Asana (NYSE:ASAN) reported better-than-expected results for the second quarter and raised its full-year revenue and margin guidance, sending its shares higher in early trade.
Revenues for the quarter reached $196.9 million, up 10% year over year and exceeding analyst expectations of $193.1 million.
Asana’s adjusted earnings per share (EPS) of $0.06 exceeded estimates of $0.05, and adjusted operating income of $14.0 million surpassed the expected $9.34 million, reflecting a 7.1% operating margin.
Billings rose 28.6% year over year to $220.3 million, while net revenue retention was 96%.
Following the results, the company slightly increased its full-year revenue guidance to around $785 million from $782.5 million and raised its full-year EPS guidance to a midpoint of $0.24.
“Looking ahead, we are raising both our full-year revenue and non-GAAP operating margin guidance, reflecting our confidence in Asana’s ability to drive long-term durable growth and sustained profitability,” Asana CFO Sonalee Parekh said in a statement.
Shares of Asana traded up 3.5% at about $14.70.