SNOWFLAKE INC., 10-Q filed on 8/31/2023
Quarterly Report
v3.23.2
Cover - shares
shares in Millions
 6 Months Ended
Jul. 31, 2023
Aug. 18, 2023
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jul. 31, 2023  
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, $0.0001 par value  
Trading Symbol SNOW  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   329.7
Entity Central Index Key 0001640147  
Current Fiscal Year End Date --01-31  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q2  
Amendment Flag false  
v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jul. 31, 2023
Jan. 31, 2023
Current assets:    
Cash and cash equivalents $ 755,192 $ 939,902
Short-term investments 2,996,941 3,067,966
Accounts receivable, net 406,404 715,821
Deferred commissions, current 71,969 67,901
Prepaid expenses and other current assets 174,445 193,100
Total current assets 4,404,951 4,984,690
Long-term investments 1,100,748 1,073,023
Property and equipment, net 193,823 160,823
Operating lease right-of-use assets 262,229 231,266
Goodwill 774,300 657,370
Intangible assets, net 346,101 186,013
Deferred commissions, non-current 146,358 145,286
Other assets 281,306 283,851
Total assets 7,509,816 7,722,322
Current liabilities:    
Accounts payable 41,248 23,672
Accrued expenses and other current liabilities 315,133 269,069
Operating lease liabilities, current 33,846 27,301
Deferred revenue, current 1,523,085 1,673,475
Total current liabilities 1,913,312 1,993,517
Operating lease liabilities, non-current 263,006 224,357
Deferred revenue, non-current 12,477 11,463
Other liabilities 22,794 24,370
Total liabilities 2,211,589 2,253,707
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Preferred stock; $0.0001 par value per share; 200,000 shares authorized, zero shares issued and outstanding as of each July 31, 2023 and January 31, 2023 0 0
Common stock; $0.0001 par value per share; 2,500,000 Class A shares authorized, 329,378 and 323,305 shares issued and outstanding as of July 31, 2023 and January 31, 2023, respectively; 185,461 Class B shares authorized, zero shares issued and outstanding as of each July 31, 2023 and January 31, 2023 33 32
Treasury stock, at cost; 500 and zero shares held as of July 31, 2023 and January 31, 2023, respectively (68,299) 0
Additional paid-in capital 8,679,411 8,210,750
Accumulated other comprehensive loss (32,244) (38,272)
Accumulated deficit (3,291,963) (2,716,074)
Total Snowflake Inc. stockholders’ equity 5,286,938 5,456,436
Noncontrolling interest 11,289 12,179
Total stockholders’ equity 5,298,227 5,468,615
Total liabilities and stockholders’ equity $ 7,509,816 $ 7,722,322
v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares
Jul. 31, 2023
Jan. 31, 2023
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 200,000,000 200,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Treasury stock (in shares) 500,000 0
Class A Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,500,000,000 2,500,000,000
Common stock, shares issued (in shares) 329,378,000 323,305,000
Common stock, shares outstanding (in shares) 329,378,000 323,305,000
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
v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Income Statement [Abstract]        
Revenue $ 674,018 $ 497,248 $ 1,297,617 $ 919,619
Cost of revenue 218,392 173,232 427,806 321,162
Gross profit 455,626 324,016 869,811 598,457
Operating expenses:        
Sales and marketing 343,288 274,645 674,846 518,557
Research and development 313,996 183,748 591,408 334,546
General and administrative 83,749 73,355 162,202 141,852
Total operating expenses 741,033 531,748 1,428,456 994,955
Operating loss (285,407) (207,732) (558,645) (396,498)
Interest income 50,280 11,692 93,411 16,451
Other income (expense), net 4,086 (22,920) 1,524 (31,401)
Loss before income taxes (231,041) (218,960) (463,710) (411,448)
Provision for (benefit from) income taxes (3,721) 3,846 (10,326) (22,848)
Net loss (227,320) (222,806) (453,384) (388,600)
Less: net loss attributable to noncontrolling interest (453) 0 (890) 0
Net loss attributable to Snowflake Inc. $ (226,867) $ (222,806) $ (452,494) $ (388,600)
Net loss per share attributable to Class A common stockholders- basic (in dollars per share) $ (0.69) $ (0.70) $ (1.39) $ (1.23)
Net loss per share attributable to Class A common stockholders - diluted (in dollars per share) $ (0.69) $ (0.70) $ (1.39) $ (1.23)
Weighted-average shares used in computing net loss per share attributable to Class A common stockholders - basic (in shares) 327,335 318,356 325,772 316,392
Weighted-average shares used in computing net loss per share attributable to Class A common stockholders - diluted (in shares) 327,335 318,356 325,772 316,392
v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Statement of Comprehensive Income [Abstract]        
Net loss $ (227,320) $ (222,806) $ (453,384) $ (388,600)
Other comprehensive income (loss):        
Foreign currency translation adjustments 0 (1,074) 0 (3,050)
Net change in unrealized gains (losses) on available-for-sale debt securities (1,575) (196) 5,869 (28,521)
Other 159 0 159 0
Total other comprehensive income (loss) (1,416) (1,270) 6,028 (31,571)
Comprehensive loss attributable to Snowflake Inc. $ (228,736) $ (224,076) $ (447,356) $ (420,171)
v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Total Snowflake Inc. Stockholders’ Equity
Common Stock
Treasury Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
Noncontrolling Interest
Beginning balance (in shares) at Jan. 31, 2022     312,377,000          
Beginning balance at Jan. 31, 2022 $ 5,049,045 $ 5,049,045 $ 31 $ 0 $ 6,984,669 $ (16,286) $ (1,919,369) $ 0
Beginning balance, treasury stock (in shares) at Jan. 31, 2022       0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of common stock upon exercise of stock options (in shares)     3,942,000          
Issuance of common stock upon exercise of stock options 23,567 23,567 $ 1   23,566      
Issuance of common stock under employee stock purchase plan (in shares)     184,000          
Issuance of common stock under employee stock purchase plan 26,094 26,094     26,094      
Issuance of common stock in connection with a business combination (in shares)     1,914,000          
Issuance of common stock in connection with a business combination 438,916 438,916     438,916      
Issuance of common stock in connection with a business combination subject to future vesting (in shares)     409,000          
Vesting of early exercised stock options 122 122     122      
Vesting of restricted stock units (in shares)     1,623,000          
Shares withheld related to net share settlement of equity awards (in shares)     (552,000)          
Shares withheld related to net share settlement of equity awards (86,134) (86,134)     (86,134)      
Stock-based compensation 394,884 394,884     394,884      
Other comprehensive income (loss) (31,571) (31,571)       (31,571)    
Net loss (388,600) (388,600)         (388,600)  
Ending balance (in shares) at Jul. 31, 2022     319,897,000          
Ending balance at Jul. 31, 2022 5,426,323 5,426,323 $ 32 $ 0 7,782,117 (47,857) (2,307,969) 0
Ending balance, treasury stock (in shares) at Jul. 31, 2022       0        
Beginning balance (in shares) at Apr. 30, 2022     317,814,000          
Beginning balance at Apr. 30, 2022 5,457,994 5,457,994 $ 32 $ 0 7,589,712 (46,587) (2,085,163) 0
Beginning balance, treasury stock (in shares) at Apr. 30, 2022       0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of common stock upon exercise of stock options (in shares)     1,494,000          
Issuance of common stock upon exercise of stock options 8,437 8,437     8,437      
Issuance of common stock in connection with a business combination (in shares)     74,000          
Vesting of early exercised stock options 61 61     61      
Vesting of restricted stock units (in shares)     775,000          
Shares withheld related to net share settlement of equity awards (in shares)     (260,000)          
Shares withheld related to net share settlement of equity awards (31,989) (31,989)     (31,989)      
Stock-based compensation 215,896 215,896     215,896      
Other comprehensive income (loss) (1,270) (1,270)       (1,270)    
Net loss (222,806) (222,806)         (222,806)  
Ending balance (in shares) at Jul. 31, 2022     319,897,000          
Ending balance at Jul. 31, 2022 5,426,323 5,426,323 $ 32 $ 0 7,782,117 (47,857) (2,307,969) 0
Ending balance, treasury stock (in shares) at Jul. 31, 2022       0        
Beginning balance (in shares) at Jan. 31, 2023     323,305,000          
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     0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of common stock upon exercise of stock options (in shares) 2,376,000              
Ending balance (in shares) at Apr. 30, 2023     326,312,000          
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       (500,000)        
Beginning balance (in shares) at Jan. 31, 2023     323,305,000          
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     0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of common stock upon exercise of stock options (in shares)     4,856,000          
Issuance of common stock upon exercise of stock options $ 31,527 31,527 $ 1   31,526      
Issuance of common stock under employee stock purchase plan (in shares)     312,000          
Issuance of common stock under employee stock purchase plan 37,065 37,065     37,065      
Vesting of early exercised stock options 122 122     122      
Vesting of restricted stock units (in shares)     3,499,000          
Shares withheld related to net share settlement of equity awards (in shares)     (1,189,000)          
Shares withheld related to net share settlement of equity awards $ (188,905) (188,905)     (188,905)      
Repurchases of common stock (in shares) (500,000)     (500,000)        
Repurchases of common stock as treasury stock $ (68,299) (68,299)   $ (68,299)        
Repurchases and retirement of common stock (in shares)     (905,000)          
Repurchases and retirement of common stock (123,395) (123,395)         (123,395)  
Stock-based compensation 588,853 588,853     588,853      
Other comprehensive income (loss) 6,028 6,028       6,028    
Net loss (453,384) (452,494)         (452,494) (890)
Ending balance (in shares) at Jul. 31, 2023     329,878,000          
Ending balance at Jul. 31, 2023 $ 5,298,227 5,286,938 $ 33 $ (68,299) 8,679,411 (32,244) (3,291,963) 11,289
Ending balance, treasury stock (in shares) at Jul. 31, 2023 (500,000)     (500,000)        
Beginning balance (in shares) at Apr. 30, 2023     326,312,000          
Beginning balance at Apr. 30, 2023 $ 5,297,985 5,286,243 $ 33 $ (68,299) 8,450,433 (30,828) (3,065,096) 11,742
Beginning balance, treasury stock (in shares) at Apr. 30, 2023       (500,000)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Issuance of common stock upon exercise of stock options (in shares) 2,480,000   2,480,000          
Issuance of common stock upon exercise of stock options $ 16,194 16,194     16,194      
Vesting of early exercised stock options 61 61     61      
Vesting of restricted stock units (in shares)     1,637,000          
Shares withheld related to net share settlement of equity awards (in shares)     (551,000)          
Shares withheld related to net share settlement of equity awards (99,902) (99,902)     (99,902)      
Stock-based compensation 312,625 312,625     312,625      
Other comprehensive income (loss) (1,416) (1,416)       (1,416)    
Net loss (227,320) (226,867)         (226,867) (453)
Ending balance (in shares) at Jul. 31, 2023     329,878,000          
Ending balance at Jul. 31, 2023 $ 5,298,227 $ 5,286,938 $ 33 $ (68,299) $ 8,679,411 $ (32,244) $ (3,291,963) $ 11,289
Ending balance, treasury stock (in shares) at Jul. 31, 2023 (500,000)     (500,000)        
v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Cash flows from operating activities:    
Net loss $ (453,384) $ (388,600)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 52,447 26,113
Non-cash operating lease costs 25,653 21,239
Amortization of deferred commissions 35,853 26,971
Stock-based compensation, net of amounts capitalized 564,231 381,674
Net amortization (accretion) of premiums (discounts) on investments (32,992) 12,876
Net unrealized losses (gains) on strategic investments in equity securities (2,895) 32,032
Deferred income tax (12,894) (26,664)
Other 11,812 2,074
Changes in operating assets and liabilities, net of effects of business combinations:    
Accounts receivable 309,843 239,569
Deferred commissions (40,992) (39,906)
Prepaid expenses and other assets 46,916 (28,177)
Accounts payable 17,469 6,225
Accrued expenses and other liabilities 27,106 10,455
Operating lease liabilities (16,023) (18,186)
Deferred revenue (149,515) (8,649)
Net cash provided by operating activities 382,635 249,046
Cash flows from investing activities:    
Purchases of property and equipment (13,268) (11,261)
Capitalized internal-use software development costs (17,215) (11,540)
Cash paid for business combinations, net of cash, cash equivalents, and restricted cash acquired (264,571) (177,925)
Purchases of intangible assets (27,480) (700)
Purchases of investments (1,725,964) (1,925,257)
Sales of investments 7,266 43,932
Maturities and redemptions of investments 1,780,061 1,696,512
Net cash used in investing activities (261,171) (386,239)
Cash flows from financing activities:    
Proceeds from exercise of stock options 31,519 23,796
Proceeds from issuance of common stock under employee stock purchase plan 37,065 26,094
Taxes paid related to net share settlement of equity awards (182,710) (84,109)
Repurchases of common stock (191,694) 0
Net cash used in financing activities (305,820) (34,219)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 1,005 (7,388)
Net decrease in cash, cash equivalents, and restricted cash (183,351) (178,800)
Cash, cash equivalents, and restricted cash—beginning of period 956,731 1,102,534
Cash, cash equivalents, and restricted cash—end of period 773,380 923,734
Supplemental disclosures of non-cash investing and financing activities:    
Property and equipment included in accounts payable and accrued expenses 6,474 5,661
Stock-based compensation included in capitalized software development costs 24,622 12,780
Issuance of common stock in connection with a business combination 0 438,916
Unpaid taxes related to net share settlement of equity awards included in accrued expenses and other current liabilities 6,249 2,025
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 755,192 906,663
Restricted cash—included in other assets and prepaid expenses and other current assets 18,188 17,071
Total cash, cash equivalents, and restricted cash $ 773,380 $ 923,734
v3.23.2
Organization and Description of Business
 6 Months Ended
Jul. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Description of Business Organization and Description of BusinessSnowflake Inc. (Snowflake or the Company) provides a cloud-based data platform, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data applications, and share data and data products. The Company provides its platform through a customer-centric, consumption-based business model, only charging customers for the resources they use. Through its platform, the Company delivers the Data Cloud, a network where Snowflake customers, partners, developers, data providers, and data consumers can break down data silos and derive value from rapidly growing data sets in secure, governed, and compliant ways. Snowflake was incorporated in the state of Delaware on July 23, 2012.
v3.23.2
Basis of Presentation and Summary of Significant Accounting Policies
 6 Months Ended
Jul. 31, 2023
Accounting Policies [Abstract]  
Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies
Fiscal Year

