SNOWFLAKE INC., 10-K filed on 3/21/2025
Annual Report
v3.25.1
Cover - USD ($)
shares in Millions, $ in Billions
 12 Months Ended
Jan. 31, 2025
Mar. 07, 2025
Jul. 31, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Jan. 31, 2025    
Current Fiscal Year End Date --01-31    
Document Transition Report false    
Entity File Number 001-39504    
Entity Registrant Name SNOWFLAKE INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 46-0636374    
Entity Address, Address Line One Suite 3A    
Entity Address, Address Line Two 106 East Babcock Street    
Entity Address, City or Town Bozeman    
Entity Address, State or Province MT    
Entity Address, Postal Zip Code 59715    
City Area Code 844    
Local Phone Number 766-9355    
Title of 12(b) Security Class A Common Stock, $0.0001 par value    
Trading Symbol SNOW    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 42.3
Entity Common Stock, Shares Outstanding   334.1  
Documents Incorporated by Reference
Portions of the registrant's definitive Proxy Statement relating to the 2025 Annual Meeting of Stockholders are incorporated herein by reference in Part III of this Annual Report on Form 10-K where indicated. Such Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the registrant's fiscal year ended January 31, 2025.
    
Entity Central Index Key 0001640147    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.25.1
Audit Information
 12 Months Ended
Jan. 31, 2025
Audit Information [Abstract]  
Auditor name PricewaterhouseCoopers LLP
Auditor location San Jose, California
Auditor firm ID 238
v3.25.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Current assets:    
Cash and cash equivalents $ 2,628,798 $ 1,762,749
Short-term investments 2,008,873 2,083,499
Accounts receivable, net 922,805 926,902
Deferred commissions, current 97,662 86,096
Prepaid expenses and other current assets 211,234 180,018
Total current assets 5,869,372 5,039,264
Long-term investments 656,476 916,307
Property and equipment, net 296,393 247,464
Operating lease right-of-use assets 359,439 252,128
Goodwill 1,056,559 975,906
Intangible assets, net 278,028 331,411
Deferred commissions, non-current 183,967 187,093
Other assets 333,704 273,810
Total assets 9,033,938 8,223,383
Current liabilities:    
Accounts payable 169,767 51,721
Accrued expenses and other current liabilities 515,454 446,860
Operating lease liabilities, current 35,923 33,944
Deferred revenue, current 2,580,039 2,198,705
Total current liabilities 3,301,183 2,731,230
Convertible senior notes, net 2,271,529 0
Operating lease liabilities, non-current 377,818 254,037
Deferred revenue, non-current 15,501 14,402
Other liabilities 61,264 33,120
Total liabilities 6,027,295 3,032,789
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Preferred stock; $0.0001 par value per share; 200,000 shares authorized, zero shares issued and outstanding as of each January 31, 2025 and 2024 0 0
Common stock; $0.0001 par value per share; 2,500,000 Class A shares authorized; 334,301 and 334,453 shares issued as of January 31, 2025 and 2024, respectively(1); 333,865 and 333,961 shares outstanding as of January 31, 2025 and 2024, respectively(1); 185,461 Class B shares authorized, zero shares issued and outstanding as of each January 31, 2025 and 2024 34 34
Treasury stock, at cost; 436 shares and 492 shares held as of January 31, 2025 and 2024, respectively(1) (59,505) (67,140)
Additional paid-in capital 10,355,211 9,331,238
Accumulated other comprehensive loss (2,236) (8,220)
Accumulated deficit (7,293,575) (4,075,604)
Total Snowflake Inc. stockholders’ equity 2,999,929 5,180,308
Noncontrolling interest 6,714 10,286
Total stockholders’ equity 3,006,643 5,190,594
Total liabilities and stockholders’ equity $ 9,033,938 $ 8,223,383
v3.25.1
CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares
 12 Months Ended
Jan. 31, 2025
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) 436,000 492,000
Investing Subsidiary | Samooha, Inc.    
Business acquisition, equity interest issued or issuable (in shares)   200,000
Treasury stock retired (in shares) 200,000  
Class A Common Stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,500,000,000 2,500,000,000
Common stock, shares issued (in shares) [1] 334,301,000 334,453,000
Common stock, shares outstanding (in shares) [1] 333,865,000 333,961,000
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
[1] In connection with a business combination completed on December 20, 2023, the Company issued approximately 0.2 million shares of its Class A common stock to one of its wholly-owned subsidiaries, in exchange for a noncontrolling equity interest in the acquired company that was held by the subsidiary prior to this business combination. These shares were treated as treasury stock for accounting purposes as of January 31, 2024, and were subsequently transferred to the Company and retired during the fiscal year ended January 31, 2025. These shares are not reflected in the Company’s consolidated balance sheets. See Note 7, “Business Combinations,” and Note 12, “Equity,” for further details.
v3.25.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Income Statement [Abstract]      
Revenue $ 3,626,396 $ 2,806,489 $ 2,065,659
Cost of revenue 1,214,673 898,558 717,540
Gross profit 2,411,723 1,907,931 1,348,119
Operating expenses:      
Sales and marketing 1,672,092 1,391,747 1,106,507
Research and development 1,783,379 1,287,949 788,058
General and administrative 412,262 323,008 295,821
Total operating expenses 3,867,733 3,002,704 2,190,386
Operating loss (1,456,010) (1,094,773) (842,267)
Interest income 209,009 200,663 73,839
Interest expense (2,759) 0 0
Other income (expense), net (35,339) 44,887 (47,565)
Loss before income taxes (1,285,099) (849,223) (815,993)
Provision for (benefit from) income taxes 4,113 (11,233) (18,467)
Net loss (1,289,212) (837,990) (797,526)
Less: net loss attributable to noncontrolling interest (3,572) (1,893) (821)
Net loss attributable to Snowflake Inc. $ (1,285,640) $ (836,097) $ (796,705)
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic (in dollars per share) $ (3.86) $ (2.55) $ (2.50)
Net loss per share attributable to Snowflake Inc. Class A common stockholders—diluted (in dollars per share) $ (3.86) $ (2.55) $ (2.50)
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic (in shares) 332,707 328,001 318,730
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—diluted (in shares) 332,707 328,001 318,730
v3.25.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net loss $ (1,289,212) $ (837,990) $ (797,526)
Other comprehensive income (loss):      
Net change in unrealized gains or losses on available-for-sale debt securities 5,982 30,760 (20,619)
Other 2 (708) (1,367)
Total other comprehensive income (loss) 5,984 30,052 (21,986)
Comprehensive loss (1,283,228) (807,938) (819,512)
Less: comprehensive loss attributable to noncontrolling interest (3,572) (1,893) (821)
Comprehensive loss attributable to Snowflake Inc. $ (1,279,656) $ (806,045) $ (818,691)
v3.25.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Class A Common Stock
 [2]
Total Snowflake Inc. Stockholders’ Equity
Common Stock
Class A Common Stock
Treasury Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Noncontrolling Interest
Beginning balance (in shares) at Jan. 31, 2022       312,377,000          
Beginning balance at Jan. 31, 2022 $ 5,049,045   $ 5,049,045 $ 31 $ 0 $ 6,984,669 $ (16,286) $ (1,919,369) $ 0
Beginning balance, treasury stock (in shares) at Jan. 31, 2022         0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares) 6,118,000     6,118,000          
Issuance of common stock upon exercise of stock options $ 39,743   39,743 $ 1   39,742      
Issuance of common stock under employee stock purchase plan (in shares)       286,000          
Issuance of common stock under employee stock purchase plan 40,931   40,931     40,931      
Issuance of common stock in connection with a business combination (in shares)       1,916,000          
Issuance of common stock in connection with a business combination 438,916   438,916     438,916      
Issuance of common stock in connection with a business combination subject to future vesting (in shares)       409,000          
Vesting of early exercised stock options 244   244     244      
Vesting of restricted stock units (in shares)       3,348,000          
Shares withheld related to net share settlement of equity awards (in shares)       (1,149,000)          
Shares withheld related to net share settlement of equity awards (184,702)   (184,702)     (184,702)      
Stock-based compensation 890,950   890,950     890,950      
Capital contributions from noncontrolling interest holders 13,000               13,000
Other comprehensive income (loss) (21,986)   (21,986)       (21,986)    
Net loss (797,526)   (796,705)         (796,705) (821)
Ending balance (in shares) at Jan. 31, 2023       323,305,000          
Ending balance at Jan. 31, 2023 $ 5,468,615   5,456,436 $ 32 $ 0 8,210,750 (38,272) (2,716,074) 12,179
Ending 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) 8,357,000     8,355,000          
Issuance of common stock upon exercise of stock options $ 57,163   57,163 $ 1   57,162      
Issuance of common stock under employee stock purchase plan (in shares)       516,000          
Issuance of common stock under employee stock purchase plan 61,234   61,234     61,234      
Issuance of common stock in connection with a business combination (in shares) [1]       896,000          
Issuance of common stock in connection with a business combination [1] 174,284   174,284     174,284      
Issuance of common stock in connection with a business combination subject to future vesting (in shares)       385,000          
Vesting of early exercised stock options 163   163     163      
Vesting of restricted stock units (in shares)       6,804,000          
