Asana, Inc. (ASAN) shares surged 11.31% in pre-market trading on Thursday following the release of its second-quarter fiscal 2026 financial results, which exceeded analyst expectations and prompted the company to raise its full-year guidance.

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.

Several key factors contributed to Asana's strong performance and positive investor reaction:

1. AI Studio Traction: The company reported that AI Studio's 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%.

4. Customer Expansion: The number of customers spending $100,000 or more annually grew 19% year-over-year to 770.

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."

The stock's significant jump reflects growing investor confidence in Asana's ability to execute its AI-driven strategy and achieve sustained profitability in the collaborative work management space.