Total Revenue (USD, thousands)

Cost of Goods Sold (COGS) (USD, thousands)

SG&A (USD, thousands)

Research and Development (R&D) (USD, thousands)

Depreciation and Amortization (D&A) (USD, thousands)

Interest Expense (USD, thousands)

Operating Income (EBIT) (USD, thousands)

Net Income (USD, thousands)

EPS - Basic (USD)

EPS - Diluted (USD)

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Adjustments for Non-Cash Items (USD, thousands)

Stock-Based Compensation (USD, thousands)

Changes in Working Capital (USD, thousands)

Capital Expenditures (CapEx) (USD, thousands)

Proceeds from / Repayments of Debt (USD, thousands)

Share Repurchases (USD, thousands)

Dividend Payments (USD, thousands)

Net Change in Cash (USD, thousands)

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Current Assets (USD, thousands)

Cash and Cash Equivalents (USD, thousands)

Accounts Receivable (USD, thousands)

Inventory (USD, thousands)

Non-Current Assets (USD, thousands)

Property, Plant, and Equipment (PP&E) (USD, thousands)

Goodwill (USD, thousands)

Intangible Assets (USD, thousands)

Current Liabilities (USD, thousands)

Accounts Payable (USD, thousands)

Short-term Debt (USD, thousands)

Accrued Expenses (USD, thousands)

Non-Current Liabilities (USD, thousands)

Long-term Debt (USD, thousands)

Lease Liabilities (USD, thousands)

Deferred Tax Liabilities (USD, thousands)

Shareholders' Equity (USD, thousands)

Retained Earnings (USD, thousands)

Common Stock (USD, thousands)

Additional Paid-in Capital (USD, thousands)

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U.S. Revenue [$ Million]

International Revenue [$ Million]

Total Revenue [$ Million]

U.S. Revenue Growth [% YoY]

International Revenue Growth [% YoY]

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Asana’s cash and cash equivalents dropped significantly in Q4 2024 primarily due to large net cash outflows from investing activities—specifically, heavy investments in marketable securities accounted for a net outflow of approximately **$289.1 million**.  **[0001477720-24-000011_asan-20240131.htm:106]**  Although there was an improvement in operating cash flows (from **–$31.1 million** in Q4 2023 to **–$15.3 million** in Q4 2024)  **[0001477720-24-000006_asana8-kex991q4fy24.htm:0]** , the substantial investing outlays, partially offset by smaller financing inflows of **$16.8 million**, drove the overall decline in the cash position.  **[0001477720-24-000011_asan-20240131.htm:106]** 

Why did cash and cash equivalents drop so significantly in Q4 2024?

The decline in **total assets** by Q3 2025 was primarily due to reductions in the company's liquid asset components. Specifically, there was a **decrease in cash and cash equivalents** driven by negative cash flows from operations and share repurchases, a **decline in marketable securities** as they matured and were sold to support operational needs, a **drop in accounts receivable** that may have resulted from improved collections or lower billings, and a **reduction in prepaid expenses and other current assets**. These declines were only partially offset by a minor increase in other assets.  **[0001477720-24-000107_asan-20241031.htm:6]** **[0001477720-24-000105_asana8-kex991q3fy25.htm:7]** **[0001477720-24-000107_asan-20241031.htm:15]** 

What factors contributed to the decline in total assets by Q3 2025?

The reduction in **term loan, net** by Q3 2025 was primarily driven by **scheduled repayments of principal**, including a repayment of **$1,875 thousand**, as well as the **amortization of loan issuance costs** which further contributed to the adjustment.  **[0001477720-24-000107_asan-20241031.htm:6]** **[0001477720-24-000107_asan-20241031.htm:9]** 

What drove the reduction in term loan, net by Q3 2025?

22c9de9d421f54552d93c573107d33026cb9edc454400c0e0d2cf77699037d6b

The significant improvement in net loss in FY 2024 can be attributed to several factors. **Improved operating efficiency** played a major role, as operating expenses declined by **$40,502 thousand (5%)** due to reductions in both **sales and marketing** and **general and administrative costs**, although this was slightly offset by a **9% increase in research and development expenses**.  **[0001477720-24-000006_asana8-kex991q4fy24.htm:0]** **[0001477720-24-000011_asan-20240131.htm:87]**  Additionally, **revenue growth** of **$105,292 thousand (19%)** boosted gross profit, and a substantial reduction in **non-GAAP operating loss**—from **$207,280 thousand** to **$58,099 thousand**—reflected better cost management.  **[0001477720-24-000006_asana8-kex991q4fy24.htm:0]** **[0001477720-24-000011_asan-20240131.htm:87]**  **Higher interest income** added further positive impact, contributing an increase of **$13,691 thousand** from marketable securities investments, despite an increase in **stock-based compensation**.  **[0001477720-24-000011_asan-20240131.htm:87]** **[0001477720-24-000006_asana8-kex991q4fy24.htm:6]** **[0001477720-24-000011_asan-20240131.htm:86]** 

Why did net loss improve so markedly in FY 2024?

