Company: ASAN
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0001477720-25-000237
Chunk: 226

Company: Asana, Inc.
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 1
Chunk 226
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(1)Amounts include stock-based compensation expense as follows:

Three Months Ended October 31,Nine Months Ended October 31,2025202420252024(in thousands)Cost 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 

31

The following table sets forth the components of our statements of operations data, for each of the periods presented, as a percentage of revenues. 

Three Months Ended October 31,Nine Months Ended October 31,2025202420252024(percent of revenues)Revenues100 %100 %100 %100 %Cost of revenues11 11 11 11 Gross margin89 89 89 89 Operating expenses:Research and development37 45 39 48 Sales and marketing50 57 52 59 General and administrative37 20 26 20 Total operating expenses124 122 117 127 Loss from operations(35)(33)(28)(38)Interest income and other income (expense), net2 3 2 3 Interest expense****Loss before provision for income taxes(33)(31)(26)(35)Provision for income taxes****Net loss(34)%(31)%(27)%(36)%_______________

* Less than 1%.

Note: Certain figures may not sum due to rounding.

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

Revenues 

Three Months Ended October 31,20252024$ Change% Change(dollars in thousands)Revenues$201,033 $183,882 $17,151 9 %

Revenues increased $17.2 million, or 9%, during the three months ended October 31, 2025 compared to the three months ended October 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.

Cost of Revenues

Three