Company: ASAN
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001477720-25-000045
Chunk: 107

Company: Asana, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 7
Chunk 107
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7)%

Interest income and other income (expense), net decreased $1.0 million during fiscal 2025 compared to fiscal 2024 due primarily to a decrease in interest income from our investments in marketable securities. Interest expense decreased $0.3 million during fiscal 2025 compared to fiscal 2024 primarily due to a decrease in interest rates.

Comparison of the Fiscal Years Ended January 31, 2024 and 2023

For a comparison of our results of operations for the fiscal years ended January 31, 2024 and 2023, see Part II— Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the fiscal year ended January 31, 2024, filed with the SEC on March 14, 2024.

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Non-GAAP Financial Measures 

The following tables present certain non-GAAP financial measures for each period presented below. In addition to our results determined in accordance with GAAP, we believe these non-GAAP financial measures are useful in evaluating our operating performance. See below for a description of the non-GAAP financial measures and their limitations as an analytical tool. 

Year Ended January 31,202520242023(in thousands)Non-GAAP loss from operations$(40,787)$(58,099)$(207,280)Non-GAAP net loss$(29,588)$(45,132)$(207,222)Free cash flow$2,643 $(31,092)$(167,213)Adjusted free cash flow$2,643 $(30,385)$(159,550)

Non-GAAP Loss From Operations and Non-GAAP Net Loss

We define non-GAAP loss from operations as loss from operations plus stock-based compensation expense and the related employer payroll tax associated with RSUs, impairment of long-lived assets, and restructuring costs. The amount of employer payroll tax-related items on employee stock transactions is dependent on our stock price and other factors that are beyond our control and that do not correlate to the operation of the business. The restructuring costs are related to the reduction of our global workforce, which resulted in expenses related to severance, benefits, and other related items. When evaluating the performance of our business and making operating plans, we do not consider these items (for example, when considering the impact of equity award grants, we place a greater emphasis on overall stockholder dilution rather than the accounting charges associated with such grants). We believe the costs associated with restructuring