ASAN
Asana Inc.
Is ASAN Halal?
Work management platform software with generally permissible business.
What You Should Know
Asana provides work management and collaboration software. Business is halal, though carries moderate debt as growth company. Its April 30, 2026 Form 10-Q reports $805.512 million of assets, $38.297 million of interest-bearing debt, $193.656 million of cash, $230.984 million of marketable securities, $73.483 million of receivables and $205.095 million of quarterly revenue. Debt/assets is 4.75%, liquidity/assets is 52.72%, receivables-plus-cash/assets is 33.16%, and disclosed interest income is 1.90% of revenue; liquidity exceeds the examined asset-based limits.
⚠️ Concerns
- •Marketable-securities liquidity/assets 52.72% exceeds examined limits
- •Interest income
- •AI and customer end uses
- •Pre-profit company
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-30; calculated 2026-07-15.
38.297 / 805.512
424.64 / 805.512
267.139 / 805.512
3.895 / 205.095
- Financial
- Fails
- Overall
- Fails
Debt/assets is 4.75%, liquidity/assets is 52.72%, receivables-plus-cash/assets is 33.16% and disclosed interest income is 1.90% of revenue; liquidity exceeds the examined FTSE limit.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 52.72%, above the examined MSCI limit; debt/assets and receivables-plus-cash/assets are 4.75% and 33.16%, respectively.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 52.72%, above the examined Malaysia limit; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; filing-based asset ratios remain documented.
Business-activity disclosure
Asana provides work-management and collaboration software. The core activity is generally permissible, while customer workflows, AI features and end uses require qualitative review.
Limitation: The filing does not provide a universal prohibited-activity numerator across customers, product workflows and AI use cases.
Purification
Asana discloses $3.895 million of interest income, but does not provide a complete prohibited-activity numerator or scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Asana's April 30, 2026 Form 10-Q.
- Interest-bearing debt is the $38.297 million current carrying amount of the term loan. The filing separately describes $50.0 million drawn under the facility, including letters of credit; undrawn revolving capacity is not counted as debt.
- Cash and cash equivalents are $193.656 million and marketable securities are $230.984 million; restricted cash of $0.696 million is not included in the cash input.
- Accounts receivable are $73.483 million, quarterly revenue is $205.095 million and disclosed interest income is $3.895 million.
- Work-management software is generally permissible, but customer workflows and AI features are not reduced to a universal prohibited-activity revenue numerator.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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