SNOWFLAKE INC., 10-Q filed on 9/5/2025
Quarterly Report
v3.25.2
Cover - shares
shares in Millions
 6 Months Ended
Jul. 31, 2025
Aug. 22, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jul. 31, 2025  
Document Transition Report false  
Entity File Number 001-39504  
Entity Registrant Name SNOWFLAKE INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 46-0636374  
Entity Address, Address Line One Suite 3A  
Entity Address, Address Line Two 106 East Babcock Street  
Entity Address, City or Town Bozeman  
Entity Address, State or Province MT  
Entity Address, Postal Zip Code 59715  
City Area Code 844  
Local Phone Number 766-9355  
Title of 12(b) Security Common Stock, $0.0001 par value  
Trading Symbol SNOW  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   338.8
Entity Central Index Key 0001640147  
Current Fiscal Year End Date --01-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q2  
Amendment Flag false  
v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jul. 31, 2025
Jan. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,880,720 $ 2,628,798
Short-term investments 1,705,988 2,008,873
Accounts receivable, net 646,682 922,805
Deferred commissions, current 129,873 97,662
Prepaid expenses and other current assets 232,864 211,234
Total current assets 4,596,127 5,869,372
Long-term investments 1,012,904 656,476
Property and equipment, net 283,051 296,393
Operating lease right-of-use assets 262,419 359,439
Goodwill 1,174,978 1,056,559
Intangible assets, net 285,448 278,028
Deferred commissions, non-current 187,206 183,967
Other assets 394,594 333,704
Total assets 8,196,727 9,033,938
Current liabilities:    
Accounts payable 166,786 169,767
Accrued expenses and other current liabilities 622,800 515,454
Operating lease liabilities, current 38,109 35,923
Deferred revenue, current 2,268,387 2,580,039
Total current liabilities 3,096,082 3,301,183
Convertible senior notes, net 2,275,674 2,271,529
Operating lease liabilities, non-current 378,546 377,818
Deferred revenue, non-current 11,540 15,501
Other liabilities 55,296 61,264
Total liabilities 5,817,138 6,027,295
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Preferred stock; $0.0001 par value per share; 200,000 shares authorized, zero shares issued and outstanding as of each July 31, 2025 and January 31, 2025 0 0
Common stock 34 34
Treasury stock, at cost; 417 and 436 shares held as of July 31, 2025 and January 31, 2025, respectively (56,968) (59,505)
Additional paid-in capital 10,939,122 10,355,211
Accumulated other comprehensive income (loss) 2,782 (2,236)
Accumulated deficit (8,512,322) (7,293,575)
Total Snowflake Inc. stockholders’ equity 2,372,648 2,999,929
Noncontrolling interest 6,941 6,714
Total stockholders’ equity 2,379,589 3,006,643
Total liabilities and stockholders’ equity $ 8,196,727 $ 9,033,938
v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares
Jul. 31, 2025
Jan. 31, 2025
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 200,000,000 200,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Treasury stock (in shares) 417,000 436,000
Class A Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,500,000,000 2,500,000,000
Common stock, shares issued (in shares) 339,179,000 [1] 334,301,000
Common stock, shares outstanding (in shares) 338,762,000 [1] 333,865,000
Class B Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 0 185,461,000
Common stock, shares issued (in shares) 0 [1] 0
Common stock, shares outstanding (in shares) 0 [1] 0
[1] On July 3, 2025, all authorized shares of the Company’s Class B common stock were eliminated and the Company’s Class A common stock was renamed to “common stock”, pursuant to the terms of the Company’s amended and restated certificate of incorporation. Unless otherwise noted, all references herein to the Company’s common stock refer to the Class A common stock prior to the effectiveness of the certificate. See Note 12, “Equity,” for further details.
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Income Statement [Abstract]        
Revenue $ 1,144,969 $ 868,823 $ 2,187,043 $ 1,697,532
Cost of revenue 371,815 288,078 720,601 560,595
Gross profit 773,154 580,745 1,466,442 1,136,937
Operating expenses:        
Sales and marketing 501,957 400,625 960,511 801,447
Research and development 492,003 437,660 964,407 848,454
General and administrative 119,470 97,763 329,057 190,911
Total operating expenses 1,113,430 936,048 2,253,975 1,840,812
Operating loss (340,276) (355,303) (787,533) (703,875)
Interest income 49,467 49,265 102,630 104,044
Interest expense (2,074) 0 (4,145) 0
Other expense, net (4,985) (7,946) (33,043) (29,248)
Loss before income taxes (297,868) (313,984) (722,091) (629,079)
Provision for income taxes 62 3,786 5,791 6,507
Net loss (297,930) (317,770) (727,882) (635,586)
Less: net income (loss) attributable to noncontrolling interest 87 (871) 227 (1,699)
Net loss attributable to Snowflake Inc. $ (298,017) $ (316,899) $ (728,109) $ (633,887)
Net loss per share attributable to Snowflake Inc. common stockholders- basic (in dollars per share) [1] $ (0.89) $ (0.95) $ (2.18) $ (1.90)
Net loss per share attributable to Snowflake Inc. common stockholders- diluted (in dollars per share) [1] $ (0.89) $ (0.95) $ (2.18) $ (1.90)
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. common stockholders - basic (in shares) [1] 335,215 334,071 333,957 333,830
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. common stockholders - diluted (in shares) [1] 335,215 334,071 333,957 333,830
[1] On July 3, 2025, all authorized shares of the Company’s Class B common stock were eliminated and the Company’s Class A common stock was renamed to “common stock”, pursuant to the terms of the Company’s amended and restated certificate of incorporation. Unless otherwise noted, all references herein to the Company’s common stock refer to the Class A common stock prior to the effectiveness of the certificate. See Note 12, “Equity,” and Note 14, “Net Loss per Share,” for further details.
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ (297,930) $ (317,770) $ (727,882) $ (635,586)
Cash flow hedges:        
Net change in unrealized gains or losses 318 0 9,105 (52)
Net realized (gains) losses reclassified into net loss (2,832) 26 (3,440) 29
Net change in unrealized gains or losses on available-for-sale debt securities (2,888) 10,304 (659) 2,883
Other 13 4 12 (19)
Total other comprehensive income (loss) (5,389) 10,334 5,018 2,841
Comprehensive loss (303,319) (307,436) (722,864) (632,745)
Less: comprehensive income (loss) attributable to noncontrolling interest 87 (871) 227 (1,699)
Comprehensive loss attributable to Snowflake Inc. $ (303,406) $ (306,565) $ (723,091) $ (631,046)
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Class A Common Stock
Parent [Member]
Common Stock
Treasury Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Noncontrolling Interest
Beginning balance (in shares) at Jan. 31, 2024 [1]       334,453          
Beginning balance at Jan. 31, 2024 $ 5,190,594   $ 5,180,308 $ 34 [1] $ (67,140) $ 9,331,238 $ (8,220) $ (4,075,604) $ 10,286
Beginning balance, treasury stock (in shares) at Jan. 31, 2024         (492)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares) [1]       3,186          
Issuance of common stock upon exercise of stock options 23,480   23,480     23,480      
Issuance of common stock under employee stock purchase plan (in shares) [1]       346          
Issuance of common stock under employee stock purchase plan 46,735   46,735     46,735      
Vesting of restricted stock units (in shares) [1]       5,452          
Vesting of restricted stock units       $ 1 [1]   (1)      
Shares withheld related to net share settlement of equity awards (in shares) [1]       (1,879)          
Shares withheld related to net share settlement of equity awards (275,965)   (275,965)     (275,965)      
Repurchases and retirement of common stock, including transaction costs and excise tax, if any (in shares) [1]       (5,939)          
Repurchases and retirement of common stock, including transaction costs and excise tax, if any (916,329)   (916,329) $ (1) [1]       (916,328)  
Reissuance of treasury stock upon settlement of equity awards (in shares)         32        
Reissuance of treasury stock upon settlement of equity awards 83   83   $ 4,340 (4,257)      
Stock-based compensation 701,735   701,735     701,735      
Other comprehensive loss 2,841   2,841       2,841    
Net income (loss) (635,586)   (633,887)         (633,887) (1,699)
Ending balance (in shares) at Jul. 31, 2024 [1]       335,620          
Ending balance at Jul. 31, 2024 4,137,588   4,129,001 $ 34 [1] $ (62,800) 9,822,965 (5,379) (5,625,819) 8,587
Ending balance, treasury stock (in shares) at Jul. 31, 2024         (460)        
Beginning balance (in shares) at Apr. 30, 2024 [2]       335,264          
Beginning balance at Apr. 30, 2024 4,567,692   4,558,234 $ 34 [2] $ (63,958) 9,546,792 (15,713) (4,908,921) 9,458
Beginning balance, treasury stock (in shares) at Apr. 30, 2024         (469)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares) [2]       1,816          
Issuance of common stock upon exercise of stock options 12,963   12,963     12,963      
Vesting of restricted stock units (in shares) [2]       2,264          
Vesting of restricted stock units       $ 1 [2]   (1)      
Shares withheld related to net share settlement of equity awards (in shares) [2]       (767)          
Shares withheld related to net share settlement of equity awards (98,881)   (98,881)     (98,881)      
Repurchases and retirement of common stock, including transaction costs and excise tax, if any (in shares) [2]       (2,957)          
Repurchases and retirement of common stock, including transaction costs and excise tax, if any (400,000)   (400,000) $ (1) [2]       (399,999)  
Reissuance of treasury stock upon settlement of equity awards (in shares)         9        
Reissuance of treasury stock upon settlement of equity awards 2   2   $ 1,158 (1,156)      
Stock-based compensation 363,248   363,248     363,248      
Other comprehensive loss 10,334   10,334       10,334    
Net income (loss) (317,770)   (316,899)         (316,899) (871)
Ending balance (in shares) at Jul. 31, 2024 [1]       335,620          
Ending balance at Jul. 31, 2024 4,137,588   4,129,001 $ 34 [1] $ (62,800) 9,822,965 (5,379) (5,625,819) 8,587
Ending balance, treasury stock (in shares) at Jul. 31, 2024         (460)        
Beginning balance (in shares) at Jan. 31, 2025   333,865   334,301 [1]          
Beginning balance at Jan. 31, 2025 $ 3,006,643   2,999,929 $ 34 [1] $ (59,505) 10,355,211 (2,236) (7,293,575) 6,714
Beginning balance, treasury stock (in shares) at Jan. 31, 2025 (436)       (436)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares) 847                
Ending balance (in shares) at Apr. 30, 2025 [2]       334,064          
Ending balance at Apr. 30, 2025 $ 2,414,854   2,408,000 $ 34 [2] $ (58,153) 10,672,455 8,171 (8,214,507) 6,854
Ending balance, treasury stock (in shares) at Apr. 30, 2025         (426)        
Beginning balance (in shares) at Jan. 31, 2025   333,865   334,301 [1]          
Beginning balance at Jan. 31, 2025 $ 3,006,643   2,999,929 $ 34 [1] $ (59,505) 10,355,211 (2,236) (7,293,575) 6,714
Beginning balance, treasury stock (in shares) at Jan. 31, 2025 (436)       (436)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares) [1]       4,412          
Issuance of common stock upon exercise of stock options $ 36,678   36,678     36,678      
Issuance of common stock under employee stock purchase plan (in shares) [1]       554          
Issuance of common stock under employee stock purchase plan 53,193   53,193     53,193      
Issuance of common stock in connection with a business combination (in shares) [1]       1          
Vesting of restricted stock units (in shares) [1]       4,753          
Shares withheld related to net share settlement of equity awards (in shares) [1]       (1,627)          
Shares withheld related to net share settlement of equity awards (297,470)   (297,470)     (297,470)      
Repurchases and retirement of common stock, including transaction costs and excise tax, if any (in shares) [1]       (3,214)          
Repurchases and retirement of common stock, including transaction costs and excise tax, if any (490,638)   (490,638)         (490,638)  
Reissuance of treasury stock upon settlement of equity awards (in shares)         19        
Reissuance of treasury stock upon settlement of equity awards 0       $ 2,537 (2,537)      
Stock-based compensation 794,047   794,047     794,047      
Other comprehensive loss 5,018   5,018       5,018    
Net income (loss) (727,882)   (728,109)         (728,109) 227
Ending balance (in shares) at Jul. 31, 2025   338,762 [3]   339,179 [1]          
Ending balance at Jul. 31, 2025 $ 2,379,589   2,372,648 $ 34 [2] $ (56,968) 10,939,122 2,782 (8,512,322) 6,941
Ending balance, treasury stock (in shares) at Jul. 31, 2025 (417)       (417)        
Beginning balance (in shares) at Apr. 30, 2025 [2]       334,064          
Beginning balance at Apr. 30, 2025 $ 2,414,854   2,408,000 $ 34 [2] $ (58,153) 10,672,455 8,171 (8,214,507) 6,854
Beginning balance, treasury stock (in shares) at Apr. 30, 2025         (426)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares) 3,565     3,565 [2]          
Issuance of common stock upon exercise of stock options $ 30,460   30,460     30,460      
Vesting of restricted stock units (in shares) [2]       2,338          
Shares withheld related to net share settlement of equity awards (in shares) [2]       (788)          
Shares withheld related to net share settlement of equity awards (166,136)   (166,136)     (166,136)      
Repurchases and retirement of common stock, including transaction costs and excise tax, if any 202   202         202  
Reissuance of treasury stock upon settlement of equity awards (in shares)         9        
Reissuance of treasury stock upon settlement of equity awards 0       $ 1,185 (1,185)      
Stock-based compensation 403,528   403,528     403,528      
Other comprehensive loss (5,389)   (5,389)       (5,389)    
Net income (loss) (297,930)   (298,017)         (298,017) 87
Ending balance (in shares) at Jul. 31, 2025   338,762 [3]   339,179 [1]          
Ending balance at Jul. 31, 2025 $ 2,379,589   $ 2,372,648 $ 34 [2] $ (56,968) $ 10,939,122 $ 2,782 $ (8,512,322) $ 6,941
Ending balance, treasury stock (in shares) at Jul. 31, 2025 (417)       (417)        
[1] On July 3, 2025, all authorized shares of the Company’s Class B common stock were eliminated and the Company’s Class A common stock was renamed to “common stock”, pursuant to the terms of the Company’s amended and restated certificate of incorporation. Unless otherwise noted, all references herein to the Company’s common stock refer to the Class A common stock prior to the effectiveness of the certificate. See Note 12, “Equity,” for further details.
[2] On July 3, 2025, all authorized shares of the Company’s Class B common stock were eliminated and the Company’s Class A common stock was renamed to “common stock”, pursuant to the terms of the Company’s amended and restated certificate of incorporation. Unless otherwise noted, all references herein to the Company’s common stock refer to the Class A common stock prior to the effectiveness of the certificate. See Note 12, “Equity,” for further details.
[3] On July 3, 2025, all authorized shares of the Company’s Class B common stock were eliminated and the Company’s Class A common stock was renamed to “common stock”, pursuant to the terms of the Company’s amended and restated certificate of incorporation. Unless otherwise noted, all references herein to the Company’s common stock refer to the Class A common stock prior to the effectiveness of the certificate. See Note 12, “Equity,” for further details.
v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ (727,882,000) $ (635,586,000)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 103,641,000 85,332,000
Non-cash operating lease costs 33,998,000 27,568,000
Amortization of deferred commissions 58,954,000 45,586,000
Stock-based compensation, net of amounts capitalized 783,677,000 687,936,000
Net accretion of discounts on investments (13,369,000) (24,772,000)
Net realized and unrealized losses on strategic investments in equity securities 35,265,000 27,203,000
Amortization of debt issuance costs 4,145,000 0
Asset impairment related to office facility exit 108,619,000 0
Deferred income tax (3,445,000) 49,000
Other (3,489,000) 1,918,000
Changes in operating assets and liabilities, net of effects of business combinations:    
Accounts receivable 276,051,000 492,192,000
Deferred commissions (84,864,000) (36,754,000)
Prepaid expenses and other assets (22,338,000) 33,347,000
Accounts payable 7,348,000 91,425,000
Accrued expenses and other liabilities 97,226,000 4,637,000
Operating lease liabilities (26,397,000) (25,289,000)
Deferred revenue (323,871,000) (349,459,000)
Net cash provided by operating activities 303,269,000 425,333,000
Cash flows from investing activities:    
Purchases of property and equipment (61,654,000) (21,562,000)
Capitalized software development costs 0 (13,396,000)
Cash paid for business combinations, net of cash acquired (164,230,000) (8,906,000)
Purchases of intangible assets (1,311,000) 0
Purchases of investments (1,649,044,000) (1,274,742,000)
Sales of investments 18,875,000 40,797,000
Maturities and redemptions of investments 1,502,129,000 1,511,458,000
Settlement of cash flow hedges 0 (749,000)
Net cash provided by (used in) investing activities (355,235,000) 232,900,000
Cash flows from financing activities:    
Proceeds from exercise of stock options 34,446,000 23,664,000
Proceeds from issuance of common stock under employee stock purchase plan 53,193,000 46,735,000
Taxes paid related to net share settlement of equity awards (294,497,000) (278,114,000)
Repurchases of common stock (490,638,000) (916,329,000)
Payments of deferred purchase consideration for business combinations (600,000) 0
Net cash used in financing activities (698,096,000) (1,124,044,000)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 12,222,000 (1,909,000)
Net decrease in cash, cash equivalents, and restricted cash (737,840,000) (467,720,000)
Cash, cash equivalents, and restricted cash—beginning of period 2,698,678,000 1,780,977,000
Cash, cash equivalents, and restricted cash—end of period 1,960,838,000 1,313,257,000
Supplemental disclosures of non-cash investing and financing activities:    
Property and equipment included in accounts payable and accrued expenses 35,392,000 20,168,000
Stock-based compensation included in capitalized software development costs 0 17,141,000
Unpaid taxes related to net share settlement of equity awards included in accrued expenses and other current liabilities 10,247,000 4,719,000
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 1,880,720,000 1,282,045,000
Restricted cash—included in other assets and prepaid expenses and other current assets 80,118,000 31,212,000
Total cash, cash equivalents, and restricted cash $ 1,960,838,000 $ 1,313,257,000
v3.25.2
Organization and Description of Business
 6 Months Ended
Jul. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Description of Business Organization and Description of Business
Snowflake Inc. (Snowflake or the Company) provides a cloud-based data platform, which enables customers to consolidate data into a single source of truth to drive meaningful insights, apply artificial intelligence (AI) to solve business problems, build data applications, and share data and data products. The Company provides its platform through a customer-centric, consumption-based business model, only charging customers for the resources they use. Through its platform, the Company delivers the AI Data Cloud, a network where Snowflake customers, partners, developers, data providers, and data consumers can break down data silos and derive value from a growing number of data sets in secure, governed, and compliant ways. Snowflake was incorporated in the state of Delaware on July 23, 2012.
v3.25.2
Basis of Presentation and Summary of Significant Accounting Policies
 6 Months Ended
Jul. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies
Fiscal Year

The Company’s fiscal year ends on January 31. For example, references to fiscal 2026 refer to the fiscal year ending January 31, 2026.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2025, which was filed with the SEC on March 21, 2025.

In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position as of July 31, 2025 and the results of operations for the three and six months ended July 31, 2025 and 2024, and cash flows for the six months ended July 31, 2025 and 2024. The condensed balance sheet as of January 31, 2025 was derived from the audited consolidated financial statements but does not include all disclosures required by GAAP. The results of operations for the three and six months ended July 31, 2025 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period.

