SNOWFLAKE INC., 10-K filed on 3/29/2023
Annual Report
v3.23.1
Cover - USD ($)
shares in Millions, $ in Billions
 12 Months Ended
Jan. 31, 2023
Mar. 17, 2023
Jul. 29, 2022
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Jan. 31, 2023    
Current Fiscal Year End Date --01-31    
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 Class A Common Stock, $0.0001 par value    
Trading Symbol SNOW    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
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    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Public Float     $ 46.2
Entity Common Stock, Shares Outstanding   325.0  
Documents Incorporated by Reference Portions of the registrant's definitive Proxy Statement relating to the 2023 Annual Meeting of Stockholders are incorporated herein by references in Part III of this Annual Report on Form 10-K to the extent stated herein. Such Proxy Statement will be filed with the Securities and Exchange Commission within 120 days of the registrant's fiscal year ended January 31, 2023.    
Entity Central Index Key 0001640147    
Document Fiscal Year Focus 2023    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.23.1
Audit Information
 12 Months Ended
Jan. 31, 2023
Audit Information [Abstract]  
Auditor name PricewaterhouseCoopers LLP
Auditor location San Jose, California
Auditor firm ID 238
v3.23.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Current assets:    
Cash and cash equivalents $ 939,902 $ 1,085,729
Short-term investments 3,067,966 2,766,364
Accounts receivable, net 715,821 545,629
Deferred commissions, current 67,901 51,398
Prepaid expenses and other current assets 193,100 149,523
Total current assets 4,984,690 4,598,643
Long-term investments 1,073,023 1,256,207
Property and equipment, net 160,823 105,079
Operating lease right-of-use assets 231,266 190,356
Goodwill 657,370 8,449
Intangible assets, net 186,013 37,141
Deferred commissions, non-current 145,286 124,517
Other assets 283,851 329,306
Total assets 7,722,322 6,649,698
Current liabilities:    
Accounts payable 23,672 13,441
Accrued expenses and other current liabilities 269,069 200,664
Operating lease liabilities, current 27,301 25,101
Deferred revenue, current 1,673,475 1,157,887
Total current liabilities 1,993,517 1,397,093
Operating lease liabilities, non-current 224,357 181,196
Deferred revenue, non-current 11,463 11,180
Other liabilities 24,370 11,184
Total liabilities 2,253,707 1,600,653
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Preferred stock; $0.0001 par value per share; 200,000 shares authorized, zero shares issued and outstanding as of each January 31, 2023 and 2022 0 0
Common stock; $0.0001 par value per share; 2,500,000 Class A shares authorized, 323,305 and 312,377 shares issued and outstanding as of January 31, 2023 and 2022, respectively; 185,461 Class B shares authorized, zero shares issued and outstanding as of each January 31, 2023 and 2022 32 31
Additional paid-in capital 8,210,750 6,984,669
Accumulated other comprehensive loss (38,272) (16,286)
Accumulated deficit (2,716,074) (1,919,369)
Total Snowflake Inc. stockholders’ equity 5,456,436 5,049,045
Noncontrolling interest 12,179 0
Total stockholders’ equity 5,468,615 5,049,045
Total liabilities and stockholders’ equity $ 7,722,322 $ 6,649,698
v3.23.1
CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares
shares in Thousands
Jan. 31, 2023
Jan. 31, 2022
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 200,000 200,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
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 2,500,000
Common stock, shares issued (in shares) 323,305 312,377
Common stock, shares outstanding (in shares) 323,305 312,377
Class B Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 185,461 185,461
Common stock, shares issued (in shares) 0 0
Common stock, shares outstanding (in shares) 0 0
v3.23.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Income Statement [Abstract]      
Revenue $ 2,065,659 $ 1,219,327 $ 592,049
Cost of revenue 717,540 458,433 242,588
Gross profit 1,348,119 760,894 349,461
Operating expenses:      
Sales and marketing 1,106,507 743,965 479,317
Research and development 788,058 466,932 237,946
General and administrative 295,821 265,033 176,135
Total operating expenses 2,190,386 1,475,930 893,398
Operating loss (842,267) (715,036) (543,937)
Interest income 73,839 9,129 7,507
Other income (expense), net (47,565) 28,947 (610)
Loss before income taxes (815,993) (676,960) (537,040)
Provision for (benefit from) income taxes (18,467) 2,988 2,062
Net loss (797,526) (679,948) (539,102)
Less: net loss attributable to noncontrolling interest (821) 0 0
Net loss attributable to Snowflake Inc. $ (796,705) $ (679,948) $ (539,102)
Net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic (in dollars per share) [1] $ (2.50) $ (2.26) $ (3.81)
Net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—diluted (in dollars per share) [1] $ (2.50) $ (2.26) $ (3.81)
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic (in shares) [1] 318,730 300,273 141,613
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—diluted (in shares) [1] 318,730 300,273 141,613
[1] On March 1, 2021, all shares of the Company’s then-outstanding Class B common stock were automatically converted into the same number of shares of Class A common stock, pursuant to the terms of the Company’s amended and restated certificate of incorporation. No additional shares of Class B common stock will be issued following such conversion. See Note 12 for further details.
v3.23.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Statement of Comprehensive Income [Abstract]      
Net loss $ (797,526) $ (679,948) $ (539,102)
Other comprehensive income (loss):      
Foreign currency translation adjustments (1,367) (918) 118
Net change in unrealized gains (losses) on available-for-sale debt securities (20,619) (15,807) 105
Total other comprehensive income (loss) (21,986) (16,725) 223
Comprehensive loss attributable to Snowflake Inc. $ (819,512) $ (696,673) $ (538,879)
v3.23.1
CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($)
$ in Thousands
Total
Redeemable Convertible Preferred Stock
Redeemable Convertible Preferred Stock, Series G-1 And G-2
Total Snowflake Inc. Stockholders’ Equity (Deficit)
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Noncontrolling Interest
Beginning balance (in shares) at Jan. 31, 2020   169,921,000              
Beginning balance at Jan. 31, 2020   $ 936,474              
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Issuance of redeemable convertible preferred stock (in shares)     12,350,000            
Issuance of redeemable convertible preferred stock     $ 478,573            
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares)   (182,271,000)              
Conversion of redeemable convertible preferred stock to common stock upon initial public offering   $ (1,415,047)              
Ending balance (in shares) at Jan. 31, 2021   0              
Ending balance at Jan. 31, 2021   $ 0              
Beginning balance (in shares) at Jan. 31, 2020 [1]         55,452,000        
Beginning balance at Jan. 31, 2020 $ (544,757)     $ (544,757) $ 6 [1] $ 155,340 $ 216 $ (700,319) $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares) [1]         182,271,000        
Conversion of redeemable convertible preferred stock to common stock upon initial public offering 1,415,047     1,415,047 $ 18 [1] 1,415,029      
Issuance of common stock upon initial public offering and private placements, net of underwriting discounts (in shares) [1]         36,367,000        
Issuance of common stock upon initial public offering and private placements, net of underwriting discounts $ 4,242,284     4,242,284 $ 4 [1] 4,242,280      
Issuance of common stock upon exercise of stock options (in shares) 13,799,000       13,799,000 [1]        
Issuance of common stock upon exercise of stock options $ 53,671     53,671   53,671      
Exercise of common stock warrants (in shares) [1]         32,000        
Repurchase of early exercised stock options (in shares) [1]         (40,000)        
Vesting of early exercised stock options and restricted common stock 5,592     5,592   5,592      
Vesting of restricted stock units (in shares) [1]         37,000        
Stock-based compensation 303,513     303,513   303,513      
Other comprehensive income (loss) 223     223     223    
Net loss (539,102)     (539,102)       (539,102)  
Ending balance (in shares) at Jan. 31, 2021 [1]         287,918,000        
Ending balance at Jan. 31, 2021 $ 4,936,471     4,936,471 $ 28 [1] 6,175,425 439 (1,239,421) 0
Ending balance (in shares) at Jan. 31, 2022 0 0              
Ending balance at Jan. 31, 2022   $ 0              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares) 20,903,000       20,903,000 [1]        
Issuance of common stock upon exercise of stock options $ 127,001     127,001 $ 3 [1] 126,998      
Issuance of common stock under employee stock purchase plan (in shares) [1]         370,000        
Issuance of common stock under employee stock purchase plan 52,227     52,227   52,227      
Vesting of early exercised stock options 750     750   750      
Vesting of restricted stock units (in shares) [1]         3,186,000        
Stock-based compensation 629,269     629,269   629,269      
Other comprehensive income (loss) (16,725)     (16,725)     (16,725)    
Net loss (679,948)     (679,948)       (679,948)  
Ending balance (in shares) at Jan. 31, 2022 [1]         312,377,000        
Ending balance at Jan. 31, 2022 $ 5,049,045     5,049,045 $ 31 [1] 6,984,669 (16,286) (1,919,369) 0
Ending balance (in shares) at Jan. 31, 2023 0 0              
Ending balance at Jan. 31, 2023   $ 0              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares) 6,118,000       6,118,000 [1]        
Issuance of common stock upon exercise of stock options $ 39,743     39,743 $ 1 [1] 39,742      
Issuance of common stock under employee stock purchase plan (in shares) [1]         286,000        
Issuance of common stock under employee stock purchase plan 40,931     40,931   40,931      
Issuance of common stock in connection with a business combination (in shares) [1]         1,916,000        
Issuance of common stock in connection with a business combination 438,916     438,916   438,916      
Issuance of common stock in connection with a business combination subject to future vesting (in shares) [1]         409,000        
Vesting of early exercised stock options 244     244   244      
Vesting of restricted stock units (in shares) [1]         3,348,000        
Shares withheld related to net share settlement of equity awards (in shares) [1]         (1,149,000)        
Shares withheld related to net share settlement of equity awards (184,702)     (184,702)   (184,702)      
Stock-based compensation 890,950     890,950   890,950      
Capital contributions from noncontrolling interest holders 13,000               13,000
Other comprehensive income (loss) (21,986)     (21,986)     (21,986)    
Net loss (797,526)     (796,705)       (796,705) (821)
Ending balance (in shares) at Jan. 31, 2023 [1]         323,305,000        
Ending balance at Jan. 31, 2023 $ 5,468,615     $ 5,456,436 $ 32 [1] $ 8,210,750 $ (38,272) $ (2,716,074) $ 12,179
[1] On March 1, 2021, all shares of the Company’s then-outstanding Class B common stock were automatically converted into the same number of shares of Class A common stock, pursuant to the terms of the Company’s amended and restated certificate of incorporation. No additional shares of Class B common stock will be issued following such conversion. See Note 12 for further details.
v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) (PARENTHETICAL) - Redeemable Convertible Preferred Stock, Series G-1 And G-2
$ in Thousands
 12 Months Ended
Jan. 31, 2021
USD ($)
$ / shares
Price per share (in dollars per share) | $ / shares $ 38.77
Issuance costs | $ $ 230
v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Cash flows from operating activities:      
Net loss $ (797,526) $ (679,948) $ (539,102)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Depreciation and amortization 63,535 21,498 9,826
Non-cash operating lease costs 46,240 35,553 33,475
Amortization of deferred commissions 57,445 37,876 28,841
Stock-based compensation, net of amounts capitalized 861,533 605,095 301,441
Net amortization of premiums on investments 3,497 48,002 8,630
Net unrealized losses (gains) on strategic investments in equity securities 46,435 (27,621) 0
Deferred income tax (26,664) (717) (30)
Other 1,618 2,014 4,610
Changes in operating assets and liabilities, net of effects of business combinations:      
Accounts receivable (166,965) (251,652) (116,289)
Deferred commissions (95,107) (95,877) (51,444)
Prepaid expenses and other assets (2,904) (159,159) (62,349)
Accounts payable 8,024 7,371 (2,878)
Accrued expenses and other liabilities 74,519 79,772 58,252
Operating lease liabilities (42,342) (38,249) (31,281)
Deferred revenue 514,301 526,221 312,881
Net cash provided by (used in) operating activities 545,639 110,179 (45,417)
Cash flows from investing activities:      
Purchases of property and equipment (25,128) (16,221) (35,037)
Capitalized internal-use software development costs (24,012) (12,772) (5,293)
Cash paid for business combinations, net of cash and cash equivalents acquired (362,609) 0 (6,035)
Purchases of intangible assets (700) (24,334) (8,374)
Purchases of investments (3,901,321) (4,250,338) (4,859,852)
Sales of investments 58,813 440,069 177,070
Maturities and redemptions of investments 3,657,072 3,842,796 700,876
Net cash used in investing activities (597,885) (20,800) (4,036,645)
Cash flows from financing activities:      
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs 0 0 478,573
Proceeds from initial public offering and private placements, net of underwriting discounts 0 0 4,242,284
Proceeds from early exercised stock options 0 0 159
Proceeds from exercise of stock options 39,893 127,036 53,378
Proceeds from issuance of common stock under employee stock purchase plan 40,931 52,227 0
Proceeds from repayments of a nonrecourse promissory note 0 0 2,090
Repurchases of early exercised stock options 0 0 (30)
Taxes paid related to net share settlement of equity awards (184,648) 0 0
Capital contributions from noncontrolling interest holders 13,000 0 0
Payments of deferred purchase consideration for business combinations (1,800) (1,065) (1,164)
Net cash provided by (used in) financing activities (92,624) 178,198 4,775,290
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (933) (236) (11)
Net increase (decrease) in cash, cash equivalents, and restricted cash (145,803) 267,341 693,217
Cash, cash equivalents, and restricted cash—beginning of period 1,102,534 835,193 141,976
Cash, cash equivalents, and restricted cash—end of period 956,731 1,102,534 835,193
Supplemental disclosures of cash flow information:      
Cash paid for income taxes 6,550 1,482 1,195
Supplemental disclosures of non-cash investing and financing activities      
Property and equipment included in accounts payable and accrued expenses 6,317 5,115 6,941
Stock-based compensation included in capitalized software development costs 28,467 23,620 2,072
Vesting of early exercised stock options 244 750 3,502
Issuance of common stock in connection with a business combination 438,916 0 0
Purchases of intangible assets included in accrued expenses and other liabilities 0 4,544 0
Reconciliation of cash, cash equivalents, and restricted cash:      
Cash and cash equivalents 939,902 1,085,729 820,177
Restricted cash—included in other assets and prepaid expenses and other current assets 16,829 16,805 15,016
Total cash, cash equivalents, and restricted cash $ 956,731 $ 1,102,534 $ 835,193
v3.23.1
Organization and Description of Business
 12 Months Ended
Jan. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Description of Business Organization and Description of BusinessSnowflake 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 business insights, 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 Data Cloud, a network where Snowflake customers, partners, developers, data providers, and data consumers can break down data silos and derive value from rapidly growing data sets in secure, governed, and compliant ways. Snowflake was incorporated in the state of Delaware on July 23, 2012.
v3.23.1
Basis of Presentation and Summary of Significant Accounting Policies
 12 Months Ended
Jan. 31, 2023
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 2023 refer to the fiscal year ended January 31, 2023.

Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP).

Principles of Consolidation

The 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 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 for purposes of making operating decisions, assessing financial performance, and allocating resources. For information regarding the Company’s revenue by geographic area, see Note 3.

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):
January 31, 2023January 31, 2022
United States$329,275 $272,895 
Other(1)
62,814 22,540 
Total$392,089 $295,435 
________________
(1)No individual country outside of the United States accounted for more than 10% of the Company’s long-lived assets as of January 31, 2023 and 2022.
Use of Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Such estimates include, but are not limited to, stand-alone selling prices (SSP) for each distinct performance obligation, internal-use software development costs, the expected period of benefit for deferred commissions, the fair value of intangible assets acquired in business combinations, the useful lives 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.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash, cash equivalents, investments in marketable securities, restricted cash, accounts receivable, and deliverable foreign currency forward contracts. The Company maintains its cash, cash equivalents, investments in marketable securities, restricted cash and deliverable foreign currency forward contracts with high-quality financial institutions that have investment-grade ratings. For accounts receivable, the Company is exposed to credit risk in the event of nonpayment by customers up to the amounts recorded on the consolidated balance sheets. The Company manages its accounts receivable credit risk through ongoing credit evaluation of its customers' financial conditions. The Company generally does not require collateral from its customers. For information regarding the Company’s significant customers, see Note 3.

Foreign Currency

The reporting currency of the Company is the United States dollar. The functional currency of the Company’s foreign subsidiaries is the U.S. dollar or the Euro, depending on the nature of the subsidiaries’ activities. Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured to the functional currency at period-end exchange rates. Foreign currency transaction gains and losses resulting from remeasurement are recognized in other income (expense), net in the consolidated statements of operations, and have not been material for any of the periods presented.

For those subsidiaries with non-U.S. dollar functional currencies, assets and liabilities are translated into U.S. dollars at period-end exchange rates. Revenue and expenses are translated at the average exchange rates during the period. Equity transactions are translated using historical exchange rates. The resulting translation adjustments are recorded in accumulated other comprehensive income (loss) as a component of stockholders’ equity (deficit).

Revenue Recognition

The Company accounts for revenue in accordance with Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606) for all periods presented.

The Company delivers its platform over the internet as a service. Customers choose to consume the platform under either capacity arrangements, in which customers commit to a certain amount of consumption at specified prices, or under on-demand arrangements, in which the Company charges for use of the platform monthly in arrears. Under capacity arrangements, from which a majority of revenue is derived, the Company typically bills its customers annually in advance of their consumption. Revenue from on-demand arrangements typically relates to initial consumption as part of customer onboarding and, to a lesser extent, overage consumption beyond a customer’s contracted usage amount or following the expiration of a customer’s contract. Revenue from on-demand arrangements represented approximately 2%, 3%, and 4% of the Company’s revenue for the fiscal years ended January 31, 2023, 2022, and 2021, respectively. The Company recognizes revenue as customers consume compute, storage, and data transfer resources under either of these arrangements. In limited instances, customers pay an annual deployment fee to gain access to a dedicated instance of a virtual private deployment. Deployment fees are recognized ratably over the contract term.
Customers do not have the contractual right to take possession of the Company’s platform. Pricing for the platform includes embedded support services, data backup and disaster recovery services, as well as future updates, when and if available, offered during the contract term.

Customer contracts for capacity typically have a term of one to four years. To the extent customers enter into such contracts and either consume the platform in excess of their capacity commitments or continue to use the platform after expiration of the contract term, they are charged for their incremental consumption. In many cases, customer contracts permit customers to roll over any unused capacity to a subsequent order, generally on the purchase of additional capacity. Customer contracts are generally non-cancelable during the contract term, although customers can terminate for breach if the Company materially fails to perform. For those customers who do not have a capacity arrangement, the Company’s on-demand arrangements generally have a monthly stated contract term and can be terminated at any time by either the customer or the Company.

For compute resources, consumption is based on the type of compute resource used and the duration of use or, for some features, the volume of data processed. For storage resources, consumption for a given customer is based on the average terabytes per month of all of such customer’s data stored in the platform. For data transfer resources, consumption is based on terabytes of data transferred, the public cloud provider used, and the region to and from which the transfer is executed.

The Company’s revenue also includes professional services and other revenue, which consists primarily of consulting, on-site technical solution services, and training related to the platform. Professional services revenue is recognized over time based on input measures, including time and materials costs incurred relative to total costs, with consideration given to output measures, such as contract deliverables, when applicable. Other revenue consists primarily of fees from customer training delivered on-site or through publicly available classes.

The Company determines revenue recognition in accordance with ASC 606 through the following five steps:

1) Identify the contract with a customer. The Company considers the terms and conditions of the contracts and the Company’s customary business practices in identifying its contracts under ASC 606. The Company determines it has a contract with a customer when the contract has been approved by both parties, it can identify each party’s rights regarding the services to be transferred and the payment terms for the services, it has determined the customer to have the ability and intent to pay, and the contract has commercial substance. At contract inception, the Company evaluates whether two or more contracts should be combined and accounted for as a single contract and whether the combined or single contract includes more than one performance obligation. The Company applies judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s payment history or, in the case of a new customer, credit and financial information pertaining to the customer.

2) Identify the performance obligations in the contract. Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract. The Company treats consumption of its platform for compute, storage, and data transfer resources as one single performance obligation because they are consumed by customers as a single, integrated offering. The Company does not make any one of these resources available for consumption without the others. Instead, each of compute, storage, and data transfer work together to drive consumption on the Company’s platform. The Company treats its virtual private deployments for customers, professional services, on-site technical solution services, and training each as a separate and distinct performance obligation. Some customers have negotiated an option to purchase additional capacity at a stated discount. These options generally do not provide a material right as they are priced at the Company’s SSP, as described below, as the stated discounts are not incremental to the range of discounts typically given.

3) Determine the transaction price. The transaction price is determined based on the consideration the Company expects to receive in exchange for transferring services to the customer. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue recognized under the contract will not occur. Variable consideration is estimated based on expected value, primarily relying on the Company’s history. In certain situations, the Company may also use the most likely amount as the basis of its estimate. None of the Company’s contracts contain a significant financing component. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental entities (e.g., sales and other indirect taxes).
4) Allocate the transaction price to performance obligations in the contract. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation on a relative SSP basis. The determination of a relative SSP for each distinct performance obligation requires judgment. The Company determines SSP for performance obligations based on an observable standalone selling price when it is available, as well as other factors, including the overall pricing objectives, which take into consideration market conditions and customer-specific factors, including a review of internal discounting tables, the services being sold, the volume of capacity commitments, and other factors. The observable standalone selling price is established based on the price at which products and services are sold separately. If an SSP is not observable through past transactions, the Company estimates it using available information including, but not limited to, market data and other observable inputs.

5) Recognize revenue when or as the Company satisfies a performance obligation. Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised service to a customer. Revenue is recognized when control of the services is transferred to the customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those services. The Company determined an output method to be the most appropriate measure of progress because it most faithfully represents when the value of the services is simultaneously received and consumed by the customer, and control is transferred. Virtual private deployment fees are recognized ratably over the term of the deployment as the deployment service represents a stand-ready performance obligation provided throughout the deployment term.

Allocation of Overhead Costs

Overhead costs that are not substantially dedicated for use by a specific functional group are allocated based on headcount. Such costs include costs associated with office facilities, depreciation of property and equipment, information technology (IT) and general recruiting related expenses and other expenses, such as software and subscription services.

Cost of Revenue

Cost of revenue consists primarily of (i) third-party cloud infrastructure expenses incurred in connection with the customers’ use of the Snowflake platform and deploying and maintaining the platform on public clouds, including different regional deployments, (ii) personnel-related costs associated with the Company’s customer support team, engineering team that is responsible for maintaining the Company's service availability and security of its platform, and professional services and training departments, including salaries, benefits, bonuses, and stock-based compensation, and (iii) costs of contracted third-party partners for professional services. Cost of revenue also includes amortization of internal-use software development costs, amortization of acquired developed technology intangible assets, expenses associated with software and subscription services dedicated for use by the Company’s customer support team and engineering team responsible for maintaining the Company's service, and allocated overhead.

