SNOWFLAKE INC., 10-Q filed on 8/29/2024
Quarterly Report
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Cover - shares
shares in Millions
 6 Months Ended
Jul. 31, 2024
Aug. 20, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jul. 31, 2024  
Document Transition Report false  
Entity File Number 001-39504  
Entity Registrant Name SNOWFLAKE INC.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 46-0636374  
Entity Address, Address Line One Suite 3A  
Entity Address, Address Line Two 106 East Babcock Street  
Entity Address, City or Town Bozeman  
Entity Address, State or Province MT  
Entity Address, Postal Zip Code 59715  
City Area Code 844  
Local Phone Number 766-9355  
Title of 12(b) Security Class A Common Stock, $0.0001 par value  
Trading Symbol SNOW  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   335.2
Entity Central Index Key 0001640147  
Current Fiscal Year End Date --01-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q2  
Amendment Flag false  
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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jul. 31, 2024
Jan. 31, 2024
Current assets:    
Cash and cash equivalents $ 1,282,045 $ 1,762,749
Short-term investments 1,948,462 2,083,499
Accounts receivable, net 431,597 926,902
Deferred commissions, current 86,899 86,096
Prepaid expenses and other current assets 149,085 180,018
Total current assets 3,898,088 5,039,264
Long-term investments 697,406 916,307
Property and equipment, net 264,778 247,464
Operating lease right-of-use assets 272,459 252,128
Goodwill 984,076 975,906
Intangible assets, net 286,538 331,411
Deferred commissions, non-current 177,457 187,093
Other assets 363,084 273,810
Total assets 6,943,886 8,223,383
Current liabilities:    
Accounts payable 134,537 51,721
Accrued expenses and other current liabilities 448,926 446,860
Operating lease liabilities, current 32,843 33,944
Deferred revenue, current 1,848,376 2,198,705
Total current liabilities 2,464,682 2,731,230
Operating lease liabilities, non-current 279,969 254,037
Deferred revenue, non-current 12,280 14,402
Other liabilities 49,367 33,120
Total liabilities 2,806,298 3,032,789
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Preferred stock; $0.0001 par value per share; 200,000 shares authorized, zero shares issued and outstanding as of each July 31, 2024 and January 31, 2024 0 0
Common stock; $0.0001 par value per share; 2,500,000 Class A shares authorized, 335,620 and 334,453 shares issued and outstanding as of July 31, 2024 and January 31, 2024, respectively (excluding 200 shares held by a wholly-owned subsidiary and treated as treasury stock for accounting purposes as of each July 31, 2024 and January 31, 2024); 185,461 Class B shares authorized, zero shares issued and outstanding as of each July 31, 2024 and January 31, 2024 34 34
Treasury stock, at cost; 460 and 492 shares held as of July 31, 2024 and January 31, 2024, respectively (62,800) (67,140)
Additional paid-in capital 9,822,965 9,331,238
Accumulated other comprehensive loss (5,379) (8,220)
Accumulated deficit (5,625,819) (4,075,604)
Total Snowflake Inc. stockholders’ equity 4,129,001 5,180,308
Noncontrolling interest 8,587 10,286
Total stockholders’ equity 4,137,588 5,190,594
Total liabilities and stockholders’ equity $ 6,943,886 $ 8,223,383
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CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares
Jul. 31, 2024
Jan. 31, 2024
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 200,000,000 200,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Treasury stock (in shares) 460,000 492,000
Class A Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,500,000,000 2,500,000,000
Common stock, shares issued (in shares) 335,620,000 334,453,000
Common stock, shares outstanding (in shares) 335,620,000 334,453,000
Class A Common Stock | Investing Subsidiary    
Treasury stock (in shares) 200,000 200,000
Class B Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 185,461,000 185,461,000
Common stock, shares issued (in shares) 0 0
Common stock, shares outstanding (in shares) 0 0
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Income Statement [Abstract]        
Revenue $ 868,823 $ 674,018 $ 1,697,532 $ 1,297,617
Cost of revenue 288,078 218,392 560,595 427,806
Gross profit 580,745 455,626 1,136,937 869,811
Operating expenses:        
Sales and marketing 400,625 343,288 801,447 674,846
Research and development 437,660 313,996 848,454 591,408
General and administrative 97,763 83,749 190,911 162,202
Total operating expenses 936,048 741,033 1,840,812 1,428,456
Operating loss (355,303) (285,407) (703,875) (558,645)
Interest income 49,265 50,280 104,044 93,411
Other income (expense), net (7,946) 4,086 (29,248) 1,524
Loss before income taxes (313,984) (231,041) (629,079) (463,710)
Provision for (benefit from) income taxes 3,786 (3,721) 6,507 (10,326)
Net loss (317,770) (227,320) (635,586) (453,384)
Less: net loss attributable to noncontrolling interest (871) (453) (1,699) (890)
Net loss attributable to Snowflake Inc. $ (316,899) $ (226,867) $ (633,887) $ (452,494)
Net loss per share attributable to Class A common stockholders- basic (in dollars per share) $ (0.95) $ (0.69) $ (1.90) $ (1.39)
Net loss per share attributable to Class A common stockholders - diluted (in dollars per share) $ (0.95) $ (0.69) $ (1.90) $ (1.39)
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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Statement of Comprehensive Income [Abstract]        
Net loss $ (317,770) $ (227,320) $ (635,586) $ (453,384)
Other comprehensive income (loss):        
Net change in unrealized gains or losses on available-for-sale debt securities 10,304 (1,575) 2,883 5,869
Other 30 159 (42) 159
Total other comprehensive income (loss) 10,334 (1,416) 2,841 6,028
Comprehensive loss (307,436) (228,736) (632,745) (447,356)
Less: comprehensive loss attributable to noncontrolling interest (871) (453) (1,699) (890)
Comprehensive loss attributable to Snowflake Inc. $ (306,565) $ (228,283) $ (631,046) $ (446,466)
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CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Class A Common Stock
Total Snowflake Inc. Stockholders’ Equity
Common Stock
Class A Common Stock
Treasury Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
Noncontrolling Interest
Beginning balance (in shares) at Jan. 31, 2023       323,305          
Beginning balance at Jan. 31, 2023 $ 5,468,615   $ 5,456,436 $ 32 $ 0 $ 8,210,750 $ (38,272) $ (2,716,074) $ 12,179
Beginning balance, treasury stock (in shares) at Jan. 31, 2023         0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares)       4,856          
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          
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          
Shares withheld related to net share settlement of equity awards (in shares)       (1,189)          
Shares withheld related to net share settlement of equity awards (188,905)   (188,905)     (188,905)      
Repurchases of common stock (in shares)         (500)        
Repurchases of common stock as treasury stock (68,299)   (68,299)   $ (68,299)        
Repurchases and retirement of common stock (in shares)       (905)          
Repurchases and retirement of common stock (123,395)   (123,395)         (123,395)  
Stock-based compensation 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          
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)        
Beginning balance (in shares) at Apr. 30, 2023       326,312          
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)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares)       2,480          
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          
Shares withheld related to net share settlement of equity awards (in shares)       (551)          
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          
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)        
Beginning balance (in shares) at Jan. 31, 2024   334,453   334,453          
Beginning balance at Jan. 31, 2024 $ 5,190,594   5,180,308 $ 34 $ (67,140) 9,331,238 (8,220) (4,075,604) 10,286
Beginning balance, treasury stock (in shares) at Jan. 31, 2024 (492)       (492)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares) 1,379                
Ending balance (in shares) at Apr. 30, 2024       335,264          
Ending balance at Apr. 30, 2024 $ 4,567,692   4,558,234 $ 34 $ (63,958) 9,546,792 (15,713) (4,908,921) 9,458
Ending balance, treasury stock (in shares) at Apr. 30, 2024         (469)        
Beginning balance (in shares) at Jan. 31, 2024   334,453   334,453          
Beginning balance at Jan. 31, 2024 $ 5,190,594   5,180,308 $ 34 $ (67,140) 9,331,238 (8,220) (4,075,604) 10,286
Beginning balance, treasury stock (in shares) at Jan. 31, 2024 (492)       (492)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares)       3,186          
Issuance of common stock upon exercise of stock options $ 23,480   23,480     23,480      
Issuance of common stock under employee stock purchase plan (in shares)       346          
Issuance of common stock under employee stock purchase plan 46,735   46,735     46,735      
Issuance of common stock in connection with a business combination (in shares)       1          
Vesting of restricted stock units (in shares)       5,452          
Vesting of restricted stock units       $ 1   (1)      
Shares withheld related to net share settlement of equity awards (in shares)       (1,879)          
Shares withheld related to net share settlement of equity awards $ (275,965)   (275,965)     (275,965)      
Repurchases of common stock (in shares) (500)                
Repurchases and retirement of common stock (in shares)       (5,939)          
Repurchases and retirement of common stock $ (916,329)   (916,329) $ (1)       (916,328)  
Reissuance of treasury stock upon settlement of equity awards (in shares)         32        
Reissuance of treasury stock upon settlement of equity awards 83   83   $ 4,340 (4,257)      
Stock-based compensation 701,735   701,735     701,735      
Other comprehensive income (loss) 2,841   2,841       2,841    
Net loss (635,586)   (633,887)         (633,887) (1,699)
Ending balance (in shares) at Jul. 31, 2024   335,620   335,620          
Ending balance at Jul. 31, 2024 $ 4,137,588   4,129,001 $ 34 $ (62,800) 9,822,965 (5,379) (5,625,819) 8,587
Ending balance, treasury stock (in shares) at Jul. 31, 2024 (460)       (460)        
Beginning balance (in shares) at Apr. 30, 2024       335,264          
Beginning balance at Apr. 30, 2024 $ 4,567,692   4,558,234 $ 34 $ (63,958) 9,546,792 (15,713) (4,908,921) 9,458
Beginning balance, treasury stock (in shares) at Apr. 30, 2024         (469)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares) 1,816     1,816          
Issuance of common stock upon exercise of stock options $ 12,963   12,963     12,963      
Vesting of restricted stock units (in shares)       2,264          
Vesting of restricted stock units       $ 1   (1)      
Shares withheld related to net share settlement of equity awards (in shares)       (767)          
Shares withheld related to net share settlement of equity awards (98,881)   (98,881)     (98,881)      
Repurchases and retirement of common stock (in shares)       (2,957)          
Repurchases and retirement of common stock (400,000)   (400,000) $ (1)       (399,999)  
Reissuance of treasury stock upon settlement of equity awards (in shares)         9        
Reissuance of treasury stock upon settlement of equity awards 2   2   $ 1,158 (1,156)      
Stock-based compensation 363,248   363,248     363,248      
Other comprehensive income (loss) 10,334   10,334       10,334    
Net loss (317,770)   (316,899)         (316,899) (871)
Ending balance (in shares) at Jul. 31, 2024   335,620   335,620          
Ending balance at Jul. 31, 2024 $ 4,137,588   $ 4,129,001 $ 34 $ (62,800) $ 9,822,965 $ (5,379) $ (5,625,819) $ 8,587
Ending balance, treasury stock (in shares) at Jul. 31, 2024 (460)       (460)        
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Cash flows from operating activities:    
Net loss $ (635,586) $ (453,384)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 85,332 52,447
Non-cash operating lease costs 27,568 25,653
Amortization of deferred commissions 45,586 35,853
Stock-based compensation, net of amounts capitalized 687,936 564,231
Net accretion of discounts on investments (24,772) (32,992)
Net realized and unrealized losses (gains) on strategic investments in equity securities 27,203 (2,895)
Deferred income tax 49 (12,894)
Other 1,918 11,812
Changes in operating assets and liabilities, net of effects of business combinations:    
Accounts receivable 492,192 309,843
Deferred commissions (36,754) (40,992)
Prepaid expenses and other assets 33,347 46,916
Accounts payable 91,425 17,469
Accrued expenses and other liabilities 4,637 27,106
Operating lease liabilities (25,289) (16,023)
Deferred revenue (349,459) (149,515)
Net cash provided by operating activities 425,333 382,635
Cash flows from investing activities:    
Purchases of property and equipment (21,562) (13,268)
Capitalized internal-use software development costs (13,396) (17,215)
Cash paid for business combinations, net of cash, cash equivalents, and restricted cash acquired (8,906) (264,571)
Purchases of intangible assets 0 (27,480)
Purchases of investments (1,274,742) (1,725,964)
Sales of investments 40,797 7,266
Maturities and redemptions of investments 1,511,458 1,780,061
Settlement of cash flow hedges (749) 0
Net cash provided by (used in) investing activities 232,900 (261,171)
Cash flows from financing activities:    
Proceeds from exercise of stock options 23,664 31,519
Proceeds from issuance of common stock under employee stock purchase plan 46,735 37,065
Taxes paid related to net share settlement of equity awards (278,114) (182,710)
Repurchases of common stock (916,329) (191,694)
Net cash used in financing activities (1,124,044) (305,820)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1,909) 1,005
Net decrease in cash, cash equivalents, and restricted cash (467,720) (183,351)
Cash, cash equivalents, and restricted cash—beginning of period 1,780,977 956,731
Cash, cash equivalents, and restricted cash—end of period 1,313,257 773,380
Supplemental disclosures of non-cash investing and financing activities:    
Property and equipment included in accounts payable and accrued expenses 20,168 6,474
Stock-based compensation included in capitalized software development costs 17,141 24,622
Unpaid taxes related to net share settlement of equity awards included in accrued expenses and other current liabilities 4,719 6,249
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 1,282,045 755,192
Restricted cash—included in other assets and prepaid expenses and other current assets 31,212 18,188
Total cash, cash equivalents, and restricted cash $ 1,313,257 $ 773,380
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Organization and Description of Business
 6 Months Ended
Jul. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Description of Business Organization and Description of Business
Snowflake Inc. (Snowflake or the Company) provides a cloud-based data platform, which enables customers to consolidate data into a single source of truth to drive meaningful insights, apply AI to solve business problems, build data applications, and share data and data products. The Company provides its platform through a customer-centric, consumption-based business model, only charging customers for the resources they use. Through its platform, the Company delivers the AI Data Cloud, a network where Snowflake customers, partners, developers, data providers, and data consumers can break down data silos and derive value from rapidly growing data sets in secure, governed, and compliant ways. Snowflake was incorporated in the State of Delaware on July 23, 2012.
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Basis of Presentation and Summary of Significant Accounting Policies
 6 Months Ended
Jul. 31, 2024
Accounting Policies [Abstract]  
Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies
Fiscal Year

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

Basis of Presentation

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

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

Principles of Consolidation

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

Segment Information

The Company has a single operating and reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. For information regarding the Company’s revenue by geographic area, see Note 3, “Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations.”
The following table presents the Company’s long-lived assets, comprising property and equipment, net and operating lease right-of-use assets, by geographic area (in thousands):
July 31, 2024January 31, 2024
United States$418,999 $379,664 
Other(1)
118,238 119,928 
Total$537,237 $499,592 
________________
(1)No individual country outside of the United States accounted for more than 10% of the Company’s long-lived assets as of July 31, 2024 and January 31, 2024.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Such estimates include, but are not limited to, stand-alone selling prices (SSP) for each distinct performance obligation, internal-use software development costs, the expected period of benefit for deferred commissions, the fair value of intangible assets acquired in business combinations, the useful lives of long-lived assets, the carrying value of operating lease right-of-use assets, stock-based compensation, accounting for income taxes, and the fair value of investments in marketable and non-marketable securities.

