SNOWFLAKE INC., 10-Q filed on 5/31/2024
Quarterly Report
v3.24.1.1.u2
Cover - shares
shares in Millions
 3 Months Ended
Apr. 30, 2024
May 07, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Apr. 30, 2024  
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, $0.0001 par value  
Trading Symbol SNOW  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   334.8
Entity Central Index Key 0001640147  
Current Fiscal Year End Date --01-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.24.1.1.u2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Apr. 30, 2024
Jan. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,330,411 $ 1,762,749
Short-term investments 2,200,935 2,083,499
Accounts receivable, net 345,505 926,902
Deferred commissions, current 85,448 86,096
Prepaid expenses and other current assets 180,991 180,018
Total current assets 4,143,290 5,039,264
Long-term investments 927,981 916,307
Property and equipment, net 263,667 247,464
Operating lease right-of-use assets 244,681 252,128
Goodwill 975,906 975,906
Intangible assets, net 307,967 331,411
Deferred commissions, non-current 179,917 187,093
Other assets 254,609 273,810
Total assets 7,298,018 8,223,383
Current liabilities:    
Accounts payable 64,239 51,721
Accrued expenses and other current liabilities 398,002 446,860
Operating lease liabilities, current 30,940 33,944
Deferred revenue, current 1,935,642 2,198,705
Total current liabilities 2,428,823 2,731,230
Operating lease liabilities, non-current 247,501 254,037
Deferred revenue, non-current 14,692 14,402
Other liabilities 39,310 33,120
Total liabilities 2,730,326 3,032,789
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 April 30, 2024 and January 31, 2024 0 0
Common stock; $0.0001 par value per share; 2,500,000 Class A shares authorized, 335,264 and 334,453 shares issued and outstanding as of April 30, 2024 and January 31, 2024, respectively (excluding $200 shares held by a wholly-owned subsidiary and treated as treasury stock for accounting purposes as of each April 30, 2024 and January 31, 2024); 185,461 Class B shares authorized, zero shares issued and outstanding as of each April 30, 2024 and January 31, 2024 34 34
Treasury stock, at cost; 469 and 492 shares held as of April 30, 2024 and January 31, 2024, respectively (63,958) (67,140)
Additional paid-in capital 9,546,792 9,331,238
Accumulated other comprehensive loss (15,713) (8,220)
Accumulated deficit (4,908,921) (4,075,604)
Total Snowflake Inc. stockholders’ equity 4,558,234 5,180,308
Noncontrolling interest 9,458 10,286
Total stockholders’ equity 4,567,692 5,190,594
Total liabilities and stockholders’ equity $ 7,298,018 $ 8,223,383
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CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares
Apr. 30, 2024
Jan. 31, 2024
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) 469,000 492,000
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) 335,264,000 334,453,000
Common stock, shares outstanding (in shares) 335,264,000 334,453,000
Class A Common Stock | Investing Subsidiary    
Treasury stock (in shares) 200,000 200,000
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
v3.24.1.1.u2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Income Statement [Abstract]    
Revenue $ 828,709 $ 623,599
Cost of revenue 272,517 209,414
Gross profit 556,192 414,185
Operating expenses:    
Sales and marketing 400,822 331,558
Research and development 410,794 277,412
General and administrative 93,148 78,453
Total operating expenses 904,764 687,423
Operating loss (348,572) (273,238)
Interest income 54,779 43,131
Other expense, net (21,302) (2,562)
Loss before income taxes (315,095) (232,669)
Provision for (benefit from) income taxes 2,721 (6,605)
Net loss (317,816) (226,064)
Less: net loss attributable to noncontrolling interest (828) (437)
Net loss attributable to Snowflake Inc. $ (316,988) $ (225,627)
Net loss per share attributable to Class A common stockholders- basic (in dollars per share) $ (0.95) $ (0.70)
Net loss per share attributable to Class A common stockholders - diluted (in dollars per share) $ (0.95) $ (0.70)
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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Statement of Comprehensive Income [Abstract]    
Net loss $ (317,816) $ (226,064)
Other comprehensive income (loss):    
Net change in unrealized gains or losses on available-for-sale debt securities (7,421) 7,444
Foreign currency translation adjustments (23) 0
Other (49) 0
Total other comprehensive income (loss) (7,493) 7,444
Comprehensive loss (325,309) (218,620)
Less: comprehensive loss attributable to noncontrolling interest (828) (437)
Comprehensive loss attributable to Snowflake Inc. $ (324,481) $ (218,183)
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CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Class A Common Stock
Parent [Member]
Common Stock
Class A Common Stock
Treasury Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
Noncontrolling Interest
Beginning balance (in shares) at Jan. 31, 2023       323,305          
Beginning balance at Jan. 31, 2023 $ 5,468,615   $ 5,456,436 $ 32 $ 0 $ 8,210,750 $ (38,272) $ (2,716,074) $ 12,179
Beginning balance, treasury stock (in shares) at Jan. 31, 2023         0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares)       2,376          
Issuance of common stock upon exercise of stock options 15,333   15,333 $ 1   15,332      
Issuance of common stock under employee stock purchase plan (in shares)       312          
Issuance of common stock under employee stock purchase plan 37,065   37,065     37,065      
Vesting of early exercised stock options 61   61     61      
Vesting of restricted stock units (in shares)       1,862          
Shares withheld related to net share settlement of equity awards (in shares)       (638)          
Shares withheld related to net share settlement of equity awards (89,003)   (89,003)     (89,003)      
Repurchases of common stock (in shares)         (500)        
Repurchases of common stock as treasury stock (68,299)   (68,299)   $ (68,299)        
Repurchases and retirement of common stock (in shares)       (905)          
Repurchases and retirement of common stock (123,395)   (123,395)         (123,395)  
Stock-based compensation 276,228   276,228     276,228      
Other comprehensive income (loss) 7,444   7,444       7,444    
Net loss (226,064)   (225,627)         (225,627) (437)
Ending balance (in shares) at Apr. 30, 2023       326,312          
Ending balance at Apr. 30, 2023 5,297,985   5,286,243 $ 33 $ (68,299) 8,450,433 (30,828) (3,065,096) 11,742
Ending balance, treasury stock (in shares) at Apr. 30, 2023         (500)        
Beginning balance (in shares) at Jan. 31, 2024   334,453   334,453          
Beginning balance at Jan. 31, 2024 $ 5,190,594   5,180,308 $ 34 $ (67,140) 9,331,238 (8,220) (4,075,604) 10,286
Beginning balance, treasury stock (in shares) at Jan. 31, 2024 (492)       (492)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares) 1,379     1,370          
Issuance of common stock upon exercise of stock options $ 10,517   10,517     10,517      
Issuance of common stock under employee stock purchase plan (in shares)       346          
Issuance of common stock under employee stock purchase plan 46,735   46,735     46,735      
Issuance of common stock in connection with a business combination (in shares)       1          
Vesting of restricted stock units (in shares)       3,188          
Shares withheld related to net share settlement of equity awards (in shares)       (1,112)          
Shares withheld related to net share settlement of equity awards $ (177,084)   (177,084)     (177,084)      
Repurchases of common stock (in shares) (500)                
Repurchases and retirement of common stock (in shares)       (2,982)          
Repurchases and retirement of common stock $ (516,329)   (516,329)         (516,329)  
Reissuance of treasury stock upon settlement of equity awards (in shares)         23        
Reissuance of treasury stock upon settlement of equity awards 81   81   $ 3,182 (3,101)      
Stock-based compensation 338,487   338,487     338,487      
Other comprehensive income (loss) (7,493)   (7,493)       (7,493)    
Net loss (317,816)   (316,988)         (316,988) (828)
Ending balance (in shares) at Apr. 30, 2024   335,264   335,264          
Ending balance at Apr. 30, 2024 $ 4,567,692   $ 4,558,234 $ 34 $ (63,958) $ 9,546,792 $ (15,713) $ (4,908,921) $ 9,458
Ending balance, treasury stock (in shares) at Apr. 30, 2024 (469)       (469)        
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Cash flows from operating activities:    
Net loss $ (317,816) $ (226,064)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 40,221 23,163
Non-cash operating lease costs 13,722 12,869
Amortization of deferred commissions 22,764 17,672
Stock-based compensation, net of amounts capitalized 331,936 264,509
Net accretion of discounts on investments (11,992) (15,331)
Net realized and unrealized losses on strategic investments in equity securities 20,695 2,414
Deferred income tax 0 (8,868)
Other 669 9,978
Changes in operating assets and liabilities, net of effects of business combinations:    
Accounts receivable 579,319 362,893
Deferred commissions (14,940) (16,440)
Prepaid expenses and other assets (1,111) 5,527
Accounts payable 21,244 (3,093)
Accrued expenses and other liabilities (54,688) (8,542)
Operating lease liabilities (13,374) (10,763)
Deferred revenue (261,181) (110,480)
Net cash provided by operating activities 355,468 299,444
Cash flows from investing activities:    
Purchases of property and equipment (16,519) (6,970)
Capitalized internal-use software development costs (7,404) (9,341)
Cash paid for business combinations, net of cash, cash equivalents, and restricted cash acquired 0 (123,112)
Purchases of investments (1,078,261) (1,037,286)
Sales of investments 30,360 5,652
Maturities and redemptions of investments 921,395 808,844
Settlement of cash flow hedges (749) 0
Net cash used in investing activities (151,178) (362,213)
Cash flows from financing activities:    
Proceeds from exercise of stock options 10,686 15,370
Proceeds from issuance of common stock under employee stock purchase plan 46,735 37,065
Taxes paid related to net share settlement of equity awards (174,590) (84,399)
Repurchases of common stock (516,329) (191,694)
Net cash used in financing activities (633,498) (223,658)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (2,633) 535
Net decrease in cash, cash equivalents, and restricted cash (431,841) (285,892)
Cash, cash equivalents, and restricted cash—beginning of period 1,780,977 956,731
Cash, cash equivalents, and restricted cash—end of period 1,349,136 670,839
Supplemental disclosures of non-cash investing and financing activities:    
Property and equipment included in accounts payable and accrued expenses 16,793 8,071
Stock-based compensation included in capitalized software development costs 9,295 11,719
Unpaid taxes related to net share settlement of equity awards included in accrued expenses and other current liabilities 9,354 4,657
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 1,330,411 653,014
Restricted cash—included in other assets and prepaid expenses and other current assets 18,725 17,825
Total cash, cash equivalents, and restricted cash $ 1,349,136 $ 670,839
v3.24.1.1.u2
Organization and Description of Business
 3 Months Ended
Apr. 30, 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 AI 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.
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Basis of Presentation and Summary of Significant Accounting Policies
 3 Months Ended
Apr. 30, 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 2025 refer to the fiscal year ending January 31, 2025.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2024, which was filed with the SEC on March 26, 2024.