Research and Development Costs

Research and development costs are expensed as incurred, unless they qualify as internal-use software development costs. Research and development expenses consist primarily of personnel-related expenses associated with the Company’s research and development staff, including salaries, benefits, bonuses, and stock-based compensation. Research and development expenses also include contractor or professional services fees, third-party cloud infrastructure expenses incurred in developing the Company’s platform, expenses associated with computer equipment, software and subscription services dedicated for use by the Company’s research and development organization, and allocated overhead.

Advertising Costs

Advertising costs, excluding expenses associated with the Company’s user conferences, are expensed as incurred and are included in sales and marketing expenses in the consolidated statements of operations. These costs were $68.2 million, $57.5 million, and $41.0 million for the fiscal years ended January 31, 2023, 2022, and 2021, respectively.
Income Taxes

The Company is subject to income taxes in the United States and numerous foreign jurisdictions. Significant judgment is required in determining its provision for income taxes and deferred tax assets and liabilities, including evaluating uncertainties in the application of accounting principles and complex tax laws.

The Company records a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Under this method, the Company recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts for financial reporting purposes and the tax bases of assets and liabilities, as well as for loss and tax credit carryforwards. The deferred assets and liabilities are measured using the statutorily enacted tax rates anticipated to be in effect when those tax assets and liabilities are expected to be realized or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date.

A valuation allowance is established if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company considers all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income in assessing the need for a valuation allowance.

The Company’s tax positions are subject to income tax audits by multiple tax jurisdictions throughout the world. The Company recognizes the tax benefit of an uncertain tax position only if it is more likely than not the position will be sustainable upon examination by the taxing authority, including resolution of any related appeals or litigation processes. This evaluation is based on all available evidence and assumes that the tax authorities have full knowledge of all relevant information concerning the tax position. The tax benefit recognized is measured as the largest amount of benefit which is more likely than not (greater than 50% likely) to be realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued and penalties related to unrecognized tax benefits in income tax expense. The Company makes adjustments to these reserves in accordance with the income tax guidance when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final tax outcome of these matters is different from the amounts recorded, such differences may affect the provision for income taxes in the period in which such determination is made and could have a material impact on the Company’s financial condition and operating results.

Stock-Based Compensation

The Company measures and recognizes compensation expense for all stock-based awards, including stock options, restricted stock units (RSUs), restricted common stock granted to employees, non-employee directors, and other service providers, and stock purchase rights granted under the Employee Stock Purchase Plan (ESPP Rights) to employees, based on the estimated fair value of the awards on the date of grant. The fair value of each stock option granted and ESPP Rights is estimated using the Black-Scholes option-pricing model. The determination of the grant-date fair value using an option-pricing model is affected by the estimated fair value of the Company’s common stock as well as assumptions regarding a number of other complex and subjective variables. These variables include expected stock price volatility over an expected term, actual and projected employee stock option exercise behaviors, the risk-free interest rate for an expected term, and expected dividends. The fair value of each RSU is based on the fair value of the Company’s common stock on the date of grant.

Stock-based compensation is generally recognized on a straight-line basis over the requisite service period. For awards with both a service-based vesting condition and a performance-based vesting condition, the stock-based compensation is recognized using an accelerated attribution method from the time it is deemed probable that the vesting condition will be met through the time the service-based vesting condition has been achieved. If an award contains a provision whereby vesting is accelerated upon a change in control, the Company recognizes stock-based compensation expense on a straight-line basis, as a change in control is considered to be outside of the Company’s control and is not considered probable until it occurs. Forfeitures are accounted for in the period in which they occur.
During the fiscal year ended January 31, 2023, the Company began funding withholding taxes due upon the vesting of employee RSUs in certain jurisdictions by net share settlement, rather than its previous approach of selling shares of the Company’s common stock. The amount of withholding taxes related to net share settlement of employee RSUs is reflected as (i) a reduction to additional paid-in-capital, and (ii) cash outflows for financing activities when the payments are made. The shares withheld by the Company as a result of the net share settlement of RSUs are not considered issued and outstanding, and do not impact the calculation of basic net income (loss) per share attributable to Snowflake Inc. Class A and Class B common stockholders.

Net Loss Per Share Attributable to Snowflake Inc. Class A and Class B Common Stockholders

As discussed in Note 12, on March 1, 2021, all shares of the Company’s then-outstanding Class B common stock were automatically converted into the same number of shares of Class A common stock pursuant to the terms of the Company’s amended and restated certificate of incorporation.

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 considered unvested common stock and, prior to the automatic conversion of all of its outstanding redeemable convertible preferred stock into Class B common stock in connection with its initial public offering (IPO) in September 2020, all series of its redeemable convertible preferred 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. Under the two-class method, net loss is not allocated to the redeemable convertible preferred stock as the holders of such stock do not have a contractual obligation to share in the Company’s losses.

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. 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, redeemable convertible preferred stock, stock options, restricted common stock, RSUs, ESPP Rights, early exercised stock options, and common stock warrants 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 rights, including the liquidation and dividend rights, of the holders of Snowflake Inc. Class A and Class B common stock are identical, except with respect to voting, converting, and transfer rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net loss per share attributable to Snowflake Inc. common stockholders are, therefore, the same for both Snowflake Inc. Class A and Class B common stock on both individual and combined basis.

Cash and Cash Equivalents

The Company considers all highly liquid investments with original or remaining maturities of three months or less when purchased to be cash equivalents.

Restricted Cash

Restricted cash primarily consists of collateralized letters of credit established in connection with lease agreements for the Company’s facilities. Restricted cash is included in current assets for leases that expire within one year and is included in non-current assets for leases that expire more than one year from the balance sheet date.

Investments

The Company’s investments in marketable debt securities have been classified and accounted for as available-for-sale and are recorded at estimated fair value. The Company classifies its marketable debt securities as either short-term or long-term at each balance sheet date based on each instrument’s underlying contractual maturity date. Short-term investments are investments with original maturities of less than one year when purchased. Purchase premiums and discounts are amortized or accreted using the effective interest method over the life of the related security and such amortization and accretion are included in interest income in the consolidated statements of operations.
For available-for-sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell or it is more likely than not that the Company will be required to sell the security before the recovery of its entire amortized cost basis. If either of these criteria is met, the security’s amortized cost basis is written down to fair value through other income (expense), net in the consolidated statements of operations. If neither of these criteria is met, the Company further assesses whether the decline in fair value below amortized cost is due to credit or non-credit related factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and any adverse conditions specifically related to the security, among other factors. Credit related unrealized losses are recognized as an allowance on the consolidated balance sheets with a corresponding charge in the other income (expense), net in the consolidated statements of operations. Non-credit related unrealized losses and unrealized gains on available-for-sale debt securities are included in accumulated other comprehensive income (loss).

Realized gains and losses are determined based on the specific identification method and are reported in other income (expense), net in the consolidated statements of operations.

Strategic Investments

The Company’s strategic investments consist of non-marketable equity and debt securities in privately-held companies and marketable equity securities in publicly-traded companies, in which the Company does not have a controlling interest or significant influence. Strategic investments are included in other assets on the consolidated balance sheets.

Non-marketable equity securities are recorded at cost and adjusted for observable transactions for the same or similar investments of the same issuer (referred to as the Measurement Alternative) or impairment. For these investments, the Company recognizes remeasurement adjustments, including upward and downward adjustments, and impairments, if any, in other income (expense), net in the consolidated statements of operations. Valuations of privately-held securities are inherently complex due to the lack of readily available market data and require the use of judgment. For example, determining whether an orderly transaction is for an identical or similar investment requires judgment based on the rights and obligations that are attached to the securities. In determining the estimated fair value of these investments, the Company uses the most recent data available to the Company.

Marketable equity securities are measured at fair value with changes in fair value recorded in other income (expense), net in the consolidated statements of operations.

Non-marketable debt securities are classified as available-for-sale and are recorded at their estimated fair value with changes in fair value recorded through accumulated other comprehensive income (loss).

Strategic investments are subject to periodic impairment analysis, which would involve an assessment of both qualitative and quantitative factors, including the investee’s financial metrics, market acceptance of the investee’s product or technology, and the rate at which the investee is using its cash. If the investment is considered impaired, the Company recognizes an impairment through other income (expense), net in the consolidated statements of operations and establishes a new carrying value for the investment.

Fair Value of Financial Instruments

The Company’s primary financial instruments include cash equivalents, investments in marketable securities, strategic investments, restricted cash, accounts receivable, accounts payable and accrued expenses. The carrying amounts of cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term nature. See Note 5 for information regarding the fair value of the Company’s investments in marketable securities and strategic investments.
Derivative Financial Instruments

During the fiscal year ended January 31, 2023, the Company began using derivative financial instruments to manage its exposure to certain foreign currency exchange risks associated with certain intercompany balances denominated in currencies other than the U.S. dollar. These derivative financial instruments consist of deliverable foreign currency forward contracts with maturities of one month or less and are not designated as hedging instruments. As such, all changes in the fair value of these derivative instruments are recorded in other income (expense), net on the consolidated statements of operations, and are intended to offset the foreign currency transaction gains or losses associated with the underlying intercompany balances. The resulting derivative assets and liabilities are measured at fair value using Level 2 inputs and presented as prepaid expenses and other current assets and accrued expenses and other current liabilities, as applicable, on the consolidated balance sheets. Cash flows at settlement of such foreign currency forward contracts are classified as operating activities in the consolidated statement of cash flows.

As of January 31, 2023, all of the Company’s derivative assets and liabilities were settled, and the related realized gains (losses) were not material for the fiscal year ended January 31, 2023.

Accounts Receivable, Net

Accounts receivable include billed and unbilled receivables, net of allowance for credit losses. Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The allowance for credit losses is estimated based on the Company’s assessment of the collectibility of accounts receivable by considering various factors, including the age of each outstanding invoice, the collection history of each customer, historical write-off experience, current economic conditions, and reasonable and supportable forecasts of future economic conditions over the life of the receivable. The Company assesses collectibility by reviewing accounts receivable on an aggregate basis when similar characteristics exist and on an individual basis when specific customers with collectibility issues are identified. Accounts receivable deemed uncollectible are charged against the allowance for credit losses when identified.

Internal-Use Software Development Costs

The Company capitalizes qualifying internal-use software development costs, primarily related to its cloud platform. 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 costs are included in property and equipment, net on the consolidated balance sheets. These costs are amortized over the estimated useful life of the software, which is three years, on a straight-line basis. The amortization of capitalized costs related to the Company’s platform applications is primarily included in cost of revenue in the consolidated statements of operations.

Property and Equipment, Net

Property and equipment, net is stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful life of the related asset, ranging from generally three to seven years. Leasehold improvements are amortized over the shorter of estimated useful life or the remaining lease term. Expenses that improve an asset or extend its remaining useful life are capitalized. Costs of maintenance or repairs that do not extend the lives of the respective assets are charged to expenses as incurred.
Deferred Commissions

The Company capitalizes incremental costs of obtaining a contract with a customer if such costs are recoverable. Such costs consist primarily of (i) sales commissions tied to new customer or customer expansion contracts earned by the Company’s sales force and the associated payroll taxes and fringe benefits, and (ii) certain referral fees earned by third parties. These costs are capitalized and then amortized over a period of benefit that is determined to be five years. The Company determined the period of benefit by taking into consideration the length of terms in its customer contracts, life of the technology, and other factors. Amounts expected to be recognized within one year of the balance sheet date are recorded as deferred commissions, current, and the remaining portion is recorded as deferred commissions, non-current, on the consolidated balance sheets. Amortization expense is included in sales and marketing expenses in the consolidated statements of operations. As a result of modifications to the Company’s sales compensation plan during the fiscal year ended January 31, 2021, a portion of the sales commissions paid to the sales force is earned based on the rate of the customers’ consumption of the Company’s platform, in addition to a portion of the commissions earned upon the origination of the new customer or customer expansion contract. Sales commissions tied to customers’ consumption are not considered incremental costs and are expensed in the same period as they are earned. Deferred commissions are periodically analyzed for impairment. There were no impairment losses relating to the deferred commissions for all periods presented.

Leases

The Company determines if an arrangement is or contains a lease at inception by evaluating various factors, including if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration and other facts and circumstances. Lease classification is determined at the lease commencement date. Operating leases are included in operating lease right-of-use assets, operating lease liabilities, current, and operating lease liabilities, non-current on the consolidated balance sheets. The Company did not have any material finance leases for all periods presented.

Right-of-use assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease payments consist primarily of the fixed payments under the arrangement, less any lease incentives. Variable lease payments are expensed as incurred and include certain non-lease components, such as maintenance and other services provided by the lessor to the extent the charges are variable. The Company uses an estimate of its incremental borrowing rate (IBR) based on the information available at the lease commencement date in determining the present value of lease payments, unless the implicit rate is readily determinable. In determining the appropriate IBR, the Company considers various factors, including, but not limited to, its credit rating, the lease term, and the currency in which the arrangement is denominated. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

The Company does not separate non-lease components from lease components for its facility asset portfolio. In addition, the Company does not recognize right-of-use assets and lease liabilities for short-term leases, which have a lease term of 12 months or less and do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. Lease cost for short-term leases is recognized on a straight-line basis over the lease term.

In addition, the Company subleases certain of its unoccupied facilities to third parties. Any impairment to the associated right-of-use assets, leasehold improvements, or other assets as a result of a sublease is recognized in the period the sublease is executed and recorded in the consolidated statements of operations. The Company recognizes sublease income on a straight-line basis over the sublease term. Sublease income is recorded as a reduction to the Company’s operating lease costs.
Business Combinations

The Company applies a screen test to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction is accounted for as an asset acquisition or business combination. When the Company acquires a business, the purchase consideration is allocated to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated respective fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Critical estimates used in valuing certain intangible assets include, but are not limited to, time and resources required to recreate the assets acquired. These estimates are based on information obtained from the management of the acquired companies, the Company’s assessment of the information, and historical experience. The Company’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period of up to one year from the acquisition date, the Company may record adjustments to the preliminary fair value of the assets acquired and liabilities assumed with a corresponding offset to goodwill for these business combinations.

Impairment of Goodwill, Intangible Assets, and Other Long-Lived Assets

The Company’s long-lived assets with finite lives consist primarily of property and equipment, capitalized development software costs, operating lease right-of-use assets and acquired intangible assets. Long-lived assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets held and used is measured by comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset exceeds these estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the assets exceeds the fair value of the asset or asset group. The Company did not recognize any material impairments of long-lived assets for all periods presented.

Goodwill and indefinite-lived intangible assets are not amortized but rather tested for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that impairment may exist. Goodwill impairment is recognized when the quantitative assessment results in the carrying value of the reporting unit exceeding its fair value, in which case an impairment charge is recorded to goodwill to the extent the carrying value exceeds the fair value, limited to the amount of goodwill. The Company did not recognize any impairment of goodwill for all periods presented.

Deferred Revenue

The Company records deferred revenue when the Company receives customer payments in advance of satisfying the performance obligations on the Company’s contracts. Capacity arrangements are generally billed and paid in advance of satisfaction of performance obligations, and the Company’s on-demand arrangements are billed in arrears generally on a monthly basis. Deferred revenue also includes amounts that have been invoiced but not yet collected, classified as accounts receivable, when the Company has an enforceable right to invoice for capacity arrangements. Deferred revenue relating to the Company’s capacity arrangements that have a contractual expiration date of less than 12 months are classified as current. For capacity arrangements that have a contractual expiration date of greater than 12 months, the Company apportions deferred revenue between current and non-current based upon an assumed ratable consumption of these capacity arrangements over the entire term of the arrangement, even though it does not recognize revenue ratably over the term of the contract as customers have flexibility in their consumption and revenue is generally recognized on consumption. In addition, in many cases, the Company’s customer contracts also permit customers to roll over any unused capacity to a subsequent order, generally on the purchase of additional capacity. As such, the current or non-current classification of deferred revenue may not reflect the actual timing of revenue recognition.
Recently Adopted Accounting Pronouncements

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected, with further clarifications made more recently. For trade receivables, loans, and other financial instruments, the Company is required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses which reflects losses that are probable. Credit losses relating to available-for-sale debt securities are required to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. The Company early adopted this guidance effective February 1, 2021 on a modified retrospective basis, and the adoption did not result in any cumulative effect adjustment in its consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by this new guidance. The Company adopted this guidance effective February 1, 2021 on a prospective basis, and the adoption did not have a material impact on its consolidated financial statements.

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by eliminating some exceptions to the general approach in ASC 740, Income Taxes in order to reduce the cost and complexity of its application. The Company early adopted this guidance effective February 1, 2021, and the adoption did not have a material impact on its consolidated financial statements.

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. Under the current business combinations guidance, such assets and liabilities are recognized by the acquirer at fair value on the acquisition date. The Company early adopted this guidance upon issuance to all business combinations that occur on or after the date of adoption, and the adoption did not have a material impact on the Company's consolidated financial statements.
v3.23.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
 12 Months Ended
Jan. 31, 2023
Revenue Recognition and Deferred Revenue [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):

Fiscal Year Ended January 31,
202320222021
Product revenue$1,938,783 $1,140,469 $553,794 
Professional services and other revenue126,876 78,858 38,255 
Total$2,065,659 $1,219,327 $592,049 
Revenue by geographic area, based on the location of the Company’s customers (or end-customers under reseller arrangements), was as follows (in thousands):

Fiscal Year Ended January 31,
202320222021
Americas:
United States$1,633,843 $977,077 $499,590 
Other Americas(1)
46,577 26,324 9,480 
EMEA(1)(2)
292,666 169,268 66,813 
Asia-Pacific and Japan(1)
92,573 46,658 16,166 
Total$2,065,659 $1,219,327 $592,049 
________________
(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 January 31, 2023 and 2022, allowance for credit losses of $2.2 million and $1.3 million, was included in the Company’s accounts receivable, net balance, respectively.

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 January 31, 2023 and 2022, 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 fiscal years ended January 31, 2023, 2022, and 2021.

Deferred Revenue

The Company recognized $974.3 million, $535.8 million, and $257.9 million of revenue for the fiscal years ended January 31, 2023, 2022, and 2021, respectively, from the deferred revenue balances as of January 31, 2022, 2021, and 2020, 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 January 31, 2023, the Company’s RPO was $3.7 billion, of which the Company expects approximately 55% to be recognized as revenue in the twelve months ending January 31, 2024 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.
v3.23.1
Cash Equivalents and Investments
 12 Months Ended
Jan. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Investments Cash Equivalents and InvestmentsThe following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the consolidated balance sheets (in thousands):
January 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$379,094 $— $— $379,094 
Commercial paper9,305 — (1)9,304 
Corporate notes and bonds6,902 1 — 6,903 
Certificates of deposit3,045 — (1)3,044 
Total cash equivalents398,346 1 (2)398,345 
Investments:
Corporate notes and bonds2,124,454 2,096 (23,470)2,103,080 
Commercial paper883,023 272 (1,947)881,348 
U.S. government and agency securities715,949 107 (12,220)703,836 
Certificates of deposit453,557 278 (1,110)452,725 
Total investments4,176,983 2,753 (38,747)4,140,989 
Total cash equivalents and investments$4,575,329 $2,754 $(38,749)$4,539,334 

January 31, 2022
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$722,492 $— $— $722,492 
Commercial paper77,795 1 (2)77,794 
U.S. government securities36,997 — (2)36,995 
Corporate notes and bonds7,950 — (1)7,949 
Total cash equivalents845,234 1 (5)845,230 
Investments:
Corporate notes and bonds2,610,010 91 (12,062)2,598,039 
Commercial paper884,376 81 (821)883,636 
U.S. government and agency securities439,449 28 (2,558)436,919 
Certificates of deposit104,108 4 (135)103,977 
Total investments4,037,943 204 (15,576)4,022,571 
Total cash equivalents and investments$4,883,177 $205 $(15,581)$4,867,801 

The Company included $19.4 million and $14.1 million of interest receivable in prepaid expenses and other current assets on the consolidated balance sheets as of January 31, 2023 and 2022, respectively. The Company did not recognize an allowance for credit losses against interest receivable as of January 31, 2023 and 2022 because such potential losses were not material.

As of January 31, 2023, 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, by remaining contractual maturity, are as follows (in thousands):

January 31, 2023
Estimated
Fair Value
Due within 1 year$3,087,217 
Due in 1 year to 3 years1,073,023 
Total$4,160,240 
The following tables show the fair values of, and the gross unrealized losses on, the Company’s available-for-sale marketable debt securities, classified by the length of time that the securities have been in a continuous unrealized loss position and aggregated by investment type, on the consolidated balance sheets (in thousands):

January 31, 2023
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
Commercial paper$9,304 $(1)$— $— $9,304 $(1)
Certificates of deposit3,044 (1)— — 3,044 (1)
Total cash equivalents12,348 (2)— — 12,348 (2)
Investments:
Corporate notes and bonds899,655 (8,521)736,431 (14,949)1,636,086 (23,470)
U.S. government and agency securities387,207 (3,157)232,771 (9,063)619,978 (12,220)
Commercial paper561,793 (1,947)— — 561,793 (1,947)
Certificates of deposit256,428 (1,110)— — 256,428 (1,110)
Total investments2,105,083 (14,735)969,202 (24,012)3,074,285 (38,747)
Total cash equivalents and investments$2,117,431 $(14,737)$969,202 $(24,012)$3,086,633 $(38,749)

January 31, 2022
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
Commercial paper$55,819 $(2)$— $— $55,819 $(2)
U.S. government securities36,995 (2)— — 36,995 (2)
Corporate notes and bonds7,629 (1)— — 7,629 (1)
Total cash equivalents100,443 (5)— — 100,443 (5)
Investments:
Corporate notes and bonds2,378,956 (12,044)8,935 (18)2,387,891 (12,062)
Commercial paper653,827 (821)— — 653,827 (821)
U.S. government and agency securities334,980 (2,558)— — 334,980 (2,558)
Certificates of deposit49,118 (135)— — 49,118 (135)
Total investments3,416,881 (15,558)8,935 (18)3,425,816 (15,576)
Total cash equivalents and investments$3,517,324 $(15,563)$8,935 $(18)$3,526,259 $(15,581)

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 value of these securities due to credit related factors was not material as of January 31, 2023 and 2022.