The Company bases its estimates on historical experience and also on assumptions that management considers reasonable. These estimates are assessed on a regular basis; however, actual results could differ from these estimates.

Summary of Significant Accounting Policies

The Company’s significant accounting policies are discussed in “Note 2 – Basis of Presentation and Summary of Significant Accounting Policies” of the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2024, which was filed with the SEC on March 26, 2024. During the six months ended July 31, 2024, the Company updated its revenue recognition accounting policy, as described below. This update was made due to the developments in the Company’s business in connection with a new product capability that became generally available to customers during the three months ended July 31, 2024. Other than this update, there have been no significant changes to the Company’s accounting policies.

Revenue Recognition

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

The Company delivers its platform over the internet as a service. Customers choose to consume the platform under either capacity arrangements, in which customers commit to a certain amount of consumption at specified prices, or under on-demand arrangements, in which the Company charges for use of the platform monthly in arrears. Under capacity arrangements, from which a majority of revenue is derived, the Company typically bills its customers annually in advance of their consumption. Revenue from on-demand arrangements typically relates to customers with lower usage levels or overage consumption beyond a customer’s contracted usage amount under a capacity contract or following the expiration of a customer’s capacity contract. Revenue from on-demand arrangements represented approximately 2% of our revenue for each of the three and six months ended July 31, 2024 and 2023. The Company recognizes revenue as customers consume compute, storage, and data transfer resources under either of these arrangements. In limited instances, customers pay an annual deployment fee to gain access to a dedicated instance of a virtual private deployment. Deployment fees are recognized ratably over the contract term.

Customers do not have the contractual right to take possession of the Company’s platform. Pricing for the platform includes embedded support services, data backup and disaster recovery services, as well as future updates, when and if available, offered during the contract term.
Customer contracts for capacity typically have a term of one to four years. To the extent customers enter into such contracts and either consume the platform in excess of their capacity commitments or continue to use the platform after expiration of the contract term, they are charged for their incremental consumption. In many cases, customer contracts permit customers to roll over any unused capacity to a subsequent order, generally on the purchase of additional capacity.

Customer contracts are generally non-cancelable during the contract term, although customers can terminate for breach if the Company materially fails to perform. For those customers who do not have a capacity arrangement, the Company’s on-demand arrangements generally have a monthly stated contract term and can be terminated at any time by either the customer or the Company.

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

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

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

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

2) Identify the performance obligations in the contract. Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract.

Prior to June 2024, the Company treated consumption of its platform for compute, storage, and data transfer resources as a single performance obligation because they were consumed by customers as a single, integrated offering. Each of compute, storage and data transfer worked together to drive consumption on the Company’s platform.

In June 2024, the Company made Iceberg tables generally available to its customers, enabling them to use the Snowflake platform for compute services without requiring storage. As a result, starting from June 2024, customers are allowed to select compute, storage, and data transfer resources separately, at their discretion. Consequently, the Company treats the consumption of its platform for compute, storage, and data transfer resources as separate and distinct performance obligations. This change did not have a material impact on the Company’s condensed consolidated financial statements for any period presented.

The Company treats its virtual private deployments for customers, professional services, technical solution services, and training each as a separate and distinct performance obligation. Some customers have negotiated an option to purchase additional capacity at a stated discount. These options generally do not provide a material right as they are priced at the Company’s SSP, as described below, as the stated discounts are not incremental to the range of discounts typically given.
3) Determine the transaction price. The transaction price is determined based on the consideration the Company expects to receive in exchange for transferring services to the customer. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue recognized under the contract will not occur. Variable consideration is estimated based on expected value, primarily relying on the Company’s history. In certain situations, the Company may also use the most likely amount as the basis of its estimate. None of the Company’s contracts contain a significant financing component. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental entities (e.g., sales and other indirect taxes).

4) Allocate the transaction price to performance obligations in the contract. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation on a relative SSP basis. The determination of a relative SSP for each distinct performance obligation requires judgment. The Company determines SSP for performance obligations based on an observable standalone selling price when it is available, as well as other factors, including the overall pricing objectives, which take into consideration market conditions and customer-specific factors, including a review of internal discounting tables, the services being sold, the volume of capacity commitments, the estimated mix of compute, storage, and data transfer, and other factors. The observable standalone selling price is established based on the price at which products and services are sold separately. If an SSP is not observable through past transactions, the Company estimates it using available information including, but not limited to, market data and other observable inputs.

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

Recently Issued Accounting Pronouncements Not Yet Adopted

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit and loss, and an amount for other segment items by reportable segment and a description of its composition. This guidance also requires disclosures on the title and position of the chief operating decision maker and an explanation of how the chief operating decision maker uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources, and interim disclosures of reportable segment’s profit or loss and assets. This guidance is effective for the Company for its fiscal year beginning February 1, 2024 and interim periods within its fiscal year beginning February 1, 2025 on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its condensed consolidated financial statements and disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires annual disclosure on disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. This guidance is effective for the Company for its fiscal year beginning February 1, 2025 on a prospective basis. Early adoption and retrospective application are permitted. The Company is currently evaluating the impact of the adoption of this guidance on its condensed consolidated financial statements and disclosures.
v3.24.2.u1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
 6 Months Ended
Jul. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
Disaggregation of Revenue

Revenue consists of the following (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2024202320242023
Product revenue$829,250 $640,209 $1,618,837 $1,230,281 
Professional services and other revenue39,573 33,809 78,695 67,336 
Total$868,823 $674,018 $1,697,532 $1,297,617 

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,
2024202320242023
Americas:
United States$663,630 $516,367 $1,295,671 $999,356 
Other Americas(1)
22,777 17,842 46,512 34,698 
EMEA(1)(2)
137,872 106,284 269,529 201,174 
Asia-Pacific and Japan(1)
44,544 33,525 85,820 62,389 
Total$868,823 $674,018 $1,697,532 $1,297,617 
________________
(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, 2024 and January 31, 2024, allowance for credit losses of $4.6 million and $2.5 million, respectively, was included in the Company’s accounts receivable, net balance.

Significant Customers

For purposes of assessing the concentration of credit risk and significant customers, a group of customers under common control or customers that are affiliates of each other are regarded as a single customer. As of July 31, 2024 and January 31, 2024, there were no customers that represented 10% or more of the Company’s accounts receivable, net balance. Additionally, there were no customers that represented 10% or more of the Company’s revenue for each of the three and six months ended July 31, 2024 and 2023.

Deferred Revenue

The Company recognized $642.7 million and $524.0 million of revenue for the three months ended July 31, 2024 and 2023, respectively, from the deferred revenue balances as of April 30, 2024 and 2023, respectively.

The Company recognized $1.2 billion and $896.4 million of revenue for the six months ended July 31, 2024 and 2023, respectively, from the deferred revenue balances as of January 31, 2024 and 2023, respectively.

Remaining Performance Obligations

Remaining performance obligations (RPO) represent the amount of contracted future revenue that has not yet been recognized, including (i) deferred revenue and (ii) non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. The Company’s RPO excludes performance obligations from on-demand arrangements as there are no minimum purchase commitments associated with these arrangements, and certain time and materials contracts that are billed in arrears. Portions of RPO that are not yet invoiced and are denominated in foreign currencies are revalued into U.S. dollars each period based on the applicable period-end exchange rates.
As of July 31, 2024, the Company’s RPO was $5.2 billion, of which the Company expects approximately 50% to be recognized as revenue in the twelve months ending July 31, 2025 based on historical customer consumption patterns. However, the amount and timing of revenue recognition are generally dependent upon customers’ future consumption, which is inherently variable at customers’ discretion and can extend beyond the original contract term in cases where customers are permitted to roll over unused capacity to future periods, generally on the purchase of additional capacity at renewal.
v3.24.2.u1
Cash Equivalents and Investments
 6 Months Ended
Jul. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Investments Cash Equivalents and Investments
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

July 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$636,041 $— $— $636,041 
U.S. government securities276,147 — (2)276,145 
Time deposits65,287 — — 65,287 
Commercial paper2,348 — — 2,348 
Total cash equivalents979,823 — (2)979,821 
Investments:
Corporate notes and bonds1,274,237 1,525 (1,682)1,274,080 
U.S. government and agency securities672,427 346 (2,427)670,346 
Commercial paper443,345 40 (226)443,159 
Certificates of deposit258,208 108 (33)258,283 
Total investments2,648,217 2,019 (4,368)2,645,868 
Total cash equivalents and investments$3,628,040 $2,019 $(4,370)$3,625,689 

January 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
U.S. government securities$742,235 $1 $(2)$742,234 
Money market funds533,211 — — 533,211 
Time deposits56,263 — — 56,263 
Total cash equivalents1,331,709 1 (2)1,331,708 
Investments:
Corporate notes and bonds1,549,151 1,959 (3,394)1,547,716 
U.S. government and agency securities877,496 574 (4,653)873,417 
Commercial paper353,525 154 (131)353,548 
Certificates of deposit224,869 271 (15)225,125 
Total investments3,005,041 2,958 (8,193)2,999,806 
Total cash equivalents and investments$4,336,750 $2,959 $(8,195)$4,331,514 

The Company included $21.2 million and $24.2 million of interest receivable in prepaid expenses and other current assets on the condensed consolidated balance sheets as of July 31, 2024 and January 31, 2024, respectively. The Company did not recognize an allowance for credit losses against interest receivable as of July 31, 2024 and January 31, 2024 because such potential losses were not material.
As of July 31, 2024, the contractual maturities of the Company’s available-for-sale marketable debt securities did not exceed 36 months. The estimated fair values of available-for-sale marketable debt securities, classified as short-term or long-term investments on the Company’s condensed consolidated balance sheets, by remaining contractual maturity, are as follows (in thousands):

July 31, 2024
Estimated
Fair Value
Due within 1 year$1,948,462 
Due in 1 year to 3 years697,406 
Total$2,645,868 

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, 2024
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
U.S. government securities$179,497 $(2)$— $— $179,497 $(2)
Commercial paper2,348 — — — 2,348 — 
Total cash equivalents181,845 (2)— — 181,845 (2)
Investments:
Corporate notes and bonds527,359 (807)276,449 (875)803,808 (1,682)
U.S. government and agency securities122,169 (174)333,091 (2,253)455,260 (2,427)
Commercial paper316,822 (226)— — 316,822 (226)
Certificates of deposit45,260 (33)— — 45,260 (33)
Total investments1,011,610 (1,240)609,540 (3,128)1,621,150 (4,368)
Total cash equivalents and investments$1,193,455 $(1,242)$609,540 $(3,128)$1,802,995 $(4,370)
January 31, 2024
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
U.S. government securities$338,893 $(2)$— $— $338,893 $(2)
Total cash equivalents338,893 (2)— — 338,893 (2)
Investments:
Corporate notes and bonds625,766 (1,259)321,952 (2,135)947,718 (3,394)
U.S. government and agency securities525,408 (1,323)191,863 (3,330)717,271 (4,653)
Commercial paper172,422 (131)— — 172,422 (131)
Certificates of deposit71,813 (15)— — 71,813 (15)
Total investments1,395,409 (2,728)513,815 (5,465)1,909,224 (8,193)
Total cash equivalents and investments$1,734,302 $(2,730)$513,815 $(5,465)$2,248,117 $(8,195)

For available-for-sale marketable debt securities with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis. The decline in fair values of these securities due to credit related factors was not material as of July 31, 2024 and January 31, 2024.

See Note 5, “Fair Value Measurements,” for information regarding the Company’s strategic investments.
v3.24.2.u1
Fair Value Measurements
 6 Months Ended
Jul. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

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

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

Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of July 31, 2024 (in thousands):

Level 1
Level 2
Total
Assets:
Cash equivalents:
Money market funds$636,041 $— $636,041 
U.S. government securities— 276,145 276,145 
Time deposits— 65,287 65,287 
Commercial paper— 2,348 2,348 
Short-term investments:
Corporate notes and bonds— 770,287 770,287 
U.S. government and agency securities— 488,432 488,432 
Commercial paper— 443,159 443,159 
Certificates of deposit— 246,584 246,584 
Long-term investments:
Corporate notes and bonds— 503,793 503,793 
U.S. government and agency securities— 181,914 181,914 
Certificates of deposit— 11,699 11,699 
Derivative assets:
Foreign currency forward contracts— 1,075 1,075 
Total assets$636,041 $2,990,723 $3,626,764 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts$— $(565)$(565)
Total liabilities
$— $(565)$(565)
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of January 31, 2024 (in thousands):

Level 1
Level 2
Total
Assets:
Cash equivalents:
U.S. government securities$— $742,234 $742,234 
Money market funds533,211 — 533,211 
Time deposits— 56,263 56,263 
Short-term investments:
Corporate notes and bonds— 939,727 939,727 
U.S. government and agency securities— 573,780 573,780 
Commercial paper— 353,548 353,548 
Certificates of deposit— 216,444 216,444 
Long-term investments:
Corporate notes and bonds— 607,989 607,989 
U.S. government and agency securities— 299,637 299,637 
Certificates of deposit— 8,681 8,681 
Derivative assets:
Foreign currency forward contracts— 60 60 
Total assets$533,211 $3,798,363 $4,331,574 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts$— $(745)$(745)
Total liabilities
$— $(745)$(745)

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

Strategic Investments

The tables above do not include the Company’s strategic investments, which consist primarily of (i) non-marketable equity securities recorded at cost minus impairment, if any, and adjusted for observable transactions for the same or similar investments of the same issuer (referred to as the Measurement Alternative), and (ii) marketable equity securities.

