Company: ASAN
Filing Date: 2025-09-03
Form Type: 10-Q
Source: 0001477720-25-000200
Chunk: 16

Company: Asana, Inc.
Filing Date: 2025-09-03
Form: 10-Q
Item: Part I, Item 2
Chunk 16
---
 Months Ended July 31,20252024(in thousands)Net cash provided by operating activities$46,599 $13,960 Net cash used in investing activities(14,742)(21,305)Net cash used in financing activities(36,079)(9,281)

Operating Activities

Our largest source of operating cash is cash collection from sales of subscriptions to our paying customers. Our primary uses of cash from operating activities are for personnel-related expenses, marketing expenses, and third-party hosting-related and software expenses. In prior years, we generated negative cash flows from operating activities and supplemented working capital requirements through net proceeds from the sale of equity and equity-linked securities. 

Net cash provided by operating activities of $46.6 million for the six months ended July 31, 2025 reflects our net loss of $88.4 million, adjusted by non-cash items such as stock-based compensation expense of $110.3 million, amortization of deferred contract acquisition costs of $13.8 million, depreciation and amortization of $10.1 million, non-cash lease expense of $9.1 million, and provision for expected credit losses of $1.2 million, partially offset by net accretion of discount on marketable securities of $1.3 million, and net cash outflows of $8.3 million from changes in our operating assets and liabilities. The net cash outflows from changes in operating assets and liabilities primarily consisted of a $20.2 million increase in prepaid expenses and other current assets related to an increase in deferred contract acquisition costs, a $12.2 million decrease in accrued expenses and other liabilities primarily from accrued advertising expenses and accrued payroll liability, and a $11.1 million decrease in operating lease liabilities. These amounts were partially offset by a $17.8 million decrease in accounts receivable, a $10.8 million increase in deferred revenue resulting from increased billings for subscriptions, a $6.3 million increase in accounts payable, and a $0.3 million decrease in other assets.

Net cash provided by operating activities of $14.0 million for the six months ended July 31, 2024 reflects our net loss of $135.9 million, adjusted by non-cash items such as stock-based compensation expense of $108.7 million, amortization of deferred contract acquisition costs of $12.5 million, non-cash lease expense of $8.9 million, 

38

depreciation and amortization of $8.3 million, provision for