Vesting of restricted stock units 0   0 $ 1   (1)      
Shares withheld related to net share settlement of equity awards (in shares)       (2,296,000)          
Shares withheld related to net share settlement of equity awards $ (387,596)   (387,596)     (387,596)      
Repurchases of common stock as treasury stock (in shares) (500,000)       (500,000)        
Repurchases of common stock as treasury stock $ (68,299)   (68,299)   $ (68,299)        
Repurchases and retirement of common stock, including transaction costs (in shares)       (3,512,000)          
Repurchases and retirement of common stock, including transaction costs $ (523,433)   (523,433)         (523,433)  
Reissuance of treasury stock upon settlement of equity awards (in shares) 8,000       8,000        
Reissuance of treasury stock upon settlement of equity awards $ 27   27   $ 1,159 (1,132)      
Stock-based compensation 1,216,374   1,216,374     1,216,374      
Other comprehensive income (loss) 30,052   30,052       30,052    
Net loss (837,990)   (836,097)         (836,097) (1,893)
Ending balance (in shares) at Jan. 31, 2024   333,961,000   334,453,000          
Ending balance at Jan. 31, 2024 $ 5,190,594   5,180,308 $ 34 $ (67,140) 9,331,238 (8,220) (4,075,604) 10,286
Ending balance, treasury stock (in shares) at Jan. 31, 2024 (492,000)       (492,000)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Issuance of common stock upon exercise of stock options (in shares) 6,608,000     6,593,000          
Issuance of common stock upon exercise of stock options $ 44,697   44,697     44,697      
Issuance of common stock under employee stock purchase plan (in shares)       660,000          
Issuance of common stock under employee stock purchase plan 77,053   77,053     77,053      
Issuance of common stock in connection with a business combination (in shares)       513,000          
Issuance of common stock in connection with a business combination 87,706   87,706     87,706      
Issuance of common stock in connection with a business combination subject to future vesting (in shares)       445,000          
Cancellation of common stock issued in connection with business combinations (in shares)       (76,000)          
Cancellation of common stock in connection with business combination (67)   (67)     (67)      
Vesting of restricted stock units (in shares)       9,859,000          
Vesting of restricted stock units 0     $ 2   (2)      
Shares withheld related to net share settlement of equity awards (in shares)       (3,381,000)          
Shares withheld related to net share settlement of equity awards (489,555)   (489,555)     (489,555)      
Repurchases and retirement of common stock, including transaction costs (in shares)       (14,765,000)          
Repurchases and retirement of common stock, including transaction costs $ (1,932,333)   (1,932,333) $ (2)       (1,932,331)  
Reissuance of treasury stock upon settlement of equity awards (in shares) 56,000       56,000        
Reissuance of treasury stock upon settlement of equity awards $ 142   142   $ 7,635 (7,493)      
Purchases of capped calls related to convertible senior notes (195,500)   (195,500)     (195,500)      
Stock-based compensation 1,507,134   1,507,134     1,507,134      
Other comprehensive income (loss) 5,984   5,984       5,984    
Net loss (1,289,212)   (1,285,640)         (1,285,640) (3,572)
Ending balance (in shares) at Jan. 31, 2025   333,865,000   334,301,000          
Ending balance at Jan. 31, 2025 $ 3,006,643   $ 2,999,929 $ 34 $ (59,505) $ 10,355,211 $ (2,236) $ (7,293,575) $ 6,714
Ending balance, treasury stock (in shares) at Jan. 31, 2025 (436,000)       (436,000)        
[1] In connection with a business combination completed on December 20, 2023, the Company issued approximately 0.2 million shares of its Class A common stock to one of its wholly-owned subsidiaries, in exchange for a noncontrolling equity interest in the acquired company that was held by the subsidiary prior to this business combination. These shares were treated as treasury stock for accounting purposes as of January 31, 2024, and were subsequently transferred to the Company and retired during the fiscal year ended January 31, 2025. These shares are not reflected in the Company’s consolidated statements of stockholders’ equity. See Note 7, “Business Combinations,” and Note 12, “Equity,” for further details.
[2] In connection with a business combination completed on December 20, 2023, the Company issued approximately 0.2 million shares of its Class A common stock to one of its wholly-owned subsidiaries, in exchange for a noncontrolling equity interest in the acquired company that was held by the subsidiary prior to this business combination. These shares were treated as treasury stock for accounting purposes as of January 31, 2024, and were subsequently transferred to the Company and retired during the fiscal year ended January 31, 2025. These shares are not reflected in the Company’s consolidated balance sheets. See Note 7, “Business Combinations,” and Note 12, “Equity,” for further details.
v3.25.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (PARENTHETICAL) - Samooha, Inc. - Investing Subsidiary - shares
shares in Millions
 12 Months Ended
Dec. 20, 2023
Jan. 31, 2025
Jan. 31, 2024
Business acquisition, equity interest issued or issuable (in shares) 0.2   0.2
Treasury stock retired (in shares)   0.2  
v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Cash flows from operating activities:      
Net loss $ (1,289,212) $ (837,990) $ (797,526)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 182,508 119,903 63,535
Non-cash operating lease costs 59,943 52,892 46,240
Amortization of deferred commissions 93,128 74,787 57,445
Stock-based compensation, net of amounts capitalized 1,479,314 1,168,015 861,533
Net amortization (accretion) of premiums (discounts) on investments (43,434) (61,525) 3,497
Net realized and unrealized losses (gains) on strategic investments in equity securities 31,420 (46,809) 46,435
Amortization of debt issuance costs 2,759 0 0
Deferred income tax (7,671) (26,762) (26,664)
Other 7,420 14,895 1,618
Changes in operating assets and liabilities, net of effects of business combinations:      
Accounts receivable 536 (212,083) (166,965)
Deferred commissions (101,569) (134,787) (95,107)
Prepaid expenses and other assets 29,850 59,795 (2,904)
Accounts payable 108,852 19,212 8,024
Accrued expenses and other liabilities 70,876 171,048 74,519
Operating lease liabilities (47,711) (40,498) (42,342)
Deferred revenue 382,755 528,029 514,301
Net cash provided by operating activities 959,764 848,122 545,639
Cash flows from investing activities:      
Purchases of property and equipment (46,279) (35,086) (25,128)
Capitalized internal-use software development costs (29,433) (34,133) (24,012)
Cash paid for business combinations, net of cash, cash equivalents, and restricted cash acquired (30,305) (275,706) (362,609)
Purchases of intangible assets 0 (28,744) (700)
Purchases of investments (2,569,243) (2,476,206) (3,901,321)
Sales of investments 64,573 11,266 58,813
Maturities and redemptions of investments 2,802,082 3,670,867 3,657,072
Settlement of cash flow hedges (749) 0 0
Net cash provided by (used in) investing activities 190,646 832,258 (597,885)
Cash flows from financing activities:      
Proceeds from exercise of stock options 44,886 57,194 39,893
Proceeds from issuance of common stock under employee stock purchase plan 77,053 61,234 40,931
Taxes paid related to net share settlement of equity awards (489,149) (380,799) (184,648)
Repurchases of common stock (1,932,333) (591,732) 0
Payments of deferred purchase consideration for business combinations (250) 0 (1,800)
Gross proceeds from issuance of convertible senior notes 2,300,000 0 0
Cash paid for issuance costs on convertible senior notes (31,230) 0 0
Purchases of capped calls related to convertible senior notes (195,500) 0 0
Capital contributions from noncontrolling interest holders 0 0 13,000
Net cash used in financing activities (226,523) (854,103) (92,624)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (6,186) (2,031) (933)
Net increase (decrease) in cash, cash equivalents, and restricted cash 917,701 824,246 (145,803)
Cash, cash equivalents, and restricted cash—beginning of period 1,780,977 956,731 1,102,534
Cash, cash equivalents, and restricted cash—end of period 2,698,678 1,780,977 956,731
Supplemental disclosures of cash flow information:      
Cash paid for income taxes 15,675 12,452 6,550
Supplemental disclosures of non-cash investing and financing activities      
Property and equipment included in accounts payable and accrued expenses 36,061 17,463 6,317
Stock-based compensation included in capitalized internal-use software development costs 38,493 48,181 28,467
Issuance of common stock in connection with business combinations 87,706 174,284 438,916
Unpaid taxes related to net share settlement of equity awards included in accrued expenses and other current liabilities 7,273 6,850 53
Reconciliation of cash, cash equivalents, and restricted cash:      
Cash and cash equivalents 2,628,798 1,762,749 939,902
Restricted cash—included in other assets and prepaid expenses and other current assets 69,880 18,228 16,829
Total cash, cash equivalents, and restricted cash $ 2,698,678 $ 1,780,977 $ 956,731
v3.25.1
Organization and Description of Business
 12 Months Ended
Jan. 31, 2025
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 artificial intelligence (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 a growing number of data sets in secure, governed, and compliant ways. Snowflake was incorporated in the state of Delaware on July 23, 2012.
v3.25.1
Basis of Presentation and Summary of Significant Accounting Policies
 12 Months Ended
Jan. 31, 2025
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 ended January 31, 2025.

