SNOWFLAKE INC., 10-K filed on 3/26/2024
Annual Report
v3.24.1
Cover - USD ($)
shares in Millions, $ in Billions
 12 Months Ended
Jan. 31, 2024
Mar. 15, 2024
Jul. 31, 2023
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Jan. 31, 2024    
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 No    
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    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 56.6
Entity Common Stock, Shares Outstanding   334.2  
Documents Incorporated by Reference
Portions of the registrant's definitive Proxy Statement relating to the 2024 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, 2024.
    
Entity Central Index Key 0001640147    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.24.1
Audit Information
 12 Months Ended
Jan. 31, 2024
Audit Information [Abstract]  
Auditor name PricewaterhouseCoopers LLP
Auditor location San Jose, California
Auditor firm ID 238
v3.24.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Current assets:    
Cash and cash equivalents $ 1,762,749 $ 939,902
Short-term investments 2,083,499 3,067,966
Accounts receivable, net 926,902 715,821
Deferred commissions, current 86,096 67,901
Prepaid expenses and other current assets 180,018 193,100
Total current assets 5,039,264 4,984,690
Long-term investments 916,307 1,073,023
Property and equipment, net 247,464 160,823
Operating lease right-of-use assets 252,128 231,266
Goodwill 975,906 657,370
Intangible assets, net 331,411 186,013
Deferred commissions, non-current 187,093 145,286
Other assets 273,810 283,851
Total assets 8,223,383 7,722,322
Current liabilities:    
Accounts payable 51,721 23,672
Accrued expenses and other current liabilities 446,860 269,069
Operating lease liabilities, current 33,944 27,301
Deferred revenue, current 2,198,705 1,673,475
Total current liabilities 2,731,230 1,993,517
Operating lease liabilities, non-current 254,037 224,357
Deferred revenue, non-current 14,402 11,463
Other liabilities 33,120 24,370
Total liabilities 3,032,789 2,253,707
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, 2024 and 2023 0 0
Common stock; $0.0001 par value per share; 2,500,000 Class A shares authorized, 334,453 and 323,305 shares issued and outstanding as of January 31, 2024 and 2023, respectively (excluding 200 shares and zero shares of treasury stock held by a wholly-owned subsidiary as of January 31, 2024 and 2023, respectively(1)); 185,461 Class B shares authorized, zero shares issued and outstanding as of each January 31, 2024 and 2023 [1] 34 32
Treasury stock, at cost; 492 shares and zero shares held as of January 31, 2024 and 2023, respectively (67,140) 0
Additional paid-in capital 9,331,238 8,210,750
Accumulated other comprehensive loss (8,220) (38,272)
Accumulated deficit (4,075,604) (2,716,074)
Total Snowflake Inc. stockholders’ equity 5,180,308 5,456,436
Noncontrolling interest 10,286 12,179
Total stockholders’ equity 5,190,594 5,468,615
Total liabilities and stockholders’ equity $ 8,223,383 $ 7,722,322
[1] In connection with a business combination completed on December 20, 2023, the Company issued approximately 0.2 million shares of its Class A common stock to one of its wholly-owned subsidiaries, in exchange for a noncontrolling equity interest in the acquired company that was held by the subsidiary prior to this business combination. These shares are treated as treasury stock for accounting purposes. See Note 7, “Business Combinations,” for further details.
v3.24.1
CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 200,000,000 200,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Treasury stock (in shares) 492,000 0
Investing Subsidiary | Samooha, Inc.    
Business acquisition, equity interest issued or issuable (in shares) 200,000  
Class A Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,500,000,000 2,500,000,000
Common stock, shares issued (in shares) 334,453,000 323,305,000
Common stock, shares outstanding (in shares) 334,453,000 323,305,000
Class A Common Stock | Investing Subsidiary    
Treasury stock (in shares) 200,000 0
Class B Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 185,461,000 185,461,000
Common stock, shares issued (in shares) 0 0
Common stock, shares outstanding (in shares) 0 0
v3.24.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Income Statement [Abstract]      
Revenue $ 2,806,489 $ 2,065,659 $ 1,219,327
Cost of revenue 898,558 717,540 458,433
Gross profit 1,907,931 1,348,119 760,894
Operating expenses:      
Sales and marketing 1,391,747 1,106,507 743,965
Research and development 1,287,949 788,058 466,932
General and administrative 323,008 295,821 265,033
Total operating expenses 3,002,704 2,190,386 1,475,930
Operating loss (1,094,773) (842,267) (715,036)
Interest income 200,663 73,839 9,129
Other income (expense), net 44,887 (47,565) 28,947
Loss before income taxes (849,223) (815,993) (676,960)
Provision for (benefit from) income taxes (11,233) (18,467) 2,988
Net loss (837,990) (797,526) (679,948)
Less: net loss attributable to noncontrolling interest (1,893) (821) 0
Net loss attributable to Snowflake Inc. $ (836,097) $ (796,705) $ (679,948)
Net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic (in dollars per share) [1] $ (2.55) $ (2.50) $ (2.26)
Net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—diluted (in dollars per share) [1] $ (2.55) $ (2.50) $ (2.26)
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] 328,001 318,730 300,273
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] 328,001 318,730 300,273
[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 11, “Equity,” for further details.
v3.24.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net loss $ (837,990) $ (797,526) $ (679,948)
Other comprehensive income (loss):      
Foreign currency translation adjustments 0 (1,367) (918)
Net change in unrealized gains or losses on available-for-sale debt securities 30,760 (20,619) (15,807)
Other (708) 0 0
Total other comprehensive income (loss) 30,052 (21,986) (16,725)
Comprehensive loss (807,938) (819,512) (696,673)
Less: comprehensive loss attributable to noncontrolling interest (1,893) (821) 0
Comprehensive loss attributable to Snowflake Inc. $ (806,045) $ (818,691) $ (696,673)
v3.24.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Total Snowflake Inc. Stockholders’ Equity
Common Stock
Treasury Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Noncontrolling Interest
Beginning balance (in shares) at Jan. 31, 2021 [1]     287,918,000          
Beginning balance at Jan. 31, 2021 $ 4,936,471 $ 4,936,471 $ 28 [1] $ 0 $ 6,175,425 $ 439 $ (1,239,421) $ 0
Beginning balance, treasury stock (in shares) at Jan. 31, 2021       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] $ 0 6,984,669 (16,286) (1,919,369) 0
Ending balance, treasury stock (in shares) at Jan. 31, 2022       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] $ 0 8,210,750 (38,272) (2,716,074) 12,179
Ending balance, treasury stock (in shares) at Jan. 31, 2023 0     0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of common stock upon exercise of stock options (in shares) 8,357,000   8,355,000 [1]          
Issuance of common stock upon exercise of stock options $ 57,163 57,163 $ 1 [1]   57,162      
Issuance of common stock under employee stock purchase plan (in shares) [1]     516,000          
Issuance of common stock under employee stock purchase plan 61,234 61,234     61,234      
Issuance of common stock in connection with a business combination (in shares) [1],[2]     896,000          
Issuance of common stock in connection with a business combination [2] 174,284 174,284     174,284      
Issuance of common stock in connection with a business combination subject to future vesting (in shares) [1]     385,000          
Vesting of early exercised stock options 163 163     163      
Vesting of restricted stock units (in shares) [1]     6,804,000          
Vesting of restricted stock units 0 0 $ 1 [1]   (1)      
Shares withheld related to net share settlement of equity awards (in shares) [1]     (2,296,000)          
Shares withheld related to net share settlement of equity awards $ (387,596) (387,596)     (387,596)      
Repurchases of common stock as treasury stock (in shares) (500,000)     (500,000)        
Repurchases of common stock as treasury stock $ (68,299) (68,299)   $ (68,299)        
Repurchases and retirement of common stock (in shares) [1]     (3,512,000)          
Repurchases and retirement of common stock $ (523,433) (523,433)         (523,433)  
Reissuance of treasury stock upon settlement of equity awards (in shares) 8,000     8,000        
Reissuance of treasury stock upon settlement of equity awards $ 27 27   $ 1,159 (1,132)      
Stock-based compensation 1,216,374 1,216,374     1,216,374      
Other comprehensive income (loss) 30,052 30,052       30,052    
Net loss (837,990) (836,097)         (836,097) (1,893)
Ending balance (in shares) at Jan. 31, 2024 [1]     334,453,000          
Ending balance at Jan. 31, 2024 $ 5,190,594 $ 5,180,308 $ 34 [1] $ (67,140) $ 9,331,238 $ (8,220) $ (4,075,604) $ 10,286
Ending balance, treasury stock (in shares) at Jan. 31, 2024 (492,000)     (492,000)        
[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 11, “Equity,” for further details.
[2] In connection with a business combination completed on December 20, 2023, the Company issued approximately 0.2 million shares of its Class A common stock to one of its wholly-owned subsidiaries, in exchange for a noncontrolling equity interest in the acquired company that was held by the subsidiary prior to this business combination. These shares are treated as treasury stock for accounting purposes. See Note 7, “Business Combinations,” for further details.
v3.24.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (PARENTHETICAL) - shares
shares in Thousands
 12 Months Ended
Dec. 20, 2023
Jan. 31, 2024
Samooha, Inc. | Investing Subsidiary    
Business acquisition, equity interest issued or issuable (in shares) 200 200
v3.24.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Cash flows from operating activities:      
Net loss $ (837,990) $ (797,526) $ (679,948)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 119,903 63,535 21,498
Non-cash operating lease costs 52,892 46,240 35,553
Amortization of deferred commissions 74,787 57,445 37,876
Stock-based compensation, net of amounts capitalized 1,168,015 861,533 605,095
Net amortization (accretion) of premiums (discounts) on investments (61,525) 3,497 48,002
Net realized and unrealized losses (gains) on strategic investments in equity securities (46,809) 46,435 (27,621)
Deferred income tax (26,762) (26,664) (717)
Other 14,895 1,618 2,014
Changes in operating assets and liabilities, net of effects of business combinations:      
Accounts receivable (212,083) (166,965) (251,652)
Deferred commissions (134,787) (95,107) (95,877)
Prepaid expenses and other assets 59,795 (2,904) (159,159)
Accounts payable 19,212 8,024 7,371
Accrued expenses and other liabilities 171,048 74,519 79,772
Operating lease liabilities (40,498) (42,342) (38,249)
Deferred revenue 528,029 514,301 526,221
Net cash provided by operating activities 848,122 545,639 110,179
Cash flows from investing activities:      
Purchases of property and equipment (35,086) (25,128) (16,221)
Capitalized internal-use software development costs (34,133) (24,012) (12,772)
Cash paid for business combinations, net of cash, cash equivalents, and restricted cash acquired (275,706) (362,609) 0
Purchases of intangible assets (28,744) (700) (24,334)
Purchases of investments (2,476,206) (3,901,321) (4,250,338)
Sales of investments 11,266 58,813 440,069
Maturities and redemptions of investments 3,670,867 3,657,072 3,842,796
Net cash provided by (used in) investing activities 832,258 (597,885) (20,800)
Cash flows from financing activities:      
Proceeds from exercise of stock options 57,194 39,893 127,036
Proceeds from issuance of common stock under employee stock purchase plan 61,234 40,931 52,227
Taxes paid related to net share settlement of equity awards (380,799) (184,648) 0
Repurchases of common stock (591,732) 0 0
Capital contributions from noncontrolling interest holders 0 13,000 0
Payments of deferred purchase consideration for business combinations 0 (1,800) (1,065)
Net cash provided by (used in) financing activities (854,103) (92,624) 178,198
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (2,031) (933) (236)
Net increase (decrease) in cash, cash equivalents, and restricted cash 824,246 (145,803) 267,341
Cash, cash equivalents, and restricted cash—beginning of period 956,731 1,102,534 835,193
Cash, cash equivalents, and restricted cash—end of period 1,780,977 956,731 1,102,534
Supplemental disclosures of cash flow information:      
Cash paid for income taxes 12,452 6,550 1,482
Supplemental disclosures of non-cash investing and financing activities      
Property and equipment included in accounts payable and accrued expenses 17,463 6,317 5,115
Stock-based compensation included in capitalized software development costs 48,181 28,467 23,620
Issuance of common stock in connection with business combinations 174,284 438,916 0
Unpaid taxes related to net share settlement of equity awards included in accrued expenses and other current liabilities 6,850 53 0
Reconciliation of cash, cash equivalents, and restricted cash:      
Cash and cash equivalents 1,762,749 939,902 1,085,729
Restricted cash—included in other assets and prepaid expenses and other current assets 18,228 16,829 16,805
Total cash, cash equivalents, and restricted cash $ 1,780,977 $ 956,731 $ 1,102,534
v3.24.1
Organization and Description of Business
 12 Months Ended
Jan. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Description of Business Organization and Description of Business
Snowflake Inc. (Snowflake or the Company) provides a cloud-based data platform, which enables customers to consolidate data into a single source of truth to drive meaningful insights, apply AI to solve business problems, build data applications, and share data and data products. The Company provides its platform through a customer-centric, consumption-based business model, only charging customers for the resources they use. Through its platform, the Company delivers the 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.
v3.24.1
Basis of Presentation and Summary of Significant Accounting Policies
 12 Months Ended
Jan. 31, 2024
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 2024 refer to the fiscal year ended January 31, 2024.

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, “Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations.”

The following table presents the Company’s long-lived assets, comprising property and equipment, net and operating lease right-of-use assets, by geographic area (in thousands):
January 31, 2024January 31, 2023
United States$379,664 $329,275 
Other(1)
119,928 62,814 
Total$499,592 $392,089 
________________
(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, 2024 and 2023.
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 foreign currency forward contracts. The Company maintains its cash, cash equivalents, investments in marketable securities, restricted cash and 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, “Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations.”

Foreign Currency

The reporting currency of the Company is the U.S. dollar. The functional currency of the Company’s foreign subsidiaries is primarily the U.S. dollar.

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 customers with lower usage levels or 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 3%, 2%, and 3% of the Company’s revenue for the fiscal years ended January 31, 2024, 2023, and 2022, 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, 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, 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 the deployment and maintenance of the platform on public clouds, including different regional deployments, and (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. Cost of revenue also includes amortization of capitalized internal-use software development costs, amortization of acquired intangible assets, costs of contracted third-party partners for professional services, 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 capitalized 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, amortization of acquired intangible assets, 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 $85.3 million, $68.2 million, and $57.5 million for the fiscal years ended January 31, 2024, 2023, and 2022, 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’s equity awards include stock options, restricted stock unit awards (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. Equity awards are reviewed in determining whether such awards are equity-classified or liability-classified.

Stock-based compensation related to equity-classified awards is measured based on the estimated fair value of the awards on the date of grant and generally recognized on a straight-line basis over the requisite service period. 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. For equity-classified awards with both service-based and performance-based vesting conditions, the stock-based compensation is recognized using an accelerated attribution method over the requisite service period, based on the Company’s periodic assessment of the probability that the performance condition will be achieved.

Certain RSUs with both service-based and performance-based vesting conditions are liability-classified, as the monetary value of the obligation under each potential outcome of the performance condition is predominantly based on a fixed monetary amount known at inception and will be settled in a variable number of the Company’s common stock. The fair value of these awards is estimated using the Monte Carlo simulation model, which requires the use of various assumptions, including the expected stock price volatility and risk-free interest rate. These awards are subsequently remeasured to the fair value at each reporting date until the number of these awards eligible to vest is fixed, at which time these awards will be reclassified to equity. Stock-based compensation associated with these awards is recognized based on the probable outcome of the performance condition, using an accelerated attribution method over the requisite service period, with a cumulative catch-up adjustment recognized for changes in the fair value estimated at each reporting date.

If an award contains a provision whereby vesting is accelerated upon a change in control, such 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 11, “Equity,” 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 considers unvested common stock to be participating securities, as the holders of such stock have the right to receive nonforfeitable dividends on a pari passu basis in the event that a dividend is declared on common stock.

Basic net loss per share attributable to Snowflake Inc. common stockholders is computed by dividing net loss attributable to Snowflake Inc. common stockholders by the weighted-average number of shares of Snowflake Inc. common stock outstanding during the period, which excludes treasury stock. Diluted net loss per share attributable to Snowflake Inc. common stockholders is computed by giving effect to all potentially dilutive Snowflake Inc. common stock equivalents to the extent they are dilutive. For purposes of this calculation, stock options, RSUs, restricted common stock, ESPP Rights, and early exercised stock options 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, derivative assets and liabilities, 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, “Fair Value Measurements,” for information regarding the fair value of the Company’s investments in marketable securities, strategic investments, and derivative assets and liabilities.

Derivative Financial Instruments

The Company’s derivative financial instruments, which are carried at fair value on the consolidated balance sheets, consist of foreign currency forward contracts as described below:

Non-Designated Hedges—The Company utilizes foreign currency forward contracts to manage its exposure to certain foreign currency exchange risks primarily associated with (i) a portion of its net outstanding monetary assets and liabilities positions and (ii) certain intercompany balances denominated in currencies other than the U.S. dollar. These foreign currency forward contracts have maturities of twelve months or less and are not designated as hedging instruments (Non-Designated Hedges). 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 balances being hedged. Cash flows at settlement of such foreign currency forward contracts are classified as operating activities in the consolidated statement of cash flows.
Cash Flow Hedge—During the fiscal year ended January 31, 2024, the Company began utilizing foreign currency forward contracts to manage the volatility in cash flows associated with (i) certain forecasted capital expenditures and (ii) a portion of its forecasted operating expenses denominated in certain currencies other than the U.S. dollar. These foreign currency forward contracts have a maturity of twelve months or less and are designated and qualify as cash flow hedges, and, in general, closely match the underlying hedged forecasted transactions in duration. The effectiveness of the cash flow hedges is assessed quantitatively using regression at inception and at each reporting date. The effective portion of these foreign currency forward contracts’ gains and losses resulting from changes in fair value is recorded in accumulated other comprehensive income (loss) on the consolidated balance sheets, and subsequently reclassified into the same line items on the Company’s consolidated statements of operations as the underlying hedged forecasted transactions in the same period that such transactions affect earnings. In the event the underlying forecasted transactions do not occur, or it becomes probable that they will not occur within the defined hedge period, the gains or losses on the related cash flow hedges are reclassified immediately from accumulated other comprehensive income (loss) to net income (loss) in the Company’s consolidated financial statements. Cash flows from such foreign currency forward contracts are classified in the same category on the Company’s consolidated statements of cash flows as the cash flows from the underlying hedged forecasted transactions.

