Company: ASAN
Filing Date: 2025-09-03
Form Type: 10-Q
Source: 0001477720-25-000200
Chunk: 8

Company: Asana, Inc.
Filing Date: 2025-09-03
Form: 10-Q
Item: Part I, Item 2
Chunk 8
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Interest income and other income (expense), net$3,307 $6,760 $(3,453)(51)%Interest expense(797)(955)158 17 %

Interest income and other income (expense), net decreased by $3.5 million, or 51%, during the three months ended July 31, 2025 compared to the three months ended July 31, 2024, primarily due to a decrease of $2.2 million for the impact of foreign currency transaction gains and losses and a decrease of $1.3 million in interest income on marketable securities. Interest expense decreased by $0.2 million, or 17%, during the three months ended July 31, 2025 compared to the three months ended July 31, 2024, primarily due to a decrease in interest rates.

Comparison of Six Months Ended July 31, 2025 to Six Months Ended July 31, 2024 

Revenues 

Six Months Ended July 31,20252024$ Change% Change(dollars in thousands)Revenues$384,203 $351,660 $32,543 9 %

Revenues increased $32.5 million, or 9%, during the six months ended July 31, 2025 compared to the six months ended July 31, 2024. The increase in revenues was primarily due to the addition of new paying customers and a continued shift in our sales mix toward our higher priced subscription plans, such as Enterprise and Enterprise+ plans.

Cost of Revenues and Gross Margin

Six Months Ended July 31,20252024$ Change% Change(dollars in thousands)Cost of revenues$39,448 $37,791 $1,657 4 %Gross margin90 %89 %

Cost of revenues increased $1.7 million, or 4%, during the six months ended July 31, 2025 compared to the six months ended July 31, 2024. The increase was primarily due to an increase of $1.2 million in amortization of capitalized software development costs, an increase of $1.0 million in professional services, and an increase of $0.6 million in personnel-related costs, partially offset by a decrease of $0.5 million in third-party hosting costs, a decrease of $0.4 million in credit card processing fees, and a decrease of $0.2 million in