Basis of Presentation

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

Principles of Consolidation

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

Segment Information

The Company has a single operating and reportable segment. The Company’s chief operating decision maker (CODM) is its Chief Executive Officer, who reviews financial information presented on a consolidated basis, including, but not limited to, the Company’s consolidated net loss, for purposes of making operating decisions, assessing financial performance, and allocating resources.
The following table presents selected financial information with respect to the Company’s single operating segment (in thousands):

Fiscal Year Ended January 31,
202520242023
Revenue
$3,626,396 $2,806,489 $2,065,659 
Cost of revenue and operating expenses:
Cost of product revenue(1)(2)
992,069 701,200 547,547 
Cost of professional services and other revenue(2)
222,604 197,358 169,993 
Sales and marketing(2)
1,672,092 1,391,747 1,106,507 
Research and development(2)
1,783,379 1,287,949 788,058 
General and administrative(2)
412,262 323,008 295,821 
Interest income(209,009)(200,663)(73,839)
Interest expense2,759 — — 
Other (income) expense, net
35,339 (44,887)47,565 
Provision for (benefit from) income taxes4,113 (11,233)(18,467)
Net loss$(1,289,212)$(837,990)$(797,526)
________________
(1)For the fiscal years ended January 31, 2025, 2024, and 2023, respectively, approximately 65%, 67%, and 71% of cost of product revenue represented third-party cloud infrastructure expenses incurred in connection with the customers’ use of the Snowflake platform and the deployment and maintenance of the platform on public clouds, including different regional deployments.
(2)For the fiscal years ended January 31, 2025, 2024, and 2023, respectively, approximately 37%, 38%, and 38% of the Company’s total cost of revenue and operating expenses were comprised of personnel-related expenses, excluding stock-based compensation and associated payroll taxes. These expenses consist primarily of salaries, benefits, bonuses, sales commissions and draws paid to the Company’s sales force and certain referral fees paid to third parties, including amortization of deferred commissions, and associated payroll taxes. They also include salaries, benefits and bonuses allocated as part of overhead costs. See Note 12, “Equity,” for details regarding the Company’s stock-based compensation.

The measure of segment assets is the total assets on the Company’s consolidated balance sheets. See the Company’s consolidated financial statements for other financial information regarding its operating segment.

For information regarding the Company’s revenue by geographic area, see Note 3, “Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations.”

The following table presents the Company’s long-lived assets, comprising property and equipment, net and operating lease right-of-use assets, by geographic area (in thousands):

January 31, 2025January 31, 2024
United States$536,885 $379,664 
Other(1)
118,947 119,928 
Total$655,832 $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 January 31, 2025 and 2024.

Use of Estimates

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

Concentration of Credit Risk

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

Foreign Currency

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

Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured to the functional currency at period-end exchange rates. Foreign currency transaction gains and losses resulting from remeasurement are recognized in other income (expense), net in the consolidated statements of operations, and have not been material for any of the periods presented.