These derivative financial instruments did not have a material impact on the Company’s consolidated financial statements for any period presented.

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.

Capitalized 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. Cost and accumulated amortization of fully amortized capitalized internal-use software development costs are removed from the consolidated balance sheets when the related software is no longer in use. 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. Cost and accumulated depreciation and amortization of fully depreciated property and equipment are removed from the consolidated balance sheets when they are no longer in use.
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. A portion of the sales commissions paid to the sales force is earned based on the level of the customers’ consumption of the Company’s platform, and a portion of the commissions paid to the sales force is earned upon the origination of the customer contracts. 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.

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 consideration 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 Issued Accounting Pronouncements Not Yet Adopted
In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit and loss, and an amount for other segment items by reportable segment and a description of its composition. This guidance also requires disclosures on the title and position of the chief operating decision maker and an explanation of how the chief operating decision maker uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources, and interim disclosures of reportable segment’s profit or loss and assets. This guidance is effective for the Company for its fiscal year beginning February 1, 2024 and interim periods within its fiscal year beginning February 1, 2025 on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires annual disclosure on disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. This guidance is effective for the Company for its fiscal year beginning February 1, 2025 on a prospective basis. Early adoption and retrospective application are permitted. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and disclosures.

Recent Securities and Exchange Commission (SEC) Final Rules Not Yet Adopted

In March 2024, the SEC adopted final rules under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors, which requires registrants to provide certain climate-related information in their registration statements and annual reports. The rules require information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations, or financial condition. The required information about climate-related risks will also include disclosure of a registrant's greenhouse gas emissions. In addition, the rules will require registrants to present certain climate-related financial metrics in their audited financial statements. These requirements are effective for the Company in various fiscal years, starting with its fiscal year beginning February 1, 2025. Disclosures will be required prospectively, with information for prior periods required only to the extent it was previously disclosed in an SEC filing. The Company is currently evaluating the impact of these final rules on its consolidated financial statements and disclosures.
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Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
 12 Months Ended
Jan. 31, 2024
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,
202420232022
Product revenue$2,666,849 $1,938,783 $1,140,469 
Professional services and other revenue139,640 126,876 78,858 
Total$2,806,489 $2,065,659 $1,219,327 
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,
202420232022
Americas:
United States$2,166,448 $1,633,843 $977,077 
Other Americas(1)
72,784 46,577 26,324 
EMEA(1)(2)
432,634 292,666 169,268 
Asia-Pacific and Japan(1)
134,623 92,573 46,658 
Total$2,806,489 $2,065,659 $1,219,327 
________________
(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, 2024 and 2023, allowance for credit losses of $2.5 million and $2.2 million, respectively, was included in the Company’s accounts receivable, net balance.

Significant Customers

For purposes of assessing the concentration of credit risk and significant customers, a group of customers under common control or customers that are affiliates of each other are regarded as a single customer. As of January 31, 2024 and 2023, 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, 2024, 2023, and 2022.

Deferred Revenue

The Company recognized $1.4 billion, $974.3 million, and $535.8 million of revenue for the fiscal years ended January 31, 2024, 2023, and 2022, respectively, from the deferred revenue balances as of January 31, 2023, 2022, and 2021, 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, 2024, the Company’s RPO was $5.2 billion, of which the Company expects approximately 50% to be recognized as revenue in the twelve months ending January 31, 2025 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.
v3.24.1
Cash Equivalents and Investments
 12 Months Ended
Jan. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Investments Cash Equivalents and Investments
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the consolidated balance sheets (in thousands):
January 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
U.S. government securities$742,235 $1 $(2)$742,234 
Money market funds533,211 — — 533,211 
Time deposits56,263 — — 56,263 
Total cash equivalents1,331,709 1 (2)1,331,708 
Investments:
Corporate notes and bonds1,549,151 1,959 (3,394)1,547,716 
U.S. government and agency securities877,496 574 (4,653)873,417 
Commercial paper353,525 154 (131)353,548 
Certificates of deposit224,869 271 (15)225,125 
Total investments3,005,041 2,958 (8,193)2,999,806 
Total cash equivalents and investments$4,336,750 $2,959 $(8,195)$4,331,514 

January 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds(1)
$520,138 $— $— $520,138 
Commercial paper9,305 — (1)9,304 
Corporate notes and bonds6,902 1 — 6,903 
Certificates of deposit3,045 — (1)3,044 
Total cash equivalents(1)
539,390 1 (2)539,389 
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(1)
$4,716,373 $2,754 $(38,749)$4,680,378 
________________
(1)Includes a reclassification of $141.0 million from cash to cash equivalents for the money market funds balance as of January 31, 2023, as presented in the Annual Report on Form 10-K filed with the SEC on March 29, 2023. Such reclassification did not impact the Company’s consolidated balance sheet as of January 31, 2023 or its consolidated statement of cash flows for the fiscal year ended January 31, 2023.

The Company included $24.2 million and $19.4 million of interest receivable in prepaid expenses and other current assets on the consolidated balance sheets as of January 31, 2024 and 2023, respectively. The Company did not recognize an allowance for credit losses against interest receivable as of January 31, 2024 and 2023 because such potential losses were not material.

As of January 31, 2024, the contractual maturities of the Company’s available-for-sale marketable debt securities did not exceed 36 months. The estimated fair values of available-for-sale marketable debt securities, classified as short-term or long-term investments on the Company’s consolidated balance sheets, by remaining contractual maturity, is as follows (in thousands):
January 31, 2024
Estimated
Fair Value
Due within 1 year$2,083,499 
Due in 1 year to 3 years916,307 
Total$2,999,806 

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, 2024
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
U.S. government securities$338,893 $(2)$— $— $338,893 $(2)
Total cash equivalents338,893 (2)— — 338,893 (2)
Investments:
Corporate notes and bonds625,766 (1,259)321,952 (2,135)947,718 (3,394)
U.S. government and agency securities525,408 (1,323)191,863 (3,330)717,271 (4,653)
Commercial paper172,422 (131)— — 172,422 (131)
Certificates of deposit71,813 (15)— — 71,813 (15)
Total investments1,395,409 (2,728)513,815 (5,465)1,909,224 (8,193)
Total cash equivalents and investments$1,734,302 $(2,730)$513,815 $(5,465)$2,248,117 $(8,195)

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)

For available-for-sale marketable debt securities with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis. The decline in fair values of these securities due to credit related factors was not material as of January 31, 2024 and 2023.
See Note 5, “Fair Value Measurements,” for information regarding the Company’s strategic investments.
v3.24.1
Fair Value Measurements
 12 Months Ended
Jan. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

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

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

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

The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of January 31, 2024 (in thousands):

Level 1
Level 2
Total
Assets:
Cash equivalents:
U.S. government securities$— $742,234 $742,234 
Money market funds533,211 — 533,211 
Time deposits— 56,263 56,263 
Short-term investments:
Corporate notes and bonds— 939,727 939,727 
U.S. government and agency securities— 573,780 573,780 
Commercial paper— 353,548 353,548 
Certificates of deposit— 216,444 216,444 
Long-term investments:
Corporate notes and bonds— 607,989 607,989 
U.S. government and agency securities— 299,637 299,637 
Certificates of deposit— 8,681 8,681 
Derivative assets:
Foreign currency forward contracts
— 60 60 
Total assets
$533,211 $3,798,363 $4,331,574 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts
$— $(745)$(745)
Total liabilities
$— $(745)$(745)
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(1)
$520,138 $— $520,138 
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(1)
$520,138 $4,160,240 $4,680,378 
________________
(1)Includes a reclassification of $141.0 million from cash to cash equivalents for the money market funds balance as of January 31, 2023, as presented in the Annual Report on Form 10-K filed with the SEC on March 29, 2023. Such reclassification did not impact the Company’s consolidated balance sheet as of January 31, 2023 or its consolidated statement of cash flows for the fiscal year ended January 31, 2023.

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, 2024January 31, 2023
Equity securities:
Non-marketable equity securities under Measurement Alternative$190,238 $174,248 
Non-marketable equity securities under equity method5,307 5,066 
Marketable equity securities37,320 22,122 
Debt securities:
Non-marketable debt securities1,500 1,500 
Total strategic investments—included in other assets$234,365 $202,936 

The following table summarizes the realized and unrealized gains and losses included in the carrying value of the Company’s strategic investments in equity securities held as of January 31, 2024 (in thousands):

Fiscal Year Ended January 31,
202420232022
Unrealized gains (losses) on non-marketable equity securities under Measurement Alternative:
Upward adjustments$— $4,125 $32,975 
Impairments(3,101)(38,036)— 
Net unrealized gains (losses) on marketable equity securities
15,197 (12,524)(5,354)
Net unrealized gains (losses) on strategic investments in equity securities
12,096 (46,435)27,621 
Realized gains on non-marketable equity securities under Measurement Alternative(1)
34,713 — — 
Total—included in other income (expense), net$46,809 $(46,435)$27,621 
________________
(1)Includes primarily a remeasurement gain of $34.0 million recognized on a previously held equity interest as a result of a business combination completed during the fiscal year ended January 31, 2024. See Note 7, “Business Combinations,” for further details.

The cumulative upward adjustments and the cumulative impairments to the carrying value of the non-marketable equity securities accounted for using the Measurement Alternative held by the Company as of January 31, 2024 were $37.1 million and $41.1 million, respectively.
v3.24.1
Property and Equipment, Net
 12 Months Ended
Jan. 31, 2024
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, 2024January 31, 2023
Leasehold improvements$67,804 $59,872 
Computers, equipment, and software29,859 20,050 
Furniture and fixtures17,593 14,800 
Capitalized internal-use software development costs93,222 44,059 
Construction in progress—capitalized internal-use software development costs78,737 61,575 
Construction in progress—other34,890 7,313 
Total property and equipment, gross322,105 207,669 
Less: accumulated depreciation and amortization(1)
(74,641)(46,846)
Total property and equipment, net$247,464 $160,823 
________________
(1)Includes $30.0 million and $19.9 million of accumulated amortization related to capitalized internal-use software development costs as of January 31, 2024 and 2023, respectively.
Depreciation and amortization expense was $37.7 million, $24.7 million, and $13.7 million for the fiscal years ended January 31, 2024, 2023, and 2022, respectively. Included in these amounts was the amortization of capitalized internal-use software development costs of $19.0 million, $10.2 million, and $4.2 million for the fiscal years ended January 31, 2024, 2023, and 2022, respectively.

During the fiscal year ended January 31, 2024, the Company recognized impairment charges of $7.1 million related to its capitalized internal-use software development costs previously included in construction in-progress that were no longer probable of being completed. Such impairment charges were recorded as research and development expenses on the consolidated statements of operations. Impairment charges related to capitalized internal-use software development costs recognized during the fiscal years ended January 31, 2023 and 2022 were not material.
v3.24.1
Business Combinations
 12 Months Ended
Jan. 31, 2024
Business Combination and Asset Acquisition [Abstract]  
Business Combinations Business Combinations
Fiscal 2024

Samooha, Inc.

On December 20, 2023, the Company acquired all outstanding stock of Samooha, Inc. (Samooha), a privately-held company which developed data clean room technology that enabled multiple parties to securely collaborate on sensitive data. The Company acquired Samooha for its talent and developed technology. The Company has accounted for this transaction as a business combination.

Prior to this business combination, the Company, via one of its wholly-owned subsidiaries (the Investing Subsidiary), held a noncontrolling equity interest in Samooha, which was accounted for using the Measurement Alternative with a carrying amount of $4.8 million (the Previously Held Equity Interest). In connection with this business combination, the Company remeasured the Previously Held Equity Interest at the date of the acquisition and recognized a gain of $34.0 million, which was recorded in other income (expense), net on the Company’s consolidated statement of operations for the fiscal year ended January 31, 2024.

The acquisition date fair value of the preliminary purchase consideration was $219.0 million, which was comprised of the following (in thousands):

Estimated Fair Value
Cash$5,761 
Deferred cash consideration
231 
Common stock(1)
174,225 
Fair value of previously held equity interest(2)
38,818 
Total
$219,035 
________________
(1)Approximately 0.9 million shares of the Company’s Class A common stock, issued to selling stockholders that were not affiliated with the Company, were included in the purchase consideration, and the fair values of these shares were determined based on the closing market price of $194.28 per share on the acquisition date.
(2)In connection with this business combination, the Company issued approximately 0.2 million shares of its Class A common stock to the Investing Subsidiary in exchange for the Previously Held Equity Interest. The fair values of these shares were determined based on the closing market price of $194.28 per share on the acquisition date. These shares are treated as treasury stock for accounting purposes.

In connection with this business combination, the Company also issued to certain of Samooha’s employees a total of 0.4 million shares of the Company’s Class A common stock in exchange for a portion of their Samooha stock. These shares are subject to vesting agreements pursuant to which the shares will vest over four years, subject to each of these employees’ continued employment with the Company or its affiliates. The $74.8 million fair value of these shares is accounted for as post-combination stock-based compensation over the requisite service period of four years. In addition, the Company agreed to grant under its 2020 Equity Incentive Plan certain RSUs that contain both post-combination service-based and performance-based vesting conditions to eligible existing or future employees. See Note 11, “Equity,” for further discussion.
The following table summarizes the preliminary allocation of purchase consideration to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents
$9,589 
Goodwill189,838 
Developed technology intangible asset
25,000 5
Other net tangible liabilities
(345)
Deferred tax liabilities, net(1)
(5,047)
Total$219,035 
________________
(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 discounted cash flow method, which utilizes assumptions including projected future revenue generated from the acquired developed technology, projected profit margin, discount rate, and technology migration curve.

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

Neeva Inc.

During the three months ended July 31, 2023, the Company acquired all outstanding stock of Neeva Inc. and its equity investee (collectively, Neeva), for $185.4 million in cash. The Company acquired Neeva 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, 2024, 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$43,968 
Goodwill63,138 
Developed technology intangible assets83,000 5
Other net tangible liabilities(790)
Deferred tax liabilities, net(1)
(3,889)
Total$185,427 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.

The fair values of the developed technology intangible assets were 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 values of identifiable net assets acquired was recorded as goodwill, which is not deductible for income tax purposes. The Company believes the goodwill balance associated with this business combination represents the synergies expected from expanded market opportunities when integrating the acquired developed technologies with the Company’s offerings.
Mountain US Corporation (formerly known as Mobilize.Net Corporation)

On February 10, 2023, the Company acquired all outstanding stock of Mountain US Corporation (formerly known as Mobilize.Net Corporation) (Mountain), a privately-held company which provided a suite of tools for efficiently migrating databases to the Data Cloud, for $76.3 million in cash. The Company acquired Mountain 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, 2024, 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$11,594 
Goodwill46,426 
Developed technology intangible asset33,000 
5
Other net tangible liabilities(6,623)
Deferred tax liabilities, net(1)
(8,136)
Total$76,261 
________________
(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 values of identifiable net assets acquired was recorded as goodwill, which is not deductible for income tax purposes. The Company believes the goodwill balance associated with this business combination represents the synergies expected from strengthening enablement capabilities and the acceleration of legacy migrations to the Data Cloud, as well as expanding the Company’s professional services footprint.

LeapYear Technologies, Inc.

On February 10, 2023, the Company acquired all outstanding stock of LeapYear Technologies, Inc. (LeapYear), a privately-held company which provided a differential privacy platform, for $62.0 million in cash. The Company acquired LeapYear 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, 2024, 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, cash equivalents, and restricted cash$3,563 
Goodwill9,029 
Developed technology intangible asset53,000 
5
Other net tangible liabilities(1,434)
Deferred tax liabilities, net(1)
(2,150)
Total$62,008 
________________
(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 values of identifiable net assets acquired was recorded as goodwill, which is not deductible for income tax purposes. The Company believes the goodwill balance associated with this business combination represents the synergies expected from expanded market opportunities when integrating the acquired developed technologies with the Company’s offerings.

Other Business Combination

During the fiscal year ended January 31, 2024, the Company acquired all outstanding stock of a privately-held company for $16.6 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 $1.6 million of cash acquired, $4.9 million as a developer community intangible asset (to be amortized over an estimated useful life of five years), and $10.1 million as goodwill, which is not deductible for income tax purposes.

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

Acquisition-related costs, recorded as general and administrative expenses, associated with each of the business combinations above were not material during the fiscal year ended January 31, 2024.

From the respective dates of acquisition through January 31, 2024, revenue attributable to each of the companies acquired in fiscal 2024, included in the Company’s consolidated statements of operations for the fiscal year ended January 31, 2024 was not material. It was impracticable to determine the effect on the Company’s net loss attributable to each of the companies acquired in fiscal 2024 as these operations have been integrated into the Company’s ongoing operations since the respective dates of acquisition.
Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information summarizes the combined results of operations of the Company, and both of Samooha and Neeva, as if each had been acquired as of February 1, 2022 (in thousands):

Pro Forma
Fiscal Year Ended January 31,
20242023
(unaudited)
Revenue$2,806,739 $2,065,730 
Net loss$(932,308)$(937,873)

The pro forma financial information for all periods presented above has been calculated after adjusting the results of operations of Samooha and Neeva 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, Samooha, and Neeva as though these business combinations occurred as of February 1, 2022, the beginning of the Company’s fiscal 2023. The historical consolidated financial information in the unaudited pro forma table above has been adjusted in the pro forma combined financial results to give effect to pro forma events that are directly attributable to 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 these business combinations had taken place as of February 1, 2022.

