Company: ASAN
Filing Date: 2025-09-03
Form Type: 10-Q
Source: 0001477720-25-000200
Chunk: 283

Company: Asana, Inc.
Filing Date: 2025-09-03
Form: 10-Q
Item: Part I, Item 1
Chunk 283
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440)Total property and equipment, net$96,323 $95,836 Depreciation and amortization expense was $5.2 million and $4.3 million for the three months ended July 31, 2025 and 2024, respectively, and $10.1 million and $8.3 million for the six months ended July 31, 2025 and 2024, respectively.Prepaid Expenses and Other Current AssetsPrepaid expenses and other current assets consisted of the following (in thousands):As ofJuly 31, 2025January 31, 2025Prepaid expenses$21,879 $17,437 Deferred contract acquisition costs, current22,738 22,414 Other current assets8,916 6,303 Total prepaid expenses and other current assets$53,533 $46,154 Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consisted of the following (in thousands):As ofJuly 31, 2025January 31, 2025Accrued payroll liabilities$17,225 $22,623 Accrued sales and value-added taxes13,304 13,140 Accrued taxes for fringe benefits13,255 13,055 Accrued consulting expenses4,659 5,297 Accrued advertising expenses189 5,862 Other liabilities22,221 23,054 Total accrued expenses and other current liabilities$70,853 $83,031 

Note 6.     Debt 

In April 2020, the Company entered into a five-year $40.0 million term loan agreement with SVB (the “April 2020 Senior Secured Term Loan”) which provided for a senior secured term loan facility, in an aggregate principal amount of up to $40.0 million to be used for the construction of the Company’s corporate headquarters. Interest accrued and was payable monthly based on a floating rate per annum equal to the prime rate (per the Wall Street Journal) plus an applicable margin ranging from 0% to (1.0)% based on the Company’s unrestricted cash balance at 

16

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

the lender. The April 2020 Senior Secured Term Loan was repaid in full and terminated in November 2022 in connection with a