Asana, Inc.ASAN

Asana, Inc. Fair Value Disclosure

10-KFiled Mar 18, 20253 min read
Fair Value Measurements
The following table summarizes, for assets measured at fair value, the respective fair value and classification by level of input within the fair value hierarchy (in thousands):
As of January 31, 2025
Level 1Level 2Level 3Total
Current Assets
Cash equivalents
Money market funds$88,251 $— $— $88,251 
Total cash equivalents$88,251 $— $— $88,251 
Marketable securities
U.S. Treasury securities$155,166 $— $— $155,166 
Corporate bonds— 106,009— 106,009 
U.S. agency bonds— 20,981 — 20,981 
Total marketable securities$155,166 $126,990 $— $282,156 
Total assets$243,417 $126,990 $— $370,407 
As of January 31, 2024
Level 1Level 2Level 3Total
Current Assets
Cash equivalents
Money market funds$89,561 $— $— $89,561 
Commercial paper— 4,991 — 4,991 
Total cash equivalents$89,561 $4,991 $— $94,552 
Marketable securities
U.S. Treasury securities$162,328 $— $— $162,328 
Commercial paper— 11,670 — 11,670 
Corporate bonds— 72,608 — 72,608 
U.S. agency bonds— 36,195 — 36,195 
Total marketable securities$162,328 $120,473 $— $282,801 
Total assets$251,889 $125,464 $— $377,353 
There were no transfers of financial assets or liabilities into or out of Level 3 during the years ended January 31, 2025 and 2024.
The following table summarizes the Company's investments in marketable securities on the consolidated balance sheets (in thousands):
As of January 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Current Assets
U.S. Treasury securities$155,017 $254 $(105)$155,166 
Corporate bonds105,532 487 (10)$106,009 
U.S. agency bonds20,935 52 (6)$20,981 
Total marketable securities$281,484 $793 $(121)$282,156 
As of January 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Current Assets
U.S. Treasury securities$162,485 $85 $(242)$162,328 
Commercial paper11,645 25 — 11,670 
Corporate bonds71,930 695 (17)72,608 
U.S. agency bonds36,067 128 — 36,195 
Total marketable securities$282,127 $933 $(259)$282,801 
The following table presents the contractual maturities of the Company’s marketable securities as of January 31, 2025 (in thousands):
As of January 31, 2025
Amortized CostEstimated Fair Value
Due within one year$131,279 $131,497 
Due within one to three years150,205 150,659 
Total$281,484 $282,156 
The Company periodically evaluates its investments for expected credit losses. The Company had certain available-for-sale investment securities in a gross unrealized loss position, substantially all of which had been in such position for less than 12 months. The unrealized losses on the available-for-sale securities were primarily due to unfavorable changes in interest rates subsequent to the initial purchase of these securities. The Company expects to recover the full carrying value of its available-for-sale securities in an unrealized loss position as it does not intend or anticipate a need to sell these securities prior to recovering the associated unrealized losses. The Company also expects any credit losses would be immaterial based on the high-grade credit rating for each of such available-for-sale securities. As a result, the Company does not consider any portion of the unrealized losses as of January 31, 2025 or January 31, 2024 to represent credit losses.
In April 2020 and November 2022, the Company entered into credit agreements (the “April 2020 Senior Secured Term Loan” and “November 2022 Senior Secured Credit Facility” as defined in Note 6. Debt) with Silicon Valley Bank (“SVB”). The credit facilities are carried at amortized cost, which approximated their fair values as of January 31, 2025 and January 31, 2024. If the credit facilities were measured at fair value in the financial statements, they would be classified as Level 2 in the fair value hierarchy. The April 2020 Senior Secured Term Loan was repaid in full and terminated in November 2022. On March 27, 2023, First Citizens BancShares, Inc. announced that
it entered into an agreement to purchase assets and liabilities of SVB, inclusive of the November 2022 Senior Secured Credit Facility.
Free Sentinel

Want the next Asana, Inc. fair value disclosure the moment it drops?

Set a Sentinel and we'll alert you the moment Asana, Inc.'s next filing hits EDGAR. No credit card, your email never gets sold.

Track for free

About Fair Value Disclosures

Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.

Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.

Other Available Disclosures

Income TaxesRevenueEarnings Per SharePP&ELeasesSegmentsCommitmentsNew Standards