Company: ASAN
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0001477720-25-000237
Chunk: 204

Company: Asana, Inc.
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 1
Chunk 204
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 2025 and January 31, 2025. If the credit facilities were measured at fair value in the financial statements, they would be classified as Level 2 in the fair value hierarchy. The April 2020 Senior Secured Term Loan was repaid in full and terminated in November 2022. On March 27, 2023, First Citizens BancShares, Inc. announced that it entered into an agreement to purchase assets and liabilities of SVB, inclusive of the November 2022 Senior Secured Credit Facility.

15

ASANA, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(unaudited)

Note 5.    Balance Sheet Components

Property and Equipment, NetProperty and equipment, net, consisted of the following (in thousands):As ofOctober 31, 2025January 31, 2025Leasehold improvements$98,900 $104,150 Capitalized internal-use software47,718 35,112 Furniture and fixtures12,729 12,689 Desktop and other computer equipment3,045 2,828 Construction in progress877 497 Total gross property and equipment163,269 155,276 Less: Accumulated depreciation and amortization(75,714)(59,440)Total property and equipment, net$87,555 $95,836 Depreciation and amortization expense was $5.8 million and $4.4 million for the three months ended October 31, 2025 and 2024, respectively, and $15.9 million and $12.7 million for the nine months ended October 31, 2025 and 2024, respectively.Prepaid Expenses and Other Current AssetsPrepaid expenses and other current assets consisted of the following (in thousands):As ofOctober 31, 2025January 31, 2025Prepaid expenses$19,820 $17,437 Deferred contract acquisition costs, current22,824 22,414 Other current assets8,452 6,303 Total prepaid expenses and other current assets$51,096 $46,154 Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consisted of the following (in thousands):As ofOctober 31, 2025January 31, 2025Accrued payroll liabilities$16,155 $22,623 Accrued sales and value-added