See Note 5 for information regarding the Company’s strategic investments.
v3.23.1
Fair Value Measurements
 12 Months Ended
Jan. 31, 2023
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 measured at fair value on a recurring basis as of January 31, 2023 (in thousands):

Level 1
Level 2
Total
Cash equivalents:
Money market funds$379,094 $— $379,094 
Commercial paper— 9,304 9,304 
Corporate notes and bonds— 6,903 6,903 
Certificates of deposit— 3,044 3,044 
Short-term investments:
Corporate notes and bonds— 1,301,296 1,301,296 
Commercial paper— 881,348 881,348 
Certificates of deposit— 445,194 445,194 
U.S. government and agency securities— 440,128 440,128 
Long-term investments:
Corporate notes and bonds— 801,784 801,784 
U.S. government and agency securities— 263,708 263,708 
Certificates of deposit— 7,531 7,531 
Total
$379,094 $4,160,240 $4,539,334 
The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of January 31, 2022 (in thousands):

Level 1
Level 2
Total
Cash equivalents:
Money market funds$722,492 $— $722,492 
Commercial paper— 77,794 77,794 
U.S. government securities— 36,995 36,995 
Corporate notes and bonds— 7,949 7,949 
Short-term investments:
Corporate notes and bonds— 1,662,436 1,662,436 
Commercial paper— 883,636 883,636 
U.S. government and agency securities— 116,712 116,712 
Certificates of deposit— 103,580 103,580 
Long-term investments:
Corporate notes and bonds— 935,603 935,603 
U.S. government and agency securities— 320,207 320,207 
Certificates of deposit— 397 397 
Total
$722,492 $4,145,309 $4,867,801 

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.

Strategic Investments

The tables above do not include the Company’s strategic investments, which consist primarily of non-marketable equity securities accounted for using the Measurement Alternative and marketable equity securities.

The Company’s non-marketable equity securities accounted for using the Measurement Alternative are recorded at fair value on a non-recurring basis and 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 Company’s marketable equity securities are recorded at fair value on a recurring basis and classified within Level 1 of the fair value hierarchy because they are valued using the quoted market price.

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

January 31, 2023January 31, 2022
Equity securities:
Non-marketable equity securities under Measurement Alternative$174,248 $170,860 
Non-marketable equity securities under equity method5,066 — 
Marketable equity securities22,122 34,646 
Debt securities:
Non-marketable debt securities1,500 2,250 
Total strategic investments—included in other assets$202,936 $207,756 
The following table summarizes the unrealized gains and losses included in the carrying value of the Company’s strategic investments in equity securities held as of January 31, 2023 (in thousands):

Fiscal Year Ended January 31,
20232022
Non-marketable equity securities under Measurement Alternative:
Upward adjustments$4,125 $32,975 
Impairments(38,036)— 
Marketable equity securities:
Net unrealized losses(12,524)(5,354)
Total—included in other income (expense), net$(46,435)$27,621 

During the fiscal year ended January 31, 2021, the Company did not have any strategic investments in marketable equity securities and did not record any upward or downward adjustments, or impairments, on non-marketable equity securities under Measurement Alternative.

No realized gains or losses were recognized on the Company’s strategic investments in equity securities during any of periods presented. The cumulative upward adjustments and the cumulative impairments to the carrying value of the non-marketable equity securities accounted for using the Measurement Alternative that the Company held as of January 31, 2023 were $37.1 million and $38.0 million, respectively.
v3.23.1
Property and Equipment, Net
 12 Months Ended
Jan. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

January 31, 2023January 31, 2022
Leasehold improvements$59,872 $51,801 
Computers, equipment, and software20,050 8,735 
Furniture and fixtures14,800 8,488 
Capitalized internal-use software development costs44,059 17,154 
Construction in progress—capitalized internal-use software development costs61,575 36,163 
Construction in progress—other7,313 6,185 
Total property and equipment, gross207,669 128,526 
Less: accumulated depreciation and amortization(1)
(46,846)(23,447)
Total property and equipment, net$160,823 $105,079 
________________
(1)Includes $19.9 million and $9.7 million of accumulated amortization related to capitalized internal-use software development costs as of January 31, 2023 and 2022, respectively.

Depreciation and amortization expense was $24.7 million, $13.7 million, and $7.0 million for the fiscal years ended January 31, 2023, 2022, and 2021, respectively. Included in these amounts were the amortization of capitalized internal-use software development costs of $10.2 million, $4.2 million, and $2.9 million for the fiscal years ended January 31, 2023, 2022, and 2021, respectively.
v3.23.1
Business Combinations
 12 Months Ended
Jan. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Business Combinations Business Combinations
Fiscal 2023

Streamlit, Inc.

On March 31, 2022, the Company acquired all outstanding stock of Streamlit, Inc. (Streamlit), a privately-held company which provides an open-source framework for creating and deploying data applications. The Company acquired Streamlit primarily for its talent and developer community. The Company has accounted for this transaction as a business combination. The acquisition date fair value of the purchase consideration was $650.8 million, which was comprised of the following (in thousands):

Estimated Fair Value
Cash$211,839 
Common stock(1)
438,916 
Total
$650,755 
________________
(1)Approximately 1.9 million shares of the Company’s Class A common stock were included in the purchase consideration and the fair values of these shares were determined based on the closing market price of $229.13 per share on the acquisition date.

In addition, in connection with this business combination, the Company issued to Streamlit’s three founders a total of 0.4 million shares of the Company’s Class A common stock in exchange for a portion of their Streamlit stock. These shares are subject to vesting agreements pursuant to which the shares will vest over three years, subject to each founder’s continued employment with the Company or its affiliates. The $93.7 million fair value of these shares are accounted for as post-combination stock-based compensation over the requisite service period of three years. See Note 12 for further discussion.

The purchase consideration was preliminarily allocated to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition. During the three months ended January 31, 2023, the Company recorded a measurement period adjustment which did not have a material impact on goodwill. The updated preliminary allocation of purchase consideration, inclusive of measurement period adjustments, was as follows:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents$33,914 
Goodwill494,411 
Developer community intangible asset150,000 
5
Other net tangible liabilities(659)
Deferred tax liabilities, net(1)
(26,911)
Total$650,755 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.

The fair value of the developer community intangible asset was estimated using the replacement cost method which utilizes assumptions for the cost to replace it, such as time and resources required, as well as a theoretical profit margin and opportunity cost.

The excess of purchase consideration over the preliminary fair value 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 of $1.9 million associated with this business combination were recorded as a general and administrative expense during the fiscal year ended January 31, 2023.
From the date of acquisition through January 31, 2023, revenue attributable to Streamlit was not material. It was impracticable to determine the effect on the Company's net loss attributable to Streamlit as its operations have been integrated into the Company's ongoing operations since the date of acquisition.

Applica Sp. z.o.o.

On September 23, 2022, the Company acquired all outstanding stock of Applica Sp. z.o.o. (Applica), a privately-held company which provides an artificial intelligence platform for document understanding, for $174.7 million in cash. The Company acquired Applica primarily for its talent and developed technology. The Company has accounted for this transaction as a business combination.

The purchase consideration was preliminarily allocated to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition. During the three months ended January 31, 2023, the Company recorded a measurement period adjustment which did not have a material impact on goodwill. The updated preliminary allocation of purchase consideration, inclusive of measurement period adjustments, was as follows:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash$61 
Goodwill146,444 
Developed technology intangible asset35,000 
5
Other net tangible liabilities(612)
Deferred tax liabilities, net(1)
(6,202)
Total$174,691 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.

The fair value of the developed technology intangible asset was estimated using the replacement cost method, which utilizes assumptions for the cost to replace it, such as time and resources required, as well as a theoretical profit margin and opportunity cost.

The excess of purchase consideration over the preliminary fair value of identifiable net assets acquired was recorded as goodwill, which is generally 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 of $3.4 million associated with this business combination were recorded as a general and administrative expense during the fiscal year ended January 31, 2023.

The results of operations of Applica from the date of acquisition, which were not material, have been included in the Company’s consolidated statements of operations for the fiscal year ended January 31, 2023.

Other Business Combination

During the fiscal year ended January 31, 2023, the Company acquired all outstanding stock of a privately-held company for $10.4 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 $2.0 million as a developed technology intangible asset (to be amortized over an estimated useful life of five years), $0.3 million of net tangible assets acquired, and $8.1 million as goodwill, which is not 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 associated with this business combination were not material for the fiscal year ended January 31, 2023, and were recorded as a general and administrative expense in the consolidated statements of operations.

From the date of acquisition through January 31, 2023, revenue attributable to this business combination was not material. It was impracticable to determine the effect on the Company's net loss attributable to this business combination as its operations have 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 the above three companies acquired during fiscal 2023, as if each had been acquired as of February 1, 2021 (in thousands):

Pro Forma
Fiscal Year Ended January 31,
20232022
(unaudited)
Revenue$2,067,262 $1,221,461 
Net loss$(866,099)$(817,848)

The pro forma financial information for all periods presented above has been calculated after adjusting the results of operations of these three acquired companies to reflect certain business combination effects, including the amortization of the acquired intangible asset, stock-based compensation, income tax impact, and acquisition-related costs incurred by the Company and these three acquired companies as though these business combinations occurred as of February 1, 2021, the beginning of the Company’s fiscal 2022. The historical consolidated financial information in the unaudited pro forma tables above has been adjusted in the pro forma combined financial results to give effect to pro forma events that are directly attributable to these business combinations, 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 the business combinations had taken place as of February 1, 2021.

Fiscal 2021

During the fiscal year ended January 31, 2021, the Company acquired certain assets from a privately-held company for $7.1 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 $5.7 million as a developed technology intangible asset (to be amortized over an estimated useful life of five years) and $1.4 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 represents the synergies expected from expanded market opportunities when integrating the acquired developed technologies with the Company’s offerings.

Acquisition-related costs associated with this business combination were not material for the fiscal year ended January 31, 2021, and were recorded as a general and administrative expense in the consolidated statements of operations. The results of operations of the business combination have been included in the Company’s consolidated financial statements from the acquisition date. The business combination did not have a material impact on the Company’s consolidated financial statements. Therefore, historical results of operations prior to the acquisition date and pro forma results of operations have not been presented.
v3.23.1
Intangible Assets and Goodwill
 12 Months Ended
Jan. 31, 2023
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):

January 31, 2023
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developer community$150,000 $(25,206)$124,794 
Developed technology48,332 (9,608)38,724 
Assembled workforce28,252 (11,036)17,216 
Patents8,874 (4,421)4,453 
Other47 (47)— 
Total finite-lived intangible assets$235,505 $(50,318)$185,187 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$186,013 

January 31, 2022
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Assembled workforce$28,252 $(3,941)$24,311 
Developed technology11,332 (4,812)6,520 
Patents8,174 (2,690)5,484 
Other47 (47)— 
Total finite-lived intangible assets$47,805 $(11,490)$36,315 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$37,141 

Intangible assets acquired during the fiscal year ended January 31, 2023 consisted primarily of developed community and developed technology intangible assets acquired in connection with business combinations. See Note 7 for further details. Intangible assets acquired during the fiscal year ended January 31, 2022 consisted primarily of $28.3 million of assembled workforce assets with a useful life of four years.

Amortization expense of intangible assets was $38.8 million, $7.8 million, and $2.8 million for the fiscal years ended January 31, 2023, 2022, and 2021, respectively.

As of January 31, 2023, future amortization expense is expected to be as follows (in thousands):
Amount
Fiscal Year Ending January 31,
2024$48,501 
202547,780 
202641,649 
202737,497 
20289,760 
Thereafter—
Total$185,187 
Goodwill

Changes in goodwill were as follows (in thousands):

Amount
Balance—January 31, 2021 and January 31, 2022
$8,449 
Additions and related adjustments(1)
648,921 
Balance—January 31, 2023
$657,370 
________________
(1)Includes measurement period adjustments related to the Company’s preliminary fair values of the assets acquired and liabilities assumed in business combinations, which did not have a material impact on goodwill. See Note 7 for further details.
v3.23.1
Accrued Expenses and Other Current Liabilities
 12 Months Ended
Jan. 31, 2023
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):

January 31, 2023January 31, 2022
Accrued compensation$123,173 $98,916 
Employee contributions under employee stock purchase plan36,648 28,497 
Accrued third-party cloud infrastructure expenses26,535 13,341 
Liabilities associated with sales, marketing and business development programs23,444 16,284 
Accrued taxes20,003 12,709 
Accrued professional services11,776 7,068 
Accrued purchases of property and equipment3,876 4,204 
Other23,614 19,645 
Total accrued expenses and other current liabilities$269,069 $200,664 
v3.23.1
Commitment and Contingencies
 12 Months Ended
Jan. 31, 2023
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 2035. 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.

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.

The components of lease costs and other information related to leases were as follows (in thousands):

Fiscal Year Ended January 31,
202320222021
Operating lease costs$46,240 $35,745 $33,627 
Variable lease costs7,906 6,029 6,203 
Sublease income(12,782)(12,722)(12,779)
Total lease costs$41,364 $29,052 $27,051 
Supplemental cash flow information and non-cash activity related to the Company’s operating leases were as follows (in thousands):

Fiscal Year Ended January 31,
202320222021
Cash payments (receipts) included in the measurement of operating lease liabilities—operating cash flows
$42,342 $38,249 $31,281 
Operating lease liabilities arising from obtaining right-of-use assets$72,158 $28,314 $11,506 

Weighted-average remaining lease term and discount rate for the Company’s operating leases were as follows:

January 31, 2023January 31, 2022
Weighted-average remaining lease term (years)
8.28.0
Weighted-average discount rate
6.5 %5.9 %

The total remaining lease payments under non-cancelable operating leases and lease receipts for subleases as of January 31, 2023 were as follows (in thousands):

Operating Leases
Subleases
Total
Fiscal Year Ending January 31,
2024$32,033 $(12,083)$19,950 
202541,201 (7,746)33,455 
202638,044 (5,774)32,270 
202738,156 (5,960)32,196 
202835,727 (6,153)29,574 
Thereafter151,951 (9,586)142,365 
Total lease payments (receipts)$337,112 $(47,302)$289,810 
Less: imputed interest(85,454)
Present value of operating lease liabilities$251,658 

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. 
Future minimum payments under the Company’s non-cancelable purchase commitments with a remaining term in excess of one year as of January 31, 2023 are presented in the table below (in thousands):

Amount
Fiscal Year Ending January 31,
2024$388,539 
2025499,406 
2026931,199 (1)
2027556,178 
2028651,781 
Thereafter—
Total$3,027,103 
________________
(1)Includes $416.4 million of remaining non-cancelable contractual commitments as of January 31, 2023 related to one of the Company's third-party cloud infrastructure agreements, under which the Company committed to spend an aggregate of at least $555.0 million, between September 2020 and December 2025 with no minimum purchase commitment during any year. The Company is required to pay the difference if it fails to meet the minimum purchase commitment by December 2025, and such payment can be applied to qualifying expenditures for cloud infrastructure services for up to twelve months after December 2025.

In January 2023, the Company amended one of its third-party cloud infrastructure agreements effective February 1, 2023 (the January 2023 Amendment). Under the amended agreement, the Company has committed to spend an aggregate of at least $2.5 billion from fiscal 2024 to fiscal 2028 on cloud infrastructure services ($350.0 million in fiscal 2024, $450.0 million in fiscal 2025, $500.0 million in fiscal 2026, $550.0 million in fiscal 2027, and $650.0 million in fiscal 2028), which are reflected in the table above. The Company is required to pay the difference if it fails to meet the minimum purchase commitment during any fiscal year, and such payment can be applied to qualifying expenditures for cloud infrastructure services during the term of the amended agreement. The remaining non-cancelable purchase commitments under the agreement prior to the January 2023 Amendment, the aggregate amount of which was $732.0 million as of January 31, 2023, is not reflected in the table above as the Company is no longer required to fulfill such commitments.

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 fiscal years ended January 31, 2023, 2022, and 2021.

Legal Matters—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 January 31, 2023, the Company had a total of $16.8 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 fiscal years ended January 31, 2023, 2022, and 2021, losses recorded in the consolidated statements of operations in connection with the indemnification provisions were not material.
v3.23.1
Redeemable Convertible Preferred Stock
 12 Months Ended
Jan. 31, 2023
Equity [Abstract]  
Redeemable Convertible Preferred Stock Redeemable Convertible Preferred StockUpon completion of its IPO in September 2020, as further discussed in Note 12, all shares of the Company’s redeemable convertible preferred stock outstanding, totaling 182.3 million, were automatically converted into an equivalent number of shares of Class B common stock on one-to-one basis and their carrying value of $1.4 billion was reclassified into stockholders’ equity. As of January 31, 2023 and 2022, there were no shares of redeemable convertible preferred stock issued and outstanding.
v3.23.1
Equity
 12 Months Ended
Jan. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Equity Equity
Initial Public Offering and Private Placements—In September 2020, the Company completed its IPO, in which the Company issued and sold 32.2 million shares of its Class A common stock at $120.00 per share, including 4.2 million shares issued upon the exercise of the underwriters’ option to purchase additional shares. The Company received net proceeds of $3.7 billion after deducting underwriting discounts. In connection with the IPO:
•all 182.3 million shares of the Company’s outstanding redeemable convertible preferred stock automatically converted into an equivalent number of shares of Class B common stock on a one-to-one basis; and

•Salesforce Ventures LLC and Berkshire Hathaway Inc. each purchased 2.1 million shares of the Company’s Class A common stock at $120.00 per share in concurrent private placements that closed immediately subsequent to the closing of the IPO. The Company received aggregate proceeds of $500.0 million in these concurrent private placements and did not pay underwriting discounts with respect to the shares of Class A common stock that were sold in these private placements.

Prior to the IPO, deferred offering costs, which consist of direct incremental legal, accounting, and consulting fees relating to the IPO, were capitalized in other assets on the consolidated balance sheets. These deferred offering costs, net of reimbursement received from the underwriters upon completion of the IPO, were not material.

Preferred Stock—In connection with the IPO, the Company’s amended and restated certificate of incorporation became effective, which authorized the issuance of 200.0 million shares of undesignated preferred stock with a par value of $0.0001 per share and with rights and preferences, including voting rights, designated from time to time by the board of directors.

Common Stock and Elimination of Dual-Class Structure—The Company has two classes of common stock authorized: Class A common stock and Class B common stock. In connection with the IPO, the Company’s amended and restated certificate of incorporation authorized the issuance of 2.5 billion shares of Class A common stock and 355.0 million shares of Class B common stock. On March 1, 2021, all 169.5 million shares of the Company's then-outstanding Class B common stock, par value $0.0001 per share, were automatically converted into the same number of shares of Class A common stock, par value $0.0001 per share, pursuant to the terms of the Company’s amended and restated certificate of incorporation. No additional shares of Class B common stock will be issued following such conversion.

The shares of Class A common stock and Class B common stock were identical prior to the conversion, except with respect to voting, converting, and transfer rights. Prior to the conversion, each share of Class B common stock was entitled to cast ten votes per share on any matter submitted to a vote of the Company’s stockholders. As a result of the conversion, all former holders of shares of Class B common stock are now holders of shares of Class A common stock, which is entitled to only one vote per share on all matters subject to a stockholder vote. Class A and Class B common stock are referred to as common stock throughout the notes to the consolidated financial statements, unless otherwise indicated. Holders of common stock are entitled to receive any dividends as may be declared from time to time by the board of directors.
Prior to the conversion, shares of Class B common stock were convertible to Class A common stock at any time at the option of the stockholder, and shares of Class B common stock would automatically convert to Class A common stock upon the following: (i) sale or transfer of such share of Class B common stock; (ii) the death of the Class B common stockholder (or nine months after the date of death if the stockholder is one of the Company’s founders); and (iii) on the final conversion date, defined as the earlier to occur following an IPO of (a) the first trading day on or after the date on which the outstanding shares of Class B common stock represented less than 10% of the then outstanding Class A and Class B common stock; (b) September 15, 2027, which is the seventh anniversary of the effectiveness of the registration statement filed in connection with the IPO; or (c) the date specified by a vote of the holders of a majority of the outstanding shares of Class B common stock, voting as a single class.

In addition, on March 3, 2021, the Company filed a certificate with the Secretary of State of the State of Delaware effecting the retirement of the shares of Class B common stock that were issued but no longer outstanding following the conversion. Upon the effectiveness of the certificate, the Company’s total number of authorized shares of capital stock was reduced by the retirement of 169.5 million shares of Class B common stock.

The Company had reserved shares of common stock for future issuance as follows (in thousands):

January 31, 2023January 31, 2022
2012 Equity Incentive Plan:
Options outstanding35,212 42,043 
Restricted stock units outstanding2,521 4,530 
2020 Equity Incentive Plan:
Options outstanding642 — 
Restricted stock units outstanding13,039 5,082 
Shares available for future grants52,989 45,446 
2020 Employee Stock Purchase Plan:
Shares available for future grants11,046 8,209 
Total shares of common stock reserved for future issuance115,449 105,310 

In February 2020, certain third parties unaffiliated with the Company commenced an offer to purchase existing outstanding shares of the Company’s Class B common stock from certain equity holders at a price of $38.77 per share. The Company was not a party to this transaction. The transaction was completed in March 2020, and an aggregate of 8.6 million shares of the Company’s Class B common stock were transferred to these third parties.

Equity Incentive Plans—In 2012, the Company’s board of directors approved the adoption of the 2012 Equity Incentive Plan (2012 Plan). The 2012 Plan provides for the grant of stock-based 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. No further stock-based awards will be granted under the 2012 Plan. With the establishment of the 2020 Equity Incentive Plan (2020 Plan) as further discussed below, upon the expiration, forfeiture, cancellation, or reacquisition of any shares of common stock underlying outstanding stock-based awards granted under the 2012 Plan, an equal number of shares of Class A common stock will become available for grant under the 2020 Plan. On March 1, 2021, all shares of the Company’s then-outstanding Class B common stock were automatically converted into the same number of shares of Class A common stock. As a result of this conversion, options and RSUs that were previously denominated in shares of Class B common stock and issued under the 2012 Plan remained unchanged, except that they represent the right to receive shares of Class A common stock.
In September 2020, the Company’s board of directors adopted, and its stockholders approved, the 2020 Plan, which became effective in connection with the IPO. The 2020 Plan provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, RSU awards, performance awards and other forms of equity compensation (collectively, equity awards). A total of 34.1 million shares of the Company’s Class A common stock have been reserved for issuance under the 2020 Plan in addition to (i) any annual automatic evergreen increases in the number of shares of Class A common stock reserved for issuance under the 2020 Plan and (ii) upon the expiration, forfeiture, cancellation, or reacquisition of any shares of Class B common stock underlying outstanding stock awards granted under the 2012 Plan, an equal number of shares of Class A common stock, such number of shares not to exceed 78.8 million. On February 1, 2022, the shares available for future grants under the 2020 Plan were automatically increased by 15.6 million shares pursuant to the provision described in the preceding sentence.

