Asana Inc. impressed investors with its earnings report today, beating expectations on revenue and earnings in its fiscal 2025 first quarter.

For the quarter that ended on April 30, Asana reported an adjusted loss per share of six cents, up from a loss of nine cents per share in the same quarter of last year, on revenue of $172.4 million, up 13% year-over-year. Analysts had expected an eight-cents-per-share loss on revenue of $168.8 million.

Asana reported an operating loss of $66.2 million in the quarter, slightly higher than a loss of $65.2 million in the same quarter of fiscal year 2024. But the percentage of the loss was 38% of revenue compared with 43% in the previous year. Cash flow from operations was negative $1.9 million, down from negative $14.6 million in the same quarter a year ago.

The company’s impressive figures were driven by customer growth. Asana saw the number of its customers spending $5,000 or more on an annualized basis grow 12% year-over-year, to 22,162. The top end — customers spending more that $100,000 per year — grew by 19% year-over-year, to 607.

Recent business highlights include Asana launching a new suite of artificial intelligence tools for chief information security officers in March. The tools include features such as AI-driven status updates, conditions and branching and a workflow console, which help streamline workflows and allocate tasks more efficiently. Asana said the tools “empower IT leaders to drive intelligent transformation with the right data foundation, safeguards and controls.”

“AI is transforming how we work, and Asana is delivering the ideal platform for this new era where people and AI collaborate to reach new levels of productivity and innovation,” co-founder and Chief Executive Dustin Moskovitz said in the earnings release. “With Asana’s Work Graph architected to link work and workflows to higher level objectives, Asana provides the structure and visibility for organizations to scale AI with confidence.”

For its fiscal 2025 second quarter, Asana expects an adjusted earning per share loss of eight to nine cents on revenue of $177 million to $178 million. For the full fiscal year, the company expects an adjusted loss per share of 19 to 21 cents on revenue of $719 million to $724 million.

Investors liked the numbers, sending Asana shares up nearly 8% in after-hours trading.

Photo: Asana