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Asana Inc. Class A (ASAN-0.42%) has submitted its 10-K filing for the fiscal year ended January 31, 2025.
The filing reports total revenues of $723.9 million, representing an 11% increase from the previous fiscal year. This growth is attributed to the addition of new paying customers and a shift towards higher-priced subscription plans.
Cost of revenues rose by 20% to $77.2 million, primarily due to increased third-party hosting and infrastructure costs. Despite this, the gross margin remained relatively stable at 89%.
Operating expenses increased by 6% to $913.4 million, driven by higher personnel-related costs across research and development, sales and marketing, and general and administrative functions.
The company reported a net loss of $255.5 million, a slight improvement from the $257.0 million net loss in the prior fiscal year. This was partly due to increased stock-based compensation expenses, which totaled $211.3 million.
Asana's cash, cash equivalents, and marketable securities totaled $466.9 million as of January 31, 2025. The company also has a credit facility with a remaining borrowing capacity of $78.4 million.
Deferred revenue was reported at $302.8 million, with 81% expected to be recognized as revenue over the next 12 months.
During the fiscal year, Asana repurchased 6.2 million shares of its Class A common stock for $78.4 million, with $71.6 million remaining available for future repurchases under its stock repurchase program.
Asana's management continues to focus on expanding its customer base and enhancing its platform, particularly with the integration of AI capabilities, to drive future growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Asana Inc. Class A annual 10-K report dated March 18, 2025. To report an error, please email earnings@qz.com.