Company: ASAN
Filing Date: 2025-06-03
Form Type: 10-Q
Source: 0001477720-25-000107
Chunk: 247

Company: Asana, Inc.
Filing Date: 2025-06-03
Form: 10-Q
Item: Part I, Item 8
Chunk 247
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 Company’s total available borrowing capacity under the revolving credit facility was $78.3 million as of April 30, 2025.As of April 30, 2025, $50.0 million was drawn and $44.4 million was outstanding under the November 2022 Senior Secured Credit Facility. As of April 30, 2025, the Company was in compliance with all financial covenants.In conjunction with the close of the November 2022 Senior Secured Credit Facility, the Company paid upfront issuance fees of $0.4 million. The upfront fees are amortized over the remaining term of the agreement. As of April 30, 2025, the Company had $0.1 million remaining of upfront issuance fees allocated to the revolving credit facility presented in the Company’s condensed consolidated balance sheet within other assets.The net carrying amounts of the November 2022 Senior Secured Credit Facility were as follows (in thousands):As ofApril 30, 2025January 31, 2025Principal$44,375 $44,375 Accrued interest276 299 Unamortized loan issuance costs(72)(84)Net carrying amount$44,579 $44,590 Term loan, current$6,526 $5,299 Term loan, noncurrent$38,053 $39,291 

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

The net carrying amount of the current portion of the term loan is presented within accrued expenses and other current liabilities in the condensed consolidated balance sheets.The expected future principal payments for all borrowings as of April 30, 2025 is as follows (in thousands): Fiscal year ending January 31,Expected Principal PaymentsRemainder of fiscal year 2026$5,000 202739,375 Total expected future principal payments$44,375 

Note 7.       Commitments and Contingencies

Standby Letters of CreditAs of April 30, 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