Asana Shares Rise 5% as Company Beats Q3 Estimates and Raises Full-Year Outlook

Core Insights - Asana, Inc. reported third-quarter fiscal 2026 results that exceeded expectations, leading to a 5% intra-day stock rise and an upward revision of its full-year forecast due to strong execution and increasing demand for AI-driven features [1] Financial Performance - Adjusted earnings per share were $0.07, surpassing analyst expectations of $0.06 [1] - Revenue reached $201 million, exceeding the consensus estimate of $198.57 million and reflecting a 9% year-over-year increase, surpassing previous guidance [1] - Non-GAAP operating income improved to $16.3 million, representing 8% of revenue, compared to a non-GAAP operating loss of $7.6 million in the same period last year [2] - Adjusted free cash flow was $13.4 million, a significant improvement from a negative $18.2 million a year earlier [2] Customer Metrics - The number of clients spending at least $100,000 annually increased by 15% to 785 [3] - Core customers spending $5,000 or more annually grew by 8% to 25,413 [3] Future Outlook - Asana raised its fiscal 2026 revenue outlook to between $789 million and $791 million, above the consensus of $786 million [3] - Adjusted EPS is projected to be between $0.25 and $0.26, compared to analyst expectations of $0.24 [3]