Asana, Inc. (ASAN) experienced a significant after-hours surge of 9.78% on Thursday, following the release of its first-quarter fiscal 2027 financial results and a strategic business announcement.

The collaboration software firm reported quarterly adjusted earnings per share of $0.10, surpassing the analyst consensus estimate of $0.07. Revenue for the quarter came in at $205.1 million, a 9.5% year-over-year increase and slightly above the $203.6 million estimate. The company also noted a narrowing net loss and a significant beat on adjusted operating income, which rose to $23.6 million against an estimate of $16.1 million.

Concurrently, Asana announced the completion of its acquisition of StackAI, a no-code AI workflow platform. The deal is aimed at expanding cross-system workflow orchestration for human-agent teams, which analysts believe will enhance Asana's AI product suite and drive future automation capabilities. The company also provided forward guidance that met or exceeded market expectations for the full fiscal year.