The Company’s non-marketable equity securities accounted for using the Measurement Alternative are recorded at fair value on a non-recurring basis and classified within Level 3 of the fair value hierarchy because significant unobservable inputs or data in an inactive market are used in estimating their fair value. The estimation of fair value for these assets requires the use of an observable transaction price or other unobservable inputs, including the volatility, rights, and obligations of the securities the Company holds. The Company’s marketable equity securities are recorded at fair value on a recurring basis and classified within Level 1 of the fair value hierarchy because they are valued using the quoted market price.
The following table presents the Company’s strategic investments by type (in thousands):

July 31, 2024January 31, 2024
Equity securities:
Non-marketable equity securities under Measurement Alternative$295,506 $190,238 
Non-marketable equity securities under equity method5,436 5,307 
Marketable equity securities13,255 37,320 
Debt securities:
Non-marketable debt securities1,750 1,500 
Total strategic investments—included in other assets$315,947 $234,365 

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

Three Months Ended July 31,Six Months Ended July 31,
2024202320242023
Unrealized losses on non-marketable equity securities under Measurement Alternative:
Impairments$(7,158)$(2,101)$(25,911)$(2,101)
Net unrealized gains (losses) on marketable equity securities
650 7,410 (3,005)4,996 
Net unrealized gains (losses) on strategic investments in equity securities
(6,508)5,309 (28,916)2,895 
Net realized gains on marketable equity securities sold(1)
— — 1,713 — 
Total—included in other income (expense), net
$(6,508)$5,309 $(27,203)$2,895 
________________
(1)Represents the difference between the sale proceeds and the carrying value of the securities at the beginning of the period or the purchase date, if later.

The cumulative upward adjustments and the cumulative impairments to the carrying value of the non-marketable equity securities accounted for using the Measurement Alternative held by the Company as of July 31, 2024 were $37.1 million and $67.0 million, respectively.
v3.24.2.u1
Property and Equipment, Net
 6 Months Ended
Jul. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

July 31, 2024January 31, 2024
Leasehold improvements$96,573 $67,804 
Computers, equipment, and software46,586 29,859 
Furniture and fixtures24,211 17,593 
Capitalized internal-use software development costs176,321 93,222 
Construction in progress—capitalized internal-use software development costs24,671 78,737 
Construction in progress—other3,926 34,890 
Total property and equipment, gross372,288 322,105 
Less: accumulated depreciation and amortization(1)
(107,510)(74,641)
Total property and equipment, net$264,778 $247,464 
________________
(1)Includes $52.7 million and $30.0 million of accumulated amortization related to capitalized internal-use software development costs as of July 31, 2024 and January 31, 2024, respectively.

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

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. No impairment charge was recognized during the six months ended July 31, 2024.
v3.24.2.u1
Business Combinations
 6 Months Ended
Jul. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Business Combinations Business Combinations
Fiscal 2025

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

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

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

From the date of acquisition through July 31, 2024, revenue attributable to this acquired company, included in the Company’s condensed consolidated statements of operations for the three and six months ended July 31, 2024 was not material. It was impracticable to determine the effect on the Company’s net loss attributable to this acquired company as its operation has been integrated into the Company’s ongoing operations since the date of acquisition.
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 $185.4 million in cash. The Company acquired Neeva primarily for its talent and developed technology. The Company has accounted for this transaction as a business combination.

The purchase consideration was preliminarily allocated to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition. During each of the three months ended July 31, 2024 and January 31, 2024, the Company recorded measurement period adjustments which did not have material impacts on goodwill. 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$43,968 
Goodwill62,931 
Developed technology intangible assets83,000 
5
Other net tangible liabilities(759)
Deferred tax liabilities, net(1)
(3,713)
Total$185,427 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.

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

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

Mountain US Corporation (formerly known as Mobilize.Net Corporation)

On February 10, 2023, the Company acquired all outstanding stock of Mountain US Corporation (formerly known as Mobilize.Net Corporation) (Mountain), a privately-held company which provided a suite of tools for efficiently migrating databases to the AI Data Cloud, for $76.3 million in cash. The Company acquired Mountain primarily for its talent and developed technology. The Company has accounted for this transaction as a business combination.
The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective estimated fair values. The allocation of purchase consideration, inclusive of measurement period adjustments, was as follows:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents$11,594 
Goodwill46,426 
Developed technology intangible asset33,000 
5
Other net tangible liabilities(6,623)
Deferred tax liabilities, net(1)
(8,136)
Total$76,261 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.

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

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

LeapYear Technologies, Inc.

On February 10, 2023, the Company acquired all outstanding stock of LeapYear Technologies, Inc. (LeapYear), a privately-held company which provided a differential privacy platform, for $62.0 million in cash. The Company acquired LeapYear primarily for its talent and developed technology. The Company has accounted for this transaction as a business combination.

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

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash, cash equivalents, and restricted cash$3,563 
Goodwill9,029 
Developed technology intangible asset53,000 
5
Other net tangible liabilities(1,434)
Deferred tax liabilities, net(1)
(2,150)
Total$62,008 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.

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

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

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 for the Mountain, LeapYear, and fiscal 2025 business combinations has not been presented, as the effects of each were not material to the Company’s condensed consolidated financial statements.
v3.24.2.u1
Intangible Assets and Goodwill
 6 Months Ended
Jul. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
Intangible Assets, Net

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

July 31, 2024
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$242,296 $(68,216)$174,080 
Developer community154,900 (70,872)84,028 
Assembled workforce55,732 (29,899)25,833 
Patents8,874 (7,103)1,771 
Total finite-lived intangible assets$461,802 $(176,090)$285,712 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$286,538 
January 31, 2024
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$243,596 $(47,919)$195,677 
Developer community154,900 (55,442)99,458 
Assembled workforce55,732 (22,945)32,787 
Patents8,874 (6,211)2,663 
Total finite-lived intangible assets$463,102 $(132,517)$330,585 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$331,411 

During the three and six months ended July 31, 2024, the cost and accumulated amortization of a fully amortized intangible asset were removed from the Company’s condensed consolidated balance sheet, as the asset was no longer in use.

Amortization expense of intangible assets was $23.9 million and $47.3 million for the three and six months ended July 31, 2024, respectively, and $20.8 million and $36.4 million for the three and six months ended July 31, 2023, respectively.

As of July 31, 2024, future amortization expense is expected to be as follows (in thousands):

Amount
Fiscal Year Ending January 31,
Remainder of 2025$47,759 
202689,013 
202784,860 
202852,295 
202911,633 
Thereafter152 
Total$285,712 
Goodwill

Changes in goodwill were as follows (in thousands):

Amount
Balance—January 31, 2024
$975,906 
Additions and measurement period adjustments(1)
8,170 
Balance—July 31, 2024
$984,076 
________________
(1)Includes measurement period adjustments related to the preliminary fair values of the assets acquired and liabilities assumed in business combinations. These adjustments did not have a material impact on goodwill. See Note 7, “Business Combinations,” for further details.
v3.24.2.u1
Accrued Expenses and Other Current Liabilities
 6 Months Ended
Jul. 31, 2024
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):

July 31, 2024January 31, 2024
Accrued compensation$206,486 $205,056 
Accrued third-party cloud infrastructure expenses63,087 48,571 
Liabilities associated with sales, marketing and business development programs37,836 39,571 
Employee contributions under employee stock purchase plan37,502 40,641 
Accrued taxes17,446 37,108 
Accrued purchases of property and equipment10,456 4,508 
Employee payroll tax withheld on employee stock transactions10,224 22,479 
Accrued professional services8,709 9,274 
Other57,180 39,652 
Total accrued expenses and other current liabilities$448,926 $446,860 
v3.24.2.u1
Commitments and Contingencies
 6 Months Ended
Jul. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Operating Leases—The Company leases its facilities for office space under non-cancelable operating leases with various expiration dates through fiscal 2039. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments.

In May 2024, the Company entered into a lease agreement for a new office facility located in the United States with a total commitment of $95.6 million, net of tenant incentives to be received. The lease commenced during the three months ended July 31, 2024, with an expiration date in fiscal 2039, and resulted in an increase of $35.2 million and $38.3 million in the Company’s operating lease right-of-use assets and operating lease liabilities, respectively.

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 $1.9 million and $4.3 million for the three and six months ended July 31, 2024, respectively, and $3.1 million and $6.2 million for the three and six months ended July 31, 2023, 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. There were no material contractual obligations that were entered into during the six months ended July 31, 2024 that were outside the ordinary course of business.

401(k) Plan—The Company sponsors a 401(k) defined contribution plan covering all eligible U.S. employees. Contributions to the 401(k) plan are discretionary. The Company did not make any matching contributions to the 401(k) plan for each of the three and six months ended July 31, 2024 and 2023.

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

The Company is appealing the ruling to the Board of the NLRB. The Company believes it is reasonably possible that a loss could ultimately result from an unfavorable outcome and that an estimate of the potential range of loss is between zero and $25 million, plus interest. No material loss accrual was recorded as of July 31, 2024 and January 31, 2024, because management believes the likelihood of material loss resulting from this charge is not probable given the further appellate proceedings that are due to take place.
In addition, the Company is involved from time to time in various claims and legal actions arising in the ordinary course of business. While it is not feasible to predict or determine the ultimate outcome of these matters, the Company believes that none of its current legal proceedings will have a material adverse effect on its financial position, results of operations, or cash flows.

Letters of Credit—As of July 31, 2024, the Company had a total of $17.5 million in cash collateralized letters of credit outstanding, substantially in favor of certain landlords for the Company’s leased facilities. These letters of credit renew annually and expire at various dates through fiscal 2033.

Indemnification—The Company enters into indemnification provisions under agreements with other parties in the ordinary course of business, including business partners, investors, contractors, customers, and the Company’s officers, non-employee directors, and certain employees. The Company has agreed to indemnify and defend the indemnified party for claims and related losses suffered or incurred by the indemnified party from actual or threatened third-party claims due to the Company’s activities or non-compliance with certain representations and warranties made by the Company. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. For each of the three and six months ended July 31, 2024 and 2023, losses recorded in the condensed consolidated statements of operations in connection with the indemnification provisions were not material.
v3.24.2.u1
Equity
 6 Months Ended
Jul. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Equity Equity
Common Stock—The Company had reserved shares of common stock for future issuance as follows (in thousands):

July 31, 2024January 31, 2024
2012 Equity Incentive Plan:
Options outstanding23,480 26,767 
Restricted stock units outstanding123 789 
2020 Equity Incentive Plan:
Options outstanding1,617 602 
Restricted stock units outstanding22,309 20,168 
Shares available for future grants70,086 59,371 
2020 Employee Stock Purchase Plan:
Shares available for future grants16,759 13,764 
Total shares of common stock reserved for future issuance134,374 121,461 

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

Three Months Ended July 31,Six Months Ended July 31,
2024202320242023
Number of shares repurchased2,957 — 5,939 1,405 
Weighted-average price per share(1)
$135.29 $— $154.30 $136.39 
Aggregate purchase price(1)
$400,000 $— $916,329 $191,694 
________________
(1)Includes transaction costs associated with the repurchases.
As of July 31, 2024, $491.9 million remained available for future stock repurchases under the stock repurchase program, which does not take into account the additional $2.5 billion of repurchase amount authorized in August 2024. 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 shares of Class A common stock subsequently repurchased were retired. Upon retirement, the par value of the common stock repurchased was deducted from common stock and any excess of repurchase price (including associated transaction costs) over par value was recorded entirely to retained earnings (accumulated deficit) on the condensed consolidated balance sheets.

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

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

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

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

Stock Options—Stock options granted under the 2012 Plan and the 2020 Plan (collectively, the Plans) generally vest based on continued service over four years and expire ten years from the date of grant. Certain stock options granted under the 2012 Plan are exercisable at any time following the date of grant and expire ten years from the date of grant.
A summary of stock option activity during the six months ended July 31, 2024 is as follows:

Number of Shares
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic Value
(in thousands)
Balance—January 31, 2024
27,369 $12.35 5.0$5,023,664 
Granted960 $163.04 
Exercised(1,379)$7.69 
Canceled(92)$3.75 
Balance—April 30, 2024
26,858 $18.01 4.8$3,723,873 
Granted77 $164.78 
Exercised(1,816)$7.14 
Canceled(22)$207.56 
Balance—July 31, 2024
25,097 $19.07 4.6$2,872,192 
Vested and exercisable as of July 31, 2024
23,914 $11.52 4.5$2,872,130 

The weighted-average grant-date fair value of options granted during the six months ended July 31, 2024 was $79.16 per share. No options were granted during the six months ended July 31, 2023. The intrinsic value of options exercised in the six months ended July 31, 2024 and 2023 was $467.8 million and $736.7 million, respectively. The aggregate grant-date fair value of options that vested during the six months ended July 31, 2024 and 2023 was $15.8 million and $28.3 million, respectively.

Equity-Classified RSUs—RSUs granted under the 2012 Plan are equity-classified and had both service-based and performance-based vesting conditions, of which the performance-based vesting condition was satisfied upon the effectiveness of the IPO in September 2020. The service-based vesting condition for these awards is typically satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. Stock-based compensation associated with RSUs granted under the 2012 Plan was recognized using an accelerated attribution method from the time it was deemed probable that the vesting condition was met through the time the service-based vesting condition had been achieved.

