Company: ASAN
Filing Date: 2025-09-03
Form Type: 10-Q
Source: 0001477720-25-000200
Chunk: 285

Company: Asana, Inc.
Filing Date: 2025-09-03
Form: 10-Q
Item: Part I, Item 1
Chunk 285
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 on a quarterly basis.Pursuant to the terms of the November 2022 Senior Secured Credit Facility, the Company may issue letters of credit which may reduce the total amount available for borrowing under the revolving credit facility. Additionally, the Company is required to pay an annual commitment fee that accrues at a rate of 0.15% per annum on the unused portion of the borrowing commitments under the revolving credit facility. The Company had an aggregate of $21.7 million of letters of credit outstanding under the revolving credit facility as of July 31, 2025, and the Company’s total available borrowing capacity under the revolving credit facility was $78.3 million as of July 31, 2025.As of July 31, 2025, $50.0 million was drawn and $41.9 million was outstanding under the November 2022 Senior Secured Credit Facility. As of July 31, 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 July 31, 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 ofJuly 31, 2025January 31, 2025Principal$41,875 $44,375 Accrued interest278 299 Unamortized loan issuance costs(61)(84)Net carrying amount$42,092 $44,590 Term loan, current$5,278 $5,299 Term loan, noncurrent$36,814 $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 July 31, 2025 is as follows (in thousands): Fiscal year ending January 31,Expected Principal PaymentsRemainder of fiscal year 2026$2,500 202739,375 Total expected future principal payments