Pro forma financial information has not been presented as the effects of each of the Mountain, LeapYear, and other fiscal 2024 business combinations were not material to the Company’s consolidated financial statements.

Fiscal 2023

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 provided 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 allocated to assets acquired and liabilities assumed based on their respective estimated fair values. The 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 values 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 general and administrative expenses during the fiscal year ended January 31, 2023.

Streamlit, Inc.

On March 31, 2022, the Company acquired all outstanding stock of Streamlit, Inc. (Streamlit), a privately-held company which provided 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 is accounted for as post-combination stock-based compensation over the requisite service period of three years. See Note 11, “Equity,” for further discussion.

The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective estimated fair values. The 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 fair values of identifiable net assets acquired was recorded as goodwill, which is not deductible for income tax purposes. The Company believes the goodwill balance associated with this business combination represents the synergies expected from expanded market opportunities when integrating the acquired developed technologies with the Company’s offerings.

Acquisition-related costs of $1.9 million associated with this business combination were recorded as general and administrative expenses during 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 values of net tangible and identifiable assets acquired was recorded as goodwill. The Company believes the goodwill balance associated with this business combination is primarily attributed to the assembled workforce and expected synergies arising from the acquisition.

Acquisition-related costs, recorded as general and administrative expenses, associated with this business combination were not material for the fiscal year ended January 31, 2023.

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 these business combinations had taken place as of February 1, 2021.
v3.24.1
Intangible Assets and Goodwill
 12 Months Ended
Jan. 31, 2024
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, 2024
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$243,596 $(47,919)$195,677 
Developer community154,900 (55,442)99,458 
Assembled workforce55,732 (22,945)32,787 
Patents8,874 (6,211)2,663 
Total finite-lived intangible assets$463,102 $(132,517)$330,585 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$331,411 

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 

During the fiscal year ended January 31, 2024, in addition to the developed technology and developer community intangible assets acquired in connection with fiscal 2024 business combinations, the Company also acquired $27.5 million of intangible assets, primarily consisting of assembled workforce intangible assets with a useful life of four years. Intangible assets acquired during the fiscal year ended January 31, 2023 consisted primarily of developer community and developed technology intangible assets acquired in connection with fiscal 2023 business combinations. See Note 7, “Business Combinations,” for further details.

Amortization expense of intangible assets was $82.2 million, $38.8 million, and $7.8 million for the fiscal years ended January 31, 2024, 2023, and 2022, respectively.
As of January 31, 2024, future amortization expense is expected to be as follows (in thousands):

Amount
Fiscal Year Ending January 31,
2025$94,777 
202688,519 
202784,366 
202851,800 
202911,123 
Thereafter—
Total$330,585 
Goodwill

Changes in goodwill were as follows (in thousands):

Amount
Balance—January 31, 2022
$8,449 
Additions and related adjustments(1)
648,921 
Balance—January 31, 2023
657,370 
Additions and related adjustments(1)
318,536 
Balance—January 31, 2024
$975,906 
________________
(1)Includes measurement period adjustments related to the preliminary fair values of the assets acquired and liabilities assumed in business combinations. These adjustments did not have a material impact on goodwill. See Note 7, “Business Combinations,” for further details.
v3.24.1
Accrued Expenses and Other Current Liabilities
 12 Months Ended
Jan. 31, 2024
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, 2024January 31, 2023
Accrued compensation$205,056 $123,173 
Accrued third-party cloud infrastructure expenses48,571 35,093 
Employee contributions under employee stock purchase plan40,641 36,648 
Liabilities associated with sales, marketing and business development programs39,571 24,218 
Accrued taxes37,108 20,003 
Employee payroll tax withheld on employee stock transactions22,479 592 
Accrued professional services9,274 11,776 
Accrued purchases of property and equipment4,508 3,876 
Other39,652 13,690 
Total accrued expenses and other current liabilities$446,860 $269,069 
v3.24.1
Commitment and Contingencies
 12 Months Ended
Jan. 31, 2024
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,
202420232022
Operating lease costs$52,892 $46,240 $35,745 
Variable lease costs11,667 7,906 6,029 
Sublease income(11,943)(12,782)(12,722)
Total lease costs$52,616 $41,364 $29,052 

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,
202420232022
Cash payments (receipts) included in the measurement of operating lease liabilities—operating cash flows
$40,498 $42,342 $38,249 
Operating lease liabilities arising from obtaining right-of-use assets$56,037 $72,158 $28,314 

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

January 31, 2024January 31, 2023
Weighted-average remaining lease term (years)
7.58.2
Weighted-average discount rate
6.1 %6.5 %

The total remaining lease payments under non-cancelable operating leases and lease receipts for subleases as of January 31, 2024 were as follows (in thousands):

Operating Leases
Subleases
Total
Fiscal Year Ending January 31,
2025$46,530 $(7,709)$38,821 
202647,944 (5,774)42,170 
202746,651 (5,960)40,691 
202845,132 (6,153)38,979 
202943,001 (6,351)36,650 
Thereafter136,207 (3,235)132,972 
Total lease payments (receipts)
$365,465 $(35,182)$330,283 
Less: imputed interest(77,484)
Present value of operating lease liabilities$287,981 

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, 2024 are presented in the table below (in thousands):

Amount
Fiscal Year Ending January 31,
2025$498,704 
2026528,063 
2027563,994 
2028656,162 
20291,176,725 (1)(2)
Thereafter—
Total$3,423,648 
________________
(1)Includes $929.5 million of remaining non-cancelable contractual commitments as of January 31, 2024 related to one of the Company’s third-party cloud infrastructure agreements, under which the Company committed to spend an aggregate of at least $1.0 billion between June 2023 and May 2028 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 May 2028 and such payment can be applied to qualifying expenditures for cloud infrastructure services for up to twelve months after May 2028.
(2)Also includes $247.2 million of remaining non-cancelable contractual commitments as of January 31, 2024 related to another one of the Company’s third-party cloud infrastructure agreements, under which the Company committed to spend an aggregate of at least $250.0 million between January 2024 and December 2028 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 2028.

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, 2024, 2023, and 2022.

Legal Matters—On March 23, 2021, a former employee filed a charge with the National Labor Relations Board (the NLRB) claiming that he was terminated in retaliation for engaging in concerted activity protected under the National Labor Relations Act. On September 15, 2023, following a hearing before a NLRB administrative law judge, the administrative law judge issued his ruling in favor of the former employee and ordered that he be awarded certain compensatory and other damages.

The Company is appealing the ruling to the Board of the NLRB. The Company believes it is reasonably possible that a loss could ultimately result from an unfavorable outcome and that an estimate of the potential range of loss is between zero and $25 million, plus interest. No material loss accrual was recorded in the Company’s consolidated balance sheet as of January 31, 2024, because management believes the likelihood of material loss resulting from this charge is not probable given the further appellate proceedings that are due to take place.

In addition, the Company is involved from time to time in various claims and legal actions arising in the ordinary course of business. While it is not feasible to predict or determine the ultimate outcome of these matters, the Company believes that none of its current legal proceedings will have a material adverse effect on its financial position, results of operations, or cash flows.

Letters of Credit—As of January 31, 2024, the Company had a total of $18.2 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, 2024, 2023, and 2022, losses recorded in the consolidated statements of operations in connection with the indemnification provisions were not material.
v3.24.1
Equity
 12 Months Ended
Jan. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Equity Equity
Preferred Stock—In connection with the Initial Public Offering (IPO) in September 2020, 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 in September 2020, 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, 2024January 31, 2023
2012 Equity Incentive Plan:
Options outstanding26,767 35,212 
Restricted stock units outstanding789 2,521 
2020 Equity Incentive Plan:
Options outstanding602 642 
Restricted stock units outstanding20,168 13,039 
Shares available for future grants59,371 52,989 
2020 Employee Stock Purchase Plan:
Shares available for future grants13,764 11,046 
Total shares of common stock reserved for future issuance121,461 115,449 
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.

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

Fiscal Year Ended January 31, 2024
Number of shares repurchased4,012 
Weighted-average price per share(1)
$147.50 
Aggregate purchase price(1)
$591,732 
________________
(1)Includes transaction costs associated with the repurchases.

As of January 31, 2024, $1.4 billion remained available for future stock repurchases under the stock repurchase program. The first 0.5 million shares repurchased during the fiscal year ended January 31, 2024 were recorded in treasury stock as a reduction to the stockholders’ equity on the consolidated balance sheets. All subsequent repurchases of common stock were retired. Upon retirement, the par value of the common stock repurchased was deducted from common stock and any excess of repurchase price (including associated transaction costs) over par value was recorded entirely to retained earnings (accumulated deficit) on the consolidated balance sheets.

Treasury Stock—As described above, 0.5 million shares were repurchased under the Company’s authorized stock repurchase program and recorded in treasury stock, of which 8,000 shares were reissued upon settlement of equity awards during the fiscal year ended January 31, 2024.

In addition, during the fiscal year ended January 31, 2024, in connection with the Samooha business combination as discussed in Note 7, “Business Combinations,” the Company issued approximately 0.2 million shares of its Class A common stock to one of its wholly-owned subsidiaries in exchange for a noncontrolling equity interest in Samooha that was held by the subsidiary prior to this business combination. These shares are treated as treasury stock for accounting purposes.

Equity Incentive Plans—The Company’s 2020 Equity Incentive Plan (2020 Plan), which became effective in connection with its IPO in September 2020, provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, RSUs, performance awards and other forms of equity compensation (collectively, equity awards). All shares that remain available for future grants are under the 2020 Plan.

The Company’s 2012 Equity Incentive Plan (2012 Plan) provided for the grant of equity awards to employees, non-employee directors, and other service providers of the Company. The 2012 Plan was terminated in September 2020 in connection with the IPO but continues to govern the terms of outstanding awards that were granted prior to the termination of the 2012 Plan. Upon the expiration, forfeiture, cancellation, or reacquisition of any shares of common stock underlying outstanding equity awards granted under the 2012 Plan, an equal number of shares of Class A common stock will become available for grant under the 2020 Plan. No further equity awards will be granted under the 2012 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.
A total of 34.1 million shares of the Company’s Class A common stock was initially 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, 2023, the shares available for future grants under the 2020 Plan were automatically increased by 16.2 million shares pursuant to the provision described in the preceding sentence.

The Company’s 2020 Employee Stock Purchase Plan (2020 ESPP), which became effective in connection with the IPO, 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 was initially 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, 2023, the shares available for future grants under the 2020 ESPP were automatically increased by 3.2 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, 2024, 2023, and 2022 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, 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 
Shares authorized16,165—
Options exercised—(8,357)$6.84 
Options canceled128(128)$70.59 
RSUs granted(14,088)—
Shares withheld related to net share settlement of RSUs2,296—
RSUs forfeited1,881—
Balance—January 31, 2024
59,37127,369$12.35 5.0$5,023,664 
Vested and exercisable as of January 31, 2024
26,774$10.00 5.0$4,973,515 

The weighted-average grant-date fair value of options granted during the fiscal year ended January 31, 2023 was $101.66. No options were granted during each of the fiscal years ended January 31, 2024 and January 31, 2022. The intrinsic value of options exercised during the fiscal years ended January 31, 2024, 2023, and 2022 was $1.3 billion, $1.0 billion, and $5.7 billion, respectively. The aggregate grant-date fair value of options that vested during the fiscal years ended January 31, 2024, 2023, and 2022 was $42.3 million, $79.1 million, and $81.0 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. No unvested shares were subject to repurchase as a result of early exercised options as of January 31, 2024, and unvested shares subject to repurchase as a result of early exercised options were not material as of January 31, 2023.
Equity-Classified RSUs—RSUs granted under the 2012 Plan are equity-classified and had both service-based and performance-based vesting conditions, of which the performance-based vesting condition was satisfied upon the effectiveness of the IPO in September 2020. The service-based vesting condition for these awards is typically satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. Stock-based compensation associated with RSUs granted under the 2012 Plan was recognized using an accelerated attribution method from the time it was deemed probable that the vesting condition was met through the time the service-based vesting condition had been achieved.

Equity-classified RSUs granted under the 2020 Plan include those that only contain a service-based vesting condition that is typically satisfied over four years, and the related stock-based compensation for RSUs is recognized on a straight-line basis over the requisite service period. In addition, during the fiscal year ended January 31, 2024, the Company granted, under the 2020 Plan, equity-classified RSUs that have both service-based and performance-based vesting conditions (Leadership PRSUs) to its executive officers and certain other members of its senior leadership team. The service-based vesting condition for these Leadership PRSUs is satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. The performance-based vesting condition is satisfied upon the achievement of certain Company annual performance targets set by the compensation committee of the board of directors of the Company. The ultimate number of the Leadership PRSUs eligible to vest ranges between 0% to 120% of the target number of the Leadership PRSUs based on the weighted-average achievement of such Company annual performance metrics for the fiscal year ended January 31, 2024. Stock-based compensation associated with these Leadership PRSUs is recognized using an accelerated attribution method over the requisite service period, based on the Company’s periodic assessment of the probability that the performance condition will be achieved. For the fiscal year ended January 31, 2024, the Company recognized stock-based compensation of $30.8 million associated with these PRSUs.

A summary of equity-classified RSUs activity during the fiscal years ended January 31, 2024, 2023, and 2022 is as follows:

Number of Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
per Share
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 
Granted(1)
12,706 $158.28 
Vested(6,810)$172.38 
Forfeited(1,881)$176.44 
Unvested Balance—January 31, 2024
19,575 $169.82 
________________
(1)Includes 0.5 million Leadership PRSUs granted at 120% of the target number of these awards, which represents the maximum number of Leadership PRSUs that may be eligible to vest with respect to these awards over their full term.
Liability-Classified RSUs—During the fiscal year ended January 31, 2024, in connection with the Samooha business combination as discussed in Note 7, “Business Combinations,” the Company agreed to grant, under the 2020 Plan, RSUs that contain both post-combination service-based and performance-based vesting conditions (Acquisition PRSUs) to eligible existing or future employees, subject to a maximum total number of approximately 1.7 million shares. The post-combination service-based vesting condition for these Acquisition PRSUs is satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. The performance-based vesting condition is contingent on the achievement of certain performance metric over the twelve-month period ending January 31, 2027. Acquisition PRSUs will vest when both service-based and performance-based conditions are satisfied. The ultimate number of Acquisition PRSUs eligible to vest is determined based on the actual achievement of the performance metric, which takes into account certain factors including the price of the Company’s stock price and market capitalization.

Once granted, Acquisition PRSUs are initially liability-classified and recorded in other liabilities on the Company’s consolidated balance sheets, as the monetary value of the obligation under each potential outcome of the performance condition is predominantly based on a fixed monetary amount known at inception and will be settled in a variable number of shares. Subsequently, these awards are remeasured to the fair value at each reporting date until the number of Acquisition PRSUs eligible to vest is fixed, at which time these awards will be reclassified to equity. Stock-based compensation associated with these awards is recognized based on the probable outcome of the performance condition, using an accelerated attribution method over the requisite service period, with a cumulative catch-up adjustment recognized for changes in the fair value estimated at each reporting date. For the fiscal year ended January 31, 2024, the Company recognized stock-based compensation of $0.5 million associated with Acquisition PRSUs.

A summary of liability-classified RSUs activity during the fiscal year ended January 31, 2024 is as follows:

Number of Shares
(in thousands)
Unvested Balance—January 31, 2023
— 
Granted(1)
1,382 
Unvested Balance—January 31, 2024
1,382 
________________
(1)Represents the maximum number of Acquisition PRSUs that may be eligible to vest with respect to these awards over their full term.

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, 2024, 2023, and 2022 is as follows:

Outside of the Plans
Number of Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
per Share
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 
Granted385 $194.28 
Vested(142)$199.28 
Unvested Balance—January 31, 2024
671 $209.15 
During the fiscal year ended January 31, 2024, in connection with the Samooha business combination, the Company issued to certain of Samooha’s employees a total of 0.4 million shares of the Company’s Class A common stock in exchange for a portion of their Samooha stock. These shares are subject to vesting agreements pursuant to which the shares will vest over four years, subject to each of these employees’ continued employment with the Company or its affiliates. The $74.8 million fair value of these shares is accounted for as post-combination stock-based compensation over the requisite service period of four years. As of January 31, 2024, all 0.4 million shares remained unvested.

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 is accounted for as post-combination stock-based compensation over the requisite service period of three years. As of January 31, 2024 and 2023, 0.3 million and 0.4 million shares remained unvested.

See Note 7, “Business Combinations,” for further details.

Stock-Based Compensation—The following table summarizes the assumptions used in estimating the grant-date fair value of stock options granted to employees during the fiscal year ended January 31, 2023:

Fiscal Year Ended January 31, 2023
Expected term (in years)6.0
Expected volatility50.0 %
Risk-free interest rate1.8 %
Expected dividend yield— %

No stock options were granted during each of the fiscal years ended January 31, 2024 and January 31, 2022.