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

Revenue Recognition

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

The Company delivers its platform over the internet as a service. Customers choose to consume the platform under either capacity arrangements, in which customers commit to a certain amount of consumption at specified prices, or under on-demand arrangements, in which the Company charges for use of the platform monthly in arrears. Under capacity arrangements, from which a majority of revenue is derived, the Company typically bills its customers annually in advance of their consumption. Revenue from on-demand arrangements typically relates to customers with lower usage levels or overage consumption beyond a customer’s contracted usage amount under a capacity contract or following the expiration of a customer’s capacity contract. Revenue from on-demand arrangements represented approximately 2%, 3%, and 2% of the Company’s revenue for the fiscal years ended January 31, 2025, 2024, and 2023, respectively. The Company recognizes revenue as customers consume compute, storage, and data transfer resources under either of these arrangements. In limited instances, customers pay an annual deployment fee to gain access to a dedicated instance of a virtual private deployment. Deployment fees are recognized ratably over the contract term.

Customers do not have the contractual right to take possession of the Company’s platform. Pricing for the platform includes embedded support services, data backup and disaster recovery services, as well as future updates, when and if available, offered during the contract term.

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

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

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

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

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

2) Identify the performance obligations in the contract. Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract. 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. The Company treats its virtual private deployments for customers, professional services, technical solution services, and training each as a separate and distinct performance obligation. Some customers have negotiated an option to purchase additional capacity at a stated discount. These options generally do not provide a material right as they are priced at the Company’s SSP, as described below, as the stated discounts are not incremental to the range of discounts typically given.

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

5) Recognize revenue when or as the Company satisfies a performance obligation. Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised service to a customer. Revenue is recognized when control of the services is transferred to the customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those services. The Company determined an output method 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.

Allocation of Overhead Costs

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

Cost of Revenue

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

Research and Development Costs

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

Advertising Costs

Advertising costs, excluding expenses associated with the Company’s user conferences, are expensed as incurred and are included in sales and marketing expenses in the consolidated statements of operations. These costs were $104.5 million, $85.3 million, and $68.2 million for the fiscal years ended January 31, 2025, 2024, and 2023, respectively.
Income Taxes

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

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

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

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

Stock-Based Compensation

The Company’s equity awards include stock options, restricted stock unit awards (RSUs), restricted common stock granted to employees, non-employee directors, and other service providers, and stock purchase rights granted under the Employee Stock Purchase Plan (ESPP Rights) to employees. Equity awards are reviewed in determining whether such awards are equity-classified or liability-classified.

Stock-based compensation related to equity-classified awards is measured based on the estimated fair value of the awards on the date of grant and generally recognized on a straight-line basis over the requisite service period. The fair value of each stock option granted and ESPP Rights is estimated using the Black-Scholes option-pricing model. The determination of the grant-date fair value using an option-pricing model is affected by the estimated fair value of the Company’s common stock as well as assumptions regarding a number of other complex and subjective variables. These variables include expected stock price volatility over an expected term, actual and projected employee stock option exercise behaviors, the risk-free interest rate for an expected term, and expected dividends. The fair value of each RSU is based on the fair value of the Company’s common stock on the date of grant. For equity-classified awards with both service-based and performance-based vesting conditions, the stock-based compensation is recognized using an accelerated attribution method over the requisite service period, based on the Company’s periodic assessment of the probability that the performance condition will be achieved.
Certain RSUs with both service-based and performance-based vesting conditions are liability-classified, as the monetary value of the obligation under each potential outcome of the performance condition is predominantly based on a fixed monetary amount known at inception and will be settled in a variable number of the Company’s common stock. The fair value of these awards is estimated using the Monte Carlo simulation model, which requires the use of various assumptions, including the expected stock price volatility and risk-free interest rate. These awards are subsequently remeasured to the fair value at each reporting date until the number of these awards eligible to vest is fixed, at which time these awards will be reclassified to equity. Stock-based compensation associated with these awards is recognized based on the probable outcome of the performance condition, using an accelerated attribution method over the requisite service period, with a cumulative catch-up adjustment recognized for changes in the fair value estimated at each reporting date.

If an award contains a provision whereby vesting is accelerated upon a change in control, such a change in control is considered to be outside of the Company’s control and is not considered probable until it occurs. Forfeitures are accounted for in the period in which they occur.

During the fiscal year ended January 31, 2023, the Company began funding withholding taxes due upon the vesting of employee RSUs in certain jurisdictions by net share settlement, rather than its previous approach of selling shares of the Company’s common stock. The amount of withholding taxes related to net share settlement of employee RSUs is reflected as (i) a reduction to additional paid-in-capital, and (ii) cash outflows for financing activities when the payments are made. The shares withheld by the Company as a result of the net share settlement of RSUs are not considered issued and outstanding, and do not impact the calculation of basic net income (loss) per share attributable to Snowflake Inc. Class A common stockholders.

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

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, ESPP Rights, early exercised stock options, and shares underlying the conversion option in the convertible senior notes 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.

Cash and Cash Equivalents

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

Restricted Cash

Restricted cash primarily consists of (i) cash held in a trust that is restricted for use in meeting the Company's general obligations and (ii) collateralized letters of credit established in connection with lease agreements for the Company’s facilities. Restricted cash is classified within prepaid expenses and other current assets or other assets on the consolidated balance sheets, typically based on the remaining term of the restriction.
Investments

The Company’s investments in marketable debt securities have been classified and accounted for as available-for-sale and are recorded at estimated fair value. The Company classifies its marketable debt securities as either short-term or long-term at each balance sheet date based on each instrument’s underlying contractual maturity date. Short-term investments are investments with original maturities of less than one year when purchased. Purchase premiums and discounts are amortized or accreted using the effective interest method over the life of the related security and such amortization and accretion are included in interest income in the consolidated statements of operations.

For available-for-sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell or it is more likely than not that the Company will be required to sell the security before the recovery of its entire amortized cost basis. If either of these criteria is met, the security’s amortized cost basis is written down to fair value through other income (expense), net in the consolidated statements of operations. If neither of these criteria is met, the Company further assesses whether the decline in fair value below amortized cost is due to credit or non-credit related factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and any adverse conditions specifically related to the security, among other factors. Credit-related unrealized losses are recognized as an allowance on the consolidated balance sheets with a corresponding charge in the other income (expense), net in the consolidated statements of operations. Non-credit related unrealized losses and unrealized gains on available-for-sale debt securities are included in accumulated other comprehensive income (loss).

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

Strategic Investments

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

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

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

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

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

The Company’s primary financial instruments include cash equivalents, investments in marketable securities, strategic investments, restricted cash, accounts receivable, derivative assets and liabilities, accounts payable, accrued expenses, and convertible senior notes. The carrying amounts of accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term nature. See Note 5, “Fair Value Measurements,” and Note 10, “Convertible Senior Notes,” for information regarding the fair value of the Company’s cash equivalents and investments in marketable securities, strategic investments, and derivative assets and liabilities, as well as the fair value of the Company’s convertible senior notes.

Derivative Financial Instruments

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

Non-Designated Hedges—The Company utilizes foreign currency forward contracts to manage its exposure to certain foreign currency exchange risks primarily associated with (i) a portion of its net outstanding monetary assets and liabilities positions and (ii) certain intercompany balances denominated in currencies other than the U.S. dollar. These foreign currency forward contracts have maturities of twelve months or less and are not designated as hedging instruments (Non-Designated Hedges). As such, all changes in the fair value of these derivative instruments are recorded in other income (expense), net on the consolidated statements of operations, and are intended to offset the foreign currency transaction gains or losses associated with the underlying balances being hedged. Cash flows at settlement of such foreign currency forward contracts are classified as operating activities in the consolidated statement of cash flows.

