Company: ASAN
Filing Date: 2025-06-03
Form Type: 10-Q
Source: 0001477720-25-000107
Chunk: 245

Company: Asana, Inc.
Filing Date: 2025-06-03
Form: 10-Q
Item: Part I, Item 8
Chunk 245
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 2025January 31, 2025Prepaid expenses$19,615 $17,437 Deferred contract acquisition costs, current22,814 22,414 Other current assets6,900 6,303 Total prepaid expenses and other current assets$49,329 $46,154 Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consisted of the following (in thousands):As ofApril 30, 2025January 31, 2025Accrued payroll liabilities$15,821 $22,623 Accrued sales and value-added taxes13,483 13,140 Accrued taxes for fringe benefits12,689 13,055 Accrued advertising expenses8,178 5,862 Accrued consulting expenses4,637 5,297 Other liabilities23,502 23,054 Total accrued expenses and other current liabilities$78,310 $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 

14

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 refinance.In November 2022, the Company entered into an agreement for a four-year credit facility (as amended on April 13, 2023, June 18, 2024, November 18, 2024, and May 29, 2025, the “November 2022 Senior Secured Credit Facility”) with SVB, which refinanced the April 2020 Senior Secured Term Loan. The November 2022 Senior Secured Credit Facility provides for senior secured credit facilities in the aggregate principal amount of $150.0 million, including