The following table summarizes the assumptions used in estimating the fair values of employee stock purchase rights granted under the 2020 ESPP during the fiscal years ended January 31, 2024, 2023, and 2022:

Fiscal Year Ended January 31,
202420232022
Expected term (in years)0.50.50.5
Expected volatility
48.4% - 71.3%
58.9% - 74.8%
37.3% - 49.5%
Risk-free interest rate
4.7% - 5.5%
0.9% - 3.8%
0.1%
Expected dividend yield— %— %— %

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

Expected volatility—The Company uses the average 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—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 liability-classified Acquisition PRSUs as of January 31, 2024:

January 31, 2024
Expected volatility60.0 %
Risk-free interest rate4.0 %

Expected volatility—Expected volatility is estimated based on the historical volatility of the Company’s Class A common stock.

Risk-free interest rate—Risk-free rate is estimated based upon quoted market yields for the United States Treasury debt securities for a term that approximates the period from the reporting date to January 31, 2027.

Stock-based compensation included in the consolidated statements of operations was as follows (in thousands):

Fiscal Year Ended January 31,
202420232022
Cost of revenue$123,363 $106,302 $87,336 
Sales and marketing299,657 246,811 185,970 
Research and development644,928 407,524 232,867 
General and administrative100,067 100,896 98,922 
Stock-based compensation, net of amounts capitalized1,168,015 861,533 605,095 
Capitalized stock-based compensation48,830 29,417 24,174 
Total stock-based compensation$1,216,845 $890,950 $629,269 

As of January 31, 2024, total compensation cost related to unvested awards not yet recognized was $3.0 billion, which will be recognized over a weighted-average period of 2.9 years.
v3.24.1
Income Taxes
 12 Months Ended
Jan. 31, 2024
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,
202420232022
U.S.$(875,703)$(851,538)$(717,208)
Foreign26,480 35,545 40,248 
Loss before income taxes$(849,223)$(815,993)$(676,960)
The provision for (benefit from) income taxes consists of the following (in thousands):

Fiscal Year Ended January 31,
202420232022
Current provision:
State$754 $626 $288 
Foreign14,775 7,571 3,417 
Deferred benefit:
Federal(15,376)(21,647)— 
State(4,700)(4,410)— 
Foreign(6,686)(607)(717)
Provision for (benefit from) income taxes$(11,233)$(18,467)$2,988 

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,
202420232022
Income tax benefit computed at federal statutory rate$(178,337)$(171,359)$(142,162)
State taxes, net of federal benefit26,380 14,948 35,360 
Research and development credits(101,725)(58,136)(142,544)
Stock-based compensation(148,600)(71,295)(898,234)
Change in valuation allowance371,767 213,532 1,159,276 
IRC Section 59A waived deductions11,550 49,476 — 
Other7,732 4,367 (8,708)
Provision for (benefit from) income taxes$(11,233)$(18,467)$2,988 

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, 2024 and 2023, 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, 2024January 31, 2023
Deferred tax assets:
Net operating losses carryforwards$1,673,213 $1,567,135 
Capitalized research and development420,491 147,328 
Tax credit carryforwards376,804 274,690 
Stock-based compensation109,446 123,408 
Deferred revenue82,683 31,527 
Operating lease liabilities54,008 55,079 
Net unrealized losses on strategic investments2,443 5,669 
Other31,776 14,834 
Total deferred tax assets2,750,864 2,219,670 
Less: valuation allowance(2,621,009)(2,100,594)
Net deferred tax assets129,855 119,076 
Deferred tax liabilities:
Intangible assets(39,173)(39,426)
Deferred commissions(41,609)(31,940)
Operating lease right-of-use assets(48,629)(53,829)
Other(1,326)(2,358)
Total deferred tax liabilities(130,737)(127,553)
Net deferred tax liabilities
$(882)$(8,477)

The valuation allowance was $2.6 billion and $2.1 billion as of January 31, 2024 and 2023, respectively, primarily relating to U.S. federal and state net operating loss carryforwards, capitalized research and development, and tax credit carryforwards. The valuation allowance increased $520.4 million during the fiscal year ended January 31, 2024, primarily due to increased capitalized research and development, U.S. federal and state net operating loss carryforwards, tax credit carryforwards, and deferred revenue. The valuation allowance increased $241.9 million during the fiscal year ended January 31, 2023, primarily due to increased capitalized research and development, tax credit carryforwards, U.S. federal and state net operating loss carryforwards, and stock-based compensation.

As of January 31, 2024, the Company had U.S. federal, state, and foreign net operating loss carryforwards of $6.2 billion, $5.6 billion, and $175.2 million, respectively. Of the $6.2 billion U.S. federal net operating loss carryforwards, $6.1 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 2024. Of the $175.2 million foreign net operating loss carryforwards, $169.6 million may be carried forward indefinitely, and the remaining $5.6 million will begin to expire in 2027. As of January 31, 2024, the Company also had federal and state tax credits of $356.9 million and $158.0 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, 2024 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,
202420232022
Beginning balance$75,180 $57,715 $19,349 
Increases based on tax positions during the prior period
12,708 1,816 20 
Increases based on tax positions during the current period
27,365 15,649 38,346 
Ending balance$115,253 $75,180 $57,715 

There were no interest and penalties associated with unrecognized income tax benefits for each of the fiscal years ended January 31, 2024, 2023, and 2022.

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, 2024 and 2023 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 stock repurchases. For the fiscal year ended January 31, 2024, the Inflation Act had no material impact to the Company, including its stock repurchase program. The Company is continuing to evaluate the various provisions of the Inflation Act and does not anticipate the impact, if any, will be material to the Company.
v3.24.1
Net Loss per Share
 12 Months Ended
Jan. 31, 2024
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,
202420232022
Numerator:
Net loss$(837,990)$(797,526)$(679,948)
Less: net loss attributable to noncontrolling interest(1,893)(821)— 
Net loss attributable to Snowflake Inc. Class A and Class B common stockholders$(836,097)$(796,705)$(679,948)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic and diluted328,001 318,730 300,273 
Net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic and diluted$(2.55)$(2.50)$(2.26)

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,
202420232022
Stock options27,369 35,854 42,043 
RSUs20,957 15,560 9,612 
Unvested restricted common stock and early exercised stock options671 446 426 
Employee stock purchase rights under the 2020 ESPP284 265 116 
Total49,281 52,125 52,197 
v3.24.1
Related Party Transactions
 12 Months Ended
Jan. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
A member of the Company’s board of directors currently serves as the Chief Executive Officer of a privately-held company (the Related Party), which has been the Company’s customer since 2018. In January 2024, the Company renewed its customer agreement with the Related Party for a term of two years with a total contract value of $22.5 million. With respect to the Related Party, the Company recognized $6.8 million, $3.7 million, and $2.4 million of revenue for the fiscal years ended January 31, 2024, 2023 and 2022, respectively, and had an accounts receivable balance due from the Related Party of $5.0 million and zero as of January 31, 2024 and 2023, respectively. In March 2024, as a minority investor, the Company made a strategic investment of approximately $5.0 million by purchasing non-marketable equity securities issued by the Related Party.
v3.24.1
Subsequent Event
 12 Months Ended
Jan. 31, 2024
Subsequent Events [Abstract]  
Subsequent Event Subsequent Event
Effective February 27, 2024, Frank Slootman retired as Chief Executive Officer, and Sridhar Ramaswamy was appointed to succeed Mr. Slootman as the Company’s new Chief Executive Officer. Mr. Slootman remains Chairman of the Company’s board of directors, and Mr. Ramaswamy serves as a board member.
v3.24.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Pay vs Performance Disclosure      
Net Income (Loss) $ (836,097) $ (796,705) $ (679,948)
v3.24.1
Insider Trading Arrangements
 3 Months Ended 12 Months Ended
Jan. 31, 2024
shares
Jan. 31, 2024
shares
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
Trading Arrangement
ActionDateRule 10b5-1*Non-Rule 10b5-1**Total Shares Subject to Trading ArrangementExpiration Date
Christian Kleinerman, EVP, Product Management
AdoptedDecember 22, 2023X
   354,439(1)
March 31, 2025
Grzegorz J. Czajkowski, EVP, Engineering & Support
AdoptedDecember 22, 2023X
   561,001(2)
March 31, 2025
Christopher W. Degnan, Chief Revenue Officer
AdoptedDecember 27, 2023X
398,775
April 30, 2025
* Intended to satisfy the affirmative defense of Rule 10b5-1(c)
** Not intended to satisfy the affirmative defense of Rule 10b5-1(c)
(1)    The actual number of shares subject to the trading arrangement under the Rule 10b5-1 Plan may be lower due to: (i) our withholding of certain shares to satisfy tax withholding obligations in connection with the vesting of restricted stock units; (ii) the amount of restricted stock units acquired following determination of the achievement of pre-established financial performance goals for fiscal year 2025; and (iii) the amount of whole shares distributed in connection with the vesting of restricted stock units due to rounding.
(2)    The actual number of shares subject to the trading arrangement under the Rule 10b5-1 Plan may be lower due to our withholding of certain shares to satisfy tax withholding obligations in connection with the vesting of restricted stock units.

No other officers or directors, as defined in Rule 16a-1(f), adopted and/or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as defined in Regulation S-K Item 408, during the last fiscal quarter.
Non-Rule 10b5-1 Arrangement Adopted false  
Rule 10b5-1 Arrangement Terminated false  
Non-Rule 10b5-1 Arrangement Terminated false  
Christian Kleinerman [Member]    
Trading Arrangements, by Individual    
Name Christian Kleinerman  
Title EVP, Product Management  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date December 22, 2023  
Arrangement Duration 465 days  
Aggregate Available 354,439 354,439
Grzegorz J. Czajkowski [Member]    
Trading Arrangements, by Individual    
Name Grzegorz J. Czajkowski  
Title EVP, Engineering & Support  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date December 22, 2023  
Arrangement Duration 465 days  
Aggregate Available 561,001 561,001
Christopher W. Degnan [Member]    
Trading Arrangements, by Individual    
Name Christopher W. Degnan  
Title Chief Revenue Officer  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date December 27, 2023  
Arrangement Duration 490 days  
Aggregate Available 398,775 398,775
v3.24.1
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Jan. 31, 2024
Accounting Policies [Abstract]  
Fiscal Year
Fiscal Year

The Company’s fiscal year ends on January 31. For example, references to fiscal 2024 refer to the fiscal year ended January 31, 2024.
Basis of Presentation
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
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 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.
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 foreign currency forward contracts. The Company maintains its cash, cash equivalents, investments in marketable securities, restricted cash and 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 U.S. dollar. The functional currency of the Company’s foreign subsidiaries is primarily the U.S. dollar.

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 customers with lower usage levels or 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 3%, 2%, and 3% of the Company’s revenue for the fiscal years ended January 31, 2024, 2023, and 2022, 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, 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, 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 the deployment and maintenance of the platform on public clouds, including different regional deployments, and (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. Cost of revenue also includes amortization of capitalized internal-use software development costs, amortization of acquired intangible assets, costs of contracted third-party partners for professional services, 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 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. A portion of the sales commissions paid to the sales force is earned based on the level of the customers’ consumption of the Company’s platform, and a portion of the commissions paid to the sales force is earned upon the origination of the customer contracts. 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 consideration 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 capitalized 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, amortization of acquired intangible assets, software and subscription services dedicated for use by the Company’s research and development organization, and allocated overhead.
Advertising Costs
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.
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’s equity awards include stock options, restricted stock unit awards (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. Equity awards are reviewed in determining whether such awards are equity-classified or liability-classified.

Stock-based compensation related to equity-classified awards is measured based on the estimated fair value of the awards on the date of grant and generally recognized on a straight-line basis over the requisite service period. 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. For equity-classified awards with both service-based and performance-based vesting conditions, the stock-based compensation is recognized using an accelerated attribution method over the requisite service period, based on the Company’s periodic assessment of the probability that the performance condition will be achieved.

Certain RSUs with both service-based and performance-based vesting conditions are liability-classified, as the monetary value of the obligation under each potential outcome of the performance condition is predominantly based on a fixed monetary amount known at inception and will be settled in a variable number of the Company’s common stock. The fair value of these awards is estimated using the Monte Carlo simulation model, which requires the use of various assumptions, including the expected stock price volatility and risk-free interest rate. These awards are subsequently remeasured to the fair value at each reporting date until the number of these awards eligible to vest is fixed, at which time these awards will be reclassified to equity. Stock-based compensation associated with these awards is recognized based on the probable outcome of the performance condition, using an accelerated attribution method over the requisite service period, with a cumulative catch-up adjustment recognized for changes in the fair value estimated at each reporting date.

If an award contains a provision whereby vesting is accelerated upon a change in control, such 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 11, “Equity,” 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 considers unvested common stock to be participating securities, as the holders of such stock have the right to receive nonforfeitable dividends on a pari passu basis in the event that a dividend is declared on common stock.

Basic net loss per share attributable to Snowflake Inc. common stockholders is computed by dividing net loss attributable to Snowflake Inc. common stockholders by the weighted-average number of shares of Snowflake Inc. common stock outstanding during the period, which excludes treasury stock. Diluted net loss per share attributable to Snowflake Inc. common stockholders is computed by giving effect to all potentially dilutive Snowflake Inc. common stock equivalents to the extent they are dilutive. For purposes of this calculation, stock options, RSUs, restricted common stock, ESPP Rights, and early exercised stock options 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.
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.
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, derivative assets and liabilities, 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, “Fair Value Measurements,” for information regarding the fair value of the Company’s investments in marketable securities, strategic investments, and derivative assets and liabilities.
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.
Derivative Financial Instruments
Derivative Financial Instruments

The Company’s derivative financial instruments, which are carried at fair value on the consolidated balance sheets, consist of foreign currency forward contracts as described below:

Non-Designated Hedges—The Company utilizes foreign currency forward contracts to manage its exposure to certain foreign currency exchange risks primarily associated with (i) a portion of its net outstanding monetary assets and liabilities positions and (ii) certain intercompany balances denominated in currencies other than the U.S. dollar. These foreign currency forward contracts have maturities of twelve months or less and are not designated as hedging instruments (Non-Designated Hedges). 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 balances being hedged. Cash flows at settlement of such foreign currency forward contracts are classified as operating activities in the consolidated statement of cash flows.
Cash Flow Hedge—During the fiscal year ended January 31, 2024, the Company began utilizing foreign currency forward contracts to manage the volatility in cash flows associated with (i) certain forecasted capital expenditures and (ii) a portion of its forecasted operating expenses denominated in certain currencies other than the U.S. dollar. These foreign currency forward contracts have a maturity of twelve months or less and are designated and qualify as cash flow hedges, and, in general, closely match the underlying hedged forecasted transactions in duration. The effectiveness of the cash flow hedges is assessed quantitatively using regression at inception and at each reporting date. The effective portion of these foreign currency forward contracts’ gains and losses resulting from changes in fair value is recorded in accumulated other comprehensive income (loss) on the consolidated balance sheets, and subsequently reclassified into the same line items on the Company’s consolidated statements of operations as the underlying hedged forecasted transactions in the same period that such transactions affect earnings. In the event the underlying forecasted transactions do not occur, or it becomes probable that they will not occur within the defined hedge period, the gains or losses on the related cash flow hedges are reclassified immediately from accumulated other comprehensive income (loss) to net income (loss) in the Company’s consolidated financial statements. Cash flows from such foreign currency forward contracts are classified in the same category on the Company’s consolidated statements of cash flows as the cash flows from the underlying hedged forecasted transactions.

These derivative financial instruments did not have a material impact on the Company’s consolidated financial statements for any period presented.
Accounts Receivable, Net
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.
Capitalized Internal-Use Software Development Costs
Capitalized 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. Cost and accumulated amortization of fully amortized capitalized internal-use software development costs are removed from the consolidated balance sheets when the related software is no longer in use. 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. Cost and accumulated depreciation and amortization of fully depreciated property and equipment are removed from the consolidated balance sheets when they are no longer in use.
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 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
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.

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 Issued Accounting Pronouncements Not Yet Adopted and Recent Securities and Exchange Commission (SEC) Final Rules Not Yet Adopted
Recently Issued Accounting Pronouncements Not Yet Adopted
In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit and loss, and an amount for other segment items by reportable segment and a description of its composition. This guidance also requires disclosures on the title and position of the chief operating decision maker and an explanation of how the chief operating decision maker uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources, and interim disclosures of reportable segment’s profit or loss and assets. This guidance is effective for the Company for its fiscal year beginning February 1, 2024 and interim periods within its fiscal year beginning February 1, 2025 on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires annual disclosure on disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. This guidance is effective for the Company for its fiscal year beginning February 1, 2025 on a prospective basis. Early adoption and retrospective application are permitted. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and disclosures.