In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position as of April 30, 2024 and the results of operations for the three months ended April 30, 2024 and 2023, and cash flows for the three months ended April 30, 2024 and 2023. The condensed balance sheet as of January 31, 2024 was derived from the audited consolidated financial statements but does not include all disclosures required by GAAP. The results of operations for the three months ended April 30, 2024 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period.

Principles of Consolidation

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

Segment Information

The Company has a single operating and reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis 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):
April 30, 2024January 31, 2024
United States$387,161 $379,664 
Other(1)
121,187 119,928 
Total$508,348 $499,592 
________________
(1)No individual country outside of the United States accounted for more than 10% of the Company’s long-lived assets as of April 30, 2024 and January 31, 2024.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Such estimates include, but are not limited to, stand-alone selling prices (SSP) for each distinct performance obligation, 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.

Summary of Significant Accounting Policies

The Company’s significant accounting policies are discussed in “Note 2 – Basis of Presentation and Summary of Significant Accounting Policies” of the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2024, which was filed with the SEC on March 26, 2024.

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 condensed 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 condensed consolidated financial statements and disclosures.
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Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
 3 Months Ended
Apr. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
Disaggregation of Revenue

Revenue consists of the following (in thousands):

Three Months Ended April 30,
20242023
Product revenue$789,587 $590,072 
Professional services and other revenue39,122 33,527 
Total$828,709 $623,599 

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

Three Months Ended April 30,
20242023
Americas:
United States$632,041 $482,989 
Other Americas(1)
23,735 16,856 
EMEA(1)(2)
131,657 94,890 
Asia-Pacific and Japan(1)
41,276 28,864 
Total$828,709 $623,599 
________________
(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 April 30, 2024 and January 31, 2024, allowance for credit losses of $3.5 million and $2.5 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 April 30, 2024 and January 31, 2024, there were no customers that represented 10% or more of the Company’s accounts receivable, net balance. Additionally, there were no customers that represented 10% or more of the Company’s revenue for each of the three months ended April 30, 2024 and 2023.

Deferred Revenue

The Company recognized $673.5 million and $494.7 million of revenue for the three months ended April 30, 2024 and 2023, respectively, from the deferred revenue balances as of January 31, 2024 and 2023, 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 April 30, 2024, the Company’s RPO was $5.0 billion, of which the Company expects approximately 51% to be recognized as revenue in the twelve months ending April 30, 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.
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Cash Equivalents and Investments
 3 Months Ended
Apr. 30, 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 condensed consolidated balance sheets (in thousands):

April 30, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$492,568 $— $— $492,568 
U.S. government securities367,494 — (1)367,493 
Time deposits58,145 — — 58,145 
Commercial paper53,742 — (7)53,735 
Corporate notes and bonds34,423 1 (13)34,411 
Total cash equivalents1,006,372 1 (21)1,006,352 
Investments:
Corporate notes and bonds1,496,420 901 (6,658)1,490,663 
U.S. government and agency securities785,243 — (6,125)779,118 
Commercial paper528,809 37 (798)528,048 
Certificates of deposit331,079 153 (145)331,087 
Total investments3,141,551 1,091 (13,726)3,128,916 
Total cash equivalents and investments$4,147,923 $1,092 $(13,747)$4,135,268 

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 

The Company included $22.6 million and $24.2 million of interest receivable in prepaid expenses and other current assets on the condensed consolidated balance sheets as of April 30, 2024 and January 31, 2024, respectively. The Company did not recognize an allowance for credit losses against interest receivable as of April 30, 2024 and January 31, 2024 because such potential losses were not material.
As of April 30, 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 condensed consolidated balance sheets, by remaining contractual maturity, are as follows (in thousands):

April 30, 2024
Estimated
Fair Value
Due within 1 year$2,200,935 
Due in 1 year to 3 years927,981 
Total$3,128,916 

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 condensed consolidated balance sheets (in thousands):

April 30, 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$257,696 $(1)$— $— $257,696 $(1)
Commercial paper42,735 (7)— — 42,735 (7)
Corporate notes and bonds21,406 (13)— — 21,406 (13)
Total cash equivalents321,837 (21)— — 321,837 (21)
Investments:
Corporate notes and bonds974,840 (5,218)206,956 (1,440)1,181,796 (6,658)
U.S. government and agency securities628,114 (3,628)151,004 (2,497)779,118 (6,125)
Commercial paper422,472 (798)— — 422,472 (798)
Certificates of deposit109,602 (145)— — 109,602 (145)
Total investments2,135,028 (9,789)357,960 (3,937)2,492,988 (13,726)
Total cash equivalents and investments$2,456,865 $(9,810)$357,960 $(3,937)$2,814,825 $(13,747)
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)

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 April 30, 2024 and January 31, 2024.

See Note 5, “Fair Value Measurements,” for information regarding the Company’s strategic investments.
v3.24.1.1.u2
Fair Value Measurements
 3 Months Ended
Apr. 30, 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 April 30, 2024 (in thousands):

Level 1
Level 2
Total
Assets:
Cash equivalents:
Money market funds$492,568 $— $492,568 
U.S. government securities— 367,493 367,493 
Time deposits— 58,145 58,145 
Commercial paper— 53,735 53,735 
Corporate notes and bonds— 34,411 34,411 
Short-term investments:
Corporate notes and bonds— 834,770 834,770 
Commercial paper— 528,048 528,048 
U.S. government and agency securities— 518,716 518,716 
Certificates of deposit— 319,401 319,401 
Long-term investments:
Corporate notes and bonds— 655,893 655,893 
U.S. government and agency securities— 260,402 260,402 
Certificates of deposit— 11,686 11,686 
Derivative assets:
Foreign currency forward contracts— 1,041 1,041 
Total assets$492,568 $3,643,741 $4,136,309 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts$— $(1,512)$(1,512)
Total liabilities
$— $(1,512)$(1,512)
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 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 (i) non-marketable equity securities recorded at cost minus impairment, if any, and adjusted for observable transactions for the same or similar investments of the same issuer (referred to as the Measurement Alternative), and (ii) 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):

April 30, 2024January 31, 2024
Equity securities:
Non-marketable equity securities under Measurement Alternative$198,579 $190,238 
Non-marketable equity securities under equity method5,388 5,307 
Marketable equity securities12,606 37,320 
Debt securities:
Non-marketable debt securities1,985 1,500 
Total strategic investments—included in other assets$218,558 $234,365 

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

Three Months Ended April 30,
20242023
Unrealized losses on non-marketable equity securities under Measurement Alternative:
Impairments$(18,753)$— 
Net unrealized losses on marketable equity securities
(3,655)(2,414)
Net unrealized losses on strategic investments in equity securities
(22,408)(2,414)
Net realized gains on marketable equity securities sold(1)
1,713 — 
Total—included in other expense, net$(20,695)$(2,414)
________________
(1)Represents the difference between the sale proceeds and the carrying value of the security at the beginning of the period or the purchase date, if later.

The cumulative upward adjustments and the cumulative impairments to the carrying value of the non-marketable equity securities accounted for using the Measurement Alternative held by the Company as of April 30, 2024 were $37.1 million and $59.9 million, respectively.
v3.24.1.1.u2
Property and Equipment, Net
 3 Months Ended
Apr. 30, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

April 30, 2024January 31, 2024
Leasehold improvements$96,281 $67,804 
Computers, equipment, and software46,092 29,859 
Furniture and fixtures22,233 17,593 
Capitalized internal-use software development costs150,350 93,222 
Construction in progress—capitalized internal-use software development costs37,807 78,737 
Construction in progress—other1,548 34,890 
Total property and equipment, gross354,311 322,105 
Less: accumulated depreciation and amortization(1)
(90,644)(74,641)
Total property and equipment, net$263,667 $247,464 
________________
(1)Includes $40.4 million and $30.0 million of accumulated amortization related to capitalized internal-use software development costs as of April 30, 2024 and January 31, 2024, respectively.
Depreciation and amortization expense was $16.8 million and $7.6 million for the three months ended April 30, 2024 and 2023, respectively. Included in these amounts was the amortization of capitalized internal-use software development costs of $10.9 million and $3.5 million for the three months ended April 30, 2024 and 2023, respectively.

During the three months ended April 30, 2023, 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 condensed consolidated statements of operations. No impairment charge was recognized during the three months ended April 30, 2024.
v3.24.1.1.u2
Business Combinations
 3 Months Ended
Apr. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Business Combinations Business Combinations
Fiscal 2024

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

Acquisition-related costs, recorded as general and administrative expenses, associated with each of the business combinations above were not material during the three months ended April 30, 2023.

Pro forma financial information has not been presented as the effects of each of the Mountain and LeapYear business combinations were not material to the Company’s condensed consolidated financial statements.
v3.24.1.1.u2
Intangible Assets and Goodwill
 3 Months Ended
Apr. 30, 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):

April 30, 2024
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$243,596 $(59,853)$183,743 
Developer community154,900 (63,072)91,828 
Assembled workforce55,732 (26,384)29,348 
Patents8,874 (6,652)2,222 
Total finite-lived intangible assets$463,102 $(155,961)$307,141 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$307,967 
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 

Amortization expense of intangible assets was $23.4 million and $15.6 million for the three months ended April 30, 2024 and 2023, respectively.

As of April 30, 2024, future amortization expense is expected to be as follows (in thousands):

Amount
Fiscal Year Ending January 31,
Remainder of 2025$71,341 
202688,513 
202784,360 
202851,795 
202911,132 
Thereafter— 
Total$307,141 
Goodwill
v3.24.1.1.u2
Accrued Expenses and Other Current Liabilities
 3 Months Ended
Apr. 30, 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):

April 30, 2024January 31, 2024
Accrued compensation$166,649 $205,056 
Accrued third-party cloud infrastructure expenses71,741 48,571 
Liabilities associated with sales, marketing and business development programs56,855 39,571 
Employee contributions under employee stock purchase plan15,943 40,641 
Accrued taxes11,926 37,108 
Employee payroll tax withheld on employee stock transactions11,728 22,479 
Accrued professional services9,397 9,274 
Accrued purchases of property and equipment9,121 4,508 
Other44,642 39,652 
Total accrued expenses and other current liabilities$398,002 $446,860 
v3.24.1.1.u2
Commitments and Contingencies
 3 Months Ended
Apr. 30, 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. Sublease income is recorded as a reduction to the Company’s operating lease costs. Sublease income was $2.4 million and $3.1 million for the three months ended April 30, 2024 and 2023, respectively.

