Company: ASAN
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0001477720-25-000237
Chunk: 278

Company: Asana, Inc.
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 8
Chunk 278
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)$38,483 $(39,059)

Non-GAAP Net Income (Loss)

Three Months Ended October 31,Nine Months Ended October 31,2025202420252024(in thousands)Net loss$(68,433)$(57,326)$(156,811)$(193,237)Add:Stock-based compensation and related employer payroll tax associated with RSUs55,609 52,549 168,896 164,087 Impairment of long-lived assets30,716 — 30,716 — Restructuring costs— — 2,217 — Non-GAAP net income (loss)$17,892 $(4,777)$45,018 $(29,150)

36

Free Cash Flow and Adjusted Free Cash Flow

Three Months Ended October 31,Nine Months Ended October 31,2025202420252024(in thousands)Net cash provided by (used in) investing activities$9,276 $41,516 $(5,466)$20,211 Net cash used in financing activities$(26,007)$(48,919)$(62,086)$(58,200)Net cash provided by (used in) operating activities$16,172 $(14,890)$62,771 $(930)Less:Purchases of property and equipment(669)(1,372)(2,604)(4,064)Capitalized internal-use software costs(2,074)(1,919)(7,361)(4,702)Free cash flow$13,429 $(18,181)$52,806 $(9,696)Add:Restructuring costs paid— — 5,944 — Adjusted free cash flow$13,429 $(18,181)$58,750 $(9,696)

Liquidity and Capital Resources

Since inception, we have financed operations primarily through the net proceeds we have received from the sales of our preferred stock and common stock, the issuance of senior mandatory convertible promissory notes in January and June 2020 to a trust affiliated with our co-founder, Chair, and former CEO, Dustin Moskovitz, cash generated from the sale of subscriptions to our platform, and financing activities including the private placement transaction with Mr. Moskovitz. We have generated losses from our operations as reflected in our accumulated deficit of $2,059.5 million as of October 31, 2025, positive cash flows from operating activities for the nine