Recent Securities and Exchange Commission (SEC) Final Rules Not Yet Adopted

In March 2024, the SEC adopted final rules under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors, which requires registrants to provide certain climate-related information in their registration statements and annual reports. The rules require information about a registrant's climate-related risks that are reasonably likely to have a material impact on its business, results of operations, or financial condition. The required information about climate-related risks will also include disclosure of a registrant's greenhouse gas emissions. In addition, the rules will require registrants to present certain climate-related financial metrics in their audited financial statements. These requirements are effective for the Company in various fiscal years, starting with its fiscal year beginning February 1, 2025. Disclosures will be required prospectively, with information for prior periods required only to the extent it was previously disclosed in an SEC filing. The Company is currently evaluating the impact of these final rules on its consolidated financial statements and disclosures.
v3.24.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 31, 2024
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, 2024January 31, 2023
United States$379,664 $329,275 
Other(1)
119,928 62,814 
Total$499,592 $392,089 
________________
(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, 2024 and 2023.
v3.24.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations (Tables)
 12 Months Ended
Jan. 31, 2024
Revenue Recognition and Deferred Revenue [Abstract]  
Disaggregation of Revenue
Revenue consists of the following (in thousands):

Fiscal Year Ended January 31,
202420232022
Product revenue$2,666,849 $1,938,783 $1,140,469 
Professional services and other revenue139,640 126,876 78,858 
Total$2,806,489 $2,065,659 $1,219,327 
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,
202420232022
Americas:
United States$2,166,448 $1,633,843 $977,077 
Other Americas(1)
72,784 46,577 26,324 
EMEA(1)(2)
432,634 292,666 169,268 
Asia-Pacific and Japan(1)
134,623 92,573 46,658 
Total$2,806,489 $2,065,659 $1,219,327 
________________
(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.
v3.24.1
Cash Equivalents and Investments (Tables)
 12 Months Ended
Jan. 31, 2024
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, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
U.S. government securities$742,235 $1 $(2)$742,234 
Money market funds533,211 — — 533,211 
Time deposits56,263 — — 56,263 
Total cash equivalents1,331,709 1 (2)1,331,708 
Investments:
Corporate notes and bonds1,549,151 1,959 (3,394)1,547,716 
U.S. government and agency securities877,496 574 (4,653)873,417 
Commercial paper353,525 154 (131)353,548 
Certificates of deposit224,869 271 (15)225,125 
Total investments3,005,041 2,958 (8,193)2,999,806 
Total cash equivalents and investments$4,336,750 $2,959 $(8,195)$4,331,514 

January 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds(1)
$520,138 $— $— $520,138 
Commercial paper9,305 — (1)9,304 
Corporate notes and bonds6,902 1 — 6,903 
Certificates of deposit3,045 — (1)3,044 
Total cash equivalents(1)
539,390 1 (2)539,389 
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(1)
$4,716,373 $2,754 $(38,749)$4,680,378 
________________
(1)Includes a reclassification of $141.0 million from cash to cash equivalents for the money market funds balance as of January 31, 2023, as presented in the Annual Report on Form 10-K filed with the SEC on March 29, 2023. Such reclassification did not impact the Company’s consolidated balance sheet as of January 31, 2023 or its consolidated statement of cash flows for the fiscal year ended January 31, 2023.
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, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
U.S. government securities$742,235 $1 $(2)$742,234 
Money market funds533,211 — — 533,211 
Time deposits56,263 — — 56,263 
Total cash equivalents1,331,709 1 (2)1,331,708 
Investments:
Corporate notes and bonds1,549,151 1,959 (3,394)1,547,716 
U.S. government and agency securities877,496 574 (4,653)873,417 
Commercial paper353,525 154 (131)353,548 
Certificates of deposit224,869 271 (15)225,125 
Total investments3,005,041 2,958 (8,193)2,999,806 
Total cash equivalents and investments$4,336,750 $2,959 $(8,195)$4,331,514 

January 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds(1)
$520,138 $— $— $520,138 
Commercial paper9,305 — (1)9,304 
Corporate notes and bonds6,902 1 — 6,903 
Certificates of deposit3,045 — (1)3,044 
Total cash equivalents(1)
539,390 1 (2)539,389 
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(1)
$4,716,373 $2,754 $(38,749)$4,680,378 
________________
(1)Includes a reclassification of $141.0 million from cash to cash equivalents for the money market funds balance as of January 31, 2023, as presented in the Annual Report on Form 10-K filed with the SEC on March 29, 2023. Such reclassification did not impact the Company’s consolidated balance sheet as of January 31, 2023 or its consolidated statement of cash flows for the fiscal year ended January 31, 2023.
Schedule of Available For Sale Securities Remaining Contractual Maturity The estimated fair values of available-for-sale marketable debt securities, classified as short-term or long-term investments on the Company’s consolidated balance sheets, by remaining contractual maturity, is as follows (in thousands):
January 31, 2024
Estimated
Fair Value
Due within 1 year$2,083,499 
Due in 1 year to 3 years916,307 
Total$2,999,806 
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, 2024
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
U.S. government securities$338,893 $(2)$— $— $338,893 $(2)
Total cash equivalents338,893 (2)— — 338,893 (2)
Investments:
Corporate notes and bonds625,766 (1,259)321,952 (2,135)947,718 (3,394)
U.S. government and agency securities525,408 (1,323)191,863 (3,330)717,271 (4,653)
Commercial paper172,422 (131)— — 172,422 (131)
Certificates of deposit71,813 (15)— — 71,813 (15)
Total investments1,395,409 (2,728)513,815 (5,465)1,909,224 (8,193)
Total cash equivalents and investments$1,734,302 $(2,730)$513,815 $(5,465)$2,248,117 $(8,195)

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)
v3.24.1
Fair Value Measurements (Tables)
 12 Months Ended
Jan. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of January 31, 2024 (in thousands):

Level 1
Level 2
Total
Assets:
Cash equivalents:
U.S. government securities$— $742,234 $742,234 
Money market funds533,211 — 533,211 
Time deposits— 56,263 56,263 
Short-term investments:
Corporate notes and bonds— 939,727 939,727 
U.S. government and agency securities— 573,780 573,780 
Commercial paper— 353,548 353,548 
Certificates of deposit— 216,444 216,444 
Long-term investments:
Corporate notes and bonds— 607,989 607,989 
U.S. government and agency securities— 299,637 299,637 
Certificates of deposit— 8,681 8,681 
Derivative assets:
Foreign currency forward contracts
— 60 60 
Total assets
$533,211 $3,798,363 $4,331,574 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts
$— $(745)$(745)
Total liabilities
$— $(745)$(745)
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(1)
$520,138 $— $520,138 
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(1)
$520,138 $4,160,240 $4,680,378 
________________
(1)Includes a reclassification of $141.0 million from cash to cash equivalents for the money market funds balance as of January 31, 2023, as presented in the Annual Report on Form 10-K filed with the SEC on March 29, 2023. Such reclassification did not impact the Company’s consolidated balance sheet as of January 31, 2023 or its consolidated statement of cash flows for the fiscal year ended January 31, 2023.
Schedule of Fair Value Measurements
The following table presents the Company’s strategic investments by type (in thousands):

January 31, 2024January 31, 2023
Equity securities:
Non-marketable equity securities under Measurement Alternative$190,238 $174,248 
Non-marketable equity securities under equity method5,307 5,066 
Marketable equity securities37,320 22,122 
Debt securities:
Non-marketable debt securities1,500 1,500 
Total strategic investments—included in other assets$234,365 $202,936 
Realized and Unrealized Gain (Loss) on Investments
The following table summarizes the realized and unrealized gains and losses included in the carrying value of the Company’s strategic investments in equity securities held as of January 31, 2024 (in thousands):

Fiscal Year Ended January 31,
202420232022
Unrealized gains (losses) on non-marketable equity securities under Measurement Alternative:
Upward adjustments$— $4,125 $32,975 
Impairments(3,101)(38,036)— 
Net unrealized gains (losses) on marketable equity securities
15,197 (12,524)(5,354)
Net unrealized gains (losses) on strategic investments in equity securities
12,096 (46,435)27,621 
Realized gains on non-marketable equity securities under Measurement Alternative(1)
34,713 — — 
Total—included in other income (expense), net$46,809 $(46,435)$27,621 
________________
(1)Includes primarily a remeasurement gain of $34.0 million recognized on a previously held equity interest as a result of a business combination completed during the fiscal year ended January 31, 2024. See Note 7, “Business Combinations,” for further details.
v3.24.1
Property and Equipment, Net (Tables)
 12 Months Ended
Jan. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

January 31, 2024January 31, 2023
Leasehold improvements$67,804 $59,872 
Computers, equipment, and software29,859 20,050 
Furniture and fixtures17,593 14,800 
Capitalized internal-use software development costs93,222 44,059 
Construction in progress—capitalized internal-use software development costs78,737 61,575 
Construction in progress—other34,890 7,313 
Total property and equipment, gross322,105 207,669 
Less: accumulated depreciation and amortization(1)
(74,641)(46,846)
Total property and equipment, net$247,464 $160,823 
________________
(1)Includes $30.0 million and $19.9 million of accumulated amortization related to capitalized internal-use software development costs as of January 31, 2024 and 2023, respectively.
v3.24.1
Business Combinations (Tables)
 12 Months Ended
Jan. 31, 2024
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions, by Acquisition
The acquisition date fair value of the preliminary purchase consideration was $219.0 million, which was comprised of the following (in thousands):

Estimated Fair Value
Cash$5,761 
Deferred cash consideration
231 
Common stock(1)
174,225 
Fair value of previously held equity interest(2)
38,818 
Total
$219,035 
________________
(1)Approximately 0.9 million shares of the Company’s Class A common stock, issued to selling stockholders that were not affiliated with the Company, were included in the purchase consideration, and the fair values of these shares were determined based on the closing market price of $194.28 per share on the acquisition date.
(2)In connection with this business combination, the Company issued approximately 0.2 million shares of its Class A common stock to the Investing Subsidiary in exchange for the Previously Held Equity Interest. The fair values of these shares were determined based on the closing market price of $194.28 per share on the acquisition date. These shares are treated as treasury stock for accounting purposes.
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 following table summarizes the preliminary allocation of purchase consideration to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents
$9,589 
Goodwill189,838 
Developed technology intangible asset
25,000 5
Other net tangible liabilities
(345)
Deferred tax liabilities, net(1)
(5,047)
Total$219,035 
________________
(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 and cash equivalents$43,968 
Goodwill63,138 
Developed technology intangible assets83,000 5
Other net tangible liabilities(790)
Deferred tax liabilities, net(1)
(3,889)
Total$185,427 
________________
(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 and cash equivalents$11,594 
Goodwill46,426 
Developed technology intangible asset33,000 
5
Other net tangible liabilities(6,623)
Deferred tax liabilities, net(1)
(8,136)
Total$76,261 
________________
(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, cash equivalents, and restricted cash$3,563 
Goodwill9,029 
Developed technology intangible asset53,000 
5
Other net tangible liabilities(1,434)
Deferred tax liabilities, net(1)
(2,150)
Total$62,008 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.
The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective estimated fair values. The 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 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.
Business Acquisition, Pro Forma Information
The following unaudited pro forma financial information summarizes the combined results of operations of the Company, and both of Samooha and Neeva, as if each had been acquired as of February 1, 2022 (in thousands):

Pro Forma
Fiscal Year Ended January 31,
20242023
(unaudited)
Revenue$2,806,739 $2,065,730 
Net loss$(932,308)$(937,873)
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)
v3.24.1
Intangible Assets and Goodwill (Tables)
 12 Months Ended
Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
Intangible assets, net consisted of the following (in thousands):

January 31, 2024
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$243,596 $(47,919)$195,677 
Developer community154,900 (55,442)99,458 
Assembled workforce55,732 (22,945)32,787 
Patents8,874 (6,211)2,663 
Total finite-lived intangible assets$463,102 $(132,517)$330,585 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$331,411 

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 
Schedule of Future Amortization Expense
As of January 31, 2024, future amortization expense is expected to be as follows (in thousands):

Amount
Fiscal Year Ending January 31,
2025$94,777 
202688,519 
202784,366 
202851,800 
202911,123 
Thereafter—
Total$330,585 
Schedule of Goodwill
Changes in goodwill were as follows (in thousands):

Amount
Balance—January 31, 2022
$8,449 
Additions and related adjustments(1)
648,921 
Balance—January 31, 2023
657,370 
Additions and related adjustments(1)
318,536 
Balance—January 31, 2024
$975,906 
________________
(1)Includes measurement period adjustments related to the preliminary fair values of the assets acquired and liabilities assumed in business combinations. These adjustments did not have a material impact on goodwill. See Note 7, “Business Combinations,” for further details.
v3.24.1
Accrued Expenses and Other Current Liabilities (Tables)
 12 Months Ended
Jan. 31, 2024
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, 2024January 31, 2023
Accrued compensation$205,056 $123,173 
Accrued third-party cloud infrastructure expenses48,571 35,093 
Employee contributions under employee stock purchase plan40,641 36,648 
Liabilities associated with sales, marketing and business development programs39,571 24,218 
Accrued taxes37,108 20,003 
Employee payroll tax withheld on employee stock transactions22,479 592 
Accrued professional services9,274 11,776 
Accrued purchases of property and equipment4,508 3,876 
Other39,652 13,690 
Total accrued expenses and other current liabilities$446,860 $269,069 
v3.24.1
Commitment and Contingencies (Tables)
 12 Months Ended
Jan. 31, 2024
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,
202420232022
Operating lease costs$52,892 $46,240 $35,745 
Variable lease costs11,667 7,906 6,029 
Sublease income(11,943)(12,782)(12,722)
Total lease costs$52,616 $41,364 $29,052 

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,
202420232022
Cash payments (receipts) included in the measurement of operating lease liabilities—operating cash flows
$40,498 $42,342 $38,249 
Operating lease liabilities arising from obtaining right-of-use assets$56,037 $72,158 $28,314 

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

January 31, 2024January 31, 2023
Weighted-average remaining lease term (years)
7.58.2
Weighted-average discount rate
6.1 %6.5 %
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, 2024 were as follows (in thousands):

Operating Leases
Subleases
Total
Fiscal Year Ending January 31,
2025$46,530 $(7,709)$38,821 
202647,944 (5,774)42,170 
202746,651 (5,960)40,691 
202845,132 (6,153)38,979 
202943,001 (6,351)36,650 
Thereafter136,207 (3,235)132,972 
Total lease payments (receipts)
$365,465 $(35,182)$330,283 
Less: imputed interest(77,484)
Present value of operating lease liabilities$287,981 
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, 2024 are presented in the table below (in thousands):

Amount
Fiscal Year Ending January 31,
2025$498,704 
2026528,063 
2027563,994 
2028656,162 
20291,176,725 (1)(2)
Thereafter—
Total$3,423,648 
________________
(1)Includes $929.5 million of remaining non-cancelable contractual commitments as of January 31, 2024 related to one of the Company’s third-party cloud infrastructure agreements, under which the Company committed to spend an aggregate of at least $1.0 billion between June 2023 and May 2028 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 May 2028 and such payment can be applied to qualifying expenditures for cloud infrastructure services for up to twelve months after May 2028.
(2)Also includes $247.2 million of remaining non-cancelable contractual commitments as of January 31, 2024 related to another one of the Company’s third-party cloud infrastructure agreements, under which the Company committed to spend an aggregate of at least $250.0 million between January 2024 and December 2028 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 2028.
v3.24.1
Equity (Tables)
 12 Months Ended
Jan. 31, 2024
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, 2024January 31, 2023
2012 Equity Incentive Plan:
Options outstanding26,767 35,212 
Restricted stock units outstanding789 2,521 
2020 Equity Incentive Plan:
Options outstanding602 642 
Restricted stock units outstanding20,168 13,039 
Shares available for future grants59,371 52,989 
2020 Employee Stock Purchase Plan:
Shares available for future grants13,764 11,046 
Total shares of common stock reserved for future issuance121,461 115,449 
Share Repurchase Activity
The following table summarizes the stock repurchase activity under the Company’s stock repurchase program (in thousands, except per share data):

Fiscal Year Ended January 31, 2024
Number of shares repurchased4,012 
Weighted-average price per share(1)
$147.50 
Aggregate purchase price(1)
$591,732 
________________
(1)Includes transaction costs associated with the repurchases.
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, 2024, 2023, and 2022 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, 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 
Shares authorized16,165—
Options exercised—(8,357)$6.84 
Options canceled128(128)$70.59 
RSUs granted(14,088)—
Shares withheld related to net share settlement of RSUs2,296—
RSUs forfeited1,881—
Balance—January 31, 2024
59,37127,369$12.35 5.0$5,023,664 
Vested and exercisable as of January 31, 2024
26,774$10.00 5.0$4,973,515 
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, 2024, 2023, and 2022 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, 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 
Shares authorized16,165—
Options exercised—(8,357)$6.84 
Options canceled128(128)$70.59 
RSUs granted(14,088)—
Shares withheld related to net share settlement of RSUs2,296—
RSUs forfeited1,881—
Balance—January 31, 2024
59,37127,369$12.35 5.0$5,023,664 
Vested and exercisable as of January 31, 2024
26,774$10.00 5.0$4,973,515 
Schedule of Unvested RSU Rollforward
A summary of equity-classified RSUs activity during the fiscal years ended January 31, 2024, 2023, and 2022 is as follows:

Number of Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
per Share
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 
Granted(1)
12,706 $158.28 
Vested(6,810)$172.38 
Forfeited(1,881)$176.44 
Unvested Balance—January 31, 2024
19,575 $169.82 
________________
(1)Includes 0.5 million Leadership PRSUs granted at 120% of the target number of these awards, which represents the maximum number of Leadership PRSUs that may be eligible to vest with respect to these awards over their full term.
A summary of liability-classified RSUs activity during the fiscal year ended January 31, 2024 is as follows:

Number of Shares
(in thousands)
Unvested Balance—January 31, 2023
— 
Granted(1)
1,382 
Unvested Balance—January 31, 2024
1,382 
________________
(1)Represents the maximum number of Acquisition PRSUs that may be eligible to vest with respect to these awards over their full term.
Schedule of Unvested RSA Rollforward A summary of restricted common stock activity outside of the Plans during the fiscal years ended January 31, 2024, 2023, and 2022 is as follows:
Outside of the Plans
Number of Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
per Share
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 
Granted385 $194.28 
Vested(142)$199.28 
Unvested Balance—January 31, 2024
671 $209.15 
Schedule of Valuation Assumptions The following table summarizes the assumptions used in estimating the grant-date fair value of stock options granted to employees during the fiscal year ended January 31, 2023:
Fiscal Year Ended January 31, 2023
Expected term (in years)6.0
Expected volatility50.0 %
Risk-free interest rate1.8 %
Expected dividend yield— %
Schedule of Valuation Assumptions Other than Stock Options
The following table summarizes the assumptions used in estimating the fair values of employee stock purchase rights granted under the 2020 ESPP during the fiscal years ended January 31, 2024, 2023, and 2022:

Fiscal Year Ended January 31,
202420232022
Expected term (in years)0.50.50.5
Expected volatility
48.4% - 71.3%
58.9% - 74.8%
37.3% - 49.5%
Risk-free interest rate
4.7% - 5.5%
0.9% - 3.8%
0.1%
Expected dividend yield— %— %— %
Schedule of Valuation Assumptions, Liability-Classified Performance Shares
The following table summarizes the assumptions used in estimating the fair value of liability-classified Acquisition PRSUs as of January 31, 2024:

January 31, 2024
Expected volatility60.0 %
Risk-free interest rate4.0 %
Share-based Compensation Schedule
Stock-based compensation included in the consolidated statements of operations was as follows (in thousands):

Fiscal Year Ended January 31,
202420232022
Cost of revenue$123,363 $106,302 $87,336 
Sales and marketing299,657 246,811 185,970 
Research and development644,928 407,524 232,867 
General and administrative100,067 100,896 98,922 
Stock-based compensation, net of amounts capitalized1,168,015 861,533 605,095 
Capitalized stock-based compensation48,830 29,417 24,174 
Total stock-based compensation$1,216,845 $890,950 $629,269 
v3.24.1
Income Taxes (Tables)
 12 Months Ended
Jan. 31, 2024
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,
202420232022
U.S.$(875,703)$(851,538)$(717,208)
Foreign26,480 35,545 40,248 
Loss before income taxes$(849,223)$(815,993)$(676,960)
Schedule of Provision for Income Taxes
The provision for (benefit from) income taxes consists of the following (in thousands):