The Company’s fiscal year ends on January 31. For example, references to fiscal 2024 refer to the fiscal year ending January 31, 2024.

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, 2023, which was filed with the SEC on March 29, 2023.

In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position as of July 31, 2023 and the results of operations for the three and six months ended July 31, 2023 and 2022, and cash flows for the six months ended July 31, 2023 and 2022. The condensed balance sheet as of January 31, 2023 was derived from the audited consolidated financial statements but does not include all disclosures required by GAAP. The results of operations for the three and six months ended July 31, 2023 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):
July 31, 2023January 31, 2023
United States$348,571 $329,275 
Other(1)
107,481 62,814 
Total$456,052 $392,089 
________________
(1)No individual country outside of the United States accounted for more than 10% of the Company’s long-lived assets as of July 31, 2023 and January 31, 2023.

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, 2023, which was filed with the SEC on March 29, 2023.
v3.23.2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
 6 Months Ended
Jul. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
Disaggregation of Revenue

Revenue consists of the following (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2023202220232022
Product revenue$640,209 $466,268 $1,230,281 $860,702 
Professional services and other revenue33,809 30,980 67,336 58,917 
Total$674,018 $497,248 $1,297,617 $919,619 
Revenue by geographic area, based on the location of the Company’s customers (or end-customers under reseller arrangements), was as follows (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2023202220232022
Americas:
United States$516,367 $394,284 $999,356 $730,209 
Other Americas(1)
17,842 10,553 34,698 19,679 
EMEA(1)(2)
106,284 69,666 201,174 127,684 
Asia-Pacific and Japan(1)
33,525 22,745 62,389 42,047 
Total$674,018 $497,248 $1,297,617 $919,619 
________________
(1)No individual country in these areas represented more than 10% of the Company’s revenue for all periods presented.
(2)Includes Europe, the Middle East, and Africa.

Accounts Receivable, Net

As of July 31, 2023 and January 31, 2023, allowance for credit losses of $1.4 million and $2.2 million, respectively, was included in the Company’s accounts receivable, net balance.

Significant Customers

For purposes of assessing the concentration of credit risk and significant customers, a group of customers under common control or customers that are affiliates of each other are regarded as a single customer. As of July 31, 2023 and January 31, 2023, there were no customers that represented 10% or more of the Company’s accounts receivable, net balance. Additionally, there were no customers that represented 10% or more of the Company’s revenue for each of the three and six months ended July 31, 2023 and 2022.

Deferred Revenue

The Company recognized $524.0 million and $380.4 million of revenue for the three months ended July 31, 2023 and 2022, respectively, from the deferred revenue balances as of April 30, 2023 and 2022, respectively.

The Company recognized $896.4 million and $622.9 million of revenue for the six months ended July 31, 2023 and 2022, respectively, from the deferred revenue balances as of January 31, 2023 and 2022, respectively.

Remaining Performance Obligations

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

As of July 31, 2023, the Company’s RPO was $3.5 billion, of which the Company expects approximately 57% to be recognized as revenue in the twelve months ending July 31, 2024 based on historical customer consumption patterns. However, the amount and timing of revenue recognition are generally dependent upon customers’ future consumption, which is inherently variable at customers’ discretion and can extend beyond the original contract term in cases where customers are permitted to roll over unused capacity to future periods, generally on the purchase of additional capacity at renewal.
v3.23.2
Cash Equivalents and Investments
 6 Months Ended
Jul. 31, 2023
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):

July 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$409,604 $— $— $409,604 
Corporate notes and bonds22,228 — — 22,228 
U.S. government securities15,993 — (1)15,992 
Commercial paper10,904 — (3)10,901 
Total cash equivalents458,729 — (4)458,725 
Investments:
Corporate notes and bonds1,760,591 620 (15,566)1,745,645 
U.S. government and agency securities1,259,084 23 (13,868)1,245,239 
Commercial paper793,135 6 (1,076)792,065 
Certificates of deposit315,001 53 (314)314,740 
Total investments4,127,811 702 (30,824)4,097,689 
Total cash equivalents and investments$4,586,540 $702 $(30,828)$4,556,414 

January 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds(1)
$520,138 $— $— $520,138 
Commercial paper9,305 — (1)9,304 
Corporate notes and bonds6,902 1 — 6,903 
Certificates of deposit3,045 — (1)3,044 
Total cash equivalents(1)
539,390 1 (2)539,389 
Investments:
Corporate notes and bonds2,124,454 2,096 (23,470)2,103,080 
Commercial paper883,023 272 (1,947)881,348 
U.S. government and agency securities715,949 107 (12,220)703,836 
Certificates of deposit453,557 278 (1,110)452,725 
Total investments4,176,983 2,753 (38,747)4,140,989 
Total cash equivalents and investments(1)
$4,716,373 $2,754 $(38,749)$4,680,378 
________________
(1)Includes a reclassification of $141.0 million from cash to cash equivalents for the money market funds balance as of January 31, 2023, as presented in the Annual Report on Form 10-K filed with the SEC on March 29, 2023. Such reclassification did not impact the Company’s consolidated balance sheet as of January 31, 2023 or its consolidated statement of cash flows for the fiscal year ended January 31, 2023.

The Company included $26.3 million and $19.4 million of interest receivable in prepaid expenses and other current assets on the condensed consolidated balance sheets as of July 31, 2023 and January 31, 2023, respectively. The Company did not recognize an allowance for credit losses against interest receivable as of July 31, 2023 and January 31, 2023 because such potential losses were not material.
As of July 31, 2023, the contractual maturities of the Company’s available-for-sale marketable debt securities did not exceed 36 months. The estimated fair values of available-for-sale marketable debt securities, by remaining contractual maturity, are as follows (in thousands):

July 31, 2023
Estimated
Fair Value
Due within 1 year$3,046,062 
Due in 1 year to 3 years1,100,748 
Total$4,146,810 

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):

July 31, 2023
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
Commercial paper$10,901 $(3)$— $— $10,901 $(3)
U.S. government securities5,992 (1)— — 5,992 (1)
Total cash equivalents16,893 (4)— — 16,893 (4)
Investments:
Corporate notes and bonds979,478 (6,794)564,056 (8,772)1,543,534 (15,566)
U.S. government and agency securities894,573 (6,556)253,934 (7,312)1,148,507 (13,868)
Commercial paper756,598 (1,076)— — 756,598 (1,076)
Certificates of deposit215,833 (314)— — 215,833 (314)
Total investments2,846,482 (14,740)817,990 (16,084)3,664,472 (30,824)
Total cash equivalents and investments$2,863,375 $(14,744)$817,990 $(16,084)$3,681,365 $(30,828)
January 31, 2023
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
Commercial paper$9,304 $(1)$— $— $9,304 $(1)
Certificates of deposit3,044 (1)— — 3,044 (1)
Total cash equivalents12,348 (2)— — 12,348 (2)
Investments:
Corporate notes and bonds899,655 (8,521)736,431 (14,949)1,636,086 (23,470)
U.S. government and agency securities387,207 (3,157)232,771 (9,063)619,978 (12,220)
Commercial paper561,793 (1,947)— — 561,793 (1,947)
Certificates of deposit256,428 (1,110)— — 256,428 (1,110)
Total investments2,105,083 (14,735)969,202 (24,012)3,074,285 (38,747)
Total cash equivalents and investments$2,117,431 $(14,737)$969,202 $(24,012)$3,086,633 $(38,749)

For available-for-sale marketable debt securities with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis. The decline in fair value of these securities due to credit related factors was not material as of July 31, 2023 and January 31, 2023.

See Note 5, “Fair Value Measurements,” for information regarding the Company’s strategic investments.
v3.23.2
Fair Value Measurements
 6 Months Ended
Jul. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

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

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

Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.
The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of July 31, 2023 (in thousands):

Level 1
Level 2
Total
Cash equivalents:
Money market funds$409,604 $— $409,604 
Corporate notes and bonds— 22,228 22,228 
U.S. government securities— 15,992 15,992 
Commercial paper— 10,901 10,901 
Short-term investments:
Corporate notes and bonds— 1,070,871 1,070,871 
U.S. government and agency securities— 828,213 828,213 
Commercial paper— 792,065 792,065 
Certificates of deposit— 305,792 305,792 
Long-term investments:
Corporate notes and bonds— 674,774 674,774 
U.S. government and agency securities— 417,026 417,026 
Certificates of deposit— 8,948 8,948 
Total
$409,604 $4,146,810 $4,556,414 

The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of January 31, 2023 (in thousands):

Level 1
Level 2
Total
Cash equivalents:
Money market funds(1)
$520,138 $— $520,138 
Commercial paper— 9,304 9,304 
Corporate notes and bonds— 6,903 6,903 
Certificates of deposit— 3,044 3,044 
Short-term investments:
Corporate notes and bonds— 1,301,296 1,301,296 
Commercial paper— 881,348 881,348 
Certificates of deposit— 445,194 445,194 
U.S. government and agency securities— 440,128 440,128 
Long-term investments:
Corporate notes and bonds— 801,784 801,784 
U.S. government and agency securities— 263,708 263,708 
Certificates of deposit— 7,531 7,531 
Total(1)
$520,138 $4,160,240 $4,680,378 
________________
(1)Includes a reclassification of $141.0 million from cash to cash equivalents for the money market funds balance as of January 31, 2023, as presented in the Annual Report on Form 10-K filed with the SEC on March 29, 2023. Such reclassification did not impact the Company’s consolidated balance sheet as of January 31, 2023 or its consolidated statement of cash flows for the fiscal year ended January 31, 2023.

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

The tables above do not include the Company’s strategic investments, which consist primarily of (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):

July 31, 2023January 31, 2023
Equity securities:
Non-marketable equity securities under Measurement Alternative$192,046 $174,248 
Non-marketable equity securities under equity method5,165 5,066 
Marketable equity securities27,119 22,122 
Debt securities:
Non-marketable debt securities1,500 1,500 
Total strategic investments—included in other assets$225,830 $202,936 

The following table summarizes the unrealized gains and losses included in the carrying value of the Company’s strategic investments in equity securities held as of July 31, 2023 (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2023202220232022
Non-marketable equity securities under Measurement Alternative:
Impairments$(2,101)$(26,555)$(2,101)$(26,555)
Marketable equity securities:
Net unrealized gains (losses)7,410 3,382 4,996 (5,477)
Total—included in other income (expense), net$5,309 $(23,173)$2,895 $(32,032)

The cumulative upward adjustments and the cumulative impairments to the carrying value of the non-marketable equity securities accounted for using the Measurement Alternative held by the Company as of July 31, 2023 were $37.1 million and $40.1 million, respectively.

