Company: ASAN
Filing Date: 2025-06-03
Form Type: 10-Q
Source: 0001477720-25-000107
Chunk: 249

Company: Asana, Inc.
Filing Date: 2025-06-03
Form: 10-Q
Item: Part I, Item 8
Chunk 249
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ANA, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(unaudited)

ContingenciesFrom time to time in the normal course of business, the Company may be subject to various claims and other legal matters arising in the ordinary course of business. As of April 30, 2025, the Company believes that none of its current legal proceedings would have a material adverse effect on its financial position, results of operations, or cash flows.

Note 8.     Leases

The Company leases real estate facilities under non-cancelable operating leases with various expiration dates through fiscal 2034. The Company has no lease agreements that are classified as finance leases.Future minimum lease payments under non-cancelable operating leases with initial lease terms in excess of one year included in the Company’s total operating lease liabilities as of April 30, 2025 are as follows (in thousands):Fiscal year ending January 31,Operating Lease Payments (Net)Remainder of fiscal year 2026$32,704 202742,455 202840,114 202936,811 2030 and thereafter162,832 Total undiscounted operating lease payments$314,916 Less: imputed interest(93,716)Total operating lease liabilities$221,200 The Company has subleased certain office spaces to third parties and has classified the subleases as operating leases. The subleases have lease terms of four and five years, respectively. Sublease income was $0.6 million and $0.4 million for the three months ended April 30, 2025 and 2024, respectively. The Company recognizes sublease income as a reduction of lease expense in the Company’s condensed consolidated statements of operations.As of April 30, 2025, the Company has a commitment of $2.4 million for an operating lease that has not yet commenced, and therefore is not included in the ROU asset or operating lease liabilities. The foregoing operating lease will commence in the fourth quarter of fiscal 2026, with a lease term of seven years.Operating lease amounts in the table above do not include sublease payments to be received of $9.5 million. As of April 30, 2025, the future total minimum sublease payments to be received were as follows (in thousands):Fiscal year ending January 31,Sublease Payments to be ReceivedRemainder of fiscal year 2026$1,963 20272,777