Principles of Consolidation

The condensed consolidated financial statements include the accounts of Snowflake Inc., its wholly-owned subsidiaries, and a majority-owned subsidiary in which the Company has a controlling financial interest. All intercompany transactions and balances have been eliminated in consolidation. The Company records noncontrolling interest in its condensed consolidated financial statements to recognize the minority ownership interest in its majority-owned subsidiary. Profits and losses of the majority-owned subsidiary are attributed to controlling and noncontrolling interests using the hypothetical liquidation at book value method.

Segment Information

The Company has a single operating and reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis, including, but not limited to, the Company’s consolidated net loss, for purposes of making operating decisions, assessing financial performance, and allocating resources.
The following table presents selected financial information with respect to the Company’s single operating segment (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Revenue
$1,144,969 $868,823 $2,187,043 $1,697,532 
Cost of revenue and operating expenses:
Cost of product revenue(1)(2)
302,316 235,582 587,592 455,239 
Cost of professional services and other revenue(2)
69,499 52,496 133,009 105,356 
Sales and marketing(2)
501,957 400,625 960,511 801,447 
Research and development(2)
492,003 437,660 964,407 848,454 
General and administrative(2)
119,470 97,763 329,057 190,911 
Interest income(49,467)(49,265)(102,630)(104,044)
Interest expense2,074 — 4,145 — 
Other expense, net
4,985 7,946 33,043 29,248 
Provision for income taxes
62 3,786 5,791 6,507 
Net loss$(297,930)$(317,770)$(727,882)$(635,586)
________________
(1)Third-party cloud infrastructure expenses incurred in connection with customers’ use of the Snowflake platform and the deployment and maintenance of the platform on public clouds, including different regional deployments, represented approximately 70% and 65% of cost of product revenue for the three months ended July 31, 2025 and 2024, respectively, and 69% and 65% of cost of product revenue for the six months ended July 31, 2025 and 2024, respectively.
(2)Personnel-related expenses, excluding stock-based compensation and associated payroll taxes, represented approximately 38% of the Company’s total cost of revenue and operating expenses for each of the three months ended July 31, 2025 and 2024, and 36% and 38% of the Company’s total cost of revenue and operating expenses for the six months ended July 31, 2025 and 2024, respectively. These expenses consist primarily of salaries, benefits, bonuses, sales commissions and draws paid to the Company’s sales force and certain referral fees paid to third parties, including amortization of deferred commissions, and associated payroll taxes. They also include salaries, benefits and bonuses allocated as part of overhead costs. See Note 12 , “Equity,” for details regarding the Company’s stock-based compensation.

The measure of segment assets is the total assets on the Company’s condensed consolidated balance sheets. See the Company’s condensed consolidated financial statements for other financial information regarding its operating segment.

For information regarding the Company’s revenue by geographic area, see Note 3, “Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations.”

The following table presents the Company’s long-lived assets, comprising property and equipment, net and operating lease right-of-use assets, by geographic area (in thousands):
July 31, 2025January 31, 2025
United States$439,953 $536,885 
Other(1)
105,517 118,947 
Total$545,470 $655,832 
________________
(1)No individual country outside of the United States accounted for more than 10% of the Company’s long-lived assets as of July 31, 2025 and January 31, 2025.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Such estimates include, but are not limited to, stand-alone selling prices (SSP) for each distinct performance obligation, software development costs, the expected period of benefit for deferred commissions, the fair value of intangible assets acquired in business combinations, the useful lives and impairment of long-lived assets, the carrying value of operating lease right-of-use assets, stock-based compensation, accounting for income taxes, and the fair value of investments in marketable and non-marketable securities.
The Company bases its estimates on historical experience and also on assumptions that management considers reasonable. These estimates are assessed on a regular basis; however, actual results could differ from these estimates.

Summary of Significant Accounting Policies

The Company’s significant accounting policies are discussed in “Note 2 – Basis of Presentation and Summary of Significant Accounting Policies” of the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2025, which was filed with the SEC on March 21, 2025. There have been no significant changes to the Company’s accounting policies during the six months ended July 31, 2025, except for updates to the software development costs accounting policy, as described below.

Software Development Costs

The Company capitalizes qualifying internal-use software development costs, which have historically related primarily to its cloud platform, under Accounting Standards Codification (ASC) Topic 350-40, Internal-use Software (ASC 350-40). The costs consist of personnel costs (including related benefits and stock-based compensation) that are incurred during the application development stage. Capitalization of costs begins when two criteria are met: (1) the preliminary project stage is completed, and (2) it is probable that the software will be completed and used for its intended function. Capitalization ceases when the software is substantially complete and ready for its intended use, including the completion of all significant testing. Costs related to preliminary project activities and post-implementation operating activities are expensed as incurred.

Capitalized internal-use software development costs are included in property and equipment, net on the condensed consolidated balance sheets. These costs are amortized over the estimated useful life of the software, which is three years, on a straight-line basis. Cost and accumulated amortization of fully amortized capitalized internal-use software development costs are removed from the Company’s condensed consolidated balance sheets when the related software is no longer in use. The amortization of capitalized internal-use software development costs related to the Company’s platform applications is primarily included in cost of revenue in the condensed consolidated statements of operations.

During the three months ended April 30, 2025, the Company began marketing the Snowflake platform to selected public sector customers who will have contractual rights to take possession of the Company’s software and who will contract with third parties to host the Company’s software. As a result, the Company’s ongoing and future software development costs related to the Snowflake platform must be accounted for under ASC 985-20, Costs of Software to be Sold, Leased or Marketed (ASC 985-20). All costs to establish technological feasibility are expensed as they are incurred. Technological feasibility is established when the working model is complete, which typically occurs at or shortly before the general release of the software products. Costs incurred subsequent to establishing technological feasibility are capitalized until the software product is available for general release to customers, at which point they are amortized on a product-by-product basis. Software development costs capitalized under ASC 985-20 are included in property and equipment, net on the condensed consolidated balance sheets, and are tested for impairment whenever events or changes in circumstances occur that could impact their recoverability. Software development costs that meet the criteria for capitalization were not material for the three and six months ended July 31, 2025.

Software development costs capitalized prior to fiscal 2026 in connection with the Snowflake platform will be amortized over their remaining useful life and recognized as cost of revenue.

Recently Issued Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires annual disclosure on disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. This guidance is effective for the Company for its fiscal year beginning February 1, 2025 on a prospective basis. Early adoption and retrospective application are permitted. The Company is currently evaluating the impact of the adoption of this guidance on its disclosures.
In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires disclosure, on an annual and interim basis, of specified information about certain costs and expenses in the notes to financial statements. This guidance is effective for the Company for its fiscal year beginning February 1, 2027 and interim periods within its fiscal year beginning February 1, 2028 on either a prospective or retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its disclosures
In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which provides a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606, including those assets acquired in a business combination. The practical expedient permits an entity to assume that current conditions as of the balance sheet date do not change for the remaining life of the current accounts receivable and current contract assets. This guidance is effective for the Company for its fiscal year and all interim periods beginning February 1, 2026 on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its condensed consolidated financial statements.
v3.25.2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
 6 Months Ended
Jul. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
Disaggregation of Revenue

Revenue consists of the following (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Product revenue$1,090,496 $829,250 $2,087,309 $1,618,837 
Professional services and other revenue54,473 39,573 99,734 78,695 
Total$1,144,969 $868,823 $2,187,043 $1,697,532 

Revenue by geographic area, based on the location of the Company’s customers (or end-customers under reseller arrangements), was as follows (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Americas:
United States$861,469 $663,630 $1,645,976 $1,295,671 
Other Americas(1)
30,570 22,777 60,231 46,512 
EMEA(1)(2)
185,315 137,872 354,124 269,529 
Asia-Pacific and Japan(1)
67,615 44,544 126,712 85,820 
Total$1,144,969 $868,823 $2,187,043 $1,697,532 
________________
(1)No individual country in these areas represented more than 10% of the Company’s revenue for all periods presented.
(2)Includes Europe, the Middle East and Africa.

Accounts Receivable, Net

As of July 31, 2025 and January 31, 2025, allowance for credit losses of $7.8 million and $4.8 million, respectively, was included in the Company’s accounts receivable, net balance.
Significant Customers

For purposes of assessing the concentration of credit risk and significant customers, a group of customers under common control or customers that are affiliates of each other are regarded as a single customer. As of July 31, 2025 and January 31, 2025, there were no customers that represented 10% or more of the Company’s accounts receivable, net balance. Additionally, there were no customers that represented 10% or more of the Company’s revenue for each of the three and six months ended July 31, 2025 and 2024.

Deferred Revenue

The Company recognized $827.6 million and $642.7 million of revenue for the three months ended July 31, 2025 and 2024, respectively, from the deferred revenue balances as of April 30, 2025 and 2024, respectively.

The Company recognized $1.4 billion and $1.2 billion of revenue for the six months ended July 31, 2025 and 2024, respectively, from the deferred revenue balances as of January 31, 2025 and 2024, respectively.

Remaining Performance Obligations

Remaining performance obligations (RPO) represent the amount of contracted future revenue that has not yet been recognized, including (i) deferred revenue and (ii) non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. The Company’s RPO excludes performance obligations from on-demand arrangements as there are no minimum purchase commitments associated with these arrangements, and certain time and materials contracts that are billed in arrears. Portions of RPO that are not yet invoiced and are denominated in foreign currencies are revalued into U.S. dollars each period based on the applicable period-end exchange rates.

As of July 31, 2025, the Company’s RPO was $6.9 billion, of which the Company expects approximately 50% to be recognized as revenue in the 12 months ending July 31, 2026 based on historical customer consumption patterns. However, the amount and timing of revenue recognition are generally dependent upon customers’ future consumption, which is inherently variable at customers’ discretion and can extend beyond the original contract term in cases where customers are permitted to roll over unused capacity to future periods, generally on the purchase of additional capacity at renewal.
v3.25.2
Cash Equivalents, Investments and Strategic Investments
 6 Months Ended
Jul. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents, Investments and Strategic Investments Cash Equivalents, Investments and Strategic Investments
Cash Equivalents and Investments

The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

July 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,320,540 $— $— $1,320,540 
Time deposits115,074 — — 115,074 
U.S. government securities52,853 — (3)52,850 
Corporate notes and bonds10,836 — (2)10,834 
Total cash equivalents1,499,303 — (5)1,499,298 
Investments:
Corporate notes and bonds1,893,404 1,850 (1,189)1,894,065 
U.S. government and agency securities572,230 214 (656)571,788 
Commercial paper135,245 7 (161)135,091 
Certificates of deposit117,920 42 (14)117,948 
Total investments2,718,799 2,113 (2,020)2,718,892 
Total cash equivalents and investments$4,218,102 $2,113 $(2,025)$4,218,190 
January 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,741,089 $— $— $1,741,089 
U.S. government securities388,578 92 — 388,670 
Time deposits113,851 — — 113,851 
Corporate notes and bonds4,466 — — 4,466 
Commercial paper3,064 — — 3,064 
Total cash equivalents2,251,048 92 — 2,251,140 
Investments:
Corporate notes and bonds1,559,893 2,177 (1,520)1,560,550 
U.S. government and agency securities609,937 528 (727)609,738 
Commercial paper307,752 142 (38)307,856 
Certificates of deposit187,112 97 (4)187,205 
Total investments2,664,694 2,944 (2,289)2,665,349 
Total cash equivalents and investments$4,915,742 $3,036 $(2,289)$4,916,489 

The Company included $24.2 million and $23.6 million of interest receivable in prepaid expenses and other current assets on the condensed consolidated balance sheets as of July 31, 2025 and January 31, 2025, respectively. The Company did not recognize an allowance for credit losses against interest receivable as of July 31, 2025 and January 31, 2025 because such potential losses were not material.

As of July 31, 2025, the contractual maturities of the Company’s available-for-sale marketable debt securities did not exceed 36 months. The estimated fair values of available-for-sale marketable debt securities, classified as short-term or long-term investments on the Company’s condensed consolidated balance sheets, by remaining contractual maturity, are as follows (in thousands):

July 31, 2025
Estimated
Fair Value
Due within 1 year$1,705,988 
Due in 1 year to 3 years
1,012,904 
Total$2,718,892 

Gross unrealized losses on the Company’s available-for-sale marketable debt securities were not material as of July 31, 2025 and January 31, 2025.

For available-for-sale marketable debt securities with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis. The decline in fair values of these securities due to credit related factors was not material as of July 31, 2025 and January 31, 2025.
Strategic Investments

The Company’s strategic investments consist primarily of non-marketable equity securities recorded at cost minus impairment, if any, and adjusted for observable transactions for the same or similar investments of the same issuer (referred to as the Measurement Alternative).

The following table presents the Company’s strategic investments by type (in thousands):

July 31, 2025January 31, 2025
Equity securities:
Non-marketable equity securities under Measurement Alternative$325,936 $281,158 
Non-marketable equity securities under equity method5,707 5,491 
Marketable equity securities8,385 13,833 
Debt securities:
Non-marketable debt securities11,000 750 
Total strategic investments—included in other assets$351,028 $301,232 

The following table summarizes the gains and losses associated with the Company’s strategic investments in equity securities (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Unrealized losses on non-marketable equity securities under Measurement Alternative:
Impairments$(5,000)$(7,158)$(31,521)$(25,911)
Net unrealized gains (losses) on marketable equity securities
(980)650 (5,448)(3,005)
Net unrealized losses on strategic investments in equity securities
(5,980)(6,508)(36,969)(28,916)
Net realized gains on strategic investments in equity securities sold(1)
400 — 1,704 1,713 
Total—included in other expense, net
$(5,580)$(6,508)$(35,265)$(27,203)
________________
(1)Represents the difference between the sale proceeds and the carrying value of the securities at the beginning of the period or the purchase date, if later.

The cumulative upward adjustments and the cumulative impairments to the carrying value of the non-marketable equity securities accounted for using the Measurement Alternative held by the Company as of July 31, 2025 were $18.3 million and $60.5 million, respectively.
v3.25.2
Fair Value Measurements
 6 Months Ended
Jul. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.

The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of July 31, 2025 (in thousands):

Level 1
Level 2
Level 3
Total
Assets:
Cash equivalents:
Money market funds$1,320,540 $— $— $1,320,540 
Time deposits— 115,074 — 115,074 
U.S. government securities— 52,850 — 52,850 
Corporate notes and bonds— 10,834 — 10,834 
Short-term investments:
Corporate notes and bonds— 1,079,287 — 1,079,287 
U.S. government and agency securities— 373,662 — 373,662 
Commercial paper— 135,091 — 135,091 
Certificates of deposit— 117,948 — 117,948 
Long-term investments:
Corporate notes and bonds— 814,778 — 814,778 
U.S. government and agency securities— 198,126 — 198,126 
Strategic investments:
Marketable equity securities
8,385 — — 8,385 
Non-marketable debt securities
— — 11,000 11,000 
Derivative assets:
Foreign currency forward contracts— 7,255 — 7,255 
Total assets$1,328,925 $2,904,905 $11,000 $4,244,830 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts$— $(1,458)$— $(1,458)
Total liabilities
$— $(1,458)$— $(1,458)
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of January 31, 2025 (in thousands):

Level 1
Level 2
Level 3
Total
Assets:
Cash equivalents:
Money market funds$1,741,089 $— $— $1,741,089 
U.S. government securities— 388,670 — 388,670 
Time deposits— 113,851 — 113,851 
Corporate notes and bonds— 4,466 — 4,466 
Commercial paper— 3,064 — 3,064 
Short-term investments:
Corporate notes and bonds— 1,059,181 — 1,059,181 
U.S. government and agency securities— 456,673 — 456,673 
Commercial paper— 307,856 — 307,856 
Certificates of deposit— 185,163 — 185,163 
Long-term investments:
— 
Corporate notes and bonds— 501,369 — 501,369 
U.S. government and agency securities— 153,065 — 153,065 
Certificates of deposit— 2,042 — 2,042 
Strategic investments:
Marketable equity securities
13,833 — — 13,833 
Non-marketable debt securities
— — 750 750 
Derivative assets:
Foreign currency forward contracts— 1,579 — 1,579 
Total assets$1,754,922 $3,176,979 $750 $4,932,651 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts$— $(1,639)$— $(1,639)
Total liabilities
$— $(1,639)$— $(1,639)

The Company determines the fair value of its security holdings based on pricing from the Company’s service providers and market prices from industry-standard independent data providers. Such market prices may be quoted prices in active markets for identical assets (Level 1 inputs) or pricing determined using inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs), such as yield curve, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, broker and dealer quotes, as well as other relevant economic measures.

The Company’s derivative financial instruments, consisting of foreign currency forward contracts, are carried at fair value on the condensed consolidated balance sheets. The following table summarizes the notional amounts of the Company’s outstanding derivative financial instruments (in thousands):

July 31, 2025January 31, 2025
Foreign currency forward contracts not designated as hedging instruments
$167,790 $222,027 
Foreign currency forward contracts designated as cash flow hedges
78,144 — 
Total derivative financial instruments
$245,934 $222,027 

These derivative financial instruments did not have a material impact on the Company’s condensed consolidated financial statements for all periods presented.
The Company’s non-marketable equity securities accounted for using the Measurement Alternative are recorded at fair value on a non-recurring basis. When indicators of impairment exist or observable price changes of qualified transactions occur, the respective non-marketable equity security would be classified within Level 3 of the fair value hierarchy because significant unobservable inputs or data in an inactive market are used in estimating their fair value. The estimation of fair value for these assets requires the use of an observable transaction price or other unobservable inputs, including the volatility, rights, and obligations of the securities the Company holds. See Note 4, “Cash Equivalents, Investments and Strategic Investments,” for details regarding the Company’s strategic investments.

See Note 10, “Convertible Senior Notes,” for the fair value measurement of the Company’s convertible senior notes.
v3.25.2
Property and Equipment, Net
 6 Months Ended
Jul. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

July 31, 2025January 31, 2025
Leasehold improvements$117,022 $97,324 
Computers, equipment, and software65,526 49,575 
Furniture and fixtures29,676 25,473 
Capitalized software development costs
223,364 209,684 
Construction in progress—capitalized software development costs
13,512 28,672 
Construction in progress—other16,151 39,106 
Total property and equipment, gross465,251 449,834 
Less: accumulated depreciation and amortization(1)
(182,200)(153,441)
Total property and equipment, net$283,051 $296,393 
________________
(1)Includes $117.2 million and $84.8 million of accumulated amortization related to capitalized software development costs as of July 31, 2025 and January 31, 2025, respectively.

Depreciation and amortization expense was $27.0 million and $51.7 million for the three and six months ended July 31, 2025, respectively. Included in these amounts were the amortization of capitalized software development costs of $17.0 million and $33.8 million for the three and six months ended July 31, 2025, respectively.

Depreciation and amortization expense was $21.2 million and $38.0 million for the three and six months ended July 31, 2024, respectively. Included in these amounts were the amortization of capitalized software development costs of $13.3 million and $24.2 million for the three and six months ended July 31, 2024, respectively.