In May 2024, the Company entered into an agreement related to a new office facility located in the United States. The lease will commence in fiscal 2025 with an expiration date in fiscal 2039. Total commitment, net of tenant incentives expected to be received, under the lease is estimated to be approximately $96 million.

Other Contractual Commitments—Other contractual commitments relate mainly to third-party cloud infrastructure agreements and subscription arrangements used to facilitate the Company’s operations at the enterprise level. There were no material contractual obligations that were entered into during the three months ended April 30, 2024 that were outside the ordinary course of business.

401(k) Plan—The Company sponsors a 401(k) defined contribution plan covering all eligible U.S. employees. Contributions to the 401(k) plan are discretionary. The Company did not make any matching contributions to the 401(k) plan for each of the three months ended April 30, 2024 and 2023.

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 as of April 30, 2024 and 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 April 30, 2024, the Company had a total of $18.7 million in cash collateralized letters of credit outstanding, substantially in favor of certain landlords for the Company’s leased facilities. These letters of credit renew annually and expire at various dates through fiscal 2033.

Indemnification—The Company enters into indemnification provisions under agreements with other parties in the ordinary course of business, including business partners, investors, contractors, customers, and the Company’s officers, non-employee directors, and certain employees. The Company has agreed to indemnify and defend the indemnified party for claims and related losses suffered or incurred by the indemnified party from actual or threatened third-party claims due to the Company’s activities or non-compliance with certain representations and warranties made by the Company. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. For each of the three months ended April 30, 2024 and 2023, losses recorded in the condensed consolidated statements of operations in connection with the indemnification provisions were not material.
v3.24.1.1.u2
Equity
 3 Months Ended
Apr. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Equity Equity
Common Stock—The Company had reserved shares of common stock for future issuance as follows (in thousands):

April 30, 2024January 31, 2024
2012 Equity Incentive Plan:
Options outstanding25,296 26,767 
Restricted stock units outstanding388 789 
2020 Equity Incentive Plan:
Options outstanding1,562 602 
Restricted stock units outstanding22,653 20,168 
Shares available for future grants71,037 59,371 
2020 Employee Stock Purchase Plan:
Shares available for future grants16,759 13,764 
Total shares of common stock reserved for future issuance137,695 121,461 

Stock Repurchase Program and Treasury Stock—In February 2023, the Company’s board of directors authorized a stock repurchase program of up to $2.0 billion of its outstanding Class A 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):

Three Months Ended April 30,
20242023
Number of shares repurchased2,982 1,405 
Weighted-average price per share(1)
$173.14 $136.39 
Aggregate purchase price(1)
$516,329 $191,694 
________________
(1)Includes transaction costs associated with the repurchases.

As of April 30, 2024, $891.9 million remained available for future stock repurchases under the stock repurchase program. The first 0.5 million shares repurchased during the three months ended April 30, 2023 were recorded in treasury stock as a reduction to the stockholders’ equity on the condensed consolidated balance sheets. All shares of Class A common stock subsequently repurchased were retired. Upon retirement, the par value of the common stock repurchased was deducted from common stock and any excess of repurchase price (including associated transaction costs) over par value was recorded entirely to retained earnings (accumulated deficit) on the condensed consolidated balance sheets.

Equity Incentive Plans—The Company’s 2020 Equity Incentive Plan (2020 Plan), which became effective in connection with its Initial Public Offering (IPO), provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards (RSUs), performance awards and other forms of equity compensation (collectively, equity awards). All shares that remain available for future grants are under the 2020 Plan.
The Company’s 2012 Equity Incentive Plan (2012 Plan) provided for the grant of equity awards to employees, non-employee directors, and other service providers of the Company. The 2012 Plan was terminated in September 2020 in connection with the IPO but continues to govern the terms of outstanding awards that were granted prior to the termination of the 2012 Plan. Upon the expiration, forfeiture, cancellation, or reacquisition of any shares of common stock underlying outstanding equity awards granted under the 2012 Plan, an equal number of shares of Class A common stock will become available for grant under the 2020 Plan. No further equity awards will be granted under the 2012 Plan.

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

On February 1, 2024, the shares available for grant under the 2020 Plan and the 2020 ESPP were automatically increased by 16.7 million shares and 3.3 million shares, respectively, pursuant to the annual evergreen increase provisions under the 2020 Plan and the 2020 ESPP.

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

A summary of stock option activity during the three months ended April 30, 2024 is as follows:

Number of Shares
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic Value
(in thousands)
Balance—January 31, 2024
27,369 $12.35 5.0$5,023,664 
Granted960 $163.04 
Exercised(1,379)$7.69 
Canceled(92)$3.75 
Balance—April 30, 2024
26,858 $18.01 4.8$3,723,873 
Vested and exercisable as of April 30, 2024
25,584 $10.61 4.7$3,715,804 

During the three months ended April 30, 2024, the Company granted a stock option with a grant-date fair value of $77.89 per share. No options were granted during the three months ended April 30, 2023. The intrinsic value of options exercised in the three months ended April 30, 2024 and 2023 was $241.8 million and $321.7 million, respectively. The aggregate grant-date fair value of options that vested during the three months ended April 30, 2024 and 2023 was $7.3 million and $16.5 million, respectively.

Equity-Classified RSUs—RSUs granted under the 2012 Plan are equity-classified and had both service-based and performance-based vesting conditions, of which the performance-based vesting condition was satisfied upon the effectiveness of the IPO in September 2020. The service-based vesting condition for these awards is typically satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. Stock-based compensation associated with RSUs granted under the 2012 Plan was recognized using an accelerated attribution method from the time it was deemed probable that the vesting condition was met through the time the service-based vesting condition had been achieved.
Equity-classified RSUs granted under the 2020 Plan include those that only contain a service-based vesting condition that is typically satisfied over four years, and the related stock-based compensation for these RSUs is recognized on a straight-line basis over the requisite service period. In addition, during each of the three months ended April 30, 2024 and 2023, 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 typically satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. The performance-based vesting condition is satisfied upon the achievement of certain Company annual performance targets set by the compensation committee of the board of directors of the Company. The ultimate number of the Leadership PRSUs eligible to vest ranges between 0% to 120% of the target number of the Leadership PRSUs based on the weighted-average achievement of such Company annual performance metrics for the respective fiscal year. Stock-based compensation associated with these Leadership PRSUs is recognized using an accelerated attribution method over the requisite service period, based on the Company’s periodic assessment of the probability that the performance condition will be achieved. The Company recognized stock-based compensation of $12.5 million and $3.9 million associated with Leadership PRSUs during the three months ended April 30, 2024 and 2023, respectively.

A summary of equity-classified RSUs activity during the three months ended April 30, 2024 is as follows:

Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2024
19,575 $169.82 
Granted(1)
5,869 $167.74 
Vested(3,202)$162.47 
Forfeited(533)$168.85 
Performance adjustment(2)
(50)$139.58 
Unvested Balance—April 30, 2024
21,659 $170.44 
________________
(1)Includes 0.8 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.
(2)Represents an adjustment in the number of shares outstanding, with regards to Leadership PRSUs granted during the three months ended April 30, 2023, based on the actual achievement of the associated Company annual performance targets for fiscal 2024.

Liability-Classified RSUs—During the fourth quarter of fiscal 2024, in connection with a business combination, the Company agreed to grant, under the 2020 Plan, RSUs that contain both post-combination service-based and performance-based vesting conditions (Acquisition PRSUs) to eligible existing or future employees, subject to a maximum total number of approximately 1.7 million shares. The post-combination service-based vesting condition for these Acquisition PRSUs is satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. The performance-based vesting condition is contingent on the achievement of certain performance metric over the 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 Company’s stock price and market capitalization.

Once granted, Acquisition PRSUs are initially liability-classified and recorded in other liabilities on the Company’s condensed consolidated balance sheets, as the monetary value of the obligation under each potential outcome of the performance condition is predominantly based on a fixed monetary amount known at inception and will be settled in a variable number of shares. Subsequently, these awards are remeasured to the fair value at each reporting date until the number of Acquisition PRSUs eligible to vest is fixed, at which time these awards will be reclassified to equity. Stock-based compensation associated with these awards is recognized based on the probable outcome of the performance condition, using an accelerated attribution method over the requisite service period, with a cumulative catch-up adjustment recognized for changes in the fair value estimated at each reporting date. As of April 30, 2024 and January 31, 2024, 1.4 million shares of these Acquisition PRSUs had been granted and remained unvested, and the associated liabilities were $3.2 million and $0.5 million, respectively. Stock-based compensation recognized for these Acquisition PRSUs was not material for the three months ended April 30, 2024.
Restricted Common Stock—From time to time, the Company has granted restricted common stock outside of the Plans. Restricted common stock is not deemed to be outstanding for accounting purposes until it vests.

A summary of restricted common stock activity during the three months ended April 30, 2024 is as follows:

Outside of the Plans
Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2024
671 $209.15 
Vested(146)$223.42 
Unvested Balance—April 30, 2024
525 $205.15 


Stock-Based Compensation—The following table summarizes the assumptions used in estimating the fair value of a stock option granted to an employee during the three months ended April 30, 2024:

Three Months Ended April 30, 2024
Expected term (in years)4.8
Expected volatility56.7 %
Risk-free interest rate4.2 %
Expected dividend yield— %

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

No stock options were granted during the three months ended April 30, 2023.

The following table summarizes the assumptions used in estimating the fair value of employee stock purchase rights granted under the 2020 ESPP during the three months ended April 30, 2024 and 2023:

Three Months Ended April 30,
20242023
Expected term (in years)0.50.5
Expected volatility49.6 %71.3 %
Risk-free interest rate5.4 %4.7 %
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 employee stock purchase rights granted under the 2020 ESPP (ESPP Rights) approximates the offering period.

Expected volatility—In fiscal 2023 and 2024, the Company used 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. During the three months ended April 30, 2024, the Company began using the average of (i) the historical volatility of its Class A common stock, and (ii) the implied volatility from publicly traded options on its Class A common stock to develop an expected volatility assumption.

Risk-free interest rate—Risk-free rate is estimated based upon quoted market yields for the United States Treasury debt securities for a term consistent with the expected life of the awards in effect at the time of grant.
Expected dividend yield—Because the Company has never paid and has no intention to pay cash dividends on common stock, the expected dividend yield is zero.

