Shares of Asana, Inc. (ASAN) soared 10.96% in pre-market trading on Thursday following the release of its second-quarter fiscal 2026 financial results, which exceeded analyst expectations and showcased the company's growing AI capabilities.
The work management platform reported adjusted earnings per share of $0.06, beating the consensus estimate of $0.05. Revenue for the quarter came in at $196.9 million, a 10% increase year-over-year and above the expected $193 million. Asana's adjusted operating income of $14 million also surpassed analyst projections, demonstrating improved profitability and operational efficiency.
Several key factors contributed to Asana's strong performance and positive investor reaction: 1. AI Studio Traction: The company reported that AI Studio's annual recurring revenue (ARR) more than doubled quarter-over-quarter, with strengthening adoption in new and existing customer workflows. 2. Improved Profitability: Asana delivered a 7% non-GAAP operating margin, representing a significant improvement from -9% in the same quarter last year. 3. International Growth: International revenue rose 13% year-over-year, outpacing US growth of 8%, indicating strong global demand for the platform. 4. Customer Expansion: The number of customers spending $100,000 or more annually grew 19% year-over-year to 770, reflecting Asana's success in attracting and retaining high-value clients.
Looking ahead, Asana raised its fiscal 2026 revenue guidance to between $780 million and $790 million, representing 8% to 9% year-over-year growth. The company also increased its non-GAAP operating margin outlook, projecting full-year non-GAAP earnings per share of $0.23 to $0.25.
Dan Rogers, Asana's CEO, emphasized the company's position in the growing AI-powered productivity market: "Every company is looking for the productivity unlock from AI. With the Asana Work Graph and AI Studio, we bring AI workflows directly into the flow of work — so teams move faster, operate more efficiently, and deliver stronger business outcomes."
While the company noted some challenges, such as top-of-funnel pressure in the SMB segment due to evolving search landscapes, investors appeared to focus on the positive results and outlook. The stock's significant jump reflects growing confidence in Asana's ability to execute its AI-driven strategy and achieve sustained profitability in the competitive collaborative work management space.