Cash Flow Hedge—The Company also utilizes foreign currency forward contracts to manage the volatility in cash flows associated with (i) certain forecasted capital expenditures and (ii) a portion of its forecasted operating expenses denominated in certain currencies other than the U.S. dollar. These foreign currency forward contracts have a maturity of twelve months or less and are designated and qualify as cash flow hedges, and, in general, closely match the underlying hedged forecasted transactions in duration. The effectiveness of the cash flow hedges is assessed quantitatively using regression at inception and at each reporting date. The effective portion of these foreign currency forward contracts’ gains and losses resulting from changes in fair value is recorded in accumulated other comprehensive income (loss) on the consolidated balance sheets, and subsequently reclassified into the same line items on the Company’s consolidated statements of operations as the underlying hedged forecasted transactions in the same period that such transactions affect earnings. In the event the underlying forecasted transactions do not occur, or it becomes probable that they will not occur within the defined hedge period, the gains or losses on the related cash flow hedges are reclassified immediately from accumulated other comprehensive income (loss) to net income (loss) in the Company’s consolidated financial statements. Cash flows from such foreign currency forward contracts are classified in the same category on the Company’s consolidated statements of cash flows as the cash flows from the underlying hedged forecasted transactions.

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

Accounts Receivable, Net

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

The Company capitalizes qualifying internal-use software development costs, primarily related to its cloud platform. The costs consist of personnel costs (including related benefits and stock-based compensation) that are incurred during the application development stage. Capitalization of costs begins when two criteria are met: (1) the preliminary project stage is completed, and (2) it is probable that the software will be completed and used for its intended function. Capitalization ceases when the software is substantially complete and ready for its intended use, including the completion of all significant testing. Costs related to preliminary project activities and post-implementation operating activities are expensed as incurred.

Capitalized costs are included in property and equipment, net on the consolidated balance sheets. These costs are amortized over the estimated useful life of the software, which is three years, on a straight-line basis. Cost and accumulated amortization of fully amortized capitalized internal-use software development costs are removed from the Company’s consolidated balance sheets when the related software is no longer in use. The amortization of capitalized costs related to the Company’s platform applications is primarily included in cost of revenue in the consolidated statements of operations.

Property and Equipment, Net

Property and equipment, net is stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful life of the related asset, ranging from generally three to seven years. Leasehold improvements are amortized over the shorter of estimated useful life or the remaining lease term. Expenses that improve an asset or extend its remaining useful life are capitalized. Costs of maintenance or repairs that do not extend the lives of the respective assets are charged to expenses as incurred. Cost and accumulated depreciation and amortization of fully depreciated property and equipment are removed from the Company’s consolidated balance sheets when they are no longer in use.

Deferred Commissions

The Company capitalizes incremental costs of obtaining a contract with a customer if such costs are recoverable. Such costs consist primarily of (i) sales commissions earned upon the origination, expansion, or renewal of customer contracts by the Company’s sales force, and the associated payroll taxes and fringe benefits, and (ii) certain referral fees earned by third parties (collectively, Commission Costs). Commission Costs for new customer or customer expansion contracts that are not commensurate with those for renewal contracts are capitalized and then amortized over a period of benefit determined to be five years. The Company determined the period of benefit by taking into consideration the length of terms in its customer contracts, life of the technology, and other factors. Commission Costs for renewal contracts, as well as Commission Costs for new customer or customer expansion contracts that are commensurate with those for renewal contracts, are capitalized and then amortized over the respective weighted-average contractual term of the related contracts. Amounts expected to be amortized within one year of the balance sheet date are recorded as deferred commissions, current, and the remaining portion is recorded as deferred commissions, non-current, on the consolidated balance sheets. Amortization expense is included in sales and marketing expenses in the consolidated statements of operations. In addition to the Commission Costs, the Company’s sales force earns sales commissions based on the level of the customers’ consumption of the Company’s platform. These commissions are not considered incremental costs and are expensed in the same period as they are earned. Deferred commissions are periodically analyzed for impairment. There were no impairment losses relating to the deferred commissions for all periods presented.

Leases

The Company determines if an arrangement is or contains a lease at inception by evaluating various factors, including if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration and other facts and circumstances. Lease classification is determined at the lease commencement date. Operating leases are included in operating lease right-of-use assets, operating lease liabilities, current, and operating lease liabilities, non-current on the consolidated balance sheets. The Company did not have any material finance leases for all periods presented.
Right-of-use assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease payments consist primarily of the fixed payments under the arrangement, less any lease incentives. Variable lease payments are expensed as incurred and include certain non-lease components, such as maintenance and other services provided by the lessor to the extent the charges are variable. The Company uses an estimate of its incremental borrowing rate (IBR) based on the information available at the lease commencement date in determining the present value of lease payments, unless the implicit rate is readily determinable. In determining the appropriate IBR, the Company considers various factors, including, but not limited to, its credit rating, the lease term, and the currency in which the arrangement is denominated. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

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

In addition, the Company subleases certain of its unoccupied facilities to third parties. The assessment of impairment of the associated right-of-use assets, leasehold improvements, or other assets as a result of a sublease is performed upon triggering events, including but not limited to the execution of a sublease agreement. The Company recognizes sublease income on a straight-line basis over the sublease term. Sublease income is recorded as a reduction to the Company’s operating lease costs.

Business Combinations

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

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

The Company’s long-lived assets with finite lives consist primarily of property and equipment, capitalized internal-use software development software costs, operating lease right-of-use assets and acquired intangible assets.

Long-lived assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets held and used is measured by comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset exceeds these estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the assets exceeds the fair value of the asset or asset group.

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

The Company accounts for each series of its convertible senior notes as a liability in its entirety, measured at amortized cost. Debt issuance costs incurred in connection with the issuance of the Company’s convertible senior notes are reflected in the consolidated balance sheets as a direct deduction from the carrying amount of the outstanding convertible senior notes. These costs are amortized using the effective interest rate method over the terms of the convertible senior notes and are included within interest expense on the consolidated statements of operations.

In connection with the convertible senior notes offering, the Company entered into privately negotiated capped call transactions relating to each series of convertible senior notes with certain counterparties. The capped call transactions are generally expected to reduce the potential dilution to the Company’s common stock upon any conversion of the relevant series of convertible senior notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted notes of such series, with such reduction and/or offset subject to a cap. See Note 10, “Convertible Senior Notes,” for further details.

Deferred Revenue

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

Recently Adopted Accounting Pronouncement

In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which expands segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit and loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This guidance also requires disclosures of the title and position of the CODM, and an explanation of how the CODM uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources. The Company adopted this guidance for its fiscal year ended January 31, 2025 on a retrospective basis. While the adoption had no impact on the Company’s consolidated financial statements, it resulted in additional disclosures in the accompanying notes. See further details under the heading “Segment Information” in this Note 2, “Basis of Presentation and Summary of Significant Accounting Policies.”

