Company: ASAN
Filing Date: 2025-09-03
Form Type: 10-Q
Source: 0001477720-25-000200
Chunk: 328

Company: Asana, Inc.
Filing Date: 2025-09-03
Form: 10-Q
Item: Part I, Item 8
Chunk 328
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276 Less: Accumulated depreciation and amortization(69,879)(59,440)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