Fair value of underlying common stock—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 April 30, 2024 and January 31, 2024:

April 30, 2024January 31, 2024
Expected volatility57.0 %60.0 %
Risk-free interest rate4.9 %4.0 %

Expected volatility—In fiscal 2024, expected volatility was estimated based on the historical volatility of the Company’s Class A common stock. During the three months ended April 30, 2024, the Company began using the average of (i) the historical volatility of its Class A common stock, and (ii) the implied volatility from publicly traded options on its Class A common stock to develop an expected volatility assumption.

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

Stock-based compensation included in the condensed consolidated statements of operations was as follows (in thousands):
Three Months Ended April 30,
20242023
Cost of revenue$32,408 $30,462 
Sales and marketing73,407 72,295 
Research and development194,672 136,417 
General and administrative31,449 25,335 
Stock-based compensation, net of amounts capitalized331,936 264,509 
Capitalized stock-based compensation9,295 11,719 
Total stock-based compensation$341,231 $276,228 

As of April 30, 2024, total compensation cost related to unvested awards not yet recognized was $3.6 billion, which will be recognized over a weighted-average period of 3.0 years.
v3.24.1.1.u2
Income Taxes
 3 Months Ended
Apr. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company computes its tax provision for interim periods by applying the estimated annual effective tax rate to year-to-date pre-tax income from recurring operations and adjusting for discrete tax items arising in that quarter.

The Company had an effective tax rate of (0.9%) and 2.8% for the three months ended April 30, 2024 and 2023, respectively. The Company has incurred U.S. operating losses and has minimal profits in foreign jurisdictions.

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

The Company is subject to income taxes in the United States and numerous foreign jurisdictions. As of April 30, 2024, tax years 2012 and forward generally remain open for examination for U.S. federal and state tax purposes, and tax years 2019 and forward generally remain open for examination for foreign tax purposes.
The Company has applied ASC 740 and determined that it has uncertain tax positions giving rise to unrecognized tax benefits for each of the three months ended April 30, 2024 and 2023. The Company’s policy is to recognize interest and penalties related to uncertain tax positions in income tax expense. The Company does not anticipate any significant changes to unrecognized tax benefits over the next 12 months. None of the unrecognized tax benefits are currently expected to impact the Company’s effective tax rate, if realized, as a result of the full valuation allowance.

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 three months ended April 30, 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.
v3.24.1.1.u2
Net Loss per Share
 3 Months Ended
Apr. 30, 2024
Earnings Per Share [Abstract]  
Net Loss per Share Net Loss per Share
Basic and diluted net loss per share attributable to Snowflake Inc. Class A 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. Class A common stockholders is computed by dividing net loss attributable to Snowflake Inc. Class A common stockholders by the weighted-average number of shares of Snowflake Inc. Class A common stock outstanding during the period, which excludes treasury stock. Diluted net loss per share attributable to Snowflake Inc. Class A common stockholders is computed by giving effect to all potentially dilutive Snowflake Inc. Class A common stock equivalents to the extent they are dilutive. For purposes of this calculation, stock options, RSUs, restricted common stock, early exercised stock options, and ESPP Rights are considered to be common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. Class A common stockholders as their effect is anti-dilutive for all periods presented.

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

Three Months Ended April 30,
20242023
Numerator:
Net loss$(317,816)$(226,064)
Less: net loss attributable to noncontrolling interest(828)(437)
Net loss attributable to Snowflake Inc. Class A common stockholders$(316,988)$(225,627)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted333,584 324,157 
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted$(0.95)$(0.70)

No Class B common stock was outstanding during any periods presented.
The following potentially dilutive securities were excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. Class A common stockholders for the periods presented because the impact of including them would have been anti-dilutive (in thousands):

Three Months Ended April 30,
20242023
Stock options26,858 33,428 
RSUs23,041 20,544 
Unvested restricted common stock and early exercised stock options525 298 
Employee stock purchase rights under the 2020 ESPP111 80 
Total50,535 54,350 
v3.24.1.1.u2
Related Party Transactions
 3 Months Ended
Apr. 30, 2024
Related Party Transactions [Abstract]  
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. During the three months ended April 30, 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. Revenue recognized from the Related Party was not material for each of the three months ended April 30, 2024 and 2023. Additionally, as of April 30, 2024 and January 31, 2024, the Company did not have material accounts receivable balance due from the Related Party.
v3.24.1.1.u2
Subsequent Event
 3 Months Ended
Apr. 30, 2024
Subsequent Events [Abstract]  
Subsequent Event Subsequent Event
As set forth in Note 10, “Commitments and Contingencies,” in May 2024, the Company entered into an agreement related to a new office facility located in the United States. The lease will commence in fiscal 2025 with an expiration date in fiscal 2039. Total commitment, net of tenant incentives expected to be received, under the lease is estimated to be approximately $96 million. The Company will recognize the related right-of-use asset and lease liability, which have not yet been determined, at the lease commencement date.
v3.24.1.1.u2
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Pay vs Performance Disclosure    
Net Income (Loss) Attributable to Parent $ (316,988) $ (225,627)
v3.24.1.1.u2
Insider Trading Arrangements
 3 Months Ended
Apr. 30, 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
Frank Slootman, Director
AdoptedMarch 25, 2024X
1,024,562(1)
December 17, 2024
Grzegorz J. Czajkowski, EVP, Engineering & Support
Terminated
March 27, 2024(2)
X
561,001(1)
March 31, 2025
Grzegorz J. Czajkowski, EVP, Engineering & Support
AdoptedMarch 27, 2024X
1,279,758(1)
June 24, 2025
Teresa Briggs, Director
AdoptedMarch 29, 2024X
848
July 9, 2024
Benoit Dageville, President of Products and Director
AdoptedMarch 29, 2024X
420,136(1)(3)
June 27, 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 different due to (i) our withholding of certain shares to satisfy tax withholding obligations in connection with the vesting of restricted stock units and/or (ii) the amount of whole shares distributed in connection with the vesting of restricted stock units due to rounding, as applicable.
(2) The trading arrangement was originally adopted on December 22, 2023.
(3) The trading arrangement provides for a gift of up to 90,000 shares of our common stock.

No other directors or officers, 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
Non-Rule 10b5-1 Arrangement Terminated false
Frank Slootman [Member]  
Trading Arrangements, by Individual  
Name Frank Slootman
Title Director
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 25, 2024
Arrangement Duration 267 days
Aggregate Available 1,024,562
Teresa Briggs [Member]  
Trading Arrangements, by Individual  
Name Teresa Briggs
Title Director
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 29, 2024
Arrangement Duration 102 days
Aggregate Available 848
Benoit Dageville [Member]  
Trading Arrangements, by Individual  
Name Benoit Dageville
Title President of Products and Director
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 29, 2024
Arrangement Duration 455 days
Aggregate Available 420,136
Grzegorz J. Czajkowski December 2023 Plan [Member] | Grzegorz J. Czajkowski [Member]  
Trading Arrangements, by Individual  
Name Grzegorz J. Czajkowski
Title EVP, Engineering & Support
Rule 10b5-1 Arrangement Terminated true
Termination Date March 27, 2024
Grzegorz J. Czajkowski March 2024 Plan [Member] | Grzegorz J. Czajkowski [Member]  
Trading Arrangements, by Individual  
Name Grzegorz J. Czajkowski
Title EVP, Engineering & Support
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 27, 2024
Arrangement Duration 454 days
Aggregate Available 1,279,758
v3.24.1.1.u2
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Apr. 30, 2024
Accounting Policies [Abstract]  
Fiscal Year
Fiscal Year

The Company’s fiscal year ends on January 31. For example, references to fiscal 2025 refer to the fiscal year ending January 31, 2025.
Basis of Presentation
Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2024, which was filed with the SEC on March 26, 2024.
In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position as of April 30, 2024 and the results of operations for the three months ended April 30, 2024 and 2023, and cash flows for the three months ended April 30, 2024 and 2023. The condensed balance sheet as of January 31, 2024 was derived from the audited consolidated financial statements but does not include all disclosures required by GAAP. The results of operations for the three months ended April 30, 2024 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period.
Principles of Consolidation
Principles of Consolidation

The condensed consolidated financial statements include the accounts of Snowflake Inc., its wholly-owned subsidiaries, and a majority-owned subsidiary in which the Company has a controlling financial interest. All intercompany transactions and balances have been eliminated in consolidation. The Company records noncontrolling interest in its condensed consolidated financial statements to recognize the minority ownership interest in its majority-owned subsidiary. Profits and losses of the majority-owned subsidiary are attributed to controlling and noncontrolling interests using the hypothetical liquidation at book value method.
Segment Information
Segment Information
The Company has a single operating and reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources.
Use of Estimates
Use of Estimates

The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Such estimates include, but are not limited to, stand-alone selling prices (SSP) for each distinct performance obligation, 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.
Remaining Performance Obligations
Remaining Performance Obligations
Remaining performance obligations (RPO) represent the amount of contracted future revenue that has not yet been recognized, including (i) deferred revenue and (ii) non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. The Company’s RPO excludes performance obligations from on-demand arrangements as there are no minimum purchase commitments associated with these arrangements, and certain time and materials contracts that are billed in arrears. Portions of RPO that are not yet invoiced and are denominated in foreign currencies are revalued into U.S. dollars each period based on the applicable period-end exchange rates.
Fair Value of Financial Instruments Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

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

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

Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.
The Company determines the fair value of its security holdings based on pricing from the Company’s service providers and market prices from industry-standard independent data providers. Such market prices may be quoted prices in active markets for identical assets (Level 1 inputs) or pricing determined using inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs), such as yield curve, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, broker and dealer quotes, as well as other relevant economic measures.
Strategic Investments
Strategic Investments

The tables above do not include the Company’s strategic investments, which consist primarily of (i) non-marketable equity securities recorded at cost minus impairment, if any, and adjusted for observable transactions for the same or similar investments of the same issuer (referred to as the Measurement Alternative), and (ii) 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.
Net Loss Per Share Net Loss per Share
Basic and diluted net loss per share attributable to Snowflake Inc. Class A 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. Class A common stockholders is computed by dividing net loss attributable to Snowflake Inc. Class A common stockholders by the weighted-average number of shares of Snowflake Inc. Class A common stock outstanding during the period, which excludes treasury stock. Diluted net loss per share attributable to Snowflake Inc. Class A common stockholders is computed by giving effect to all potentially dilutive Snowflake Inc. Class A common stock equivalents to the extent they are dilutive. For purposes of this calculation, stock options, RSUs, restricted common stock, early exercised stock options, and ESPP Rights are considered to be common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. Class A common stockholders as their effect is anti-dilutive for all periods presented.
Recently Issued Accounting Pronouncements 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 condensed 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 condensed consolidated financial statements and disclosures.
v3.24.1.1.u2
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Apr. 30, 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):
April 30, 2024January 31, 2024
United States$387,161 $379,664 
Other(1)
121,187 119,928 
Total$508,348 $499,592 
________________
(1)No individual country outside of the United States accounted for more than 10% of the Company’s long-lived assets as of April 30, 2024 and January 31, 2024.
v3.24.1.1.u2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations (Tables)
 3 Months Ended
Apr. 30, 2024
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Revenue consists of the following (in thousands):