Equity-classified RSUs granted under the 2020 Plan include those that only contain a service-based vesting condition that is typically satisfied over four years, and the related stock-based compensation for these RSUs is recognized on a straight-line basis over the requisite service period. In addition, under the 2020 Plan, the Company granted 0.8 million and 0.5 million equity-classified RSUs (Leadership PRSUs) to its executive officers and certain other members of its senior leadership team during the six months ended July 31, 2024 and 2023, respectively. These Leadership PRSUs were granted at 120% of the target number of these awards, representing the maximum number of Leadership PRSUs that may be eligible to vest over their full term, and have both service-based and performance-based vesting conditions. The service-based vesting condition for these Leadership PRSUs is typically satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. The performance-based vesting condition is satisfied upon the achievement of certain Company annual performance targets set by the compensation committee of the board of directors of the Company. The ultimate number of the Leadership PRSUs eligible to vest ranges between 0% to 120% of the target number of the Leadership PRSUs based on the weighted-average achievement of such Company annual performance metrics for the respective fiscal year. Stock-based compensation associated with these Leadership PRSUs is recognized using an accelerated attribution method over the requisite service period, based on the Company’s periodic assessment of the probability that the performance condition will be achieved. Stock-based compensation recognized for these Leadership PRSUs was $8.7 million and $21.2 million for the three and six months ended July 31, 2024, respectively, and $6.3 million and $10.1 million for the three and six months ended July 31, 2023, respectively.
A summary of equity-classified RSUs activity during the six months ended July 31, 2024 is as follows:

Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2024
19,575 $169.82 
Granted
5,869 $167.74 
Vested(3,202)$162.47 
Forfeited(533)$168.85 
Performance adjustment(1)
(50)$139.58 
Unvested Balance—April 30, 2024
21,659 $170.44 
Granted
2,408 $141.61 
Vested(2,272)$172.52 
Forfeited
(748)$167.94 
Unvested Balance—July 31, 2024
21,047 $167.01 
________________
(1)Represents an adjustment in the number of shares outstanding, with regards to Leadership PRSUs granted during the six months ended July 31, 2023, based on the actual achievement of the associated Company annual performance targets for fiscal 2024.

Liability-Classified RSUs—During the fourth quarter of fiscal 2024, in connection with a business combination, the Company agreed to grant, under the 2020 Plan, RSUs that contain both post-combination service-based and performance-based vesting conditions (Acquisition PRSUs) to eligible existing or future employees, subject to a maximum total number of approximately 1.7 million shares. The post-combination service-based vesting condition for these Acquisition PRSUs is satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. The performance-based vesting condition is contingent on the achievement of certain performance metric over the twelve-month period ending January 31, 2027. Acquisition PRSUs will vest when both service-based and performance-based conditions are satisfied. The ultimate number of Acquisition PRSUs eligible to vest is determined based on the actual achievement of the performance metric, which takes into account certain factors including the Company’s stock price and market capitalization.

Once granted, Acquisition PRSUs are initially liability-classified and recorded in other liabilities on the Company’s condensed consolidated balance sheets, as the monetary value of the obligation under each potential outcome of the performance condition is predominantly based on a fixed monetary amount known at inception and will be settled in a variable number of shares. Subsequently, these awards are remeasured to the fair value at each reporting date until the number of Acquisition PRSUs eligible to vest is fixed, at which time these awards will be reclassified to equity. Stock-based compensation associated with these awards is recognized based on the probable outcome of the performance condition, using an accelerated attribution method over the requisite service period, with a cumulative catch-up adjustment recognized for changes in the fair value estimated at each reporting date. As of July 31, 2024 and January 31, 2024, the liabilities associated with these Acquisition PRSUs were $3.8 million and $0.5 million, respectively. Stock-based compensation recognized for these Acquisition PRSUs was not material for each of the three and six months ended July 31, 2024.

A summary of liability-classified RSUs activity during the six months ended July 31, 2024 is as follows:

Number of Shares
(in thousands)
Unvested Balance—January 31, 2024 and April 30, 2024
1,382 
Granted(1)
3 
Unvested Balance—July 31, 2024
1,385 
________________
(1)Represents the maximum number of Acquisition PRSUs that may be eligible to vest with respect to these awards over their full term.

Restricted Common Stock—From time to time, the Company has granted restricted common stock outside of the Plans. Restricted common stock is not deemed to be outstanding for accounting purposes until it vests.
A summary of restricted common stock activity during the six months ended July 31, 2024 is as follows:

Outside of the Plans
Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2024
671 $209.15 
Vested(146)$223.42 
Unvested Balance—April 30, 2024
525 $205.15 
Vested(25)$194.28 
Unvested Balance—July 31, 2024
500 $205.68 

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

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

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

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

The following table summarizes the assumptions used in estimating the fair value of employee stock purchase rights granted under the 2020 ESPP during the six months ended July 31, 2024 and 2023:

Six Months Ended July 31,
20242023
Expected term (in years)0.50.5
Expected volatility49.6 %71.3 %
Risk-free interest rate5.4 %4.7 %
Expected dividend yield— %— %

No employee stock purchase rights were granted during each of the three months ended July 31, 2024 and 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. The expected term for employee stock purchase rights granted under the 2020 ESPP (ESPP Rights) approximates the offering period.

Expected volatility—In fiscal 2023 and 2024, the Company used the average volatility of its Class A common stock and the stocks of a peer group of representative public companies to develop an expected volatility assumption. During the six months ended July 31, 2024, the Company began using the average of (i) the historical volatility of its Class A common stock, and (ii) the implied volatility from publicly traded options on its Class A common stock to develop an expected volatility assumption.

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

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

The following table summarizes the assumptions used in estimating the fair value of liability-classified Acquisition PRSUs as of July 31, 2024 and January 31, 2024:

July 31, 2024January 31, 2024
Expected volatility58.0 %60.0 %
Risk-free interest rate4.2 %4.0 %

Expected volatility—In fiscal 2024, expected volatility was estimated based on the historical volatility of the Company’s Class A common stock. During the six months ended July 31, 2024, the Company began using the average of (i) the historical volatility of its Class A common stock, and (ii) the implied volatility from publicly traded options on its Class A common stock to develop an expected volatility assumption.

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

Stock-based compensation included in the condensed consolidated statements of operations was as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2024202320242023
Cost of revenue$34,815 $32,302 $67,223 $62,764 
Sales and marketing80,676 78,838 154,083 151,133 
Research and development204,917 163,005 399,589 299,422 
General and administrative35,592 25,577 67,041 50,912 
Stock-based compensation, net of amounts capitalized356,000 299,722 687,936 564,231 
Capitalized stock-based compensation7,846 12,903 17,141 24,622 
Total stock-based compensation$363,846 $312,625 $705,077 $588,853 

As of July 31, 2024, total compensation cost related to unvested awards not yet recognized was $3.4 billion, which will be recognized over a weighted-average period of 2.9 years.
v3.24.2.u1
Income Taxes
 6 Months Ended
Jul. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company computes its tax provision for interim periods by applying the estimated annual effective tax rate to year-to-date pre-tax income from recurring operations and adjusting for discrete tax items arising in that quarter.

The Company had an effective tax rate of (1.2%) and (1.0%) for the three and six months ended July 31, 2024, respectively, and 1.6% and 2.2% for the three and six months ended July 31, 2023, respectively. The Company has incurred U.S. operating losses and has minimal profits in foreign jurisdictions.

The Company has evaluated all available evidence, both positive and negative, including historical levels of income and expectations and risks associated with estimates of future taxable income, and has determined that it is more likely than not that its net deferred tax assets will not be realized in the United States and the United Kingdom. Due to uncertainties surrounding the realization of the deferred tax assets, the Company maintains a full valuation allowance against its net deferred tax assets.
The Company is subject to income taxes in the United States and numerous foreign jurisdictions. As of July 31, 2024, tax years 2012 and forward generally remain open for examination for U.S. federal and state tax purposes, and tax years 2019 and forward generally remain open for examination for foreign tax purposes.

The Company has applied ASC 740 and determined that it has uncertain tax positions giving rise to unrecognized tax benefits for each of the three and six months ended July 31, 2024 and 2023. The Company’s policy is to recognize interest and penalties related to uncertain tax positions in income tax expense. The Company does not anticipate any significant changes to unrecognized tax benefits over the next 12 months. None of the unrecognized tax benefits are currently expected to impact the Company’s effective tax rate, if realized, as a result of the full valuation allowance.

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (the Inflation Act) into law. The Inflation Act contains certain tax measures, including a corporate alternative minimum tax of 15% on some large corporations and an excise tax of 1% on stock repurchases. For the three and six months ended July 31, 2024, the Inflation Act had no material impact to the Company, including its stock repurchase program. The Company is continuing to evaluate the various provisions of the Inflation Act and does not anticipate the impact, if any, will be material to the Company.
v3.24.2.u1
Net Loss per Share
 6 Months Ended
Jul. 31, 2024
Earnings Per Share [Abstract]  
Net Loss per Share Net Loss per Share
Basic and diluted net loss per share attributable to Snowflake Inc. Class A common stockholders is computed in conformity with the two-class method required for participating securities. The Company considers unvested common stock to be participating securities, as the holders of such stock have the right to receive nonforfeitable dividends on a pari passu basis in the event that a dividend is declared on common stock.

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

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

Three Months Ended July 31,Six Months Ended July 31,
2024202320242023
Numerator:
Net loss$(317,770)$(227,320)$(635,586)$(453,384)
Less: net loss attributable to noncontrolling interest(871)(453)(1,699)(890)
Net loss attributable to Snowflake Inc. Class A common stockholders$(316,899)$(226,867)$(633,887)$(452,494)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted334,071 327,335 333,830 325,772 
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted$(0.95)$(0.69)$(1.90)$(1.39)

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

Three and Six Months Ended July 31,
20242023
Stock options25,097 30,893 
RSUs22,432 20,497 
Unvested restricted common stock and early exercised stock options500 291 
Employee stock purchase rights under the 2020 ESPP271 176 
Total48,300 51,857 
v3.24.2.u1
Related Party Transactions
 6 Months Ended
Jul. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
A member of the Company’s board of directors currently serves as the Chief Executive Officer of a privately-held company (the Related Party), which has been the Company’s customer since 2018. During the six months ended July 31, 2024, as a minority investor, the Company made a strategic investment of approximately $5.0 million, by purchasing non-marketable equity securities issued by the Related Party. Revenue recognized from the Related Party was not material for each of the three and six months ended July 31, 2024 and 2023. Additionally, as of July 31, 2024 and January 31, 2024, the Company did not have material accounts receivable balance due from the Related Party.
v3.24.2.u1
Subsequent Event
 6 Months Ended
Jul. 31, 2024
Subsequent Events [Abstract]  
Subsequent Event Subsequent Event
As set forth in Note 11, “Equity,” 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. As of July 31, 2024, $491.9 million remained available for future repurchases under the stock repurchase program. In August 2024, the Company’s board of directors authorized the repurchase of an additional $2.5 billion of its outstanding common stock and extended the expiration date of the stock repurchase program from March 2025 to March 2027. Repurchases may be effected, from time to time, either on the open market (including via pre-set trading plans), in privately negotiated transactions, or through other transactions in accordance with applicable securities laws.

The timing and amount of any repurchases will be determined by management based on an evaluation of market conditions and other factors. The program does not obligate the Company to acquire any particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion.
v3.24.2.u1
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Jul. 31, 2024
Accounting Policies [Abstract]  
Fiscal Year
Fiscal Year

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

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

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

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

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

The Company delivers its platform over the internet as a service. Customers choose to consume the platform under either capacity arrangements, in which customers commit to a certain amount of consumption at specified prices, or under on-demand arrangements, in which the Company charges for use of the platform monthly in arrears. Under capacity arrangements, from which a majority of revenue is derived, the Company typically bills its customers annually in advance of their consumption. Revenue from on-demand arrangements typically relates to customers with lower usage levels or overage consumption beyond a customer’s contracted usage amount under a capacity contract or following the expiration of a customer’s capacity contract. Revenue from on-demand arrangements represented approximately 2% of our revenue for each of the three and six months ended July 31, 2024 and 2023. The Company recognizes revenue as customers consume compute, storage, and data transfer resources under either of these arrangements. In limited instances, customers pay an annual deployment fee to gain access to a dedicated instance of a virtual private deployment. Deployment fees are recognized ratably over the contract term.

Customers do not have the contractual right to take possession of the Company’s platform. Pricing for the platform includes embedded support services, data backup and disaster recovery services, as well as future updates, when and if available, offered during the contract term.
Customer contracts for capacity typically have a term of one to four years. To the extent customers enter into such contracts and either consume the platform in excess of their capacity commitments or continue to use the platform after expiration of the contract term, they are charged for their incremental consumption. In many cases, customer contracts permit customers to roll over any unused capacity to a subsequent order, generally on the purchase of additional capacity.

Customer contracts are generally non-cancelable during the contract term, although customers can terminate for breach if the Company materially fails to perform. For those customers who do not have a capacity arrangement, the Company’s on-demand arrangements generally have a monthly stated contract term and can be terminated at any time by either the customer or the Company.

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

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

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

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

2) Identify the performance obligations in the contract. Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract.

Prior to June 2024, the Company treated consumption of its platform for compute, storage, and data transfer resources as a single performance obligation because they were consumed by customers as a single, integrated offering. Each of compute, storage and data transfer worked together to drive consumption on the Company’s platform.

In June 2024, the Company made Iceberg tables generally available to its customers, enabling them to use the Snowflake platform for compute services without requiring storage. As a result, starting from June 2024, customers are allowed to select compute, storage, and data transfer resources separately, at their discretion. Consequently, the Company treats the consumption of its platform for compute, storage, and data transfer resources as separate and distinct performance obligations. This change did not have a material impact on the Company’s condensed consolidated financial statements for any period presented.

The Company treats its virtual private deployments for customers, professional services, technical solution services, and training each as a separate and distinct performance obligation. Some customers have negotiated an option to purchase additional capacity at a stated discount. These options generally do not provide a material right as they are priced at the Company’s SSP, as described below, as the stated discounts are not incremental to the range of discounts typically given.
3) Determine the transaction price. The transaction price is determined based on the consideration the Company expects to receive in exchange for transferring services to the customer. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue recognized under the contract will not occur. Variable consideration is estimated based on expected value, primarily relying on the Company’s history. In certain situations, the Company may also use the most likely amount as the basis of its estimate. None of the Company’s contracts contain a significant financing component. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental entities (e.g., sales and other indirect taxes).

