Company: ASAN
Filing Date: 2025-09-03
Form Type: 10-Q
Source: 0001477720-25-000200
Chunk: 303

Company: Asana, Inc.
Filing Date: 2025-09-03
Form: 10-Q
Item: Part I, Item 1
Chunk 303
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 earned on our marketable securities and investments, in addition to foreign currency transaction gains and losses.

Interest expense consists of interest expense from our credit facilities.

Provision for Income Taxes

Provision for income taxes consists primarily of income taxes in certain foreign jurisdictions in which we conduct business. To date, we have not recorded a material provision for income taxes for any of the periods presented other than for foreign income tax. We have recorded deferred tax assets for which we provide a full valuation allowance, which primarily include net operating loss carryforwards and research and development tax credit carryforwards. We expect to maintain this full valuation allowance for the foreseeable future as it is more likely than not the deferred tax assets will not be realized based on our history of losses.

Results of Operations

The following tables set forth our results of operations for the periods presented and as a percentage of our revenues for those periods. The period-to-period comparison of financial results is not necessarily indicative of financial results to be achieved in future periods. 

Three Months Ended July 31,Six Months Ended July 31,2025202420252024(in thousands)Revenues$196,936 $179,212 $384,203 $351,660 Cost of revenues (1)20,221 19,987 39,448 37,791 Gross profit176,715 159,225 344,755 313,869 Operating expenses:Research and development (1)79,376 91,151 154,503 173,942 Sales and marketing (1)106,677 108,649 206,518 212,981 General and administrative (1)40,118 36,222 77,094 69,912 Total operating expenses226,171 236,022 438,115 456,835 Loss from operations(49,456)(76,797)(93,360)(142,966)Interest income and other income (expense), net3,307 6,760 9,137 11,120 Interest expense(797)(955)(1,588)(1,897)Loss before provision for income taxes(46,946)(70,992)(85,811)(133,743)Provision for income taxes1,414 1,197 2,567 2,168 Net loss$(48,360)$(72,189)$(88,378)$(135,911)

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(1)Amounts include stock