No realized gains or losses were recognized on the Company’s strategic investments in equity securities during any of periods presented.
v3.23.2
Property and Equipment, Net
 6 Months Ended
Jul. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

July 31, 2023January 31, 2023
Leasehold improvements$67,590 $59,872 
Computers, equipment, and software22,869 20,050 
Furniture and fixtures16,429 14,800 
Capitalized internal-use software development costs63,238 44,059 
Construction in progress—capitalized internal-use software development costs77,138 61,575 
Construction in progress—other9,253 7,313 
Total property and equipment, gross256,517 207,669 
Less: accumulated depreciation and amortization(1)
(62,694)(46,846)
Total property and equipment, net$193,823 $160,823 
________________
(1)Includes $27.2 million and $19.9 million of accumulated amortization related to capitalized internal-use software development costs as of July 31, 2023 and January 31, 2023, respectively.

Depreciation and amortization expense was $8.5 million and $16.1 million for the three and six months ended July 31, 2023, respectively. Included in these amounts were the amortization of capitalized internal-use software development costs of $3.9 million and $7.4 million for the three and six months ended July 31, 2023, respectively.

Depreciation and amortization expense was $5.9 million and $10.5 million for the three and six months ended July 31, 2022, respectively. Included in these amounts were the amortization of capitalized internal-use software development costs of $2.4 million and $3.9 million for the three and six months ended July 31, 2022, respectively.

During the six months ended July 31, 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. Impairment charges related to capitalized internal-use software development costs recognized during the three and six months ended July 31, 2022 were not material.
v3.23.2
Business Combinations
 6 Months Ended
Jul. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Business Combinations Business Combinations
Fiscal 2024

Neeva Inc.

During the three months ended July 31, 2023, the Company acquired all outstanding stock of Neeva Inc. and its equity investee (collectively, Neeva), for total preliminary consideration of $185.4 million in cash. The Company acquired Neeva primarily for its talent and developed technology. The Company has accounted for this transaction as a business combination.

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

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents$43,968 
Goodwill63,049 
Developed technology intangible assets83,000 5
Other net tangible liabilities(789)
Deferred tax liabilities, net(1)
(3,801)
Total$185,427 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.

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

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

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 provides a premier suite of tools for efficiently migrating databases to the Data Cloud, for preliminary consideration of $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 following table summarizes the preliminary allocation of purchase consideration to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents$11,594 
Goodwill45,450 
Developed technology intangible asset33,000 
5
Other net tangible liabilities(6,669)
Deferred tax liabilities, net(1)
(7,114)
Total$76,261 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.

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

The excess of purchase consideration over the preliminary fair value of identifiable net assets acquired was recorded as goodwill, which is not deductible for income tax purposes. The Company believes the goodwill balance associated with this business combination represents the synergies expected from strengthening enablement capabilities and the acceleration of legacy migrations to the Data Cloud, as well as expanding the Company’s professional services footprint.

LeapYear Technologies, Inc.

On February 10, 2023, the Company acquired all outstanding stock of LeapYear Technologies, Inc. (LeapYear), a privately-held company which provides a differential privacy platform, for preliminary consideration of $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 following table summarizes the preliminary allocation of purchase consideration to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash, cash equivalents, and restricted cash$3,563 
Goodwill8,431 
Developed technology intangible asset53,000 
5
Other net tangible liabilities(1,434)
Deferred tax liabilities, net(1)
(1,552)
Total$62,008 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.

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

The excess of purchase consideration over the preliminary fair value of identifiable net assets acquired was recorded as goodwill, which is not deductible for income tax purposes. The Company believes the goodwill balance associated with this business combination represents the synergies expected from expanded market opportunities when integrating the acquired developed technologies with the Company’s offerings.
Acquisition-related costs, recorded as general and administrative expense, associated with each of the Neeva, Mountain, and LeapYear business combinations were not material during the six months ended July 31, 2023.

From the respective dates of acquisition through July 31, 2023, revenue attributable to Neeva, Mountain, and LeapYear, included in the Company’s condensed consolidated statements of operations for the six months ended July 31, 2023, was not material. It was impracticable to determine the effect on the Company's net loss attributable to Neeva, Mountain, and LeapYear as these operations have been integrated into the Company's ongoing operations since the respective dates of acquisition.

Unaudited Pro Forma Financial Information

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

Pro Forma
Three Months Ended July 31,Six Months Ended July 31,
2023202220232022
(unaudited)
Revenue$674,156 $497,261 $1,297,863 $919,640 
Net loss$(244,992)$(254,014)$(499,999)$(437,835)

The pro forma financial information presented above has been calculated after adjusting the results of operations of Neeva to reflect certain business combination effects, including the amortization of the acquired intangible asset, stock-based compensation, income tax impact, and acquisition-related costs incurred by both the Company and Neeva as though this business combination occurred as of February 1, 2022, the beginning of the Company’s fiscal 2023. The historical condensed consolidated financial information has been adjusted in the pro forma combined financial results to give effect to pro forma events that are directly attributable to the business combination, reasonably estimable, and factually supportable. The pro forma financial information is for informational purposes only and is not indicative of the results of operations that would have been achieved if this business combination had taken place as of February 1, 2022.

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.

Fiscal 2023

Streamlit, Inc.

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

Estimated Fair Value
Cash$211,839 
Common stock(1)
438,916 
Total
$650,755 
________________
(1)Approximately 1.9 million shares of the Company’s Class A common stock were included in the purchase consideration and the fair values of these shares were determined based on the closing market price of $229.13 per share on the acquisition date.
In addition, in connection with this business combination, the Company issued to Streamlit’s three founders a total of 0.4 million shares of the Company’s Class A common stock in exchange for a portion of their Streamlit stock. These shares are subject to vesting agreements pursuant to which the shares will vest over three years, subject to each founder’s continued employment with the Company or its affiliates. The $93.7 million fair value of these shares are accounted for as post-combination stock-based compensation over the requisite service period of three years. See Note 11, “Equity,” for further discussion.

The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective estimated fair values. The allocation of purchase consideration, inclusive of measurement period adjustments, was as follows:

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

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

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

Acquisition-related costs of $1.9 million associated with this business combination were recorded as general and administrative expenses during the six months ended July 31, 2022.

Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information summarizes the combined results of operations of the Company and Streamlit, as if Streamlit had been acquired as of February 1, 2021 (in thousands):
Pro Forma
Three Months Ended July 31,Six Months Ended July 31,
2022202120222021
(unaudited)
Revenue$497,248 $272,198 $919,641 $501,112 
Net loss$(222,806)$(219,905)$(436,965)$(431,494)

The pro forma financial information presented above has been calculated after adjusting the results of operations of Streamlit to reflect certain business combination effects, including the amortization of the acquired intangible asset, stock-based compensation, income tax impact, and acquisition-related costs incurred by both the Company and Streamlit as though this business combination occurred as of February 1, 2021, the beginning of the Company’s fiscal 2022. The historical condensed consolidated financial information has been adjusted in the pro forma combined financial results to give effect to pro forma events that are directly attributable to the business combination, reasonably estimable, and factually supportable. The pro forma financial information is for informational purposes only and is not indicative of the results of operations that would have been achieved if this business combination had taken place as of February 1, 2021.
v3.23.2
Intangible Assets and Goodwill
 6 Months Ended
Jul. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
Intangible Assets, Net

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

July 31, 2023
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$217,332 $(25,372)$191,960 
Developer community150,000 (40,067)109,933 
Assembled workforce55,732 (15,915)39,817 
Patents8,874 (5,309)3,565 
Other47 (47)— 
Total finite-lived intangible assets$431,985 $(86,710)$345,275 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$346,101 

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

During the six months ended July 31, 2023, in addition to the developed technology intangible assets acquired in connection with business combinations as discussed in Note 7, “Business Combinations,” the Company also acquired $27.5 million of assembled workforce intangible assets with a useful life of four years.

Amortization expense of intangible assets was $20.8 million and $36.4 million for the three and six months ended July 31, 2023, respectively, and $10.3 million and $15.6 million for the three and six months ended July 31, 2022, respectively.

As of July 31, 2023, future amortization expense is expected to be as follows (in thousands):

Amount
Fiscal Year Ending January 31,
Remainder of 2024$44,935 
202588,529 
202682,287 
202778,134 
202845,569 
Thereafter5,821 
Total$345,275 
Goodwill

Changes in goodwill were as follows (in thousands):

Amount
Balance—January 31, 2023
$657,370 
Additions116,930 
Balance—July 31, 2023
$774,300 
v3.23.2
Accrued Expenses and Other Current Liabilities
 6 Months Ended
Jul. 31, 2023
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):

July 31, 2023January 31, 2023
Accrued compensation$141,409 $123,173 
Accrued third-party cloud infrastructure expenses36,463 26,535 
Liabilities associated with sales, marketing and business development programs34,775 23,444 
Employee contributions under employee stock purchase plan25,053 36,648 
Accrued taxes16,447 20,003 
Accrued professional services10,531 11,776 
Accrued purchases of property and equipment4,378 3,876 
Other46,077 23,614 
Total accrued expenses and other current liabilities$315,133 $269,069 
v3.23.2
Commitment and Contingencies
 6 Months Ended
Jul. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Operating Leases—The Company leases its facilities for office space under non-cancelable operating leases with various expiration dates through fiscal 2035. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments.

In March 2023, the Company entered into an agreement related to a new office facility located outside of the United States for a total commitment of $35.7 million based on the exchange rate as of July 31, 2023. The lease commenced during the three months ended July 31, 2023, with an expiration date in fiscal 2032, and resulted in an increase in the Company’s operating lease right-of-use assets and operating lease liabilities in the amount of approximately $31 million.

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 $3.1 million and $6.2 million for the three and six months ended July 31, 2023, respectively, and $3.3 million and $6.6 million for the three and six months ended July 31, 2022, respectively.
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.

In June 2023, the Company amended one of its third-party cloud infrastructure agreements. Under the amended agreement, the Company has committed to spend at least $1.0 billion between June 2023 and May 2028 on cloud infrastructure services with no minimum purchase commitment during any year. The Company is required to pay the difference if it fails to meet the minimum purchase commitment as of May 2028, and such payment can be applied to qualifying spending on cloud infrastructure services for up to twelve months after May 2028. Prior to such amendment, the remaining non-cancelable commitments under the agreement was $416.4 million as of January 31, 2023.

401(k) Plan—The Company sponsors a 401(k) defined contribution plan covering all eligible U.S. employees. Contributions to the 401(k) plan are discretionary. The Company did not make any matching contributions to the 401(k) plan for each of the three and six months ended July 31, 2023 and 2022.

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

Letters of Credit—As of July 31, 2023, the Company had a total of $17.9 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 other employees. The Company has agreed to indemnify and defend the indemnified party for claims and related losses suffered or incurred by the indemnified party from actual or threatened third-party claims due to the Company’s activities or non-compliance with certain representations and warranties made by the Company. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. For each of the three and six months ended July 31, 2023 and 2022, losses recorded in the condensed consolidated statements of operations in connection with the indemnification provisions were not material.
v3.23.2
Equity
 6 Months Ended
Jul. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Equity Equity
Common Stock—The Company had reserved shares of common stock for future issuance as follows (in thousands):

July 31, 2023January 31, 2023
2012 Equity Incentive Plan:
Options outstanding30,279 35,212 
Restricted stock units outstanding1,610 2,521 
2020 Equity Incentive Plan:
Options outstanding614 642 
Restricted stock units outstanding18,887 13,039 
Shares available for future grants62,012 52,989 
2020 Employee Stock Purchase Plan:
Shares available for future grants13,967 11,046 
Total shares of common stock reserved for future issuance127,369 115,449 

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 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):

Six Months Ended July 31, 2023
Number of shares repurchased1,405 
Weighted-average price per share(1)
$136.39 
Aggregate purchase price(1)
$191,694 
________________
(1)Includes transaction costs associated with the repurchases.

There were no shares repurchased under the Company’s authorized stock repurchase program during the three months ended July 31, 2023.

