Asana, Inc. (ASAN) experienced a significant pre-market surge of 6.16% on Friday, following the release of its first-quarter fiscal 2027 financial results that exceeded analyst expectations.

The collaboration software firm reported quarterly adjusted earnings per share of $0.10, beating the consensus estimate of $0.08. Revenue for the quarter reached $205.1 million, a 9.5% year-over-year increase and slightly above the $203.6 million estimate. The company also reported a substantial beat on adjusted operating income, which came in at $23.6 million compared to an estimate of $16.1 million.

Concurrently, Asana announced the acquisition of StackAI, a no-code AI workflow platform, to expand cross-system workflow orchestration for human-agent teams. The company raised its full-year fiscal 2027 revenue guidance to a range of $855.5 million to $863.5 million, up from its previous outlook, and reaffirmed a strong non-GAAP operating margin target. Increased adoption of the company's AI Studio and AI Teammates products was cited as a key driver of the positive results.