4) Allocate the transaction price to performance obligations in the contract. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation on a relative SSP basis. The determination of a relative SSP for each distinct performance obligation requires judgment. The Company determines SSP for performance obligations based on an observable standalone selling price when it is available, as well as other factors, including the overall pricing objectives, which take into consideration market conditions and customer-specific factors, including a review of internal discounting tables, the services being sold, the volume of capacity commitments, the estimated mix of compute, storage, and data transfer, and other factors. The observable standalone selling price is established based on the price at which products and services are sold separately. If an SSP is not observable through past transactions, the Company estimates it using available information including, but not limited to, market data and other observable inputs.

5) Recognize revenue when or as the Company satisfies a performance obligation. Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised service to a customer. Revenue is recognized when control of the services is transferred to the customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those services. The Company determined an output method for capacity arrangements to be the most appropriate measure of progress because it most faithfully represents when the value of the services is simultaneously received and consumed by the customer, and control is transferred. Virtual private deployment fees are recognized ratably over the term of the deployment as the deployment service represents a stand-ready performance obligation provided throughout the deployment term.
Remaining Performance Obligations
Remaining performance obligations (RPO) represent the amount of contracted future revenue that has not yet been recognized, including (i) deferred revenue and (ii) non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. The Company’s RPO excludes performance obligations from on-demand arrangements as there are no minimum purchase commitments associated with these arrangements, and certain time and materials contracts that are billed in arrears. Portions of RPO that are not yet invoiced and are denominated in foreign currencies are revalued into U.S. dollars each period based on the applicable period-end exchange rates.
Recently Issued Accounting Pronouncements Not Yet Adopted
Recently Issued Accounting Pronouncements Not Yet Adopted

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit and loss, and an amount for other segment items by reportable segment and a description of its composition. This guidance also requires disclosures on the title and position of the chief operating decision maker and an explanation of how the chief operating decision maker uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources, and interim disclosures of reportable segment’s profit or loss and assets. This guidance is effective for the Company for its fiscal year beginning February 1, 2024 and interim periods within its fiscal year beginning February 1, 2025 on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its condensed consolidated financial statements and disclosures.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires annual disclosure on disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. This guidance is effective for the Company for its fiscal year beginning February 1, 2025 on a prospective basis. Early adoption and retrospective application are permitted. The Company is currently evaluating the impact of the adoption of this guidance on its condensed consolidated financial statements and disclosures.
Fair Value of Financial Instruments Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

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

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

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

The tables above do not include the Company’s strategic investments, which consist primarily of (i) non-marketable equity securities recorded at cost minus impairment, if any, and adjusted for observable transactions for the same or similar investments of the same issuer (referred to as the Measurement Alternative), and (ii) marketable equity securities.

The Company’s non-marketable equity securities accounted for using the Measurement Alternative are recorded at fair value on a non-recurring basis and classified within Level 3 of the fair value hierarchy because significant unobservable inputs or data in an inactive market are used in estimating their fair value. The estimation of fair value for these assets requires the use of an observable transaction price or other unobservable inputs, including the volatility, rights, and obligations of the securities the Company holds. The Company’s marketable equity securities are recorded at fair value on a recurring basis and classified within Level 1 of the fair value hierarchy because they are valued using the quoted market price.
Net Loss Per Share Net Loss per Share
Basic and diluted net loss per share attributable to Snowflake Inc. Class A common stockholders is computed in conformity with the two-class method required for participating securities. The Company considers unvested common stock to be participating securities, as the holders of such stock have the right to receive nonforfeitable dividends on a pari passu basis in the event that a dividend is declared on common stock.

Basic net loss per share attributable to Snowflake Inc. Class A common stockholders is computed by dividing net loss attributable to Snowflake Inc. Class A common stockholders by the weighted-average number of shares of Snowflake Inc. Class A common stock outstanding during the period, which excludes treasury stock. Diluted net loss per share attributable to Snowflake Inc. Class A common stockholders is computed by giving effect to all potentially dilutive Snowflake Inc. Class A common stock equivalents to the extent they are dilutive. For purposes of this calculation, stock options, RSUs, restricted common stock, early exercised stock options, and ESPP Rights are considered to be common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. Class A common stockholders as their effect is anti-dilutive for all periods presented.
v3.24.2.u1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jul. 31, 2024
Accounting Policies [Abstract]  
Summary of Long-lived Assets by Geographic Areas
The following table presents the Company’s long-lived assets, comprising property and equipment, net and operating lease right-of-use assets, by geographic area (in thousands):
July 31, 2024January 31, 2024
United States$418,999 $379,664 
Other(1)
118,238 119,928 
Total$537,237 $499,592 
________________
(1)No individual country outside of the United States accounted for more than 10% of the Company’s long-lived assets as of July 31, 2024 and January 31, 2024.
v3.24.2.u1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations (Tables)
 6 Months Ended
Jul. 31, 2024
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,
2024202320242023
Product revenue$829,250 $640,209 $1,618,837 $1,230,281 
Professional services and other revenue39,573 33,809 78,695 67,336 
Total$868,823 $674,018 $1,697,532 $1,297,617 
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,
2024202320242023
Americas:
United States$663,630 $516,367 $1,295,671 $999,356 
Other Americas(1)
22,777 17,842 46,512 34,698 
EMEA(1)(2)
137,872 106,284 269,529 201,174 
Asia-Pacific and Japan(1)
44,544 33,525 85,820 62,389 
Total$868,823 $674,018 $1,697,532 $1,297,617 
________________
(1)No individual country in these areas represented more than 10% of the Company’s revenue for all periods presented.
(2)Includes Europe, the Middle East, and Africa.
v3.24.2.u1
Cash Equivalents and Investments (Tables)
 6 Months Ended
Jul. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash and Cash Equivalents
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

July 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$636,041 $— $— $636,041 
U.S. government securities276,147 — (2)276,145 
Time deposits65,287 — — 65,287 
Commercial paper2,348 — — 2,348 
Total cash equivalents979,823 — (2)979,821 
Investments:
Corporate notes and bonds1,274,237 1,525 (1,682)1,274,080 
U.S. government and agency securities672,427 346 (2,427)670,346 
Commercial paper443,345 40 (226)443,159 
Certificates of deposit258,208 108 (33)258,283 
Total investments2,648,217 2,019 (4,368)2,645,868 
Total cash equivalents and investments$3,628,040 $2,019 $(4,370)$3,625,689 

January 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
U.S. government securities$742,235 $1 $(2)$742,234 
Money market funds533,211 — — 533,211 
Time deposits56,263 — — 56,263 
Total cash equivalents1,331,709 1 (2)1,331,708 
Investments:
Corporate notes and bonds1,549,151 1,959 (3,394)1,547,716 
U.S. government and agency securities877,496 574 (4,653)873,417 
Commercial paper353,525 154 (131)353,548 
Certificates of deposit224,869 271 (15)225,125 
Total investments3,005,041 2,958 (8,193)2,999,806 
Total cash equivalents and investments$4,336,750 $2,959 $(8,195)$4,331,514 
Schedule of Debt Securities, Available-for-Sale
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

July 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$636,041 $— $— $636,041 
U.S. government securities276,147 — (2)276,145 
Time deposits65,287 — — 65,287 
Commercial paper2,348 — — 2,348 
Total cash equivalents979,823 — (2)979,821 
Investments:
Corporate notes and bonds1,274,237 1,525 (1,682)1,274,080 
U.S. government and agency securities672,427 346 (2,427)670,346 
Commercial paper443,345 40 (226)443,159 
Certificates of deposit258,208 108 (33)258,283 
Total investments2,648,217 2,019 (4,368)2,645,868 
Total cash equivalents and investments$3,628,040 $2,019 $(4,370)$3,625,689 

January 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
U.S. government securities$742,235 $1 $(2)$742,234 
Money market funds533,211 — — 533,211 
Time deposits56,263 — — 56,263 
Total cash equivalents1,331,709 1 (2)1,331,708 
Investments:
Corporate notes and bonds1,549,151 1,959 (3,394)1,547,716 
U.S. government and agency securities877,496 574 (4,653)873,417 
Commercial paper353,525 154 (131)353,548 
Certificates of deposit224,869 271 (15)225,125 
Total investments3,005,041 2,958 (8,193)2,999,806 
Total cash equivalents and investments$4,336,750 $2,959 $(8,195)$4,331,514 
Schedule of Available For Sale Securities Remaining Contractual Maturity The estimated fair values of available-for-sale marketable debt securities, classified as short-term or long-term investments on the Company’s condensed consolidated balance sheets, by remaining contractual maturity, are as follows (in thousands):
July 31, 2024
Estimated
Fair Value
Due within 1 year$1,948,462 
Due in 1 year to 3 years697,406 
Total$2,645,868 
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, 2024
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
U.S. government securities$179,497 $(2)$— $— $179,497 $(2)
Commercial paper2,348 — — — 2,348 — 
Total cash equivalents181,845 (2)— — 181,845 (2)
Investments:
Corporate notes and bonds527,359 (807)276,449 (875)803,808 (1,682)
U.S. government and agency securities122,169 (174)333,091 (2,253)455,260 (2,427)
Commercial paper316,822 (226)— — 316,822 (226)
Certificates of deposit45,260 (33)— — 45,260 (33)
Total investments1,011,610 (1,240)609,540 (3,128)1,621,150 (4,368)
Total cash equivalents and investments$1,193,455 $(1,242)$609,540 $(3,128)$1,802,995 $(4,370)
January 31, 2024
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
U.S. government securities$338,893 $(2)$— $— $338,893 $(2)
Total cash equivalents338,893 (2)— — 338,893 (2)
Investments:
Corporate notes and bonds625,766 (1,259)321,952 (2,135)947,718 (3,394)
U.S. government and agency securities525,408 (1,323)191,863 (3,330)717,271 (4,653)
Commercial paper172,422 (131)— — 172,422 (131)
Certificates of deposit71,813 (15)— — 71,813 (15)
Total investments1,395,409 (2,728)513,815 (5,465)1,909,224 (8,193)
Total cash equivalents and investments$1,734,302 $(2,730)$513,815 $(5,465)$2,248,117 $(8,195)
v3.24.2.u1
Fair Value Measurements (Tables)
 6 Months Ended
Jul. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of July 31, 2024 (in thousands):

Level 1
Level 2
Total
Assets:
Cash equivalents:
Money market funds$636,041 $— $636,041 
U.S. government securities— 276,145 276,145 
Time deposits— 65,287 65,287 
Commercial paper— 2,348 2,348 
Short-term investments:
Corporate notes and bonds— 770,287 770,287 
U.S. government and agency securities— 488,432 488,432 
Commercial paper— 443,159 443,159 
Certificates of deposit— 246,584 246,584 
Long-term investments:
Corporate notes and bonds— 503,793 503,793 
U.S. government and agency securities— 181,914 181,914 
Certificates of deposit— 11,699 11,699 
Derivative assets:
Foreign currency forward contracts— 1,075 1,075 
Total assets$636,041 $2,990,723 $3,626,764 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts$— $(565)$(565)
Total liabilities
$— $(565)$(565)
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of January 31, 2024 (in thousands):

Level 1
Level 2
Total
Assets:
Cash equivalents:
U.S. government securities$— $742,234 $742,234 
Money market funds533,211 — 533,211 
Time deposits— 56,263 56,263 
Short-term investments:
Corporate notes and bonds— 939,727 939,727 
U.S. government and agency securities— 573,780 573,780 
Commercial paper— 353,548 353,548 
Certificates of deposit— 216,444 216,444 
Long-term investments:
Corporate notes and bonds— 607,989 607,989 
U.S. government and agency securities— 299,637 299,637 
Certificates of deposit— 8,681 8,681 
Derivative assets:
Foreign currency forward contracts— 60 60 
Total assets$533,211 $3,798,363 $4,331,574 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts$— $(745)$(745)
Total liabilities
$— $(745)$(745)
Schedule of Fair Value Measurements
The following table presents the Company’s strategic investments by type (in thousands):

July 31, 2024January 31, 2024
Equity securities:
Non-marketable equity securities under Measurement Alternative$295,506 $190,238 
Non-marketable equity securities under equity method5,436 5,307 
Marketable equity securities13,255 37,320 
Debt securities:
Non-marketable debt securities1,750 1,500 
Total strategic investments—included in other assets$315,947 $234,365 
Unrealized Gain (Loss) on Investments
The following table summarizes the gains and losses associated with the Company’s strategic investments in equity securities (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2024202320242023
Unrealized losses on non-marketable equity securities under Measurement Alternative:
Impairments$(7,158)$(2,101)$(25,911)$(2,101)
Net unrealized gains (losses) on marketable equity securities
650 7,410 (3,005)4,996 
Net unrealized gains (losses) on strategic investments in equity securities
(6,508)5,309 (28,916)2,895 
Net realized gains on marketable equity securities sold(1)
— — 1,713 — 
Total—included in other income (expense), net
$(6,508)$5,309 $(27,203)$2,895 
________________
(1)Represents the difference between the sale proceeds and the carrying value of the securities at the beginning of the period or the purchase date, if later.
Realized Gain (Loss) on Investments
The following table summarizes the gains and losses associated with the Company’s strategic investments in equity securities (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2024202320242023
Unrealized losses on non-marketable equity securities under Measurement Alternative:
Impairments$(7,158)$(2,101)$(25,911)$(2,101)
Net unrealized gains (losses) on marketable equity securities
650 7,410 (3,005)4,996 
Net unrealized gains (losses) on strategic investments in equity securities
(6,508)5,309 (28,916)2,895 
Net realized gains on marketable equity securities sold(1)
— — 1,713 — 
Total—included in other income (expense), net
$(6,508)$5,309 $(27,203)$2,895 
________________
(1)Represents the difference between the sale proceeds and the carrying value of the securities at the beginning of the period or the purchase date, if later.
v3.24.2.u1
Property and Equipment, Net (Tables)
 6 Months Ended
Jul. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