Recently Issued Accounting Pronouncements Not Yet Adopted

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 disclosures.
In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires disclosure, on an annual and interim basis, of specified information about certain costs and expenses in the notes to financial statements. This guidance is effective for the Company for its fiscal year beginning February 1, 2027 and interim periods within its fiscal year beginning February 1, 2028 on either a prospective or retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its disclosures.
v3.25.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
 12 Months Ended
Jan. 31, 2025
Revenue Recognition and Deferred Revenue [Abstract]  
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
Disaggregation of Revenue

Revenue consists of the following (in thousands):

Fiscal Year Ended January 31,
202520242023
Product revenue$3,462,422 $2,666,849 $1,938,783 
Professional services and other revenue163,974 139,640 126,876 
Total$3,626,396 $2,806,489 $2,065,659 

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

Fiscal Year Ended January 31,
202520242023
Americas:
United States$2,761,664 $2,166,448 $1,633,843 
Other Americas(1)
101,943 72,784 46,577 
EMEA(1)(2)
574,748 432,634 292,666 
Asia-Pacific and Japan(1)
188,041 134,623 92,573 
Total$3,626,396 $2,806,489 $2,065,659 
________________
(1)No individual country in these areas represented more than 10% of the Company’s revenue for all periods presented.
(2)Includes Europe, the Middle East and Africa.

Accounts Receivable, Net

As of January 31, 2025 and 2024, allowance for credit losses of $4.8 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 January 31, 2025 and 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 fiscal years ended January 31, 2025, 2024, and 2023.

Deferred Revenue

The Company recognized $1.8 billion, $1.4 billion, and $974.3 million of revenue for the fiscal years ended January 31, 2025, 2024, and 2023, respectively, from the deferred revenue balances as of January 31, 2024, 2023, and 2022, respectively.
Remaining Performance Obligations

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

As of January 31, 2025, the Company’s RPO was $6.9 billion, of which the Company expects approximately 48% to be recognized as revenue in the twelve months ending January 31, 2026 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.
v3.25.1
Cash Equivalents and Investments
 12 Months Ended
Jan. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Investments Cash Equivalents and Investments
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the consolidated balance sheets (in thousands):

January 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,741,089 $— $— $1,741,089 
U.S. government securities388,578 92 — 388,670 
Time deposits113,851 — — 113,851 
Corporate notes and bonds4,466 — — 4,466 
Commercial paper3,064 — — 3,064 
Total cash equivalents2,251,048 92 — 2,251,140 
Investments:
Corporate notes and bonds1,559,893 2,177 (1,520)1,560,550 
U.S. government and agency securities609,937 528 (727)609,738 
Commercial paper307,752 142 (38)307,856 
Certificates of deposit187,112 97 (4)187,205 
Total investments2,664,694 2,944 (2,289)2,665,349 
Total cash equivalents and investments$4,915,742 $3,036 $(2,289)$4,916,489 
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 equivalents
1,331,709 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 $23.6 million and $24.2 million of interest receivable in prepaid expenses and other current assets on the consolidated balance sheets as of January 31, 2025 and 2024, respectively. The Company did not recognize an allowance for credit losses against interest receivable as of January 31, 2025 and 2024 because such potential losses were not material.

As of January 31, 2025, the contractual maturities of the Company’s available-for-sale marketable debt securities did not exceed 36 months. The estimated fair values of available-for-sale marketable debt securities, classified as short-term or long-term investments on the Company’s consolidated balance sheets, by remaining contractual maturity, are as follows (in thousands):

January 31, 2025
Estimated
Fair Value
Due within 1 year$2,008,873 
Due in 1 year to 3 years
656,476 
Total$2,665,349 
The following tables show the fair values of, and the gross unrealized losses on, the Company’s available-for-sale marketable debt securities, classified by the length of time that the securities have been in a continuous unrealized loss position and aggregated by investment type, on the consolidated balance sheet as of January 31, 2024 (in thousands):

January 31, 2024
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
U.S. government securities$338,893 $(2)$— $— $338,893 $(2)
Total cash equivalents338,893 (2)— — 338,893 (2)
Investments:
Corporate notes and bonds625,766 (1,259)321,952 (2,135)947,718 (3,394)
U.S. government and agency securities525,408 (1,323)191,863 (3,330)717,271 (4,653)
Commercial paper172,422 (131)— — 172,422 (131)
Certificates of deposit71,813 (15)— — 71,813 (15)
Total investments1,395,409 (2,728)513,815 (5,465)1,909,224 (8,193)
Total cash equivalents and investments$1,734,302 $(2,730)$513,815 $(5,465)$2,248,117 $(8,195)

Gross unrealized losses on the Company’s available-for-sale marketable debt securities were not material as of January 31, 2025.

For available-for-sale marketable debt securities with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis. The decline in fair values of these securities due to credit related factors was not material as of January 31, 2025 and 2024.

See Note 5, “Fair Value Measurements,” for information regarding the Company’s strategic investments.
v3.25.1
Fair Value Measurements
 12 Months Ended
Jan. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

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

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

Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of January 31, 2025 (in thousands):

Level 1
Level 2
Total
Assets:
Cash equivalents:
Money market funds$1,741,089 $— $1,741,089 
U.S. government securities— 388,670 388,670 
Time deposits— 113,851 113,851 
Corporate notes and bonds— 4,466 4,466 
Commercial paper— 3,064 3,064 
Short-term investments:
Corporate notes and bonds— 1,059,181 1,059,181 
U.S. government and agency securities— 456,673 456,673 
Commercial paper— 307,856 307,856 
Certificates of deposit— 185,163 185,163 
Long-term investments:
Corporate notes and bonds— 501,369 501,369 
U.S. government and agency securities— 153,065 153,065 
Certificates of deposit— 2,042 2,042 
Derivative assets:
Foreign currency forward contracts— 1,579 1,579 
Total assets$1,741,089 $3,176,979 $4,918,068 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts$— $(1,639)$(1,639)
Total liabilities
$— $(1,639)$(1,639)
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.

See Note 10, “Convertible Senior Notes for the fair value measurement of the Company’s convertible senior notes, which is not included in the tables above.

Strategic Investments

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

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

January 31, 2025January 31, 2024
Equity securities:
Non-marketable equity securities under Measurement Alternative$281,158 $190,238 
Non-marketable equity securities under equity method5,491 5,307 
Marketable equity securities13,833 37,320 
Debt securities:
Non-marketable debt securities750 1,500 
Total strategic investments—included in other assets$301,232 $234,365 

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

Fiscal Year Ended January 31,
202520242023
Unrealized gains (losses) on non-marketable equity securities under Measurement Alternative:
Impairments$(11,578)$(3,101)$(38,036)
Upward adjustments— — 4,125 
Net unrealized gains (losses) on marketable equity securities
(2,428)15,197 (12,524)
Net unrealized gains (losses) on strategic investments in equity securities
(14,006)12,096 (46,435)
Net realized gains (losses) on strategic investments in equity securities(1)
(17,414)34,713 — 
Total—included in other income (expense), net$(31,420)$46,809 $(46,435)
________________
(1)The net realized gains on strategic investments in equity securities for the fiscal year ended January 31, 2024 include primarily a remeasurement gain of $34.0 million recognized on a previously held equity interest as a result of a business combination completed during fiscal 2024. See Note 7, “Business Combinations,” for further details. For strategic investments in equity securities sold, the realized gains or losses represent 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 January 31, 2025 were $18.3 million and $33.9 million, respectively.
v3.25.1
Property and Equipment, Net
 12 Months Ended
Jan. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

January 31, 2025January 31, 2024
Leasehold improvements$97,324 $67,804 
Computers, equipment, and software49,575 29,859 
Furniture and fixtures25,473 17,593 
Capitalized internal-use software development costs209,684 93,222 
Construction in progress—capitalized internal-use software development costs28,672 78,737 
Construction in progress—other39,106 34,890 
Total property and equipment, gross449,834 322,105 
Less: accumulated depreciation and amortization(1)
(153,441)(74,641)
Total property and equipment, net$296,393 $247,464 
________________
(1)Include $84.8 million and $30.0 million of accumulated amortization related to capitalized internal-use software development costs as of January 31, 2025 and 2024, respectively.

