Company: ASAN
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0001477720-25-000237
Chunk: 199

Company: Asana, Inc.
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 1
Chunk 199
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 highly liquid investments with original maturities at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents are stated at cost, which approximates fair value. 

11

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

The Company holds restricted cash for the future payment of voluntary disability insurance claims. The Company had $0.4 million of restricted cash as of October 31, 2025 and $0.1 million restricted cash as of January 31, 2025. Available-for-sale InvestmentsThe Company’s marketable securities are primarily comprised of U.S. government securities, corporate bonds, and U.S. agency bonds. The Company classifies its securities as available-for-sale at the time of purchase and reevaluates such classification at each balance sheet date. The Company may sell these securities at any time for use in current operations even if they have not yet reached maturity. As a result, the Company classifies its marketable securities, including securities with stated maturities beyond 12 months, within current assets in the condensed consolidated balance sheets. Available-for-sale securities are carried at fair value with unrealized gains and losses reported in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity until realized. Unrealized gains and losses for any marketable securities that management intends to sell or is more likely than not that management will be required to sell prior to their anticipated recovery are recorded in interest income and other income (expense), net.Impairment of Long-Lived AssetsThe Company evaluates its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such asset groups may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset group to future undiscounted cash flows expected to be generated by the asset group. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. The Company recorded an impairment charge of $30.7 million during the three and nine months ended October 31, 2025 related to the ROU assets and underlying property and equipment associated with its subleased office spaces, which is further described in Note 8. Leases to the condensed consolidated financial statements. The Company recorded no impairment charge during the three and nine months ended October 31, 2024.Recently Adopt