$ASAN

Asana, Inc.

CIK:0001477720|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2026	Jul. 31, 2025	Jul. 31, 2026	Jul. 31, 2025
Income Statement [Abstract]
Revenues	$ 216,429	$ 196,936	$ 421,524	$ 384,203
Cost of revenues	30,325	20,221	55,739	39,448
Gross profit	186,104	176,715	365,785	344,755
Operating expenses:
Research and development	81,728	79,376	147,817	154,503
Sales and marketing	104,384	106,677	196,848	206,518
General and administrative	41,211	40,118	77,579	77,094
Total operating expenses	227,323	226,171	422,244	438,115
Loss from operations	(41,219)	(49,456)	(56,459)	(93,360)
Interest income and other income (expense), net	1,918	3,307	4,821	9,137
Interest expense	(645)	(797)	(1,294)	(1,588)
Loss before income taxes	(39,946)	(46,946)	(52,932)	(85,811)
(Benefit) provision for income taxes	(757)	1,414	662	2,567
Net loss	$ (39,189)	$ (48,360)	$ (53,594)	$ (88,378)
Net loss per share:
Basic (in dollars per share)	$ (0.17)	$ (0.20)	$ (0.23)	$ (0.38)
Diluted (in dollars per share)	$ (0.17)	$ (0.20)	$ (0.23)	$ (0.38)
Weighted-average shares used in calculating net loss per share:
Basic (in shares)	230,818	236,218	234,431	235,550
Diluted (in shares)	230,818	236,218	234,431	235,550

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Cash flows from operating activities
Net loss	$ (53,594)	$ (88,378)
Adjustments to reconcile net loss to net cash provided by operating activities:
Allowance for expected credit losses	1,291	1,193
Depreciation and amortization	12,678	10,109
Amortization of deferred contract acquisition costs	13,911	13,769
Stock-based compensation expense	92,648	110,321
Net accretion of discount on marketable securities	(362)	(1,278)
Non-cash lease expense	9,930	9,122
Amortization of discount on revolving credit facility and term loan issuance costs	60	60
Changes in operating assets and liabilities, net of effects of business combinations:
Accounts receivable	30,903	17,767
Prepaid expenses and other current assets	(17,086)	(20,179)
Other assets	(1,452)	274
Accounts payable	(3,506)	6,261
Accrued expenses and other liabilities	(2,400)	(12,170)
Deferred revenue	15,789	10,820
Operating lease liabilities	(12,520)	(11,092)
Net cash provided by operating activities	86,290	46,599
Cash flows from investing activities
Cash paid for acquisition, net of acquired cash	(71,616)	0
Purchases of marketable securities	(81,750)	(104,096)
Sales of marketable securities	133,603	0
Maturities of marketable securities	61,021	96,576
Purchases of property and equipment	(4,302)	(1,935)
Capitalized internal-use software costs	(7,626)	(5,287)
Net cash provided by (used in) investing activities	29,330	(14,742)
Cash flows from financing activities
Repayment of term loan	(3,750)	(2,500)
Repurchases of common stock	(96,526)	(43,398)
Proceeds from exercise of stock options	1,340	2,073
Proceeds from employee stock purchase plan	4,874	7,746
Net cash used in financing activities	(94,062)	(36,079)
Effect of foreign exchange rates on cash, cash equivalents, and restricted cash	(1,405)	4,030
Net increase (decrease) in cash, cash equivalents, and restricted cash	20,153	(192)
Cash, cash equivalents, and restricted cash
Beginning of period	200,253	184,864
End of period	220,406	184,672
Reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets
Cash and cash equivalents	219,562	184,146
Restricted cash	844	526
Total cash, cash equivalents, and restricted cash	220,406	184,672
Supplemental cash flow data
Cash paid for income taxes	3,003	1,259
Supplemental non-cash investing and financing information
Purchase of property and equipment in accounts payable and accrued expenses and other current liabilities	1,096	182
Stock-based compensation expense capitalized for internal-use software	$ 4,950	$ 3,555

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2026	Jan. 31, 2026
Current assets
Cash and cash equivalents	$ 219,562	$ 199,835
Marketable securities	120,289	234,210
Restricted cash	844	418
Accounts receivable, net	78,645	110,312
Prepaid expenses and other current assets	52,428	48,573
Total current assets	471,768	593,348
Property and equipment, net	90,957	88,313
Operating lease right-of-use assets	148,758	133,422
Intangible assets	17,664	0
Goodwill	56,645	0
Other assets	30,357	29,005
Total assets	816,149	844,088
Current liabilities
Accounts payable	15,438	18,822
Accrued expenses and other current liabilities	119,875	123,716
Deferred revenue, current	350,337	333,636
Operating lease liabilities, current	27,217	24,846
Total current liabilities	512,867	501,020
Deferred revenue, noncurrent	379	220
Operating lease liabilities, noncurrent	194,050	183,749
Other liabilities	4,530	4,982
Total liabilities	711,826	689,971
Commitments and contingencies (Note 9)
Stockholders' equity
Common stock	2	2
Additional paid-in capital	2,403,456	2,299,616
Accumulated other comprehensive income	691	4,205
Accumulated deficit	(2,299,826)	(2,149,706)
Total stockholders’ equity	104,323	154,117
Total liabilities and stockholders’ equity	$ 816,149	$ 844,088