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10-Q Filing

ASANA, INC. CIK: 1477720 Q1 2024
Filing Information
Form Type 10-Q
Accession Number 0001477720-23-000031
Period End Date 20230430
Filing Date 20230601
Fiscal Year 2024
Fiscal Period Q1
XBRL Instance asan-20230430_htm.xml
Balance Sheet 54 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $526.56M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $382.23M USD Point-in-time
Marketable securities AvailableForSaleSecuritiesDebtSecuritiesCurrent $141.31M USD Point-in-time
Marketable securities AvailableForSaleSecuritiesDebtSecuritiesCurrent $2.74M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $82.36M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $98.91M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $48.73M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $48.09M USD Point-in-time
Total current assets AssetsCurrent $660.39M USD Point-in-time
Total current assets AssetsCurrent $670.54M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $96.88M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $94.98M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $176.19M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $194.37M USD Point-in-time
Other assets OtherAssetsNoncurrent $22.50M USD Point-in-time
Other assets OtherAssetsNoncurrent $23.40M USD Point-in-time
Total assets Assets $984.29M USD Point-in-time
Total assets Assets $954.96M USD Point-in-time
Accounts payable AccountsPayableCurrent $8.87M USD Point-in-time
Accounts payable AccountsPayableCurrent $7.55M USD Point-in-time
Accrued expenses and other current liabilities AccruedExpensesAndOtherCurrentLiabilities $83.49M USD Point-in-time
Accrued expenses and other current liabilities AccruedExpensesAndOtherCurrentLiabilities $69.56M USD Point-in-time
Deferred revenue, current ContractWithCustomerLiabilityCurrent $257.73M USD Point-in-time
Deferred revenue, current ContractWithCustomerLiabilityCurrent $226.44M USD Point-in-time
Operating lease liabilities, current OperatingLeaseLiabilityCurrent $14.83M USD Point-in-time
Operating lease liabilities, current OperatingLeaseLiabilityCurrent $17.16M USD Point-in-time
Total current liabilities LiabilitiesCurrent $332.32M USD Point-in-time
Total current liabilities LiabilitiesCurrent $353.33M USD Point-in-time
Term loan, net SecuredLongTermDebt $46.70M USD Point-in-time
Term loan, net SecuredLongTermDebt $46.08M USD Point-in-time
Deferred revenue, noncurrent ContractWithCustomerLiabilityNoncurrent $6.21M USD Point-in-time
Deferred revenue, noncurrent ContractWithCustomerLiabilityNoncurrent $7.16M USD Point-in-time
Operating lease liabilities, noncurrent OperatingLeaseLiabilityNoncurrent $226.60M USD Point-in-time
Operating lease liabilities, noncurrent OperatingLeaseLiabilityNoncurrent $210.01M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.21M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $3.97M USD Point-in-time
Total liabilities Liabilities $598.39M USD Point-in-time
Total liabilities Liabilities $636.20M USD Point-in-time
Commitments and contingencies (Note 7) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 7) CommitmentsAndContingencies - USD Point-in-time
Common stock CommonStockValue $2.00K USD Point-in-time
Common stock CommonStockValue $2.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $1.60B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $1.65B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-315.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-873.00K USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.24B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.30B USD Point-in-time
Total stockholders equity StockholdersEquity $356.57M USD Point-in-time
Total stockholders equity StockholdersEquity $348.08M USD Point-in-time
Total stockholders equity StockholdersEquity $203.84M USD Point-in-time
Total stockholders equity StockholdersEquity $155.97M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $954.96M USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $984.29M USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $152.41M USD 1 Quarter
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $120.65M USD 1 Quarter
Cost of revenues CostOfGoodsAndServicesSold $12.44M USD 1 Quarter
Cost of revenues CostOfGoodsAndServicesSold $14.85M USD 1 Quarter
Gross profit GrossProfit $137.56M USD 1 Quarter
Gross profit GrossProfit $108.21M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $65.20M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $76.32M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $93.24M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $96.12M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $33.26M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $43.11M USD 1 Quarter
Total operating expenses OperatingExpenses $204.44M USD 1 Quarter
Total operating expenses OperatingExpenses $202.81M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-65.25M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-96.23M USD 1 Quarter
Interest income and other income (expense), net NonoperatingIncomeExpense $-1.35M USD 1 Quarter
Interest income and other income (expense), net NonoperatingIncomeExpense $5.67M USD 1 Quarter
Interest expense InterestExpense $357.00K USD 1 Quarter
Interest expense InterestExpense $967.00K USD 1 Quarter
Loss before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-60.55M USD 1 Quarter
Loss before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-97.94M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $922.00K USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $933.00K USD 1 Quarter
Net loss NetIncomeLoss $-98.87M USD 1 Quarter
Net loss NetIncomeLoss $-61.47M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.28 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.52 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.52 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.28 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 189.59M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 216.41M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 216.41M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 189.59M shares 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-98.87M USD 1 Quarter
Net loss NetIncomeLoss $-61.47M USD 1 Quarter
Allowance for expected credit losses ProvisionForDoubtfulAccounts $737.00K USD 1 Quarter
Allowance for expected credit losses ProvisionForDoubtfulAccounts $627.00K USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $3.10M USD 1 Quarter
Depreciation and amortization OtherDepreciationAndAmortization $3.29M USD 1 Quarter
Amortization of deferred contract acquisition costs CapitalizedContractCostAmortization $4.87M USD 1 Quarter
Amortization of deferred contract acquisition costs CapitalizedContractCostAmortization $3.04M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $41.50M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $39.91M USD 1 Quarter
Net amortization (accretion) of premium (discount) on marketable securities InvestmentIncomeNetAmortizationOfDiscountAndPremium $-55.00K USD 1 Quarter