In September 2020, the Company’s board of directors adopted, and its stockholders approved, the 2020 Employee Stock Purchase Plan (2020 ESPP), which became effective in connection with the IPO. The 2020 ESPP authorizes the issuance of shares of common stock pursuant to purchase rights granted to employees. A total of 5.7 million shares of the Company’s Class A common stock have been reserved for future issuance under the 2020 ESPP, in addition to any annual automatic evergreen increases in the number of shares of Class A common stock reserved for future issuance under the 2020 ESPP. On February 1, 2022, the shares available for future grants under the 2020 ESPP were automatically increased by 3.1 million shares pursuant to the provision described in the preceding sentence. The price at which Class A common stock is purchased under the 2020 ESPP is equal to 85% of the fair market value of a share of the Company’s Class A common stock on the first or last day of the offering period, whichever is lower. Offering periods are generally six months long and begin on 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.

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 and activity regarding shares available for grant under the Plans during the fiscal years ended January 31, 2023, 2022, and 2021 is as follows:
Shares
Available for Grant
(in thousands)		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, 2020
412 80,903 $6.21 8.6$1,546,313 
Shares authorized54,970—
Shares ceased to be available for issuance under the 2012 Plan(15,696)—
Options granted(877)877$34.83 
Options exercised—(13,799)$3.90 
Options canceled3,406(3,406)$7.04 
Repurchase of unvested common stock40—
RSUs granted(9,553)—
RSUs forfeited168—
Balance—January 31, 2021
32,87064,575$7.04 7.7$17,138,896 
Shares authorized14,397—
Options exercised—(20,903)$6.08 
Options canceled1,629(1,629)$6.80 
RSUs granted(4,026)—
RSUs forfeited576—
Balance—January 31, 2022
45,44642,043$7.53 6.9$11,283,299 
Shares authorized15,619—
Options granted(642)642$207.56 
Options exercised—(6,118)$6.50 
Options canceled713(713)$8.02 
RSUs granted(10,788)—
Shares withheld related to net share settlement of RSUs1,149—
RSUs forfeited1,492—
Balance—January 31, 2023
52,98935,854$11.27 5.9$5,237,549 
Vested and exercisable as of January 31, 2023
30,261$8.20 5.8$4,492,574 

No options were granted during the fiscal year ended January 31, 2022. The weighted-average grant-date fair value of options granted during the fiscal years ended January 31, 2023 and 2021 was $101.66 and $22.67, respectively. The intrinsic value of options exercised during the fiscal years ended January 31, 2023, 2022, and 2021 was $1.0 billion, $5.7 billion, and $2.0 billion, respectively. The aggregate grant-date fair value of options that vested during the fiscal years ended January 31, 2023, 2022, and 2021 was $79.1 million, $81.0 million, and $90.9 million, respectively.

Early Exercised Stock Options—Common stock purchased pursuant to an early exercise of stock options is not deemed to be outstanding for accounting purposes until those shares vest. The consideration received for an exercise of an option is considered to be a deposit of the exercise price and the related dollar amount is recorded in other liabilities on the consolidated balance sheets. The shares issued upon the early exercise of these unvested stock option awards, which are reflected as exercises in the stock option activity table above, are considered to be legally issued and outstanding on the date of exercise. Upon termination of service, the Company may repurchase unvested shares acquired through the early exercise of stock options at a price equal to the price per share paid upon the exercise of such options. Shares subject to repurchase as a result of early exercised options were not material as of each January 31, 2023 and 2022.
RSUs—In March 2020, the Company began granting more RSUs than options to its employees and non-employee directors. RSUs granted prior to the IPO had both service-based and performance-based vesting conditions. 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. The performance-based vesting condition is satisfied on the earlier of (i) the effective date of a registration statement of the Company filed under the Securities Act for the sale of the Company’s common stock or (ii) immediately prior to the closing of a change in control of the Company. Both events were not deemed probable until consummated, and therefore, stock-based compensation related to these RSUs remained unrecognized prior to the effectiveness of the IPO. Upon the effectiveness of the IPO in September 2020, the performance-based vesting condition was satisfied, and therefore, the Company recognized cumulative stock-based compensation of $55.5 million using the accelerated attribution method for the portion of the RSU awards for which the service-based vesting condition has been fully or partially satisfied. RSUs granted after the IPO do not contain the performance-based vesting condition described above, and the related stock-based compensation is recognized on a straight-line basis over the requisite service period.

A summary of RSU activity during the fiscal years ended January 31, 2023, 2022, and 2021 is as follows:

Number of Shares
(in thousands)		Weighted-Average Grant Date Fair Value
per Share
Unvested Balance—January 31, 2020
— $— 
Granted9,553 $123.71 
Vested(37)$50.71 
Forfeited(168)$64.13 
Unvested Balance—January 31, 2021
9,348 $125.06 
Granted4,026 $250.46 
Vested(3,186)$109.44 
Forfeited(576)$169.74 
Unvested Balance—January 31, 2022
9,612 $180.08 
Granted10,788 $180.65 
Vested(3,348)$165.30 
Forfeited(1,492)$206.02 
Unvested Balance—January 31, 2023
15,560 $181.17 

Restricted Common Stock—Restricted common stock is not deemed to be outstanding for accounting purposes until it vests.

From time to time, the Company has granted restricted common stock outside of the Plans. A summary of restricted common stock activity outside of the Plans during the fiscal years ended January 31, 2023, 2022, and 2021 is as follows:
Outside of the Plans
Number of Shares
(in thousands)		Weighted-Average Grant Date Fair Value
per Share
Unvested Balance—January 31, 2020
1,604 $2.06 
Vested(862)$2.03 
Unvested Balance—January 31, 2021
742 $2.11 
Vested(362)$2.10 
Unvested Balance—January 31, 2022
380 $2.11 
Granted409 $229.13 
Vested(361)$2.10 
Unvested Balance—January 31, 2023
428 $219.26 
As discussed in Note 7, during the fiscal year ended January 31, 2023, in connection with the Streamlit business combination, the Company issued to Streamlit’s three founders a total of 0.4 million shares of the Company’s common stock outside of the Plans in exchange for a portion of their Streamlit stock. These shares are subject to vesting agreements pursuant to which the shares will vest over three years, subject to each founder’s continued employment with the Company or its affiliates. The $93.7 million fair value of these shares are accounted for as post-combination stock-based compensation over the requisite service period of three years. As of January 31, 2023, all 0.4 million shares remained unvested.

In December 2017, the Company issued 1.3 million shares of restricted common stock outside of the Plans to an employee at $1.59 per share, payable by a promissory note. The promissory note accrued interest at the lower of 2.11% per annum or the maximum interest rate on commercial loans permissible by law and was partially secured by the underlying restricted stock. The promissory note was considered nonrecourse from an accounting standpoint, and therefore the note was not reflected in the consolidated balance sheets and consolidated statements of stockholders’ equity (deficit). Rather, the note and the share purchases were accounted for as stock option grants, with the related stock-based compensation measured using the Black-Scholes option-pricing model and recognized over the vesting period of five years. The associated shares are legally outstanding and included in the balance of Class B common stock outstanding in the consolidated financial statements during the periods in which Class B common stock was outstanding and in the balance of Class A common stock outstanding thereafter. None of these shares of restricted common stock were considered vested before the underlying promissory note was repaid. In May and June 2020, the outstanding principal amount and all accrued interest under this promissory note of $2.1 million was repaid, and the 1.3 million shares of restricted common stock were fully vested as of January 31, 2023.

Stock-Based Compensation—The following table summarizes the assumptions used in estimating the fair value of stock options granted to employees and a non-employee director during the fiscal years ended January 31, 2023 and 2021:

Fiscal Year Ended January 31,
20232021
Expected term (in years)6.06.0
Expected volatility50.0 %37.2 %
Risk-free interest rate1.8 %1.0 %
Expected dividend yield— %— %

No stock options were granted during the fiscal year ended January 31, 2022.

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. 

Expected volatility—Prior to fiscal 2023, the Company performed an analysis of using the average volatility of a peer group of representative public companies with sufficient trading history over the expected term to develop an expected volatility assumption. During the fiscal year ended January 31, 2023, the Company began using the average volatility of its Class A common stock and the stocks of a peer group of representative public companies 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—Prior to the completion of the IPO, the board of directors considered numerous objective and subjective factors to determine the fair value of the Company’s common stock at each meeting in which awards were approved. The factors considered included, but were not limited to: (i) the results of contemporaneous independent third-party valuations of the Company’s common stock; (ii) the prices, rights, preferences, and privileges of the Company’s redeemable convertible preferred stock relative to those of its common stock; (iii) the lack of marketability of the Company’s common stock; (iv) actual operating and financial results; (v) current business conditions and projections; (vi) the likelihood of achieving a liquidity event, such as an initial public offering or sale of the Company, given prevailing market conditions; and (vii) precedent transactions involving the Company’s shares. Since the completion of the IPO, 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 employee stock purchase rights granted under the 2020 ESPP during the fiscal years ended January 31, 2023, 2022, and 2021:

Fiscal Year Ended January 31,
202320222021
Expected term (in years)0.50.50.5
Expected volatility
58.9% - 74.8%
37.3% - 49.5%
60.1 %
Risk-free interest rate
0.9% - 3.8%
0.1 %0.1 %
Expected dividend yield— %— %— %

Stock-based compensation included in the consolidated statements of operations was as follows (in thousands):
Fiscal Year Ended January 31,
202320222021
Cost of revenue$106,302 $87,336 $33,642 
Sales and marketing246,811 185,970 97,879 
Research and development407,524 232,867 99,223 
General and administrative100,896 98,922 70,697 
Stock-based compensation, net of amounts capitalized861,533 605,095 301,441 
Capitalized stock-based compensation29,417 24,174 2,072 
Total stock-based compensation$890,950 $629,269 $303,513 

As of January 31, 2023, total compensation cost related to unvested equity awards not yet recognized was $2.4 billion, which will be recognized over a weighted-average period of 2.9 years.
v3.23.1
Income Taxes
 12 Months Ended
Jan. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The components of loss before income taxes were as follows (in thousands):

Fiscal Year Ended January 31,
202320222021
U.S.$(851,538)$(717,208)$(544,700)
Foreign35,545 40,248 7,660 
Loss before income taxes$(815,993)$(676,960)$(537,040)
The provision for (benefit from) income taxes consists of the following (in thousands):

Fiscal Year Ended January 31,
202320222021
Current provision:
State$626 $288 $704 
Foreign7,571 3,417 1,388 
Deferred benefit:
Federal(21,647)— (28)
State(4,410)— (2)
Foreign(607)(717)— 
Provision for (benefit from) income taxes$(18,467)$2,988 $2,062 

The effective income tax rate differs from the federal statutory income tax rate applied to the loss before income taxes due to the following (in thousands):

Fiscal Year Ended January 31,
202320222021
Income tax benefit computed at federal statutory rate$(171,359)$(142,162)$(112,778)
State taxes, net of federal benefit14,948 35,360 14,818 
Research and development credits(58,136)(142,544)(56,633)
Stock-based compensation(71,295)(898,234)(246,363)
Change in valuation allowance213,532 1,159,276 391,659 
IRC Section 59A waived deductions49,476 — — 
Other4,367 (8,708)11,359 
Provision for (benefit from) income taxes$(18,467)$2,988 $2,062 

A valuation allowance has been recognized to offset the Company’s deferred tax assets, as necessary, by the amount of any tax benefits that, based on evidence, are not expected to be realized. As of January 31, 2023 and 2022, the Company believes it is more likely than not that its U.S. and U.K. deferred tax assets will not be fully realizable and continues to maintain a full valuation allowance against these net deferred tax assets.
Significant components of the Company’s deferred tax assets and deferred tax liabilities are shown below (in thousands):

January 31, 2023January 31, 2022
Deferred tax assets:
Net operating losses carryforwards$1,567,135 $1,522,969 
Tax credit carryforwards274,690 215,934 
Capitalized research and development147,328 — 
Stock-based compensation123,408 88,743 
Operating lease liabilities55,079 48,682 
Net unrealized losses on strategic investments5,669 — 
Other46,361 79,141 
Total deferred tax assets2,219,670 1,955,469 
Less: valuation allowance(2,100,594)(1,858,730)
Net deferred tax assets119,076 96,739 
Deferred tax liabilities:
Deferred commissions(31,940)(28,368)
Intangible assets(39,426)(15,692)
Operating lease right-of-use assets(53,829)(48,307)
Net unrealized gains on strategic investments— (6,399)
Other(2,358)— 
Total deferred tax liabilities(127,553)(98,766)
Net deferred tax liabilities$(8,477)$(2,027)

The valuation allowance was $2.1 billion and $1.9 billion as of January 31, 2023 and 2022, respectively, primarily relating to U.S. federal and state net operating loss carryforwards and tax credit carryforwards. The valuation allowance increased $241.9 million during the fiscal year ended January 31, 2023, primarily due to increased U.S. federal and state net operating loss carryforwards, tax credit carryforwards, capitalized research and development, and stock-based compensation. The valuation allowance increased $1.3 billion and $434.5 million during the fiscal years ended January 31, 2022 and 2021, respectively, primarily due to increased U.S. federal and state net operating loss carryforwards, tax credit carryforwards, deferred revenue, and stock-based compensation.

As of January 31, 2023, the Company had U.S. federal, state, and foreign net operating loss carryforwards of $5.8 billion, $5.1 billion, and $159.0 million, respectively. Of the $5.8 billion U.S. federal net operating loss carryforwards, $5.7 billion may be carried forward indefinitely with utilization limited to 80% of taxable income, and the remaining $0.1 billion will begin to expire in 2032. The state net operating loss carryforwards begin to expire in 2023. Of the $159.0 million foreign net operating loss carryforwards, $150.2 million may be carried forward indefinitely, and the remaining $8.8 million will begin to expire in 2027. As of January 31, 2023, the Company also had federal and state tax credits of $254.5 million and $112.5 million, respectively. The federal tax credit carryforwards will expire beginning in 2032 if not utilized. The state tax credit carryforwards do not expire. Utilization of the Company’s net operating loss and tax credit carryforwards may be subject to annual limitation due to the ownership change limitations provided by the Internal Revenue Code and similar state provisions. Such an annual limitation could result in the expiration of the net operating loss and tax credit carryforwards before utilization.

Foreign withholding taxes have not been provided for the cumulative undistributed earnings of the Company’s foreign subsidiaries as of January 31, 2023 due to the Company’s intention to permanently reinvest such earnings. Determination of the amount of unrecognized deferred tax liability related to these earnings is not practicable.
The following table shows the changes in the gross amount of unrecognized tax benefits (in thousands):

Fiscal Year Ended January 31,
202320222021
Beginning balance$57,715 $19,349 $4,057 
Increases based on tax positions during the prior period1,816 20 35 
Increases based on tax positions during the current period15,649 38,346 15,257 
Ending balance$75,180 $57,715 $19,349 

There were no interest and penalties associated with unrecognized income tax benefits for each of the fiscal years ended January 31, 2023, 2022, and 2021.

Although it is reasonably possible that certain unrecognized tax benefits may increase or decrease within the next 12 months due to tax examination changes, settlement activities, or the impact on recognition and measurement considerations related to the results of published tax cases or other similar activities, the Company does not anticipate any significant changes to unrecognized tax benefits over the next 12 months.

The Company files income tax returns in the U.S. federal jurisdiction, various state jurisdictions, and in various international jurisdictions. Tax years 2012 and forward generally remain open for examination for federal and state tax purposes. Tax years 2017 and forward generally remain open for examination for foreign tax purposes. To the extent utilized in future years’ tax returns, net operating loss carryforwards at January 31, 2023 and 2022 will remain subject to examination until the respective tax year is closed.

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (the 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 share repurchases. The Company is currently evaluating the various provisions of the Inflation Act and does not anticipate the impact, if any, will be material to the Company, including in connection with the Company’s stock repurchase program.
v3.23.1
Net Loss per Share
 12 Months Ended
Jan. 31, 2023
Earnings Per Share [Abstract]  
Net Loss per Share Net Loss per Share
The following table presents the calculation of basic and diluted net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders (in thousands, except per share data):

Fiscal Year Ended January 31,
202320222021
Numerator:
Net loss$(797,526)$(679,948)$(539,102)
Less: net loss attributable to noncontrolling interest(821)— — 
Net loss attributable to Snowflake Inc. Class A and Class B common stockholders$(796,705)$(679,948)$(539,102)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic and diluted318,730 300,273 141,613 
Net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic and diluted$(2.50)$(2.26)$(3.81)

The following potentially dilutive securities were excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders for the periods presented because the impact of including them would have been anti-dilutive (in thousands):
Fiscal Year Ended January 31,
202320222021
Stock options35,854 42,043 64,575 
RSUs15,560 9,612 9,349 
Unvested restricted common stock and early exercised stock options446 426 988 
Employee stock purchase rights under the 2020 ESPP265 116 214 
Total52,125 52,197 75,126 
v3.23.1
Related Party Transactions
 12 Months Ended
Jan. 31, 2023
Related Party Transactions [Abstract]  
Related Party Transactions Related Party TransactionsIn December 2020, as a minority investor, the Company made a strategic investment of approximately $20.0 million by purchasing non-marketable equity securities issued by a privately-held company (the Strategic Investee), which is partially owned by two of the holders of more than 5% of the Company’s capital stock as of the time of investment, and two members of the Company’s board of directors are also members of the board directors of this privately-held company. In addition, the Company has entered into immaterial customer agreements and vendor contracts with the Strategic Investee since fiscal 2016 and fiscal 2018, respectively. In November 2021, the Strategic Investee raised additional funding in an orderly transaction, at which time it was no longer considered a related party of the Company.
v3.23.1
Subsequent Events
 12 Months Ended
Jan. 31, 2023
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Business Combinations

On February 10, 2023, the Company acquired (i) all outstanding stock of Mountain US Corporation (f/k/a Mobilize.net Corporation), a privately-held company which provides a premier suite of tools for efficiently migrating databases to the Data Cloud, for approximately $67 million in cash, net of cash and cash equivalents acquired, and (ii) all outstanding stock of LeapYear Technologies, Inc., a privately-held company which provides a differential privacy platform, for approximately $59 million in cash, net of cash and restricted cash acquired. The Company is currently evaluating the purchase price allocation for these transactions.

Stock Repurchase Program

In February 2023, the Company’s board of directors authorized a stock repurchase program of up to $2.0 billion of its 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 program is funded using the Company’s working capital and will expire in March 2025.

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.
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Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Jan. 31, 2023
Accounting Policies [Abstract]  
Fiscal Year
Fiscal Year

The Company’s fiscal year ends on January 31. For example, references to fiscal 2023 refer to the fiscal year ended January 31, 2023.
Basis of Presentation Basis of PresentationThe accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP).
Principles of Consolidation
Principles of Consolidation

The 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 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 InformationThe 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 for purposes of making operating decisions, assessing financial performance, and allocating resources.
Use of Estimates
Use of Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Such estimates include, but are not limited to, stand-alone selling prices (SSP) for each distinct performance obligation, internal-use software development costs, the expected period of benefit for deferred commissions, the fair value of intangible assets acquired in business combinations, the useful lives 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.
Concentration of Credit Risk Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash, cash equivalents, investments in marketable securities, restricted cash, accounts receivable, and deliverable foreign currency forward contracts. The Company maintains its cash, cash equivalents, investments in marketable securities, restricted cash and deliverable foreign currency forward contracts with high-quality financial institutions that have investment-grade ratings. For accounts receivable, the Company is exposed to credit risk in the event of nonpayment by customers up to the amounts recorded on the consolidated balance sheets. The Company manages its accounts receivable credit risk through ongoing credit evaluation of its customers' financial conditions. The Company generally does not require collateral from its customers.
Foreign Currency
Foreign Currency

The reporting currency of the Company is the United States dollar. The functional currency of the Company’s foreign subsidiaries is the U.S. dollar or the Euro, depending on the nature of the subsidiaries’ activities. Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured to the functional currency at period-end exchange rates. Foreign currency transaction gains and losses resulting from remeasurement are recognized in other income (expense), net in the consolidated statements of operations, and have not been material for any of the periods presented.

For those subsidiaries with non-U.S. dollar functional currencies, assets and liabilities are translated into U.S. dollars at period-end exchange rates. Revenue and expenses are translated at the average exchange rates during the period. Equity transactions are translated using historical exchange rates. The resulting translation adjustments are recorded in accumulated other comprehensive income (loss) as a component of stockholders’ equity (deficit).
Revenue Recognition, Cost of Revenue, Deferred Commissions, Deferred Revenue
Revenue Recognition

The Company accounts for revenue in accordance with Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606) for all periods presented.

The Company delivers its platform over the internet as a service. Customers choose to consume the platform under either capacity arrangements, in which customers commit to a certain amount of consumption at specified prices, or under on-demand arrangements, in which the Company charges for use of the platform monthly in arrears. Under capacity arrangements, from which a majority of revenue is derived, the Company typically bills its customers annually in advance of their consumption. Revenue from on-demand arrangements typically relates to initial consumption as part of customer onboarding and, to a lesser extent, overage consumption beyond a customer’s contracted usage amount or following the expiration of a customer’s contract. Revenue from on-demand arrangements represented approximately 2%, 3%, and 4% of the Company’s revenue for the fiscal years ended January 31, 2023, 2022, and 2021, respectively. The Company recognizes revenue as customers consume compute, storage, and data transfer resources under either of these arrangements. In limited instances, customers pay an annual deployment fee to gain access to a dedicated instance of a virtual private deployment. Deployment fees are recognized ratably over the contract term.
Customers do not have the contractual right to take possession of the Company’s platform. Pricing for the platform includes embedded support services, data backup and disaster recovery services, as well as future updates, when and if available, offered during the contract term.

Customer contracts for capacity typically have a term of one to four years. To the extent customers enter into such contracts and either consume the platform in excess of their capacity commitments or continue to use the platform after expiration of the contract term, they are charged for their incremental consumption. In many cases, customer contracts permit customers to roll over any unused capacity to a subsequent order, generally on the purchase of additional capacity. Customer contracts are generally non-cancelable during the contract term, although customers can terminate for breach if the Company materially fails to perform. For those customers who do not have a capacity arrangement, the Company’s on-demand arrangements generally have a monthly stated contract term and can be terminated at any time by either the customer or the Company.

For compute resources, consumption is based on the type of compute resource used and the duration of use or, for some features, the volume of data processed. For storage resources, consumption for a given customer is based on the average terabytes per month of all of such customer’s data stored in the platform. For data transfer resources, consumption is based on terabytes of data transferred, the public cloud provider used, and the region to and from which the transfer is executed.

