Company: ASAN
Filing Date: 2025-09-03
Form Type: 10-Q
Source: 0001477720-25-000200
Chunk: 6

Company: Asana, Inc.
Filing Date: 2025-09-03
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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 54 61 General and administrative20 20 20 20 Total operating expenses115 132 114 130 Loss from operations(25)(43)(24)(41)Interest income and other income (expense), net2 4 2 3 Interest expense****Loss before provision for income taxes(24)(40)(22)(38)Provision for income taxes****Net loss(25)%(40)%(23)%(39)%_______________

* Less than 1%.

Note: Certain figures may not sum due to rounding.

Comparison of Three Months Ended July 31, 2025 to Three Months Ended July 31, 2024 

Revenues 

Three Months Ended July 31,20252024$ Change% Change(dollars in thousands)Revenues$196,936 $179,212 $17,724 10 %

Revenues increased $17.7 million, or 10%, during the three months ended July 31, 2025 compared to the three months ended July 31, 2024. The increase in revenues was primarily due to the addition of new paying customers and a continued shift in our sales mix toward our higher priced subscription plans, such as Enterprise and Enterprise+ plans.

31

Cost of Revenues and Gross Margin

Three Months Ended July 31,20252024$ Change% Change(dollars in thousands)Cost of revenues$20,221 $19,987 $234 1 %Gross margin90 %89 %

Cost of revenues increased $0.2 million, or 1%, during the three months ended July 31, 2025 compared to the three months ended July 31, 2024. The increase was primarily due to an increase of $0.6 million in amortization of capitalized software development costs and an increase of $0.4 million in professional services, partially offset by a decrease of $0.6 million in third-party hosting costs and a decrease of $0.2 million in credit card processing fees.

Our gross margin increased during the three months ended July 31, 2025 compared to the three months ended July 31, 2024 primarily due to increased revenue from new paying customers and the shift toward higher priced subscription plans, offset by the costs of revenue detailed above.

Operating Expenses

Three Months Ended July 31,20252024$ Change% Change(dollars in thousands)Research and development$79,376