Three Months Ended April 30,
20242023
Product revenue$789,587 $590,072 
Professional services and other revenue39,122 33,527 
Total$828,709 $623,599 
Revenue from External Customers by Geographic Areas
Revenue by geographic area, based on the location of the Company’s customers (or end-customers under reseller arrangements), was as follows (in thousands):

Three Months Ended April 30,
20242023
Americas:
United States$632,041 $482,989 
Other Americas(1)
23,735 16,856 
EMEA(1)(2)
131,657 94,890 
Asia-Pacific and Japan(1)
41,276 28,864 
Total$828,709 $623,599 
________________
(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.
v3.24.1.1.u2
Cash Equivalents and Investments (Tables)
 3 Months Ended
Apr. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash and Cash Equivalents
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

April 30, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$492,568 $— $— $492,568 
U.S. government securities367,494 — (1)367,493 
Time deposits58,145 — — 58,145 
Commercial paper53,742 — (7)53,735 
Corporate notes and bonds34,423 1 (13)34,411 
Total cash equivalents1,006,372 1 (21)1,006,352 
Investments:
Corporate notes and bonds1,496,420 901 (6,658)1,490,663 
U.S. government and agency securities785,243 — (6,125)779,118 
Commercial paper528,809 37 (798)528,048 
Certificates of deposit331,079 153 (145)331,087 
Total investments3,141,551 1,091 (13,726)3,128,916 
Total cash equivalents and investments$4,147,923 $1,092 $(13,747)$4,135,268 

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

April 30, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$492,568 $— $— $492,568 
U.S. government securities367,494 — (1)367,493 
Time deposits58,145 — — 58,145 
Commercial paper53,742 — (7)53,735 
Corporate notes and bonds34,423 1 (13)34,411 
Total cash equivalents1,006,372 1 (21)1,006,352 
Investments:
Corporate notes and bonds1,496,420 901 (6,658)1,490,663 
U.S. government and agency securities785,243 — (6,125)779,118 
Commercial paper528,809 37 (798)528,048 
Certificates of deposit331,079 153 (145)331,087 
Total investments3,141,551 1,091 (13,726)3,128,916 
Total cash equivalents and investments$4,147,923 $1,092 $(13,747)$4,135,268 

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 
Schedule of Available For Sale Securities Remaining Contractual Maturity The estimated fair values of available-for-sale marketable debt securities, classified as short-term or long-term investments on the Company’s condensed consolidated balance sheets, by remaining contractual maturity, are as follows (in thousands):
April 30, 2024
Estimated
Fair Value
Due within 1 year$2,200,935 
Due in 1 year to 3 years927,981 
Total$3,128,916 
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 condensed consolidated balance sheets (in thousands):

April 30, 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$257,696 $(1)$— $— $257,696 $(1)
Commercial paper42,735 (7)— — 42,735 (7)
Corporate notes and bonds21,406 (13)— — 21,406 (13)
Total cash equivalents321,837 (21)— — 321,837 (21)
Investments:
Corporate notes and bonds974,840 (5,218)206,956 (1,440)1,181,796 (6,658)
U.S. government and agency securities628,114 (3,628)151,004 (2,497)779,118 (6,125)
Commercial paper422,472 (798)— — 422,472 (798)
Certificates of deposit109,602 (145)— — 109,602 (145)
Total investments2,135,028 (9,789)357,960 (3,937)2,492,988 (13,726)
Total cash equivalents and investments$2,456,865 $(9,810)$357,960 $(3,937)$2,814,825 $(13,747)
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)
v3.24.1.1.u2
Fair Value Measurements (Tables)
 3 Months Ended
Apr. 30, 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 April 30, 2024 (in thousands):

Level 1
Level 2
Total
Assets:
Cash equivalents:
Money market funds$492,568 $— $492,568 
U.S. government securities— 367,493 367,493 
Time deposits— 58,145 58,145 
Commercial paper— 53,735 53,735 
Corporate notes and bonds— 34,411 34,411 
Short-term investments:
Corporate notes and bonds— 834,770 834,770 
Commercial paper— 528,048 528,048 
U.S. government and agency securities— 518,716 518,716 
Certificates of deposit— 319,401 319,401 
Long-term investments:
Corporate notes and bonds— 655,893 655,893 
U.S. government and agency securities— 260,402 260,402 
Certificates of deposit— 11,686 11,686 
Derivative assets:
Foreign currency forward contracts— 1,041 1,041 
Total assets$492,568 $3,643,741 $4,136,309 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts$— $(1,512)$(1,512)
Total liabilities
$— $(1,512)$(1,512)
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)
Schedule of Fair Value Measurements
The following table presents the Company’s strategic investments by type (in thousands):

April 30, 2024January 31, 2024
Equity securities:
Non-marketable equity securities under Measurement Alternative$198,579 $190,238 
Non-marketable equity securities under equity method5,388 5,307 
Marketable equity securities12,606 37,320 
Debt securities:
Non-marketable debt securities1,985 1,500 
Total strategic investments—included in other assets$218,558 $234,365 
Unrealized Gain (Loss) on Investments
The following table summarizes the gains and losses associated with the Company’s strategic investments in equity securities (in thousands):

Three Months Ended April 30,
20242023
Unrealized losses on non-marketable equity securities under Measurement Alternative:
Impairments$(18,753)$— 
Net unrealized losses on marketable equity securities
(3,655)(2,414)
Net unrealized losses on strategic investments in equity securities
(22,408)(2,414)
Net realized gains on marketable equity securities sold(1)
1,713 — 
Total—included in other expense, net$(20,695)$(2,414)
________________
(1)Represents the difference between the sale proceeds and the carrying value of the security at the beginning of the period or the purchase date, if later.
Realized Gain (Loss) on Investments
The following table summarizes the gains and losses associated with the Company’s strategic investments in equity securities (in thousands):

Three Months Ended April 30,
20242023
Unrealized losses on non-marketable equity securities under Measurement Alternative:
Impairments$(18,753)$— 
Net unrealized losses on marketable equity securities
(3,655)(2,414)
Net unrealized losses on strategic investments in equity securities
(22,408)(2,414)
Net realized gains on marketable equity securities sold(1)
1,713 — 
Total—included in other expense, net$(20,695)$(2,414)
________________
(1)Represents the difference between the sale proceeds and the carrying value of the security at the beginning of the period or the purchase date, if later.
v3.24.1.1.u2
Property and Equipment, Net (Tables)
 3 Months Ended
Apr. 30, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

April 30, 2024January 31, 2024
Leasehold improvements$96,281 $67,804 
Computers, equipment, and software46,092 29,859 
Furniture and fixtures22,233 17,593 
Capitalized internal-use software development costs150,350 93,222 
Construction in progress—capitalized internal-use software development costs37,807 78,737 
Construction in progress—other1,548 34,890 
Total property and equipment, gross354,311 322,105 
Less: accumulated depreciation and amortization(1)
(90,644)(74,641)
Total property and equipment, net$263,667 $247,464 
________________
(1)Includes $40.4 million and $30.0 million of accumulated amortization related to capitalized internal-use software development costs as of April 30, 2024 and January 31, 2024, respectively.
v3.24.1.1.u2
Business Combinations (Tables)
 3 Months Ended
Apr. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed
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$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 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, 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.
v3.24.1.1.u2
Intangible Assets and Goodwill (Tables)
 3 Months Ended
Apr. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
Intangible assets, net consisted of the following (in thousands):

April 30, 2024
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$243,596 $(59,853)$183,743 
Developer community154,900 (63,072)91,828 
Assembled workforce55,732 (26,384)29,348 
Patents8,874 (6,652)2,222 
Total finite-lived intangible assets$463,102 $(155,961)$307,141 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$307,967 
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 
Schedule of Future Amortization Expense
As of April 30, 2024, future amortization expense is expected to be as follows (in thousands):

Amount
Fiscal Year Ending January 31,
Remainder of 2025$71,341 
202688,513 
202784,360 
202851,795 
202911,132 
Thereafter— 
Total$307,141 
v3.24.1.1.u2
Accrued Expenses and Other Current Liabilities (Tables)
 3 Months Ended
Apr. 30, 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):

April 30, 2024January 31, 2024
Accrued compensation$166,649 $205,056 
Accrued third-party cloud infrastructure expenses71,741 48,571 
Liabilities associated with sales, marketing and business development programs56,855 39,571 
Employee contributions under employee stock purchase plan15,943 40,641 
Accrued taxes11,926 37,108 
Employee payroll tax withheld on employee stock transactions11,728 22,479 
Accrued professional services9,397 9,274 
Accrued purchases of property and equipment9,121 4,508 
Other44,642 39,652 
Total accrued expenses and other current liabilities$398,002 $446,860 
v3.24.1.1.u2
Equity (Tables)
 3 Months Ended
Apr. 30, 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):
April 30, 2024January 31, 2024
2012 Equity Incentive Plan:
Options outstanding25,296 26,767 
Restricted stock units outstanding388 789 
2020 Equity Incentive Plan:
Options outstanding1,562 602 
Restricted stock units outstanding22,653 20,168 
Shares available for future grants71,037 59,371 
2020 Employee Stock Purchase Plan:
Shares available for future grants16,759 13,764 
Total shares of common stock reserved for future issuance137,695 121,461 
Class of Treasury Stock
The following table summarizes the stock repurchase activity under the Company’s stock repurchase program (in thousands, except per share data):

Three Months Ended April 30,
20242023
Number of shares repurchased2,982 1,405 
Weighted-average price per share(1)
$173.14 $136.39 
Aggregate purchase price(1)
$516,329 $191,694 
________________
(1)Includes transaction costs associated with the repurchases.
Option Activity Rollforward
A summary of stock option activity during the three months ended April 30, 2024 is as follows:

Number of Shares
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic Value
(in thousands)
Balance—January 31, 2024
27,369 $12.35 5.0$5,023,664 
Granted960 $163.04 
Exercised(1,379)$7.69 
Canceled(92)$3.75 
Balance—April 30, 2024
26,858 $18.01 4.8$3,723,873 
Vested and exercisable as of April 30, 2024
25,584 $10.61 4.7$3,715,804 
Schedule of Unvested RSU Rollforward
A summary of equity-classified RSUs activity during the three months ended April 30, 2024 is as follows:

Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2024
19,575 $169.82 
Granted(1)
5,869 $167.74 
Vested(3,202)$162.47 
Forfeited(533)$168.85 
Performance adjustment(2)
(50)$139.58 
Unvested Balance—April 30, 2024
21,659 $170.44 
________________
(1)Includes 0.8 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.
(2)Represents an adjustment in the number of shares outstanding, with regards to Leadership PRSUs granted during the three months ended April 30, 2023, based on the actual achievement of the associated Company annual performance targets for fiscal 2024.
Schedule of Unvested RSA Rollforward
A summary of restricted common stock activity during the three months ended April 30, 2024 is as follows:

Outside of the Plans
Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2024
671 $209.15 
Vested(146)$223.42 
Unvested Balance—April 30, 2024
525 $205.15 
Valuation Assumptions Schedule The following table summarizes the assumptions used in estimating the fair value of a stock option granted to an employee during the three months ended April 30, 2024:
Three Months Ended April 30, 2024
Expected term (in years)4.8
Expected volatility56.7 %
Risk-free interest rate4.2 %
Expected dividend yield— %
Valuation Assumptions Other Than Stock Options Schedule
The following table summarizes the assumptions used in estimating the fair value of employee stock purchase rights granted under the 2020 ESPP during the three months ended April 30, 2024 and 2023:

Three Months Ended April 30,
20242023
Expected term (in years)0.50.5
Expected volatility49.6 %71.3 %
Risk-free interest rate5.4 %4.7 %
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 April 30, 2024 and January 31, 2024:

April 30, 2024January 31, 2024
Expected volatility57.0 %60.0 %
Risk-free interest rate4.9 %4.0 %
Share-based Compensation Schedule
Stock-based compensation included in the condensed consolidated statements of operations was as follows (in thousands):
Three Months Ended April 30,
20242023
Cost of revenue$32,408 $30,462 
Sales and marketing73,407 72,295 
Research and development194,672 136,417 
General and administrative31,449 25,335 
Stock-based compensation, net of amounts capitalized331,936 264,509 
Capitalized stock-based compensation9,295 11,719 
Total stock-based compensation$341,231 $276,228 
v3.24.1.1.u2
Net Loss per Share (Tables)
 3 Months Ended
Apr. 30, 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 common stockholders (in thousands, except per share data):

Three Months Ended April 30,
20242023
Numerator:
Net loss$(317,816)$(226,064)
Less: net loss attributable to noncontrolling interest(828)(437)
Net loss attributable to Snowflake Inc. Class A common stockholders$(316,988)$(225,627)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted333,584 324,157 
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted$(0.95)$(0.70)
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 common stockholders for the periods presented because the impact of including them would have been anti-dilutive (in thousands):