As of July 31, 2023, $1.8 billion remained available for future stock repurchases under the stock repurchase program. The first 0.5 million shares repurchased during the six months ended July 31, 2023 were recorded in treasury stock as a reduction to the stockholders’ equity on the condensed consolidated balance sheets. All subsequent repurchases of common stock were retired. Upon retirement, the par value of the common stock repurchased was deducted from common stock and any excess of repurchase price (including associated transaction costs) over par value was recorded entirely to retained earnings (accumulated deficit) on the 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, 2023, the shares available for grant under the 2020 Plan and the 2020 ESPP were automatically increased by 16.2 million shares and 3.2 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 and activity regarding shares available for grant under the Plans during the six months ended July 31, 2023 is as follows:

Shares
Available for Grant
(in thousands)		Number of Options Outstanding
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic
Value
(in thousands)
Balance—January 31, 2023
52,989 35,854 $11.27 5.9$5,237,549 
Shares authorized16,165 — 
Options exercised— (2,376)$6.45 
Options canceled50 (50)$5.38 
RSUs granted(7,318)— 
Shares withheld related to net share settlement of RSUs638 — 
RSUs forfeited472 — 
Balance—April 30, 2023
62,996 33,428 $11.63 5.7$4,599,537 
Options exercised— (2,480)$6.53 
Options canceled55 (55)$110.24 
RSUs granted(2,048)— 
Shares withheld related to net share settlement of RSUs551 — 
RSUs forfeited458 — 
Balance—July 31, 2023
62,012 30,893 $11.86 5.5$5,141,902 
Vested and exercisable as of July 31, 2023
29,248 $9.19 5.4$4,935,165 

No options were granted during the six months ended July 31, 2023. The weighted-average grant-date fair value of options granted during the six months ended July 31, 2022 was $101.66 per share. The intrinsic value of options exercised in the six months ended July 31, 2023 and 2022 was $736.7 million and $704.6 million, respectively. The aggregate grant-date fair value of options that vested during the six months ended July 31, 2023 and 2022 was $28.3 million and $41.3 million, respectively.
RSUs—RSUs granted under the 2012 Plan 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. RSUs granted under the 2020 Plan generally only contain the service-based vesting condition as described above, and the related stock-based compensation for such RSUs is recognized on a straight-line basis over the requisite service period.

During the six months ended July 31, 2023, the Company granted, under the 2020 Plan, RSUs that have both service-based and performance-based vesting conditions (PRSUs) to its executive officers and certain other members of its senior leadership team. The service-based vesting condition for these PRSUs is satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. The performance-based vesting condition is satisfied upon the achievement of certain Company annual performance targets set by the compensation committee of the board of directors of the Company. The ultimate number of PRSUs earned and eligible to vest ranges between 0% to 120% of the target number of PRSUs granted based on the weighted-average achievement of such Company annual performance metrics for the fiscal year ending January 31, 2024. Stock-based compensation associated with these PRSUs is recognized using an accelerated attribution method over the requisite service period, based on the probability of the performance condition being satisfied, which is assessed periodically by the Company. For the three and six months ended July 31, 2023, the Company recognized stock-based compensation of $6.3 million and $10.1 million associated with these PRSUs, respectively.

A summary of RSU activity, inclusive of PRSU activity, during the six months ended July 31, 2023 is as follows:

Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2023
15,560 $181.17 
Granted(1)
7,318 $143.56 
Vested(1,862)$188.47 
Forfeited(472)$179.39 
Unvested Balance—April 30, 2023
20,544 $167.15 
Granted2,048 $187.08 
Vested(1,637)$169.81 
Forfeited(458)$176.59 
Unvested Balance—July 31, 2023
20,497 $168.72 
________________
(1)Includes 0.5 million PRSUs granted at 120% of the target number of PRSUs, which represents the maximum number of PRSUs that may be earned and eligible to vest with respect to these awards over their full term.

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

As discussed in Note 7, “Business Combinations,” during the six months ended July 31, 2022, in connection with the Streamlit business combination, the Company issued to Streamlit’s three founders a total of 0.4 million shares of the Company’s common stock outside of the Plans in exchange for a portion of their Streamlit stock. These shares are subject to vesting agreements pursuant to which the shares will vest over three years, subject to each founder’s continued employment with the Company or its affiliates. The $93.7 million fair value of these shares are accounted for as post-combination stock-based compensation over the requisite service period of three years. As of July 31, 2023, 0.3 million shares remained unvested.

A summary of restricted common stock activity during the six months ended July 31, 2023 is as follows:
Outside of the Plans
Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2023
428 $219.26 
Vested(142)$199.28 
Unvested Balance—April 30, 2023 and July 31, 2023
286 $229.13 

Stock-Based Compensation—The following table summarizes the assumptions used in estimating the fair value of stock options granted to employees during the six months ended July 31, 2022:

Six Months Ended July 31, 2022
Expected term (in years)6.0
Expected volatility50.0 %
Risk-free interest rate1.8 %
Expected dividend yield— %

No stock options were granted during the three months ended July 31, 2022 or each of the three and six months ended July 31, 2023.

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

Expected volatility—The Company uses the average volatility of its Class A common stock and the stocks of a peer group of representative public companies to develop an expected volatility assumption.

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

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

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

The following table summarizes the assumptions used in estimating the fair value of employee stock purchase rights granted under the 2020 ESPP during the three and six months ended July 31, 2023 and 2022:

Three and Six Months Ended July 31,
20232022
Expected term (in years)0.50.5
Expected volatility71.3 %58.9 %
Risk-free interest rate4.7 %0.9 %
Expected dividend yield— %— %
Stock-based compensation included in the condensed consolidated statements of operations was as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2023202220232022
Cost of revenue$32,302 $26,070 $62,764 $48,705 
Sales and marketing78,838 60,162 151,133 112,631 
Research and development163,005 96,897 299,422 170,490 
General and administrative25,577 26,052 50,912 49,848 
Stock-based compensation, net of amounts capitalized299,722 209,181 564,231 381,674 
Capitalized stock-based compensation12,903 6,715 24,622 13,210 
Total stock-based compensation$312,625 $215,896 $588,853 $394,884 

As of July 31, 2023, total compensation cost related to unvested stock-based awards not yet recognized was $3.0 billion, which will be recognized over a weighted-average period of 3.0 years.
v3.23.2
Income Taxes
 6 Months Ended
Jul. 31, 2023
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 1.6% and 2.2% for the three and six months ended July 31, 2023, respectively, and (1.8%) and 5.6% for the three and six months ended July 31, 2022, respectively. The Company has incurred U.S. operating losses and has minimal profits in foreign jurisdictions.

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

The Company is subject to income taxes in the United States and numerous foreign jurisdictions. As of July 31, 2023, tax years 2012 and forward generally remain open for examination for U.S. federal and state tax purposes, and tax years 2017 and forward generally remain open for examination for foreign tax purposes.

The Company has applied ASC 740 and determined that it has uncertain tax positions giving rise to unrecognized tax benefits for each of the three and six months ended July 31, 2023 and 2022. 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 and six months ended July 31, 2023, 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.
v3.23.2
Net Loss per Share
 6 Months Ended
Jul. 31, 2023
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. 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 employee stock purchase rights under the 2020 ESPP 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 July 31,Six Months Ended July 31,
2023202220232022
Numerator:
Net loss$(227,320)$(222,806)$(453,384)$(388,600)
Less: net loss attributable to noncontrolling interest(453)— (890)— 
Net loss attributable to Snowflake Inc. Class A common stockholders$(226,867)$(222,806)$(452,494)$(388,600)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted327,335 318,356 325,772 316,392 
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted$(0.69)$(0.70)$(1.39)$(1.23)

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 and Six Months Ended July 31,
20232022
Stock options30,893 38,163 
RSUs20,497 14,337 
Unvested restricted common stock and early exercised stock options291 641 
Employee stock purchase rights under the 2020 ESPP176 100 
Total51,857 53,241 
v3.23.2
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Pay vs Performance Disclosure        
Net Income (Loss) Attributable to Parent $ (226,867) $ (222,806) $ (452,494) $ (388,600)
v3.23.2
Insider Trading Arrangements
 3 Months Ended 6 Months Ended
Jul. 31, 2023
shares
Jul. 31, 2023
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
John McMahon, Former Director(1)
Terminate(2)
May 31, 2023X163,513March 11, 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) John McMahon served as a member of the board of directors until July 5, 2023.
(2) Trading arrangement was originally adopted on December 12, 2022.

No other officers or directors, as defined in Rule 16a-1(f), adopted and/or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as defined in Regulation S-K Item 408, during the last fiscal quarter.
Rule 10b5-1 Arrangement Adopted false  
Non-Rule 10b5-1 Arrangement Adopted false  
Adoption Date December 12, 2022  
Non-Rule 10b5-1 Arrangement Terminated false  
John McMahon [Member]    
Trading Arrangements, by Individual    
Name John McMahon  
Title Former Director  
Rule 10b5-1 Arrangement Terminated true  
Termination Date May 31, 2023  
Aggregate Available 163,513 163,513
v3.23.2
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Jul. 31, 2023
Accounting Policies [Abstract]  
Fiscal Year
Fiscal Year

The Company’s fiscal year ends on January 31. For example, references to fiscal 2024 refer to the fiscal year ending January 31, 2024.
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, 2023, which was filed with the SEC on March 29, 2023.
In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position as of July 31, 2023 and the results of operations for the three and six months ended July 31, 2023 and 2022, and cash flows for the six months ended July 31, 2023 and 2022. The condensed balance sheet as of January 31, 2023 was derived from the audited consolidated financial statements but does not include all disclosures required by GAAP. The results of operations for the three and six months ended July 31, 2023 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 InformationThe Company has a single operating and reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources.
Use of Estimates
Use of Estimates

The preparation of 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 (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. 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 employee stock purchase rights under the 2020 ESPP 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.
v3.23.2
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jul. 31, 2023
Accounting Policies [Abstract]  
Summary of Long-lived Assets by Geographic Areas
The following table presents the Company’s long-lived assets, comprising property and equipment, net and operating lease right-of-use assets, by geographic area (in thousands):
July 31, 2023January 31, 2023
United States$348,571 $329,275 
Other(1)
107,481 62,814 
Total$456,052 $392,089 
________________
(1)No individual country outside of the United States accounted for more than 10% of the Company’s long-lived assets as of July 31, 2023 and January 31, 2023.
v3.23.2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations (Tables)
 6 Months Ended
Jul. 31, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Revenue consists of the following (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2023202220232022
Product revenue$640,209 $466,268 $1,230,281 $860,702 
Professional services and other revenue33,809 30,980 67,336 58,917 
Total$674,018 $497,248 $1,297,617 $919,619 
Revenue from External Customers by Geographic Areas
Revenue by geographic area, based on the location of the Company’s customers (or end-customers under reseller arrangements), was as follows (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2023202220232022
Americas:
United States$516,367 $394,284 $999,356 $730,209 
Other Americas(1)
17,842 10,553 34,698 19,679 
EMEA(1)(2)
106,284 69,666 201,174 127,684 
Asia-Pacific and Japan(1)
33,525 22,745 62,389 42,047 
Total$674,018 $497,248 $1,297,617 $919,619 
________________
(1)No individual country in these areas represented more than 10% of the Company’s revenue for all periods presented.
(2)Includes Europe, the Middle East, and Africa.
v3.23.2
Cash Equivalents and Investments (Tables)
 6 Months Ended
Jul. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents and Investments
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

July 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$409,604 $— $— $409,604 
Corporate notes and bonds22,228 — — 22,228 
U.S. government securities15,993 — (1)15,992 
Commercial paper10,904 — (3)10,901 
Total cash equivalents458,729 — (4)458,725 
Investments:
Corporate notes and bonds1,760,591 620 (15,566)1,745,645 
U.S. government and agency securities1,259,084 23 (13,868)1,245,239 
Commercial paper793,135 6 (1,076)792,065 
Certificates of deposit315,001 53 (314)314,740 
Total investments4,127,811 702 (30,824)4,097,689 
Total cash equivalents and investments$4,586,540 $702 $(30,828)$4,556,414 

January 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds(1)
$520,138 $— $— $520,138 
Commercial paper9,305 — (1)9,304 
Corporate notes and bonds6,902 1 — 6,903 
Certificates of deposit3,045 — (1)3,044 
Total cash equivalents(1)
539,390 1 (2)539,389 
Investments:
Corporate notes and bonds2,124,454 2,096 (23,470)2,103,080 
Commercial paper883,023 272 (1,947)881,348 
U.S. government and agency securities715,949 107 (12,220)703,836 
Certificates of deposit453,557 278 (1,110)452,725 
Total investments4,176,983 2,753 (38,747)4,140,989 
Total cash equivalents and investments(1)
$4,716,373 $2,754 $(38,749)$4,680,378 
________________
(1)Includes a reclassification of $141.0 million from cash to cash equivalents for the money market funds balance as of January 31, 2023, as presented in the Annual Report on Form 10-K filed with the SEC on March 29, 2023. Such reclassification did not impact the Company’s consolidated balance sheet as of January 31, 2023 or its consolidated statement of cash flows for the fiscal year ended January 31, 2023.
Schedule of Cash Equivalents and Investments
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

July 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$409,604 $— $— $409,604 
Corporate notes and bonds22,228 — — 22,228 
U.S. government securities15,993 — (1)15,992 
Commercial paper10,904 — (3)10,901 
Total cash equivalents458,729 — (4)458,725 
Investments:
Corporate notes and bonds1,760,591 620 (15,566)1,745,645 
U.S. government and agency securities1,259,084 23 (13,868)1,245,239 
Commercial paper793,135 6 (1,076)792,065 
Certificates of deposit315,001 53 (314)314,740 
Total investments4,127,811 702 (30,824)4,097,689 
Total cash equivalents and investments$4,586,540 $702 $(30,828)$4,556,414 