In fiscal year 2024, **Asana's revenue growth was driven by the addition of new paying customers** and a **shift in the sales mix toward higher-priced subscription plans** such as Business, Advanced, Enterprise, and Enterprise+ plans.  **[0001477720-24-000011_asan-20240131.htm:85]** 

What factors drove the significant revenue growth in FY 2024?

In Q2 2025, the spike in **R&D expenses** was primarily driven by a **$16.5 million** increase in personnel-related costs due to increased headcount, which contributed to an overall increase of **$13.3 million** (or **8%**) compared to the prior period. Additionally, there was a **$0.7 million** increase in capitalized software development costs, although these increases were partially offset by decreases of **$2.1 million** in allocated overhead costs and **$0.6 million** in equipment and related costs.  **[0001477720-24-000078_asan-20240731.htm:34]** 

Why did R&D expenses spike in Q2 2025?

The increase in operating loss in Q2 2025 was primarily caused by a **rise in operating expenses** that outweighed the revenue growth. Specifically, **R&D expenses** increased from **$84,371 thousand** to **$91,151 thousand**, **S&M expenses** rose from **$96,448 thousand** to **$108,649 thousand**, and **stock-based compensation** expenses increased from **$56,205 thousand** to **$60,107 thousand**. Although there was a **slight decrease in G&A expenses** and revenues grew by **10% year-over-year**, these factors were not enough to offset the overall cost increases, leading to a higher loss from operations.  **[0001477720-24-000075_asana8-kex991q2fy25.htm:6]** **[0001477720-24-000078_asan-20240731.htm:31]** 

What caused the increase in operating loss in Q2 2025?

The surge in **interest and other income** in Q4 2024 was driven primarily by an increase in **interest income from investments in marketable securities**.  **[0001477720-24-000011_asan-20240131.htm:87]** 

What drove the surge in interest and other income in Q4 2024?

030656bc3d72a8cb50e0d2660b868e59bee16b218f5e97e3fa77a24e907b3362

Net loss (USD, thousands)

Net cash used in operating activities (USD, thousands)

Net cash provided by (used in) investing activities (USD, thousands)

Net cash provided by (used in) financing activities (USD, thousands)

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Amortization of deferred contract acquisition costs (USD, thousands)

Stock-based compensation expense (USD, thousands)

Net accretion of discount on marketable securities (USD, thousands)

Non-cash lease expense (USD, thousands)

Amortization of discount on revolving credit facility and term loan issuance costs (USD, thousands)

Purchases of marketable securities (USD, thousands)

Maturities of marketable securities (USD, thousands)

Purchases of property and equipment (USD, thousands)

Capitalized internal-use software costs (USD, thousands)

Repurchases of common stock (USD, thousands)

Proceeds from exercise of stock options (USD, thousands)

Proceeds from employee stock purchase plan (USD, thousands)

Taxes paid related to net share settlement of equity awards (USD, thousands)

Effect of foreign exchange rates on cash, cash equivalents, and restricted cash (USD, thousands)

Net decrease in cash, cash equivalents, and restricted cash (USD, thousands)

Beginning of period cash, cash equivalents, and restricted cash (USD, thousands)

End of period cash, cash equivalents, and restricted cash (USD, thousands)

Allowance for expected credit losses (USD, thousands)

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Revenues (USD, thousands)

Cost of Revenues (USD, thousands)

Gross Profit (USD, thousands)

Research and Development Expenses (USD, thousands)

Sales and Marketing Expenses (USD, thousands)

General and Administrative Expenses (USD, thousands)

Total Operating Expenses (USD, thousands)

Loss from Operations (USD, thousands)

Interest Income and Other Income (Expense), Net (USD, thousands)

Loss Before Provision for Income Taxes (USD, thousands)

Provision for Income Taxes (USD, thousands)

Net Loss (USD, thousands)

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Cash and cash equivalents (USD, thousands)

Marketable securities (USD, thousands)

Restricted cash (USD, thousands)

Accounts receivable, net (USD, thousands)

Prepaid expenses and other current assets (USD, thousands)

Total current assets (USD, thousands)

Property and equipment, net (USD, thousands)

Operating lease right-of-use assets (USD, thousands)

Other assets (USD, thousands)

Total assets (USD, thousands)

Accounts payable (USD, thousands)

Accrued expenses and other current liabilities (USD, thousands)

Deferred revenue, current (USD, thousands)

Operating lease liabilities, current (USD, thousands)

Total current liabilities (USD, thousands)

Term loan, net (USD, thousands)

Deferred revenue, noncurrent (USD, thousands)

Operating lease liabilities, noncurrent (USD, thousands)

Other liabilities (USD, thousands)

Total liabilities (USD, thousands)

Common stock (USD, thousands)

Additional paid-in capital (USD, thousands)

Accumulated other comprehensive loss (USD, thousands)

Accumulated deficit (USD, thousands)

Total stockholders’ equity (USD, thousands)

Total liabilities and stockholders’ equity (USD, thousands)

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Asana Inc (ASAN)

Financials