During the six months ended July 31, 2025, the Company recognized impairment charges of $20.8 million, mainly for leasehold improvements and furniture and fixtures, primarily relating to the cease-use of its San Mateo office facility. Such impairment charges were recorded as general and administrative expenses on the condensed consolidated statement of operations. See Note 11, “Commitments and Contingencies,” for further details. Impairment charges were not material for the six months ended July 31, 2024.
v3.25.2
Business Combinations
 6 Months Ended
Jul. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combinations Business Combinations
Fiscal 2026

Crunchy Data Solutions, Inc.

On June 6, 2025, the Company acquired all of the outstanding capital stock of Crunchy Data Solutions, Inc. (Crunchy Data), a privately-held company that provides PostgreSQL technology, for $164.5 million in cash. The Company acquired Crunchy Data primarily for its talent and developed technology. The Company has accounted for this transaction as a business combination.

The following table summarizes the preliminary allocation of purchase consideration to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition:

Estimated Fair Value
(in thousands)
Estimated Weighted-Average Useful Life
(in years)
Cash
$221 
Accounts receivable
4,323 
Developed technology intangible assets
46,000 5
Customer relationships intangible assets
12,000 1.6
Deferred revenue
(12,028)
Other net tangible liabilities
(916)
Deferred tax liabilities, net(1)
(3,405)
Total identifiable net assets
46,195 
Goodwill
118,256 
Total purchase consideration
$164,451 
________________
(1)Deferred tax liabilities, net primarily relate to the intangible asset acquired and the amount presented is net of deferred tax assets.

The fair value of the developed technology intangible assets were estimated using the discounted cash flow method, which utilizes assumptions including projected future revenue generated from the acquired developed technology, projected profit margin, discount rate, and technology migration curve. The acquired intangible assets had a total weighted-average amortization period of 4.3 years.

The excess of purchase consideration over the preliminary fair values of identifiable net assets acquired was recorded as goodwill, which is not deductible for income tax purposes. The Company believes the goodwill balance associated with this business combination represents the synergies expected from expanded market opportunities when integrating the acquired developed technologies with the Company’s offerings.

Acquisition-related costs, recorded as general and administrative expenses, associated with this business combination were not material during the six months ended July 31, 2025.

From the date of acquisition through July 31, 2025, revenue attributable to Crunchy Data, included in the Company’s condensed consolidated statements of operations for the three and six months ended July 31, 2025 was not material. It was impracticable to determine the effect on the Company’s net loss attributable to Crunchy Data as its operation has been integrated into the Company’s ongoing operations since the date of acquisition.
Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information summarizes the combined results of operations of the Company and Crunchy Data, as if Crunchy Data had been acquired as of February 1, 2024 (in thousands):

Pro Forma
Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
(unaudited)
Revenue$1,148,433 $876,295 $2,198,714 $1,711,975 
Net loss$(304,547)$(329,074)$(744,352)$(657,840)

The pro forma financial information for all periods presented above has been calculated after adjusting the results of operations of Crunchy Data to reflect certain business combination effects, including the amortization of the acquired intangible assets, stock-based compensation, income tax impact, and acquisition-related costs incurred by the Company and Crunchy Data as though this business combination occurred as of February 1, 2024, the beginning of the Company’s fiscal 2025. The historical consolidated financial information in the unaudited pro forma table above has been adjusted in the pro forma combined financial results to give effect to pro forma events that are directly attributable to this business combination, reasonably estimable, and factually supportable. The pro forma financial information is for informational purposes only and is not indicative of the results of operations that would have been achieved if this business combination had taken place as of February 1, 2024.

Fiscal 2025

During the three months ended July 31, 2024, the Company acquired certain technology assets and hired key employees from a privately-held company for $10.8 million in cash. The Company has accounted for this transaction as a business combination. In allocating the aggregate purchase consideration based on the estimated fair values, the Company recorded $2.5 million as a developed technology intangible asset (to be amortized over an estimated useful life of five years), and $8.3 million as goodwill, which is deductible for income tax purposes.

The excess of purchase consideration over the fair value of net tangible and identifiable assets acquired was recorded as goodwill. The Company believes the goodwill balance associated with this business combination is primarily attributed to the assembled workforce and expected synergies arising from the acquisition.

Acquisition-related costs, recorded as general and administrative expenses, associated with this business combination were not material during the six months ended July 31, 2024.

Pro forma financial information for this business combination has not been presented, as the effects of this business combination were not material to the Company’s condensed consolidated financial statements.
v3.25.2
Intangible Assets and Goodwill
 6 Months Ended
Jul. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
Intangible Assets, Net

Intangible assets, net consisted of the following (in thousands):

July 31, 2025
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$317,364 $(115,204)$202,160 
Developer community154,900 (101,818)53,082 
Assembled workforce55,732 (41,974)13,758 
Customer relationships
16,400 (2,068)14,332 
Patents8,874 (8,484)390 
Other
1,311 (11)1,300 
Total finite-lived intangible assets$554,581 $(269,559)$285,022 
Indefinite-lived intangible assets—trademarks426 
Total intangible assets, net$285,448 

January 31, 2025
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$277,063 $(92,033)$185,030 
Developer community154,900 (86,472)68,428 
Assembled workforce55,732 (36,929)18,803 
Patents8,874 (8,005)869 
Customer relationships
4,400 (328)4,072 
Total finite-lived intangible assets$500,969 $(223,767)$277,202 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$278,028 

Amortization expense of intangible assets was $27.8 million and $51.9 million for the three and six months ended July 31, 2025, respectively, and $23.9 million and $47.3 million for the three and six months ended July 31, 2024, respectively. Cost and accumulated amortization of fully amortized intangible assets are removed from the Company's consolidated balance sheets when they are no longer in use.

As of July 31, 2025, future amortization expense is expected to be as follows (in thousands):

Amount
Fiscal Year Ending January 31,
Remainder of 2026$57,429 
2027107,594 
202871,015 
202929,203 
203015,923 
Thereafter3,858 
Total$285,022 
Goodwill

Changes in goodwill were as follows (in thousands):

Amount
Balance—January 31, 2025 and April 30, 2025
$1,056,559 
Additions and related adjustments(1)
118,419 
Balance—July 31, 2025
$1,174,978 
________________
(1)Include measurement period adjustments related to the fair values of the assets acquired and liabilities assumed in business combinations. These adjustments did not have a material impact on goodwill.
v3.25.2
Accrued Expenses and Other Current Liabilities
 6 Months Ended
Jul. 31, 2025
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):

July 31, 2025January 31, 2025
Accrued compensation$222,333 $194,630 
Accrued third-party cloud infrastructure expenses101,812 77,944 
Employee payroll tax withheld on employee stock transactions52,886 14,025 
Employee contributions under employee stock purchase plan40,519 46,576 
Liabilities associated with sales, marketing and business development programs30,202 44,017 
Accrued purchases of property and equipment21,702 9,896 
Accrued taxes17,958 25,819 
Accrued professional services14,621 14,005 
Other120,767 88,542 
Total accrued expenses and other current liabilities$622,800 $515,454 
v3.25.2
Convertible Senior Notes
 6 Months Ended
Jul. 31, 2025
Debt Disclosure [Abstract]  
Convertible Senior Notes Convertible Senior Notes
In September 2024, the Company issued an aggregate principal amount of $2.3 billion of convertible senior notes in a private placement to qualified institutional buyers, comprising of (i) $1.15 billion aggregate principal amount of 0% convertible senior notes due 2027 (2027 Notes) and (ii) $1.15 billion aggregate principal amount of 0% convertible senior notes due 2029 (2029 Notes, and together with the 2027 Notes, the Notes). Each series of Notes was issued pursuant to separate indentures, as supplemented (each an Indenture and together, the Indentures), between the Company and U.S. Bank Trust Company, National Association, as trustee.

The Notes are general, senior unsecured obligations of the Company. The 2027 Notes will mature on October 1, 2027 and the 2029 Notes will mature on October 1, 2029, in each case unless earlier converted, redeemed, or repurchased. Neither the 2027 Notes nor the 2029 Notes bear regular interest, and the principal amount of the Notes will not accrete. The Company may elect or be required to pay special interest on the Notes under certain circumstances in accordance with the terms of the applicable Indenture. Special interest, if any, will be payable semiannually in arrears on April 1 and October 1 of each year, beginning on April 1, 2025. The total proceeds from the issuance of the Notes were approximately $2.27 billion, net of $31.2 million of debt issuance costs.
The following table presents the details of each series of Notes:

Initial Conversion Rate per $1,000 principal
Initial Conversion Price
Initial number of shares
(in thousands)
2027 Notes
6.3492$157.50 7,302 
2029 Notes
6.3492$157.50 7,302 

The conversion rate for each series of Notes is subject to adjustment under certain circumstances in accordance with the terms of the applicable Indenture. In addition, following certain corporate events that occur prior to the maturity date of the relevant series of Notes or if the Company delivers a notice of redemption in respect of a series of Notes, the Company will, in certain circumstances, increase the conversion rate of the relevant series of Notes for a holder who elects to convert its Notes of the applicable series in connection with such a corporate event or convert its Notes called (or deemed called) for redemption during the related redemption period (as defined in the applicable Indenture), as the case may be.

Holders may convert all or any portion of the 2027 Notes and 2029 Notes at their option at any time prior to the close of business on the business day immediately preceding July 1, 2027 and July 1, 2029, respectively, in each case only upon satisfaction of one or more of the following conditions:

(1) during any fiscal quarter commencing after the fiscal quarter ending on January 31, 2025 (and only during such fiscal quarter), if the last reported sale price of the Company’s common stock, par value $0.0001 per share, for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price for the relevant series of Notes on each applicable trading day (Sale Price Trigger);

(2) during the five business day period after any ten consecutive trading day period (Measurement Period) in which the trading price (as defined in the Indentures) per $1,000 principal amount of the 2027 Notes or the 2029 Notes, as applicable, for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate for such Notes on each such trading day;

(3) if the Company calls the relevant series of Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date, but only with respect to the Notes called (or deemed called) for redemption; or

(4) upon the occurrence of specified corporate events as set forth in the applicable Indenture.

On or after July 1, 2027, in the case of the 2027 Notes, and on or after July 1, 2029, in the case of the 2029 Notes, until the close of business on the second scheduled trading day immediately preceding the relevant maturity date, holders of the relevant series of Notes may convert all or any portion of their Notes of such series at any time, regardless of the foregoing conditions.

Upon conversion, the Company may satisfy its conversion obligation by paying or delivering, as the case may be, cash, shares of the Company’s common stock or a combination of both, at the Company’s election, in the manner and subject to the terms and conditions provided in the applicable Indenture.
The Company may, at its option, redeem for cash all or any portion of the 2027 Notes (subject to the partial redemption limitation set forth in the Indenture governing the 2027 Notes), on or after April 6, 2026 if the last reported sale price of the Company’s common stock has been at least 150% of the conversion price then in effect for the 2027 Notes for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2027 Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date. The Company may, at its option, redeem for cash all or any portion of the 2029 Notes (subject to the partial redemption limitation set forth in the Indenture governing the 2029 Notes), on or after October 6, 2027 if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for the 2029 Notes for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2029 Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date. No sinking fund is provided for the Notes.

If the Company undergoes a fundamental change (as defined in the applicable Indenture) prior to the maturity date of a series of Notes, then, subject to certain conditions and except as set forth in the applicable Indenture, holders of the relevant series of Notes may require the Company to repurchase for cash all or any portion of their Notes of such series at a fundamental change repurchase price equal to 100% of the principal amount of the relevant series of Notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the relevant fundamental change repurchase date.

Each of the Indentures governing the 2027 Notes or the 2029 Notes includes customary covenants and sets forth certain events of default after which the relevant series of Notes may be declared immediately due and payable and sets forth certain types of bankruptcy or insolvency events of default (as defined in the applicable Indenture) involving the Company after which such Notes become automatically due and payable.

Each series of Notes is accounted for as a liability in its entirety, measured at amortized cost. The debt issuance costs for each series of the Notes are amortized to interest expense using the effective interest method over their respective terms, with effective interest rates of 0.04% for the 2027 Notes and 0.02% for the 2029 Notes.

During the three months ended July 31, 2025, the Sale Price Trigger was met and as a result, holders may convert the Notes at any time during the three months ending October 31, 2025. The Company continues to classify the net carrying amount of the Notes as a non-current liability as the Company has the option to settle the obligation in shares upon conversion and the Notes’ maturity dates are more than 12 months away.

The following table presents the net carrying values and fair values of each series of Notes as of July 31, 2025 (in thousands):

Principal
Unamortized Debt Issuance Costs
Net Carrying Value
Fair Value
Amount
Leveling
2027 Notes
$1,150,000 $11,299 $1,138,701 $1,742,262 Level 2
2029 Notes
$1,150,000 $13,027 $1,136,973 $1,779,694 Level 2

The fair value was determined based on the quoted prices of the Notes in an inactive market on the last traded day of the fiscal quarter and has been classified as Level 2 in the fair value hierarchy.

Amortization of debt issuance costs was not material for the three and six months ended July 31, 2025.

The Company used a portion of the net proceeds from the offering to (i) pay the $195.5 million cost of the privately negotiated capped call transactions relating to each series of the Notes, as described below, and (ii) repurchase $399.6 million of its common stock from purchasers of the Notes in the offering in privately negotiated transactions entered into in connection with the Notes offering at a purchase price of $112.50 per share.
Capped Call Transactions

In connection with the Notes offering, the Company entered into privately negotiated capped call transactions relating to each series of Notes (Capped Calls) with certain of the initial purchasers or affiliates thereof and certain other financial institutions. The Capped Calls are generally expected to reduce the potential dilution to the Company’s common stock upon any conversion of the relevant series of the Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted Notes of such series, as the case may be, with such reduction and/or offset subject to a cap based on a cap price initially equal to $225.00 per share.

The following table sets forth other key terms (subject to certain adjustments) and premiums paid for the Capped Calls related to each series of Notes (in thousands, except per share data):

Capped Calls Entered into in Connection with the Offering of the 2027 Notes
Capped Calls Entered into in Connection with the Offering of the 2029 Notes
Initial number of shares covered
7,302 7,302 
Initial strike price
$157.50 $157.50 
Initial cap price
$225.00 $225.00 
Total premium paid
$94,300 $101,200 

The Capped Calls are separate transactions, and not part of the terms of any series of Notes. As the Capped Calls qualify for a scope exception from derivative accounting for instruments that are both indexed to the issuer’s own stock and classified in stockholders’ equity, the premiums paid for the purchases of the Capped Calls was recorded as a reduction to the additional paid-in capital and will not be remeasured as long as they continue to meet the conditions for equity classification.

The Company elected to integrate the Capped Calls with the Notes for income tax purposes pursuant to applicable U.S. Treasury Regulations. Accordingly, the premiums paid for the purchases of the Capped Calls are deductible for income tax purposes over the term of the Notes.
v3.25.2
Commitments and Contingencies
 6 Months Ended
Jul. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Operating Leases—The Company leases its facilities for office space under non-cancelable operating leases with various expiration dates through fiscal 2039. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments.

During the six months ended July 31, 2025, the Company recognized impairment charges of $87.8 million for operating lease right-of-use assets, and $20.8 million for property and equipment, net, primarily relating to the cease-use of its San Mateo office facility. These impairment charges represent the amounts by which the carrying values of the asset groups exceeded their estimated fair values, and were recorded as general and administrative expenses on the condensed consolidated statement of operations. The fair values of the impaired asset groups were estimated using discounted cash flow models (income approach) based on market participant assumptions, including the expected downtime prior to the commencement of future subleases, projected sublease income over the remaining lease periods, and discount rates to reflect the level of risk associated with receiving future cash flows. These assumptions are classified within Level 3 inputs of the fair value hierarchy. The fair values of the impaired asset groups are not material.

As of July 31, 2025, the Company had committed $38.4 million for leases signed but not yet commenced. These leases will commence on various dates starting in fiscal 2026 with lease terms ranging from 5.3 years to 6.1 years.

In addition, the Company subleases certain of its unoccupied facilities to third parties with various expiration dates through fiscal 2030. Such subleases have all been classified as operating leases. Sublease income is recorded as a reduction to the Company’s operating lease costs. Sublease income was not material for any of the periods presented.
Other Contractual Commitments—Other contractual commitments relate mainly to third-party cloud infrastructure agreements and subscription arrangements used to facilitate the Company’s operations at the enterprise level. There were no material contractual obligations that were entered into during the six months ended July 31, 2025 that were outside the ordinary course of business.

401(k) Plan—The Company sponsors a 401(k) defined contribution plan covering all eligible U.S. employees. Contributions to the 401(k) plan are discretionary. The Company did not make any matching contributions to the 401(k) plan for each of the three and six months ended July 31, 2025 and 2024.

Legal Matters—On March 23, 2021, a former employee filed a charge with the National Labor Relations Board (NLRB) claiming that he was terminated in retaliation for engaging in concerted activity protected under the National Labor Relations Act. On September 15, 2023, following a hearing before a NLRB administrative law judge, the administrative law judge issued his ruling in favor of the former employee and ordered that he be awarded certain compensatory and other damages. The Company is appealing the ruling to the Board of the NLRB. The Company believes it is reasonably possible that a loss could ultimately result from an unfavorable outcome and that an estimate of the potential range of loss is between zero and $25 million, plus interest. No material loss accrual was recorded on the Company’s condensed consolidated balance sheets as of July 31, 2025 and January 31, 2025, because management believes the likelihood of material loss resulting from this charge is not probable given the further appellate proceedings that are due to take place.

On February 29, 2024, a stockholder class action lawsuit was filed against the Company, the Company’s former Chief Executive Officer, and the Company’s Chief Financial Officer in the United States District Court in the Northern District of California, alleging violations under Sections 10(b) and 20(a) of the Exchange Act. The complaint seeks an unspecified amount of damages, attorneys’ fees, expert fees, and other costs. On October 28, 2024, an amended complaint was filed by the lead plaintiff. On December 23, 2024, the Company filed a motion to dismiss the amended complaint. On January 29, 2025, the lead plaintiff informed the Company that it would seek leave to file a second amended complaint rather than respond to the motion to dismiss. On April 7, 2025, the lead plaintiff filed its second amended complaint. On June 6, 2025, the Company filed a motion to dismiss the second amended complaint. On August 5, 2025, the lead plaintiff filed its opposition to the motion to dismiss. The Company’s reply brief in support of its motion to dismiss is due on September 19, 2025. In addition, since the filing of the class action lawsuit, five additional complaints containing securities derivative claims have been filed against the Company and certain of the Company’s directors and executive officers alleging similar violations. The derivative claims have been stayed pending resolution of the anticipated motion to dismiss the class action lawsuit. The Company is unable to estimate any reasonably possible loss, or range of loss, with respect to these matters at this time. The Company and the other defendants intend to vigorously defend against the claims in these actions.