Fiscal Year Ended January 31,
202420232022
Current provision:
State$754 $626 $288 
Foreign14,775 7,571 3,417 
Deferred benefit:
Federal(15,376)(21,647)— 
State(4,700)(4,410)— 
Foreign(6,686)(607)(717)
Provision for (benefit from) income taxes$(11,233)$(18,467)$2,988 
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,
202420232022
Income tax benefit computed at federal statutory rate$(178,337)$(171,359)$(142,162)
State taxes, net of federal benefit26,380 14,948 35,360 
Research and development credits(101,725)(58,136)(142,544)
Stock-based compensation(148,600)(71,295)(898,234)
Change in valuation allowance371,767 213,532 1,159,276 
IRC Section 59A waived deductions11,550 49,476 — 
Other7,732 4,367 (8,708)
Provision for (benefit from) income taxes$(11,233)$(18,467)$2,988 
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, 2024January 31, 2023
Deferred tax assets:
Net operating losses carryforwards$1,673,213 $1,567,135 
Capitalized research and development420,491 147,328 
Tax credit carryforwards376,804 274,690 
Stock-based compensation109,446 123,408 
Deferred revenue82,683 31,527 
Operating lease liabilities54,008 55,079 
Net unrealized losses on strategic investments2,443 5,669 
Other31,776 14,834 
Total deferred tax assets2,750,864 2,219,670 
Less: valuation allowance(2,621,009)(2,100,594)
Net deferred tax assets129,855 119,076 
Deferred tax liabilities:
Intangible assets(39,173)(39,426)
Deferred commissions(41,609)(31,940)
Operating lease right-of-use assets(48,629)(53,829)
Other(1,326)(2,358)
Total deferred tax liabilities(130,737)(127,553)
Net deferred tax liabilities
$(882)$(8,477)
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,
202420232022
Beginning balance$75,180 $57,715 $19,349 
Increases based on tax positions during the prior period
12,708 1,816 20 
Increases based on tax positions during the current period
27,365 15,649 38,346 
Ending balance$115,253 $75,180 $57,715 
v3.24.1
Net Loss per Share (Tables)
 12 Months Ended
Jan. 31, 2024
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,
202420232022
Numerator:
Net loss$(837,990)$(797,526)$(679,948)
Less: net loss attributable to noncontrolling interest(1,893)(821)— 
Net loss attributable to Snowflake Inc. Class A and Class B common stockholders$(836,097)$(796,705)$(679,948)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic and diluted328,001 318,730 300,273 
Net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic and diluted$(2.55)$(2.50)$(2.26)
Schedule of Potentially Dilutive Securities Excluded from Computation of Net Loss per Share
The following potentially dilutive securities were excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders for the periods presented because the impact of including them would have been anti-dilutive (in thousands):
Fiscal Year Ended January 31,
202420232022
Stock options27,369 35,854 42,043 
RSUs20,957 15,560 9,612 
Unvested restricted common stock and early exercised stock options671 446 426 
Employee stock purchase rights under the 2020 ESPP284 265 116 
Total49,281 52,125 52,197 
v3.24.1
Basis of Presentation and Summary of Significant Accounting Policies - Summary of Long-lived Assets by Geographic Areas (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 499,592 $ 392,089
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total 379,664 329,275
Other    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 119,928 $ 62,814
v3.24.1
Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Concentration Risk [Line Items]      
Advertising costs $ 85,300,000 $ 68,200,000 $ 57,500,000
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 3.00% 2.00% 3.00%
v3.24.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Disaggregation of Revenue [Line Items]      
Revenue $ 2,806,489 $ 2,065,659 $ 1,219,327
Product revenue      
Disaggregation of Revenue [Line Items]      
Revenue 2,666,849 1,938,783 1,140,469
Professional services and other revenue      
Disaggregation of Revenue [Line Items]      
Revenue $ 139,640 $ 126,876 $ 78,858
v3.24.1
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, 2024
Jan. 31, 2023
Jan. 31, 2022
Disaggregation of Revenue [Line Items]      
Revenue $ 2,806,489 $ 2,065,659 $ 1,219,327
United States      
Disaggregation of Revenue [Line Items]      
Revenue 2,166,448 1,633,843 977,077
Other Americas      
Disaggregation of Revenue [Line Items]      
Revenue 72,784 46,577 26,324
EMEA      
Disaggregation of Revenue [Line Items]      
Revenue 432,634 292,666 169,268
Asia-Pacific and Japan      
Disaggregation of Revenue [Line Items]      
Revenue $ 134,623 $ 92,573 $ 46,658
v3.24.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Disaggregation of Revenue [Line Items]      
Allowance for doubtful accounts $ 2.5 $ 2.2  
Revenue recognized 1,400.0 $ 974.3 $ 535.8
Remaining performance obligation $ 5,200.0    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-02-01      
Disaggregation of Revenue [Line Items]      
Revenue, remaining performance obligation, percentage 50.00%    
Remaining performance obligation, remaining life 12 months    
v3.24.1
Cash Equivalents and Investments - Schedule of Cash and Cash Equivalents and Investments Fair Value (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Cash equivalents:    
Amortized Cost $ 1,331,709 $ 539,390
Gross Unrealized Gains 1 1
Gross Unrealized Losses (2) (2)
Estimated Fair Value 1,331,708 539,389
Investments:    
Amortized Cost 3,005,041 4,176,983
Gross Unrealized Gains 2,958 2,753
Gross Unrealized Losses (8,193) (38,747)
Estimated Fair Value 2,999,806 4,140,989
Amortized Cost 4,336,750 4,716,373
Gross Unrealized Gains 2,959 2,754
Gross Unrealized Losses (8,195) (38,749)
Estimated Fair Value 4,331,514 4,680,378
Corporate notes and bonds    
Investments:    
Amortized Cost 1,549,151 2,124,454
Gross Unrealized Gains 1,959 2,096
Gross Unrealized Losses (3,394) (23,470)
Estimated Fair Value 1,547,716 2,103,080
U.S. government and agency securities    
Investments:    
Amortized Cost 877,496 715,949
Gross Unrealized Gains 574 107
Gross Unrealized Losses (4,653) (12,220)
Estimated Fair Value 873,417 703,836
Commercial paper    
Investments:    
Amortized Cost 353,525 883,023
Gross Unrealized Gains 154 272
Gross Unrealized Losses (131) (1,947)
Estimated Fair Value 353,548 881,348
Certificates of deposit    
Investments:    
Amortized Cost 224,869 453,557
Gross Unrealized Gains 271 278
Gross Unrealized Losses (15) (1,110)
Estimated Fair Value 225,125 452,725
U.S. government securities    
Cash equivalents:    
Amortized Cost 742,235  
Gross Unrealized Gains 1  
Gross Unrealized Losses (2)  
Estimated Fair Value 742,234  
Money market funds    
Cash equivalents:    
Amortized Cost 533,211 520,138
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 533,211 520,138
Money market funds | Reclassification adjustment    
Cash equivalents:    
Estimated Fair Value   141,000
Time deposits    
Cash equivalents:    
Amortized Cost 56,263  
Gross Unrealized Gains 0  
Gross Unrealized Losses 0  
Estimated Fair Value $ 56,263  
Commercial paper    
Cash equivalents:    
Amortized Cost   9,305
Gross Unrealized Gains   0
Gross Unrealized Losses   (1)
Estimated Fair Value   9,304
Corporate notes and bonds    
Cash equivalents:    
Amortized Cost   6,902
Gross Unrealized Gains   1
Gross Unrealized Losses   0
Estimated Fair Value   6,903
Certificates of deposit    
Cash equivalents:    
Amortized Cost   3,045
Gross Unrealized Gains   0
Gross Unrealized Losses   (1)
Estimated Fair Value   $ 3,044
v3.24.1
Cash Equivalents and Investments - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
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 $ 24.2 $ 19.4
v3.24.1
Cash Equivalents and Investments - Available for Sale Securities Remaining Contractual Maturity (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Investments, Debt and Equity Securities [Abstract]    
Due within 1 year $ 2,083,499  
Due in 1 year to 3 years 916,307  
Total 2,999,806  
Debt Securities, Available-for-sale, Unrealized Loss Position    
Less than 12 months, fair value 338,893 $ 12,348
Cash Equivalents, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss (2) (2)
12 months or greater, fair value 0 0
Cash Equivalents, Continuous Unrealized Loss Position, 12 Months Or Longer, Accumulated Loss 0 0
Cash Equivalents, Unrealized loss position, fair value 338,893 12,348
Cash Equivalents, Unrealized Loss Position, Accumulated Loss (2) (2)
Less than 12 months, fair value 1,395,409 2,105,083
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss (2,728) (14,735)
12 months or greater, fair value 513,815 969,202
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss (5,465) (24,012)
Debt Securities, Available-for-sale, Unrealized Loss Position 1,909,224 3,074,285
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss (8,193) (38,747)
Cash Equivalents And Debt Securities, Available-For-Sale, Continuous Unrealized Loss Position, Less Than 12 Months 1,734,302 2,117,431
Cash Equivalents And Debt Securities, Available-For-Sale, Continuous Unrealized Loss Position, Less Than 12 Months, Accumulated Loss (2,730) (14,737)
Cash Equivalents And Debt Securities, Available-For-Sale, Continuous Unrealized Loss Position, 12 Months Or Longer 513,815 969,202
Cash Equivalents And Debt Securities, Available-For-Sale, Continuous Unrealized Loss Position, 12 Months Or Longer, Accumulated Loss (5,465) (24,012)
Cash Equivalents And Debt Securities, Available-For-Sale, Unrealized Loss Position 2,248,117 3,086,633
Cash Equivalents And Debt Securities, Available-For-Sale, Unrealized Loss Position, Accumulated Loss (8,195) (38,749)
Corporate notes and bonds    
Debt Securities, Available-for-sale, Unrealized Loss Position    
Less than 12 months, fair value 625,766 899,655
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss (1,259) (8,521)
12 months or greater, fair value 321,952 736,431
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss (2,135) (14,949)
Debt Securities, Available-for-sale, Unrealized Loss Position 947,718 1,636,086
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss (3,394) (23,470)
U.S. government and agency securities    
Debt Securities, Available-for-sale, Unrealized Loss Position    
Less than 12 months, fair value 525,408 387,207
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss (1,323) (3,157)
12 months or greater, fair value 191,863 232,771
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss (3,330) (9,063)
Debt Securities, Available-for-sale, Unrealized Loss Position 717,271 619,978
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss (4,653) (12,220)
Commercial paper    
Debt Securities, Available-for-sale, Unrealized Loss Position    
Less than 12 months, fair value 172,422 561,793
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss (131) (1,947)
12 months or greater, fair value 0 0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 0 0
Debt Securities, Available-for-sale, Unrealized Loss Position 172,422 561,793
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss (131) (1,947)
Certificates of deposit    
Debt Securities, Available-for-sale, Unrealized Loss Position    
Less than 12 months, fair value 71,813 256,428
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss (15) (1,110)
12 months or greater, fair value 0 0
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss 0 0
Debt Securities, Available-for-sale, Unrealized Loss Position 71,813 256,428
Debt Securities, Available-for-Sale, Unrealized Loss Position, Accumulated Loss $ (15) (1,110)
Commercial paper    
Debt Securities, Available-for-sale, Unrealized Loss Position    
Less than 12 months, fair value   9,304
Cash Equivalents, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss   (1)
12 months or greater, fair value   0
Cash Equivalents, Continuous Unrealized Loss Position, 12 Months Or Longer, Accumulated Loss   0
Cash Equivalents, Unrealized loss position, fair value   9,304
Cash Equivalents, Unrealized Loss Position, Accumulated Loss   (1)
Certificates of deposit    
Debt Securities, Available-for-sale, Unrealized Loss Position    
Less than 12 months, fair value   3,044
Cash Equivalents, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss   (1)
12 months or greater, fair value   0
Cash Equivalents, Continuous Unrealized Loss Position, 12 Months Or Longer, Accumulated Loss   0
Cash Equivalents, Unrealized loss position, fair value   3,044
Cash Equivalents, Unrealized Loss Position, Accumulated Loss   $ (1)
v3.24.1
Cash Equivalents and Investments - Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Cash Equivalents, Fair Value    
Less than 12 months, fair value $ 338,893 $ 12,348
12 months or greater, fair value 0 0
Total, fair value 338,893 12,348
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (2) (2)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (2) (2)
Investments, Fair Value    
Less than 12 months, fair value 1,395,409 2,105,083
12 months or greater, fair value 513,815 969,202
Total, fair value 1,909,224 3,074,285
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (2,728) (14,735)
12 months or greater, accumulated losses (5,465) (24,012)
Total, accumulated losses (8,193) (38,747)
Cash Equivalents And Debt Securities, Available-For-Sale [Abstract]    
Less than 12 months, fair value 1,734,302 2,117,431
12 months or greater, fair value 513,815 969,202
Total, fair value 2,248,117 3,086,633
Cash Equivalents And Debt Securities, Available-For-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, accumulated losses (2,730) (14,737)
12 months or greater, accumulated losses (5,465) (24,012)
Total, accumulated losses (8,195) (38,749)
Corporate notes and bonds    
Investments, Fair Value    
Less than 12 months, fair value 625,766 899,655
12 months or greater, fair value 321,952 736,431
Total, fair value 947,718 1,636,086
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (1,259) (8,521)
12 months or greater, accumulated losses (2,135) (14,949)
Total, accumulated losses (3,394) (23,470)
U.S. government and agency securities    
Investments, Fair Value    
Less than 12 months, fair value 525,408 387,207
12 months or greater, fair value 191,863 232,771
Total, fair value 717,271 619,978
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (1,323) (3,157)
12 months or greater, accumulated losses (3,330) (9,063)
Total, accumulated losses (4,653) (12,220)
Commercial paper    
Investments, Fair Value    
Less than 12 months, fair value 172,422 561,793
12 months or greater, fair value 0 0
Total, fair value 172,422 561,793
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (131) (1,947)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (131) (1,947)
Certificates of deposit    
Investments, Fair Value    
Less than 12 months, fair value 71,813 256,428
12 months or greater, fair value 0 0
Total, fair value 71,813 256,428
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (15) (1,110)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (15) $ (1,110)
U.S. government securities    
Cash Equivalents, Fair Value    
Less than 12 months, fair value 338,893  
12 months or greater, fair value 0  
Total, fair value 338,893  
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (2)  
12 months or greater, accumulated losses 0  
Total, accumulated losses $ (2)  
v3.24.1
Fair Value Measurements - Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Assets:    
Cash equivalents: $ 1,331,708 $ 539,389
Short-term investments 2,083,499 3,067,966
Long-term investments $ 916,307 1,073,023
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Prepaid expenses and other current assets  
Liabilities:    
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other current liabilities  
U.S. government securities    
Assets:    
Cash equivalents: $ 742,234  
Money market funds    
Assets:    
Cash equivalents: 533,211 520,138
Money market funds | Reclassification adjustment    
Assets:    
Cash equivalents:   141,000
Time deposits    
Assets:    
Cash equivalents: 56,263  
Commercial paper    
Assets:    
Cash equivalents:   9,304
Corporate notes and bonds    
Assets:    
Cash equivalents:   6,903
Certificates of deposit    
Assets:    
Cash equivalents:   3,044
Level 1 | Money market funds | Reclassification adjustment    
Assets:    
Cash equivalents:   141,000
Recurring    
Assets:    
Derivative assets 60  
Total assets 4,331,574 4,680,378
Liabilities:    
Derivative liabilities (745)  
Total liabilities (745)  
Recurring | Corporate notes and bonds    
Assets:    
Short-term investments 939,727 1,301,296
Long-term investments 607,989 801,784
Recurring | U.S. government and agency securities    
Assets:    
Short-term investments 573,780 440,128
Long-term investments 299,637 263,708
Recurring | Commercial paper    
Assets:    
Short-term investments 353,548 881,348
Recurring | Certificates of deposit    
Assets:    
Short-term investments 216,444 445,194
Long-term investments 8,681 7,531
Recurring | U.S. government securities    
Assets:    
Cash equivalents: 742,234  
Recurring | Money market funds    
Assets:    
Cash equivalents: 533,211 520,138
Recurring | Time deposits    
Assets:    
Cash equivalents: 56,263  
Recurring | Commercial paper    
Assets:    
Cash equivalents:   9,304
Recurring | Corporate notes and bonds    
Assets:    
Cash equivalents:   6,903
Recurring | Certificates of deposit    
Assets:    
Cash equivalents:   3,044
Recurring | Level 1    
Assets:    
Derivative assets 0  
Total assets 533,211 520,138
Liabilities:    
Derivative liabilities 0  
Total liabilities 0  
Recurring | Level 1 | Corporate notes and bonds    
Assets:    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | U.S. government and agency securities    
Assets:    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | Commercial paper    
Assets:    
Short-term investments 0 0
Recurring | Level 1 | Certificates of deposit    
Assets:    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | U.S. government securities    
Assets:    
Cash equivalents: 0  
Recurring | Level 1 | Money market funds    
Assets:    
Cash equivalents: 533,211 520,138
Recurring | Level 1 | Time deposits    
Assets:    
Cash equivalents: 0  
Recurring | Level 1 | Commercial paper    
Assets:    
Cash equivalents:   0
Recurring | Level 1 | Corporate notes and bonds    
Assets:    
Cash equivalents:   0
Recurring | Level 1 | Certificates of deposit    
Assets:    
Cash equivalents:   0
Recurring | Level 2    
Assets:    
Derivative assets 60  
Total assets 3,798,363 4,160,240
Liabilities:    
Derivative liabilities (745)  
Total liabilities (745)  
Recurring | Level 2 | Corporate notes and bonds    
Assets:    
Short-term investments 939,727 1,301,296
Long-term investments 607,989 801,784
Recurring | Level 2 | U.S. government and agency securities    
Assets:    
Short-term investments 573,780 440,128
Long-term investments 299,637 263,708
Recurring | Level 2 | Commercial paper    
Assets:    
Short-term investments 353,548 881,348
Recurring | Level 2 | Certificates of deposit    
Assets:    
Short-term investments 216,444 445,194
Long-term investments 8,681 7,531
Recurring | Level 2 | U.S. government securities    
Assets:    
Cash equivalents: 742,234  
Recurring | Level 2 | Money market funds    
Assets:    
Cash equivalents: 0 0
Recurring | Level 2 | Time deposits    
Assets:    
Cash equivalents: $ 56,263  
Recurring | Level 2 | Commercial paper    
Assets:    
Cash equivalents:   9,304
Recurring | Level 2 | Corporate notes and bonds    
Assets:    
Cash equivalents:   6,903
Recurring | Level 2 | Certificates of deposit    
Assets:    
Cash equivalents:   $ 3,044
v3.24.1
Fair Value Measurements - Schedule of Fair Value Measurements (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Fair Value Disclosures [Abstract]    
Non-marketable equity securities under Measurement Alternative $ 190,238 $ 174,248
Non-marketable equity securities under equity method 5,307 5,066
Marketable equity securities 37,320 22,122
Non-marketable debt securities 1,500 1,500
Total strategic investments—included in other assets $ 234,365 $ 202,936
v3.24.1
Fair Value Measurements - Unrealized Gain (Loss) on Investments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Upward adjustments $ 0 $ 4,125 $ 32,975
Impairments (3,101) (38,036) 0
Net unrealized gains (losses) on marketable equity securities 15,197 (12,524) (5,354)
Net unrealized gains (losses) on strategic investments in equity securities 12,096 (46,435) 27,621
Realized gains on non-marketable equity securities under measurement alternative 34,713 0 0
Total—included in other income (expense), net 46,809 $ (46,435) $ 27,621
Samooha, Inc.      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Equity interest in acquiree, remeasurement gain $ 34,000    
v3.24.1
Fair Value Measurements - Narrative (Details)
$ in Millions
Jan. 31, 2024
USD ($)
Fair Value Disclosures [Abstract]  
Cumulative amount of upward adjustments $ 37.1
Impairments $ 41.1
v3.24.1
Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Property, Plant and Equipment    
Total property and equipment, gross $ 322,105 $ 207,669
Less: accumulated depreciation and amortization (74,641) (46,846)
Total property and equipment, net 247,464 160,823
Leasehold improvements    
Property, Plant and Equipment    
Total property and equipment, gross 67,804 59,872
Computers, equipment, and software    
Property, Plant and Equipment    
Total property and equipment, gross 29,859 20,050
Furniture and fixtures    
Property, Plant and Equipment    
Total property and equipment, gross 17,593 14,800
Capitalized internal-use software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 93,222 44,059
Less: accumulated depreciation and amortization (30,000) (19,900)
Construction in progress—capitalized internal-use software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 78,737 61,575
Construction in progress—other    
Property, Plant and Equipment    
Total property and equipment, gross $ 34,890 $ 7,313
v3.24.1
Property and Equipment, Net - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Property, Plant and Equipment [Abstract]      
Depreciation $ 37,700,000 $ 24,700,000 $ 13,700,000
Accumulated amortization, property, plant, and equipment 19,000,000 10,200,000 4,200,000
Impairment of capitalized internal-use software $ 7,100,000 $ 0 $ 0
v3.24.1
Business Combinations - Narrative (Details)
shares in Thousands
 3 Months Ended 12 Months Ended
Dec. 20, 2023
USD ($)
shares
Feb. 10, 2023
USD ($)
Sep. 23, 2022
USD ($)
Mar. 31, 2022
USD ($)
founder
shares
Jul. 31, 2023
USD ($)
Jan. 31, 2024
USD ($)
shares
Jan. 31, 2023
USD ($)
founder
shares
Dec. 19, 2023
USD ($)
Jan. 31, 2022
USD ($)
Business Acquisition [Line Items]                  
Non-marketable equity securities under Measurement Alternative           $ 190,238,000 $ 174,248,000    
Goodwill           $ 975,906,000 $ 657,370,000   $ 8,449,000
Restricted Common Stock | Outside of the Plans                  
Business Acquisition [Line Items]                  
Granted (in shares) | shares           385 409    
Samooha, Inc.                  
Business Acquisition [Line Items]                  
Non-marketable equity securities under Measurement Alternative               $ 4,800,000  
Samooha, Inc.                  
Business Acquisition [Line Items]                  
Equity interest in acquiree, remeasurement gain           $ 34,000,000      
Cash acquired $ 9,589,000                
Intangible assets acquired $ 25,000,000                
Estimated Useful Life (in years) 5 years                
Goodwill $ 189,838,000                
Business combination, acquisition related costs           0      
Consideration transferred $ 5,761,000                
Samooha, Inc. | Restricted Common Stock | Outside of the Plans | Class A Common Stock                  
Business Acquisition [Line Items]                  
Granted (in shares) | shares 400                
Vesting period (in years) 4 years                
Fair value $ 74,800,000                
Requisite service period 4 years                
Neeva Inc.                  
Business Acquisition [Line Items]                  
Consideration transferred         $ 185,400,000        
Cash acquired         43,968,000        
Intangible assets acquired         $ 83,000,000        
Estimated Useful Life (in years)         5 years        
Goodwill         $ 63,138,000        
Business combination, acquisition related costs           0      
Streamlit, Inc.                  
Business Acquisition [Line Items]                  
Consideration transferred       $ 650,755,000          
Cash acquired       33,914,000          
Intangible assets acquired       $ 150,000,000          
Estimated Useful Life (in years)       5 years          
Goodwill       $ 494,411,000          
Business combination, acquisition related costs             $ 1,900,000    
Consideration transferred       $ 211,839,000          
Number of founders | founder       3     3    
Streamlit, Inc. | Restricted Common Stock | Outside of the Plans | Class A Common Stock                  
Business Acquisition [Line Items]                  
Granted (in shares) | shares       400          
Vesting period (in years)       3 years          
Fair value       $ 93,700,000          
Requisite service period       3 years          
Applica Sp. z.o.o.                  
Business Acquisition [Line Items]                  
Cash acquired     $ 61,000            
Intangible assets acquired     $ 35,000,000            
Estimated Useful Life (in years)     5 years            
Goodwill     $ 146,444,000            
Business combination, acquisition related costs             $ 3,400,000    
Consideration transferred     $ 174,700,000            
Mountain US Corporation (formerly known as Mobilize.Net Corporation)                  
Business Acquisition [Line Items]                  
Consideration transferred   $ 76,300,000              
Cash acquired   11,594,000              
Intangible assets acquired   $ 33,000,000              
Estimated Useful Life (in years)   5 years              
Goodwill   $ 46,426,000              
Business combination, acquisition related costs           0      
LeapYear Technologies, Inc.                  
Business Acquisition [Line Items]                  
Consideration transferred   62,000,000              
Cash acquired   3,563,000              
Intangible assets acquired   $ 53,000,000              
Estimated Useful Life (in years)   5 years              
Goodwill   $ 9,029,000              
Business combination, acquisition related costs           0      
Privately-Held Company                  
Business Acquisition [Line Items]                  
Consideration transferred           16,600,000      
Cash acquired           1,600,000      
Intangible assets acquired           $ 4,900,000      
Estimated Useful Life (in years)           5 years      
Goodwill           $ 10,100,000 8,100,000    
Business combination, acquisition related costs           0      
Consideration transferred             10,400,000    
Intangible assets             $ 2,000,000    
Estimated useful life             5 years    
Net tangible assets acquired             $ 300,000    
Mountain US Corporation                  
Business Acquisition [Line Items]                  
Business combination, acquisition related costs           $ 0      
v3.24.1
Business Combinations - Schedule of Acquisition Date Fair Value of Consideration Transferred (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 20, 2023
Mar. 31, 2022
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Business Acquisition [Line Items]          
Common stock     $ 174,284 $ 438,916 $ 0
Samooha, Inc.          
Business Acquisition [Line Items]          
Cash $ 5,761        
Deferred cash consideration 231        
Fair value of previously held equity investment 38,818        
Total $ 219,035        
Business acquisition, share price (in dollars per share) $ 194.28        
Samooha, Inc. | Investing Subsidiary          
Business Acquisition [Line Items]          
Business acquisition, equity interest issued or issuable (in shares) 200   200    
Samooha, Inc. | Class A Common Stock          
Business Acquisition [Line Items]          
Common stock $ 174,225        
Samooha, Inc. | Class A Common Stock | Non-affiliated Selling Stockholders          