January 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds(1)
$520,138 $— $— $520,138 
Commercial paper9,305 — (1)9,304 
Corporate notes and bonds6,902 1 — 6,903 
Certificates of deposit3,045 — (1)3,044 
Total cash equivalents(1)
539,390 1 (2)539,389 
Investments:
Corporate notes and bonds2,124,454 2,096 (23,470)2,103,080 
Commercial paper883,023 272 (1,947)881,348 
U.S. government and agency securities715,949 107 (12,220)703,836 
Certificates of deposit453,557 278 (1,110)452,725 
Total investments4,176,983 2,753 (38,747)4,140,989 
Total cash equivalents and investments(1)
$4,716,373 $2,754 $(38,749)$4,680,378 
________________
(1)Includes a reclassification of $141.0 million from cash to cash equivalents for the money market funds balance as of January 31, 2023, as presented in the Annual Report on Form 10-K filed with the SEC on March 29, 2023. Such reclassification did not impact the Company’s consolidated balance sheet as of January 31, 2023 or its consolidated statement of cash flows for the fiscal year ended January 31, 2023.
Schedule of Available For Sale Securities Remaining Contractual Maturity The estimated fair values of available-for-sale marketable debt securities, by remaining contractual maturity, are as follows (in thousands):
July 31, 2023
Estimated
Fair Value
Due within 1 year$3,046,062 
Due in 1 year to 3 years1,100,748 
Total$4,146,810 
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):

July 31, 2023
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
Commercial paper$10,901 $(3)$— $— $10,901 $(3)
U.S. government securities5,992 (1)— — 5,992 (1)
Total cash equivalents16,893 (4)— — 16,893 (4)
Investments:
Corporate notes and bonds979,478 (6,794)564,056 (8,772)1,543,534 (15,566)
U.S. government and agency securities894,573 (6,556)253,934 (7,312)1,148,507 (13,868)
Commercial paper756,598 (1,076)— — 756,598 (1,076)
Certificates of deposit215,833 (314)— — 215,833 (314)
Total investments2,846,482 (14,740)817,990 (16,084)3,664,472 (30,824)
Total cash equivalents and investments$2,863,375 $(14,744)$817,990 $(16,084)$3,681,365 $(30,828)
January 31, 2023
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
Commercial paper$9,304 $(1)$— $— $9,304 $(1)
Certificates of deposit3,044 (1)— — 3,044 (1)
Total cash equivalents12,348 (2)— — 12,348 (2)
Investments:
Corporate notes and bonds899,655 (8,521)736,431 (14,949)1,636,086 (23,470)
U.S. government and agency securities387,207 (3,157)232,771 (9,063)619,978 (12,220)
Commercial paper561,793 (1,947)— — 561,793 (1,947)
Certificates of deposit256,428 (1,110)— — 256,428 (1,110)
Total investments2,105,083 (14,735)969,202 (24,012)3,074,285 (38,747)
Total cash equivalents and investments$2,117,431 $(14,737)$969,202 $(24,012)$3,086,633 $(38,749)
v3.23.2
Fair Value Measurements (Tables)
 6 Months Ended
Jul. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of July 31, 2023 (in thousands):

Level 1
Level 2
Total
Cash equivalents:
Money market funds$409,604 $— $409,604 
Corporate notes and bonds— 22,228 22,228 
U.S. government securities— 15,992 15,992 
Commercial paper— 10,901 10,901 
Short-term investments:
Corporate notes and bonds— 1,070,871 1,070,871 
U.S. government and agency securities— 828,213 828,213 
Commercial paper— 792,065 792,065 
Certificates of deposit— 305,792 305,792 
Long-term investments:
Corporate notes and bonds— 674,774 674,774 
U.S. government and agency securities— 417,026 417,026 
Certificates of deposit— 8,948 8,948 
Total
$409,604 $4,146,810 $4,556,414 

The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of January 31, 2023 (in thousands):

Level 1
Level 2
Total
Cash equivalents:
Money market funds(1)
$520,138 $— $520,138 
Commercial paper— 9,304 9,304 
Corporate notes and bonds— 6,903 6,903 
Certificates of deposit— 3,044 3,044 
Short-term investments:
Corporate notes and bonds— 1,301,296 1,301,296 
Commercial paper— 881,348 881,348 
Certificates of deposit— 445,194 445,194 
U.S. government and agency securities— 440,128 440,128 
Long-term investments:
Corporate notes and bonds— 801,784 801,784 
U.S. government and agency securities— 263,708 263,708 
Certificates of deposit— 7,531 7,531 
Total(1)
$520,138 $4,160,240 $4,680,378 
________________
(1)Includes a reclassification of $141.0 million from cash to cash equivalents for the money market funds balance as of January 31, 2023, as presented in the Annual Report on Form 10-K filed with the SEC on March 29, 2023. Such reclassification did not impact the Company’s consolidated balance sheet as of January 31, 2023 or its consolidated statement of cash flows for the fiscal year ended January 31, 2023.
Schedule of Fair Value Measurements
The following table presents the Company’s strategic investments by type (in thousands):

July 31, 2023January 31, 2023
Equity securities:
Non-marketable equity securities under Measurement Alternative$192,046 $174,248 
Non-marketable equity securities under equity method5,165 5,066 
Marketable equity securities27,119 22,122 
Debt securities:
Non-marketable debt securities1,500 1,500 
Total strategic investments—included in other assets$225,830 $202,936 
Unrealized Gain (Loss) on Investments
The following table summarizes the unrealized gains and losses included in the carrying value of the Company’s strategic investments in equity securities held as of July 31, 2023 (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2023202220232022
Non-marketable equity securities under Measurement Alternative:
Impairments$(2,101)$(26,555)$(2,101)$(26,555)
Marketable equity securities:
Net unrealized gains (losses)7,410 3,382 4,996 (5,477)
Total—included in other income (expense), net$5,309 $(23,173)$2,895 $(32,032)
v3.23.2
Property and Equipment, Net (Tables)
 6 Months Ended
Jul. 31, 2023
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

July 31, 2023January 31, 2023
Leasehold improvements$67,590 $59,872 
Computers, equipment, and software22,869 20,050 
Furniture and fixtures16,429 14,800 
Capitalized internal-use software development costs63,238 44,059 
Construction in progress—capitalized internal-use software development costs77,138 61,575 
Construction in progress—other9,253 7,313 
Total property and equipment, gross256,517 207,669 
Less: accumulated depreciation and amortization(1)
(62,694)(46,846)
Total property and equipment, net$193,823 $160,823 
________________
(1)Includes $27.2 million and $19.9 million of accumulated amortization related to capitalized internal-use software development costs as of July 31, 2023 and January 31, 2023, respectively.
v3.23.2
Business Combinations (Tables)
 6 Months Ended
Jul. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary allocation of purchase consideration to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents$43,968 
Goodwill63,049 
Developed technology intangible assets83,000 5
Other net tangible liabilities(789)
Deferred tax liabilities, net(1)
(3,801)
Total$185,427 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.
The following table summarizes the preliminary allocation of purchase consideration to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents$11,594 
Goodwill45,450 
Developed technology intangible asset33,000 
5
Other net tangible liabilities(6,669)
Deferred tax liabilities, net(1)
(7,114)
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 following table summarizes the preliminary allocation of purchase consideration to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash, cash equivalents, and restricted cash$3,563 
Goodwill8,431 
Developed technology intangible asset53,000 
5
Other net tangible liabilities(1,434)
Deferred tax liabilities, net(1)
(1,552)
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 allocation of purchase consideration, inclusive of measurement period adjustments, was as follows:
Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents$33,914 
Goodwill494,411 
Developer community intangible asset150,000 
5
Other net tangible liabilities(659)
Deferred tax liabilities, net(1)
(26,911)
Total$650,755 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.
Business Acquisition, Pro Forma Information
The following unaudited pro forma financial information summarizes the combined results of operations of the Company and Neeva, as if Neeva had been acquired as of February 1, 2022 (in thousands):

Pro Forma
Three Months Ended July 31,Six Months Ended July 31,
2023202220232022
(unaudited)
Revenue$674,156 $497,261 $1,297,863 $919,640 
Net loss$(244,992)$(254,014)$(499,999)$(437,835)
The following unaudited pro forma financial information summarizes the combined results of operations of the Company and Streamlit, as if Streamlit had been acquired as of February 1, 2021 (in thousands):
Pro Forma
Three Months Ended July 31,Six Months Ended July 31,
2022202120222021
(unaudited)
Revenue$497,248 $272,198 $919,641 $501,112 
Net loss$(222,806)$(219,905)$(436,965)$(431,494)
Schedule of Business Acquisitions, by Acquisition The acquisition date fair value of the purchase consideration was $650.8 million, which was comprised of the following (in thousands):
Estimated Fair Value
Cash$211,839 
Common stock(1)
438,916 
Total
$650,755 
________________
(1)Approximately 1.9 million shares of the Company’s Class A common stock were included in the purchase consideration and the fair values of these shares were determined based on the closing market price of $229.13 per share on the acquisition date.
v3.23.2
Intangible Assets and Goodwill (Tables)
 6 Months Ended
Jul. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
Intangible assets, net consisted of the following (in thousands):

July 31, 2023
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$217,332 $(25,372)$191,960 
Developer community150,000 (40,067)109,933 
Assembled workforce55,732 (15,915)39,817 
Patents8,874 (5,309)3,565 
Other47 (47)— 
Total finite-lived intangible assets$431,985 $(86,710)$345,275 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$346,101 

January 31, 2023
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developer community$150,000 $(25,206)$124,794 
Developed technology48,332 (9,608)38,724 
Assembled workforce28,252 (11,036)17,216 
Patents8,874 (4,421)4,453 
Other47 (47)— 
Total finite-lived intangible assets$235,505 $(50,318)$185,187 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$186,013 
Schedule of Future Amortization Expense
As of July 31, 2023, future amortization expense is expected to be as follows (in thousands):

Amount
Fiscal Year Ending January 31,
Remainder of 2024$44,935 
202588,529 
202682,287 
202778,134 
202845,569 
Thereafter5,821 
Total$345,275 
Schedule of Goodwill
Changes in goodwill were as follows (in thousands):

Amount
Balance—January 31, 2023
$657,370 
Additions116,930 
Balance—July 31, 2023
$774,300 
v3.23.2
Accrued Expenses and Other Current Liabilities (Tables)
 6 Months Ended
Jul. 31, 2023
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):

July 31, 2023January 31, 2023
Accrued compensation$141,409 $123,173 
Accrued third-party cloud infrastructure expenses36,463 26,535 
Liabilities associated with sales, marketing and business development programs34,775 23,444 
Employee contributions under employee stock purchase plan25,053 36,648 
Accrued taxes16,447 20,003 
Accrued professional services10,531 11,776 
Accrued purchases of property and equipment4,378 3,876 
Other46,077 23,614 
Total accrued expenses and other current liabilities$315,133 $269,069 
v3.23.2
Equity (Tables)
 6 Months Ended
Jul. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares Reserved For Future Issuance The Company had reserved shares of common stock for future issuance as follows (in thousands):
July 31, 2023January 31, 2023
2012 Equity Incentive Plan:
Options outstanding30,279 35,212 
Restricted stock units outstanding1,610 2,521 
2020 Equity Incentive Plan:
Options outstanding614 642 
Restricted stock units outstanding18,887 13,039 
Shares available for future grants62,012 52,989 
2020 Employee Stock Purchase Plan:
Shares available for future grants13,967 11,046 
Total shares of common stock reserved for future issuance127,369 115,449 
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):

Six Months Ended July 31, 2023
Number of shares repurchased1,405 
Weighted-average price per share(1)
$136.39 
Aggregate purchase price(1)
$191,694 
________________
(1)Includes transaction costs associated with the repurchases.
Option Activity Rollforward
A summary of stock option activity and activity regarding shares available for grant under the Plans during the six months ended July 31, 2023 is as follows:

Shares
Available for Grant
(in thousands)		Number of Options Outstanding
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic
Value
(in thousands)
Balance—January 31, 2023
52,989 35,854 $11.27 5.9$5,237,549 
Shares authorized16,165 — 
Options exercised— (2,376)$6.45 
Options canceled50 (50)$5.38 
RSUs granted(7,318)— 
Shares withheld related to net share settlement of RSUs638 — 
RSUs forfeited472 — 
Balance—April 30, 2023
62,996 33,428 $11.63 5.7$4,599,537 
Options exercised— (2,480)$6.53 
Options canceled55 (55)$110.24 
RSUs granted(2,048)— 
Shares withheld related to net share settlement of RSUs551 — 
RSUs forfeited458 — 
Balance—July 31, 2023
62,012 30,893 $11.86 5.5$5,141,902 
Vested and exercisable as of July 31, 2023
29,248 $9.19 5.4$4,935,165 
Option Rollforward Schedule
A summary of stock option activity and activity regarding shares available for grant under the Plans during the six months ended July 31, 2023 is as follows:

Shares
Available for Grant
(in thousands)		Number of Options Outstanding
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic
Value
(in thousands)
Balance—January 31, 2023
52,989 35,854 $11.27 5.9$5,237,549 
Shares authorized16,165 — 
Options exercised— (2,376)$6.45 
Options canceled50 (50)$5.38 
RSUs granted(7,318)— 
Shares withheld related to net share settlement of RSUs638 — 
RSUs forfeited472 — 
Balance—April 30, 2023
62,996 33,428 $11.63 5.7$4,599,537 
Options exercised— (2,480)$6.53 
Options canceled55 (55)$110.24 
RSUs granted(2,048)— 
Shares withheld related to net share settlement of RSUs551 — 
RSUs forfeited458 — 
Balance—July 31, 2023
62,012 30,893 $11.86 5.5$5,141,902 
Vested and exercisable as of July 31, 2023
29,248 $9.19 5.4$4,935,165 
Schedule of Unvested RSU Rollforward
A summary of RSU activity, inclusive of PRSU activity, during the six months ended July 31, 2023 is as follows:

Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2023
15,560 $181.17 
Granted(1)
7,318 $143.56 
Vested(1,862)$188.47 
Forfeited(472)$179.39 
Unvested Balance—April 30, 2023
20,544 $167.15 
Granted2,048 $187.08 
Vested(1,637)$169.81 
Forfeited(458)$176.59 
Unvested Balance—July 31, 2023
20,497 $168.72 
________________
(1)Includes 0.5 million PRSUs granted at 120% of the target number of PRSUs, which represents the maximum number of PRSUs that may be earned and eligible to vest with respect to these awards over their full term.
Schedule of Unvested RSA Rollforward A summary of restricted common stock activity during the six months ended July 31, 2023 is as follows:
Outside of the Plans
Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2023
428 $219.26 
Vested(142)$199.28 
Unvested Balance—April 30, 2023 and July 31, 2023
286 $229.13 
Valuation Assumptions Schedule The following table summarizes the assumptions used in estimating the fair value of stock options granted to employees during the six months ended July 31, 2022:
Six Months Ended July 31, 2022
Expected term (in years)6.0
Expected volatility50.0 %
Risk-free interest rate1.8 %
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 and six months ended July 31, 2023 and 2022:

Three and Six Months Ended July 31,
20232022
Expected term (in years)0.50.5
Expected volatility71.3 %58.9 %
Risk-free interest rate4.7 %0.9 %
Expected dividend yield— %— %
Share-based Compensation Schedule
Stock-based compensation included in the condensed consolidated statements of operations was as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2023202220232022
Cost of revenue$32,302 $26,070 $62,764 $48,705 
Sales and marketing78,838 60,162 151,133 112,631 
Research and development163,005 96,897 299,422 170,490 
General and administrative25,577 26,052 50,912 49,848 
Stock-based compensation, net of amounts capitalized299,722 209,181 564,231 381,674 
Capitalized stock-based compensation12,903 6,715 24,622 13,210 
Total stock-based compensation$312,625 $215,896 $588,853 $394,884 
v3.23.2
Net Loss per Share (Tables)
 6 Months Ended
Jul. 31, 2023
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Loss per Share
The following table presents the calculation of basic and diluted net loss per share attributable to Snowflake Inc. Class A common stockholders (in thousands, except per share data):