Depreciation and amortization expense was $85.6 million, $37.7 million, and $24.7 million for the fiscal years ended January 31, 2025, 2024, and 2023, respectively. Included in these amounts was the amortization of capitalized internal-use software development costs of $56.4 million, $19.0 million, and $10.2 million for the fiscal years ended January 31, 2025, 2024, and 2023, respectively.

Impairment charges related to capitalized internal-use software development costs recognized during each of the fiscal years ended January 31, 2025 and 2023 were not material. During the fiscal year ended January 31, 2024, the Company recognized impairment charges of $7.1 million related to its capitalized internal-use software development costs previously included in construction in-progress that were no longer probable of being completed. Such impairment charges were recorded as research and development expenses on the consolidated statements of operations.
v3.25.1
Business Combinations
 12 Months Ended
Jan. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Business Combinations Business Combinations
Fiscal 2025

Datavolo, Inc.

On November 25, 2024, the Company acquired all of the outstanding capital stock of Datavolo, Inc. (Datavolo), a privately-held company that built a dataflow infrastructure to support the creation, management, and observability of multimodal data pipelines for enterprise AI. The Company acquired Datavolo for its developed technology and talent. The Company has accounted for this transaction as a business combination.

The acquisition date fair value of the preliminary purchase consideration was $106.8 million, which was comprised of the following (in thousands):

Estimated Fair Value
Cash$19,096 
Common stock(1)
87,706 
Total
$106,802 
________________
(1)Approximately 0.5 million shares of the Company’s Class A common stock were included in the purchase consideration and the fair values of these shares were determined based on the closing market price of $171.42 per share on the acquisition date.
In connection with this business combination, the Company also issued to certain of Datavolo’s employees a total of 0.4 million shares of the Company’s Class A common stock in exchange for a portion of their Datavolo stock. These shares are subject to vesting agreements pursuant to which the shares will vest over four years, subject to each of these employees’ continued employment with the Company or its affiliates. The $64.6 million fair value of these shares is accounted for as post-combination stock-based compensation over the requisite service period of four years. See Note 12, “Equity,” for further discussion.

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

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents$5,916 
Short-term investments
7,734 
Goodwill65,893 
Developed technology intangible asset
35,000 5
Other net tangible liabilities
(968)
Deferred tax liabilities, net(1)
(6,773)
Total$106,802 
________________
(1)Deferred tax liabilities, net primarily relate to the intangible asset acquired and the amount presented is net of deferred tax assets.

The fair value of the developed technology intangible asset was estimated using the discounted cash flow method, which utilizes assumptions including projected future revenue generated from the acquired developed technology, projected profit margin, discount rate, and technology migration curve.

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

From the date of acquisition through January 31, 2025, revenue attributable to Datavolo, included in the Company’s consolidated statements of operations for the fiscal year ended January 31, 2025, was not material. It was impracticable to determine the effect on the Company’s net loss attributable to Datavolo as its operations have been integrated into the Company’s ongoing operations since the date of acquisition.

Other Fiscal 2025 Business Combinations

During the fiscal year ended January 31, 2025, the Company completed acquisitions of two privately-held companies for an aggregate of $19.2 million in cash. The Company has accounted for these transactions as business combinations. As a result of the preliminary allocation of the aggregate purchase consideration, based on the estimated fair values, the Company recorded a total of $4.4 million of a customer relationships intangible asset (to be amortized over an estimated useful life of five years), $4.1 million of developed technology intangible assets (to be amortized over estimated useful lives of five years), $3.5 million of net liabilities acquired, $0.6 million of deferred tax liabilities, and $14.8 million of goodwill, of which $8.3 million is deductible and $6.5 million is not deductible for income tax purposes.

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

Revenue and net loss attributable to each of the other fiscal 2025 business combinations, from their respective acquisition dates through January 31, 2025, were included in the Company’s consolidated statements of operations for the fiscal year ended January 31, 2025, and were not material.

Acquisition-related costs, recorded as general and administrative expenses, associated with each of the fiscal 2025 business combinations were not material during the fiscal year ended January 31, 2025.
Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information summarizes the combined results of operations of the Company and Datavolo, as if Datavolo had been acquired as of February 1, 2023 (in thousands):

Pro Forma
Fiscal Year Ended January 31,
20252024
(unaudited)
Revenue$3,626,424 $2,806,489 
Net loss$(1,324,805)$(844,814)

The pro forma financial information for all periods presented above has been calculated after adjusting the results of operations of Datavolo to reflect certain business combination effects, including the amortization of the acquired intangible asset, stock-based compensation, income tax impact, and acquisition-related costs incurred by the Company and Datavolo as though this business combination occurred as of February 1, 2023, the beginning of the Company’s fiscal 2024. The historical consolidated financial information in the unaudited pro forma table above has been adjusted in the pro forma combined financial results to give effect to pro forma events that are directly attributable to this 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, 2023.

Pro forma financial information for the other fiscal 2025 business combinations has not been presented, as the effects of each were not material to the Company’s consolidated financial statements.

Fiscal 2024

Samooha, Inc.

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

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

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

Estimated Fair Value
Cash$5,761 
Deferred cash consideration
231 
Common stock(1)
174,225 
Fair value of a previously held equity interest(2)
38,818 
Total
$219,035 
________________
(1)Approximately 0.9 million shares of the Company’s Class A common stock, issued to selling stockholders that were not affiliated with the Company, were included in the purchase consideration, and the fair values of these shares were determined based on the closing market price of $194.28 per share on the acquisition date.
(2)In connection with this business combination, the Company issued approximately 0.2 million shares of its Class A common stock to the Investing Subsidiary in exchange for the Previously Held Equity Interest. The fair values of these shares were determined based on the closing market price of $194.28 per share on the acquisition date. These shares were treated as treasury stock for accounting purposes as of January 31, 2024, and were subsequently transferred to the Company and retired during the fiscal year ended January 31, 2025.
In connection with this business combination, the Company also issued to certain of Samooha’s employees a total of 0.4 million shares of the Company’s Class A common stock in exchange for a portion of their Samooha stock. These shares are subject to vesting agreements pursuant to which the shares will vest over four years, subject to each of these employees’ continued employment with the Company or its affiliates. The $74.8 million fair value of these shares is accounted for as post-combination stock-based compensation over the requisite service period of four years. In addition, the Company agreed to grant under its 2020 Equity Incentive Plan certain RSUs that contain both post-combination service-based and performance-based vesting conditions to eligible existing or future employees. See Note 12, “Equity,” for further discussion.

