Company: ASAN
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0001477720-25-000237
Chunk: 271

Company: Asana, Inc.
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 8
Chunk 271
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 in certain foreign jurisdictions in which we conduct business. To date, we have not recorded a material provision for income taxes for any of the periods presented other than for foreign income tax. We have recorded deferred tax assets for which we provide a full valuation allowance, which primarily include net operating loss carryforwards and research and development tax credit carryforwards. We expect to maintain this full valuation allowance for the foreseeable future as it is more likely than not the deferred tax assets will not be realized based on our history of losses.

Results of Operations

The following tables set forth our results of operations for the periods presented and as a percentage of our revenues for those periods. The period-to-period comparison of financial results is not necessarily indicative of financial results to be achieved in future periods. 

Three Months Ended October 31,Nine Months Ended October 31,2025202420252024(in thousands)Revenues$201,033 $183,882 $585,236 $535,542 Cost of revenues (1)22,307 19,798 61,755 57,589 Gross profit178,726 164,084 523,481 477,953 Operating expenses:Research and development (1)73,813 83,286 228,316 257,228 Sales and marketing (1)100,243 104,708 306,761 317,689 General and administrative (1)74,656 36,270 151,750 106,182 Total operating expenses248,712 224,264 686,827 681,099 Loss from operations(69,986)(60,180)(163,346)(203,146)Interest income and other income (expense), net3,609 4,949 12,746 16,069 Interest expense(767)(934)(2,355)(2,831)Loss before provision for income taxes(67,144)(56,165)(152,955)(189,908)Provision for income taxes1,289 1,161 3,856 3,329 Net loss$(68,433)$(57,326)$(156,811)$(193,237)

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(1)Amounts include stock-based compensation expense as follows:

Three Months Ended October 31,Nine Months Ended October 31,2025202420252024(in thousands)Cost of revenues$439 $354 $1,280 $1,030