July 31, 2024January 31, 2024
Leasehold improvements$96,573 $67,804 
Computers, equipment, and software46,586 29,859 
Furniture and fixtures24,211 17,593 
Capitalized internal-use software development costs176,321 93,222 
Construction in progress—capitalized internal-use software development costs24,671 78,737 
Construction in progress—other3,926 34,890 
Total property and equipment, gross372,288 322,105 
Less: accumulated depreciation and amortization(1)
(107,510)(74,641)
Total property and equipment, net$264,778 $247,464 
________________
(1)Includes $52.7 million and $30.0 million of accumulated amortization related to capitalized internal-use software development costs as of July 31, 2024 and January 31, 2024, respectively.
v3.24.2.u1
Business Combinations (Tables)
 6 Months Ended
Jul. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed 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$43,968 
Goodwill62,931 
Developed technology intangible assets83,000 
5
Other net tangible liabilities(759)
Deferred tax liabilities, net(1)
(3,713)
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 purchase consideration was allocated to assets acquired and liabilities assumed based on their respective estimated fair values. The allocation of purchase consideration, inclusive of measurement period adjustments, was as follows:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents$11,594 
Goodwill46,426 
Developed technology intangible asset33,000 
5
Other net tangible liabilities(6,623)
Deferred tax liabilities, net(1)
(8,136)
Total$76,261 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.
The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective estimated fair values. The allocation of purchase consideration, inclusive of measurement period adjustments, was as follows:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash, cash equivalents, and restricted cash$3,563 
Goodwill9,029 
Developed technology intangible asset53,000 
5
Other net tangible liabilities(1,434)
Deferred tax liabilities, net(1)
(2,150)
Total$62,008 
________________
(1)Deferred tax liabilities, net primarily relates to the intangible asset acquired and the amount presented is net of deferred tax assets.
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)
v3.24.2.u1
Intangible Assets and Goodwill (Tables)
 6 Months Ended
Jul. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
Intangible assets, net consisted of the following (in thousands):

July 31, 2024
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$242,296 $(68,216)$174,080 
Developer community154,900 (70,872)84,028 
Assembled workforce55,732 (29,899)25,833 
Patents8,874 (7,103)1,771 
Total finite-lived intangible assets$461,802 $(176,090)$285,712 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$286,538 
January 31, 2024
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$243,596 $(47,919)$195,677 
Developer community154,900 (55,442)99,458 
Assembled workforce55,732 (22,945)32,787 
Patents8,874 (6,211)2,663 
Total finite-lived intangible assets$463,102 $(132,517)$330,585 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$331,411 
Schedule of Future Amortization Expense
As of July 31, 2024, future amortization expense is expected to be as follows (in thousands):

Amount
Fiscal Year Ending January 31,
Remainder of 2025$47,759 
202689,013 
202784,860 
202852,295 
202911,633 
Thereafter152 
Total$285,712 
Schedule of Goodwill
Changes in goodwill were as follows (in thousands):

Amount
Balance—January 31, 2024
$975,906 
Additions and measurement period adjustments(1)
8,170 
Balance—July 31, 2024
$984,076 
________________
(1)Includes measurement period adjustments related to the preliminary fair values of the assets acquired and liabilities assumed in business combinations. These adjustments did not have a material impact on goodwill. See Note 7, “Business Combinations,” for further details.
v3.24.2.u1
Accrued Expenses and Other Current Liabilities (Tables)
 6 Months Ended
Jul. 31, 2024
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):

July 31, 2024January 31, 2024
Accrued compensation$206,486 $205,056 
Accrued third-party cloud infrastructure expenses63,087 48,571 
Liabilities associated with sales, marketing and business development programs37,836 39,571 
Employee contributions under employee stock purchase plan37,502 40,641 
Accrued taxes17,446 37,108 
Accrued purchases of property and equipment10,456 4,508 
Employee payroll tax withheld on employee stock transactions10,224 22,479 
Accrued professional services8,709 9,274 
Other57,180 39,652 
Total accrued expenses and other current liabilities$448,926 $446,860 
v3.24.2.u1
Equity (Tables)
 6 Months Ended
Jul. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares Reserved For Future Issuance The Company had reserved shares of common stock for future issuance as follows (in thousands):
July 31, 2024January 31, 2024
2012 Equity Incentive Plan:
Options outstanding23,480 26,767 
Restricted stock units outstanding123 789 
2020 Equity Incentive Plan:
Options outstanding1,617 602 
Restricted stock units outstanding22,309 20,168 
Shares available for future grants70,086 59,371 
2020 Employee Stock Purchase Plan:
Shares available for future grants16,759 13,764 
Total shares of common stock reserved for future issuance134,374 121,461 
Class of Treasury Stock
The following table summarizes the stock repurchase activity under the Company’s stock repurchase program (in thousands, except per share data):

Three Months Ended July 31,Six Months Ended July 31,
2024202320242023
Number of shares repurchased2,957 — 5,939 1,405 
Weighted-average price per share(1)
$135.29 $— $154.30 $136.39 
Aggregate purchase price(1)
$400,000 $— $916,329 $191,694 
________________
(1)Includes transaction costs associated with the repurchases.
Option Activity Rollforward
A summary of stock option activity during the six months ended July 31, 2024 is as follows:

Number of Shares
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic Value
(in thousands)
Balance—January 31, 2024
27,369 $12.35 5.0$5,023,664 
Granted960 $163.04 
Exercised(1,379)$7.69 
Canceled(92)$3.75 
Balance—April 30, 2024
26,858 $18.01 4.8$3,723,873 
Granted77 $164.78 
Exercised(1,816)$7.14 
Canceled(22)$207.56 
Balance—July 31, 2024
25,097 $19.07 4.6$2,872,192 
Vested and exercisable as of July 31, 2024
23,914 $11.52 4.5$2,872,130 
Schedule of Unvested RSU Rollforward
A summary of equity-classified RSUs activity during the six months ended July 31, 2024 is as follows:

Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2024
19,575 $169.82 
Granted
5,869 $167.74 
Vested(3,202)$162.47 
Forfeited(533)$168.85 
Performance adjustment(1)
(50)$139.58 
Unvested Balance—April 30, 2024
21,659 $170.44 
Granted
2,408 $141.61 
Vested(2,272)$172.52 
Forfeited
(748)$167.94 
Unvested Balance—July 31, 2024
21,047 $167.01 
________________
(1)Represents an adjustment in the number of shares outstanding, with regards to Leadership PRSUs granted during the six months ended July 31, 2023, based on the actual achievement of the associated Company annual performance targets for fiscal 2024.
A summary of liability-classified RSUs activity during the six months ended July 31, 2024 is as follows:

Number of Shares
(in thousands)
Unvested Balance—January 31, 2024 and April 30, 2024
1,382 
Granted(1)
3 
Unvested Balance—July 31, 2024
1,385 
________________
(1)Represents the maximum number of Acquisition PRSUs that may be eligible to vest with respect to these awards over their full term.
Schedule of Unvested RSA Rollforward
A summary of restricted common stock activity during the six months ended July 31, 2024 is as follows:

Outside of the Plans
Number of Shares
(in thousands)		Weighted-Average Grant Date
Fair Value
per Share
Unvested Balance—January 31, 2024
671 $209.15 
Vested(146)$223.42 
Unvested Balance—April 30, 2024
525 $205.15 
Vested(25)$194.28 
Unvested Balance—July 31, 2024
500 $205.68 
Valuation Assumptions Schedule The following table summarizes the assumptions used in estimating the fair values of stock options granted to employees during the three and six months ended July 31, 2024:
Three Months Ended July 31, 2024Six Months Ended July 31, 2024
Expected term (in years)6.0
4.8 - 6.0
Expected volatility56.6 %
56.6% - 56.7%
Risk-free interest rate4.4 %
4.2% - 4.4%
Expected dividend yield— %— %
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 six months ended July 31, 2024 and 2023:

Six Months Ended July 31,
20242023
Expected term (in years)0.50.5
Expected volatility49.6 %71.3 %
Risk-free interest rate5.4 %4.7 %
Expected dividend yield— %— %
Schedule of Valuation Assumptions, Liability-Classified Performance Shares
The following table summarizes the assumptions used in estimating the fair value of liability-classified Acquisition PRSUs as of July 31, 2024 and January 31, 2024:

July 31, 2024January 31, 2024
Expected volatility58.0 %60.0 %
Risk-free interest rate4.2 %4.0 %
Share-based Compensation Schedule
Stock-based compensation included in the condensed consolidated statements of operations was as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2024202320242023
Cost of revenue$34,815 $32,302 $67,223 $62,764 
Sales and marketing80,676 78,838 154,083 151,133 
Research and development204,917 163,005 399,589 299,422 
General and administrative35,592 25,577 67,041 50,912 
Stock-based compensation, net of amounts capitalized356,000 299,722 687,936 564,231 
Capitalized stock-based compensation7,846 12,903 17,141 24,622 
Total stock-based compensation$363,846 $312,625 $705,077 $588,853 
v3.24.2.u1
Net Loss per Share (Tables)
 6 Months Ended
Jul. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Loss per Share
The following table presents the calculation of basic and diluted net loss per share attributable to Snowflake Inc. Class A common stockholders (in thousands, except per share data):