Three Months Ended April 30,
20242023
Stock options26,858 33,428 
RSUs23,041 20,544 
Unvested restricted common stock and early exercised stock options525 298 
Employee stock purchase rights under the 2020 ESPP111 80 
Total50,535 54,350 
v3.24.1.1.u2
Basis of Presentation and Summary of Significant Accounting Policies - Summary of Long-lived Assets by Geographic Areas (Details) - USD ($)
$ in Thousands
Apr. 30, 2024
Jan. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 508,348 $ 499,592
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total 387,161 379,664
Other    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 121,187 $ 119,928
v3.24.1.1.u2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Disaggregation of Revenue [Line Items]    
Revenue $ 828,709 $ 623,599
Product revenue    
Disaggregation of Revenue [Line Items]    
Revenue 789,587 590,072
Professional services and other revenue    
Disaggregation of Revenue [Line Items]    
Revenue $ 39,122 $ 33,527
v3.24.1.1.u2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Revenue from External Customers by Geographic Areas (Details) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Disaggregation of Revenue [Line Items]    
Revenue $ 828,709 $ 623,599
United States    
Disaggregation of Revenue [Line Items]    
Revenue 632,041 482,989
Other Americas    
Disaggregation of Revenue [Line Items]    
Revenue 23,735 16,856
EMEA    
Disaggregation of Revenue [Line Items]    
Revenue 131,657 94,890
Asia-Pacific and Japan    
Disaggregation of Revenue [Line Items]    
Revenue $ 41,276 $ 28,864
v3.24.1.1.u2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Jan. 31, 2024
Disaggregation of Revenue [Line Items]      
Allowance for doubtful accounts $ 3.5   $ 2.5
Revenue recognized 673.5 $ 494.7  
Remaining performance obligation $ 5,000.0    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-01      
Disaggregation of Revenue [Line Items]      
Revenue, remaining performance obligation, percentage 51.00%    
Remaining performance obligation, remaining life 12 months    
v3.24.1.1.u2
Cash Equivalents and Investments - Schedule of Cash and Cash Equivalents and Investments Fair Value (Details) - USD ($)
$ in Thousands
Apr. 30, 2024
Jan. 31, 2024
Cash equivalents:    
Amortized Cost $ 1,006,372 $ 1,331,709
Gross Unrealized Gains 1 1
Gross Unrealized Losses (21) (2)
Estimated Fair Value 1,006,352 1,331,708
Investments:    
Amortized Cost 3,141,551 3,005,041
Gross Unrealized Gains 1,091 2,958
Gross Unrealized Losses (13,726) (8,193)
Estimated Fair Value 3,128,916 2,999,806
Amortized Cost 4,147,923 4,336,750
Gross Unrealized Gains 1,092 2,959
Gross Unrealized Losses (13,747) (8,195)
Estimated Fair Value 4,135,268 4,331,514
Corporate notes and bonds    
Investments:    
Amortized Cost 1,496,420 1,549,151
Gross Unrealized Gains 901 1,959
Gross Unrealized Losses (6,658) (3,394)
Estimated Fair Value 1,490,663 1,547,716
U.S. government and agency securities    
Investments:    
Amortized Cost 785,243 877,496
Gross Unrealized Gains 0 574
Gross Unrealized Losses (6,125) (4,653)
Estimated Fair Value 779,118 873,417
Commercial paper    
Investments:    
Amortized Cost 528,809 353,525
Gross Unrealized Gains 37 154
Gross Unrealized Losses (798) (131)
Estimated Fair Value 528,048 353,548
Certificates of deposit    
Investments:    
Amortized Cost 331,079 224,869
Gross Unrealized Gains 153 271
Gross Unrealized Losses (145) (15)
Estimated Fair Value 331,087 225,125
Money market funds    
Cash equivalents:    
Amortized Cost 492,568 533,211
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 492,568 533,211
U.S. government securities    
Cash equivalents:    
Amortized Cost 367,494 742,235
Gross Unrealized Gains 0 1
Gross Unrealized Losses (1) (2)
Estimated Fair Value 367,493 742,234
Time deposits    
Cash equivalents:    
Amortized Cost 58,145 56,263
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 58,145 $ 56,263
Commercial paper    
Cash equivalents:    
Amortized Cost 53,742  
Gross Unrealized Gains 0  
Gross Unrealized Losses (7)  
Estimated Fair Value 53,735  
Corporate notes and bonds    
Cash equivalents:    
Amortized Cost 34,423  
Gross Unrealized Gains 1  
Gross Unrealized Losses (13)  
Estimated Fair Value $ 34,411  
v3.24.1.1.u2
Cash Equivalents and Investments - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2024
Jan. 31, 2024
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 $ 22.6 $ 24.2
v3.24.1.1.u2
Cash Equivalents and Investments - Schedule of Available for Sale Securities Remaining Contractual Maturity (Details)
$ in Thousands
Apr. 30, 2024
USD ($)
Investments, Debt and Equity Securities [Abstract]  
Due within 1 year $ 2,200,935
Due in 1 year to 3 years 927,981
Total $ 3,128,916
v3.24.1.1.u2
Cash Equivalents and Investments - Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - USD ($)
$ in Thousands
Apr. 30, 2024
Jan. 31, 2024
Cash Equivalents, Fair Value    
Less than 12 months, fair value $ 321,837 $ 338,893
12 months or greater, fair value 0 0
Total, fair value 321,837 338,893
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (21) (2)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (21) (2)
Investments, Fair Value    
Less than 12 months, fair value 2,135,028 1,395,409
12 months or greater, fair value 357,960 513,815
Total, fair value 2,492,988 1,909,224
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (9,789) (2,728)
12 months or greater, accumulated losses (3,937) (5,465)
Total, accumulated losses (13,726) (8,193)
Cash Equivalents And Debt Securities, Available-For-Sale [Abstract]    
Less than 12 months, fair value 2,456,865 1,734,302
12 months or greater, fair value 357,960 513,815
Total, fair value 2,814,825 2,248,117
Cash Equivalents And Debt Securities, Available-For-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, accumulated losses (9,810) (2,730)
12 months or greater, accumulated losses (3,937) (5,465)
Total, accumulated losses (13,747) (8,195)
Corporate notes and bonds    
Investments, Fair Value    
Less than 12 months, fair value 974,840 625,766
12 months or greater, fair value 206,956 321,952
Total, fair value 1,181,796 947,718
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (5,218) (1,259)
12 months or greater, accumulated losses (1,440) (2,135)
Total, accumulated losses (6,658) (3,394)
U.S. government and agency securities    
Investments, Fair Value    
Less than 12 months, fair value 628,114 525,408
12 months or greater, fair value 151,004 191,863
Total, fair value 779,118 717,271
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (3,628) (1,323)
12 months or greater, accumulated losses (2,497) (3,330)
Total, accumulated losses (6,125) (4,653)
Commercial paper    
Investments, Fair Value    
Less than 12 months, fair value 422,472 172,422
12 months or greater, fair value 0 0
Total, fair value 422,472 172,422
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (798) (131)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (798) (131)
Certificates of deposit    
Investments, Fair Value    
Less than 12 months, fair value 109,602 71,813
12 months or greater, fair value 0 0
Total, fair value 109,602 71,813
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (145) (15)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (145) (15)
U.S. government securities    
Cash Equivalents, Fair Value    
Less than 12 months, fair value 257,696 338,893
12 months or greater, fair value 0 0
Total, fair value 257,696 338,893
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (1) (2)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (1) $ (2)
Commercial paper    
Cash Equivalents, Fair Value    
Less than 12 months, fair value 42,735  
12 months or greater, fair value 0  
Total, fair value 42,735  
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (7)  
12 months or greater, accumulated losses 0  
Total, accumulated losses (7)  
Corporate notes and bonds    
Cash Equivalents, Fair Value    
Less than 12 months, fair value 21,406  
12 months or greater, fair value 0  
Total, fair value 21,406  
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (13)  
12 months or greater, accumulated losses 0  
Total, accumulated losses $ (13)  
v3.24.1.1.u2
Fair Value Measurements - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Apr. 30, 2024
Jan. 31, 2024
Assets:    
Cash equivalents $ 1,006,352 $ 1,331,708
Short-term investments 2,200,935 2,083,499
Long-term investments 927,981 916,307
Money market funds    
Assets:    
Cash equivalents 492,568 533,211
U.S. government securities    
Assets:    
Cash equivalents 367,493 742,234
Time deposits    
Assets:    
Cash equivalents 58,145 56,263
Commercial paper    
Assets:    
Cash equivalents 53,735  
Corporate notes and bonds    
Assets:    
Cash equivalents 34,411  
Recurring    
Assets:    
Derivative assets 1,041 60
Total assets 4,136,309 4,331,574
Liabilities:    
Derivative liabilities (1,512) (745)
Total liabilities (1,512) (745)
Recurring | Corporate notes and bonds    
Assets:    
Short-term investments 834,770 939,727
Long-term investments 655,893 607,989
Recurring | Commercial paper    
Assets:    
Short-term investments 528,048 353,548
Recurring | U.S. government and agency securities    
Assets:    
Short-term investments 518,716 573,780
Long-term investments 260,402 299,637
Recurring | Certificates of deposit    
Assets:    
Short-term investments 319,401 216,444
Long-term investments 11,686 8,681
Recurring | Money market funds    
Assets:    
Cash equivalents 492,568 533,211
Recurring | U.S. government securities    
Assets:    
Cash equivalents 367,493  
Recurring | U.S. government securities    
Assets:    
Cash equivalents   742,234
Recurring | Time deposits    
Assets:    
Cash equivalents 58,145 56,263
Recurring | Commercial paper    
Assets:    
Cash equivalents 53,735  
Recurring | Corporate notes and bonds    
Assets:    
Cash equivalents 34,411  
Recurring | Level 1    
Assets:    
Derivative assets   0
Total assets 492,568 533,211
Liabilities:    
Derivative liabilities   0
Total liabilities 0 0
Recurring | Level 1 | Corporate notes and bonds    
Assets:    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | Commercial paper    
Assets:    
Short-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 | Certificates of deposit    
Assets:    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | Money market funds    
Assets:    
Cash equivalents 492,568 533,211
Recurring | Level 1 | U.S. government securities    
Assets:    
Cash equivalents 0  
Recurring | Level 1 | U.S. government securities    
Assets:    
Cash equivalents   0
Recurring | Level 1 | Time deposits    
Assets:    
Cash equivalents 0 0
Recurring | Level 1 | Commercial paper    
Assets:    
Cash equivalents 0  
Recurring | Level 1 | Corporate notes and bonds    
Assets:    
Cash equivalents 0  
Recurring | Level 2    
Assets:    
Derivative assets 1,041 60
Total assets 3,643,741 3,798,363
Liabilities:    
Derivative liabilities (1,512) (745)
Total liabilities (1,512) (745)
Recurring | Level 2 | Corporate notes and bonds    
Assets:    
Short-term investments 834,770 939,727
Long-term investments 655,893 607,989
Recurring | Level 2 | Commercial paper    
Assets:    
Short-term investments 528,048 353,548
Recurring | Level 2 | U.S. government and agency securities    
Assets:    
Short-term investments 518,716 573,780
Long-term investments 260,402 299,637
Recurring | Level 2 | Certificates of deposit    
Assets:    
Short-term investments 319,401 216,444
Long-term investments 11,686 8,681
Recurring | Level 2 | Money market funds    
Assets:    
Cash equivalents 0 0
Recurring | Level 2 | U.S. government securities    
Assets:    
Cash equivalents 367,493  
Recurring | Level 2 | U.S. government securities    
Assets:    
Cash equivalents   742,234
Recurring | Level 2 | Time deposits    
Assets:    
Cash equivalents 58,145 $ 56,263
Recurring | Level 2 | Commercial paper    
Assets:    
Cash equivalents 53,735  
Recurring | Level 2 | Corporate notes and bonds    
Assets:    
Cash equivalents $ 34,411  
v3.24.1.1.u2
Fair Value Measurements - Summary of Strategic Investments (Details) - USD ($)
$ in Thousands
Apr. 30, 2024
Jan. 31, 2024
Fair Value Disclosures [Abstract]    
Non-marketable equity securities under Measurement Alternative $ 198,579 $ 190,238
Non-marketable equity securities under equity method 5,388 5,307
Marketable equity securities 12,606 37,320
Non-marketable debt securities 1,985 1,500
Total strategic investments—included in other assets $ 218,558 $ 234,365
v3.24.1.1.u2
Fair Value Measurements - Unrealized Gain (Loss) on Investments (Details) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Fair Value Disclosures [Abstract]    
Impairments $ (18,753) $ 0
Net unrealized losses on marketable equity securities (3,655) (2,414)
Net unrealized losses on strategic investments in equity securities (22,408) (2,414)
Net realized gains on marketable equity securities sold 1,713 0
Total—included in other expense, net $ (20,695) $ (2,414)
v3.24.1.1.u2
Fair Value Measurements - Narrative (Details)
$ in Millions
Apr. 30, 2024
USD ($)
Fair Value Disclosures [Abstract]  
Upward adjustments $ 37.1
Impairments $ 59.9
v3.24.1.1.u2
Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Apr. 30, 2024
Jan. 31, 2024
Property, Plant and Equipment    
Total property and equipment, gross $ 354,311 $ 322,105
Less: accumulated depreciation and amortization (90,644) (74,641)
Total property and equipment, net 263,667 247,464
Leasehold improvements    
Property, Plant and Equipment    
Total property and equipment, gross 96,281 67,804
Computers, equipment, and software    
Property, Plant and Equipment    
Total property and equipment, gross 46,092 29,859
Furniture and fixtures    
Property, Plant and Equipment    
Total property and equipment, gross 22,233 17,593
Capitalized internal-use software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 150,350 93,222
Less: accumulated depreciation and amortization (40,400) (30,000)
Construction in progress—capitalized internal-use software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 37,807 78,737
Construction in progress—other    
Property, Plant and Equipment    
Total property and equipment, gross $ 1,548 $ 34,890
v3.24.1.1.u2
Property and Equipment, Net - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Property, Plant and Equipment [Abstract]    
Depreciation $ 16.8 $ 7.6
Accumulated amortization, property, plant, and equipment 10.9 3.5
Impairment of capitalized internal-use software $ 0.0 $ 7.1
v3.24.1.1.u2
Business Combinations - Narrative (Details) - USD ($)
 3 Months Ended
Feb. 10, 2023
Apr. 30, 2023
Mountain US Corporation    
Business Acquisition [Line Items]    
Consideration transferred $ 76,300,000  
Business combination, acquisition related costs   $ 0
LeapYear Technologies, Inc.    
Business Acquisition [Line Items]    
Consideration transferred $ 62,000,000  
Business combination, acquisition related costs   $ 0
v3.24.1.1.u2
Business Combinations - Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
Feb. 10, 2023
Apr. 30, 2024
Jan. 31, 2024
Business Acquisition [Line Items]      
