Company: ASAN
Filing Date: 2025-12-02
Form Type: 10-Q
Source: 0001477720-25-000237
Chunk: 228

Company: Asana, Inc.
Filing Date: 2025-12-02
Form: 10-Q
Item: Part I, Item 1
Chunk 228
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 October 31,20252024$ Change% Change(dollars in thousands)Interest income and other income (expense), net$3,609 $4,949 $(1,340)(27)%Interest expense(767)(934)167 18 %

Interest income and other income (expense), net decreased by $1.3 million, or 27%, during the three months ended October 31, 2025 compared to the three months ended October 31, 2024, primarily due to a decrease of $0.7 million in interest income on marketable securities and a decrease of $0.6 million for the impact of foreign currency transaction gains and losses. Interest expense decreased by $0.2 million, or 18%, during the three months ended October 31, 2025 compared to the three months ended October 31, 2024, primarily due to a decrease in interest rates.

Comparison of Nine Months Ended October 31, 2025 to Nine Months Ended October 31, 2024 

Revenues 

Nine Months Ended October 31,20252024$ Change% Change(dollars in thousands)Revenues$585,236 $535,542 $49,694 9 %

Revenues increased $49.7 million, or 9%, during the nine months ended October 31, 2025 compared to the nine months ended October 31, 2024. The increase in revenues was primarily due to the addition of new paying 

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customers and a continued shift in our sales mix toward our higher priced subscription plans, such as Enterprise and Enterprise+ plans.

Cost of Revenues

Nine Months Ended October 31,20252024$ Change% Change(dollars in thousands)Cost of revenues$61,755 $57,589 $4,166 7 %

Cost of revenues increased $4.2 million, or 7%, during the nine months ended October 31, 2025 compared to the nine months ended October 31, 2024. The increase was primarily due to an increase of $2.3 million in amortization of capitalized software development costs and an increase of $1.7 million in personnel-related costs.

Operating Expenses

Nine Months Ended October 31,20252024$ Change% Change(dollars in thousands)Research and development$228,316 $257,228 $(28,912)(11)%Sales and marketing306,761