Company: ASAN
Filing Date: 2025-09-03
Form Type: 10-Q
Source: 0001477720-25-000200
Chunk: 349

Company: Asana, Inc.
Filing Date: 2025-09-03
Form: 10-Q
Item: Part I, Item 8
Chunk 349
---
)$(135,911)

30

__________________

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

Three Months Ended July 31,Six Months Ended July 31,2025202420252024(in thousands)Cost of revenues$497 $393 $841 $676 Research and development30,977 34,045 55,341 60,785 Sales and marketing18,100 17,249 32,923 32,497 General and administrative12,580 8,420 21,216 14,789 Total stock-based compensation expense$62,154 $60,107 $110,321 $108,747 

The following table sets forth the components of our statements of operations data, for each of the periods presented, as a percentage of revenues. 

Three Months Ended July 31,Six Months Ended July 31,2025202420252024(percent of revenues)Revenues100 %100 %100 %100 %Cost of revenues10 11 10 11 Gross margin90 89 90 89 Operating expenses:Research and development40 51 40 49 Sales and marketing54 61 54 61 General and administrative20 20 20 20 Total operating expenses115 132 114 130 Loss from operations(25)(43)(24)(41)Interest income and other income (expense), net2 4 2 3 Interest expense****Loss before provision for income taxes(24)(40)(22)(38)Provision for income taxes****Net loss(25)%(40)%(23)%(39)%_______________

* Less than 1%.

Note: Certain figures may not sum due to rounding.

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

Revenues 

Three Months Ended July 31,20252024$ Change% Change(dollars in thousands)Revenues$196,936 $179,212 $17,724 10 %

Revenues increased $17.7 million, or 10%, during the three months ended July 31, 2025 compared to the three 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.

31

Cost