Company: ASAN
Filing Date: 2025-06-03
Form Type: 10-Q
Source: 0001477720-25-000107
Chunk: 218

Company: Asana, Inc.
Filing Date: 2025-06-03
Form: 10-Q
Item: Part I, Item 1
Chunk 218
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 and cash equivalents. The Repurchase Program, as amended, has no specified expiration date and will continue until the funds committed to the Repurchase Programs are exhausted or such authorization is revoked by the Company’s board of directors.On May 29, 2025, the Company entered into the Fourth Amendment to the November 2022 Senior Secured Credit Facility with SVB which increased the amount of cash that the Company may use to repurchase its Class A common stock pursuant to the Repurchase Program permitted under the November 2022 Senior Secured Credit Facility to $250.0 million and removed the expiration date of the Repurchase Program to allow repurchases under the Repurchase Program to continue until the funds committed to the Repurchase Program are exhausted or such authorization is revoked by the Company’s board of directors.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our condensed consolidated financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q and our Annual Report on Form 10-K filed with the SEC on March 18, 2025. As described in the section titled “Special Note Regarding Forward-Looking Statements,” the following discussion and analysis contains forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove correct, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those identified below and those discussed in the section titled “Risk Factors” included under Part II, Item 1A below.

Overview

Asana is a leading work management platform for human + AI coordination. Customers use Asana to connect their work to company goals and orchestrate mission critical workflows like product launches, employee onboarding, resource planning, tracking company-wide strategic initiatives and more. Our secure and scalable platform with AI-powered features adds structure to unstructured work, creating clarity, accountability, and impact for everyone within an organization—executives, department heads, team leads, and individuals. In Asana, everyone understands exactly who is doing what, by when, how and why.

We offer two complementary products within the Asana platform to meet the needs of diverse organizations:

•our core work management product, available in a tiered, seat-based model; and

•Asana AI Studio, a