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May 28, 2026 8:00 PM

Asana Stock Trades Higher On Q1 Financials, StackAI Acquisition: What Investors Need To Know

Asana Inc (NYSE:ASAN) announced its first-quarter financial results on Thursday after market close. The company also announced the acquisition of StackAI.

Here are the key highlights.

• Asana shares are powering higher. Why are ASAN shares rallying?

Asana Q1 Financials

The company reported first-quarter revenue of $205.1 million, up 9.5% year-over-year. The revenue beat a Street consensus estimate of $203.6 million, according to data from Benzinga Pro.

The company reported earnings of 10 cents per share in the quarter, beating a Street consensus estimate of seven cents per share.

Asana reported record GAAP and non-GAAP operating margins in the first quarter.

"The business continues to show improving fundamentals, supported by momentum in AI product adoption, customer expansion, and operating efficiency," Asana Chief Financial Officer Aziz Megji said.

Asana had 26,103 Core customers, who spend at least $5,000 or more on an annualized basis, at the end of the quarter. This figure was up 7% year-over-year. Revenue from Core customers was up 10% year-over-year in the ...