Three Months Ended July 31,Six Months Ended July 31,
2024202320242023
Numerator:
Net loss$(317,770)$(227,320)$(635,586)$(453,384)
Less: net loss attributable to noncontrolling interest(871)(453)(1,699)(890)
Net loss attributable to Snowflake Inc. Class A common stockholders$(316,899)$(226,867)$(633,887)$(452,494)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted334,071 327,335 333,830 325,772 
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted$(0.95)$(0.69)$(1.90)$(1.39)
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,
20242023
Stock options25,097 30,893 
RSUs22,432 20,497 
Unvested restricted common stock and early exercised stock options500 291 
Employee stock purchase rights under the 2020 ESPP271 176 
Total48,300 51,857 
v3.24.2.u1
Basis of Presentation and Summary of Significant Accounting Policies - Summary of Long-lived Assets by Geographic Areas (Details) - USD ($)
$ in Thousands
Jul. 31, 2024
Jan. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 537,237 $ 499,592
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total 418,999 379,664
Other    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 118,238 $ 119,928
v3.24.2.u1
Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details)
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Minimum        
Concentration Risk [Line Items]        
Contract term (in years)     1 year  
Maximum        
Concentration Risk [Line Items]        
Contract term (in years)     4 years  
On-Demand Arrangements | Revenue from Contract with Customer Benchmark | Product and Service        
Concentration Risk [Line Items]        
Concentration risk, percentage 2.00% 2.00% 2.00% 2.00%
v3.24.2.u1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Disaggregation of Revenue [Line Items]        
Revenue $ 868,823 $ 674,018 $ 1,697,532 $ 1,297,617
Product revenue        
Disaggregation of Revenue [Line Items]        
Revenue 829,250 640,209 1,618,837 1,230,281
Professional services and other revenue        
Disaggregation of Revenue [Line Items]        
Revenue $ 39,573 $ 33,809 $ 78,695 $ 67,336
v3.24.2.u1
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, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Disaggregation of Revenue [Line Items]        
Revenue $ 868,823 $ 674,018 $ 1,697,532 $ 1,297,617
United States        
Disaggregation of Revenue [Line Items]        
Revenue 663,630 516,367 1,295,671 999,356
Other Americas        
Disaggregation of Revenue [Line Items]        
Revenue 22,777 17,842 46,512 34,698
EMEA        
Disaggregation of Revenue [Line Items]        
Revenue 137,872 106,284 269,529 201,174
Asia-Pacific and Japan        
Disaggregation of Revenue [Line Items]        
Revenue $ 44,544 $ 33,525 $ 85,820 $ 62,389
v3.24.2.u1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Jan. 31, 2024
Disaggregation of Revenue [Line Items]          
Allowance for doubtful accounts $ 4.6   $ 4.6   $ 2.5
Revenue recognized 642.7 $ 524.0 1,200.0 $ 896.4  
Remaining performance obligation $ 5,200.0   $ 5,200.0    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-08-01          
Disaggregation of Revenue [Line Items]          
Revenue, remaining performance obligation, percentage 50.00%   50.00%    
Remaining performance obligation, remaining life 12 months   12 months    
v3.24.2.u1
Cash Equivalents and Investments - Schedule of Cash and Cash Equivalents and Investments Fair Value (Details) - USD ($)
$ in Thousands
Jul. 31, 2024
Jan. 31, 2024
Cash equivalents:    
Amortized Cost $ 979,823 $ 1,331,709
Gross Unrealized Gains 0 1
Gross Unrealized Losses (2) (2)
Estimated Fair Value 979,821 1,331,708
Investments:    
Amortized Cost 2,648,217 3,005,041
Gross Unrealized Gains 2,019 2,958
Gross Unrealized Losses (4,368) (8,193)
Estimated Fair Value 2,645,868 2,999,806
Amortized Cost 3,628,040 4,336,750
Gross Unrealized Gains 2,019 2,959
Gross Unrealized Losses (4,370) (8,195)
Estimated Fair Value 3,625,689 4,331,514
Corporate notes and bonds    
Investments:    
Amortized Cost 1,274,237 1,549,151
Gross Unrealized Gains 1,525 1,959
Gross Unrealized Losses (1,682) (3,394)
Estimated Fair Value 1,274,080 1,547,716
U.S. government and agency securities    
Investments:    
Amortized Cost 672,427 877,496
Gross Unrealized Gains 346 574
Gross Unrealized Losses (2,427) (4,653)
Estimated Fair Value 670,346 873,417
Commercial paper    
Investments:    
Amortized Cost 443,345 353,525
Gross Unrealized Gains 40 154
Gross Unrealized Losses (226) (131)
Estimated Fair Value 443,159 353,548
Certificates of deposit    
Investments:    
Amortized Cost 258,208 224,869
Gross Unrealized Gains 108 271
Gross Unrealized Losses (33) (15)
Estimated Fair Value 258,283 225,125
Money market funds    
Cash equivalents:    
Amortized Cost 636,041 533,211
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 636,041 533,211
U.S. government securities    
Cash equivalents:    
Amortized Cost 276,147 742,235
Gross Unrealized Gains 0 1
Gross Unrealized Losses (2) (2)
Estimated Fair Value 276,145 742,234
Time deposits    
Cash equivalents:    
Amortized Cost 65,287 56,263
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 65,287 $ 56,263
Commercial paper    
Cash equivalents:    
Amortized Cost 2,348  
Gross Unrealized Gains 0  
Gross Unrealized Losses 0  
Estimated Fair Value $ 2,348  
v3.24.2.u1
Cash Equivalents and Investments - Narrative (Details) - USD ($)
$ in Millions
Jul. 31, 2024
Jan. 31, 2024
Debt Securities, Available-for-sale, Unrealized Loss Position    
Contractual maturities of available-for-sale debt securities, maximum 36 months  
Prepaid Expenses and Other Current Assets    
Debt Securities, Available-for-sale, Unrealized Loss Position    
Interest receivable, current $ 21.2 $ 24.2
v3.24.2.u1
Cash Equivalents and Investments - Schedule of Available for Sale Securities Remaining Contractual Maturity (Details)
$ in Thousands
Jul. 31, 2024
USD ($)
Investments, Debt and Equity Securities [Abstract]  
Due within 1 year $ 1,948,462
Due in 1 year to 3 years 697,406
Total $ 2,645,868
v3.24.2.u1
Cash Equivalents and Investments - Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - USD ($)
$ in Thousands
Jul. 31, 2024
Jan. 31, 2024
Cash Equivalents, Fair Value    
Less than 12 months, fair value $ 181,845 $ 338,893
12 months or greater, fair value 0 0
Total, fair value 181,845 338,893
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (2) (2)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (2) (2)
Investments, Fair Value    
Less than 12 months, fair value 1,011,610 1,395,409
12 months or greater, fair value 609,540 513,815
Total, fair value 1,621,150 1,909,224
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (1,240) (2,728)
12 months or greater, accumulated losses (3,128) (5,465)
Total, accumulated losses (4,368) (8,193)
Cash Equivalents And Debt Securities, Available-For-Sale [Abstract]    
Less than 12 months, fair value 1,193,455 1,734,302
12 months or greater, fair value 609,540 513,815
Total, fair value 1,802,995 2,248,117
Cash Equivalents And Debt Securities, Available-For-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, accumulated losses (1,242) (2,730)
12 months or greater, accumulated losses (3,128) (5,465)
Total, accumulated losses (4,370) (8,195)
Corporate notes and bonds    
Investments, Fair Value    
Less than 12 months, fair value 527,359 625,766
12 months or greater, fair value 276,449 321,952
Total, fair value 803,808 947,718
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (807) (1,259)
12 months or greater, accumulated losses (875) (2,135)
Total, accumulated losses (1,682) (3,394)
U.S. government and agency securities    
Investments, Fair Value    
Less than 12 months, fair value 122,169 525,408
12 months or greater, fair value 333,091 191,863
Total, fair value 455,260 717,271
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (174) (1,323)
12 months or greater, accumulated losses (2,253) (3,330)
Total, accumulated losses (2,427) (4,653)
Commercial paper    
Investments, Fair Value    
Less than 12 months, fair value 316,822 172,422
12 months or greater, fair value 0 0
Total, fair value 316,822 172,422
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (226) (131)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (226) (131)
Certificates of deposit    
Investments, Fair Value    
Less than 12 months, fair value 45,260 71,813
12 months or greater, fair value 0 0
Total, fair value 45,260 71,813
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses (33) (15)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (33) (15)
U.S. government securities    
Cash Equivalents, Fair Value    
Less than 12 months, fair value 179,497 338,893
12 months or greater, fair value 0 0
Total, fair value 179,497 338,893
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses (2) (2)
12 months or greater, accumulated losses 0 0
Total, accumulated losses (2) $ (2)
Commercial paper    
Cash Equivalents, Fair Value    
Less than 12 months, fair value 2,348  
12 months or greater, fair value 0  
Total, fair value 2,348  
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses 0  
12 months or greater, accumulated losses 0  
Total, accumulated losses $ 0  
v3.24.2.u1
Fair Value Measurements - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Jul. 31, 2024
Jan. 31, 2024
Assets:    
Cash equivalents $ 979,821 $ 1,331,708
Short-term investments 1,948,462 2,083,499
Long-term investments 697,406 916,307
Money market funds    
Assets:    
Cash equivalents 636,041 533,211
U.S. government securities    
Assets:    
Cash equivalents 276,145 742,234
Time deposits    
Assets:    
Cash equivalents 65,287 56,263
Commercial paper    
Assets:    
Cash equivalents 2,348  
Recurring    
Assets:    
Derivative assets 1,075 60
Total assets 3,626,764 4,331,574
Liabilities:    
Derivative liabilities (565) (745)
Total liabilities (565) (745)
Recurring | Corporate notes and bonds    
Assets:    
Short-term investments 770,287 939,727
Long-term investments 503,793 607,989
Recurring | U.S. government and agency securities    
Assets:    
Short-term investments 488,432 573,780
Long-term investments 181,914 299,637
Recurring | Commercial paper    
Assets:    
Short-term investments 443,159 353,548
Recurring | Certificates of deposit    
Assets:    
Short-term investments 246,584 216,444
Long-term investments 11,699 8,681
Recurring | Money market funds    
Assets:    
Cash equivalents 636,041 533,211
Recurring | U.S. government securities    
Assets:    
Cash equivalents 276,145 742,234
Recurring | Time deposits    
Assets:    
Cash equivalents 65,287 56,263
Recurring | Commercial paper    
Assets:    
Cash equivalents 2,348  
Recurring | Level 1    
Assets:    
Derivative assets 0 0
Total assets 636,041 533,211
Liabilities:    
Derivative liabilities 0 0
Total liabilities 0 0
Recurring | Level 1 | Corporate notes and bonds    
Assets:    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | U.S. government and agency securities    
Assets:    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | Commercial paper    
Assets:    
Short-term investments 0 0
Recurring | Level 1 | Certificates of deposit    
Assets:    
Short-term investments 0 0
Long-term investments 0 0
Recurring | Level 1 | Money market funds    
Assets:    
Cash equivalents 636,041 533,211
Recurring | Level 1 | U.S. government securities    
Assets:    
Cash equivalents 0 0
Recurring | Level 1 | Time deposits    
Assets:    
Cash equivalents 0 0
Recurring | Level 1 | Commercial paper    
Assets:    
Cash equivalents 0  
Recurring | Level 2    
Assets:    
Derivative assets 1,075 60
Total assets 2,990,723 3,798,363
Liabilities:    
Derivative liabilities (565) (745)
Total liabilities (565) (745)
Recurring | Level 2 | Corporate notes and bonds    
Assets:    
Short-term investments 770,287 939,727
Long-term investments 503,793 607,989
Recurring | Level 2 | U.S. government and agency securities    
Assets:    
Short-term investments 488,432 573,780
Long-term investments 181,914 299,637
Recurring | Level 2 | Commercial paper    
Assets:    
Short-term investments 443,159 353,548
Recurring | Level 2 | Certificates of deposit    
Assets:    
Short-term investments 246,584 216,444
Long-term investments 11,699 8,681
Recurring | Level 2 | Money market funds    
Assets:    
Cash equivalents 0 0
Recurring | Level 2 | U.S. government securities    
Assets:    
Cash equivalents 276,145 742,234
Recurring | Level 2 | Time deposits    
Assets:    
Cash equivalents 65,287 $ 56,263
Recurring | Level 2 | Commercial paper    
Assets:    
Cash equivalents $ 2,348  
v3.24.2.u1
Fair Value Measurements - Summary of Strategic Investments (Details) - USD ($)
$ in Thousands
Jul. 31, 2024
Jan. 31, 2024
Fair Value Disclosures [Abstract]    
Non-marketable equity securities under Measurement Alternative $ 295,506 $ 190,238
Non-marketable equity securities under equity method 5,436 5,307
Marketable equity securities 13,255 37,320
Non-marketable debt securities 1,750 1,500
Total strategic investments—included in other assets $ 315,947 $ 234,365
v3.24.2.u1
Fair Value Measurements - Unrealized Gain (Loss) on Investments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Fair Value Disclosures [Abstract]        
Impairments $ (7,158) $ (2,101) $ (25,911) $ (2,101)
Net unrealized gains (losses) on marketable equity securities 650 7,410 (3,005) 4,996
Net unrealized gains (losses) on strategic investments in equity securities (6,508) 5,309 (28,916) 2,895
Net realized gains on marketable equity securities sold 0 0 1,713 0
Total—included in other income (expense), net $ (6,508) $ 5,309 $ (27,203) $ 2,895
v3.24.2.u1
Fair Value Measurements - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Apr. 30, 2024
Jul. 31, 2024
Fair Value Disclosures [Abstract]      
Upward adjustments $ 37.1   $ 37.1
Impairments $ 67.0   $ 67.0
Granted (in dollars per share) $ 164.78 $ 163.04 $ 79.16
v3.24.2.u1
Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Jul. 31, 2024
Jan. 31, 2024
Property, Plant and Equipment    
Total property and equipment, gross $ 372,288 $ 322,105
Less: accumulated depreciation and amortization (107,510) (74,641)
Total property and equipment, net 264,778 247,464
Leasehold improvements    
Property, Plant and Equipment    
Total property and equipment, gross 96,573 67,804
Computers, equipment, and software    
Property, Plant and Equipment    
Total property and equipment, gross 46,586 29,859
Furniture and fixtures    
Property, Plant and Equipment    
Total property and equipment, gross 24,211 17,593
Capitalized internal-use software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 176,321 93,222
Less: accumulated depreciation and amortization (52,700) (30,000)
Construction in progress—capitalized internal-use software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 24,671 78,737
Construction in progress—other    
Property, Plant and Equipment    
Total property and equipment, gross $ 3,926 $ 34,890
v3.24.2.u1
Property and Equipment, Net - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Property, Plant and Equipment [Abstract]        
Depreciation $ 21.2 $ 8.5 $ 38.0 $ 16.1
Accumulated amortization, property, plant, and equipment $ 13.3 $ 3.9 24.2 7.4
Impairment of capitalized internal-use software     $ 0.0 $ 7.1
v3.24.2.u1
Business Combinations - Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Feb. 10, 2023
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Jan. 31, 2024
Business Acquisition [Line Items]            
Goodwill   $ 984,076,000   $ 984,076,000   $ 975,906,000
Privately-Held Company            
Business Acquisition [Line Items]            
Consideration transferred   10,800,000        
Intangible assets   $ 2,500,000   2,500,000    
Estimated Useful Life (in years)   5 years        
Goodwill   $ 8,300,000   8,300,000    
Business combination, acquisition related costs       $ 0    
Neeva Inc.            
Business Acquisition [Line Items]            
Consideration transferred     $ 185,400,000      
Estimated Useful Life (in years)     5 years      
Goodwill     $ 62,931,000   $ 62,931,000  
Business combination, acquisition related costs         0  
Mountain US Corporation            
Business Acquisition [Line Items]            
Consideration transferred $ 76,300,000          
Estimated Useful Life (in years) 5 years          
Goodwill $ 46,426,000          
Business combination, acquisition related costs         0  
LeapYear Technologies, Inc.            
Business Acquisition [Line Items]            
Consideration transferred $ 62,000,000          
Estimated Useful Life (in years) 5 years          
Goodwill $ 9,029,000          
Business combination, acquisition related costs         $ 0  
v3.24.2.u1
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
Jul. 31, 2023
Jul. 31, 2024
Jan. 31, 2024
Business Acquisition [Line Items]        
Goodwill     $ 984,076 $ 975,906
Mountain US Corporation        
Business Acquisition [Line Items]        
Cash and cash equivalents $ 11,594      
Goodwill 46,426      
Developed technology intangible asset 33,000      
Other net tangible liabilities (6,623)      
Deferred tax liabilities, net (8,136)      
Total $ 76,261      
Estimated Useful Life (in years) 5 years      
LeapYear Technologies, Inc.        
Business Acquisition [Line Items]        
Cash and cash equivalents $ 3,563      
Goodwill 9,029      
Developed technology intangible asset 53,000      
Other net tangible liabilities (1,434)      
Deferred tax liabilities, net (2,150)      
Total $ 62,008      
Estimated Useful Life (in years) 5 years      
Neeva Inc.        
Business Acquisition [Line Items]        
Cash and cash equivalents   $ 43,968    
Goodwill   62,931    
Developed technology intangible asset   83,000    
Other net tangible liabilities   (759)    
Deferred tax liabilities, net   (3,713)    
Total   $ 185,427    
Estimated Useful Life (in years)   5 years    
v3.24.2.u1
Business Combinations - Pro Forma Information (Details) - Neeva Inc. - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2023
Jul. 31, 2022
Jul. 31, 2023
Jul. 31, 2022