The Company’s revenue also includes professional services and other revenue, which consists primarily of consulting, on-site technical solution services, and training related to the platform. Professional services revenue is recognized over time based on input measures, including time and materials costs incurred relative to total costs, with consideration given to output measures, such as contract deliverables, when applicable. Other revenue consists primarily of fees from customer training delivered on-site or through publicly available classes.

The Company determines revenue recognition in accordance with ASC 606 through the following five steps:

1) Identify the contract with a customer. The Company considers the terms and conditions of the contracts and the Company’s customary business practices in identifying its contracts under ASC 606. The Company determines it has a contract with a customer when the contract has been approved by both parties, it can identify each party’s rights regarding the services to be transferred and the payment terms for the services, it has determined the customer to have the ability and intent to pay, and the contract has commercial substance. At contract inception, the Company evaluates whether two or more contracts should be combined and accounted for as a single contract and whether the combined or single contract includes more than one performance obligation. The Company applies judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s payment history or, in the case of a new customer, credit and financial information pertaining to the customer.

2) Identify the performance obligations in the contract. Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract. The Company treats consumption of its platform for compute, storage, and data transfer resources as one single performance obligation because they are consumed by customers as a single, integrated offering. The Company does not make any one of these resources available for consumption without the others. Instead, each of compute, storage, and data transfer work together to drive consumption on the Company’s platform. The Company treats its virtual private deployments for customers, professional services, on-site technical solution services, and training each as a separate and distinct performance obligation. Some customers have negotiated an option to purchase additional capacity at a stated discount. These options generally do not provide a material right as they are priced at the Company’s SSP, as described below, as the stated discounts are not incremental to the range of discounts typically given.

3) Determine the transaction price. The transaction price is determined based on the consideration the Company expects to receive in exchange for transferring services to the customer. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue recognized under the contract will not occur. Variable consideration is estimated based on expected value, primarily relying on the Company’s history. In certain situations, the Company may also use the most likely amount as the basis of its estimate. None of the Company’s contracts contain a significant financing component. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental entities (e.g., sales and other indirect taxes).
4) Allocate the transaction price to performance obligations in the contract. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation on a relative SSP basis. The determination of a relative SSP for each distinct performance obligation requires judgment. The Company determines SSP for performance obligations based on an observable standalone selling price when it is available, as well as other factors, including the overall pricing objectives, which take into consideration market conditions and customer-specific factors, including a review of internal discounting tables, the services being sold, the volume of capacity commitments, and other factors. The observable standalone selling price is established based on the price at which products and services are sold separately. If an SSP is not observable through past transactions, the Company estimates it using available information including, but not limited to, market data and other observable inputs.

5) Recognize revenue when or as the Company satisfies a performance obligation. Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised service to a customer. Revenue is recognized when control of the services is transferred to the customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those services. The Company determined an output method to be the most appropriate measure of progress because it most faithfully represents when the value of the services is simultaneously received and consumed by the customer, and control is transferred. Virtual private deployment fees are recognized ratably over the term of the deployment as the deployment service represents a stand-ready performance obligation provided throughout the deployment term.
Cost of Revenue

Cost of revenue consists primarily of (i) third-party cloud infrastructure expenses incurred in connection with the customers’ use of the Snowflake platform and deploying and maintaining the platform on public clouds, including different regional deployments, (ii) personnel-related costs associated with the Company’s customer support team, engineering team that is responsible for maintaining the Company's service availability and security of its platform, and professional services and training departments, including salaries, benefits, bonuses, and stock-based compensation, and (iii) costs of contracted third-party partners for professional services. Cost of revenue also includes amortization of internal-use software development costs, amortization of acquired developed technology intangible assets, expenses associated with software and subscription services dedicated for use by the Company’s customer support team and engineering team responsible for maintaining the Company's service, and allocated overhead.
Deferred CommissionsThe Company capitalizes incremental costs of obtaining a contract with a customer if such costs are recoverable. Such costs consist primarily of (i) sales commissions tied to new customer or customer expansion contracts earned by the Company’s sales force and the associated payroll taxes and fringe benefits, and (ii) certain referral fees earned by third parties. These costs are capitalized and then amortized over a period of benefit that is determined to be five years. The Company determined the period of benefit by taking into consideration the length of terms in its customer contracts, life of the technology, and other factors. Amounts expected to be recognized within one year of the balance sheet date are recorded as deferred commissions, current, and the remaining portion is recorded as deferred commissions, non-current, on the consolidated balance sheets. Amortization expense is included in sales and marketing expenses in the consolidated statements of operations. As a result of modifications to the Company’s sales compensation plan during the fiscal year ended January 31, 2021, a portion of the sales commissions paid to the sales force is earned based on the rate of the customers’ consumption of the Company’s platform, in addition to a portion of the commissions earned upon the origination of the new customer or customer expansion contract. Sales commissions tied to customers’ consumption are not considered incremental costs and are expensed in the same period as they are earned. Deferred commissions are periodically analyzed for impairment.
Deferred Revenue

The Company records deferred revenue when the Company receives customer payments in advance of satisfying the performance obligations on the Company’s contracts. Capacity arrangements are generally billed and paid in advance of satisfaction of performance obligations, and the Company’s on-demand arrangements are billed in arrears generally on a monthly basis. Deferred revenue also includes amounts that have been invoiced but not yet collected, classified as accounts receivable, when the Company has an enforceable right to invoice for capacity arrangements. Deferred revenue relating to the Company’s capacity arrangements that have a contractual expiration date of less than 12 months are classified as current. For capacity arrangements that have a contractual expiration date of greater than 12 months, the Company apportions deferred revenue between current and non-current based upon an assumed ratable consumption of these capacity arrangements over the entire term of the arrangement, even though it does not recognize revenue ratably over the term of the contract as customers have flexibility in their consumption and revenue is generally recognized on consumption. In addition, in many cases, the Company’s customer contracts also permit customers to roll over any unused capacity to a subsequent order, generally on the purchase of additional capacity. As such, the current or non-current classification of deferred revenue may not reflect the actual timing of revenue recognition.
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.
Allocation of Overhead Costs
Allocation of Overhead Costs

Overhead costs that are not substantially dedicated for use by a specific functional group are allocated based on headcount. Such costs include costs associated with office facilities, depreciation of property and equipment, information technology (IT) and general recruiting related expenses and other expenses, such as software and subscription services.
Research and Development Costs
Research and Development Costs

Research and development costs are expensed as incurred, unless they qualify as internal-use software development costs. Research and development expenses consist primarily of personnel-related expenses associated with the Company’s research and development staff, including salaries, benefits, bonuses, and stock-based compensation. Research and development expenses also include contractor or professional services fees, third-party cloud infrastructure expenses incurred in developing the Company’s platform, expenses associated with computer equipment, software and subscription services dedicated for use by the Company’s research and development organization, and allocated overhead.
Advertising Costs Advertising CostsAdvertising costs, excluding expenses associated with the Company’s user conferences, are expensed as incurred and are included in sales and marketing expenses in the consolidated statements of operations.
Income Taxes
Income Taxes

The Company is subject to income taxes in the United States and numerous foreign jurisdictions. Significant judgment is required in determining its provision for income taxes and deferred tax assets and liabilities, including evaluating uncertainties in the application of accounting principles and complex tax laws.

The Company records a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Under this method, the Company recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts for financial reporting purposes and the tax bases of assets and liabilities, as well as for loss and tax credit carryforwards. The deferred assets and liabilities are measured using the statutorily enacted tax rates anticipated to be in effect when those tax assets and liabilities are expected to be realized or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date.

A valuation allowance is established if, based upon the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company considers all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income in assessing the need for a valuation allowance.

The Company’s tax positions are subject to income tax audits by multiple tax jurisdictions throughout the world. The Company recognizes the tax benefit of an uncertain tax position only if it is more likely than not the position will be sustainable upon examination by the taxing authority, including resolution of any related appeals or litigation processes. This evaluation is based on all available evidence and assumes that the tax authorities have full knowledge of all relevant information concerning the tax position. The tax benefit recognized is measured as the largest amount of benefit which is more likely than not (greater than 50% likely) to be realized upon ultimate settlement with the taxing authority. The Company recognizes interest accrued and penalties related to unrecognized tax benefits in income tax expense. The Company makes adjustments to these reserves in accordance with the income tax guidance when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final tax outcome of these matters is different from the amounts recorded, such differences may affect the provision for income taxes in the period in which such determination is made and could have a material impact on the Company’s financial condition and operating results.
Stock-Based Compensation
Stock-Based Compensation

The Company measures and recognizes compensation expense for all stock-based awards, including stock options, restricted stock units (RSUs), restricted common stock granted to employees, non-employee directors, and other service providers, and stock purchase rights granted under the Employee Stock Purchase Plan (ESPP Rights) to employees, based on the estimated fair value of the awards on the date of grant. The fair value of each stock option granted and ESPP Rights is estimated using the Black-Scholes option-pricing model. The determination of the grant-date fair value using an option-pricing model is affected by the estimated fair value of the Company’s common stock as well as assumptions regarding a number of other complex and subjective variables. These variables include expected stock price volatility over an expected term, actual and projected employee stock option exercise behaviors, the risk-free interest rate for an expected term, and expected dividends. The fair value of each RSU is based on the fair value of the Company’s common stock on the date of grant.

Stock-based compensation is generally recognized on a straight-line basis over the requisite service period. For awards with both a service-based vesting condition and a performance-based vesting condition, the stock-based compensation is recognized using an accelerated attribution method from the time it is deemed probable that the vesting condition will be met through the time the service-based vesting condition has been achieved. If an award contains a provision whereby vesting is accelerated upon a change in control, the Company recognizes stock-based compensation expense on a straight-line basis, as a change in control is considered to be outside of the Company’s control and is not considered probable until it occurs. Forfeitures are accounted for in the period in which they occur.
During the fiscal year ended January 31, 2023, the Company began funding withholding taxes due upon the vesting of employee RSUs in certain jurisdictions by net share settlement, rather than its previous approach of selling shares of the Company’s common stock. The amount of withholding taxes related to net share settlement of employee RSUs is reflected as (i) a reduction to additional paid-in-capital, and (ii) cash outflows for financing activities when the payments are made. The shares withheld by the Company as a result of the net share settlement of RSUs are not considered issued and outstanding, and do not impact the calculation of basic net income (loss) per share attributable to Snowflake Inc. Class A and Class B common stockholders.
Net Loss Per Share Attributable to Snowflake Inc. Class A and Class B Common Stockholders
Net Loss Per Share Attributable to Snowflake Inc. Class A and Class B Common Stockholders

As discussed in Note 12, on March 1, 2021, all shares of the Company’s then-outstanding Class B common stock were automatically converted into the same number of shares of Class A common stock pursuant to the terms of the Company’s amended and restated certificate of incorporation.

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 considered unvested common stock and, prior to the automatic conversion of all of its outstanding redeemable convertible preferred stock into Class B common stock in connection with its initial public offering (IPO) in September 2020, all series of its redeemable convertible preferred 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. Under the two-class method, net loss is not allocated to the redeemable convertible preferred stock as the holders of such stock do not have a contractual obligation to share in the Company’s losses.

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. 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, redeemable convertible preferred stock, stock options, restricted common stock, RSUs, ESPP Rights, early exercised stock options, and common stock warrants 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 rights, including the liquidation and dividend rights, of the holders of Snowflake Inc. Class A and Class B common stock are identical, except with respect to voting, converting, and transfer rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net loss per share attributable to Snowflake Inc. common stockholders are, therefore, the same for both Snowflake Inc. Class A and Class B common stock on both individual and combined basis.
Cash and Cash Equivalents and Restricted Cash
Cash and Cash Equivalents

The Company considers all highly liquid investments with original or remaining maturities of three months or less when purchased to be cash equivalents.

Restricted Cash
Restricted cash primarily consists of collateralized letters of credit established in connection with lease agreements for the Company’s facilities. Restricted cash is included in current assets for leases that expire within one year and is included in non-current assets for leases that expire more than one year from the balance sheet date.
Investments and Strategic Investments
Investments

The Company’s investments in marketable debt securities have been classified and accounted for as available-for-sale and are recorded at estimated fair value. The Company classifies its marketable debt securities as either short-term or long-term at each balance sheet date based on each instrument’s underlying contractual maturity date. Short-term investments are investments with original maturities of less than one year when purchased. Purchase premiums and discounts are amortized or accreted using the effective interest method over the life of the related security and such amortization and accretion are included in interest income in the consolidated statements of operations.
For available-for-sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell or it is more likely than not that the Company will be required to sell the security before the recovery of its entire amortized cost basis. If either of these criteria is met, the security’s amortized cost basis is written down to fair value through other income (expense), net in the consolidated statements of operations. If neither of these criteria is met, the Company further assesses whether the decline in fair value below amortized cost is due to credit or non-credit related factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and any adverse conditions specifically related to the security, among other factors. Credit related unrealized losses are recognized as an allowance on the consolidated balance sheets with a corresponding charge in the other income (expense), net in the consolidated statements of operations. Non-credit related unrealized losses and unrealized gains on available-for-sale debt securities are included in accumulated other comprehensive income (loss).

Realized gains and losses are determined based on the specific identification method and are reported in other income (expense), net in the consolidated statements of operations.

Strategic Investments

The Company’s strategic investments consist of non-marketable equity and debt securities in privately-held companies and marketable equity securities in publicly-traded companies, in which the Company does not have a controlling interest or significant influence. Strategic investments are included in other assets on the consolidated balance sheets.

Non-marketable equity securities are recorded at cost and adjusted for observable transactions for the same or similar investments of the same issuer (referred to as the Measurement Alternative) or impairment. For these investments, the Company recognizes remeasurement adjustments, including upward and downward adjustments, and impairments, if any, in other income (expense), net in the consolidated statements of operations. Valuations of privately-held securities are inherently complex due to the lack of readily available market data and require the use of judgment. For example, determining whether an orderly transaction is for an identical or similar investment requires judgment based on the rights and obligations that are attached to the securities. In determining the estimated fair value of these investments, the Company uses the most recent data available to the Company.

Marketable equity securities are measured at fair value with changes in fair value recorded in other income (expense), net in the consolidated statements of operations.

Non-marketable debt securities are classified as available-for-sale and are recorded at their estimated fair value with changes in fair value recorded through accumulated other comprehensive income (loss).

Strategic investments are subject to periodic impairment analysis, which would involve an assessment of both qualitative and quantitative factors, including the investee’s financial metrics, market acceptance of the investee’s product or technology, and the rate at which the investee is using its cash. If the investment is considered impaired, the Company recognizes an impairment through other income (expense), net in the consolidated statements of operations and establishes a new carrying value for the investment.
Fair Value of Financial Instruments
Fair Value of Financial Instruments

The Company’s primary financial instruments include cash equivalents, investments in marketable securities, strategic investments, restricted cash, accounts receivable, accounts payable and accrued expenses. The carrying amounts of cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term nature. See Note 5 for information regarding the fair value of the Company’s investments in marketable securities and strategic investments.
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 non-marketable equity securities accounted for using the Measurement Alternative are recorded at fair value on a non-recurring basis and 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 Company’s marketable equity securities are recorded at fair value on a recurring basis and classified within Level 1 of the fair value hierarchy because they are valued using the quoted market price.
Derivative Financial Instruments
Derivative Financial Instruments

During the fiscal year ended January 31, 2023, the Company began using derivative financial instruments to manage its exposure to certain foreign currency exchange risks associated with certain intercompany balances denominated in currencies other than the U.S. dollar. These derivative financial instruments consist of deliverable foreign currency forward contracts with maturities of one month or less and are not designated as hedging instruments. As such, all changes in the fair value of these derivative instruments are recorded in other income (expense), net on the consolidated statements of operations, and are intended to offset the foreign currency transaction gains or losses associated with the underlying intercompany balances. The resulting derivative assets and liabilities are measured at fair value using Level 2 inputs and presented as prepaid expenses and other current assets and accrued expenses and other current liabilities, as applicable, on the consolidated balance sheets. Cash flows at settlement of such foreign currency forward contracts are classified as operating activities in the consolidated statement of cash flows.
Accounts Receivable, Net Accounts Receivable, NetAccounts receivable include billed and unbilled receivables, net of allowance for credit losses. Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The allowance for credit losses is estimated based on the Company’s assessment of the collectibility of accounts receivable by considering various factors, including the age of each outstanding invoice, the collection history of each customer, historical write-off experience, current economic conditions, and reasonable and supportable forecasts of future economic conditions over the life of the receivable. The Company assesses collectibility by reviewing accounts receivable on an aggregate basis when similar characteristics exist and on an individual basis when specific customers with collectibility issues are identified. Accounts receivable deemed uncollectible are charged against the allowance for credit losses when identified.
Internal-Use Software Development Costs
Internal-Use Software Development Costs

The Company capitalizes qualifying internal-use software development costs, primarily related to its cloud platform. 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 costs are included in property and equipment, net on the consolidated balance sheets. These costs are amortized over the estimated useful life of the software, which is three years, on a straight-line basis. The amortization of capitalized costs related to the Company’s platform applications is primarily included in cost of revenue in the consolidated statements of operations.
Property and Equipment, Net
Property and Equipment, Net

Property and equipment, net is stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful life of the related asset, ranging from generally three to seven years. Leasehold improvements are amortized over the shorter of estimated useful life or the remaining lease term. Expenses that improve an asset or extend its remaining useful life are capitalized. Costs of maintenance or repairs that do not extend the lives of the respective assets are charged to expenses as incurred.
Leases
Leases

The Company determines if an arrangement is or contains a lease at inception by evaluating various factors, including if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration and other facts and circumstances. Lease classification is determined at the lease commencement date. Operating leases are included in operating lease right-of-use assets, operating lease liabilities, current, and operating lease liabilities, non-current on the consolidated balance sheets. The Company did not have any material finance leases for all periods presented.

Right-of-use assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease payments consist primarily of the fixed payments under the arrangement, less any lease incentives. Variable lease payments are expensed as incurred and include certain non-lease components, such as maintenance and other services provided by the lessor to the extent the charges are variable. The Company uses an estimate of its incremental borrowing rate (IBR) based on the information available at the lease commencement date in determining the present value of lease payments, unless the implicit rate is readily determinable. In determining the appropriate IBR, the Company considers various factors, including, but not limited to, its credit rating, the lease term, and the currency in which the arrangement is denominated. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

The Company does not separate non-lease components from lease components for its facility asset portfolio. In addition, the Company does not recognize right-of-use assets and lease liabilities for short-term leases, which have a lease term of 12 months or less and do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. Lease cost for short-term leases is recognized on a straight-line basis over the lease term.

In addition, the Company subleases certain of its unoccupied facilities to third parties. Any impairment to the associated right-of-use assets, leasehold improvements, or other assets as a result of a sublease is recognized in the period the sublease is executed and recorded in the consolidated statements of operations. The Company recognizes sublease income on a straight-line basis over the sublease term. Sublease income is recorded as a reduction to the Company’s operating lease costs.
Business Combinations Business CombinationsThe Company applies a screen test to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction is accounted for as an asset acquisition or business combination. When the Company acquires a business, the purchase consideration is allocated to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated respective fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Critical estimates used in valuing certain intangible assets include, but are not limited to, time and resources required to recreate the assets acquired. These estimates are based on information obtained from the management of the acquired companies, the Company’s assessment of the information, and historical experience. The Company’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period of up to one year from the acquisition date, the Company may record adjustments to the preliminary fair value of the assets acquired and liabilities assumed with a corresponding offset to goodwill for these business combinations.
Impairment of Goodwill, Intangible Assets, and Other Long-Lived Assets
Impairment of Goodwill, Intangible Assets, and Other Long-Lived Assets

The Company’s long-lived assets with finite lives consist primarily of property and equipment, capitalized development software costs, operating lease right-of-use assets and acquired intangible assets. Long-lived assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets held and used is measured by comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset exceeds these estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the assets exceeds the fair value of the asset or asset group. The Company did not recognize any material impairments of long-lived assets for all periods presented.

Goodwill and indefinite-lived intangible assets are not amortized but rather tested for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that impairment may exist. Goodwill impairment is recognized when the quantitative assessment results in the carrying value of the reporting unit exceeding its fair value, in which case an impairment charge is recorded to goodwill to the extent the carrying value exceeds the fair value, limited to the amount of goodwill. The Company did not recognize any impairment of goodwill for all periods presented.
Recently Adopted Accounting Pronouncements
Recently Adopted Accounting Pronouncements

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected, with further clarifications made more recently. For trade receivables, loans, and other financial instruments, the Company is required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses which reflects losses that are probable. Credit losses relating to available-for-sale debt securities are required to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. The Company early adopted this guidance effective February 1, 2021 on a modified retrospective basis, and the adoption did not result in any cumulative effect adjustment in its consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by this new guidance. The Company adopted this guidance effective February 1, 2021 on a prospective basis, and the adoption did not have a material impact on its consolidated financial statements.

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by eliminating some exceptions to the general approach in ASC 740, Income Taxes in order to reduce the cost and complexity of its application. The Company early adopted this guidance effective February 1, 2021, and the adoption did not have a material impact on its consolidated financial statements.

