Company: ASAN
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0001477720-25-000237
Chunk: 356

Company: Asana, Inc.
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 2
Chunk 356
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 nine months ended October 31, 2024. The increase in revenues was primarily due to the addition of new paying 

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customers and a continued shift in our sales mix toward our higher priced subscription plans, such as Enterprise and Enterprise+ plans.

Cost of Revenues

Nine Months Ended October 31,20252024$ Change% Change(dollars in thousands)Cost of revenues$61,755 $57,589 $4,166 7 %

Cost of revenues increased $4.2 million, or 7%, during the nine months ended October 31, 2025 compared to the nine months ended October 31, 2024. The increase was primarily due to an increase of $2.3 million in amortization of capitalized software development costs and an increase of $1.7 million in personnel-related costs.

Operating Expenses

Nine Months Ended October 31,20252024$ Change% Change(dollars in thousands)Research and development$228,316 $257,228 $(28,912)(11)%Sales and marketing306,761 317,689 (10,928)(3)%General and administrative151,750 106,182 45,568 43 %Total operating expenses$686,827 $681,099 $5,728 1 %

Research and Development

Research and development expenses decreased $28.9 million, or 11%, during the nine months ended October 31, 2025 compared to the nine months ended October 31, 2024. The decrease was primarily due to a decrease of $22.5 million in personnel-related costs, an increase of $4.9 million in capitalized internal-use software, and a decrease of $1.8 million in allocated overhead costs, partially offset by an increase of $1.4 million in subscription and software related expenses.

Sales and Marketing

Sales and marketing expenses decreased $10.9 million, or 3%, during the nine months ended October 31, 2025 compared to the nine months ended October 31, 2024. The decrease was primarily due to a decrease of $5.2 million in personnel-related costs, a decrease of $3.9 million in fees to marketing vendors, and a decrease of $1.3 million in professional fees.

General and Administrative

General and administrative expenses increased $45.6 million, or 43%, during the nine months ended October 31, 2025