On June 13, 2024, a class action was filed in the United States District Court for the District of Montana against the Company alleging that the Company failed to take reasonable measures to secure systems that contained consumer data, thereby allowing threat actors to access and exfiltrate personally identifiable information. In the months that followed, numerous additional class actions making the same or similar allegations were filed in the United States and Canada against the Company and/or customers whose consumer or employee data was exfiltrated. Among other claims, the complaints assert common law claims for negligence, breach of fiduciary duty, breach of implied contract, and unjust enrichment, as well as statutory claims, and seek an unspecified amount of damages, attorneys’ fees and costs, as well as injunctive relief. On October 4, 2024, an order was issued by the United States Judicial Panel on Multidistrict Litigation combining the class actions filed in the United States into a multidistrict litigation in the District of Montana. On February 3, 2025, plaintiffs filed their representative complaint on behalf of the consumer plaintiffs. On February 14, 2025, the Court created a separate financial institution track to represent the interests of certain financial institutions (FI Plaintiffs) and ordered that a separate FI Plaintiff representative complaint be filed. On April 7, 2025, an FI Plaintiff representative complaint was filed. On April 14, 2025, the plaintiffs filed a second amended representative complaint on behalf of the consumer plaintiffs. On May 16, 2025, the Company filed a motion to dismiss the second amended representative complaint on behalf of the consumer plaintiffs. On May 20, 2025, the plaintiffs filed a third amended representative complaint that asserted additional claims against the Company on behalf of individuals impacted by the breach of a Snowflake customer account containing personally identifiable information from the Los Angeles Unified School District (LAUSD Claims). On June 26, 2025, the Company moved to dismiss the FI Plaintiff representative complaint. On July 30, 2025, the Company moved to dismiss the LAUSD Claims. Oral argument is scheduled to take place on the three motions to dismiss on October 6, 2025. In addition to the multidistrict litigation, a class action is pending in the Supreme Court of British Columbia. The Company is unable to estimate any reasonably possible loss, or range of loss, with respect to these matters at this time. The Company intends to vigorously defend against the claims in these actions.
In addition, the Company is involved from time to time in various claims and legal actions arising in the ordinary course of business. While it is not feasible to predict or determine the ultimate outcome of these matters, the Company believes that none of its current legal proceedings will have a material adverse effect on its financial position, results of operations, or cash flows.

Letters of Credit—As of July 31, 2025, the Company had a total of $20.8 million in cash collateralized letters of credit outstanding, substantially in favor of certain landlords for the Company’s leased facilities. These letters of credit renew annually and expire at various dates through fiscal 2033.

Indemnification—The Company enters into indemnification provisions under agreements with other parties in the ordinary course of business, including business partners, investors, contractors, customers, and the Company’s officers, non-employee directors, and certain employees. The Company has agreed to indemnify and defend the indemnified party for claims and related losses suffered or incurred by the indemnified party from actual or threatened third-party claims due to the Company’s activities or non-compliance with certain representations and warranties made by the Company. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. For each of the three and six months ended July 31, 2025 and 2024, losses recorded in the condensed consolidated statements of operations in connection with the indemnification provisions, where the Company is an indemnifying party, were not material.
v3.25.2
Equity
 6 Months Ended
Jul. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Equity Equity
Common Stock—On July 3, 2025, the Company filed an amended and restated certificate of incorporation with the Secretary of State of the State of Delaware effecting (i) the elimination of the Company’s Class B common stock, and (ii) the renaming of the Company’s Class A common stock to “common stock”. Upon the effectiveness of the certificate, the Company’s total number of authorized shares of Class B common stock was reduced from 185.5 million shares to zero. Holders of common stock are entitled to one vote per share on all matters subject to a stockholder vote. This amendment had no impact on the Company’s issued and outstanding shares, additional paid-in capital, or accumulated deficit. Unless otherwise noted, all references herein to the Company’s common stock refer to the Class A common stock prior to the effectiveness of the certificate.

The Company had reserved shares of common stock for future issuance under the Company’s equity incentive plans as follows (in thousands):

July 31, 2025January 31, 2025
2012 Equity Incentive Plan:
Options outstanding15,655 20,067 
2020 Equity Incentive Plan:
Options outstanding1,586 1,586 
Restricted stock units outstanding25,267 24,790 
Shares available for future grants77,906 64,834 
2020 Employee Stock Purchase Plan:
Shares available for future grants19,230 16,446 
Total
139,644 127,723 

Stock Repurchase Program and Treasury Stock—In February 2023, the Company’s board of directors authorized a stock repurchase program of up to $2.0 billion of the Company’s outstanding common stock. Repurchases may be effected, from time to time, either on the open market (including via pre-set trading plans), in privately negotiated transactions, or through other transactions in accordance with applicable securities laws. The timing and amount of any repurchases will be determined by management based on an evaluation of market conditions and other factors. The program does not obligate the Company to acquire any particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. In August 2024, the Company’s board of directors authorized the repurchase of an additional $2.5 billion of its outstanding common stock and extended the expiration date of the stock repurchase program from March 2025 to March 2027.

The following table summarizes the stock repurchase activity under the Company’s stock repurchase program (in thousands, except per share data):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Number of shares repurchased— 2,957 3,214 5,939 
Weighted-average price per share(1)
$— $135.28 $152.63 $154.29 
Aggregate purchase price(1)
$— $399,955 $490,590 $916,239 
________________
(1)Excludes transaction costs and excise tax, if any, associated with the repurchases.
All repurchases presented in the table above were made in open market transactions. As of July 31, 2025, $1.5 billion remained available for future stock repurchases under the stock repurchase program (exclusive of any transaction costs associated with repurchases). The first 0.5 million shares repurchased under the Company’s authorized stock repurchased program were recorded in treasury stock as a reduction to the stockholders’ equity on the condensed consolidated balance sheets. All shares of common stock subsequently repurchased were retired. Upon retirement, the par value of the common stock repurchased was deducted from common stock and any excess of repurchase price (including associated transaction costs) over par value was recorded entirely to retained earnings (accumulated deficit) on the condensed consolidated balance sheets.
Equity Incentive Plans—The Company’s 2020 Equity Incentive Plan (2020 Plan), which became effective in connection with its Initial Public Offering (IPO), provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards (RSUs), performance awards and other forms of equity compensation (collectively, equity awards). All shares that remain available for future grants are under the 2020 Plan.

The Company’s 2012 Equity Incentive Plan (2012 Plan) provided for the grant of equity awards to employees, non-employee directors, and other service providers of the Company. The 2012 Plan was terminated in September 2020 in connection with the IPO but continues to govern the terms of outstanding awards that were granted prior to the termination of the 2012 Plan. Upon the expiration, forfeiture, cancellation, or reacquisition of any shares of common stock underlying outstanding equity awards granted under the 2012 Plan, an equal number of shares of common stock will become available for grant under the 2020 Plan. No further equity awards will be granted under the 2012 Plan.

The Company’s 2020 Employee Stock Purchase Plan (2020 ESPP) authorizes the issuance of shares of common stock pursuant to purchase rights granted to employees. Offering periods are generally six months long and begin on the first trading day on or after March 15 and September 15 of each year, except for the first two offering periods. The initial offering period began on September 15, 2020 and ended on February 26, 2021. The second offering period began on March 1, 2021 and ended on September 14, 2021.

On February 1, 2025, the shares available for grant under the 2020 Plan and the 2020 ESPP were automatically increased by 16.7 million shares and 3.3 million shares, respectively, pursuant to the annual evergreen increase provisions under the 2020 Plan and the 2020 ESPP.

Stock Options—Stock options granted under the 2012 Plan and the 2020 Plan (collectively, the Plans) generally vest based on continued service over four years and expire ten years from the date of grant. Certain stock options granted under the 2012 Plan are exercisable at any time following the date of grant and expire ten years from the date of grant.

A summary of stock option activity during the six months ended July 31, 2025 is as follows:

Number of Options Outstanding
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic Value
(in thousands)
Balance—January 31, 2025
21,653 $20.83 4.2$3,493,648 
Exercised(847)$7.34 
Canceled0 $12.85 
Balance—April 30, 2025
20,806 $21.37 4.0$2,903,841 
Exercised(3,565)$8.54 
Balance—July 31, 2025
17,241 $24.03 3.8$3,439,121 
Vested and expected to vest as of July 31, 2025
17,241 $24.03 3.8$3,439,121 
Exercisable as of July 31, 2025
16,407 $16.71 3.7$3,392,863 

No options were granted during the six months ended July 31, 2025. The weighted-average grant-date fair value of options granted during the six months ended July 31, 2024, was $79.16 per share. The intrinsic value of options exercised in the six months ended July 31, 2025 and 2024 was $869.3 million and $467.8 million, respectively. The aggregate grant-date fair value of options that vested during the six months ended July 31, 2025 and 2024 was $15.4 million and $15.8 million, respectively.

Equity-Classified RSUs—RSUs granted under the 2012 Plan are equity-classified and had both service-based and performance-based vesting conditions, of which the performance-based vesting condition was satisfied upon the effectiveness of the IPO in September 2020. The service-based vesting condition for these awards is typically satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. Stock-based compensation associated with RSUs granted under the 2012 Plan was recognized using an accelerated attribution method from the time it was deemed probable that the vesting condition was met through the time the service-based vesting condition had been achieved.
Equity-classified RSUs granted under the 2020 Plan include those that only contain a service-based vesting condition that is typically satisfied over four years, and the related stock-based compensation for these RSUs is recognized on a straight-line basis over the requisite service period. In addition, under the 2020 Plan, the Company granted 0.4 million and 0.8 million equity-classified RSUs (Leadership PRSUs) to its executive officers and certain other members of its senior leadership team during the six months ended July 31, 2025 and 2024, respectively. These Leadership PRSUs were granted at 120% of the target number of these awards, representing the maximum number of Leadership PRSUs that may be eligible to vest over their full term, and have both service-based and performance-based vesting conditions. The service-based vesting condition for these Leadership PRSUs is typically satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. The performance-based vesting condition is satisfied upon the achievement of certain Company annual performance targets set by the compensation committee of the board of directors of the Company. The ultimate number of the Leadership PRSUs eligible to vest ranges between 0% to 120% of the target number of the Leadership PRSUs based on the weighted-average achievement of such Company annual performance metrics for the respective fiscal year. Stock-based compensation associated with these Leadership PRSUs is recognized using an accelerated attribution method over the requisite service period, based on the Company’s periodic assessment of the probability that the performance condition will be achieved. Stock-based compensation recognized for these Leadership PRSUs was $15.3 million and $29.1 million for the three and six months ended July 31, 2025, respectively, and $8.7 million and $21.2 million for the three and six months ended July 31, 2024, respectively.

A summary of equity-classified RSUs activity during the six months ended July 31, 2025 is as follows:

Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2025
23,354 $151.30 
Granted
5,459 $147.06 
Vested(2,425)$158.50 
Forfeited(1,013)$156.70 
Performance adjustment(1)
(176)$163.04 
Unvested Balance—April 30, 2025
25,199 $149.39 
Granted
1,844 $201.47 
Vested(2,347)$155.74 
Forfeited(846)$154.37 
Unvested Balance—July 31, 2025
23,850 $152.62 
________________
(1)Represents an adjustment in the number of shares outstanding, with regards to Leadership PRSUs granted during the six months ended July 31, 2024, based on the actual achievement of the associated Company annual performance targets for fiscal 2025.

Liability-Classified RSUs—During the fourth quarter of fiscal 2024, in connection with a business combination, the Company agreed to grant, under the 2020 Plan, RSUs that contain both post-combination service-based and performance-based vesting conditions (Acquisition PRSUs) to eligible existing or future employees, subject to a maximum total number of approximately 1.7 million shares. The post-combination service-based vesting condition for these Acquisition PRSUs is satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. The performance-based vesting condition is contingent on the achievement of certain performance metric over the 12-month period ending January 31, 2027. Acquisition PRSUs will vest when both service-based and performance-based conditions are satisfied. The ultimate number of Acquisition PRSUs eligible to vest is determined based on the actual achievement of the performance metric, which takes into account certain factors including the Company’s stock price and market capitalization.
Once granted, Acquisition PRSUs are initially liability-classified and recorded in other liabilities on the Company’s condensed consolidated balance sheets, as the monetary value of the obligation under each potential outcome of the performance condition is predominantly based on a fixed monetary amount known at inception and will be settled in a variable number of shares. Subsequently, these awards are remeasured to the fair value at each reporting date until the number of Acquisition PRSUs eligible to vest is fixed, at which time these awards will be reclassified to equity. Stock-based compensation associated with these awards is recognized based on the probable outcome of the performance condition, using an accelerated attribution method over the requisite service period, with a cumulative catch-up adjustment recognized for changes in the fair value estimated at each reporting date. As of July 31, 2025, the liabilities associated with these Acquisition PRSUs were not material. As of January 31, 2025, the liabilities associated with these Acquisition PRSUs were $11.1 million.

A summary of liability-classified RSUs activity during the six months ended July 31, 2025 is as follows:

Number of Shares
(in thousands)
Unvested Balance—January 31, 2025
1,436 
Forfeited(2)
Unvested Balance—April 30, 2025
1,434 
Forfeited(17)
Unvested Balance—July 31, 2025
1,417 

Restricted Common Stock—From time to time, the Company has granted restricted common stock outside of the Plans. Restricted common stock is not deemed to be outstanding for accounting purposes until it vests.

A summary of restricted common stock activity during the six months ended July 31, 2025 is as follows:

Outside of the Plans
Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2025
821 $180.82 
Vested(116)$222.05 
Unvested Balance—April 30, 2025
705 $174.01 
Vested(24)$194.28 
Unvested Balance—July 31, 2025
681 $173.31 

Stock-Based Compensation—The following table summarizes the assumptions used in estimating the fair values of a stock option granted to employees during the three and six months ended July 31, 2024:

Three Months Ended July 31, 2024Six Months Ended July 31, 2024
Expected term (in years)6.0
4.8 - 6.0
Expected volatility56.6 %
56.6% - 56.7%
Risk-free interest rate4.4 %
4.2% - 4.4%
Expected dividend yield—%
0%

In addition, for the stock option granted during the three months ended April 30, 2024, the shares to be issued upon exercise are subject to a one-year holding period. As such, the Company applied a 7.6% discount for lack of marketability to the fair value estimated using the Black-Scholes option-pricing model, based on the assumptions included in the table above.

No stock options were granted during each of the three and six months ended July 31, 2025.
The following table summarizes the assumptions used in estimating the fair values of employee stock purchase rights granted under the 2020 ESPP (ESPP Rights) during each of the six months ended July 31, 2025 and 2024:

Six Months Ended July 31,
20252024
Expected term (in years)0.50.5
Expected volatility54.1%49.6%
Risk-free interest rate4.3%5.4%
Expected dividend yield—%—%

No employee stock purchase rights were granted during each of the three months ended July 31, 2025 and 2024.

Expected term—For stock options considered to be “plain vanilla” options, the Company estimates the expected term based on the simplified method, which is essentially the weighted average of the vesting period and contractual term, as the Company’s historical option exercise experience does not provide a reasonable basis upon which to estimate the expected term. The expected term for ESPP Rights approximates the offering period.

Expected volatility—The Company uses the average of (i) the historical volatility of its common stock, and (ii) the implied volatility from publicly traded options on its common stock to develop an expected volatility assumption.

Risk-free interest rate—Risk-free rate is estimated based upon quoted market yields for the United States Treasury debt securities for a term consistent with the expected life of the awards in effect at the time of grant.

Expected dividend yield—Because the Company has never paid and has no intention to pay cash dividends on common stock, the expected dividend yield is zero.

Fair value of underlying common stock—The fair value of the Company’s common stock is determined by the closing price, on the date of grant, of its common stock, which is traded on the New York Stock Exchange.

The following table summarizes the assumptions used in estimating the fair value of liability-classified Acquisition PRSUs as of July 31, 2025 and January 31, 2025:

July 31, 2025January 31, 2025
Expected volatility49.0%50.0%
Risk-free interest rate4.0%4.2%

Expected volatility—The Company uses the average of (i) the historical volatility of its common stock, and (ii) the implied volatility from publicly traded options on its common stock to develop an expected volatility assumption.

Risk-free interest rate—Risk-free rate is estimated based upon quoted market yields for the United States Treasury debt securities for a term that approximates the period from the reporting date to January 31, 2027.
Stock-based compensation included in the condensed consolidated statements of operations was as follows (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Cost of revenue$35,421 $34,815 $69,236 $67,223 
Sales and marketing95,253 80,676 182,769 154,083 
Research and development236,300 204,917 457,213 399,589 
General and administrative37,243 35,592 74,459 67,041 
Stock-based compensation, net of amounts capitalized404,217 356,000 783,677 687,936 
Capitalized stock-based compensation— 7,846 — 17,141 
Total stock-based compensation$404,217 $363,846 $783,677 $705,077 

As of July 31, 2025, total compensation cost related to unvested awards not yet recognized was $3.5 billion, which will be recognized over a weighted-average period of 2.8 years.
v3.25.2
Income Taxes
 6 Months Ended
Jul. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company computes its tax provision for interim periods by applying the estimated annual effective tax rate to year-to-date pre-tax income from recurring operations and adjusting for discrete tax items arising in that quarter.

The Company had an effective tax rate of 0.0% and (0.8%) for the three and six months ended July 31, 2025, respectively, and (1.2%) and (1.0%) for the three and six months ended July 31, 2024, respectively. The Company has incurred U.S. operating losses and has minimal profits in foreign jurisdictions.

The Company has evaluated all available evidence, both positive and negative, including historical levels of income and expectations and risks associated with estimates of future taxable income, and has determined that it is more likely than not that its net deferred tax assets will not be realized in the United States and the United Kingdom. Due to uncertainties surrounding the realization of the deferred tax assets, the Company maintains a full valuation allowance against its net deferred tax assets.

The Company is subject to income taxes in the United States and numerous foreign jurisdictions. As of July 31, 2025, tax years 2012 and forward generally remain open for examination for U.S. federal and state tax purposes, and tax years 2020 and forward generally remain open for examination for foreign tax purposes.

The Company has applied ASC 740 and determined that it has uncertain tax positions giving rise to unrecognized tax benefits for each of the three and six months ended July 31, 2025 and 2024. The Company’s policy is to recognize interest and penalties related to uncertain tax positions in income tax expense. The Company does not anticipate any significant changes to its unrecognized tax benefits over the next 12 months, and no material amount related to these unrecognized tax benefits, if recognized, would have an impact on the Company’s effective tax rate.

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (Inflation Act) into law. The Inflation Act contains certain tax measures, including a corporate alternative minimum tax of 15% on some large corporations and an excise tax of 1% on stock repurchases. For each of the three and six months ended July 31, 2025 and 2024, the Inflation Act had no material impact to the Company’s aggregate tax liability, financial position and results of operations, including its stock repurchase program.

On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was enacted in the United States. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions including the immediate expensing of the United States research and development expenditures. The Company is currently evaluating the potential tax impact of the legislation; however the OBBBA is not expected to have a material impact on the Company’s consolidated financial statements for fiscal 2026.
v3.25.2
Net Loss per Share
 6 Months Ended
Jul. 31, 2025
Earnings Per Share [Abstract]  
Net Loss per Share Net Loss per Share
As discussed above in Note 12, “Equity,” on July 3, 2025, the Company filed an amended and restated certificate of incorporation with the Secretary of State of the State of Delaware effecting (i) the elimination of the Company’s Class B common stock, and (ii) the renaming of the Company’s Class A common stock to “common stock”. No Class B common stock was outstanding during any periods presented.

Basic and diluted net loss per share attributable to Snowflake Inc. common stockholders is computed in conformity with the two-class method required for participating securities. The Company considers unvested common stock to be participating securities, as the holders of such stock have the right to receive nonforfeitable dividends on a pari passu basis in the event that a dividend is declared on common stock.

Basic net loss per share attributable to Snowflake Inc. common stockholders is computed by dividing net loss attributable to Snowflake Inc. common stockholders by the weighted-average number of shares of Snowflake Inc. common stock outstanding during the period, which excludes treasury stock. Diluted net loss per share attributable to Snowflake Inc. common stockholders is computed by giving effect to all potentially dilutive Snowflake Inc. common stock equivalents to the extent they are dilutive. For purposes of this calculation, RSUs, stock options, restricted common stock, ESPP Rights, and shares underlying the conversion option in the Notes are considered to be common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. common stockholders as their effect is anti-dilutive for all periods presented.