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. Under the current business combinations guidance, such assets and liabilities are recognized by the acquirer at fair value on the acquisition date. The Company early adopted this guidance upon issuance to all business combinations that occur on or after the date of adoption, and the adoption did not have a material impact on the Company's consolidated financial statements.
v3.23.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 31, 2023
Accounting Policies [Abstract]  
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):
January 31, 2023January 31, 2022
United States$329,275 $272,895 
Other(1)
62,814 22,540 
Total$392,089 $295,435 
________________
(1)No individual country outside of the United States accounted for more than 10% of the Company’s long-lived assets as of January 31, 2023 and 2022.
v3.23.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations (Tables)
 12 Months Ended
Jan. 31, 2023
Revenue Recognition and Deferred Revenue [Abstract]  
Disaggregation of Revenue
Revenue consists of the following (in thousands):

Fiscal Year Ended January 31,
202320222021
Product revenue$1,938,783 $1,140,469 $553,794 
Professional services and other revenue126,876 78,858 38,255 
Total$2,065,659 $1,219,327 $592,049 
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):

Fiscal Year Ended January 31,
202320222021
Americas:
United States$1,633,843 $977,077 $499,590 
Other Americas(1)
46,577 26,324 9,480 
EMEA(1)(2)
292,666 169,268 66,813 
Asia-Pacific and Japan(1)
92,573 46,658 16,166 
Total$2,065,659 $1,219,327 $592,049 
________________
(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.
v3.23.1
Cash Equivalents and Investments (Tables)
 12 Months Ended
Jan. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents and Investments The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the consolidated balance sheets (in thousands):
January 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$379,094 $— $— $379,094 
Commercial paper9,305 — (1)9,304 
Corporate notes and bonds6,902 1 — 6,903 
Certificates of deposit3,045 — (1)3,044 
Total cash equivalents398,346 1 (2)398,345 
Investments:
Corporate notes and bonds2,124,454 2,096 (23,470)2,103,080 
Commercial paper883,023 272 (1,947)881,348 
U.S. government and agency securities715,949 107 (12,220)703,836 
Certificates of deposit453,557 278 (1,110)452,725 
Total investments4,176,983 2,753 (38,747)4,140,989 
Total cash equivalents and investments$4,575,329 $2,754 $(38,749)$4,539,334 

January 31, 2022
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$722,492 $— $— $722,492 
Commercial paper77,795 1 (2)77,794 
U.S. government securities36,997 — (2)36,995 
Corporate notes and bonds7,950 — (1)7,949 
Total cash equivalents845,234 1 (5)845,230 
Investments:
Corporate notes and bonds2,610,010 91 (12,062)2,598,039 
Commercial paper884,376 81 (821)883,636 
U.S. government and agency securities439,449 28 (2,558)436,919 
Certificates of deposit104,108 4 (135)103,977 
Total investments4,037,943 204 (15,576)4,022,571 
Total cash equivalents and investments$4,883,177 $205 $(15,581)$4,867,801 
Schedule of Cash Equivalents and Investments The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the consolidated balance sheets (in thousands):
January 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$379,094 $— $— $379,094 
Commercial paper9,305 — (1)9,304 
Corporate notes and bonds6,902 1 — 6,903 
Certificates of deposit3,045 — (1)3,044 
Total cash equivalents398,346 1 (2)398,345 
Investments:
Corporate notes and bonds2,124,454 2,096 (23,470)2,103,080 
Commercial paper883,023 272 (1,947)881,348 
U.S. government and agency securities715,949 107 (12,220)703,836 
Certificates of deposit453,557 278 (1,110)452,725 
Total investments4,176,983 2,753 (38,747)4,140,989 
Total cash equivalents and investments$4,575,329 $2,754 $(38,749)$4,539,334 

January 31, 2022
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$722,492 $— $— $722,492 
Commercial paper77,795 1 (2)77,794 
U.S. government securities36,997 — (2)36,995 
Corporate notes and bonds7,950 — (1)7,949 
Total cash equivalents845,234 1 (5)845,230 
Investments:
Corporate notes and bonds2,610,010 91 (12,062)2,598,039 
Commercial paper884,376 81 (821)883,636 
U.S. government and agency securities439,449 28 (2,558)436,919 
Certificates of deposit104,108 4 (135)103,977 
Total investments4,037,943 204 (15,576)4,022,571 
Total cash equivalents and investments$4,883,177 $205 $(15,581)$4,867,801 
Schedule of Available For Sale Securities Remaining Contractual Maturity The estimated fair values of available-for-sale marketable debt securities, by remaining contractual maturity, are as follows (in thousands):
January 31, 2023
Estimated
Fair Value
Due within 1 year$3,087,217 
Due in 1 year to 3 years1,073,023 
Total$4,160,240 
Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The following tables show the fair values of, and the gross unrealized losses on, the Company’s available-for-sale marketable debt securities, classified by the length of time that the securities have been in a continuous unrealized loss position and aggregated by investment type, on the consolidated balance sheets (in thousands):

January 31, 2023
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
Commercial paper$9,304 $(1)$— $— $9,304 $(1)
Certificates of deposit3,044 (1)— — 3,044 (1)
Total cash equivalents12,348 (2)— — 12,348 (2)
Investments:
Corporate notes and bonds899,655 (8,521)736,431 (14,949)1,636,086 (23,470)
U.S. government and agency securities387,207 (3,157)232,771 (9,063)619,978 (12,220)
Commercial paper561,793 (1,947)— — 561,793 (1,947)
Certificates of deposit256,428 (1,110)— — 256,428 (1,110)
Total investments2,105,083 (14,735)969,202 (24,012)3,074,285 (38,747)
Total cash equivalents and investments$2,117,431 $(14,737)$969,202 $(24,012)$3,086,633 $(38,749)

January 31, 2022
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
Commercial paper$55,819 $(2)$— $— $55,819 $(2)
U.S. government securities36,995 (2)— — 36,995 (2)
Corporate notes and bonds7,629 (1)— — 7,629 (1)
Total cash equivalents100,443 (5)— — 100,443 (5)
Investments:
Corporate notes and bonds2,378,956 (12,044)8,935 (18)2,387,891 (12,062)
Commercial paper653,827 (821)— — 653,827 (821)
U.S. government and agency securities334,980 (2,558)— — 334,980 (2,558)
Certificates of deposit49,118 (135)— — 49,118 (135)
Total investments3,416,881 (15,558)8,935 (18)3,425,816 (15,576)
Total cash equivalents and investments$3,517,324 $(15,563)$8,935 $(18)$3,526,259 $(15,581)
v3.23.1
Fair Value Measurements (Tables)
 12 Months Ended
Jan. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of January 31, 2023 (in thousands):

Level 1
Level 2
Total
Cash equivalents:
Money market funds$379,094 $— $379,094 
Commercial paper— 9,304 9,304 
Corporate notes and bonds— 6,903 6,903 
Certificates of deposit— 3,044 3,044 
Short-term investments:
Corporate notes and bonds— 1,301,296 1,301,296 
Commercial paper— 881,348 881,348 
Certificates of deposit— 445,194 445,194 
U.S. government and agency securities— 440,128 440,128 
Long-term investments:
Corporate notes and bonds— 801,784 801,784 
U.S. government and agency securities— 263,708 263,708 
Certificates of deposit— 7,531 7,531 
Total
$379,094 $4,160,240 $4,539,334 
The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of January 31, 2022 (in thousands):

Level 1
Level 2
Total
Cash equivalents:
Money market funds$722,492 $— $722,492 
Commercial paper— 77,794 77,794 
U.S. government securities— 36,995 36,995 
Corporate notes and bonds— 7,949 7,949 
Short-term investments:
Corporate notes and bonds— 1,662,436 1,662,436 
Commercial paper— 883,636 883,636 
U.S. government and agency securities— 116,712 116,712 
Certificates of deposit— 103,580 103,580 
Long-term investments:
Corporate notes and bonds— 935,603 935,603 
U.S. government and agency securities— 320,207 320,207 
Certificates of deposit— 397 397 
Total
$722,492 $4,145,309 $4,867,801 
Schedule of Fair Value Measurements
The following table presents the Company’s strategic investments by type (in thousands):

January 31, 2023January 31, 2022
Equity securities:
Non-marketable equity securities under Measurement Alternative$174,248 $170,860 
Non-marketable equity securities under equity method5,066 — 
Marketable equity securities22,122 34,646 
Debt securities:
Non-marketable debt securities1,500 2,250 
Total strategic investments—included in other assets$202,936 $207,756 
Unrealized Gain (Loss) on Investments
The following table summarizes the unrealized gains and losses included in the carrying value of the Company’s strategic investments in equity securities held as of January 31, 2023 (in thousands):

Fiscal Year Ended January 31,
20232022
Non-marketable equity securities under Measurement Alternative:
Upward adjustments$4,125 $32,975 
Impairments(38,036)— 
Marketable equity securities:
Net unrealized losses(12,524)(5,354)
Total—included in other income (expense), net$(46,435)$27,621 
v3.23.1
Property and Equipment, Net (Tables)
 12 Months Ended
Jan. 31, 2023
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

January 31, 2023January 31, 2022
Leasehold improvements$59,872 $51,801 
Computers, equipment, and software20,050 8,735 
Furniture and fixtures14,800 8,488 
Capitalized internal-use software development costs44,059 17,154 
Construction in progress—capitalized internal-use software development costs61,575 36,163 
Construction in progress—other7,313 6,185 
Total property and equipment, gross207,669 128,526 
Less: accumulated depreciation and amortization(1)
(46,846)(23,447)
Total property and equipment, net$160,823 $105,079 
________________
(1)Includes $19.9 million and $9.7 million of accumulated amortization related to capitalized internal-use software development costs as of January 31, 2023 and 2022, respectively.
v3.23.1
Business Combinations (Tables)
 12 Months Ended
Jan. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions, by Acquisition The acquisition date fair value of the purchase consideration was $650.8 million, which was comprised of the following (in thousands):
Estimated Fair Value
Cash$211,839 
Common stock(1)
438,916 
Total
$650,755 
________________
(1)Approximately 1.9 million shares of the Company’s Class A common stock were included in the purchase consideration and the fair values of these shares were determined based on the closing market price of $229.13 per share on the acquisition date.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The updated preliminary allocation of purchase consideration, inclusive of measurement period adjustments, was as follows:
Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents$33,914 
Goodwill494,411 
Developer community intangible asset150,000 
5
Other net tangible liabilities(659)
Deferred tax liabilities, net(1)
(26,911)
Total$650,755 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.
The updated preliminary allocation of purchase consideration, inclusive of measurement period adjustments, was as follows:
Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash$61 
Goodwill146,444 
Developed technology intangible asset35,000 
5
Other net tangible liabilities(612)
Deferred tax liabilities, net(1)
(6,202)
Total$174,691 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.
Business Acquisition, Pro Forma Information
The following unaudited pro forma financial information summarizes the combined results of operations of the Company and the above three companies acquired during fiscal 2023, as if each had been acquired as of February 1, 2021 (in thousands):

Pro Forma
Fiscal Year Ended January 31,
20232022
(unaudited)
Revenue$2,067,262 $1,221,461 
Net loss$(866,099)$(817,848)
v3.23.1
Intangible Assets and Goodwill (Tables)
 12 Months Ended
Jan. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
Intangible assets, net consisted of the following (in thousands):

January 31, 2023
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developer community$150,000 $(25,206)$124,794 
Developed technology48,332 (9,608)38,724 
Assembled workforce28,252 (11,036)17,216 
Patents8,874 (4,421)4,453 
Other47 (47)— 
Total finite-lived intangible assets$235,505 $(50,318)$185,187 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$186,013 

January 31, 2022
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Assembled workforce$28,252 $(3,941)$24,311 
Developed technology11,332 (4,812)6,520 
Patents8,174 (2,690)5,484 
Other47 (47)— 
Total finite-lived intangible assets$47,805 $(11,490)$36,315 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$37,141 
Schedule of Future Amortization Expense
As of January 31, 2023, future amortization expense is expected to be as follows (in thousands):
Amount
Fiscal Year Ending January 31,
2024$48,501 
202547,780 
202641,649 
202737,497 
20289,760 
Thereafter—
Total$185,187 
Schedule of Goodwill
Changes in goodwill were as follows (in thousands):

Amount
Balance—January 31, 2021 and January 31, 2022
$8,449 
Additions and related adjustments(1)
648,921 
Balance—January 31, 2023
$657,370 
________________
(1)Includes measurement period adjustments related to the Company’s preliminary fair values of the assets acquired and liabilities assumed in business combinations, which did not have a material impact on goodwill. See Note 7 for further details.
v3.23.1
Accrued Expenses and Other Current Liabilities (Tables)
 12 Months Ended
Jan. 31, 2023
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):

January 31, 2023January 31, 2022
Accrued compensation$123,173 $98,916 
Employee contributions under employee stock purchase plan36,648 28,497 
Accrued third-party cloud infrastructure expenses26,535 13,341 
Liabilities associated with sales, marketing and business development programs23,444 16,284 
Accrued taxes20,003 12,709 
Accrued professional services11,776 7,068 
Accrued purchases of property and equipment3,876 4,204 
Other23,614 19,645 
Total accrued expenses and other current liabilities$269,069 $200,664 
v3.23.1
Commitment and Contingencies (Tables)
 12 Months Ended
Jan. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Cost
The components of lease costs and other information related to leases were as follows (in thousands):

Fiscal Year Ended January 31,
202320222021
Operating lease costs$46,240 $35,745 $33,627 
Variable lease costs7,906 6,029 6,203 
Sublease income(12,782)(12,722)(12,779)
Total lease costs$41,364 $29,052 $27,051 
Supplemental cash flow information and non-cash activity related to the Company’s operating leases were as follows (in thousands):

Fiscal Year Ended January 31,
202320222021
Cash payments (receipts) included in the measurement of operating lease liabilities—operating cash flows
$42,342 $38,249 $31,281 
Operating lease liabilities arising from obtaining right-of-use assets$72,158 $28,314 $11,506 

Weighted-average remaining lease term and discount rate for the Company’s operating leases were as follows:

January 31, 2023January 31, 2022
Weighted-average remaining lease term (years)
8.28.0
Weighted-average discount rate
6.5 %5.9 %
Schedule of Operating Leases and Subleases
The total remaining lease payments under non-cancelable operating leases and lease receipts for subleases as of January 31, 2023 were as follows (in thousands):

Operating Leases
Subleases
Total
Fiscal Year Ending January 31,
2024$32,033 $(12,083)$19,950 
202541,201 (7,746)33,455 
202638,044 (5,774)32,270 
202738,156 (5,960)32,196 
202835,727 (6,153)29,574 
Thereafter151,951 (9,586)142,365 
Total lease payments (receipts)$337,112 $(47,302)$289,810 
Less: imputed interest(85,454)
Present value of operating lease liabilities$251,658 
Schedule of Other Contractual Commitments
Future minimum payments under the Company’s non-cancelable purchase commitments with a remaining term in excess of one year as of January 31, 2023 are presented in the table below (in thousands):

Amount
Fiscal Year Ending January 31,
2024$388,539 
2025499,406 
2026931,199 (1)
2027556,178 
2028651,781 
Thereafter—
Total$3,027,103 
________________
(1)Includes $416.4 million of remaining non-cancelable contractual commitments as of January 31, 2023 related to one of the Company's third-party cloud infrastructure agreements, under which the Company committed to spend an aggregate of at least $555.0 million, between September 2020 and December 2025 with no minimum purchase commitment during any year. The Company is required to pay the difference if it fails to meet the minimum purchase commitment by December 2025, and such payment can be applied to qualifying expenditures for cloud infrastructure services for up to twelve months after December 2025.
v3.23.1
Equity (Tables)
 12 Months Ended
Jan. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares Reserved For Future Issuance
The Company had reserved shares of common stock for future issuance as follows (in thousands):

January 31, 2023January 31, 2022
2012 Equity Incentive Plan:
Options outstanding35,212 42,043 
Restricted stock units outstanding2,521 4,530 
2020 Equity Incentive Plan:
Options outstanding642 — 
Restricted stock units outstanding13,039 5,082 
Shares available for future grants52,989 45,446 
2020 Employee Stock Purchase Plan:
Shares available for future grants11,046 8,209 
Total shares of common stock reserved for future issuance115,449 105,310 
Option Activity Rollforward
A summary of stock option activity and activity regarding shares available for grant under the Plans during the fiscal years ended January 31, 2023, 2022, and 2021 is as follows:
Shares
Available for Grant
(in thousands)		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, 2020
412 80,903 $6.21 8.6$1,546,313 
Shares authorized54,970—
Shares ceased to be available for issuance under the 2012 Plan(15,696)—
Options granted(877)877$34.83 
Options exercised—(13,799)$3.90 
Options canceled3,406(3,406)$7.04 
Repurchase of unvested common stock40—
RSUs granted(9,553)—
RSUs forfeited168—
Balance—January 31, 2021
32,87064,575$7.04 7.7$17,138,896 
Shares authorized14,397—
Options exercised—(20,903)$6.08 
Options canceled1,629(1,629)$6.80 
RSUs granted(4,026)—
RSUs forfeited576—
Balance—January 31, 2022
45,44642,043$7.53 6.9$11,283,299 
Shares authorized15,619—
Options granted(642)642$207.56 
Options exercised—(6,118)$6.50 
Options canceled713(713)$8.02 
RSUs granted(10,788)—
Shares withheld related to net share settlement of RSUs1,149—
RSUs forfeited1,492—
Balance—January 31, 2023
52,98935,854$11.27 5.9$5,237,549 
Vested and exercisable as of January 31, 2023
30,261$8.20 5.8$4,492,574 
Option Rollforward Schedule
A summary of stock option activity and activity regarding shares available for grant under the Plans during the fiscal years ended January 31, 2023, 2022, and 2021 is as follows:
Shares
Available for Grant
(in thousands)		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, 2020
412 80,903 $6.21 8.6$1,546,313 
Shares authorized54,970—
Shares ceased to be available for issuance under the 2012 Plan(15,696)—
Options granted(877)877$34.83 
Options exercised—(13,799)$3.90 
Options canceled3,406(3,406)$7.04 
Repurchase of unvested common stock40—
RSUs granted(9,553)—
RSUs forfeited168—
Balance—January 31, 2021
32,87064,575$7.04 7.7$17,138,896 
Shares authorized14,397—
Options exercised—(20,903)$6.08 
Options canceled1,629(1,629)$6.80 
RSUs granted(4,026)—
RSUs forfeited576—
Balance—January 31, 2022
45,44642,043$7.53 6.9$11,283,299 
Shares authorized15,619—
Options granted(642)642$207.56 
Options exercised—(6,118)$6.50 
Options canceled713(713)$8.02 
RSUs granted(10,788)—
Shares withheld related to net share settlement of RSUs1,149—
RSUs forfeited1,492—
Balance—January 31, 2023
52,98935,854$11.27 5.9$5,237,549 
Vested and exercisable as of January 31, 2023
30,261$8.20 5.8$4,492,574 
Schedule of Unvested RSU Rollforward
A summary of RSU activity during the fiscal years ended January 31, 2023, 2022, and 2021 is as follows:

Number of Shares
(in thousands)		Weighted-Average Grant Date Fair Value
per Share
Unvested Balance—January 31, 2020
— $— 
Granted9,553 $123.71 
Vested(37)$50.71 
Forfeited(168)$64.13 
Unvested Balance—January 31, 2021
9,348 $125.06 
Granted4,026 $250.46 
Vested(3,186)$109.44 
Forfeited(576)$169.74 
Unvested Balance—January 31, 2022
9,612 $180.08 
Granted10,788 $180.65 
Vested(3,348)$165.30 
Forfeited(1,492)$206.02 
Unvested Balance—January 31, 2023
15,560 $181.17 
Schedule of Unvested RSA Rollforward A summary of restricted common stock activity outside of the Plans during the fiscal years ended January 31, 2023, 2022, and 2021 is as follows:
Outside of the Plans
Number of Shares
(in thousands)		Weighted-Average Grant Date Fair Value
per Share
Unvested Balance—January 31, 2020
1,604 $2.06 
Vested(862)$2.03 
Unvested Balance—January 31, 2021
742 $2.11 
Vested(362)$2.10 
Unvested Balance—January 31, 2022
380 $2.11 
Granted409 $229.13 
Vested(361)$2.10 
Unvested Balance—January 31, 2023
428 $219.26 
Valuation Assumptions Schedule The following table summarizes the assumptions used in estimating the fair value of stock options granted to employees and a non-employee director during the fiscal years ended January 31, 2023 and 2021:
Fiscal Year Ended January 31,
20232021
Expected term (in years)6.06.0
Expected volatility50.0 %37.2 %
Risk-free interest rate1.8 %1.0 %
Expected dividend yield— %— %
Valuation Assumptions Other Than Stock Options Schedule
The following table summarizes the assumptions used in estimating the fair value of employee stock purchase rights granted under the 2020 ESPP during the fiscal years ended January 31, 2023, 2022, and 2021:

Fiscal Year Ended January 31,
202320222021
Expected term (in years)0.50.50.5
Expected volatility
58.9% - 74.8%
37.3% - 49.5%
60.1 %
Risk-free interest rate
0.9% - 3.8%
0.1 %0.1 %
Expected dividend yield— %— %— %
Share-based Compensation Schedule
Stock-based compensation included in the consolidated statements of operations was as follows (in thousands):
Fiscal Year Ended January 31,
202320222021
Cost of revenue$106,302 $87,336 $33,642 
Sales and marketing246,811 185,970 97,879 
Research and development407,524 232,867 99,223 
General and administrative100,896 98,922 70,697 
Stock-based compensation, net of amounts capitalized861,533 605,095 301,441 
Capitalized stock-based compensation29,417 24,174 2,072 
Total stock-based compensation$890,950 $629,269 $303,513 
v3.23.1
Income Taxes (Tables)
 12 Months Ended
Jan. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Components of Loss Before Income Taxes
The components of loss before income taxes were as follows (in thousands):

Fiscal Year Ended January 31,
202320222021
U.S.$(851,538)$(717,208)$(544,700)
Foreign35,545 40,248 7,660 
Loss before income taxes$(815,993)$(676,960)$(537,040)
Schedule of Provision for Income Taxes
The provision for (benefit from) income taxes consists of the following (in thousands):

Fiscal Year Ended January 31,
202320222021
Current provision:
State$626 $288 $704 
Foreign7,571 3,417 1,388 
Deferred benefit:
Federal(21,647)— (28)
State(4,410)— (2)
Foreign(607)(717)— 
Provision for (benefit from) income taxes$(18,467)$2,988 $2,062 
Schedule of Effective Income Tax Rate Reconciliation
The effective income tax rate differs from the federal statutory income tax rate applied to the loss before income taxes due to the following (in thousands):

Fiscal Year Ended January 31,
202320222021
Income tax benefit computed at federal statutory rate$(171,359)$(142,162)$(112,778)
State taxes, net of federal benefit14,948 35,360 14,818 
Research and development credits(58,136)(142,544)(56,633)
Stock-based compensation(71,295)(898,234)(246,363)
Change in valuation allowance213,532 1,159,276 391,659 
IRC Section 59A waived deductions49,476 — — 
Other4,367 (8,708)11,359 
Provision for (benefit from) income taxes$(18,467)$2,988 $2,062 
Schedule of Deferred Tax Assets and Liabilities
Significant components of the Company’s deferred tax assets and deferred tax liabilities are shown below (in thousands):

January 31, 2023January 31, 2022
Deferred tax assets:
Net operating losses carryforwards$1,567,135 $1,522,969 
Tax credit carryforwards274,690 215,934 
Capitalized research and development147,328 — 
Stock-based compensation123,408 88,743 
Operating lease liabilities55,079 48,682 
Net unrealized losses on strategic investments5,669 — 
Other46,361 79,141 
Total deferred tax assets2,219,670 1,955,469 
Less: valuation allowance(2,100,594)(1,858,730)
Net deferred tax assets119,076 96,739 
Deferred tax liabilities:
Deferred commissions(31,940)(28,368)
Intangible assets(39,426)(15,692)
Operating lease right-of-use assets(53,829)(48,307)
Net unrealized gains on strategic investments— (6,399)
Other(2,358)— 
Total deferred tax liabilities(127,553)(98,766)
Net deferred tax liabilities$(8,477)$(2,027)
Schedule of Unrecognized Tax Benefits
The following table shows the changes in the gross amount of unrecognized tax benefits (in thousands):

