Shares of Asana (ASAN -10.45%) are soaring today, up by 15.6% as of 3:47 p.m. EDT. Investors are showing their appreciation for the workplace software solutions provider's solid fiscal Q2 2022 performance.
Asana published those quarterly results after market hours Wednesday, revealing that it earned $89.5 million in revenue -- a 72% year-over-year increase. Meanwhile, the company's non-GAAP (adjusted) net loss widened to just under $40 million ($0.23 per share) versus the Q2 2021 loss of slightly over $27 million.
On average, analysts following Asana stock were expecting a lower top-line figure of $82.3 million and a deeper net loss of $0.26 per share.
The tech company attributed the better-than-anticipated improvements largely to organic growth. In the press release, CEO Dustin Moskovitz said, "Customers are adopting Asana everywhere: across our major geographies and across all sizes of teams. We saw particular strength in the enterprise, with the number of customers spending over $50,000 up 111%."
That growth figure topped that of customers spending at least $5,000 on an annualized basis, which was up 61%.
Asana is clearly feeling confident about the future. It has raised its full-year fiscal 2022 revenue guidance, believing it will earn $357 million to $359 million. This would represent year-over-year growth of at least 57%.
Meanwhile, the company's Q3 guidance topped analyst estimates. Asana is expecting revenue of $93 million to $94 million, with non-GAAP net loss coming in at $0.26 to $0.27 per share. Prognosticators had been modeling for revenue of $86.7 million and $0.28-per-share loss.