The following table presents the calculation of basic and diluted net loss per share attributable to Snowflake Inc. common stockholders (in thousands, except per share data):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Numerator:
Net loss$(297,930)$(317,770)$(727,882)$(635,586)
Less: net income (loss) attributable to noncontrolling interest87 (871)227 (1,699)
Net loss attributable to Snowflake Inc. common stockholders
$(298,017)$(316,899)$(728,109)$(633,887)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. common stockholders—basic and diluted
335,215 334,071 333,957 333,830 
Net loss per share attributable to Snowflake Inc. common stockholders—basic and diluted
$(0.89)$(0.95)$(2.18)$(1.90)

The following potentially dilutive securities were excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. common stockholders for the periods presented because the impact of including them would have been anti-dilutive (in thousands):

Three and Six Months Ended July 31,
20252024
RSUs25,267 22,432 
Stock options17,241 25,097 
Shares underlying the conversion option in the Notes
14,603 — 
Unvested restricted common stock
681 500 
ESPP Rights
275 271 
Total58,067 48,300 
The Company entered into the Capped Calls in connection with the Notes offering. The effect of the Capped Calls was also excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. common stockholders as the effect of the Capped Calls would have been anti-dilutive. The Capped Calls are generally expected to reduce the potential dilution to the Company’s common stock upon any conversion of the relevant series of the Notes. See Note 10, “Convertible Senior Notes,” for further details.
v3.25.2
Related Party Transactions
 6 Months Ended
Jul. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
A member of the Company’s board of directors currently serves as the Chief Executive Officer of a privately-held company (Related Party), which has been the Company’s customer since 2018. In July 2025, the Company entered into an additional customer agreement with the Related Party for a term of three years with a total contract value of $67.5 million. With respect to the Related Party, the Company recognized $5.9 million and $10.7 million of revenue for the three and six months ended July 31, 2025, respectively, and $2.8 million and $5.7 million of revenue for the three and six months ended July 31, 2024, respectively. As of July 31, 2025 and January 31, 2025, the Company did not have material accounts receivable balance due from the Related Party.

During the six months ended July 31, 2025 and 2024, as a minority investor, the Company made strategic investments of approximately $20.0 million and $5.0 million, respectively, by purchasing non-marketable equity securities issued by the Related Party.
v3.25.2
Insider Trading Arrangements
 3 Months Ended
Jul. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.2
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Jul. 31, 2025
Accounting Policies [Abstract]  
Fiscal Year
Fiscal Year

The Company’s fiscal year ends on January 31. For example, references to fiscal 2026 refer to the fiscal year ending January 31, 2026.
Basis of Presentation
Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2025, which was filed with the SEC on March 21, 2025.
In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position as of July 31, 2025 and the results of operations for the three and six months ended July 31, 2025 and 2024, and cash flows for the six months ended July 31, 2025 and 2024. The condensed balance sheet as of January 31, 2025 was derived from the audited consolidated financial statements but does not include all disclosures required by GAAP. The results of operations for the three and six months ended July 31, 2025 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period.
Principles of Consolidation
Principles of Consolidation

The condensed consolidated financial statements include the accounts of Snowflake Inc., its wholly-owned subsidiaries, and a majority-owned subsidiary in which the Company has a controlling financial interest. All intercompany transactions and balances have been eliminated in consolidation. The Company records noncontrolling interest in its condensed consolidated financial statements to recognize the minority ownership interest in its majority-owned subsidiary. Profits and losses of the majority-owned subsidiary are attributed to controlling and noncontrolling interests using the hypothetical liquidation at book value method.
Segment Information
Segment Information
The Company has a single operating and reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis, including, but not limited to, the Company’s consolidated net loss, for purposes of making operating decisions, assessing financial performance, and allocating resources.The measure of segment assets is the total assets on the Company’s condensed consolidated balance sheets.
Use of Estimates
Use of Estimates

The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Such estimates include, but are not limited to, stand-alone selling prices (SSP) for each distinct performance obligation, software development costs, the expected period of benefit for deferred commissions, the fair value of intangible assets acquired in business combinations, the useful lives and impairment of long-lived assets, the carrying value of operating lease right-of-use assets, stock-based compensation, accounting for income taxes, and the fair value of investments in marketable and non-marketable securities.
The Company bases its estimates on historical experience and also on assumptions that management considers reasonable. These estimates are assessed on a regular basis; however, actual results could differ from these estimates.
Software Development Costs
Software Development Costs

The Company capitalizes qualifying internal-use software development costs, which have historically related primarily to its cloud platform, under Accounting Standards Codification (ASC) Topic 350-40, Internal-use Software (ASC 350-40). The costs consist of personnel costs (including related benefits and stock-based compensation) that are incurred during the application development stage. Capitalization of costs begins when two criteria are met: (1) the preliminary project stage is completed, and (2) it is probable that the software will be completed and used for its intended function. Capitalization ceases when the software is substantially complete and ready for its intended use, including the completion of all significant testing. Costs related to preliminary project activities and post-implementation operating activities are expensed as incurred.

Capitalized internal-use software development costs are included in property and equipment, net on the condensed consolidated balance sheets. These costs are amortized over the estimated useful life of the software, which is three years, on a straight-line basis. Cost and accumulated amortization of fully amortized capitalized internal-use software development costs are removed from the Company’s condensed consolidated balance sheets when the related software is no longer in use. The amortization of capitalized internal-use software development costs related to the Company’s platform applications is primarily included in cost of revenue in the condensed consolidated statements of operations.
Software development costs capitalized prior to fiscal 2026 in connection with the Snowflake platform will be amortized over their remaining useful life and recognized as cost of revenue.
Research, Development, and Computer Software, Policy During the three months ended April 30, 2025, the Company began marketing the Snowflake platform to selected public sector customers who will have contractual rights to take possession of the Company’s software and who will contract with third parties to host the Company’s software. As a result, the Company’s ongoing and future software development costs related to the Snowflake platform must be accounted for under ASC 985-20, Costs of Software to be Sold, Leased or Marketed (ASC 985-20). All costs to establish technological feasibility are expensed as they are incurred. Technological feasibility is established when the working model is complete, which typically occurs at or shortly before the general release of the software products. Costs incurred subsequent to establishing technological feasibility are capitalized until the software product is available for general release to customers, at which point they are amortized on a product-by-product basis. Software development costs capitalized under ASC 985-20 are included in property and equipment, net on the condensed consolidated balance sheets, and are tested for impairment whenever events or changes in circumstances occur that could impact their recoverability.
Revenue Recognition and Remaining Performance Obligations
Remaining Performance Obligations
Remaining performance obligations (RPO) represent the amount of contracted future revenue that has not yet been recognized, including (i) deferred revenue and (ii) non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. The Company’s RPO excludes performance obligations from on-demand arrangements as there are no minimum purchase commitments associated with these arrangements, and certain time and materials contracts that are billed in arrears. Portions of RPO that are not yet invoiced and are denominated in foreign currencies are revalued into U.S. dollars each period based on the applicable period-end exchange rates.
Recently Issued Accounting Pronouncements Not Yet Adopted
Recently Issued Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires annual disclosure on disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. This guidance is effective for the Company for its fiscal year beginning February 1, 2025 on a prospective basis. Early adoption and retrospective application are permitted. The Company is currently evaluating the impact of the adoption of this guidance on its disclosures.
In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires disclosure, on an annual and interim basis, of specified information about certain costs and expenses in the notes to financial statements. This guidance is effective for the Company for its fiscal year beginning February 1, 2027 and interim periods within its fiscal year beginning February 1, 2028 on either a prospective or retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its disclosures
In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which provides a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606, including those assets acquired in a business combination. The practical expedient permits an entity to assume that current conditions as of the balance sheet date do not change for the remaining life of the current accounts receivable and current contract assets. This guidance is effective for the Company for its fiscal year and all interim periods beginning February 1, 2026 on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its condensed consolidated financial statements.
Strategic Investments The Company’s strategic investments consist primarily of non-marketable equity securities recorded at cost minus impairment, if any, and adjusted for observable transactions for the same or similar investments of the same issuer (referred to as the Measurement Alternative).
Fair Value of Financial Instruments Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.
The Company determines the fair value of its security holdings based on pricing from the Company’s service providers and market prices from industry-standard independent data providers. Such market prices may be quoted prices in active markets for identical assets (Level 1 inputs) or pricing determined using inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs), such as yield curve, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, broker and dealer quotes, as well as other relevant economic measures.
The Company’s derivative financial instruments, consisting of foreign currency forward contracts, are carried at fair value on the condensed consolidated balance sheets.The Company’s non-marketable equity securities accounted for using the Measurement Alternative are recorded at fair value on a non-recurring basis. When indicators of impairment exist or observable price changes of qualified transactions occur, the respective non-marketable equity security would be classified within Level 3 of the fair value hierarchy because significant unobservable inputs or data in an inactive market are used in estimating their fair value. The estimation of fair value for these assets requires the use of an observable transaction price or other unobservable inputs, including the volatility, rights, and obligations of the securities the Company holds.
The fair value was determined based on the quoted prices of the Notes in an inactive market on the last traded day of the fiscal quarter and has been classified as Level 2 in the fair value hierarchy.
Intangible Assets Cost and accumulated amortization of fully amortized intangible assets are removed from the Company's consolidated balance sheets when they are no longer in use.
Capped Call Transactions
The Capped Calls are separate transactions, and not part of the terms of any series of Notes. As the Capped Calls qualify for a scope exception from derivative accounting for instruments that are both indexed to the issuer’s own stock and classified in stockholders’ equity, the premiums paid for the purchases of the Capped Calls was recorded as a reduction to the additional paid-in capital and will not be remeasured as long as they continue to meet the conditions for equity classification.
Impairment or Disposal of Long-Lived Assets These impairment charges represent the amounts by which the carrying values of the asset groups exceeded their estimated fair values, and were recorded as general and administrative expenses on the condensed consolidated statement of operations. The fair values of the impaired asset groups were estimated using discounted cash flow models (income approach) based on market participant assumptions, including the expected downtime prior to the commencement of future subleases, projected sublease income over the remaining lease periods, and discount rates to reflect the level of risk associated with receiving future cash flows. These assumptions are classified within Level 3 inputs of the fair value hierarchy. The fair values of the impaired asset groups are not material.
Treasury Stock, Policy All shares of common stock subsequently repurchased were retired. Upon retirement, the par value of the common stock repurchased was deducted from common stock and any excess of repurchase price (including associated transaction costs) over par value was recorded entirely to retained earnings (accumulated deficit) on the condensed consolidated balance sheets.
Net Loss Per Share
Basic and diluted net loss per share attributable to Snowflake Inc. common stockholders is computed in conformity with the two-class method required for participating securities. The Company considers unvested common stock to be participating securities, as the holders of such stock have the right to receive nonforfeitable dividends on a pari passu basis in the event that a dividend is declared on common stock.

Basic net loss per share attributable to Snowflake Inc. common stockholders is computed by dividing net loss attributable to Snowflake Inc. common stockholders by the weighted-average number of shares of Snowflake Inc. common stock outstanding during the period, which excludes treasury stock. Diluted net loss per share attributable to Snowflake Inc. common stockholders is computed by giving effect to all potentially dilutive Snowflake Inc. common stock equivalents to the extent they are dilutive. For purposes of this calculation, RSUs, stock options, restricted common stock, ESPP Rights, and shares underlying the conversion option in the Notes are considered to be common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. common stockholders as their effect is anti-dilutive for all periods presented.
The Company entered into the Capped Calls in connection with the Notes offering. The effect of the Capped Calls was also excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. common stockholders as the effect of the Capped Calls would have been anti-dilutive. The Capped Calls are generally expected to reduce the potential dilution to the Company’s common stock upon any conversion of the relevant series of the Notes. See Note 10, “Convertible Senior Notes,” for further details.
v3.25.2
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jul. 31, 2025
Accounting Policies [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table presents selected financial information with respect to the Company’s single operating segment (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Revenue
$1,144,969 $868,823 $2,187,043 $1,697,532 
Cost of revenue and operating expenses:
Cost of product revenue(1)(2)
302,316 235,582 587,592 455,239 
Cost of professional services and other revenue(2)
69,499 52,496 133,009 105,356 
Sales and marketing(2)
501,957 400,625 960,511 801,447 
Research and development(2)
492,003 437,660 964,407 848,454 
General and administrative(2)
119,470 97,763 329,057 190,911 
Interest income(49,467)(49,265)(102,630)(104,044)
Interest expense2,074 — 4,145 — 
Other expense, net
4,985 7,946 33,043 29,248 
Provision for income taxes
62 3,786 5,791 6,507 
Net loss$(297,930)$(317,770)$(727,882)$(635,586)
________________
(1)Third-party cloud infrastructure expenses incurred in connection with customers’ use of the Snowflake platform and the deployment and maintenance of the platform on public clouds, including different regional deployments, represented approximately 70% and 65% of cost of product revenue for the three months ended July 31, 2025 and 2024, respectively, and 69% and 65% of cost of product revenue for the six months ended July 31, 2025 and 2024, respectively.
(2)Personnel-related expenses, excluding stock-based compensation and associated payroll taxes, represented approximately 38% of the Company’s total cost of revenue and operating expenses for each of the three months ended July 31, 2025 and 2024, and 36% and 38% of the Company’s total cost of revenue and operating expenses for the six months ended July 31, 2025 and 2024, respectively. These expenses consist primarily of salaries, benefits, bonuses, sales commissions and draws paid to the Company’s sales force and certain referral fees paid to third parties, including amortization of deferred commissions, and associated payroll taxes. They also include salaries, benefits and bonuses allocated as part of overhead costs. See Note 12 , “Equity,” for details regarding the Company’s stock-based compensation.
Summary of Long-lived Assets by Geographic Areas
The following table presents the Company’s long-lived assets, comprising property and equipment, net and operating lease right-of-use assets, by geographic area (in thousands):
July 31, 2025January 31, 2025
United States$439,953 $536,885 
Other(1)
105,517 118,947 
Total$545,470 $655,832 
________________
(1)No individual country outside of the United States accounted for more than 10% of the Company’s long-lived assets as of July 31, 2025 and January 31, 2025.
v3.25.2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations (Tables)
 6 Months Ended
Jul. 31, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Revenue consists of the following (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Product revenue$1,090,496 $829,250 $2,087,309 $1,618,837 
Professional services and other revenue54,473 39,573 99,734 78,695 
Total$1,144,969 $868,823 $2,187,043 $1,697,532 
Revenue from External Customers by Geographic Areas
Revenue by geographic area, based on the location of the Company’s customers (or end-customers under reseller arrangements), was as follows (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Americas:
United States$861,469 $663,630 $1,645,976 $1,295,671 
Other Americas(1)
30,570 22,777 60,231 46,512 
EMEA(1)(2)
185,315 137,872 354,124 269,529 
Asia-Pacific and Japan(1)
67,615 44,544 126,712 85,820 
Total$1,144,969 $868,823 $2,187,043 $1,697,532 
________________
(1)No individual country in these areas represented more than 10% of the Company’s revenue for all periods presented.
(2)Includes Europe, the Middle East and Africa.
v3.25.2
Cash Equivalents, Investments and Strategic Investments (Tables)
 6 Months Ended
Jul. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash and Cash Equivalents
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

July 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,320,540 $— $— $1,320,540 
Time deposits115,074 — — 115,074 
U.S. government securities52,853 — (3)52,850 
Corporate notes and bonds10,836 — (2)10,834 
Total cash equivalents1,499,303 — (5)1,499,298 
Investments:
Corporate notes and bonds1,893,404 1,850 (1,189)1,894,065 
U.S. government and agency securities572,230 214 (656)571,788 
Commercial paper135,245 7 (161)135,091 
Certificates of deposit117,920 42 (14)117,948 
Total investments2,718,799 2,113 (2,020)2,718,892 
Total cash equivalents and investments$4,218,102 $2,113 $(2,025)$4,218,190 
January 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,741,089 $— $— $1,741,089 
U.S. government securities388,578 92 — 388,670 
Time deposits113,851 — — 113,851 
Corporate notes and bonds4,466 — — 4,466 
Commercial paper3,064 — — 3,064 
Total cash equivalents2,251,048 92 — 2,251,140 
Investments:
Corporate notes and bonds1,559,893 2,177 (1,520)1,560,550 
U.S. government and agency securities609,937 528 (727)609,738 
Commercial paper307,752 142 (38)307,856 
Certificates of deposit187,112 97 (4)187,205 
Total investments2,664,694 2,944 (2,289)2,665,349 
Total cash equivalents and investments$4,915,742 $3,036 $(2,289)$4,916,489 
Schedule of Debt Securities, Available-for-Sale
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

July 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,320,540 $— $— $1,320,540 
Time deposits115,074 — — 115,074 
U.S. government securities52,853 — (3)52,850 
Corporate notes and bonds10,836 — (2)10,834 
Total cash equivalents1,499,303 — (5)1,499,298 
Investments:
Corporate notes and bonds1,893,404 1,850 (1,189)1,894,065 
U.S. government and agency securities572,230 214 (656)571,788 
Commercial paper135,245 7 (161)135,091 
Certificates of deposit117,920 42 (14)117,948 
Total investments2,718,799 2,113 (2,020)2,718,892 
Total cash equivalents and investments$4,218,102 $2,113 $(2,025)$4,218,190 
January 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,741,089 $— $— $1,741,089 
U.S. government securities388,578 92 — 388,670 
Time deposits113,851 — — 113,851 
Corporate notes and bonds4,466 — — 4,466 
Commercial paper3,064 — — 3,064 
Total cash equivalents2,251,048 92 — 2,251,140 
Investments:
Corporate notes and bonds1,559,893 2,177 (1,520)1,560,550 
U.S. government and agency securities609,937 528 (727)609,738 
Commercial paper307,752 142 (38)307,856 
Certificates of deposit187,112 97 (4)187,205 
Total investments2,664,694 2,944 (2,289)2,665,349 
Total cash equivalents and investments$4,915,742 $3,036 $(2,289)$4,916,489 
Schedule of Available For Sale Securities Remaining Contractual Maturity The estimated fair values of available-for-sale marketable debt securities, classified as short-term or long-term investments on the Company’s condensed consolidated balance sheets, by remaining contractual maturity, are as follows (in thousands):
July 31, 2025
Estimated
Fair Value
Due within 1 year$1,705,988 
Due in 1 year to 3 years
1,012,904 
Total$2,718,892 
Schedule of Fair Value Measurements
The following table presents the Company’s strategic investments by type (in thousands):

