Company: ASAN
Filing Date: 2025-03-18
Form Type: 10-K
Source: 0001477720-25-000045
Chunk: 106

Company: Asana, Inc.
Filing Date: 2025-03-18
Form: 10-K
Item: Item 7
Chunk 106
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 personnel-related costs.

60

Our gross margin decreased during fiscal 2025 compared to fiscal 2024 primarily due to increased third-party hosting costs and infrastructure and application performance monitoring costs. 

Operating Expenses

Year Ended January 31,20252024$ Change% Change(dollars in thousands)Research and development$341,467 $324,688 $16,779 5 %Sales and marketing419,950 391,955 27,995 7 %General and administrative152,001 141,334 10,667 8 %Total operating expenses$913,418 $857,977 $55,441 6 %

During the year ended January 31, 2025, we realized $4.2 million in credits related to property taxes for our corporate headquarters. The property tax credit is included in allocated overhead costs for each of the operating expense categories below.

Research and Development

Research and development expenses increased $16.8 million, or 5%, during fiscal 2025 compared to fiscal 2024. The increase was primarily due to an increase of $22.8 million in personnel-related expenses, partially offset by a decrease of $2.4 million in allocated overhead costs, an increase of $2.0 million in capitalized internal-use software, a decrease of $1.3 million in cloud computing and related costs, and a decrease of $0.7 million in professional fees.

Sales and Marketing

Sales and marketing expenses increased $28.0 million, or 7%, during fiscal 2025 compared to fiscal 2024. The increase was primarily due to an increase of $27.3 million in personnel-related costs driven by higher headcount.

General and Administrative

General and administrative expenses increased $10.7 million, or 8%, during fiscal 2025 compared to fiscal 2024. The increase was primarily due to an increase of $4.4 million in personnel-related costs, an increase of $4.3 million in professional fees, and an increase of $1.7 million in impairment charges related to subleased office space.

Interest Income, Interest Expense, and Other Income (Expense), Net

Year Ended January 31,20252024$ Change% Change(dollars in thousands)Interest income and other income (expense), net$19,647 $20,624 $(977)(5)%Interest expense(3,683)(3,952)269 (