Business Acquisition [Line Items]          
Business acquisition, equity interest issued or issuable (in shares) 900        
Streamlit, Inc.          
Business Acquisition [Line Items]          
Cash   $ 211,839      
Streamlit, Inc. | Class A Common Stock          
Business Acquisition [Line Items]          
Common stock   $ 438,916      
Business acquisition, equity interest issued or issuable (in shares)   1,900      
Business acquisition, share price (in dollars per share)   $ 229.13      
v3.24.1
Business Combinations - Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 20, 2023
Feb. 10, 2023
Sep. 23, 2022
Mar. 31, 2022
Jul. 31, 2023
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Business Acquisition [Line Items]                
Goodwill           $ 975,906 $ 657,370 $ 8,449
Samooha, Inc.                
Business Acquisition [Line Items]                
Cash and cash equivalents $ 9,589              
Goodwill 189,838              
Developed technology intangible asset 25,000              
Other net tangible liabilities (345)              
Deferred tax liabilities, net (5,047)              
Total $ 219,035              
Estimated Useful Life (in years) 5 years              
Neeva Inc.                
Business Acquisition [Line Items]                
Cash and cash equivalents         $ 43,968      
Goodwill         63,138      
Developed technology intangible asset         83,000      
Other net tangible liabilities         (790)      
Deferred tax liabilities, net         (3,889)      
Total         $ 185,427      
Estimated Useful Life (in years)         5 years      
Mountain US Corporation (formerly known as Mobilize.Net Corporation)                
Business Acquisition [Line Items]                
Cash and cash equivalents   $ 11,594            
Goodwill   46,426            
Developed technology intangible asset   33,000            
Other net tangible liabilities   (6,623)            
Deferred tax liabilities, net   (8,136)            
Total   $ 76,261            
Estimated Useful Life (in years)   5 years            
LeapYear Technologies, Inc.                
Business Acquisition [Line Items]                
Cash and cash equivalents   $ 3,563            
Goodwill   9,029            
Developed technology intangible asset   53,000            
Other net tangible liabilities   (1,434)            
Deferred tax liabilities, net   (2,150)            
Total   $ 62,008            
Estimated Useful Life (in years)   5 years            
Applica Sp. z.o.o.                
Business Acquisition [Line Items]                
Cash and cash equivalents     $ 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          
Streamlit, Inc.                
Business Acquisition [Line Items]                
Cash and cash equivalents       $ 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        
v3.24.1
Business Combinations - Pro Forma Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Samooha, Inc. And Neeva Inc.      
Business Acquisition [Line Items]      
Revenue $ 2,806,739 $ 2,065,730  
Net loss $ (932,308) (937,873)  
Applica Sp. z.o.o., Streamlit, Inc, And Privately-Held Company      
Business Acquisition [Line Items]      
Revenue   2,067,262 $ 1,221,461
Net loss   $ (866,099) $ (817,848)
v3.24.1
Intangible Assets and Goodwill - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Gross $ 463,102 $ 235,505
Accumulated Amortization (132,517) (50,318)
Net 330,585 185,187
Indefinite-lived intangible assets—trademarks 826 826
Total intangible assets, net 331,411 186,013
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross 243,596 48,332
Accumulated Amortization (47,919) (9,608)
Net 195,677 38,724
Developer community    
Finite-Lived Intangible Assets [Line Items]    
Gross 154,900 150,000
Accumulated Amortization (55,442) (25,206)
Net 99,458 124,794
Assembled workforce    
Finite-Lived Intangible Assets [Line Items]    
Gross 55,732 28,252
Accumulated Amortization (22,945) (11,036)
Net 32,787 17,216
Patents    
Finite-Lived Intangible Assets [Line Items]    
Gross 8,874 8,874
Accumulated Amortization (6,211) (4,421)
Net $ 2,663 4,453
Other    
Finite-Lived Intangible Assets [Line Items]    
Gross   47
Accumulated Amortization   (47)
Net   $ 0
v3.24.1
Intangible Assets and Goodwill - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Finite-Lived Intangible Assets [Line Items]      
Amortization expense $ 82.2 $ 38.8 $ 7.8
Assembled workforce      
Finite-Lived Intangible Assets [Line Items]      
Intangible assets acquired $ 27.5    
Estimated Useful Life (in years) 4 years    
v3.24.1
Intangible Assets and Goodwill - Schedule of Future Amortization Expense (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]    
2025 $ 94,777  
2026 88,519  
2027 84,366  
2028 51,800  
2029 11,123  
Thereafter 0  
Net $ 330,585 $ 185,187
v3.24.1
Intangible Assets and Goodwill - Schedule of Goodwill (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Goodwill [Roll Forward]    
Beginning balance $ 657,370 $ 8,449
Additions and related adjustments 318,536 648,921
Ending balance $ 975,906 $ 657,370
v3.24.1
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Payables and Accruals [Abstract]    
Accrued compensation $ 205,056 $ 123,173
Accrued third-party cloud infrastructure expenses 48,571 35,093
Employee contributions under employee stock purchase plan 40,641 36,648
Liabilities associated with sales, marketing and business development programs 39,571 24,218
Accrued taxes 37,108 20,003
Employee payroll tax withheld on employee stock transactions 22,479 592
Accrued professional services 9,274 11,776
Accrued purchases of property and equipment 4,508 3,876
Other 39,652 13,690
Accrued expenses and other current liabilities $ 446,860 $ 269,069
v3.24.1
Commitment and Contingencies - Schedule of Lease Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Commitments and Contingencies Disclosure [Abstract]      
Operating lease costs $ 52,892 $ 46,240 $ 35,745
Variable lease costs 11,667 7,906 6,029
Sublease income (11,943) (12,782) (12,722)
Total lease costs $ 52,616 $ 41,364 $ 29,052
v3.24.1
Commitment and Contingencies - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Commitments and Contingencies Disclosure [Abstract]      
Cash payments (receipts) included in the measurement of operating lease liabilities—operating cash flows $ 40,498 $ 42,342 $ 38,249
Operating lease liabilities arising from obtaining right-of-use assets $ 56,037 $ 72,158 $ 28,314
v3.24.1
Commitment and Contingencies - Weighted Average Remaining Lease Term and Discount Rate (Details)
Jan. 31, 2024
Jan. 31, 2023
Commitments and Contingencies Disclosure [Abstract]    
Weighted-average remaining lease term (years) 7 years 6 months 8 years 2 months 12 days
Weighted-average discount rate 6.10% 6.50%
v3.24.1
Commitment and Contingencies - Schedule of Operating Leases and Subleases (Details)
$ in Thousands
Jan. 31, 2024
USD ($)
Operating Leases  
2025 $ 46,530
2026 47,944
2027 46,651
2028 45,132
2029 43,001
Thereafter 136,207
Total lease payments (receipts) 365,465
Less: imputed interest (77,484)
Present value of operating lease liabilities 287,981
Subleases  
2025 (7,709)
2026 (5,774)
2027 (5,960)
2028 (6,153)
2029 (6,351)
Thereafter (3,235)
Total lease payments (receipts) (35,182)
Total  
2025 38,821
2026 42,170
2027 40,691
2028 38,979
2029 36,650
Thereafter 132,972
Total lease payments (receipts) $ 330,283
v3.24.1
Commitment and Contingencies - Schedule of Other Contractual Commitments (Details)
$ in Thousands
Jan. 31, 2024
USD ($)
Other Commitment, Fiscal Year Maturity [Abstract]  
2025 $ 498,704
2026 528,063
2027 563,994
2028 656,162
2029 1,176,725
Thereafter 0
Total 3,423,648
Third-Party Cloud Infrastructure Agreements And Subscription Arrangements, Spending Commitments Between June 2023 And May 2028  
Other Commitment, Fiscal Year Maturity [Abstract]  
2029 929,500
Third-Party Cloud Infrastructure Agreements And Subscription Arrangements, Spending Commitments Between June 2023 And May 2028 | Minimum  
Other Commitment, Fiscal Year Maturity [Abstract]  
Total 1,000,000
Third-Party Cloud Infrastructure Agreements And Subscription Arrangements, Spending Commitments Between January 2024 And December 2028  
Other Commitment, Fiscal Year Maturity [Abstract]  
2029 247,200
Third-Party Cloud Infrastructure Agreements And Subscription Arrangements, Spending Commitments Between January 2024 And December 2028 | Minimum  
Other Commitment, Fiscal Year Maturity [Abstract]  
Total $ 250,000
v3.24.1
Commitment and Contingencies - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Other Commitments [Line Items]      
Cost of matching contributions $ 0 $ 0 $ 0
Loss contingency accrual 0    
Letters of credit outstanding 18,200,000    
Minimum      
Other Commitments [Line Items]      
Loss contingency, range of possible loss 0    
Maximum      
Other Commitments [Line Items]      
Loss contingency, range of possible loss $ 25,000,000    
v3.24.1
Equity - Narrative (Details)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 20, 2023
USD ($)
shares
Feb. 01, 2023
shares
Mar. 31, 2022
USD ($)
founder
shares
Mar. 03, 2021
shares
Mar. 01, 2021
vote
$ / shares
shares
Feb. 28, 2021
vote
Jan. 31, 2024
USD ($)
$ / shares
shares
Jan. 31, 2023
USD ($)
founder
$ / shares
shares
Jan. 31, 2022
USD ($)
shares
Feb. 28, 2023
USD ($)
Jan. 31, 2021
shares
Sep. 30, 2020
class
$ / shares
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
Preferred stock, par value (in dollars per share) | $ / shares             $ 0.0001 $ 0.0001       $ 0.0001
Common stock, number of classes of stock | class                       2
Conversion, percent threshold           10.00%            
Stock repurchase program, authorized amount | $                   $ 2,000,000    
Shares authorized for repurchase | $             $ 1,400,000          
Repurchases of common stock as treasury stock (in shares)             (500,000)          
Treasury stock reissued (in shares)             8,000          
Common stock reserved for future issuances (shares)             121,461,000 115,449,000        
Shares authorized (in shares)             16,165,000 15,619,000 14,397,000      
Granted (per share) | $ / shares               $ 101.66        
Options granted (shares)             0 642,000 0      
Intrinsic value of shares exercised | $             $ 1,300,000 $ 1,000,000 $ 5,700,000      
Grant date fair value of vested shares | $             $ 42,300 $ 79,100 $ 81,000      
Shares available for grant (in shares)             59,371,000 52,989,000 45,446,000   32,870,000  
Stock-based compensation, net of amounts capitalized | $             $ 1,168,015 $ 861,533 $ 605,095      
Expected dividend yield             0.00% 0.00% 0.00%      
Unrecognized share-based compensation expense | $             $ 3,000,000          
Unrecognized share-based compensation expense recognition period (term)             2 years 10 months 24 days          
Employee stock purchase rights under the 2020 ESPP                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Common stock reserved for future issuances (shares)             13,764,000 11,046,000        
Shares authorized (in shares)   3,200,000                    
Stock market discount             85.00%          
Offering period             6 months          
Expected dividend yield             0.00% 0.00% 0.00%      
Stock options                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Vesting period (years)             4 years          
Expiration period (years)             10 years          
Expected dividend yield               0.00%        
Equity-Classified Restricted Stock Units (RSUs)                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Granted (in shares)             12,706,000 10,788,000 4,026,000      
Nonvested (in shares)             19,575,000 15,560,000 9,612,000   9,348,000  
2020 Plan                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Shares authorized (in shares)   16,200,000                    
2020 Plan | Stock options                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Common stock reserved for future issuances (shares)             602,000 642,000        
2020 Plan | RSUs                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Common stock reserved for future issuances (shares)             20,168,000 13,039,000        
2020 Plan | Equity-Classified Performance Shares                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Vesting period (years)             4 years          
Stock-based compensation, net of amounts capitalized | $             $ 30,800          
Granted (in shares)             500,000          
2020 Plan | Equity-Classified Performance Shares | Minimum                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Performance target, percentage             0.00%          
2020 Plan | Equity-Classified Performance Shares | Maximum                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Performance target, percentage             120.00%          
2020 Plan | Equity-Classified Performance Shares | Grant Date                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Vesting period (years)             1 year          
2020 Plan | Equity-Classified Restricted Stock Units (RSUs)                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Vesting period (years)             4 years          
2012 Plan | Stock options                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Common stock reserved for future issuances (shares)             26,767,000 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)             789,000 2,521,000        
2012 Plan | Equity-Classified Restricted Stock Units (RSUs)                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Vesting period (years)             4 years          
2012 Plan | Equity-Classified Restricted Stock Units (RSUs) | Grant Date                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Vesting period (years)             1 year          
Outside of the Plans | Restricted Common Stock                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Granted (in shares)             385,000 409,000        
Nonvested (in shares)             671,000 428,000 380,000   742,000  
Samooha, Inc. | Investing Subsidiary                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Business acquisition, equity interest issued or issuable (in shares) 200,000           200,000          
Samooha, Inc. | 2020 Plan | Liability-Classified Performance Shares                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Vesting period (years) 4 years                      
Shares available for grant (in shares) 1,700,000                      
Stock-based compensation, net of amounts capitalized | $             $ 500          
Samooha, Inc. | 2020 Plan | Liability-Classified Performance Shares | Grant Date                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Vesting period (years) 1 year                      
Streamlit, Inc.                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Number of founders | founder     3         3        
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
Common stock, par value (in dollars per share) | $ / shares         $ 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 | Samooha, Inc. | Restricted Common Stock                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Nonvested (in shares)             400,000          
Class A Common Stock | Samooha, Inc. | Outside of the Plans | Restricted Common Stock                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Granted (in shares) 400,000                      
Vesting period (in years) 4 years                      
Fair value | $ $ 74,800                      
Requisite service period 4 years                      
Class A Common Stock | Streamlit, Inc.                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Business acquisition, equity interest issued or issuable (in shares)     1,900,000                  
Class A Common Stock | Streamlit, Inc. | Outside of the Plans | Restricted Common Stock                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Granted (in shares)     400,000                  
Vesting period (in years)     3 years                  
Fair value | $     $ 93,700                  
Requisite service period     3 years                  
Nonvested (in shares)             300,000 400,000        
Class B Common Stock                        
Share-based Compensation Arrangement by Share-based Payment Award                        
Common stock, shares authorized (in shares)             185,461,000 185,461,000       355,000,000
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        
Common stock, voting rights, votes per share | vote           10            
v3.24.1
Equity - Shares Reserved For Future Issuance (Details) - shares
shares in Thousands
Jan. 31, 2024
Jan. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 121,461 115,449
Employee stock purchase rights under the 2020 ESPP    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 13,764 11,046
2012 Plan | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 26,767 35,212
2012 Plan | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 789 2,521
2020 Plan | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 602 642
2020 Plan | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 20,168 13,039
2020 Plan | Shares available for future grants    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 59,371 52,989
v3.24.1
Equity - Schedule of Stock Repurchase Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Share-Based Payment Arrangement [Abstract]      
Number of shares repurchased (in shares) 4,012    
Weighted-average price per share (in dollars per share) $ 147.50    
Aggregate purchase price $ 591,732 $ 0 $ 0
v3.24.1
Equity - Option Activity Rollforward (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Shares Available for Grant (in thousands)        
Shares available for grant, beginning (in shares) 52,989,000 45,446,000 32,870,000  
Shares authorized (in shares) 16,165,000 15,619,000 14,397,000  
Options canceled (in shares) 128,000 713,000 1,629,000  
Options granted (shares) 0 (642,000) 0  
Granted (in dollars per share)   $ 207.56    
Shares available for grant, ending (in shares) 59,371,000 52,989,000 45,446,000 32,870,000
Number of Options Outstanding (in thousands)        
Shares outstanding, beginning (in shares) 35,854,000 42,043,000 64,575,000  
Options exercise (in shares) (8,357,000) (6,118,000) (20,903,000)  
Options canceled (in shares) (128,000) (713,000) (1,629,000)  
Shares outstanding, ending (in shares) 27,369,000 35,854,000 42,043,000 64,575,000
Weighted- Average Exercise Price        
Shares outstanding, beginning balance (in dollars per share) $ 11.27 $ 7.53 $ 7.04  
Exercises (in dollars per share) 6.84 6.50 6.08  
Canceled (in shares) 70.59 8.02 6.80  
Shares outstanding, ending balance (in dollars per share) $ 12.35 $ 11.27 $ 7.53 $ 7.04
Weighted-average remaining contractual life 5 years 5 years 10 months 24 days 6 years 10 months 24 days 7 years 8 months 12 days
Aggregate Intrinsic Value (in thousands)        
Aggregate intrinsic value $ 5,023,664 $ 5,237,549 $ 11,283,299 $ 17,138,896
Vested and exercisable (in shares) 26,774,000      
Vested and exercisable, weighted average share price (in dollars per share) $ 10.00      
Vested and exercisable, weighted average remaining contractual life 5 years      
Vested and exercisable, intrinsic value $ 4,973,515      
RSUs        
Shares Available for Grant (in thousands)        
RSU's granted (in shares) (14,088,000) (10,788,000) (4,026,000)  
Shares withheld (in shares) 2,296,000 1,149,000    
RSU's forfeited (in shares) 1,881,000 1,492,000 576,000  
v3.24.1
Equity - Unvested RSA & RSU Rollforward (Details) - $ / shares
shares in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Equity-Classified Restricted Stock Units (RSUs)      
Number of Shares (in thousands)      
Unvested balance, beginning (in shares) 15,560 9,612 9,348
Granted (in shares) 12,706 10,788 4,026
Vested (in shares) (6,810) (3,348) (3,186)
Forfeited (in shares) (1,881) (1,492) (576)
Unvested balance, ending (in shares) 19,575 15,560 9,612
Weighted-Average Grant Date Fair Value per Share      
Unvested balance , beginning balance (in dollars per share) $ 181.17 $ 180.08 $ 125.06
Granted (in dollars per share) 158.28 180.65 250.46
Vested (in dollars per share) 172.38 165.30 109.44
Forfeited (in dollars per share) 176.44 206.02 169.74
Unvested balance , ending balance (in dollars per share) $ 169.82 $ 181.17 $ 180.08
2020 Plan | Equity-Classified Performance Shares      
Number of Shares (in thousands)      
Granted (in shares) 500    
2020 Plan | Liability-Classified Performance Shares      
Number of Shares (in thousands)      
Unvested balance, beginning (in shares) 0    
Granted (in shares) 1,382    
Unvested balance, ending (in shares) 1,382 0  
Outside of the Plans | Restricted Common Stock      
Number of Shares (in thousands)      
Unvested balance, beginning (in shares) 428 380 742
Granted (in shares) 385 409  
Vested (in shares) (142) (361) (362)
Unvested balance, ending (in shares) 671 428 380
Weighted-Average Grant Date Fair Value per Share      
Unvested balance , beginning balance (in dollars per share) $ 219.26 $ 2.11 $ 2.11
Granted (in dollars per share) 194.28 229.13  
Vested (in dollars per share) 199.28 2.10 2.10
Unvested balance , ending balance (in dollars per share) $ 209.15 $ 219.26 $ 2.11
v3.24.1
Equity - Valuation Assumptions (Details)
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology      
Expected dividend yield 0.00% 0.00% 0.00%
Stock options      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology      
Expected term (in years)   6 years  
Expected volatility   50.00%  
Risk-free interest rate   1.80%  
Expected dividend yield   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, minimum 48.40% 58.90% 37.30%
Expected volatility, maximum 71.30% 74.80% 49.50%
Risk-free interest rate, maximum 5.50% 3.80%  
Risk-free interest rate     0.10%
Expected dividend yield 0.00% 0.00% 0.00%
Risk-free interest rate, minimum 4.70% 0.90%  
Liability-Classified Performance Shares | 2020 Plan      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology      
Expected volatility 60.00%    
Risk-free interest rate 4.00%    
v3.24.1
Equity - Share-based Compensation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized $ 1,168,015 $ 861,533 $ 605,095
Capitalized stock-based compensation 48,830 29,417 24,174
Total stock-based compensation 1,216,845 890,950 629,269
Cost of revenue      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized 123,363 106,302 87,336
Sales and marketing      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized 299,657 246,811 185,970
Research and development      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized 644,928 407,524 232,867
General and administrative      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized $ 100,067 $ 100,896 $ 98,922
v3.24.1
Income Taxes - Schedule of Components of Loss Before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Income Tax Disclosure [Abstract]      
U.S. $ (875,703) $ (851,538) $ (717,208)
Foreign 26,480 35,545 40,248
Loss before income taxes $ (849,223) $ (815,993) $ (676,960)
v3.24.1
Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Current provision:      
State $ 754 $ 626 $ 288
Foreign 14,775 7,571 3,417
Deferred benefit:      
Federal (15,376) (21,647) 0
State (4,700) (4,410) 0
Foreign (6,686) (607) (717)
Provision for (benefit from) income taxes $ (11,233) $ (18,467) $ 2,988
v3.24.1
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Income Tax Disclosure [Abstract]      
Income tax benefit computed at federal statutory rate $ (178,337) $ (171,359) $ (142,162)
State taxes, net of federal benefit 26,380 14,948 35,360
Research and development credits (101,725) (58,136) (142,544)
Stock-based compensation (148,600) (71,295) (898,234)
Change in valuation allowance 371,767 213,532 1,159,276
IRC Section 59A waived deductions 11,550 49,476 0
Other 7,732 4,367 (8,708)
Provision for (benefit from) income taxes $ (11,233) $ (18,467) $ 2,988
v3.24.1
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Deferred tax assets:    
Net operating losses carryforwards $ 1,673,213 $ 1,567,135
Capitalized research and development 420,491 147,328
Tax credit carryforwards 376,804 274,690
Stock-based compensation 109,446 123,408
Deferred revenue 82,683 31,527
Operating lease liabilities 54,008 55,079
Net unrealized losses on strategic investments 2,443 5,669
Other 31,776 14,834
Total deferred tax assets 2,750,864 2,219,670
Less: valuation allowance (2,621,009) (2,100,594)
Net deferred tax assets 129,855 119,076
Deferred tax liabilities:    
Deferred commissions (41,609) (31,940)
Intangible assets (39,173) (39,426)
Operating lease right-of-use assets (48,629) (53,829)
Other (1,326) (2,358)
Total deferred tax liabilities (130,737) (127,553)
Net deferred tax liabilities $ (882) $ (8,477)
v3.24.1
Income Taxes - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Tax Credit Carryforward [Line Items]      
Valuation allowance $ 2,621,009,000 $ 2,100,594,000  
Increase in valuation allowance 520,400,000 241,900,000  
Net operating loss carryforwards, U.S. federal 6,200,000,000    
Net operating loss carryforwards, state 5,600,000,000    
Net operating loss carryforwards, foreign 175,200,000    
Interest and penalties 0 $ 0 $ 0
Federal      
Tax Credit Carryforward [Line Items]      
Net operating loss carryforwards, not subject to expiration 6,100,000,000    
Net operating loss carryforward, subject to expiration 100,000,000    
Deferred tax assets, tax credit carryforward, subject to expiration 356,900,000    
Foreign      
Tax Credit Carryforward [Line Items]      
Net operating loss carryforwards, not subject to expiration 169,600,000    
Net operating loss carryforward, subject to expiration 5,600,000    
State      
Tax Credit Carryforward [Line Items]      
Deferred tax assets, tax credit carryforward, not subject to expiration $ 158,000,000    
v3.24.1
Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Beginning balance $ 75,180 $ 57,715 $ 19,349
Increases based on tax positions during the prior period 12,708 1,816 20
Increases based on tax positions during the current period 27,365 15,649 38,346
Ending balance $ 115,253 $ 75,180 $ 57,715
v3.24.1
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, 2024
Jan. 31, 2023
Jan. 31, 2022
Numerator:      
Net loss $ (837,990) $ (797,526) $ (679,948)
Less: comprehensive loss attributable to noncontrolling interest (1,893) (821) 0
Net loss attributable to Snowflake Inc. $ (836,097) $ (796,705) $ (679,948)
Denominator:      
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] 328,001 318,730 300,273
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] 328,001 318,730 300,273
Net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—basic (in dollars per share) [1] $ (2.55) $ (2.50) $ (2.26)
Net loss per share attributable to Snowflake Inc. Class A and Class B common stockholders—diluted (in dollars per share) [1] $ (2.55) $ (2.50) $ (2.26)
[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 11, “Equity,” for further details.
v3.24.1
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, 2024
Jan. 31, 2023
Jan. 31, 2022
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) 49,281 52,125 52,197
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) 27,369 35,854 42,043
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) 20,957 15,560 9,612
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) 671 446 426
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) 284 265 116
v3.24.1
Related Party Transactions (Details) - Related Party - USD ($)
 1 Months Ended 12 Months Ended
Mar. 31, 2024
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Related Party Transaction [Line Items]        
Contract term (in years)   2 years    
Contract asset   $ 22,500,000    
Revenue   6,800,000 $ 3,700,000 $ 2,400,000
Receivables   $ 5,000,000 $ 0  
Subsequent Event        
Related Party Transaction [Line Items]        
Strategic investment, non-marketable equity securities $ 5,000,000