Asana reported its first-quarter financial results after the bell on Thursday, and the numbers were better than Wall Street expected. The company also announced it's acquiring StackAI, a no-code AI workflow platform. Investors liked what they heard — shares popped about 3.3% in after-hours trading.

Here's a closer look at the numbers and what the deal means.

Q1 Financials: Beats on Revenue and Earnings

Asana reported first-quarter revenue of $205.1 million, up 9.5% year-over-year and ahead of the Street consensus estimate of $203.6 million. Earnings came in at $0.10 per share, beating the $0.07 analysts were expecting.

The company also posted record GAAP and non-GAAP operating margins for the quarter. CFO Aziz Megji said, "The business continues to show improving fundamentals, supported by momentum in AI product adoption, customer expansion, and operating efficiency."

Asana ended the quarter with 26,103 Core customers — those spending at least $5,000 annually — up 7% year-over-year. Revenue from these customers grew 10% in the quarter. The number of customers spending $100,000 or more annually hit 817, up 12% from a year ago.

StackAI Acquisition: Adding AI Agents to the Mix

Alongside earnings, Asana announced it has acquired StackAI. The deal is expected to bring cross-system execution capabilities for human-agent teams — essentially, making it easier for companies to deploy AI agents that work alongside humans across different software platforms.

According to Asana, "StackAI is a no-code AI workflow platform that enables companies to design, test, deploy and govern custom AI agents and intelligent automation of business-critical workflows." It offers end-to-end operations with multi-agent workflows and compatibility with Salesforce, AWS, Docusign, Oracle, document systems, and industry applications.

Terms of the deal were not disclosed. Megji said the acquisition "further differentiates our operating system for human-agent teams and reinforces our confidence in Asana's long-term growth and profitability potential." CEO Dan Rogers added that the acquisition accelerates the company's roadmap, noting, "We're seeing real momentum with AI Teammates and AI Studio."

What's Next: Guidance and Outlook

For the second quarter, Asana expects revenue between $213 million and $215 million, representing 8.2% to 9.2% year-over-year growth. That's above the analyst consensus of $211.9 million. The company sees Q2 EPS of $0.08 to $0.09, compared to the Street estimate of $0.09.

For the full year, Asana raised its revenue guidance to a range of $855 million to $863.5 million, up from the prior $850 million to $858 million. The analyst consensus is $854.3 million. The new guidance includes about 50 basis points of growth from the StackAI acquisition. Full-year EPS is expected to be $0.37, slightly raised from the previous range of $0.36 to $0.37, matching analyst expectations.

Stock Price Action

Asana shares were up 3.3% in after-hours trading at $6.88. The stock has a 52-week range of $5.38 to $19, so it's still well off its highs — but the Q1 beat and AI acquisition seem to have given investors a reason to be optimistic.