July 31, 2025January 31, 2025
Equity securities:
Non-marketable equity securities under Measurement Alternative$325,936 $281,158 
Non-marketable equity securities under equity method5,707 5,491 
Marketable equity securities8,385 13,833 
Debt securities:
Non-marketable debt securities11,000 750 
Total strategic investments—included in other assets$351,028 $301,232 
Realized And Unrealized Gain (Loss) On Investments
The following table summarizes the gains and losses associated with the Company’s strategic investments in equity securities (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Unrealized losses on non-marketable equity securities under Measurement Alternative:
Impairments$(5,000)$(7,158)$(31,521)$(25,911)
Net unrealized gains (losses) on marketable equity securities
(980)650 (5,448)(3,005)
Net unrealized losses on strategic investments in equity securities
(5,980)(6,508)(36,969)(28,916)
Net realized gains on strategic investments in equity securities sold(1)
400 — 1,704 1,713 
Total—included in other expense, net
$(5,580)$(6,508)$(35,265)$(27,203)
________________
(1)Represents the difference between the sale proceeds and the carrying value of the securities at the beginning of the period or the purchase date, if later.
v3.25.2
Fair Value Measurements (Tables)
 6 Months Ended
Jul. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of July 31, 2025 (in thousands):

Level 1
Level 2
Level 3
Total
Assets:
Cash equivalents:
Money market funds$1,320,540 $— $— $1,320,540 
Time deposits— 115,074 — 115,074 
U.S. government securities— 52,850 — 52,850 
Corporate notes and bonds— 10,834 — 10,834 
Short-term investments:
Corporate notes and bonds— 1,079,287 — 1,079,287 
U.S. government and agency securities— 373,662 — 373,662 
Commercial paper— 135,091 — 135,091 
Certificates of deposit— 117,948 — 117,948 
Long-term investments:
Corporate notes and bonds— 814,778 — 814,778 
U.S. government and agency securities— 198,126 — 198,126 
Strategic investments:
Marketable equity securities
8,385 — — 8,385 
Non-marketable debt securities
— — 11,000 11,000 
Derivative assets:
Foreign currency forward contracts— 7,255 — 7,255 
Total assets$1,328,925 $2,904,905 $11,000 $4,244,830 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts$— $(1,458)$— $(1,458)
Total liabilities
$— $(1,458)$— $(1,458)
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of January 31, 2025 (in thousands):

Level 1
Level 2
Level 3
Total
Assets:
Cash equivalents:
Money market funds$1,741,089 $— $— $1,741,089 
U.S. government securities— 388,670 — 388,670 
Time deposits— 113,851 — 113,851 
Corporate notes and bonds— 4,466 — 4,466 
Commercial paper— 3,064 — 3,064 
Short-term investments:
Corporate notes and bonds— 1,059,181 — 1,059,181 
U.S. government and agency securities— 456,673 — 456,673 
Commercial paper— 307,856 — 307,856 
Certificates of deposit— 185,163 — 185,163 
Long-term investments:
— 
Corporate notes and bonds— 501,369 — 501,369 
U.S. government and agency securities— 153,065 — 153,065 
Certificates of deposit— 2,042 — 2,042 
Strategic investments:
Marketable equity securities
13,833 — — 13,833 
Non-marketable debt securities
— — 750 750 
Derivative assets:
Foreign currency forward contracts— 1,579 — 1,579 
Total assets$1,754,922 $3,176,979 $750 $4,932,651 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts$— $(1,639)$— $(1,639)
Total liabilities
$— $(1,639)$— $(1,639)
Schedule of Derivative Instruments The following table summarizes the notional amounts of the Company’s outstanding derivative financial instruments (in thousands):
July 31, 2025January 31, 2025
Foreign currency forward contracts not designated as hedging instruments
$167,790 $222,027 
Foreign currency forward contracts designated as cash flow hedges
78,144 — 
Total derivative financial instruments
$245,934 $222,027 
v3.25.2
Property and Equipment, Net (Tables)
 6 Months Ended
Jul. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

July 31, 2025January 31, 2025
Leasehold improvements$117,022 $97,324 
Computers, equipment, and software65,526 49,575 
Furniture and fixtures29,676 25,473 
Capitalized software development costs
223,364 209,684 
Construction in progress—capitalized software development costs
13,512 28,672 
Construction in progress—other16,151 39,106 
Total property and equipment, gross465,251 449,834 
Less: accumulated depreciation and amortization(1)
(182,200)(153,441)
Total property and equipment, net$283,051 $296,393 
________________
(1)Includes $117.2 million and $84.8 million of accumulated amortization related to capitalized software development costs as of July 31, 2025 and January 31, 2025, respectively.
v3.25.2
Business Combinations (Tables)
 6 Months Ended
Jul. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary allocation of purchase consideration to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition:

Estimated Fair Value
(in thousands)
Estimated Weighted-Average Useful Life
(in years)
Cash
$221 
Accounts receivable
4,323 
Developed technology intangible assets
46,000 5
Customer relationships intangible assets
12,000 1.6
Deferred revenue
(12,028)
Other net tangible liabilities
(916)
Deferred tax liabilities, net(1)
(3,405)
Total identifiable net assets
46,195 
Goodwill
118,256 
Total purchase consideration
$164,451 
________________
(1)Deferred tax liabilities, net primarily relate to the intangible asset acquired and the amount presented is net of deferred tax assets.
Business Combination, Pro Forma Information
The following unaudited pro forma financial information summarizes the combined results of operations of the Company and Crunchy Data, as if Crunchy Data had been acquired as of February 1, 2024 (in thousands):

Pro Forma
Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
(unaudited)
Revenue$1,148,433 $876,295 $2,198,714 $1,711,975 
Net loss$(304,547)$(329,074)$(744,352)$(657,840)
v3.25.2
Intangible Assets and Goodwill (Tables)
 6 Months Ended
Jul. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
Intangible assets, net consisted of the following (in thousands):

July 31, 2025
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$317,364 $(115,204)$202,160 
Developer community154,900 (101,818)53,082 
Assembled workforce55,732 (41,974)13,758 
Customer relationships
16,400 (2,068)14,332 
Patents8,874 (8,484)390 
Other
1,311 (11)1,300 
Total finite-lived intangible assets$554,581 $(269,559)$285,022 
Indefinite-lived intangible assets—trademarks426 
Total intangible assets, net$285,448 

January 31, 2025
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$277,063 $(92,033)$185,030 
Developer community154,900 (86,472)68,428 
Assembled workforce55,732 (36,929)18,803 
Patents8,874 (8,005)869 
Customer relationships
4,400 (328)4,072 
Total finite-lived intangible assets$500,969 $(223,767)$277,202 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$278,028 
Schedule of Future Amortization Expense
As of July 31, 2025, future amortization expense is expected to be as follows (in thousands):

Amount
Fiscal Year Ending January 31,
Remainder of 2026$57,429 
2027107,594 
202871,015 
202929,203 
203015,923 
Thereafter3,858 
Total$285,022 
Schedule of Goodwill
Changes in goodwill were as follows (in thousands):

Amount
Balance—January 31, 2025 and April 30, 2025
$1,056,559 
Additions and related adjustments(1)
118,419 
Balance—July 31, 2025
$1,174,978 
________________
(1)Include measurement period adjustments related to the fair values of the assets acquired and liabilities assumed in business combinations. These adjustments did not have a material impact on goodwill.
v3.25.2
Accrued Expenses and Other Current Liabilities (Tables)
 6 Months Ended
Jul. 31, 2025
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):

July 31, 2025January 31, 2025
Accrued compensation$222,333 $194,630 
Accrued third-party cloud infrastructure expenses101,812 77,944 
Employee payroll tax withheld on employee stock transactions52,886 14,025 
Employee contributions under employee stock purchase plan40,519 46,576 
Liabilities associated with sales, marketing and business development programs30,202 44,017 
Accrued purchases of property and equipment21,702 9,896 
Accrued taxes17,958 25,819 
Accrued professional services14,621 14,005 
Other120,767 88,542 
Total accrued expenses and other current liabilities$622,800 $515,454 
v3.25.2
Convertible Senior Notes (Tables)
 6 Months Ended
Jul. 31, 2025
Debt Disclosure [Abstract]  
Convertible Senior Notes
The following table presents the details of each series of Notes:

Initial Conversion Rate per $1,000 principal
Initial Conversion Price
Initial number of shares
(in thousands)
2027 Notes
6.3492$157.50 7,302 
2029 Notes
6.3492$157.50 7,302 
The following table presents the net carrying values and fair values of each series of Notes as of July 31, 2025 (in thousands):

Principal
Unamortized Debt Issuance Costs
Net Carrying Value
Fair Value
Amount
Leveling
2027 Notes
$1,150,000 $11,299 $1,138,701 $1,742,262 Level 2
2029 Notes
$1,150,000 $13,027 $1,136,973 $1,779,694 Level 2
Other Key Terms and Premiums Paid for Capped Calls
The following table sets forth other key terms (subject to certain adjustments) and premiums paid for the Capped Calls related to each series of Notes (in thousands, except per share data):

Capped Calls Entered into in Connection with the Offering of the 2027 Notes
Capped Calls Entered into in Connection with the Offering of the 2029 Notes
Initial number of shares covered
7,302 7,302 
Initial strike price
$157.50 $157.50 
Initial cap price
$225.00 $225.00 
Total premium paid
$94,300 $101,200 
v3.25.2
Equity (Tables)
 6 Months Ended
Jul. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares Reserved For Future Issuance
The Company had reserved shares of common stock for future issuance under the Company’s equity incentive plans as follows (in thousands):

July 31, 2025January 31, 2025
2012 Equity Incentive Plan:
Options outstanding15,655 20,067 
2020 Equity Incentive Plan:
Options outstanding1,586 1,586 
Restricted stock units outstanding25,267 24,790 
Shares available for future grants77,906 64,834 
2020 Employee Stock Purchase Plan:
Shares available for future grants19,230 16,446 
Total
139,644 127,723 
Class of Treasury Stock
The following table summarizes the stock repurchase activity under the Company’s stock repurchase program (in thousands, except per share data):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Number of shares repurchased— 2,957 3,214 5,939 
Weighted-average price per share(1)
$— $135.28 $152.63 $154.29 
Aggregate purchase price(1)
$— $399,955 $490,590 $916,239 
________________
(1)Excludes transaction costs and excise tax, if any, associated with the repurchases.
Option Activity Rollforward
A summary of stock option activity during the six months ended July 31, 2025 is as follows:

Number of Options Outstanding
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic Value
(in thousands)
Balance—January 31, 2025
21,653 $20.83 4.2$3,493,648 
Exercised(847)$7.34 
Canceled0 $12.85 
Balance—April 30, 2025
20,806 $21.37 4.0$2,903,841 
Exercised(3,565)$8.54 
Balance—July 31, 2025
17,241 $24.03 3.8$3,439,121 
Vested and expected to vest as of July 31, 2025
17,241 $24.03 3.8$3,439,121 
Exercisable as of July 31, 2025
16,407 $16.71 3.7$3,392,863 
Schedule of Unvested RSU Rollforward
A summary of equity-classified RSUs activity during the six months ended July 31, 2025 is as follows:

Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2025
23,354 $151.30 
Granted
5,459 $147.06 
Vested(2,425)$158.50 
Forfeited(1,013)$156.70 
Performance adjustment(1)
(176)$163.04 
Unvested Balance—April 30, 2025
25,199 $149.39 
Granted
1,844 $201.47 
Vested(2,347)$155.74 
Forfeited(846)$154.37 
Unvested Balance—July 31, 2025
23,850 $152.62 
________________
(1)Represents an adjustment in the number of shares outstanding, with regards to Leadership PRSUs granted during the six months ended July 31, 2024, based on the actual achievement of the associated Company annual performance targets for fiscal 2025.
A summary of liability-classified RSUs activity during the six months ended July 31, 2025 is as follows:

Number of Shares
(in thousands)
Unvested Balance—January 31, 2025
1,436 
Forfeited(2)
Unvested Balance—April 30, 2025
1,434 
Forfeited(17)
Unvested Balance—July 31, 2025
1,417 
Schedule of Unvested RSA Rollforward
A summary of restricted common stock activity during the six months ended July 31, 2025 is as follows:

Outside of the Plans
Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2025
821 $180.82 
Vested(116)$222.05 
Unvested Balance—April 30, 2025
705 $174.01 
Vested(24)$194.28 
Unvested Balance—July 31, 2025
681 $173.31 
Valuation Assumptions Schedule The following table summarizes the assumptions used in estimating the fair values of a stock option granted to employees during the three and six months ended July 31, 2024:
Three Months Ended July 31, 2024Six Months Ended July 31, 2024
Expected term (in years)6.0
4.8 - 6.0
Expected volatility56.6 %
56.6% - 56.7%
Risk-free interest rate4.4 %
4.2% - 4.4%
Expected dividend yield—%
0%
Valuation Assumptions Other Than Stock Options Schedule
The following table summarizes the assumptions used in estimating the fair values of employee stock purchase rights granted under the 2020 ESPP (ESPP Rights) during each of the six months ended July 31, 2025 and 2024:

Six Months Ended July 31,
20252024
Expected term (in years)0.50.5
Expected volatility54.1%49.6%
Risk-free interest rate4.3%5.4%
Expected dividend yield—%—%
Schedule of Valuation Assumptions, Liability-Classified Performance Shares
The following table summarizes the assumptions used in estimating the fair value of liability-classified Acquisition PRSUs as of July 31, 2025 and January 31, 2025:

July 31, 2025January 31, 2025
Expected volatility49.0%50.0%
Risk-free interest rate4.0%4.2%
Share-based Compensation Schedule
Stock-based compensation included in the condensed consolidated statements of operations was as follows (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Cost of revenue$35,421 $34,815 $69,236 $67,223 
Sales and marketing95,253 80,676 182,769 154,083 
Research and development236,300 204,917 457,213 399,589 
General and administrative37,243 35,592 74,459 67,041 
Stock-based compensation, net of amounts capitalized404,217 356,000 783,677 687,936 
Capitalized stock-based compensation— 7,846 — 17,141 
Total stock-based compensation$404,217 $363,846 $783,677 $705,077 
v3.25.2
Net Loss per Share (Tables)
 6 Months Ended
Jul. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Loss per Share
The following table presents the calculation of basic and diluted net loss per share attributable to Snowflake Inc. common stockholders (in thousands, except per share data):

Three Months Ended July 31,Six Months Ended July 31,
2025202420252024
Numerator:
Net loss$(297,930)$(317,770)$(727,882)$(635,586)
Less: net income (loss) attributable to noncontrolling interest87 (871)227 (1,699)
Net loss attributable to Snowflake Inc. common stockholders
$(298,017)$(316,899)$(728,109)$(633,887)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. common stockholders—basic and diluted
335,215 334,071 333,957 333,830 
Net loss per share attributable to Snowflake Inc. common stockholders—basic and diluted
$(0.89)$(0.95)$(2.18)$(1.90)
Schedule of Potentially Dilutive Securities Excluded from Computation of Net Loss per Share
The following potentially dilutive securities were excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. common stockholders for the periods presented because the impact of including them would have been anti-dilutive (in thousands):

