Asana reports Q3 EPS (2c), consensus (7c)

Reports Q3 revenue $183.9M, consensus $180.7M. “The launch of AI Studio is the birth of a new category, unlocking a massive Total Addressable Marker and growth opportunity for the company,” said Dustin Moskovitz, CEO. “While still early, we have seen significant demand, with customers experiencing meaningful productivity gains across their workflows. The productivity benefits and early traction not only validate the market demand for AI-powered work management solutions but also underscore Asana’s (ASAN) leadership position in this space.” “We delivered a solid quarter with stabilizing revenue growth, improving in-quarter net retention, and expansion with large customers,” said Sonalee Parekh, CFO. “As we execute our plan, we’re demonstrating that growth and profitability improvements can progress in parallel. With AI Studio expanding our TAM and our commitment to driving productivity benefits and efficiencies, we see significant potential for both re-acceleration of growth and operating margin expansion.”