Company: ASAN
Filing Date: 2025-09-03
Form Type: 10-Q
Source: 0001477720-25-000200
Chunk: 286

Company: Asana, Inc.
Filing Date: 2025-09-03
Form: 10-Q
Item: Part I, Item 1
Chunk 286
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$41,875 

Note 7.       Commitments and Contingencies

Standby Letters of CreditAs of July 31, 2025, the Company had several letters of credit outstanding related to its operating leases totaling $21.7 million. The letters of credit expire at various dates between fiscal 2028 and 2035. Purchase CommitmentsIn November 2024, the Company entered into a 60-month contract with Amazon Web Services (“AWS”) for hosting-related services, which replaced the Company’s prior agreement with AWS and terminated the remaining commitments under the prior agreement. Pursuant to the terms of the November 2024 contract with AWS, the Company is required to spend $255.0 million over the term of the contract between December 2024 to November 2029. The commitment may be offset by up to $4.2 million in credits, of which $3.7 million are subject to the Company meeting certain conditions of the agreement. As of July 31, 2025, the Company had purchase commitments remaining of $233.4 million under this contract, which are not reflected on the Company’s condensed consolidated balance sheet as of July 31, 2025. Future commitments under this contract as of July 31, 2025, are as follows (in thousands):Fiscal year ending January 31,Purchase CommitmentsRemainder of fiscal year 2026$20,367 202745,000 202854,000 202956,000 2030 and thereafter58,000 Total remaining purchase commitments$233,367 During the six months ended July 31, 2025, other than certain non-cancelable operating leases described in Note 8. Leases and the commitment for hosting-related services described above, there have been no other material changes outside the ordinary course of business to the Company’s contractual obligations and commitments from those disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2025.Indemnification AgreementsThe Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against any liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the individual.Additionally, in the ordinary course of business, the Company enters into agreements of varying scope and terms pursuant to which it agrees to indemnify customers, vendors, lessors