Three and Six Months Ended July 31,
20252024
RSUs25,267 22,432 
Stock options17,241 25,097 
Shares underlying the conversion option in the Notes
14,603 — 
Unvested restricted common stock
681 500 
ESPP Rights
275 271 
Total58,067 48,300 
v3.25.2
Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Segment Reporting Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Segment Reporting Information [Line Items]        
Revenue $ 1,144,969 $ 868,823 $ 2,187,043 $ 1,697,532
Cost of revenue 371,815 288,078 720,601 560,595
Sales and marketing 501,957 400,625 960,511 801,447
Research and development 492,003 437,660 964,407 848,454
General and administrative 119,470 97,763 329,057 190,911
Interest income 49,467 49,265 102,630 104,044
Interest expense (2,074) 0 (4,145) 0
Other expense, net (4,985) (7,946) (33,043) (29,248)
Provision for income taxes 62 3,786 5,791 6,507
Net income (loss) (297,930) (317,770) (727,882) (635,586)
Product revenue        
Segment Reporting Information [Line Items]        
Revenue 1,090,496 829,250 2,087,309 1,618,837
Professional services and other revenue        
Segment Reporting Information [Line Items]        
Revenue $ 54,473 $ 39,573 $ 99,734 $ 78,695
Third-Party Cloud Infrastructure Expenses | Cost Of Product Revenue Benchmark | Cost Of Product Revenue Type Risk        
Segment Reporting Information [Line Items]        
Concentration risk, percentage 70.00% 65.00% 69.00% 65.00%
Personnel-Related Expenses | Cost Of Revenue And Operating Expenses Benchmark | Cost Of Revenue And Operating Expenses Type Risk        
Segment Reporting Information [Line Items]        
Concentration risk, percentage 38.00% 38.00% 36.00% 38.00%
Reportable Segment        
Segment Reporting Information [Line Items]        
Revenue $ 1,144,969 $ 868,823 $ 2,187,043 $ 1,697,532
Sales and marketing 501,957 400,625 960,511 801,447
Research and development 492,003 437,660 964,407 848,454
General and administrative 119,470 97,763 329,057 190,911
Interest income (49,467) (49,265) (102,630) (104,044)
Interest expense 2,074 0 4,145 0
Other expense, net 4,985 7,946 33,043 29,248
Provision for income taxes 62 3,786 5,791 6,507
Net income (loss) (297,930) (317,770) (727,882) (635,586)
Reportable Segment | Product revenue        
Segment Reporting Information [Line Items]        
Cost of revenue 302,316 235,582 587,592 455,239
Reportable Segment | Professional services and other revenue        
Segment Reporting Information [Line Items]        
Cost of revenue $ 69,499 $ 52,496 $ 133,009 $ 105,356
v3.25.2
Basis of Presentation and Summary of Significant Accounting Policies - Summary of Long-lived Assets by Geographic Areas (Details) - USD ($)
$ in Thousands
Jul. 31, 2025
Jan. 31, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 545,470 $ 655,832
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total 439,953 536,885
Other    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 105,517 $ 118,947
v3.25.2
Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details)
Jul. 31, 2025
Software and Software Development Costs  
Property, Plant and Equipment  
Useful life (in years) 3 years
v3.25.2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Disaggregation of Revenue [Line Items]        
Revenue $ 1,144,969 $ 868,823 $ 2,187,043 $ 1,697,532
Product revenue        
Disaggregation of Revenue [Line Items]        
Revenue 1,090,496 829,250 2,087,309 1,618,837
Professional services and other revenue        
Disaggregation of Revenue [Line Items]        
Revenue $ 54,473 $ 39,573 $ 99,734 $ 78,695
v3.25.2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Revenue from External Customers by Geographic Areas (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Disaggregation of Revenue [Line Items]        
Revenue $ 1,144,969 $ 868,823 $ 2,187,043 $ 1,697,532
United States        
Disaggregation of Revenue [Line Items]        
Revenue 861,469 663,630 1,645,976 1,295,671
Other Americas        
Disaggregation of Revenue [Line Items]        
Revenue 30,570 22,777 60,231 46,512
EMEA        
Disaggregation of Revenue [Line Items]        
Revenue 185,315 137,872 354,124 269,529
Asia-Pacific and Japan        
Disaggregation of Revenue [Line Items]        
Revenue $ 67,615 $ 44,544 $ 126,712 $ 85,820
v3.25.2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Jan. 31, 2025
Disaggregation of Revenue [Line Items]          
Allowance for doubtful accounts $ 7.8   $ 7.8   $ 4.8
Revenue recognized 827.6 $ 642.7 1,400.0 $ 1,200.0  
Remaining performance obligation $ 6,900.0   $ 6,900.0    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-08-01          
Disaggregation of Revenue [Line Items]          
Revenue, remaining performance obligation, percentage 50.00%   50.00%    
Remaining performance obligation, remaining life 12 months   12 months    
v3.25.2
Cash Equivalents, Investments and Strategic Investments - Schedule of Cash and Cash Equivalents and Investments Fair Value (Details) - USD ($)
$ in Thousands
Jul. 31, 2025
Jan. 31, 2025
Cash equivalents:    
Amortized Cost $ 1,499,303 $ 2,251,048
Gross Unrealized Gains 0 92
Gross Unrealized Losses (5) 0
Estimated Fair Value 1,499,298 2,251,140
Investments:    
Amortized Cost 2,718,799 2,664,694
Gross Unrealized Gains 2,113 2,944
Gross Unrealized Losses (2,020) (2,289)
Estimated Fair Value 2,718,892 2,665,349
Amortized Cost 4,218,102 4,915,742
Gross Unrealized Gains 2,113 3,036
Gross Unrealized Losses (2,025) (2,289)
Estimated Fair Value 4,218,190 4,916,489
Corporate notes and bonds    
Investments:    
Amortized Cost 1,893,404 1,559,893
Gross Unrealized Gains 1,850 2,177
Gross Unrealized Losses (1,189) (1,520)
Estimated Fair Value 1,894,065 1,560,550
U.S. government and agency securities    
Investments:    
Amortized Cost 572,230 609,937
Gross Unrealized Gains 214 528
Gross Unrealized Losses (656) (727)
Estimated Fair Value 571,788 609,738
Commercial paper    
Investments:    
Amortized Cost 135,245 307,752
Gross Unrealized Gains 7 142
Gross Unrealized Losses (161) (38)
Estimated Fair Value 135,091 307,856
Certificates of deposit    
Investments:    
Amortized Cost 117,920 187,112
Gross Unrealized Gains 42 97
Gross Unrealized Losses (14) (4)
Estimated Fair Value 117,948 187,205
Money market funds    
Cash equivalents:    
Amortized Cost 1,320,540 1,741,089
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 1,320,540 1,741,089
Time deposits    
Cash equivalents:    
Amortized Cost 115,074 113,851
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 115,074 113,851
U.S. government securities    
Cash equivalents:    
Amortized Cost 52,853 388,578
Gross Unrealized Gains 0 92
Gross Unrealized Losses (3) 0
Estimated Fair Value 52,850 388,670
Corporate notes and bonds    
Cash equivalents:    
Amortized Cost 10,836 4,466
Gross Unrealized Gains 0 0
Gross Unrealized Losses (2) 0
Estimated Fair Value $ 10,834 4,466
Commercial paper    
Cash equivalents:    
Amortized Cost   3,064
Gross Unrealized Gains   0
Gross Unrealized Losses   0
Estimated Fair Value   $ 3,064
v3.25.2
Cash Equivalents, Investments and Strategic Investments - Narrative (Details) - USD ($)
Jul. 31, 2025
Jan. 31, 2025
Debt Securities, Available-for-sale, Unrealized Loss Position    
Contractual maturities of available-for-sale debt securities, maximum 36 months  
Gross unrealized losses on available-for-sale marketable debt securities $ 0 $ 0
Upward adjustments 18,300,000  
Impairments 60,500,000  
Prepaid Expenses and Other Current Assets    
Debt Securities, Available-for-sale, Unrealized Loss Position    
Interest receivable, current $ 24,200,000 $ 23,600,000
v3.25.2
Cash Equivalents, Investments and Strategic Investments - Schedule of Available for Sale Securities Remaining Contractual Maturity (Details)
$ in Thousands
Jul. 31, 2025
USD ($)
Investments, Debt and Equity Securities [Abstract]  
Due within 1 year $ 1,705,988
Due in 1 year to 3 years 1,012,904
Total $ 2,718,892
v3.25.2
Cash Equivalents, Investments and Strategic Investments - Schedule of Fair Value Measurements (Details) - USD ($)
$ in Thousands
Jul. 31, 2025
Jan. 31, 2025
Investments, Debt and Equity Securities [Abstract]    
Non-marketable equity securities under Measurement Alternative $ 325,936 $ 281,158
Non-marketable equity securities under equity method 5,707 5,491
Total strategic investments—included in other assets $ 351,028 $ 301,232
v3.25.2
Cash Equivalents, Investments and Strategic Investments - Unrealized Gain (Loss) on Investments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Investments, Debt and Equity Securities [Abstract]        
Impairments $ (5,000) $ (7,158) $ (31,521) $ (25,911)
Net unrealized gains (losses) on marketable equity securities (980) 650 (5,448) (3,005)
Net unrealized losses on strategic investments in equity securities (5,980) (6,508) (36,969) (28,916)
Net unrealized losses on strategic investments in equity securities 400 0 1,704 1,713
Total—included in other expense, net $ (5,580) $ (6,508) $ (35,265) $ (27,203)
v3.25.2
Fair Value Measurements - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Jul. 31, 2025
Jan. 31, 2025
Assets:    
Cash equivalents $ 1,499,298 $ 2,251,140
Short-term investments 1,705,988 2,008,873
Long-term investments 1,012,904 656,476
Money market funds    
Assets:    
Cash equivalents 1,320,540 1,741,089
Time deposits    
Assets:    
Cash equivalents 115,074 113,851
Corporate notes and bonds    
Assets:    
Cash equivalents 10,834 4,466
U.S. government securities    
Assets:    
Cash equivalents 52,850 388,670
Commercial paper    
Assets:    
Cash equivalents   3,064
Recurring    
Assets:    
Marketable equity securities 8,385 13,833
Non-marketable debt securities 11,000 750
Derivative assets 7,255 1,579
Total assets 4,244,830 4,932,651
Liabilities:    
Derivative liabilities (1,458) (1,639)
Total liabilities (1,458) (1,639)
Recurring | Corporate notes and bonds    
Assets:    
Short-term investments 1,079,287 1,059,181
Long-term investments 814,778 501,369
Recurring | U.S. government and agency securities    
Assets:    
Short-term investments 373,662 456,673
Long-term investments 198,126 153,065
Recurring | Commercial paper    
Assets:    
Short-term investments 135,091 307,856
Recurring | Certificates of deposit    
Assets:    
Short-term investments 117,948 185,163
Long-term investments   2,042
Recurring | Money market funds    
Assets:    
Cash equivalents 1,320,540 1,741,089
Recurring | Time deposits    
Assets:    
Cash equivalents 115,074 113,851
Recurring | Corporate notes and bonds    
Assets:    
Cash equivalents 10,834 4,466
Recurring | U.S. government securities    
Assets:    
Cash equivalents 52,850 388,670
Recurring | Commercial paper    
Assets:    
Cash equivalents   3,064
Recurring | Level 1    
Assets:    
Non-marketable debt securities 0 0
Derivative assets 0 0
Total assets 1,328,925 1,754,922
Liabilities:    
Derivative liabilities 0 0
Total liabilities 0 0
Recurring | Level 1 | Corporate notes and bonds    
Assets:    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | U.S. government and agency securities    
Assets:    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | Commercial paper    
Assets:    
Short-term investments 0 0
Recurring | Level 1 | Certificates of deposit    
Assets:    
Short-term investments 0 0
Long-term investments   0
Recurring | Level 1 | Money market funds    
Assets:    
Cash equivalents 1,320,540 1,741,089
Recurring | Level 1 | Time deposits    
Assets:    
Cash equivalents 0 0
Recurring | Level 1 | Corporate notes and bonds    
Assets:    
Cash equivalents 0 0
Recurring | Level 1 | U.S. government securities    
Assets:    
Cash equivalents 0 0
Recurring | Level 1 | Commercial paper    
Assets:    
Cash equivalents   0
Recurring | Level 2    
Assets:    
Marketable equity securities 0 0
Non-marketable debt securities 0 0
Derivative assets 7,255 1,579
Total assets 2,904,905 3,176,979
Liabilities:    
Derivative liabilities (1,458) (1,639)
Total liabilities (1,458) (1,639)
Recurring | Level 2 | Corporate notes and bonds    
Assets:    
Short-term investments 1,079,287 1,059,181
Long-term investments 814,778 501,369
Recurring | Level 2 | U.S. government and agency securities    
Assets:    
Short-term investments 373,662 456,673
Long-term investments 198,126 153,065
Recurring | Level 2 | Commercial paper    
Assets:    
Short-term investments 135,091 307,856
Recurring | Level 2 | Certificates of deposit    
Assets:    
Short-term investments 117,948 185,163
Long-term investments   2,042
Recurring | Level 2 | Money market funds    
Assets:    
Cash equivalents 0 0
Recurring | Level 2 | Time deposits    
Assets:    
Cash equivalents 115,074 113,851
Recurring | Level 2 | Corporate notes and bonds    
Assets:    
Cash equivalents 10,834 4,466
Recurring | Level 2 | U.S. government securities    
Assets:    
Cash equivalents 52,850 388,670
Recurring | Level 2 | Commercial paper    
Assets:    
Cash equivalents   3,064
Recurring | Level 3    
Assets:    
Marketable equity securities 0 0
Derivative assets 0 0
Total assets 11,000 750
Liabilities:    
Derivative liabilities 0 0
Total liabilities 0 0
Recurring | Level 3 | Corporate notes and bonds    
Assets:    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 3 | U.S. government and agency securities    
Assets:    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 3 | Commercial paper    
Assets:    
Short-term investments 0 0
Recurring | Level 3 | Certificates of deposit    
Assets:    
Short-term investments 0 0
Long-term investments   0
Recurring | Level 3 | Money market funds    
Assets:    
Cash equivalents 0 0
Recurring | Level 3 | Time deposits    
Assets:    
Cash equivalents 0 0
Recurring | Level 3 | Corporate notes and bonds    
Assets:    
Cash equivalents 0 0
Recurring | Level 3 | U.S. government securities    
Assets:    
Cash equivalents $ 0 0
Recurring | Level 3 | Commercial paper    
Assets:    
Cash equivalents   $ 0
v3.25.2
Fair Value Measurements - Schedule of Notional Amounts of Derivative Instruments (Details) - USD ($)
$ in Thousands
Jul. 31, 2025
Jan. 31, 2025
Derivative, Notional Amount [Roll Forward]    
Derivative, notional amount $ 245,934 $ 222,027
Foreign Exchange Forward | Not Designated as Hedging Instrument    
Derivative, Notional Amount [Roll Forward]    
Derivative, notional amount 167,790 222,027
Foreign Exchange Forward | Cash Flow Hedging | Designated as Hedging Instrument    
Derivative, Notional Amount [Roll Forward]    
Derivative, notional amount $ 78,144 $ 0
v3.25.2
Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Jul. 31, 2025
Jan. 31, 2025
Property, Plant and Equipment    
Total property and equipment, gross $ 465,251 $ 449,834
Less: accumulated depreciation and amortization (182,200) (153,441)
Total property and equipment, net 283,051 296,393
Leasehold improvements    
Property, Plant and Equipment    
Total property and equipment, gross 117,022 97,324
Computers, equipment, and software    
Property, Plant and Equipment    
Total property and equipment, gross 65,526 49,575
Furniture and fixtures    
Property, Plant and Equipment    
Total property and equipment, gross 29,676 25,473
Capitalized software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 223,364 209,684
Less: accumulated depreciation and amortization (117,200) (84,800)
Construction in progress—capitalized software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 13,512 28,672
Construction in progress—other    
Property, Plant and Equipment    
Total property and equipment, gross $ 16,151 $ 39,106
v3.25.2
Property and Equipment, Net - Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Property, Plant and Equipment        
Depreciation $ 27,000,000.0 $ 21,200,000 $ 51,700,000 $ 38,000,000.0
Accumulated amortization, property, plant, and equipment $ 17,000,000.0 $ 13,300,000 33,800,000 24,200,000
Asset impairment charges     108,619,000 $ 0
Leasehold Improvements And Furniture And Fixtures | San Mateo Office Facility        
Property, Plant and Equipment        
Asset impairment charges     $ 20,800,000  
v3.25.2
Business Combinations - Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 06, 2025
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Apr. 30, 2025
Jan. 31, 2025
Business Combination [Line Items]              
Revenue   $ 1,144,969,000 $ 868,823,000 $ 2,187,043,000 $ 1,697,532,000    
Goodwill   1,174,978,000   1,174,978,000   $ 1,056,559,000 $ 1,056,559,000
Crunchy Data Solutions, Inc.              
Business Combination [Line Items]              
Business combination, consideration transferred $ 164,500,000            
Finite-lived intangible assets, weighted average useful life (in years) 4 years 3 months 18 days            
Business combination, acquisition related costs       0      
Revenue   $ 0   $ 0      
Goodwill $ 118,256,000            
Crunchy Data Solutions, Inc. | Developed technology              
Business Combination [Line Items]              
Finite-lived intangible assets, weighted average useful life (in years) 5 years            
Finite-lived intangible assets $ 46,000,000            
Privately-Held Company              
Business Combination [Line Items]              
Business combination, consideration transferred     10,800,000        
Business combination, acquisition related costs         0    
Goodwill     $ 8,300,000   8,300,000    
Privately-Held Company | Developed technology              
Business Combination [Line Items]              
Finite-lived intangible assets, weighted average useful life (in years)     5 years        
Finite-lived intangible assets     $ 2,500,000   $ 2,500,000    
v3.25.2
Business Combinations - Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
Jun. 06, 2025
Jul. 31, 2025
Apr. 30, 2025
Jan. 31, 2025
Business Combination [Line Items]        
Goodwill   $ 1,174,978 $ 1,056,559 $ 1,056,559
Crunchy Data Solutions, Inc.        
Business Combination [Line Items]        
Cash $ 221      
Accounts receivable $ 4,323      
Finite-lived intangible assets, weighted average useful life (in years) 4 years 3 months 18 days      
Deferred revenue $ (12,028)      
Other net tangible liabilities (916)      
Deferred tax liabilities, net (3,405)      
Total identifiable net assets 46,195      
Goodwill 118,256      
Total identifiable net assets 164,451      
Crunchy Data Solutions, Inc. | Developed technology        
Business Combination [Line Items]        
Finite-lived intangible assets $ 46,000      
Finite-lived intangible assets, weighted average useful life (in years) 5 years      
Crunchy Data Solutions, Inc. | Customer relationships        
Business Combination [Line Items]        
Finite-lived intangible assets $ 12,000      
Finite-lived intangible assets, weighted average useful life (in years) 1 year 7 months 6 days      
v3.25.2
Business Combinations - Pro Forma Information (Details) - Crunchy Data Solutions, Inc. - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Business Combination [Line Items]        
Revenue $ 1,148,433 $ 876,295 $ 2,198,714 $ 1,711,975
Net loss $ (304,547) $ (329,074) $ (744,352) $ (657,840)
v3.25.2
Intangible Assets and Goodwill - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Jul. 31, 2025
Jan. 31, 2025
Finite-Lived Intangible Assets [Line Items]    
Gross $ 554,581 $ 500,969
Accumulated Amortization (269,559) (223,767)
Net 285,022 277,202
Indefinite-lived intangible assets—trademarks 426 826
Total intangible assets, net 285,448 278,028
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross 317,364 277,063
Accumulated Amortization (115,204) (92,033)
Net 202,160 185,030
Developer community    
Finite-Lived Intangible Assets [Line Items]    
Gross 154,900 154,900
Accumulated Amortization (101,818) (86,472)
Net 53,082 68,428
Assembled workforce    
Finite-Lived Intangible Assets [Line Items]    
Gross 55,732 55,732
Accumulated Amortization (41,974) (36,929)
Net 13,758 18,803
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross 16,400 4,400
Accumulated Amortization (2,068) (328)
Net 14,332 4,072
Patents    
Finite-Lived Intangible Assets [Line Items]    
Gross 8,874 8,874
Accumulated Amortization (8,484) (8,005)
Net 390 $ 869
Other Intangible Assets    
Finite-Lived Intangible Assets [Line Items]    
Gross 1,311  
Accumulated Amortization (11)  
Net $ 1,300  
v3.25.2
Intangible Assets and Goodwill - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Apr. 30, 2025
Jan. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]            
Amortization expense $ 27,800 $ 23,900 $ 51,900 $ 47,300    
Goodwill $ 1,174,978   $ 1,174,978   $ 1,056,559 $ 1,056,559
v3.25.2
Intangible Assets and Goodwill - Schedule of Future Amortization Expense (Details) - USD ($)
$ in Thousands
Jul. 31, 2025
Jan. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2026 $ 57,429  
2027 107,594  
2028 71,015  
2029 29,203  
2030 15,923  
Thereafter 3,858  
Net $ 285,022 $ 277,202
v3.25.2
Intangible Assets and Goodwill - Schedule of Goodwill (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2025
Goodwill [Roll Forward]    
Beginning balance $ 1,056,559 $ 1,056,559
Additions and measurement period adjustments 118,419 118,419
Ending balance $ 1,174,978 $ 1,174,978
v3.25.2
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Jul. 31, 2025
Jan. 31, 2025
Payables and Accruals [Abstract]    
Accrued compensation $ 222,333 $ 194,630
Accrued third-party cloud infrastructure expenses 101,812 77,944
Employee payroll tax withheld on employee stock transactions 52,886 14,025
Employee contributions under employee stock purchase plan 40,519 46,576
Liabilities associated with sales, marketing and business development programs 30,202 44,017
Accrued purchases of property and equipment 21,702 9,896
Accrued taxes 17,958 25,819
Accrued professional services 14,621 14,005
Other 120,767 88,542
Total accrued expenses and other current liabilities $ 622,800 $ 515,454
v3.25.2
Convertible Senior Notes - Narrative (Details)
 1 Months Ended 3 Months Ended 6 Months Ended
Sep. 30, 2024
USD ($)
day
$ / shares
Jul. 31, 2025
USD ($)
$ / shares
Jul. 31, 2024
$ / shares
Jul. 31, 2025
USD ($)
$ / shares
Jul. 31, 2024
USD ($)
$ / shares
Debt Instrument [Line Items]          
Amortization of debt issuance costs       $ 4,145,000 $ 0
Weighted-average price per share (in dollars per share) | $ / shares   $ 0 $ 135.28 $ 152.63 $ 154.29
Shares Repurchased In Privately Negotiated Transactions Entered Into In Connection With Convertible Senior Notes          
Debt Instrument [Line Items]          
Aggregate purchase price $ 399,600,000        
Weighted-average price per share (in dollars per share) | $ / shares $ 112.50        
Debt Conversion Terms One          
Debt Instrument [Line Items]          
Common stock, par value (in dollars per share) | $ / shares $ 0.0001        
Convertible Senior Notes          
Debt Instrument [Line Items]          
