Company: ASAN
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0001477720-25-000237
Chunk: 215

Company: Asana, Inc.
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 1
Chunk 215
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 months ended October 31, 2025, no Market-Based Awards had been granted, and therefore no such stock-based compensation expense had been incurred.Performance-Based AwardsThe Performance-Based Awards will vest upon satisfaction of both (i) continuous service through each vesting date and (ii) achievement of revenue-based performance targets during the performance periods. As of October 31, 2025, the revenue targets for the Performance-Based Awards have not been established and therefore the awards are not considered granted under ASC 718. As such, the grant date fair value has not been determined for the Performance-Based Awards and no stock-based compensation expense has been recognized.The Company’s PSU activity is set forth below (in thousands, except per share data):Number ofSharesWeighted-AverageGrant Date Fair Value Per ShareAggregateIntrinsic ValueUnvested PSUs at January 31, 2025— $— $— PSUs granted944 20.23 PSUs vested— — PSUs cancelled/forfeited— — Unvested PSUs at October 31, 2025944 $20.23 $13,261 The weighted-average grant date fair value of PSUs granted during the nine months ended October 31, 2025 was $20.23 and there were no PSU awards granted during the nine months ended October 31, 2024. No PSU awards vested during the nine months ended October 31, 2025 and 2024.

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ASANA, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(unaudited)

Stock-Based Compensation ExpenseStock-based compensation expense for stock-based awards to employees and non-employees in the Company’s condensed consolidated statements of operations for the periods below were as follows (in thousands):Three Months Ended October 31,Nine Months Ended October 31,2025202420252024Cost of revenues$439 $354 $1,280 $1,030 Research and development26,109 28,087 81,450 88,872 Sales and marketing13,560 15,837 46,483 48,334 General and administrative14,638 7,677 35,854 22,466 Total stock-based compensation expense$54,746 $51,955 $165,067 $160,702 The stock-based compensation expense related to awards granted to non-employees for the three and nine months ended October