Net amortization (accretion) of premium (discount) on marketable securities InvestmentIncomeNetAmortizationOfDiscountAndPremium $444.00K USD 1 Quarter
Non-cash lease expense OperatingLeaseRightOfUseAssetAmortizationExpense $3.64M USD 1 Quarter
Non-cash lease expense OperatingLeaseRightOfUseAssetAmortizationExpense $5.26M USD 1 Quarter
Amortization of discount on revolving credit facility and term loan issuance costs AmortizationOfDebtDiscountPremium $4.00K USD 1 Quarter
Amortization of discount on revolving credit facility and term loan issuance costs AmortizationOfDebtDiscountPremium $30.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $8.53M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $17.25M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets $11.80M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets $4.62M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $2.20M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-881.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $4.68M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-14.00K USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $-13.42M USD 1 Quarter
Accrued expenses and other liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities $791.00K USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $27.80M USD 1 Quarter
Deferred revenue IncreaseDecreaseInContractWithCustomerLiability $30.35M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiabilities $-3.39M USD 1 Quarter
Operating lease liabilities IncreaseDecreaseInOperatingLeaseLiabilities $-4.29M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-41.13M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-14.59M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireAvailableForSaleSecuritiesDebt $139.29M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireAvailableForSaleSecuritiesDebt $46.55M USD 1 Quarter
Maturities of marketable securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $35.58M USD 1 Quarter
Maturities of marketable securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $1.61M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.05M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.87M USD 1 Quarter
Capitalized internal-use software costs PaymentsForSoftware $70.00K USD 1 Quarter
Capitalized internal-use software costs PaymentsForSoftware $821.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-12.09M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-140.37M USD 1 Quarter
Repayment of term loan RepaymentsOfSeniorDebt $667.00K USD 1 Quarter
Repayment of term loan RepaymentsOfSeniorDebt $625.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $2.23M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $1.80M USD 1 Quarter
Proceeds from employee stock purchase plan ProceedsFromStockPlans $8.56M USD 1 Quarter
Proceeds from employee stock purchase plan ProceedsFromStockPlans $9.16M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $9.73M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $10.72M USD 1 Quarter
Effect of foreign exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-568.00K USD 1 Quarter
Effect of foreign exchange rates on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $899.00K USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-144.33M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-43.08M USD 1 Quarter
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $197.33M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $526.56M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $382.23M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $240.40M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $197.33M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $526.56M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $382.23M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $240.40M USD Point-in-time
Cash paid for income taxes IncomeTaxesPaidNet $1.91M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $1.58M USD 1 Quarter
Purchase of property and equipment in accounts payable and accrued expenses CapitalExpendituresIncurredButNotYetPaid $2.65M USD 1 Quarter
Purchase of property and equipment in accounts payable and accrued expenses CapitalExpendituresIncurredButNotYetPaid $1.17M USD 1 Quarter
Stockholders Equity 23 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $356.57M USD Point-in-time
Beginning balance StockholdersEquity $348.08M USD Point-in-time
Beginning balance StockholdersEquity $203.84M USD Point-in-time
Beginning balance StockholdersEquity $155.97M USD Point-in-time
Issuance of common stock upon the exercise of options (in shares) StockIssuedDuringPeriodSharesStockOptionsExercised 793,000.00 shares 1 Quarter
Issuance of common stock upon the exercise of options StockIssuedDuringPeriodValueStockOptionsExercised $2.22M USD 1 Quarter
Issuance of common stock upon the exercise of options StockIssuedDuringPeriodValueStockOptionsExercised $1.80M USD 1 Quarter
Vesting of early exercised stock options AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions $74.00K USD 1 Quarter
Vesting of early exercised stock options AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions $277.00K USD 1 Quarter
Issuance of common stock under employee share purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $8.56M USD 1 Quarter
Issuance of common stock under employee share purchase plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan $9.16M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $41.99M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $39.97M USD 1 Quarter
Net unrealized gains (losses) on marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-121.00K USD 1 Quarter
Net unrealized gains (losses) on marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $454.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-501.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $104.00K USD 1 Quarter
Net loss NetIncomeLoss $-98.87M USD 1 Quarter
Net loss NetIncomeLoss $-61.47M USD 1 Quarter
Ending balance StockholdersEquity $356.57M USD Point-in-time
Ending balance StockholdersEquity $348.08M USD Point-in-time
Ending balance StockholdersEquity $203.84M USD Point-in-time
Ending balance StockholdersEquity $155.97M USD Point-in-time
Comprehensive Income 8 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-98.87M USD 1 Quarter
Net loss NetIncomeLoss $-61.47M USD 1 Quarter
Net unrealized gains (losses) on marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-121.00K USD 1 Quarter
Net unrealized gains (losses) on marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $454.00K USD 1 Quarter
Change in foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-501.00K USD 1 Quarter
Change in foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $104.00K USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-99.49M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-60.91M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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