Purchases of capped calls related to convertible senior notes $ 195,500,000        
Convertible Senior Notes | Call Option          
Debt Instrument [Line Items]          
Cap price (in dollars per share) | $ / shares $ 225.00        
Convertible Senior Notes | Convertible Debt          
Debt Instrument [Line Items]          
Face amount of debt issued $ 2,300,000,000        
Proceeds from convertible debt, net of issuance costs 2,270,000,000        
Debt issuance costs $ 31,200,000        
Redemption price, percentage of principal amount redeemed, under fundamental changes 1        
Amortization of debt issuance costs   $ 0   $ 0  
Convertible Senior Notes | Convertible Debt | Debt Conversion Terms One          
Debt Instrument [Line Items]          
Threshold number of trading days | day 20        
Threshold number of consecutive trading days | day 30        
Threshold percentage of stock trading price 130.00%        
Convertible Senior Notes | Convertible Debt | Debt Conversion Terms Two          
Debt Instrument [Line Items]          
Threshold number of trading days | day 5        
Threshold number of consecutive trading days | day 10        
Threshold percentage of stock trading price 98.00%        
Convertible Senior Notes Due 2027 | Call Option          
Debt Instrument [Line Items]          
Cap price (in dollars per share) | $ / shares $ 225.00        
Convertible Senior Notes Due 2027 | Convertible Debt          
Debt Instrument [Line Items]          
Face amount of debt issued $ 1,150,000,000        
Stated interest percentage 0.00%        
Threshold percentage of stock price trigger 1.50        
Threshold number of trading days | day 20        
Threshold number of consecutive trading days | day 30        
Redemption price, percentage 100.00%        
Effective interest rate, percentage 0.04%        
Term (in months) (more than)       12 months  
Convertible Senior Notes Due 2029 | Call Option          
Debt Instrument [Line Items]          
Cap price (in dollars per share) | $ / shares $ 225.00        
Convertible Senior Notes Due 2029 | Convertible Debt          
Debt Instrument [Line Items]          
Face amount of debt issued $ 1,150,000,000        
Stated interest percentage 0.00%        
Threshold percentage of stock price trigger 1.30        
Threshold number of trading days | day 20        
Threshold number of consecutive trading days | day 30        
Redemption price, percentage 100.00%        
Effective interest rate, percentage 0.02%        
Term (in months) (more than)       12 months  
v3.25.2
Convertible Senior Notes - Summary of Convertible Notes (Details) - Convertible Debt
shares in Thousands
 1 Months Ended
Sep. 30, 2024
$ / shares
shares
Convertible Senior Notes Due 2027  
Debt Instrument [Line Items]  
Initial Conversion Rate per $1,000 principal 0.0063492
Initial conversion price (in dollars per share) | $ / shares $ 157.50
Initial number of shares (in thousands) | shares 7,302
Convertible Senior Notes Due 2029  
Debt Instrument [Line Items]  
Initial Conversion Rate per $1,000 principal 0.0063492
Initial conversion price (in dollars per share) | $ / shares $ 157.50
Initial number of shares (in thousands) | shares 7,302
v3.25.2
Convertible Senior Notes - Carrying Amounts and Fair Values of Convertible Notes (Details) - Convertible Debt
$ in Thousands
Jul. 31, 2025
USD ($)
Convertible Senior Notes Due 2027  
Debt Instrument [Line Items]  
Principal $ 1,150,000
Unamortized Debt Issuance Costs 11,299
Net Carrying Value 1,138,701
Convertible Senior Notes Due 2027 | Level 2  
Debt Instrument [Line Items]  
Fair Value 1,742,262
Convertible Senior Notes Due 2029  
Debt Instrument [Line Items]  
Principal 1,150,000
Unamortized Debt Issuance Costs 13,027
Net Carrying Value 1,136,973
Convertible Senior Notes Due 2029 | Level 2  
Debt Instrument [Line Items]  
Fair Value $ 1,779,694
v3.25.2
Convertible Senior Notes - Other Key Terms and Premiums Paid for Capped Calls (Details)
$ / shares in Units, shares in Thousands, $ in Thousands
 1 Months Ended
Sep. 30, 2024
USD ($)
$ / shares
shares
Convertible Senior Notes Due 2027 | Convertible Debt  
Option Indexed to Issuer's Equity [Line Items]  
Initial number of shares covered (in shares) | shares 7,302
Convertible Senior Notes Due 2029 | Convertible Debt  
Option Indexed to Issuer's Equity [Line Items]  
Initial number of shares covered (in shares) | shares 7,302
Call Option | Convertible Senior Notes Due 2027  
Option Indexed to Issuer's Equity [Line Items]  
Initial strike price (in dollars per share) $ 157.50
Initial cap price (in dollars per share) $ 225.00
Total premium paid | $ $ 94,300
Call Option | Convertible Senior Notes Due 2029  
Option Indexed to Issuer's Equity [Line Items]  
Initial strike price (in dollars per share) $ 157.50
Initial cap price (in dollars per share) $ 225.00
Total premium paid | $ $ 101,200
v3.25.2
Commitments and Contingencies (Details)
 3 Months Ended 6 Months Ended 17 Months Ended
Jul. 31, 2025
USD ($)
Jul. 31, 2024
USD ($)
Jul. 31, 2025
USD ($)
Jul. 31, 2024
USD ($)
Jul. 31, 2025
USD ($)
complaint
Jul. 30, 2025
motion
Jan. 31, 2025
USD ($)
Other Commitments [Line Items]              
Asset impairment charges     $ 108,619,000 $ 0      
Lease not yet commenced $ 38,400,000   38,400,000   $ 38,400,000    
Sublease income 0 $ 0 0 0      
Cost of matching contributions 0 0 0 0      
Loss contingency accrual 0   0   0   $ 0
Letters of credit outstanding 20,800,000   20,800,000   $ 20,800,000    
Indemnification Agreement              
Other Commitments [Line Items]              
Loss contingency, loss in period $ 0 $ 0 0 $ 0      
San Mateo Office Facility              
Other Commitments [Line Items]              
Operating lease, impairment loss     87,800,000        
Leasehold Improvements And Furniture And Fixtures | San Mateo Office Facility              
Other Commitments [Line Items]              
Asset impairment charges     $ 20,800,000        
US District Court Of California V Snowflake, Inc.              
Other Commitments [Line Items]              
Loss contingency, number of new claims filed | complaint         5    
LAUSD Claims              
Other Commitments [Line Items]              
Loss contingency, number of pending claims | motion           3  
Minimum              
Other Commitments [Line Items]              
Lease not yet commenced, term of contract (in years) 5 years 3 months 18 days   5 years 3 months 18 days   5 years 3 months 18 days    
Loss contingency, range of possible loss $ 0   $ 0   $ 0    
Maximum              
Other Commitments [Line Items]              
Lease not yet commenced, term of contract (in years) 6 years 1 month 6 days   6 years 1 month 6 days   6 years 1 month 6 days    
Loss contingency, range of possible loss $ 25,000,000   $ 25,000,000   $ 25,000,000    
v3.25.2
Equity - Narrative (Details)
 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Feb. 01, 2025
shares
Aug. 31, 2024
USD ($)
Jul. 31, 2025
USD ($)
shares
Apr. 30, 2025
shares
Jul. 31, 2024
USD ($)
shares
Apr. 30, 2024
Jan. 31, 2024
Jul. 31, 2025
USD ($)
shares
Jul. 31, 2024
USD ($)
$ / shares
shares
Jan. 31, 2024
shares
Jul. 03, 2025
vote_per_share
shares
Jul. 02, 2025
shares
Jan. 31, 2025
USD ($)
shares
Feb. 28, 2023
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award                            
Common stock, voting rights, votes per share | vote_per_share                     1      
Stock repurchase program, authorized amount | $                           $ 2,000,000,000
Stock repurchase program, additional authorized amount | $   $ 2,500,000,000                        
Stock repurchase program, remaining authorized repurchase amount | $     $ 1,500,000,000         $ 1,500,000,000            
Repurchases of common stock (in shares) | shares                   500,000        
Options granted (shares) | shares     0         0            
Granted (in dollars per share) | $ / shares                 $ 79.16          
Intrinsic value of shares exercised | $               $ 869,300,000 $ 467,800,000          
Grant date fair value of vested shares | $               15,400,000 15,800,000          
Stock-based compensation, net of amounts capitalized | $     $ 404,217,000   $ 356,000,000     $ 783,677,000 $ 687,936,000          
Expected dividend yield               0.00% 0.00%          
Unrecognized share-based compensation expense | $     $ 3,500,000,000         $ 3,500,000,000            
Unrecognized share-based compensation expense recognition period (term)               2 years 9 months 18 days            
2020 Equity Incentive Plan                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Shares authorized (in shares) | shares 16,700,000                          
ESPP Rights                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Granted (in shares) | shares     0   0                  
Expected dividend yield               0.00% 0.00%          
ESPP Rights | 2020 Employee Stock Purchase Plan                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Offering period               6 months            
Shares authorized (in shares) | shares 3,300,000                          
Stock options                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Vesting period (years)               4 years            
Expiration period (years)               10 years            
Award holding period           1 year                
Discount for lack of marketability           7.60%                
Expected dividend yield         0.00%       0.00%          
Stock options | 2012 Equity Incentive Plan:                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Expiration period (years)               10 years            
Equity-Classified Restricted Stock Units (RSUs)                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Granted (in shares) | shares     1,844,000 5,459,000                    
Equity-Classified Restricted Stock Units (RSUs) | 2020 Equity Incentive Plan                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Vesting period (years)               4 years            
Equity-Classified Restricted Stock Units (RSUs) | 2012 Equity Incentive Plan:                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Vesting period (years)               4 years            
Equity-Classified Restricted Stock Units (RSUs) | 2012 Equity Incentive Plan: | Grant Date                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Vesting period (years)               1 year            
Equity-Classified Performance Shares | 2020 Equity Incentive Plan                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Vesting period (years)               4 years            
Granted (in shares) | shares               400,000 800,000          
Stock-based compensation, net of amounts capitalized | $     $ 15,300,000   $ 8,700,000     $ 29,100,000 $ 21,200,000          
Equity-Classified Performance Shares | 2020 Equity Incentive Plan | Maximum                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Performance target, percentage               120.00%            
Equity-Classified Performance Shares | 2020 Equity Incentive Plan | Minimum                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Performance target, percentage               0.00%            
Equity-Classified Performance Shares | 2020 Equity Incentive Plan | Grant Date                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Vesting period (years)               1 year            
Liability-Classified Performance Shares | 2020 Equity Incentive Plan | Fiscal Year 2024 Acquisition                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Vesting period (years)             4 years              
Shares available for grant (in shares) | shares     1,700,000         1,700,000            
Stock-based compensation, liabilities | $     $ 0         $ 0         $ 11,100,000  
Liability-Classified Performance Shares | 2020 Equity Incentive Plan | Grant Date | Fiscal Year 2024 Acquisition                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Vesting period (years)             1 year              
Class B Common Stock                            
Share-based Compensation Arrangement by Share-based Payment Award                            
Common stock, shares authorized (in shares) | shares     0         0     0 185,500,000 185,461,000  
v3.25.2
Equity - Shares Reserved For Future Issuance (Details) - shares
shares in Thousands
Jul. 31, 2025
Jan. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 139,644 127,723
2012 Equity Incentive Plan: | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 15,655 20,067
2020 Equity Incentive Plan | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 1,586 1,586
2020 Equity Incentive Plan | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 25,267 24,790
2020 Equity Incentive Plan | Shares available for future grants    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 77,906 64,834
2020 Employee Stock Purchase Plan | ESPP Rights    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 19,230 16,446
v3.25.2
Equity - Schedule of Stock Repurchase Activity (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Share-Based Payment Arrangement [Abstract]        
Number of shares repurchased (in shares) 0 2,957,000 3,214,000 5,939,000
Weighted-average price per share (in dollars per share) $ 0 $ 135.28 $ 152.63 $ 154.29
Aggregate purchase price $ 0 $ 399,955,000 $ 490,590,000 $ 916,239,000
v3.25.2
Equity - Option Activity Rollforward (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jul. 31, 2025
Apr. 30, 2025
Jul. 31, 2025
Jan. 31, 2025
Number of Options Outstanding (in thousands)        
Shares outstanding, beginning (in shares) 20,806 21,653 21,653  
Exercised (in shares) (3,565) (847)    
Canceled (in shares)   0    
Shares outstanding, ending (in shares) 17,241 20,806 17,241 21,653
Weighted- Average Exercise Price        
Shares outstanding, beginning balance (in dollars per share) $ 21.37 $ 20.83 $ 20.83  
Exercised (in dollars per share) 8.54 7.34    
Canceled (in shares)   12.85    
Shares outstanding, ending balance (in dollars per share) $ 24.03 $ 21.37 $ 24.03 $ 20.83
Weighted-average remaining contractual life 3 years 9 months 18 days 4 years   4 years 2 months 12 days
Aggregate Intrinsic Value (in thousands)        
Aggregate intrinsic value $ 3,439,121 $ 2,903,841 $ 3,439,121 $ 3,493,648
Vested and expected to vest, outstanding (in shares) 17,241   17,241  
Vested and expected to vest, weighted-average exercise price (in dollars per share) $ 24.03   $ 24.03  
Vested and expected to vest, weighted-average remaining contractual life (in years) 3 years 9 months 18 days      
Vested and expected to vest, intrinsic value $ 3,439,121   $ 3,439,121  
Exercisable (in shares) 16,407   16,407  
Exercisable, weighted-average exercise price (in dollars per share) $ 16.71   $ 16.71  
Exercisable, weighted-average remaining contractual life (in years)     3 years 8 months 12 days  
Exercisable, intrinsic value $ 3,392,863   $ 3,392,863  
v3.25.2
Equity - Unvested RSA & RSU Rollforward (Details) - $ / shares
shares in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Apr. 30, 2025
Jul. 31, 2025
Equity-Classified Restricted Stock Units (RSUs)      
Number of Shares (in thousands)      
Unvested balance, beginning (in shares) 25,199 23,354 23,354
Granted (in shares) 1,844 5,459  
Vested (in shares) (2,347) (2,425)  
Forfeited (in shares) (846) (1,013)  
Performance adjustment (in shares)   (176)  
Unvested balance, ending (in shares) 23,850 25,199 23,850
Weighted-Average Grant Date Fair Value per Share      
Unvested balance, beginning balance (in dollars per share) $ 149.39 $ 151.30 $ 151.30
Granted (in dollars per share) 201.47 147.06  
Vested (in dollars per share) 155.74 158.50  
Forfeited (in dollars per share) 154.37 156.70  
Performance adjustment (in dollars per share)   163.04  
Unvested balance, ending balance (in dollars per share) $ 152.62 $ 149.39 $ 152.62
2020 Equity Incentive Plan | Liability-Classified Performance Shares      
Number of Shares (in thousands)      
Unvested balance, beginning (in shares) 1,434 1,436 1,436
Forfeited (in shares) (17) (2)  
Unvested balance, ending (in shares) 1,417 1,434 1,417
Outside of the Plans | RCS      
Number of Shares (in thousands)      
Unvested balance, beginning (in shares) 705 821 821
Vested (in shares) (24) (116)  
Unvested balance, ending (in shares) 681 705 681
Weighted-Average Grant Date Fair Value per Share      
Unvested balance, beginning balance (in dollars per share) $ 174.01 $ 180.82 $ 180.82
Vested (in dollars per share) 194.28 222.05  
Unvested balance, ending balance (in dollars per share) $ 173.31 $ 174.01 $ 173.31
v3.25.2
Equity - Valuation Assumptions (Details)
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jan. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology          
Expected dividend yield       0.00% 0.00%
Stock options          
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology          
Expected term (in years)     6 years    
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum         56.70%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum         56.60%
Expected volatility     56.60%    
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum         4.40%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum         4.20%
Risk-free interest rate     4.40%    
Expected dividend yield     0.00%   0.00%
Stock options | Minimum          
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology          
Expected term (in years)         4 years 9 months 18 days
Stock options | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology          
Expected term (in years)         6 years
ESPP Rights          
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology          
Expected term (in years)       6 months 6 months
Expected volatility       54.10% 49.60%
Risk-free interest rate       4.30% 5.40%
Expected dividend yield       0.00% 0.00%
Liability-Classified Performance Shares | 2020 Equity Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology          
Expected volatility 49.00% 50.00%      
Risk-free interest rate 4.00% 4.20%      
v3.25.2
Equity - Share-based Compensation (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized $ 404,217 $ 356,000 $ 783,677 $ 687,936
Capitalized stock-based compensation 0 7,846 0 17,141
Total stock-based compensation 404,217 363,846 783,677 705,077
Cost of revenue        
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized 35,421 34,815 69,236 67,223
Sales and marketing        
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized 95,253 80,676 182,769 154,083
Research and development        
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized 236,300 204,917 457,213 399,589
General and administrative        
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized $ 37,243 $ 35,592 $ 74,459 $ 67,041
v3.25.2
Income Taxes - Narrative (Details)
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Income Tax Disclosure [Abstract]        
Effective tax rate 0.00% (1.20%) (0.80%) (1.00%)
v3.25.2
Net Loss per Share - Narrative (Details) - shares
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Class of Stock [Line Items]        
Shares outstanding, basic (in shares) [1] 335,215,000 334,071,000 333,957,000 333,830,000
Shares outstanding, diluted (in shares) [1] 335,215,000 334,071,000 333,957,000 333,830,000
Class B Common Stock        
Class of Stock [Line Items]        
Shares outstanding, basic (in shares) 0 0 0 0
Shares outstanding, diluted (in shares) 0 0 0 0
[1] On July 3, 2025, all authorized shares of the Company’s Class B common stock were eliminated and the Company’s Class A common stock was renamed to “common stock”, pursuant to the terms of the Company’s amended and restated certificate of incorporation. Unless otherwise noted, all references herein to the Company’s common stock refer to the Class A common stock prior to the effectiveness of the certificate. See Note 12, “Equity,” and Note 14, “Net Loss per Share,” for further details.
v3.25.2
Net Loss per Share - Schedule of Basic and Diluted Net Loss per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Numerator:        
Net income (loss) $ (297,930) $ (317,770) $ (727,882) $ (635,586)
Less: net income (loss) attributable to noncontrolling interest 87 (871) 227 (1,699)
Net loss attributable to Snowflake Inc. $ (298,017) $ (316,899) $ (728,109) $ (633,887)
Denominator:        
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. common stockholders - basic (in shares) [1] 335,215 334,071 333,957 333,830
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. common stockholders - diluted (in shares) [1] 335,215 334,071 333,957 333,830
Net loss per share attributable to Snowflake Inc. common stockholders- basic (in dollars per share) [1] $ (0.89) $ (0.95) $ (2.18) $ (1.90)
Net loss per share attributable to Snowflake Inc. common stockholders- diluted (in dollars per share) [1] $ (0.89) $ (0.95) $ (2.18) $ (1.90)
[1] On July 3, 2025, all authorized shares of the Company’s Class B common stock were eliminated and the Company’s Class A common stock was renamed to “common stock”, pursuant to the terms of the Company’s amended and restated certificate of incorporation. Unless otherwise noted, all references herein to the Company’s common stock refer to the Class A common stock prior to the effectiveness of the certificate. See Note 12, “Equity,” and Note 14, “Net Loss per Share,” for further details.
v3.25.2
Net Loss per Share - Schedule of Potentially Dilutive Securities Excluded from Computation of Net Loss per Share (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) 58,067 48,300 58,067 48,300
RSUs        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) 25,267 22,432 25,267 22,432
Stock options        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) 17,241 25,097 17,241 25,097
Shares underlying the conversion option in the Notes        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) 14,603 0 14,603 0
Unvested restricted common stock        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) 681 500 681 500
ESPP Rights        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) 275 271 275 271
v3.25.2
Related Party Transactions (Details) - Related Party - USD ($)
 3 Months Ended 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Jul. 31, 2025
Jul. 31, 2024
Jan. 31, 2025
Related Party Transaction [Line Items]          
Contract term 3 years   3 years    
Contract value $ 67,500,000   $ 67,500,000    
Revenue 5,900,000 $ 2,800,000 10,700,000 $ 5,700,000  
Receivables $ 0   0   $ 0
Strategic investment, non-marketable equity securities     $ 20,000,000.0 $ 5,000,000.0