2027, contributing to strong investor sentiment.