Company: ASAN
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001477720-25-000045
Chunk: 104

Company: Asana, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 7
Chunk 104
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 likely than not the deferred tax assets will not be realized based on our history of losses.

58

Results of Operations 

The following tables set forth our results of operations for the periods presented and as a percentage of our revenues for those periods. The period-to-period comparison of financial results is not necessarily indicative of financial results to be achieved in future periods.

 Year Ended January 31,202520242023(in thousands)Revenues$723,876 $652,504 $547,212 Cost of revenues (1)77,193 64,524 56,559 Gross profit646,683 587,980 490,653 Operating expenses:Research and development (1)341,467 324,688 297,209 Sales and marketing (1)419,950 391,955 434,961 General and administrative (1)152,001 141,334 166,309 Total operating expenses913,418 857,977 898,479 Loss from operations(266,735)(269,997)(407,826)Interest income and other income (expense), net19,647 20,624 6,933 Interest expense(3,683)(3,952)(2,000)Loss before provision for income taxes(250,771)(253,325)(402,893)Provision for income taxes4,765 3,705 4,875 Net loss$(255,536)$(257,030)$(407,768)

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(1)Amounts include stock-based compensation expense as follows:

Year Ended January 31,202520242023(in thousands)Cost of revenues$1,387 $1,549 $1,658 Research and development115,953 112,619 100,083 Sales and marketing64,320 59,217 58,504 General and administrative29,611 29,033 28,717 Total stock-based compensation expense (1)$211,271 $202,418 $188,962 

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(1)The table above includes $0.8 million and $0.9 million of stock-based compensation expense for the fiscal year ended January 31, 2025 and 2023, respectively, that was incurred as a result of the restructuring. See Note 16. Restructuring to our consolidated financial statements included in Item 8. Financial Statements and Supplementary Data in this Annual Report on Form 10-K for