Goodwill   $ 975,906 $ 975,906
Mountain US 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    
v3.24.1.1.u2
Intangible Assets and Goodwill - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Apr. 30, 2024
Jan. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross $ 463,102 $ 463,102
Accumulated Amortization (155,961) (132,517)
Net 307,141 330,585
Indefinite-lived intangible assets—trademarks 826 826
Total intangible assets, net 307,967 331,411
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross 243,596 243,596
Accumulated Amortization (59,853) (47,919)
Net 183,743 195,677
Developer community    
Finite-Lived Intangible Assets [Line Items]    
Gross 154,900 154,900
Accumulated Amortization (63,072) (55,442)
Net 91,828 99,458
Assembled workforce    
Finite-Lived Intangible Assets [Line Items]    
Gross 55,732 55,732
Accumulated Amortization (26,384) (22,945)
Net 29,348 32,787
Patents    
Finite-Lived Intangible Assets [Line Items]    
Gross 8,874 8,874
Accumulated Amortization (6,652) (6,211)
Net $ 2,222 $ 2,663
v3.24.1.1.u2
Intangible Assets and Goodwill - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]      
Amortization expense $ 23,400 $ 15,600  
Goodwill $ 975,906   $ 975,906
v3.24.1.1.u2
Intangible Assets and Goodwill - Schedule of Future Amortization Expense (Details) - USD ($)
$ in Thousands
Apr. 30, 2024
Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2025 $ 71,341  
2026 88,513  
2027 84,360  
2028 51,795  
2029 11,132  
Thereafter 0  
Net $ 307,141 $ 330,585
v3.24.1.1.u2
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Apr. 30, 2024
Jan. 31, 2024
Payables and Accruals [Abstract]    
Accrued compensation $ 166,649 $ 205,056
Accrued third-party cloud infrastructure expenses 71,741 48,571
Liabilities associated with sales, marketing and business development programs 56,855 39,571
Employee contributions under employee stock purchase plan 15,943 40,641
Accrued taxes 11,926 37,108
Employee payroll tax withheld on employee stock transactions 11,728 22,479
Accrued professional services 9,397 9,274
Accrued purchases of property and equipment 9,121 4,508
Other 44,642 39,652
Total accrued expenses and other current liabilities $ 398,002 $ 446,860
v3.24.1.1.u2
Commitments and Contingencies - Narrative (Details) - USD ($)
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
May 31, 2024
Jan. 31, 2024
Other Commitments [Line Items]        
Sublease income $ 2,400,000 $ 3,100,000    
Cost of matching contributions 0 $ 0    
Loss contingency accrual 0     $ 0
Letters of credit outstanding 18,700,000      
Subsequent Event | New Office Facility Lease In The US        
Other Commitments [Line Items]        
Lessee, operating lease, liability, to be paid     $ 96,000,000  
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      
v3.24.1.1.u2
Equity - Narrative (Details) - USD ($)
 3 Months Ended
Feb. 01, 2024
Apr. 30, 2024
Apr. 30, 2023
Jan. 31, 2024
Feb. 28, 2023
Share-based Compensation Arrangement by Share-based Payment Award          
Stock repurchase program, authorized amount         $ 2,000,000,000
Stock repurchase program, remaining authorized repurchase amount   $ 891,900,000      
Repurchases of common stock (in shares)   (500,000)      
Granted (per share)   $ 77.89      
Options granted (shares)   960,000 0    
Intrinsic value of shares exercised   $ 241,800,000 $ 321,700,000    
Grant date fair value of vested shares   7,300,000 16,500,000    
Stock-based compensation, net of amounts capitalized   $ 331,936,000 $ 264,509,000    
Expected dividend yield   0.00% 0.00%    
Unrecognized share-based compensation expense   $ 3,600,000,000      
Unrecognized share-based compensation expense recognition period (term)   3 years      
2020 Equity Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award          
Shares authorized (in shares) 16,700,000        
Employee stock purchase rights under the 2020 ESPP          
Share-based Compensation Arrangement by Share-based Payment Award          
Offering period   6 months      
Shares authorized (in shares) 3,300,000        
Expected dividend yield   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      
Award holding period   1 year      
Discount for lack of marketability   7.60%      
Expected dividend yield   0.00%      
Stock options | 2012 Equity Incentive Plan:          
Share-based Compensation Arrangement by Share-based Payment Award          
Expiration period (years)   10 years      
Equity-Classified Restricted Stock Units (RSUs) | 2020 Equity Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award          
Vesting period (years)   4 years      
Equity-Classified Restricted Stock Units (RSUs) | 2012 Equity Incentive Plan:          
Share-based Compensation Arrangement by Share-based Payment Award          
Vesting period (years)   4 years      
Equity-Classified Restricted Stock Units (RSUs) | 2012 Equity Incentive Plan: | Grant Date          
Share-based Compensation Arrangement by Share-based Payment Award          
Vesting period (years)   1 year      
Equity-Classified Performance Shares | 2020 Equity Incentive Plan          
Share-based Compensation Arrangement by Share-based Payment Award          
Vesting period (years)   4 years      
Stock-based compensation, net of amounts capitalized   $ 12,500,000 $ 3,900,000    
Equity-Classified Performance Shares | 2020 Equity Incentive Plan | Minimum          
Share-based Compensation Arrangement by Share-based Payment Award          
Performance target, percentage   0.00%      
Equity-Classified Performance Shares | 2020 Equity Incentive Plan | Maximum          
Share-based Compensation Arrangement by Share-based Payment Award          
Performance target, percentage   120.00%      
Equity-Classified Performance Shares | 2020 Equity Incentive Plan | Grant Date          
Share-based Compensation Arrangement by Share-based Payment Award          
Vesting period (years)   1 year      
Liability-Classified Performance Shares | 2020 Equity Incentive Plan | Fiscal Year 2024 Acquisition          
Share-based Compensation Arrangement by Share-based Payment Award          
Vesting period (years)   4 years      
Stock-based compensation, net of amounts capitalized   $ 0      
Shares available for grant (in shares)   1,700,000      
Liability-classified instruments, granted and non-vested (in shares)   1,400,000   1,400,000  
Liability-classified instruments, liability, classified, noncurrent   $ 3,200,000   $ 500,000  
Liability-Classified Performance Shares | 2020 Equity Incentive Plan | Grant Date | Fiscal Year 2024 Acquisition          
Share-based Compensation Arrangement by Share-based Payment Award          
Vesting period (years)   1 year      
v3.24.1.1.u2
Equity - Shares Reserved For Future Issuance (Details) - shares
shares in Thousands
Apr. 30, 2024
Jan. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 137,695 121,461
Employee stock purchase rights under the 2020 ESPP    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 16,759 13,764
2012 Equity Incentive Plan: | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 25,296 26,767
2012 Equity Incentive Plan: | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 388 789
2020 Equity Incentive Plan | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 1,562 602
2020 Equity Incentive Plan | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 22,653 20,168
2020 Equity Incentive Plan | Shares available for future grants    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 71,037 59,371
v3.24.1.1.u2
Equity - Schedule of Stock Repurchase Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Share-Based Payment Arrangement [Abstract]    
Number of shares repurchased (in shares) 2,982 1,405
Weighted-average price per share (in dollars per share) $ 173.14 $ 136.39
Aggregate purchase price $ 516,329 $ 191,694
v3.24.1.1.u2
Equity - Option Activity Rollforward (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Jan. 31, 2024
Number of Options Outstanding (in thousands)      
Shares outstanding, beginning (in shares) 27,369,000    
Granted (in shares) (960,000) 0  
Exercised (in shares) (1,379,000)    
Canceled (in shares) (92,000)    
Shares outstanding, ending (in shares) 26,858,000   27,369,000
Weighted- Average Exercise Price      
Shares outstanding, beginning balance (in dollars per share) $ 12.35    
Granted (in dollars per share) 163.04    
Exercised (in dollars per share) 7.69    
Canceled (in shares) 3.75    
Shares outstanding, ending balance (in dollars per share) $ 18.01   $ 12.35
Weighted-average remaining contractual life 4 years 9 months 18 days   5 years
Aggregate Intrinsic Value (in thousands)      
Aggregate intrinsic value $ 3,723,873   $ 5,023,664
Vested and exercisable (in shares) 25,584,000    
Vested and exercisable, weighted average share price (in dollars per share) $ 10.61    
Vested and exercisable, weighted average remaining contractual life 4 years 8 months 12 days    
Vested and exercisable, intrinsic value $ 3,715,804    
v3.24.1.1.u2
Equity - Unvested RSA & RSU Rollforward (Details)
shares in Thousands
 3 Months Ended
Apr. 30, 2024
$ / shares
shares
Equity-Classified Restricted Stock Units (RSUs)  
Number of Shares (in thousands)  
Unvested balance, beginning (in shares) 19,575
Granted (shares) 5,869
Vested (shares) (3,202)
Forfeited (shares) (533)
Performance adjustment (in shares) (50)
Unvested balance, ending (shares) 21,659
Weighted-Average Grant Date Fair Value per Share  
Unvested balance, beginning balance (in dollars per share) | $ / shares $ 169.82
Granted (in dollars per share) | $ / shares 167.74
Vested (in dollars per share) | $ / shares 162.47
Forfeited (in dollars per share) | $ / shares 168.85
Performance adjustment (in dollars per share) | $ / shares 139.58
Unvested balance, ending balance (in dollars per share) | $ / shares $ 170.44
2020 Equity Incentive Plan | Equity-Classified Performance Shares  
Number of Shares (in thousands)  
Granted (shares) 800
2020 Equity Incentive Plan | Equity-Classified Performance Shares | Maximum  
Weighted-Average Grant Date Fair Value per Share  
Performance target, percentage 120.00%
Outside of the Plans | RCS  
Number of Shares (in thousands)  
Unvested balance, beginning (in shares) 671
Vested (shares) (146)
Unvested balance, ending (shares) 525
Weighted-Average Grant Date Fair Value per Share  
Unvested balance, beginning balance (in dollars per share) | $ / shares $ 209.15
Vested (in dollars per share) | $ / shares 223.42
Unvested balance, ending balance (in dollars per share) | $ / shares $ 205.15
v3.24.1.1.u2
Equity - Valuation Assumptions (Details)
 3 Months Ended
Apr. 30, 2024
Jan. 31, 2024
Apr. 30, 2024
Apr. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology        
Expected dividend yield     0.00% 0.00%
Stock options        
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology        
Expected term (in years)     4 years 9 months 18 days  
Expected volatility     56.70%  
Risk-free interest rate     4.20%  
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
Expected volatility     49.60% 71.30%
Risk-free interest rate     5.40% 4.70%
Expected dividend yield     0.00% 0.00%
Liability-Classified Performance Shares | 2020 Equity Incentive Plan        
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology        
Expected volatility 57.00% 60.00%    
Risk-free interest rate 4.90% 4.00%    
v3.24.1.1.u2
Equity - Share-based Compensation (Details) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount    
Stock-based compensation, net of amounts capitalized $ 331,936 $ 264,509
Capitalized stock-based compensation 9,295 11,719
Total stock-based compensation 341,231 276,228
Cost of revenue    
Share-based Payment Arrangement, Expensed and Capitalized, Amount    
Stock-based compensation, net of amounts capitalized 32,408 30,462
Sales and marketing    
Share-based Payment Arrangement, Expensed and Capitalized, Amount    
Stock-based compensation, net of amounts capitalized 73,407 72,295
Research and development    
Share-based Payment Arrangement, Expensed and Capitalized, Amount    
Stock-based compensation, net of amounts capitalized 194,672 136,417
General and administrative    
Share-based Payment Arrangement, Expensed and Capitalized, Amount    
Stock-based compensation, net of amounts capitalized $ 31,449 $ 25,335
v3.24.1.1.u2
Income Taxes - Narrative (Details)
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Income Tax Disclosure [Abstract]    
Effective tax rate (0.90%) 2.80%
v3.24.1.1.u2
Net Loss per Share - Schedule of Basic and Diluted Net Loss per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Numerator:    
Net loss $ (317,816) $ (226,064)
Less: net loss attributable to noncontrolling interest (828) (437)
Net loss attributable to Snowflake Inc. $ (316,988) $ (225,627)
Denominator:    
Net loss per share attributable to Class A common stockholders- basic (in dollars per share) $ (0.95) $ (0.70)
Net loss per share attributable to Class A common stockholders - diluted (in dollars per share) $ (0.95) $ (0.70)
Class A Common Stock    
Denominator:    
Weighted-average shares used in computing net loss per share attributable to Class A common stockholders - basic (in shares) 333,584 324,157
Weighted-average shares used in computing net loss per share attributable to Class A common stockholders - diluted (in shares) 333,584 324,157
Net loss per share attributable to Class A common stockholders- basic (in dollars per share) $ (0.95) $ (0.70)
Net loss per share attributable to Class A common stockholders - diluted (in dollars per share) $ (0.95) $ (0.70)
v3.24.1.1.u2
Net Loss per Share - Schedule of Potentially Dilutive Securities Excluded from Computation of Net Loss per Share (Details) - shares
shares in Thousands
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
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) 50,535 54,350
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) 26,858 33,428
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) 23,041 20,544
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) 525 298
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) 111 80
v3.24.1.1.u2
Net Loss per Share - Narrative (Details) - Class B Common Stock - shares
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Class of Stock [Line Items]    
Weighted-average shares used in computing net loss per share attributable to Class B common stockholders - basic (in shares) 0 0
Weighted-average shares used in computing net loss per share attributable to Class B common stockholders - diluted (in shares) 0 0
v3.24.1.1.u2
Related Party Transactions (Details) - Related Party - USD ($)
 3 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Jan. 31, 2024
Related Party Transaction [Line Items]      
Strategic investment, non-marketable equity securities $ 5,000,000    
Revenue 0 $ 0  
Receivables $ 0   $ 0
v3.24.1.1.u2
Subsequent Event (Details)
$ in Millions
May 31, 2024
USD ($)
Subsequent Event | New Office Facility Lease In The US  
Subsequent Event [Line Items]  
Lessee, operating lease, liability, to be paid $ 96