Company: ASAN
Filing Date: 2025-06-03
Form Type: 10-Q
Source: 0001477720-25-000107
Chunk: 205

Company: Asana, Inc.
Filing Date: 2025-06-03
Form: 10-Q
Item: Part I, Item 1
Chunk 205
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 2025Leasehold improvements$104,880 $104,150 Capitalized internal-use software38,673 35,112 Furniture and fixtures12,858 12,689 Desktop and other computer equipment3,043 2,828 Construction in progress33 497 Total gross property and equipment159,487 155,276 Less: Accumulated depreciation and amortization(64,747)(59,440)Total property and equipment, net$94,740 $95,836 Depreciation and amortization expense was $4.9 million and $4.0 million for the three months ended April 30, 2025 and 2024, respectively.Prepaid Expenses and Other Current AssetsPrepaid expenses and other current assets consisted of the following (in thousands):As ofApril 30, 2025January 31, 2025Prepaid expenses$19,615 $17,437 Deferred contract acquisition costs, current22,814 22,414 Other current assets6,900 6,303 Total prepaid expenses and other current assets$49,329 $46,154 Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consisted of the following (in thousands):As ofApril 30, 2025January 31, 2025Accrued payroll liabilities$15,821 $22,623 Accrued sales and value-added taxes13,483 13,140 Accrued taxes for fringe benefits12,689 13,055 Accrued advertising expenses8,178 5,862 Accrued consulting expenses4,637 5,297 Other liabilities23,502 23,054 Total accrued expenses and other current liabilities$78,310 $83,031 

Note 6.     Debt 

In April 2020, the Company entered into a five-year $40.0 million term loan agreement with SVB (the “April 2020 Senior Secured Term Loan”) which provided for a senior secured term loan facility, in an aggregate principal amount of up to $40.0 million to be used for the construction of the Company’s corporate headquarters. Interest accrued and was payable monthly based on a floating rate per annum equal to the prime rate (per the Wall Street Journal) plus an applicable margin ranging from 0% to (1.0)% based on the Company’s