Business Acquisition [Line Items]        
Revenue $ 674,156 $ 497,261 $ 1,297,863 $ 919,640
Net loss $ (244,992) $ (254,014) $ (499,999) $ (437,835)
v3.24.2.u1
Intangible Assets and Goodwill - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Jul. 31, 2024
Jan. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross $ 461,802 $ 463,102
Accumulated Amortization (176,090) (132,517)
Net 285,712 330,585
Indefinite-lived intangible assets—trademarks 826 826
Total intangible assets, net 286,538 331,411
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross 242,296 243,596
Accumulated Amortization (68,216) (47,919)
Net 174,080 195,677
Developer community    
Finite-Lived Intangible Assets [Line Items]    
Gross 154,900 154,900
Accumulated Amortization (70,872) (55,442)
Net 84,028 99,458
Assembled workforce    
Finite-Lived Intangible Assets [Line Items]    
Gross 55,732 55,732
Accumulated Amortization (29,899) (22,945)
Net 25,833 32,787
Patents    
Finite-Lived Intangible Assets [Line Items]    
Gross 8,874 8,874
Accumulated Amortization (7,103) (6,211)
Net $ 1,771 $ 2,663
v3.24.2.u1
Intangible Assets and Goodwill - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]        
Amortization expense $ 23.9 $ 20.8 $ 47.3 $ 36.4
v3.24.2.u1
Intangible Assets and Goodwill - Schedule of Future Amortization Expense (Details) - USD ($)
$ in Thousands
Jul. 31, 2024
Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2025 $ 47,759  
2026 89,013  
2027 84,860  
2028 52,295  
2029 11,633  
Thereafter 152  
Net $ 285,712 $ 330,585
v3.24.2.u1
Intangible Assets and Goodwill - Schedule of Goodwill (Details)
$ in Thousands
 6 Months Ended
Jul. 31, 2024
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 975,906
Additions and measurement period adjustments 8,170
Ending balance $ 984,076
v3.24.2.u1
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Jul. 31, 2024
Jan. 31, 2024
Payables and Accruals [Abstract]    
Accrued compensation $ 206,486 $ 205,056
Accrued third-party cloud infrastructure expenses 63,087 48,571
Liabilities associated with sales, marketing and business development programs 37,836 39,571
Employee contributions under employee stock purchase plan 37,502 40,641
Accrued taxes 17,446 37,108
Accrued purchases of property and equipment 10,456 4,508
Employee payroll tax withheld on employee stock transactions 10,224 22,479
Accrued professional services 8,709 9,274
Other 57,180 39,652
Total accrued expenses and other current liabilities $ 448,926 $ 446,860
v3.24.2.u1
Commitments and Contingencies (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
May 31, 2024
Jan. 31, 2024
Other Commitments [Line Items]            
Sublease income $ 1,900,000 $ 3,100,000 $ 4,300,000 $ 6,200,000    
Cost of matching contributions 0 $ 0 0 $ 0    
Loss contingency accrual 0   0     $ 0
Letters of credit outstanding 17,500,000   17,500,000      
Minimum            
Other Commitments [Line Items]            
Loss contingency, range of possible loss 0   0      
Maximum            
Other Commitments [Line Items]            
Loss contingency, range of possible loss 25,000,000   $ 25,000,000      
New Office Facility Lease In The US            
Other Commitments [Line Items]            
Lessee, operating lease, liability, to be paid         $ 95,600,000  
Increase in operating lease right-of-use assets 35,200,000          
Increase in operating lease liabilities $ 38,300,000          
v3.24.2.u1
Equity - Narrative (Details) - USD ($)
 1 Months Ended 3 Months Ended 6 Months Ended
Feb. 01, 2024
Aug. 29, 2024
Jul. 31, 2024
Apr. 30, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Jan. 31, 2024
Feb. 28, 2023
Share-based Compensation Arrangement by Share-based Payment Award                  
Stock repurchase program, authorized amount                 $ 2,000,000,000.0
Stock repurchase program, remaining authorized repurchase amount     $ 491,900,000     $ 491,900,000      
Repurchases of common stock (in shares)           (500,000)      
Options granted (shares)     77,000 960,000 0   0    
Intrinsic value of shares exercised           $ 467,800,000 $ 736,700,000    
Grant date fair value of vested shares           15,800,000 28,300,000    
Stock-based compensation, net of amounts capitalized     $ 356,000,000   $ 299,722,000 $ 687,936,000 $ 564,231,000    
Expected dividend yield     0.00%   0.00% 0.00% 0.00%    
Unrecognized share-based compensation expense     $ 3,400,000,000     $ 3,400,000,000      
Unrecognized share-based compensation expense recognition period (term)           2 years 10 months 24 days      
Subsequent Event                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Stock repurchase program, additional authorized amount   $ 2,500,000,000              
2020 Equity Incentive Plan                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Shares authorized (in shares) 16,700,000                
Employee stock purchase rights under the 2020 ESPP                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Granted (shares)     0   0        
Expected dividend yield           0.00% 0.00%    
Employee stock purchase rights under the 2020 ESPP | 2020 Employee Stock Purchase Plan                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Offering period           6 months      
Shares authorized (in shares) 3,300,000                
Stock options                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           4 years      
Expiration period (years)           10 years      
Award holding period       1 year          
Discount for lack of marketability       7.60%          
Expected dividend yield     0.00%     0.00%      
Stock options | 2012 Equity Incentive Plan:                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Expiration period (years)           10 years      
Equity-Classified Restricted Stock Units (RSUs)                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Granted (shares)     2,408,000 5,869,000          
Equity-Classified Restricted Stock Units (RSUs) | 2020 Equity Incentive Plan                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           4 years      
Equity-Classified Restricted Stock Units (RSUs) | 2012 Equity Incentive Plan:                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           4 years      
Equity-Classified Restricted Stock Units (RSUs) | 2012 Equity Incentive Plan: | Grant Date                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           1 year      
Equity-Classified Performance Shares | 2020 Equity Incentive Plan                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           4 years      
Granted (shares)           800,000 500,000    
Stock-based compensation, net of amounts capitalized     $ 8,700,000   $ 6,300,000 $ 21,200,000 $ 10,100,000    
Equity-Classified Performance Shares | 2020 Equity Incentive Plan | Minimum                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Performance target, percentage           0.00%      
Equity-Classified Performance Shares | 2020 Equity Incentive Plan | Maximum                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Performance target, percentage           120.00%      
Equity-Classified Performance Shares | 2020 Equity Incentive Plan | Grant Date                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           1 year      
Liability-Classified Performance Shares | 2020 Equity Incentive Plan | Fiscal Year 2024 Acquisition                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           4 years      
Stock-based compensation, net of amounts capitalized     $ 0     $ 0      
Shares available for grant (in shares)     1,700,000     1,700,000      
Liability-classified instruments, liability, classified, noncurrent     $ 3,800,000     $ 3,800,000   $ 500,000  
Liability-Classified Performance Shares | 2020 Equity Incentive Plan | Grant Date | Fiscal Year 2024 Acquisition                  
Share-based Compensation Arrangement by Share-based Payment Award                  
Vesting period (years)           1 year      
v3.24.2.u1
Equity - Shares Reserved For Future Issuance (Details) - shares
shares in Thousands
Jul. 31, 2024
Jan. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 134,374 121,461
Employee stock purchase rights under the 2020 ESPP    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 16,759 13,764
2012 Equity Incentive Plan: | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 23,480 26,767
2012 Equity Incentive Plan: | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 123 789
2020 Equity Incentive Plan | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 1,617 602
2020 Equity Incentive Plan | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 22,309 20,168
2020 Equity Incentive Plan | Shares available for future grants    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (in shares) 70,086 59,371
v3.24.2.u1
Equity - Schedule of Stock Repurchase Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Share-Based Payment Arrangement [Abstract]        
Number of shares repurchased (in shares) 2,957 0 5,939 1,405
Weighted-average price per share (in dollars per share) $ 135.29 $ 0 $ 154.30 $ 136.39
Aggregate purchase price $ 400,000 $ 0 $ 916,329 $ 191,694
v3.24.2.u1
Equity - Option Activity Rollforward (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jul. 31, 2024
Apr. 30, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Jan. 31, 2024
Number of Options Outstanding (in thousands)            
Shares outstanding, beginning (in shares) 26,858,000 27,369,000   27,369,000    
Granted (in shares) (77,000) (960,000) 0   0  
Exercised (in shares) (1,816,000) (1,379,000)        
Canceled (in shares) (22,000) (92,000)        
Shares outstanding, ending (in shares) 25,097,000 26,858,000   25,097,000   27,369,000
Weighted- Average Exercise Price            
Shares outstanding, beginning balance (in dollars per share) $ 18.01 $ 12.35   $ 12.35    
Granted (in dollars per share) 164.78 163.04   79.16    
Exercised (in dollars per share) 7.14 7.69        
Canceled (in shares) 207.56 3.75        
Shares outstanding, ending balance (in dollars per share) $ 19.07 $ 18.01   $ 19.07   $ 12.35
Weighted-average remaining contractual life 4 years 7 months 6 days 4 years 9 months 18 days       5 years
Aggregate Intrinsic Value (in thousands)            
Aggregate intrinsic value $ 2,872,192 $ 3,723,873   $ 2,872,192   $ 5,023,664
Vested and exercisable (in shares) 23,914,000     23,914,000    
Vested and exercisable, weighted average share price (in dollars per share) $ 11.52     $ 11.52    
Vested and exercisable, weighted average remaining contractual life       4 years 6 months    
Vested and exercisable, intrinsic value $ 2,872,130     $ 2,872,130    
v3.24.2.u1
Equity - Unvested RSA & RSU Rollforward (Details) - $ / shares
shares in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Apr. 30, 2024
Jul. 31, 2024
Jul. 31, 2023
Equity-Classified Restricted Stock Units (RSUs)        
Number of Shares (in thousands)        
Unvested balance, beginning (in shares) 21,659 19,575 19,575  
Granted (shares) 2,408 5,869    
Vested (shares) (2,272) (3,202)    
Forfeited (shares) (748) (533)    
Performance adjustment (in shares)   (50)    
Unvested balance, ending (shares) 21,047 21,659 21,047  
Weighted-Average Grant Date Fair Value per Share        
Unvested balance, beginning balance (in dollars per share) $ 170.44 $ 169.82 $ 169.82  
Granted (in dollars per share) 141.61 167.74    
Vested (in dollars per share) 172.52 162.47    
Forfeited (in dollars per share) 167.94 168.85    
Performance adjustment (in dollars per share)   139.58    
Unvested balance, ending balance (in dollars per share) $ 167.01 $ 170.44 $ 167.01  
2020 Equity Incentive Plan | Equity-Classified Performance Shares        
Number of Shares (in thousands)        
Granted (shares)     800 500
2020 Equity Incentive Plan | Liability-Classified Performance Shares        
Number of Shares (in thousands)        
Unvested balance, beginning (in shares) 1,382 1,382 1,382  
Granted (in shares) 3   3  
Unvested balance, ending (in shares) 1,385 1,382 1,385  
Outside of the Plans | RCS        
Number of Shares (in thousands)        
Unvested balance, beginning (in shares) 525 671 671  
Vested (shares) (25) (146)    
Unvested balance, ending (shares) 500 525 500  
Weighted-Average Grant Date Fair Value per Share        
Unvested balance, beginning balance (in dollars per share) $ 205.15 $ 209.15 $ 209.15  
Vested (in dollars per share) 194.28 223.42    
Unvested balance, ending balance (in dollars per share) $ 205.68 $ 205.15 $ 205.68  
v3.24.2.u1
Equity - Valuation Assumptions (Details)
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jan. 31, 2024
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology            
Expected dividend yield     0.00% 0.00% 0.00% 0.00%
Stock options            
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology            
Expected term (in years)     6 years      
Expected volatility     56.60%      
Risk-free interest rate     4.40%      
Expected dividend yield     0.00%   0.00%  
Stock options | Minimum            
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology            
Expected term (in years)         4 years 9 months 18 days  
Expected volatility         56.60%  
Risk-free interest rate         4.20%  
Stock options | Maximum            
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology            
Expected term (in years)         6 years  
Expected volatility         56.70%  
Risk-free interest rate         4.40%  
Employee stock purchase rights under the 2020 ESPP            
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology            
Expected term (in years)         6 months 6 months
Expected volatility         49.60% 71.30%
Risk-free interest rate         5.40% 4.70%
Expected dividend yield         0.00% 0.00%
Liability-Classified Performance Shares | 2020 Equity Incentive Plan            
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology            
Expected volatility 58.00% 60.00%        
Risk-free interest rate 4.20% 4.00%        
v3.24.2.u1
Equity - Share-based Compensation (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized $ 356,000 $ 299,722 $ 687,936 $ 564,231
Capitalized stock-based compensation 7,846 12,903 17,141 24,622
Total stock-based compensation 363,846 312,625 705,077 588,853
Cost of revenue        
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized 34,815 32,302 67,223 62,764
Sales and marketing        
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized 80,676 78,838 154,083 151,133
Research and development        
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized 204,917 163,005 399,589 299,422
General and administrative        
Share-based Payment Arrangement, Expensed and Capitalized, Amount        
Stock-based compensation, net of amounts capitalized $ 35,592 $ 25,577 $ 67,041 $ 50,912
v3.24.2.u1
Income Taxes - Narrative (Details)
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Income Tax Disclosure [Abstract]        
Effective tax rate (1.20%) 1.60% (1.00%) 2.20%
v3.24.2.u1
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, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Numerator:        
Net loss $ (317,770) $ (227,320) $ (635,586) $ (453,384)
Less: net loss attributable to noncontrolling interest (871) (453) (1,699) (890)
Net loss attributable to Snowflake Inc. $ (316,899) $ (226,867) $ (633,887) $ (452,494)
Denominator:        
Net loss per share attributable to Class A common stockholders- basic (in dollars per share) $ (0.95) $ (0.69) $ (1.90) $ (1.39)
Net loss per share attributable to Class A common stockholders - diluted (in dollars per share) $ (0.95) $ (0.69) $ (1.90) $ (1.39)
Class A Common Stock        
Denominator:        
Weighted-average shares used in computing net loss per share attributable to Class A common stockholders - basic (in shares) 334,071 327,335 333,830 325,772
Weighted-average shares used in computing net loss per share attributable to Class A common stockholders - diluted (in shares) 334,071 327,335 333,830 325,772
Net loss per share attributable to Class A common stockholders- basic (in dollars per share) $ (0.95) $ (0.69) $ (1.90) $ (1.39)
Net loss per share attributable to Class A common stockholders - diluted (in dollars per share) $ (0.95) $ (0.69) $ (1.90) $ (1.39)
v3.24.2.u1
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, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) 48,300 51,857 48,300 51,857
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) 25,097 30,893 25,097 30,893
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) 22,432 20,497 22,432 20,497
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) 500 291 500 291
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) 271 176 271 176
v3.24.2.u1
Net Loss per Share - Narrative (Details) - Class B Common Stock - shares
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Class of Stock [Line Items]        
Weighted-average shares used in computing net loss per share attributable to Class B common stockholders - basic (in shares) 0 0 0 0
Weighted-average shares used in computing net loss per share attributable to Class B common stockholders - diluted (in shares) 0   0 0
v3.24.2.u1
Related Party Transactions (Details) - Related Party - USD ($)
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Jul. 31, 2024
Jul. 31, 2023
Jan. 31, 2024
Related Party Transaction [Line Items]          
Strategic investment, non-marketable equity securities     $ 5,000,000    
Revenue $ 0 $ 0 0 $ 0  
Receivables $ 0   $ 0   $ 0
v3.24.2.u1
Subsequent Event (Details) - USD ($)
$ in Millions
 1 Months Ended
Aug. 29, 2024
Jul. 31, 2024
Feb. 28, 2023
Subsequent Event [Line Items]      
Stock repurchase program, authorized amount     $ 2,000.0
Stock repurchase program, remaining authorized repurchase amount   $ 491.9  
Subsequent Event      
Subsequent Event [Line Items]      
Stock repurchase program, additional authorized amount $ 2,500.0