Fiscal Year Ended January 31,
202320222021
Beginning balance$57,715 $19,349 $4,057 
Increases based on tax positions during the prior period1,816 20 35 
Increases based on tax positions during the current period15,649 38,346 15,257 
Ending balance$75,180 $57,715 $19,349 
v3.23.1
Net Loss per Share (Tables)
 12 Months Ended
Jan. 31, 2023
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. Class A and Class B common stockholders (in thousands, except per share data):

Fiscal Year Ended January 31,
202320222021
Numerator:
Net loss$(797,526)$(679,948)$(539,102)
Less: net loss attributable to noncontrolling interest(821)— — 
Net loss attributable to Snowflake Inc. Class A and Class B common stockholders$(796,705)$(679,948)$(539,102)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic and diluted318,730 300,273 141,613 
Net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic and diluted$(2.50)$(2.26)$(3.81)
Schedule of Potentially Dilutive Securities Excluded from Computation of Net Loss per Share The following potentially dilutive securities were excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders for the periods presented because the impact of including them would have been anti-dilutive (in thousands):
Fiscal Year Ended January 31,
202320222021
Stock options35,854 42,043 64,575 
RSUs15,560 9,612 9,349 
Unvested restricted common stock and early exercised stock options446 426 988 
Employee stock purchase rights under the 2020 ESPP265 116 214 
Total52,125 52,197 75,126 
v3.23.1
Basis of Presentation and Summary of Significant Accounting Policies - Summary of Long-lived Assets by Geographic Areas (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Property, Plant and Equipment    
Total $ 392,089 $ 295,435
United States    
Property, Plant and Equipment    
Total 329,275 272,895
Other    
Property, Plant and Equipment    
Total $ 62,814 $ 22,540
v3.23.1
Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Concentration Risk [Line Items]      
Advertising costs $ 68,200,000 $ 57,500,000 $ 41,000,000
Incremental cost amortization period 5 years    
Impairment losses $ 0 $ 0 $ 0
Software and Software Development Costs      
Concentration Risk [Line Items]      
Estimated useful life 3 years    
Minimum      
Concentration Risk [Line Items]      
Contract term 1 year    
Estimated useful life 3 years    
Maximum      
Concentration Risk [Line Items]      
Contract term 4 years    
Estimated useful life 7 years    
On-demand arrangements | Revenue from Contract with Customer Benchmark | Product and Service      
Concentration Risk [Line Items]      
Concentration risk, percentage 2.00% 3.00% 4.00%
v3.23.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Disaggregation of Revenue [Line Items]      
Revenue $ 2,065,659 $ 1,219,327 $ 592,049
Product revenue      
Disaggregation of Revenue [Line Items]      
Revenue 1,938,783 1,140,469 553,794
Professional services and other revenue      
Disaggregation of Revenue [Line Items]      
Revenue $ 126,876 $ 78,858 $ 38,255
v3.23.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Revenue from External Customers by Geographic Areas (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Disaggregation of Revenue [Line Items]      
Revenue $ 2,065,659 $ 1,219,327 $ 592,049
United States      
Disaggregation of Revenue [Line Items]      
Revenue 1,633,843 977,077 499,590
Other Americas      
Disaggregation of Revenue [Line Items]      
Revenue 46,577 26,324 9,480
EMEA      
Disaggregation of Revenue [Line Items]      
Revenue 292,666 169,268 66,813
Asia-Pacific and Japan      
Disaggregation of Revenue [Line Items]      
Revenue $ 92,573 $ 46,658 $ 16,166
v3.23.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Disaggregation of Revenue [Line Items]      
Allowance for doubtful accounts $ 2.2 $ 1.3  
Revenue recognized 974.3 $ 535.8 $ 257.9
Remaining performance obligation $ 3,700.0    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-02-01      
Disaggregation of Revenue [Line Items]      
Revenue, remaining performance obligation, percentage 55.00%    
Remaining performance obligation, remaining life 12 months    
v3.23.1
Cash Equivalents and Investments - Schedule of Cash and Cash Equivalents and Investments Fair Value (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Cash equivalents:    
Amortized Cost $ 398,346 $ 845,234
Gross Unrealized Gains 1 1
Gross Unrealized Losses (2) (5)
Estimated Fair Value 398,345 845,230
Investments:    
Amortized Cost 4,176,983 4,037,943
Gross Unrealized Gains 2,753 204
Gross Unrealized Losses (38,747) (15,576)
Estimated Fair Value 4,140,989 4,022,571
Amortized Cost 4,575,329 4,883,177
Gross Unrealized Gains 2,754 205
Gross Unrealized Losses (38,749) (15,581)
Estimated Fair Value 4,539,334 4,867,801
Commercial paper    
Investments:    
Amortized Cost 883,023 884,376
Gross Unrealized Gains 272 81
Gross Unrealized Losses (1,947) (821)
Estimated Fair Value 881,348 883,636
Corporate notes and bonds    
Investments:    
Amortized Cost 2,124,454 2,610,010
Gross Unrealized Gains 2,096 91
Gross Unrealized Losses (23,470) (12,062)
Estimated Fair Value 2,103,080 2,598,039
U.S. government and agency securities    
Investments:    
Amortized Cost 715,949 439,449
Gross Unrealized Gains 107 28
Gross Unrealized Losses (12,220) (2,558)
Estimated Fair Value 703,836 436,919
Certificates of deposit    
Investments:    
Amortized Cost 453,557 104,108
Gross Unrealized Gains 278 4
Gross Unrealized Losses (1,110) (135)
Estimated Fair Value 452,725 103,977
Commercial paper    
Cash equivalents:    
Amortized Cost 9,305 77,795
Gross Unrealized Gains 0 1
Gross Unrealized Losses (1) (2)
Estimated Fair Value 9,304 77,794
Certificates of deposit    
Cash equivalents:    
Amortized Cost 3,045  
Gross Unrealized Gains 0  
Gross Unrealized Losses (1)  
Estimated Fair Value 3,044  
Money market funds    
Cash equivalents:    
Amortized Cost 379,094 722,492
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 379,094 722,492
Corporate notes and bonds    
Cash equivalents:    
Amortized Cost 6,902 7,950
Gross Unrealized Gains 1 0
Gross Unrealized Losses 0 (1)
Estimated Fair Value $ 6,903 7,949
U.S. government and agency securities    
Cash equivalents:    
Amortized Cost   36,997
Gross Unrealized Gains   0
Gross Unrealized Losses   (2)
Estimated Fair Value   $ 36,995
v3.23.1
Cash Equivalents and Investments - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Debt Securities, Available-for-sale, Unrealized Loss Position    
Contractual maturities of available-for-sale debt securities, maximum 36 months  
Prepaid Expenses and Other Current Assets    
Debt Securities, Available-for-sale, Unrealized Loss Position    
Interest receivable, current $ 19.4 $ 14.1
v3.23.1
Cash Equivalents and Investments - Available for Sale Securities Remaining Contractual Maturity (Details)
$ in Thousands
Jan. 31, 2023
USD ($)
Investments, Debt and Equity Securities [Abstract]  
Due within 1 year $ 3,087,217
Due in 1 year to 3 years 1,073,023
Total $ 4,160,240
v3.23.1
Cash Equivalents and Investments - Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Cash Equivalents, Fair Value    
Less than 12 months, fair value $ 12,348 $ 100,443
12 months or greater, fair value 0 0
Total, fair value 12,348 100,443
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (2) (5)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (2) (5)
Investments, Fair Value    
Less than 12 months, fair value 2,105,083 3,416,881
12 months or greater, fair value 969,202 8,935
Total, fair value 3,074,285 3,425,816
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (14,735) (15,558)
12 months or greater, accumulated losses (24,012) (18)
Total, accumulated losses (38,747) (15,576)
Cash Equivalents And Debt Securities, Available-For-Sale [Abstract]    
Less than 12 months, fair value 2,117,431 3,517,324
12 months or greater, fair value 969,202 8,935
Total, fair value 3,086,633 3,526,259
Cash Equivalents And Debt Securities, Available-For-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, accumulated losses (14,737) (15,563)
12 months or greater, accumulated losses (24,012) (18)
Total, accumulated losses (38,749) (15,581)
Commercial paper    
Cash Equivalents, Fair Value    
Less than 12 months, fair value 9,304 55,819
12 months or greater, fair value 0 0
Total, fair value 9,304 55,819
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (1) (2)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (1) (2)
Investments, Fair Value    
Less than 12 months, fair value 561,793 653,827
12 months or greater, fair value 0 0
Total, fair value 561,793 653,827
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (1,947) (821)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (1,947) (821)
U.S. government and agency securities    
Cash Equivalents, Fair Value    
Less than 12 months, fair value   36,995
12 months or greater, fair value   0
Total, fair value   36,995
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses   (2)
12 months or greater, accumulated losses   0
Total, accumulated losses   (2)
Investments, Fair Value    
Less than 12 months, fair value 387,207 334,980
12 months or greater, fair value 232,771 0
Total, fair value 619,978 334,980
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (3,157) (2,558)
12 months or greater, accumulated losses (9,063) 0
Total, accumulated losses (12,220) (2,558)
Corporate notes and bonds    
Cash Equivalents, Fair Value    
Less than 12 months, fair value   7,629
12 months or greater, fair value   0
Total, fair value   7,629
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses   (1)
12 months or greater, accumulated losses   0
Total, accumulated losses   (1)
Investments, Fair Value    
Less than 12 months, fair value 899,655 2,378,956
12 months or greater, fair value 736,431 8,935
Total, fair value 1,636,086 2,387,891
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (8,521) (12,044)
12 months or greater, accumulated losses (14,949) (18)
Total, accumulated losses (23,470) (12,062)
Certificates of deposit    
Cash Equivalents, Fair Value    
Less than 12 months, fair value 3,044  
12 months or greater, fair value 0  
Total, fair value 3,044  
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (1)  
12 months or greater, accumulated losses 0  
Total, accumulated losses (1)  
Investments, Fair Value    
Less than 12 months, fair value 256,428 49,118
12 months or greater, fair value 0 0
Total, fair value 256,428 49,118
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (1,110) (135)
12 months or greater, accumulated losses 0 0
Total, accumulated losses $ (1,110) $ (135)
v3.23.1
Fair Value Measurements - Fair Value, Assets Measured on Recurring Basis (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Assets, Fair Value Disclosure    
Cash equivalents: $ 398,345 $ 845,230
Short-term investments 3,067,966 2,766,364
Long-term investments 1,073,023 1,256,207
Money market funds    
Assets, Fair Value Disclosure    
Cash equivalents: 379,094 722,492
Commercial paper    
Assets, Fair Value Disclosure    
Cash equivalents: 9,304 77,794
Corporate notes and bonds    
Assets, Fair Value Disclosure    
Cash equivalents: 6,903 7,949
Certificates of deposit    
Assets, Fair Value Disclosure    
Cash equivalents: 3,044  
U.S. government and agency securities    
Assets, Fair Value Disclosure    
Cash equivalents:   36,995
Recurring    
Assets, Fair Value Disclosure    
Total 4,539,334 4,867,801
Recurring | Corporate notes and bonds    
Assets, Fair Value Disclosure    
Short-term investments 1,301,296 1,662,436
Long-term investments 801,784 935,603
Recurring | U.S. government and agency securities    
Assets, Fair Value Disclosure    
Short-term investments 440,128 116,712
Long-term investments 263,708 320,207
Recurring | Commercial paper    
Assets, Fair Value Disclosure    
Short-term investments 881,348 883,636
Recurring | Certificates of deposit    
Assets, Fair Value Disclosure    
Short-term investments 445,194 103,580
Long-term investments 7,531 397
Recurring | Money market funds    
Assets, Fair Value Disclosure    
Cash equivalents: 379,094 722,492
Recurring | Commercial paper    
Assets, Fair Value Disclosure    
Cash equivalents: 9,304 77,794
Recurring | Corporate notes and bonds    
Assets, Fair Value Disclosure    
Cash equivalents: 6,903 7,949
Recurring | Certificates of deposit    
Assets, Fair Value Disclosure    
Cash equivalents: 3,044  
Recurring | U.S. government and agency securities    
Assets, Fair Value Disclosure    
Cash equivalents:   36,995
Recurring | Level 1    
Assets, Fair Value Disclosure    
Total 379,094 722,492
Recurring | Level 1 | Corporate notes and bonds    
Assets, Fair Value Disclosure    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | U.S. government and agency securities    
Assets, Fair Value Disclosure    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | Commercial paper    
Assets, Fair Value Disclosure    
Short-term investments 0 0
Recurring | Level 1 | Certificates of deposit    
Assets, Fair Value Disclosure    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | Money market funds    
Assets, Fair Value Disclosure    
Cash equivalents: 379,094 722,492
Recurring | Level 1 | Commercial paper    
Assets, Fair Value Disclosure    
Cash equivalents: 0 0
Recurring | Level 1 | Corporate notes and bonds    
Assets, Fair Value Disclosure    
Cash equivalents: 0 0
Recurring | Level 1 | Certificates of deposit    
Assets, Fair Value Disclosure    
Cash equivalents: 0  
Recurring | Level 1 | U.S. government and agency securities    
Assets, Fair Value Disclosure    
Cash equivalents:   0
Recurring | Level 2    
Assets, Fair Value Disclosure    
Total 4,160,240 4,145,309
Recurring | Level 2 | Corporate notes and bonds    
Assets, Fair Value Disclosure    
Short-term investments 1,301,296 1,662,436
Long-term investments 801,784 935,603
Recurring | Level 2 | U.S. government and agency securities    
Assets, Fair Value Disclosure    
Short-term investments 440,128 116,712
Long-term investments 263,708 320,207
Recurring | Level 2 | Commercial paper    
Assets, Fair Value Disclosure    
Short-term investments 881,348 883,636
Recurring | Level 2 | Certificates of deposit    
Assets, Fair Value Disclosure    
Short-term investments 445,194 103,580
Long-term investments 7,531 397
Recurring | Level 2 | Money market funds    
Assets, Fair Value Disclosure    
Cash equivalents: 0 0
Recurring | Level 2 | Commercial paper    
Assets, Fair Value Disclosure    
Cash equivalents: 9,304 77,794
Recurring | Level 2 | Corporate notes and bonds    
Assets, Fair Value Disclosure    
Cash equivalents: 6,903 7,949
Recurring | Level 2 | Certificates of deposit    
Assets, Fair Value Disclosure    
Cash equivalents: $ 3,044  
Recurring | Level 2 | U.S. government and agency securities    
Assets, Fair Value Disclosure    
Cash equivalents:   $ 36,995
v3.23.1
Fair Value Measurements - Schedule of Fair Value Measurements (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Fair Value Disclosures [Abstract]    
Non-marketable equity securities under Measurement Alternative $ 174,248 $ 170,860
Non-marketable equity securities under equity method 5,066 0
Marketable equity securities 22,122 34,646
Non-marketable debt securities 1,500 2,250
Total strategic investments—included in other assets $ 202,936 $ 207,756
v3.23.1
Fair Value Measurements - Unrealized Gain (Loss) on Investments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Fair Value Disclosures [Abstract]      
Upward adjustments $ 4,125 $ 32,975 $ 0
Impairments (38,036) 0 0
Net unrealized losses (12,524) (5,354) 0
Total—included in other income (expense), net $ (46,435) $ 27,621 $ 0
v3.23.1
Fair Value Measurements - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Fair Value Disclosures [Abstract]      
Net unrealized losses $ (12,524,000) $ (5,354,000) $ 0
Upward adjustments 4,125,000 32,975,000 0
Downward adjustments     0
Impairments (38,036,000) 0 0
Equity securities, FV-NI, realized gain (loss) 0 $ 0 $ 0
Cumulative amount of upward adjustments 37,100,000    
Impairments $ 38,000,000    
v3.23.1
Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Property, Plant and Equipment    
Total property and equipment, gross $ 207,669 $ 128,526
Less: accumulated depreciation and amortization (46,846) (23,447)
Total property and equipment, net 160,823 105,079
Leasehold improvements    
Property, Plant and Equipment    
Total property and equipment, gross 59,872 51,801
Computers, equipment, and software    
Property, Plant and Equipment    
Total property and equipment, gross 20,050 8,735
Furniture and fixtures    
Property, Plant and Equipment    
Total property and equipment, gross 14,800 8,488
Capitalized internal-use software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 44,059 17,154
Less: accumulated depreciation and amortization (19,900) (9,700)
Construction in progress—capitalized internal-use software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 61,575 36,163
Construction in progress—other    
Property, Plant and Equipment    
Total property and equipment, gross $ 7,313 $ 6,185
v3.23.1
Property and Equipment, Net - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Property, Plant and Equipment [Abstract]      
Depreciation $ 24.7 $ 13.7 $ 7.0
Accumulated amortization, property, plant, and equipment $ 10.2 $ 4.2 $ 2.9
v3.23.1
Business Combinations - Narrative (Details)
shares in Thousands, $ in Thousands
 12 Months Ended
Sep. 23, 2022
USD ($)
Mar. 31, 2022
USD ($)
founder
shares
Jan. 31, 2023
USD ($)
founder
shares
Jan. 31, 2021
USD ($)
Jan. 31, 2022
USD ($)
Business Acquisition [Line Items]          
Goodwill     $ 657,370 $ 8,449 $ 8,449
Restricted Common Stock | Outside of the Plans          
Business Acquisition [Line Items]          
Granted (shares) | shares     409    
Streamlit, Inc.          
Business Acquisition [Line Items]          
Total   $ 650,755      
Number of founders | founder   3 3    
Business combination, acquisition related costs     $ 1,900    
Cash   $ 211,839      
Goodwill   $ 494,411      
Streamlit, Inc. | Restricted Common Stock | Outside of the Plans | Class A Common Stock          
Business Acquisition [Line Items]          
Granted (shares) | shares   400      
Post-combination share-based compensation arrangement by share-based payment award, award vesting period   3 years      
Post-combination share-based compensation arrangement by share-based payment award, equity instruments other than options, granted in period, total fair value   $ 93,700      
Post-combination share-based compensation arrangement by share-based payment award, award service period   3 years      
Applica Sp. z.o.o.          
Business Acquisition [Line Items]          
Business combination, acquisition related costs     3,400    
Cash $ 174,700        
Goodwill $ 146,444        
Privately-Held Company          
Business Acquisition [Line Items]          
Cash     10,400 7,100  
Net tangible assets acquired     300    
Goodwill     8,100 1,400  
Privately-Held Company | Developed technology          
Business Acquisition [Line Items]          
Intangible assets     $ 2,000 $ 5,700  
Estimated useful life     5 years 5 years  
v3.23.1
Business Combinations - Schedule of Business Acquisitions, by Acquisition (Details) - Streamlit, Inc.
$ / shares in Units, $ in Thousands, shares in Millions
Mar. 31, 2022
USD ($)
$ / shares
shares
Business Acquisition [Line Items]  
Cash $ 211,839
Total 650,755
Class A Common Stock  
Business Acquisition [Line Items]  
Common stock $ 438,916
Class A Common Stock | Outside of the Plans  
Business Acquisition [Line Items]  
Business acquisition, equity interest issued or issuable (in shares) | shares 1.9
Business acquisition, share price (in dollars per share) | $ / shares $ 229.13
v3.23.1
Business Combinations - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
Sep. 23, 2022
Mar. 31, 2022
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Business Acquisition [Line Items]          
Goodwill     $ 657,370 $ 8,449 $ 8,449
Streamlit, Inc.          
Business Acquisition [Line Items]          
Cash   $ 33,914      
Goodwill   494,411      
Developed technology intangible asset   150,000      
Other net tangible liabilities   (659)      
Deferred tax liabilities, net   (26,911)      
Total   $ 650,755      
Estimated Useful Life (in years)   5 years      
Applica Sp. z.o.o.          
Business Acquisition [Line Items]          
Cash $ 61        
Goodwill 146,444        
Developed technology intangible asset 35,000        
Other net tangible liabilities (612)        
Deferred tax liabilities, net (6,202)        
Total $ 174,691        
Estimated Useful Life (in years) 5 years        
v3.23.1
Business Combinations - Business Acquisition, Pro Forma Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Business Combination and Asset Acquisition [Abstract]    
Revenue $ 2,067,262 $ 1,221,461
Net loss $ (866,099) $ (817,848)
v3.23.1
Intangible Assets and Goodwill - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Finite-Lived Intangible Assets [Line Items]    
Gross $ 235,505 $ 47,805
Accumulated Amortization (50,318) (11,490)
Net 185,187 36,315
Indefinite-lived intangible assets—trademarks 826 826
Total intangible assets, net 186,013 37,141
Developer community    
Finite-Lived Intangible Assets [Line Items]    
Gross 150,000  
Accumulated Amortization (25,206)  
Net 124,794  
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross 48,332 11,332
Accumulated Amortization (9,608) (4,812)
Net 38,724 6,520
Assembled workforce    
Finite-Lived Intangible Assets [Line Items]    
Gross 28,252 28,252
Accumulated Amortization (11,036) (3,941)
Net 17,216 24,311
Patents    
Finite-Lived Intangible Assets [Line Items]    
Gross 8,874 8,174
Accumulated Amortization (4,421) (2,690)
Net 4,453 5,484
Other    
Finite-Lived Intangible Assets [Line Items]    
Gross 47 47
Accumulated Amortization (47) (47)
Net $ 0 $ 0
v3.23.1
Intangible Assets and Goodwill - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Finite-Lived Intangible Assets [Line Items]      
Amortization expense $ 38.8 $ 7.8 $ 2.8
Assembled workforce      
Finite-Lived Intangible Assets [Line Items]      
Intangible assets acquired   $ 28.3  
Estimated Useful Life (in years)   4 years  
v3.23.1
Intangible Assets and Goodwill - Schedule of Future Amortization Expense (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]    
2024 $ 48,501  
2025 47,780  
2026 41,649  
2027 37,497  
2028 9,760  
Thereafter 0  
Net $ 185,187 $ 36,315
v3.23.1
Intangible Assets and Goodwill - Schedule of Goodwill (Details)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 8,449
Additions and related adjustments 648,921
Ending balance $ 657,370
v3.23.1
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Payables and Accruals [Abstract]    
Accrued compensation $ 123,173 $ 98,916
Employee contributions under employee stock purchase plan 36,648 28,497
Accrued third-party cloud infrastructure expenses 26,535 13,341
Liabilities associated with sales, marketing and business development programs 23,444 16,284
Accrued taxes 20,003 12,709
Accrued professional services 11,776 7,068
Accrued purchases of property and equipment 3,876 4,204
Other 23,614 19,645
Accrued expenses and other current liabilities $ 269,069 $ 200,664
v3.23.1
Commitment and Contingencies - Schedule of Lease Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Commitments and Contingencies Disclosure [Abstract]      
Operating lease costs $ 46,240 $ 35,745 $ 33,627
Variable lease costs 7,906 6,029 6,203
Sublease income (12,782) (12,722) (12,779)
Total lease costs $ 41,364 $ 29,052 $ 27,051
v3.23.1
Commitment and Contingencies - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Commitments and Contingencies Disclosure [Abstract]      
Cash payments (receipts) included in the measurement of operating lease liabilities—operating cash flows $ 42,342 $ 38,249 $ 31,281
Operating lease liabilities arising from obtaining right-of-use assets $ 72,158 $ 28,314 $ 11,506
v3.23.1
Commitment and Contingencies - Weighted Average Remaining Lease Term and Discount Rate (Details)
Jan. 31, 2023
Jan. 31, 2022
Commitments and Contingencies Disclosure [Abstract]    
Weighted-average remaining lease term (years) 8 years 2 months 12 days 8 years
Weighted-average discount rate 6.50% 5.90%
v3.23.1
Commitment and Contingencies - Schedule of Operating Leases and Subleases (Details)