Three Months Ended July 31,Six Months Ended July 31,
2023202220232022
Numerator:
Net loss$(227,320)$(222,806)$(453,384)$(388,600)
Less: net loss attributable to noncontrolling interest(453)— (890)— 
Net loss attributable to Snowflake Inc. Class A common stockholders$(226,867)$(222,806)$(452,494)$(388,600)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted327,335 318,356 325,772 316,392 
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted$(0.69)$(0.70)$(1.39)$(1.23)
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 and Six Months Ended July 31,
20232022
Stock options30,893 38,163 
RSUs20,497 14,337 
Unvested restricted common stock and early exercised stock options291 641 
Employee stock purchase rights under the 2020 ESPP176 100 
Total51,857 53,241 
v3.23.2
Basis of Presentation and Summary of Significant Accounting Policies - Summary of Long-lived Assets by Geographic Areas (Details) - USD ($)
$ in Thousands
Jul. 31, 2023
Jan. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 456,052 $ 392,089
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total 348,571 329,275
Other    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 107,481 $ 62,814
v3.23.2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Disaggregation of Revenue [Line Items]        
Revenue $ 674,018 $ 497,248 $ 1,297,617 $ 919,619
Product revenue        
Disaggregation of Revenue [Line Items]        
Revenue 640,209 466,268 1,230,281 860,702
Professional services and other revenue        
Disaggregation of Revenue [Line Items]        
Revenue $ 33,809 $ 30,980 $ 67,336 $ 58,917
v3.23.2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Revenue from External Customers by Geographic Areas (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Disaggregation of Revenue [Line Items]        
Revenue $ 674,018 $ 497,248 $ 1,297,617 $ 919,619
United States        
Disaggregation of Revenue [Line Items]        
Revenue 516,367 394,284 999,356 730,209
Other Americas        
Disaggregation of Revenue [Line Items]        
Revenue 17,842 10,553 34,698 19,679
EMEA        
Disaggregation of Revenue [Line Items]        
Revenue 106,284 69,666 201,174 127,684
Asia-Pacific and Japan        
Disaggregation of Revenue [Line Items]        
Revenue $ 33,525 $ 22,745 $ 62,389 $ 42,047
v3.23.2
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Jan. 31, 2023
Disaggregation of Revenue [Line Items]          
Allowance for doubtful accounts $ 1.4   $ 1.4   $ 2.2
Revenue recognized 524.0 $ 380.4 896.4 $ 622.9  
Remaining performance obligation $ 3,500.0   $ 3,500.0    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-08-01          
Disaggregation of Revenue [Line Items]          
Revenue, remaining performance obligation, percentage 57.00%   57.00%    
Remaining performance obligation, remaining life 12 months   12 months    
v3.23.2
Cash Equivalents and Investments - Schedule of Cash and Cash Equivalents and Investments Fair Value (Details) - USD ($)
$ in Thousands
Jul. 31, 2023
Jan. 31, 2023
Cash equivalents:    
Amortized Cost $ 458,729 $ 539,390
Gross Unrealized Gains 0 1
Gross Unrealized Losses (4) (2)
Estimated Fair Value 458,725 539,389
Investments:    
Amortized Cost 4,127,811 4,176,983
Gross Unrealized Gains 702 2,753
Gross Unrealized Losses (30,824) (38,747)
Estimated Fair Value 4,097,689 4,140,989
Amortized Cost 4,586,540 4,716,373
Gross Unrealized Gains 702 2,754
Gross Unrealized Losses (30,828) (38,749)
Estimated Fair Value 4,556,414 4,680,378
Corporate notes and bonds    
Investments:    
Amortized Cost 1,760,591 2,124,454
Gross Unrealized Gains 620 2,096
Gross Unrealized Losses (15,566) (23,470)
Estimated Fair Value 1,745,645 2,103,080
U.S. government and agency securities    
Investments:    
Amortized Cost 1,259,084 715,949
Gross Unrealized Gains 23 107
Gross Unrealized Losses (13,868) (12,220)
Estimated Fair Value 1,245,239 703,836
Commercial paper    
Investments:    
Amortized Cost 793,135 883,023
Gross Unrealized Gains 6 272
Gross Unrealized Losses (1,076) (1,947)
Estimated Fair Value 792,065 881,348
Certificates of deposit    
Investments:    
Amortized Cost 315,001 453,557
Gross Unrealized Gains 53 278
Gross Unrealized Losses (314) (1,110)
Estimated Fair Value 314,740 452,725
Money market funds    
Cash equivalents:    
Amortized Cost 409,604 520,138
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 409,604 520,138
Money market funds | Revision of Prior Period, Reclassification, Adjustment    
Cash equivalents:    
Estimated Fair Value   141,000
Corporate notes and bonds    
Cash equivalents:    
Amortized Cost 22,228 6,902
Gross Unrealized Gains 0 1
Gross Unrealized Losses 0 0
Estimated Fair Value 22,228 6,903
U.S. government securities    
Cash equivalents:    
Amortized Cost 15,993  
Gross Unrealized Gains 0  
Gross Unrealized Losses (1)  
Estimated Fair Value 15,992  
Commercial paper    
Cash equivalents:    
Amortized Cost 10,904 9,305
Gross Unrealized Gains 0 0
Gross Unrealized Losses (3) (1)
Estimated Fair Value $ 10,901 9,304
Certificates of deposit    
Cash equivalents:    
Amortized Cost   3,045
Gross Unrealized Gains   0
Gross Unrealized Losses   (1)
Estimated Fair Value   $ 3,044
v3.23.2
Cash Equivalents and Investments - Narrative (Details) - USD ($)
$ in Millions
 6 Months Ended
Jul. 31, 2023
Jan. 31, 2023
Debt Securities, Available-for-sale, Unrealized Loss Position    
Contractual maturities of available-for-sale debt securities, maximum 36 months  
Prepaid Expenses and Other Current Assets    
Debt Securities, Available-for-sale, Unrealized Loss Position    
Interest receivable, current $ 26.3 $ 19.4
v3.23.2
Cash Equivalents and Investments - Schedule of Available for Sale Securities Remaining Contractual Maturity (Details)
$ in Thousands
Jul. 31, 2023
USD ($)
Investments, Debt and Equity Securities [Abstract]  
Due within 1 year $ 3,046,062
Due in 1 year to 3 years 1,100,748
Total $ 4,146,810
v3.23.2
Cash Equivalents and Investments - Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - USD ($)
$ in Thousands
Jul. 31, 2023
Jan. 31, 2023
Cash Equivalents, Fair Value    
Less than 12 months, fair value $ 16,893 $ 12,348
12 months or greater, fair value 0 0
Total, fair value 16,893 12,348
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (4) (2)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (4) (2)
Investments, Fair Value    
Less than 12 months, fair value 2,846,482 2,105,083
12 months or greater, fair value 817,990 969,202
Total, fair value 3,664,472 3,074,285
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (14,740) (14,735)
12 months or greater, accumulated losses (16,084) (24,012)
Total, accumulated losses (30,824) (38,747)
Cash Equivalents And Debt Securities, Available-For-Sale [Abstract]    
Less than 12 months, fair value 2,863,375 2,117,431
12 months or greater, fair value 817,990 969,202
Total, fair value 3,681,365 3,086,633
Cash Equivalents And Debt Securities, Available-For-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, accumulated losses (14,744) (14,737)
12 months or greater, accumulated losses (16,084) (24,012)
Total, accumulated losses (30,828) (38,749)
Corporate notes and bonds    
Investments, Fair Value    
Less than 12 months, fair value 979,478 899,655
12 months or greater, fair value 564,056 736,431
Total, fair value 1,543,534 1,636,086
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (6,794) (8,521)
12 months or greater, accumulated losses (8,772) (14,949)
Total, accumulated losses (15,566) (23,470)
U.S. government and agency securities    
Investments, Fair Value    
Less than 12 months, fair value 894,573 387,207
12 months or greater, fair value 253,934 232,771
Total, fair value 1,148,507 619,978
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (6,556) (3,157)
12 months or greater, accumulated losses (7,312) (9,063)
Total, accumulated losses (13,868) (12,220)
Commercial paper    
Investments, Fair Value    
Less than 12 months, fair value 756,598 561,793
12 months or greater, fair value 0 0
Total, fair value 756,598 561,793
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (1,076) (1,947)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (1,076) (1,947)
Certificates of deposit    
Investments, Fair Value    
Less than 12 months, fair value 215,833 256,428
12 months or greater, fair value 0 0
Total, fair value 215,833 256,428
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (314) (1,110)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (314) (1,110)
Commercial paper    
Cash Equivalents, Fair Value    
Less than 12 months, fair value 10,901 9,304
12 months or greater, fair value 0 0
Total, fair value 10,901 9,304
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (3) (1)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (3) (1)
U.S. government securities    
Cash Equivalents, Fair Value    
Less than 12 months, fair value 5,992  
12 months or greater, fair value 0  
Total, fair value 5,992  
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (1)  
12 months or greater, accumulated losses 0  
Total, accumulated losses $ (1)  
Certificates of deposit    
Cash Equivalents, Fair Value    
Less than 12 months, fair value   3,044
12 months or greater, fair value   0
Total, fair value   3,044
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses   (1)
12 months or greater, accumulated losses   0
Total, accumulated losses   $ (1)
v3.23.2
Fair Value Measurements (Details) - USD ($)
$ in Thousands
Jul. 31, 2023
Jan. 31, 2023
Assets, Fair Value Disclosure    
Cash equivalents: $ 458,725 $ 539,389
Short-term investments 2,996,941 3,067,966
Long-term investments 1,100,748 1,073,023
Money market funds    
Assets, Fair Value Disclosure    
Cash equivalents: 409,604 520,138
Money market funds | Revision of Prior Period, Reclassification, Adjustment    
Assets, Fair Value Disclosure    
Cash equivalents:   141,000
Corporate notes and bonds    
Assets, Fair Value Disclosure    
Cash equivalents: 22,228 6,903
U.S. government securities    
Assets, Fair Value Disclosure    
Cash equivalents: 15,992  
Commercial paper    
Assets, Fair Value Disclosure    
Cash equivalents: 10,901 9,304
Certificates of deposit    
Assets, Fair Value Disclosure    
Cash equivalents:   3,044
Level 1 | Money market funds | Revision of Prior Period, Reclassification, Adjustment    
Assets, Fair Value Disclosure    
Cash equivalents:   141,000
Recurring    
Assets, Fair Value Disclosure    
Total 4,556,414 4,680,378
Recurring | Corporate notes and bonds    
Assets, Fair Value Disclosure    
Short-term investments 1,070,871 1,301,296
Long-term investments 674,774 801,784
Recurring | U.S. government and agency securities    
Assets, Fair Value Disclosure    
Short-term investments 828,213 440,128
Long-term investments 417,026 263,708
Recurring | Commercial paper    
Assets, Fair Value Disclosure    
Short-term investments 792,065 881,348
Recurring | Certificates of deposit    
Assets, Fair Value Disclosure    
Short-term investments 305,792 445,194
Long-term investments 8,948 7,531
Recurring | Money market funds    
Assets, Fair Value Disclosure    
Cash equivalents: 409,604 520,138
Recurring | Corporate notes and bonds    
Assets, Fair Value Disclosure    
Cash equivalents: 22,228 6,903
Recurring | U.S. government securities    
Assets, Fair Value Disclosure    
Cash equivalents: 15,992  
Recurring | Commercial paper    
Assets, Fair Value Disclosure    
Cash equivalents: 10,901 9,304
Recurring | Certificates of deposit    
Assets, Fair Value Disclosure    
Cash equivalents:   3,044
Recurring | Level 1    
Assets, Fair Value Disclosure    
Total 409,604 520,138
Recurring | Level 1 | Corporate notes and bonds    
Assets, Fair Value Disclosure    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | U.S. government and agency securities    
Assets, Fair Value Disclosure    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | Commercial paper    
Assets, Fair Value Disclosure    
Short-term investments 0 0
Recurring | Level 1 | Certificates of deposit    
Assets, Fair Value Disclosure    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | Money market funds    
Assets, Fair Value Disclosure    
Cash equivalents: 409,604 520,138
Recurring | Level 1 | Corporate notes and bonds    
Assets, Fair Value Disclosure    
Cash equivalents: 0 0
Recurring | Level 1 | U.S. government securities    
Assets, Fair Value Disclosure    
Cash equivalents: 0  
Recurring | Level 1 | Commercial paper    
Assets, Fair Value Disclosure    
Cash equivalents: 0 0
Recurring | Level 1 | Certificates of deposit    
Assets, Fair Value Disclosure    
Cash equivalents:   0
Recurring | Level 2    
Assets, Fair Value Disclosure    
Total 4,146,810 4,160,240
Recurring | Level 2 | Corporate notes and bonds    
Assets, Fair Value Disclosure    
Short-term investments 1,070,871 1,301,296
Long-term investments 674,774 801,784
Recurring | Level 2 | U.S. government and agency securities    
Assets, Fair Value Disclosure    
Short-term investments 828,213 440,128
Long-term investments 417,026 263,708
Recurring | Level 2 | Commercial paper    
Assets, Fair Value Disclosure    
Short-term investments 792,065 881,348
Recurring | Level 2 | Certificates of deposit    
Assets, Fair Value Disclosure    
Short-term investments 305,792 445,194
Long-term investments 8,948 7,531
Recurring | Level 2 | Money market funds    
Assets, Fair Value Disclosure    
Cash equivalents: 0 0
Recurring | Level 2 | Corporate notes and bonds    
Assets, Fair Value Disclosure    
Cash equivalents: 22,228 6,903
Recurring | Level 2 | U.S. government securities    
Assets, Fair Value Disclosure    
Cash equivalents: 15,992  
Recurring | Level 2 | Commercial paper    
Assets, Fair Value Disclosure    
Cash equivalents: $ 10,901 9,304
Recurring | Level 2 | Certificates of deposit    
Assets, Fair Value Disclosure    
Cash equivalents:   $ 3,044
v3.23.2
Fair Value Measurements - Summary of Strategic Investments (Details) - USD ($)
$ in Thousands
Jul. 31, 2023
Jan. 31, 2023
Fair Value Disclosures [Abstract]    
Non-marketable equity securities under Measurement Alternative $ 192,046 $ 174,248
Non-marketable equity securities under equity method 5,165 5,066
Marketable equity securities 27,119 22,122
Non-marketable debt securities 1,500 1,500
Total strategic investments—included in other assets 225,830 202,936
Cash equivalents: $ 458,725 $ 539,389
v3.23.2
Fair Value Measurements - Unrealized Gain (Loss) on Investments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Fair Value Disclosures [Abstract]        
Impairments $ (2,101) $ (26,555) $ (2,101) $ (26,555)
Net unrealized gains (losses) 7,410 3,382 4,996 (5,477)
Total—included in other income (expense), net $ 5,309 $ (23,173) $ 2,895 $ (32,032)
v3.23.2
Fair Value Measurements - Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Fair Value Disclosures [Abstract]        
Impairments $ 2,101,000 $ 26,555,000 $ 2,101,000 $ 26,555,000
Upward adjustments 37,100,000   37,100,000  
Impairments 40,100,000   40,100,000  
Equity securities, realized gain (loss) $ 0 $ 0 $ 0 $ 0
v3.23.2
Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Jul. 31, 2023
Jan. 31, 2023
Property, Plant and Equipment    
Total property and equipment, gross $ 256,517 $ 207,669
Less: accumulated depreciation and amortization (62,694) (46,846)
Total property and equipment, net 193,823 160,823
Leasehold improvements    
Property, Plant and Equipment    
Total property and equipment, gross 67,590 59,872
Computers, equipment, and software    
Property, Plant and Equipment    
Total property and equipment, gross 22,869 20,050
Furniture and fixtures    
Property, Plant and Equipment    
Total property and equipment, gross 16,429 14,800
Capitalized internal-use software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 63,238 44,059
Less: accumulated depreciation and amortization (27,200) (19,900)
Construction in progress—capitalized internal-use software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 77,138 61,575
Construction in progress—other    
Property, Plant and Equipment    
Total property and equipment, gross $ 9,253 $ 7,313
v3.23.2
Property and Equipment, Net - Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Property, Plant and Equipment [Abstract]        
Depreciation $ 8,500,000 $ 5,900,000 $ 16,100,000 $ 10,500,000
Accumulated amortization, property, plant, and equipment $ 3,900,000 2,400,000 7,400,000 3,900,000
Impairment of capitalized internal-use software   $ 0 $ 7,100,000 $ 0
v3.23.2
Business Combinations - Narrative (Details)
shares in Millions
 3 Months Ended 6 Months Ended
Feb. 10, 2023
USD ($)
Mar. 31, 2022
USD ($)
founder
shares
Jul. 31, 2023
USD ($)
Jul. 31, 2023
USD ($)
Jul. 31, 2022
USD ($)
founder
shares
Neeva Inc.          
Business Acquisition [Line Items]          
Consideration transferred     $ 185,400,000    
Business combination, acquisition related costs       $ 0  
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  
Streamlit, Inc.          
Business Acquisition [Line Items]          
Consideration transferred   $ 650,755,000      
Business combination, acquisition related costs         $ 1,900,000
Number of founders | founder   3     3
Streamlit, Inc. | RCS | Outside of the Plans | Class A Common Stock          
Business Acquisition [Line Items]          
Granted (shares) | shares   0.4     0.4
Post-combination share-based compensation arrangement by share-based payment award, award vesting period   3 years     3 years
Post-combination share-based compensation arrangement by share-based payment award, equity instruments other than options, granted in period, total fair value   $ 93,700,000     $ 93,700,000
Post-combination share-based compensation arrangement by share-based payment award, award service period   3 years     3 years
v3.23.2
Business Combinations - Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
 3 Months Ended
Feb. 10, 2023
Mar. 31, 2022
Jul. 31, 2023
Jan. 31, 2023
Business Acquisition [Line Items]        