$ in Thousands
Jan. 31, 2023
USD ($)
Operating Leases  
2024 $ 32,033
2025 41,201
2026 38,044
2027 38,156
2028 35,727
Thereafter 151,951
Total lease payments (receipts) 337,112
Less: imputed interest (85,454)
Present value of operating lease liabilities 251,658
Subleases  
2024 (12,083)
2025 (7,746)
2026 (5,774)
2027 (5,960)
2028 (6,153)
Thereafter (9,586)
Total lease payments (receipts) (47,302)
Total  
2024 19,950
2025 33,455
2026 32,270
2027 32,196
2028 29,574
Thereafter 142,365
Total lease payments (receipts) $ 289,810
v3.23.1
Commitment and Contingencies - Schedule of Other Contractual Commitments (Details)
$ in Thousands
Jan. 31, 2023
USD ($)
Other Commitment, Fiscal Year Maturity [Abstract]  
2024 $ 388,539
2025 499,406
2026 931,199
2027 556,178
2028 651,781
Thereafter 0
Total 3,027,103
Payment for other commitment 3,027,103
Third-Party Cloud Infrastructure Agreements and Subscription Arrangements, Spending Commitments Between September 2020 and December 2025  
Other Commitment, Fiscal Year Maturity [Abstract]  
2026 416,400
Third-Party Cloud Infrastructure Agreements and Subscription Arrangements, Spending Commitments Between September 2020 and December 2025 | Minimum  
Other Commitment, Fiscal Year Maturity [Abstract]  
Total 555,000
Payment for other commitment $ 555,000
v3.23.1
Commitment and Contingencies - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Other Commitments [Line Items]      
Payment for other commitment $ 3,027,103,000    
Purchase obligation, to be paid, year one 388,539,000    
Purchase obligation, to be paid, year two 499,406,000    
Purchase obligation, to be paid, year three 931,199,000    
Purchase obligation, to be paid, year four 556,178,000    
Purchase obligation, to be paid, year five 651,781,000    
Cost of matching contributions 0 $ 0 $ 0
Letters of credit outstanding 16,800,000    
Third-Party Cloud Infrastructure Agreements and Subscription Arrangements, Spending Commitments Between February 2023 and January 2028      
Other Commitments [Line Items]      
Payment for other commitment 2,500,000,000    
Purchase obligation, to be paid, year one 350,000,000    
Purchase obligation, to be paid, year two 450,000,000    
Purchase obligation, to be paid, year three 500,000,000    
Purchase obligation, to be paid, year four 550,000,000    
Purchase obligation, to be paid, year five 650,000,000    
Third-Party Cloud Infrastructure Agreements and Subscription Arrangements, Spending Commitments Between August 2020 and July 2025      
Other Commitments [Line Items]      
Purchase obligation, no longer expected to be paid $ 732,000,000    
v3.23.1
Redeemable Convertible Preferred Stock - Narrative (Details)
$ in Thousands
 1 Months Ended 12 Months Ended
Sep. 30, 2020
USD ($)
shares
Jan. 31, 2021
USD ($)
shares
Jan. 31, 2023
shares
Jan. 31, 2022
shares
Jan. 31, 2020
shares
Class of Stock [Line Items]          
Conversion of redeemable convertible preferred stock to common stock upon initial public offering | $   $ 1,415,047      
Redeemable convertible preferred stock, shares issued (in shares)     0 0  
Redeemable convertible preferred stock, shares outstanding (in shares)     0 0  
Redeemable Convertible Preferred Stock          
Class of Stock [Line Items]          
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares) 182,300,000 182,271,000      
Redeemable convertible preferred stock, shares outstanding (in shares)   0 0 0 169,921,000
Class B Common Stock          
Class of Stock [Line Items]          
Conversion ratio 1        
Conversion of redeemable convertible preferred stock to common stock upon initial public offering | $ $ 1,400,000        
v3.23.1
Equity - Narrative (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended 2 Months Ended 12 Months Ended 33 Months Ended
Mar. 31, 2022
USD ($)
founder
shares
Feb. 01, 2022
shares
Mar. 03, 2021
shares
Mar. 01, 2021
vote
$ / shares
shares
Feb. 28, 2021
vote
Sep. 30, 2020
USD ($)
class
$ / shares
shares
Mar. 31, 2020
shares
Dec. 31, 2017
$ / shares
shares
Jun. 30, 2020
USD ($)
Jan. 31, 2023
USD ($)
founder
$ / shares
shares
Jan. 31, 2022
USD ($)
$ / shares
shares
Jan. 31, 2021
USD ($)
$ / shares
shares
Jan. 31, 2023
USD ($)
$ / shares
shares
Feb. 29, 2020
$ / shares
Jan. 31, 2020
shares
Share-based Compensation Arrangement by Share-based Payment Award                              
Preferred stock, shares authorized (in shares)           200,000,000       200,000,000 200,000,000   200,000,000    
Preferred stock, par value (in dollars per share) | $ / shares           $ 0.0001       $ 0.0001 $ 0.0001   $ 0.0001    
Common stock, number of classes of stock | class           2                  
Conversion, percent threshold         10.00%                    
Common stock reserved for future issuances (shares)                   115,449,000 105,310,000   115,449,000    
Shares authorized (in shares)                   15,619,000 14,397,000 54,970,000      
Options granted (shares)                   642,000 0 877,000      
Granted (per share) | $ / shares                   $ 101.66   $ 22.67      
Intrinsic value of shares exercised | $                   $ 1,000,000 $ 5,700,000 $ 2,000,000      
Grant date fair value of vested shares | $                   79,100 81,000 90,900      
Stock-based compensation, net of amounts capitalized | $                   861,533 605,095 301,441      
Proceeds from repayments of a nonrecourse promissory note | $                   0 $ 0 $ 2,090      
Unrecognized share-based compensation expense | $                   $ 2,400,000     $ 2,400,000    
Unrecognized share-based compensation expense recognition period (term)                   2 years 10 months 24 days          
Streamlit, Inc.                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Number of founders | founder 3                 3          
2020 Plan                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Shares authorized (in shares)   15,600,000                          
Employee stock purchase rights under the 2020 ESPP                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Common stock reserved for future issuances (shares)                   11,046,000 8,209,000   11,046,000    
Shares authorized (in shares)   3,100,000                          
Stock market discount                   85.00%          
Offering period                   6 months          
Stock options                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Vesting period (years)                   4 years          
Expiration period (years)                   10 years          
RSUs                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Vesting period (years)                   4 years          
Stock-based compensation, net of amounts capitalized | $           $ 55,500                  
Granted (shares)                   10,788,000 4,026,000 9,553,000      
Nonvested (in shares)                   15,560,000 9,612,000 9,348,000 15,560,000   0
Vested (shares)                   3,348,000 3,186,000 37,000      
2020 Plan | Stock options                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Common stock reserved for future issuances (shares)                   642,000 0   642,000    
2020 Plan | RSUs                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Common stock reserved for future issuances (shares)                   13,039,000 5,082,000   13,039,000    
2012 Plan | Stock options                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Common stock reserved for future issuances (shares)                   35,212,000 42,043,000   35,212,000    
Expiration period (years)                   10 years          
2012 Plan | RSUs                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Common stock reserved for future issuances (shares)                   2,521,000 4,530,000   2,521,000    
Outside of the Plans | Restricted Common Stock                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Granted (shares)                   409,000          
Nonvested (in shares)                   428,000 380,000 742,000 428,000   1,604,000
Vested (shares)                   361,000 362,000 862,000      
Outside of the Plans | Restricted Common Stock | Promissory Notes                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Vesting period (years)               5 years              
Shares authorized (shares)               1,300,000              
Shares issued (per share) | $ / shares               $ 1.59              
Debt instrument, stated interest rate               2.11%              
Proceeds from repayments of a nonrecourse promissory note | $                 $ 2,100            
Vested (shares)                         1,300,000    
Class A Common Stock                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Common stock, shares authorized (in shares)           2,500,000,000       2,500,000,000 2,500,000,000   2,500,000,000    
Common stock, par value (in dollars per share) | $ / shares       $ 0.0001           $ 0.0001 $ 0.0001   $ 0.0001    
Common stock, voting rights, votes per share | vote       1                      
Class A Common Stock | Employee stock purchase rights under the 2020 ESPP                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Common stock reserved for future issuances (shares)           5,700,000                  
Class A Common Stock | 2020 Plan                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Common stock reserved for future issuances (shares)           34,100,000                  
Maximum common shares authorized to be outstanding (shares)           78,800,000                  
Class A Common Stock | Outside of the Plans | Restricted Common Stock | Streamlit, Inc.                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Vesting period (years)                   3 years          
Granted (shares) 400,000                            
Post-combination share-based compensation arrangement by share-based payment award, equity instruments other than options, granted in period, total fair value | $ $ 93,700                            
Service period                   3 years          
Nonvested (in shares)                   400,000     400,000    
Class A Common Stock | IPO                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Number of shares issued (in shares)           32,200,000                  
Price per share (in dollars per share) | $ / shares           $ 120.00                  
Net proceeds | $           $ 3,700,000                  
Class A Common Stock | Over-Allotment Option                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Number of shares issued (in shares)           4,200,000                  
Class A Common Stock | Private Placement                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Price per share (in dollars per share) | $ / shares           $ 120.00                  
Net proceeds | $           $ 500,000                  
Class A Common Stock | Private Placement | Berkshire Hathaway Inc.                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Number of shares issued (in shares)           2,100,000                  
Class A Common Stock | Private Placement | Salesforce Ventures LLC                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Number of shares issued (in shares)           2,100,000                  
Redeemable Convertible Preferred Stock                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares)           182,300,000           182,271,000      
Class B Common Stock                              
Share-based Compensation Arrangement by Share-based Payment Award                              
Conversion ratio           1                  
Common stock, shares authorized (in shares)           355,000,000       185,461,000 185,461,000   185,461,000    
Shares converted (in shares)     169,500,000 169,500,000                      
Common stock, par value (in dollars per share) | $ / shares       $ 0.0001           $ 0.0001 $ 0.0001   $ 0.0001    
Common stock, voting rights, votes per share | vote         10                    
Shares issued (per share) | $ / shares                           $ 38.77  
Shares issued for common stock (shares)             8,600,000                
v3.23.1
Equity - Shares Reserved For Future Issuance (Details) - shares
shares in Thousands
Jan. 31, 2023
Jan. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 115,449 105,310
Employee stock purchase rights under the 2020 ESPP    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 11,046 8,209
2012 Plan | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 35,212 42,043
2012 Plan | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 2,521 4,530
2020 Plan | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 642 0
2020 Plan | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 13,039 5,082
2020 Plan | Shares available for future grants    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 52,989 45,446
v3.23.1
Equity - Shares Outstanding (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Jan. 31, 2020
Shares Available for Grant (in thousands)        
Shares available for grant, beginning (in shares) 45,446,000 32,870,000 412,000  
Shares authorized (in shares) 15,619,000 14,397,000 54,970,000  
Shares ceased to be available for issuance (in shares)     (15,696,000)  
Options granted (in shares) (642,000) 0 (877,000)  
Options canceled (in shares) 713,000 1,629,000 3,406,000  
Repurchase of unvested common stock (in shares)     40,000  
Shares available for grant, ending (in shares) 52,989,000 45,446,000 32,870,000 412,000
Number of Options Outstanding (in thousands)        
Shares outstanding, beginning (in shares) 42,043,000 64,575,000 80,903,000  
Options granted (in shares) 642,000 0 877,000  
Options exercised (in shares) (6,118,000) (20,903,000) (13,799,000)  
Options canceled (in shares) (713,000) (1,629,000) (3,406,000)  
Shares outstanding, ending (in shares) 35,854,000 42,043,000 64,575,000 80,903,000
Weighted- Average Exercise Price        
Shares outstanding, beginning balance (in dollars per share) $ 7.53 $ 7.04 $ 6.21  
Granted (in dollars per share) 207.56   34.83  
Exercises (in dollars per share) 6.50 6.08 3.90  
Canceled (in shares) 8.02 6.80 7.04  
Shares outstanding, ending balance (in dollars per share) $ 11.27 $ 7.53 $ 7.04 $ 6.21
Weighted-average remaining contractual life 5 years 10 months 24 days 6 years 10 months 24 days 7 years 8 months 12 days 8 years 7 months 6 days
Aggregate Intrinsic Value (in thousands)        
Aggregate intrinsic value $ 5,237,549 $ 11,283,299 $ 17,138,896 $ 1,546,313
Vested and exercisable (in shares) 30,261,000      
Vested and exercisable, weighted average share price (in dollars per share) $ 8.20      
Vested and exercisable, weighted average remaining contractual life 5 years 9 months 18 days      
Vested and exercisable, intrinsic value $ 4,492,574      
RSUs        
Shares Available for Grant (in thousands)        
RSU's granted (in shares) (10,788,000) (4,026,000) (9,553,000)  
Shares withheld (in shares) 1,149,000      
RSU's forfeited (in shares) 1,492,000 576,000 168,000  
v3.23.1
Equity - Unvested RSA & RSU Rollforward (Details) - $ / shares
shares in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
RSUs      
Number of Shares (in thousands)      
Unvested balance, beginning (shares) 9,612 9,348 0
Granted (shares) 10,788 4,026 9,553
Vested (shares) (3,348) (3,186) (37)
Forfeited (shares) (1,492) (576) (168)
Unvested balance, ending (shares) 15,560 9,612 9,348
Weighted-Average Grant Date Fair Value per Share      
Unvested balance , beginning balance (in dollars per share) $ 180.08 $ 125.06 $ 0
Granted (in dollars per share) 180.65 250.46 123.71
Vested (in dollars per share) 165.30 109.44 50.71
Forfeited (in dollars per share) 206.02 169.74 64.13
Unvested balance , ending balance (in dollars per share) $ 181.17 $ 180.08 $ 125.06
Outside of the Plans | Restricted Common Stock      
Number of Shares (in thousands)      
Unvested balance, beginning (shares) 380 742 1,604
Granted (shares) 409    
Vested (shares) (361) (362) (862)
Unvested balance, ending (shares) 428 380 742
Weighted-Average Grant Date Fair Value per Share      
Unvested balance , beginning balance (in dollars per share) $ 2.11 $ 2.11 $ 2.06
Granted (in dollars per share) 229.13    
Vested (in dollars per share) 2.10 2.10 2.03
Unvested balance , ending balance (in dollars per share) $ 219.26 $ 2.11 $ 2.11
v3.23.1
Equity - Valuation Assumptions (Details)
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Stock options      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology      
Expected term (in years) 6 years   6 years
Expected volatility 50.00%   37.20%
Risk-free interest rate 1.80%   1.00%
Expected dividend yield 0.00%   0.00%
Employee stock purchase rights under the 2020 ESPP      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology      
Expected term (in years) 6 months 6 months 6 months
Expected volatility     60.10%
Expected volatility, minimum 58.90% 37.30%  
Expected volatility, maximum 74.80% 49.50%  
Risk-free interest rate   0.10% 0.10%
Risk-free interest rate, minimum 0.90%    
Risk-free interest rate, maximum 3.80%    
Expected dividend yield 0.00% 0.00% 0.00%
v3.23.1
Equity - Share-based Compensation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized $ 861,533 $ 605,095 $ 301,441
Capitalized stock-based compensation 29,417 24,174 2,072
Total stock-based compensation 890,950 629,269 303,513
Cost of revenue      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized 106,302 87,336 33,642
Sales and marketing      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized 246,811 185,970 97,879
Research and development      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized 407,524 232,867 99,223
General and administrative      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized $ 100,896 $ 98,922 $ 70,697
v3.23.1
Income Taxes - Schedule of Components of Loss Before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Income Tax Disclosure [Abstract]      
U.S. $ (851,538) $ (717,208) $ (544,700)
Foreign 35,545 40,248 7,660
Loss before income taxes $ (815,993) $ (676,960) $ (537,040)
v3.23.1
Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Current provision:      
State $ 626 $ 288 $ 704
Foreign 7,571 3,417 1,388
Deferred benefit:      
Federal (21,647) 0 (28)
State (4,410) 0 (2)
Foreign (607) (717) 0
Provision for (benefit from) income taxes $ (18,467) $ 2,988 $ 2,062
v3.23.1
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Income Tax Disclosure [Abstract]      
Income tax benefit computed at federal statutory rate $ (171,359) $ (142,162) $ (112,778)
State taxes, net of federal benefit 14,948 35,360 14,818
Research and development credits (58,136) (142,544) (56,633)
Stock-based compensation (71,295) (898,234) (246,363)
Change in valuation allowance 213,532 1,159,276 391,659
IRC Section 59A waived deductions 49,476 0 0
Other 4,367 (8,708) 11,359
Provision for (benefit from) income taxes $ (18,467) $ 2,988 $ 2,062
v3.23.1
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Jan. 31, 2023
Jan. 31, 2022
Deferred tax assets:    
Net operating losses carryforwards $ 1,567,135 $ 1,522,969
Tax credit carryforwards 274,690 215,934
Capitalized research and development 147,328 0
Stock-based compensation 123,408 88,743
Operating lease liabilities 55,079 48,682
Net unrealized losses on strategic investments 5,669 0
Other 46,361 79,141
Total deferred tax assets 2,219,670 1,955,469
Less: valuation allowance (2,100,594) (1,858,730)
Net deferred tax assets 119,076 96,739
Deferred tax liabilities:    
Deferred commissions (31,940) (28,368)
Intangible assets (39,426) (15,692)
Operating lease right-of-use assets (53,829) (48,307)
Net unrealized gains on strategic investments 0 (6,399)
Other (2,358) 0
Total deferred tax liabilities (127,553) (98,766)
Net deferred tax liabilities $ (8,477) $ (2,027)
v3.23.1
Income Taxes - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Tax Credit Carryforward [Line Items]      
Valuation allowance $ 2,100,594,000 $ 1,858,730,000  
Increase in valuation allowance 241,900,000 1,300,000,000 $ 434,500,000
Net operating loss carryforwards, U.S. federal 5,800,000,000    
Net operating loss carryforwards, state 5,100,000,000    
Net operating loss carryforwards, foreign 159,000,000    
Interest and penalties 0 $ 0 $ 0
Federal      
Tax Credit Carryforward [Line Items]      
Net operating loss carryforwards, not subject to expiration 5,700,000,000    
Net operating loss carryforward, subject to expiration 100,000,000    
Deferred tax assets, tax credit carryforward, subject to expiration 254,500,000    
Tax credits 254,500,000    
Foreign      
Tax Credit Carryforward [Line Items]      
Net operating loss carryforwards, not subject to expiration 150,200,000    
Net operating loss carryforward, subject to expiration 8,800,000    
State      
Tax Credit Carryforward [Line Items]      
Tax credits 112,500,000    
Deferred tax assets, tax credit carryforward, not subject to expiration $ 112,500,000    
v3.23.1
Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Beginning balance $ 57,715 $ 19,349 $ 4,057
Increases based on tax positions during the prior period 1,816 20 35
Increases based on tax positions during the current period 15,649 38,346 15,257
Ending balance $ 75,180 $ 57,715 $ 19,349
v3.23.1
Net Loss per Share - Schedule of Basic and Diluted Net Loss per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Earnings Per Share [Abstract]      
Net loss $ (797,526) $ (679,948) $ (539,102)
Less: net loss attributable to noncontrolling interest (821) 0 0
Net loss attributable to Snowflake Inc. $ (796,705) $ (679,948) $ (539,102)
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic (in shares) [1] 318,730 300,273 141,613
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—diluted (in shares) [1] 318,730 300,273 141,613
Net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic (in dollars per share) [1] $ (2.50) $ (2.26) $ (3.81)
Net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—diluted (in dollars per share) [1] $ (2.50) $ (2.26) $ (3.81)
[1] On March 1, 2021, all shares of the Company’s then-outstanding Class B common stock were automatically converted into the same number of shares of Class A common stock, pursuant to the terms of the Company’s amended and restated certificate of incorporation. No additional shares of Class B common stock will be issued following such conversion. See Note 12 for further details.
v3.23.1
Net Loss per Share - Schedule of Potentially Dilutive Securities Excluded from Computation of Net Loss per Share (Details) - shares
shares in Thousands
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
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) 52,125 52,197 75,126
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) 35,854 42,043 64,575
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) 15,560 9,612 9,349
Unvested restricted common stock and early exercised 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) 446 426 988
Employee stock purchase rights under the 2020 ESPP      
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) 265 116 214
v3.23.1
Related Party Transactions (Details)
$ in Millions
 1 Months Ended
Dec. 31, 2020
USD ($)
shareholder
member
Related Party Transaction [Line Items]  
Number of minority investment holders | shareholder 2
Number of board of director members | member 2
Snowflake Inc  
Related Party Transaction [Line Items]  
Minority investor, strategic investment | $ $ 20.0
Noncontrolling interests, voting right percentage 5.00%
v3.23.1
Subsequent Events (Details) - USD ($)
$ in Thousands
 12 Months Ended
Feb. 10, 2023
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Feb. 28, 2023
Subsequent Event [Line Items]          
Payments to acquire businesses, net of cash acquired   $ 362,609 $ 0 $ 6,035  
Subsequent Event          
Subsequent Event [Line Items]          
Stock repurchase program, authorized amount         $ 2,000,000
Mountain US Corporation | Subsequent Event          
Subsequent Event [Line Items]          
Payments to acquire businesses, net of cash acquired $ 67,000        
LeapYear | Subsequent Event          
Subsequent Event [Line Items]          
Payments to acquire businesses, net of cash acquired $ 59,000