Goodwill     $ 774,300 $ 657,370
Neeva Inc.        
Business Acquisition [Line Items]        
Cash and cash equivalents     43,968  
Goodwill     63,049  
Developer community intangible asset     83,000  
Other net tangible liabilities     (789)  
Deferred tax liabilities, net     (3,801)  
Total     $ 185,427  
Estimated Useful Life (in years)     5 years  
Mountain US Corporation        
Business Acquisition [Line Items]        
Cash and cash equivalents $ 11,594      
Goodwill 45,450      
Developer community intangible asset 33,000      
Other net tangible liabilities (6,669)      
Deferred tax liabilities, net (7,114)      
Total $ 76,261      
Estimated Useful Life (in years) 5 years      
LeapYear Technologies, Inc.        
Business Acquisition [Line Items]        
Cash and cash equivalents $ 3,563      
Goodwill 8,431      
Developer community intangible asset 53,000      
Other net tangible liabilities (1,434)      
Deferred tax liabilities, net (1,552)      
Total $ 62,008      
Estimated Useful Life (in years) 5 years      
Streamlit, Inc.        
Business Acquisition [Line Items]        
Cash and cash equivalents   $ 33,914    
Goodwill   494,411    
Developer community intangible asset   150,000    
Other net tangible liabilities   (659)    
Deferred tax liabilities, net   (26,911)    
Total   $ 650,755    
Estimated Useful Life (in years)   5 years    
v3.23.2
Business Combinations - Pro Forma Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2021
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2021
Neeva Inc.            
Business Acquisition [Line Items]            
Revenue $ 674,156 $ 497,261   $ 1,297,863 $ 919,640  
Net loss $ (244,992) (254,014)   $ (499,999) (437,835)  
Streamlit, Inc.            
Business Acquisition [Line Items]            
Revenue   497,248 $ 272,198   919,641 $ 501,112
Net loss   $ (222,806) $ (219,905)   $ (436,965) $ (431,494)
v3.23.2
Business Combinations - Schedule of Acquisition Date Fair Value of Consideration Transferred (Details) - Streamlit, Inc.
$ / shares in Units, $ in Thousands, shares in Millions
Mar. 31, 2022
USD ($)
$ / shares
shares
Business Acquisition [Line Items]  
Cash $ 211,839
Total 650,755
Class A Common Stock  
Business Acquisition [Line Items]  
Common stock $ 438,916
Class A Common Stock | Outside of the Plans  
Business Acquisition [Line Items]  
Business acquisition, equity interest issued or issuable (in shares) | shares 1.9
Business acquisition, share price (in dollars per share) | $ / shares $ 229.13
v3.23.2
Intangible Assets and Goodwill - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Jul. 31, 2023
Jan. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Gross $ 431,985 $ 235,505
Accumulated Amortization (86,710) (50,318)
Net 345,275 185,187
Indefinite-lived intangible assets—trademarks 826 826
Total intangible assets, net 346,101 186,013
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross 217,332 48,332
Accumulated Amortization (25,372) (9,608)
Net 191,960 38,724
Developer community    
Finite-Lived Intangible Assets [Line Items]    
Gross 150,000 150,000
Accumulated Amortization (40,067) (25,206)
Net 109,933 124,794
Assembled workforce    
Finite-Lived Intangible Assets [Line Items]    
Gross 55,732 28,252
Accumulated Amortization (15,915) (11,036)
Net 39,817 17,216
Patents    
Finite-Lived Intangible Assets [Line Items]    
Gross 8,874 8,874
Accumulated Amortization (5,309) (4,421)
Net 3,565 4,453
Other    
Finite-Lived Intangible Assets [Line Items]    
Gross 47 47
Accumulated Amortization (47) (47)
Net $ 0 $ 0
v3.23.2
Intangible Assets and Goodwill - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Finite-Lived Intangible Assets [Line Items]        
Amortization expense $ 20.8 $ 10.3 $ 36.4 $ 15.6
Assembled workforce        
Finite-Lived Intangible Assets [Line Items]        
Intangible assets acquired     $ 27.5  
Estimated Useful Life (in years)     4 years  
v3.23.2
Intangible Assets and Goodwill - Schedule of Future Amortization Expense (Details) - USD ($)
$ in Thousands
Jul. 31, 2023
Jan. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2024 $ 44,935  
2025 88,529  
2026 82,287  
2027 78,134  
2028 45,569  
Thereafter 5,821  
Net $ 345,275 $ 185,187
v3.23.2
Intangible Assets and Goodwill - Schedule of Goodwill (Details)
$ in Thousands
 6 Months Ended
Jul. 31, 2023
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 657,370
Additions 116,930
Ending balance $ 774,300
v3.23.2
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Jul. 31, 2023
Jan. 31, 2023
Payables and Accruals [Abstract]    
Accrued compensation $ 141,409 $ 123,173
Accrued third-party cloud infrastructure expenses 36,463 26,535
Liabilities associated with sales, marketing and business development programs 34,775 23,444
Employee contributions under employee stock purchase plan 25,053 36,648
Accrued taxes 16,447 20,003
Accrued professional services 10,531 11,776
Accrued purchases of property and equipment 4,378 3,876
Other 46,077 23,614
Total accrued expenses and other current liabilities $ 315,133 $ 269,069
v3.23.2
Commitment and Contingencies - Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Jun. 30, 2023
Jan. 31, 2023
Other Commitments [Line Items]            
Sublease income $ 3,100,000 $ 3,300,000 $ 6,200,000 $ 6,600,000    
Cost of matching contributions 0 $ 0 0 $ 0    
Letters of credit outstanding 17,900,000   17,900,000      
Cloud Infrastructure Agreements, Between June 2023 And May 2028            
Other Commitments [Line Items]            
Payment for other commitment         $ 1,000,000,000  
Cloud Infrastructure Agreements, Between September 2020 And December 2025            
Other Commitments [Line Items]            
Payment for other commitment           $ 416,400,000
Office Facility Outside Of U.S.            
Other Commitments [Line Items]            
Lessee, operating lease, liability, to be paid 35,700,000   $ 35,700,000      
Right-of-use asset obtained in exchange for operating lease liability $ 31,000,000          
v3.23.2
Equity - Narrative (Details)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Feb. 01, 2023
shares
Mar. 31, 2022
USD ($)
founder
shares
Jul. 31, 2023
USD ($)
shares
Apr. 30, 2023
shares
Jul. 31, 2022
USD ($)
shares
Jul. 31, 2023
USD ($)
shares
Jul. 31, 2022
USD ($)
founder
$ / shares
shares
Feb. 28, 2023
USD ($)
Jan. 31, 2023
shares
Share-based Compensation Arrangement by Share-based Payment Award                  
Stock repurchase program, authorized amount | $               $ 2,000,000  
Number of shares repurchased (in shares)     0     1,405,000      
Stock repurchase program, remaining authorized repurchase amount | $     $ 1,800,000     $ 1,800,000      
Repurchases of common stock (in shares)           500,000      
Additional shares authorized (in shares)       16,165,000          
Options granted (shares)     0   0 0      
Granted (per share) | $ / shares             $ 101.66    
Intrinsic value of shares exercised | $           $ 736,700 $ 704,600    
Grant date fair value of vested shares | $           28,300 41,300    
Share-based compensation expense | $     $ 299,722   $ 209,181 $ 564,231 $ 381,674    
Expected dividend yield           0.00%      
Unrecognized share-based compensation expense | $     $ 3,000,000     $ 3,000,000      
Unrecognized share-based compensation expense recognition period (term)           3 years      
Streamlit, Inc.                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Number of founders | founder   3         3    
2020 Equity Incentive Plan                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Additional shares authorized (in shares) 16,200,000                
Employee stock purchase rights under the 2020 ESPP                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Offering period           6 months      
Additional shares authorized (in shares) 3,200,000                
Expected dividend yield     0.00%   0.00% 0.00% 0.00%    
Stock options                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           4 years      
Expiration period (years)           10 years      
Expected dividend yield             0.00%    
Stock options | 2012 Equity Incentive Plan:                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Expiration period (years)           10 years      
RSUs                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           4 years      
Granted (shares)     2,048,000 7,318,000          
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number     20,497,000 20,544,000   20,497,000     15,560,000
RSUs | Grant Date                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           1 year      
RCS | Outside of the Plans                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number     286,000 286,000   286,000     428,000
RCS | Outside of the Plans | Streamlit, Inc.                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number     300,000     300,000      
Performance-based restricted stock                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Granted (shares)       500,000          
Performance-based restricted stock | 2020 Plan                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           4 years      
Share-based compensation expense | $     $ 6,300     $ 10,100      
Performance-based restricted stock | 2020 Plan | Minimum                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Performance target, percentage           0.00%      
Performance-based restricted stock | 2020 Plan | Maximum                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Performance target, percentage       120.00%   120.00%      
Performance-based restricted stock | 2020 Plan | Grant Date                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           1 year      
Class A Common Stock | RCS | Outside of the Plans | Streamlit, Inc.                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Granted (shares)   400,000         400,000    
Post-combination share-based compensation arrangement by share-based payment award, award vesting period   3 years         3 years    
Post-combination share-based compensation arrangement by share-based payment award, equity instruments other than options, granted in period, total fair value | $   $ 93,700         $ 93,700    
Post-combination share-based compensation arrangement by share-based payment award, award service period   3 years         3 years    
v3.23.2
Equity - Schedule of Shares Reserved For Future Issuance (Details) - shares
shares in Thousands
Jul. 31, 2023
Jan. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 127,369 115,449
Employee stock purchase rights under the 2020 ESPP    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 13,967 11,046
2012 Equity Incentive Plan: | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 30,279 35,212
2012 Equity Incentive Plan: | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 1,610 2,521
2020 Equity Incentive Plan | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 614 642
2020 Equity Incentive Plan | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 18,887 13,039
2020 Equity Incentive Plan | Options available for future grant    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 62,012 52,989
v3.23.2
Equity - Schedule of Stock Repurchase Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2023
Jul. 31, 2022
Share-Based Payment Arrangement [Abstract]      
Number of shares repurchased (in shares) 0 1,405,000  
Weighted-average price per share (in dollars per share)   $ 136.39  
Aggregate purchase price   $ 191,694 $ 0
v3.23.2
Equity - Option Activity Rollforward (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jul. 31, 2023
Apr. 30, 2023
Jul. 31, 2023
Jan. 31, 2023
Shares Available for Grant (in thousands)        
Shares authorized (in shares)   16,165    
Options canceled (in shares) 55 50    
Number of Options Outstanding (in thousands)        
Shares outstanding, beginning (in shares) 33,428 35,854 35,854  
Options exercise (in shares) (2,480) (2,376)    
Options canceled (in shares) (55) (50)    
Shares outstanding, ending (in shares) 30,893 33,428 30,893 35,854
Weighted- Average Exercise Price        
Shares outstanding, beginning balance (in dollars per share) $ 11.63 $ 11.27 $ 11.27  
Exercises (in dollars per share) 6.53 6.45    
Canceled (in dollars per share) 110.24 5.38    
Shares outstanding, ending balance (in dollars per share) $ 11.86 $ 11.63 $ 11.86 $ 11.27
Weighted-average remaining contractual life 5 years 6 months 5 years 8 months 12 days   5 years 10 months 24 days
Aggregate Intrinsic Value (in thousands)        
Aggregate intrinsic value $ 5,141,902 $ 4,599,537 $ 5,141,902 $ 5,237,549
Vested and exercisable (in shares) 29,248   29,248  
Vested and exercisable, weighted average share price (in dollars per share) $ 9.19   $ 9.19  
Vested and exercisable, weighted average remaining contractual life     5 years 4 months 24 days  
Vested and exercisable, intrinsic value $ 4,935,165   $ 4,935,165  
2020 Equity Incentive Plan        
Shares Available for Grant (in thousands)        
Shares available for grant, beginning (in shares) 62,996 52,989 52,989  
Shares available for grant, ending (in shares) 62,012 62,996 62,012 52,989
RSUs        
Shares Available for Grant (in thousands)        
RSU's granted (in shares) (2,048) (7,318)    
Shares withheld (in shares) 551 638    
RSU's forfeited (in shares) 458 472    
v3.23.2
Equity - Unvested RSA & RSU Rollforward (Details) - $ / shares
shares in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Apr. 30, 2023
Jul. 31, 2023
RSUs      
Number of Shares (in thousands)      
Unvested balance, beginning (shares) 20,544 15,560 15,560
Granted (shares) 2,048 7,318  
Vested (shares) (1,637) (1,862)  
Forfeited (shares) (458) (472)  
Unvested balance, ending (shares) 20,497 20,544 20,497
Weighted-Average Grant Date Fair Value per Share      
Unvested balance , beginning balance (in dollars per share) $ 167.15 $ 181.17 $ 181.17
Granted (in dollars per share) 187.08 143.56  
Vested (in dollars per share) 169.81 188.47  
Forfeited (in dollars per share) 176.59 179.39  
Unvested balance , ending balance (in dollars per share) $ 168.72 $ 167.15 $ 168.72
Performance-based restricted stock      
Number of Shares (in thousands)      
Granted (shares)   500  
Outside of the Plans | RCS      
Number of Shares (in thousands)      
Unvested balance, beginning (shares) 286 428 428
Vested (shares)   (142) (142)
Unvested balance, ending (shares) 286 286 286
Weighted-Average Grant Date Fair Value per Share      
Unvested balance , beginning balance (in dollars per share) $ 229.13 $ 219.26 $ 219.26
Vested (in dollars per share)   199.28 199.28
Unvested balance , ending balance (in dollars per share) $ 229.13 $ 229.13 $ 229.13
v3.23.2
Equity - Valuation Assumptions (Details)
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology        
Expected dividend yield     0.00%  
Stock options        
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology        
Expected term (in years)       6 years
Expected volatility       50.00%
Risk-free interest rate       1.80%
Expected dividend yield       0.00%
Employee stock purchase rights under the 2020 ESPP        
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology        
Expected term (in years) 6 months 6 months 6 months 6 months
Expected volatility 71.30% 58.90% 71.30% 58.90%
Risk-free interest rate 4.70% 0.90% 4.70% 0.90%
Expected dividend yield 0.00% 0.00% 0.00% 0.00%
v3.23.2
Equity - Share-based Compensation (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized $ 299,722 $ 209,181 $ 564,231 $ 381,674
Capitalized stock-based compensation 12,903 6,715 24,622 13,210
Total stock-based compensation 312,625 215,896 588,853 394,884
Cost of revenue        
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized 32,302 26,070 62,764 48,705
Sales and marketing        
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized 78,838 60,162 151,133 112,631
Research and development        
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized 163,005 96,897 299,422 170,490
General and administrative        
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized $ 25,577 $ 26,052 $ 50,912 $ 49,848
v3.23.2
Income Taxes - Narrative (Details)
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Income Tax Disclosure [Abstract]        
Effective tax rate 1.60% (1.80%) 2.20% 5.60%
v3.23.2
Net Loss per Share - Schedule of Basic and Diluted Net Loss per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Earnings Per Share [Abstract]        
Net loss $ (227,320) $ (222,806) $ (453,384) $ (388,600)
Less: net loss attributable to noncontrolling interest (453) 0 (890) 0
Net loss attributable to Snowflake Inc. $ (226,867) $ (222,806) $ (452,494) $ (388,600)
Weighted-average shares used in computing net loss per share attributable to Class A common stockholders - basic (in shares) 327,335 318,356 325,772 316,392
Weighted-average shares used in computing net loss per share attributable to Class A common stockholders - diluted (in shares) 327,335 318,356 325,772 316,392
Net loss per share attributable to Class A common stockholders- basic (in dollars per share) $ (0.69) $ (0.70) $ (1.39) $ (1.23)
Net loss per share attributable to Class A common stockholders - diluted (in dollars per share) $ (0.69) $ (0.70) $ (1.39) $ (1.23)
v3.23.2
Net Loss per Share - Schedule of Potentially Dilutive Securities Excluded from Computation of Net Loss per Share (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) 51,857 53,241 51,857 53,241
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) 30,893 38,163 30,893 38,163
RSUs        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) 20,497 14,337 20,497 14,337
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) 291 641 291 641
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) 176 100 176 100