The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition. During the fiscal year ended January 31, 2025, 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
$9,589 
Goodwill189,858 
Developed technology intangible asset
25,000 5
Other net tangible liabilities
(345)
Deferred tax liabilities, net(1)
(5,067)
Total$219,035 
________________
(1)Deferred tax liabilities, net primarily relate to the intangible asset acquired and the amount presented is net of deferred tax assets.

The fair value of the developed technology intangible asset was estimated using the discounted cash flow method, which utilizes assumptions including projected future revenue generated from the acquired developed technology, projected profit margin, discount rate, and technology migration curve.

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

Neeva Inc.

During the three months ended July 31, 2023, the Company acquired all of the outstanding capital 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 allocated to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition. During each of the fiscal years ended January 31, 2025 and 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 relate 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 of the outstanding capital 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 relate 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 of the outstanding capital 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 relate 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.

Other Fiscal 2024 Business Combination

During the fiscal year ended January 31, 2024, the Company acquired all of the outstanding capital stock of a privately-held company for $16.6 million in cash. The Company has accounted for this transaction as a business combination. In allocating the aggregate purchase consideration based on the estimated fair values, the Company recorded $1.6 million of cash acquired, $4.9 million as a developer community intangible asset (to be amortized over an estimated useful life of five years), and $10.1 million as goodwill, which is not deductible for income tax purposes.

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

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

Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information summarizes the combined results of operations of the Company, and both of Samooha and Neeva, as if each had been acquired as of February 1, 2022 (in thousands):
Pro Forma
Fiscal Year Ended January 31,
20242023
(unaudited)
Revenue$2,806,739 $2,065,730 
Net loss$(932,308)$(937,873)

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

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

Fiscal 2023

Applica Sp. z.o.o.

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

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

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash$61 
Goodwill146,444 
Developed technology intangible asset35,000 
5
Other net tangible liabilities(612)
Deferred tax liabilities, net(1)
(6,202)
Total$174,691 
________________
(1)Deferred tax liabilities, net primarily relate 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 generally not deductible for income tax purposes. The Company believes the goodwill balance associated with this business combination represents the synergies expected from expanded market opportunities when integrating the acquired developed technologies with the Company’s offerings.

Acquisition-related costs of $3.4 million associated with this business combination were recorded as general and administrative expenses during the fiscal year ended January 31, 2023.
Streamlit, Inc.

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

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

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

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

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

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

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

Acquisition-related costs of $1.9 million associated with this business combination were recorded as general and administrative expenses during the fiscal year ended January 31, 2023.
Other Fiscal 2023 Business Combination

During the fiscal year ended January 31, 2023, the Company acquired all of the outstanding capital stock of a privately-held company for $10.4 million in cash. The Company has accounted for this transaction as a business combination. In allocating the aggregate purchase consideration based on the estimated fair values, the Company recorded $2.0 million as a developed technology intangible asset (to be amortized over an estimated useful life of five years), $0.3 million of net tangible assets acquired, and $8.1 million as goodwill, which is not deductible for income tax purposes.

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

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

Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information summarizes the combined results of operations of the Company and the three companies acquired during fiscal 2023, as if each had been acquired as of February 1, 2021 (in thousands):

Pro Forma
Fiscal Year Ended January 31, 2023
(unaudited)
Revenue$2,067,262 
Net loss$(866,099)

The pro forma financial information for the period presented above has been calculated after adjusting the results of operations of these three acquired companies to reflect certain business combination effects, including the amortization of the acquired intangible asset, stock-based compensation, income tax impact, and acquisition-related costs incurred by the Company and these three acquired companies as though these business combinations occurred as of February 1, 2021, the beginning of the Company’s fiscal 2022. The historical consolidated financial information in the unaudited pro forma tables above has been adjusted in the pro forma combined financial results to give effect to pro forma events that are directly attributable to these business combinations, reasonably estimable, and factually supportable. The pro forma financial information is for informational purposes only and is not indicative of the results of operations that would have been achieved if these business combinations had taken place as of February 1, 2021.
v3.25.1
Intangible Assets and Goodwill
 12 Months Ended
Jan. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
Intangible Assets, Net
Intangible assets, net consisted of the following (in thousands):

January 31, 2025
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$277,063 $(92,033)$185,030 
Developer community154,900 (86,472)68,428 
Assembled workforce55,732 (36,929)18,803 
Patents8,874 (8,005)869 
Customer relationships
4,400 (328)4,072 
Total finite-lived intangible assets$500,969 $(223,767)$277,202 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$278,028 

January 31, 2024
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$243,596 $(47,919)$195,677 
Developer community
154,900 (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 

Intangible assets are primarily acquired through business combinations. See Note 7, “Business Combinations,” for further details. In addition, during the fiscal year ended January 31, 2024, the Company also acquired $27.5 million of intangible assets, primarily consisting of assembled workforce intangible assets with a useful life of four years.

Amortization expense of intangible assets was $96.9 million, $82.2 million, and $38.8 million for the fiscal years ended January 31, 2025, 2024, and 2023, respectively. Cost and accumulated amortization of fully amortized intangible assets are removed from the Company's consolidated balance sheets when they are no longer in use.
As of January 31, 2025, future amortization expense is expected to be as follows (in thousands):

Amount
Fiscal Year Ending January 31,
2026$97,208 
202793,056 
202860,490 
202919,851 
20306,597 
Thereafter— 
Total$277,202 
Goodwill

Changes in goodwill were as follows (in thousands):

Amount
Balance—January 31, 2023
$657,370 
Additions and related adjustments(1)
318,536 
Balance—January 31, 2024
975,906 
Additions and related adjustments(1)
80,653 
Balance—January 31, 2025
$1,056,559 
________________
(1)Include measurement period adjustments related to the fair values of the assets acquired and liabilities assumed in business combinations. These adjustments did not have material impacts on goodwill. See Note 7, “Business Combinations,” for further details.
v3.25.1
Accrued Expenses and Other Current Liabilities
 12 Months Ended
Jan. 31, 2025
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):

January 31, 2025January 31, 2024
Accrued compensation$194,630 $205,056 
Accrued third-party cloud infrastructure expenses77,944 48,571 
Employee contributions under employee stock purchase plan46,576 40,641 
Liabilities associated with sales, marketing and business development programs44,017 39,571 
Accrued taxes25,819 37,108 
Employee payroll tax withheld on employee stock transactions14,025 22,479 
Accrued professional services14,005 9,274 
Accrued purchases of property and equipment9,896 4,508 
Other88,542 39,652 
Total accrued expenses and other current liabilities$515,454 $446,860 
v3.25.1
Convertible Senior Notes
 12 Months Ended
Jan. 31, 2025
Debt Disclosure [Abstract]  
Convertible Senior Notes Convertible Senior Notes
In September 2024, the Company issued an aggregate principal amount of $2.3 billion of convertible senior notes in a private placement to qualified institutional buyers, comprising of (i) $1.15 billion aggregate principal amount of 0% convertible senior notes due 2027 (2027 Notes) and (ii) $1.15 billion aggregate principal amount of 0% convertible senior notes due 2029 (2029 Notes, and together with the 2027 Notes, the Notes). Each series of Notes was issued pursuant to separate indentures, as supplemented (each an Indenture and together, the Indentures), between the Company and U.S. Bank Trust Company, National Association, as trustee.
The Notes are general, senior unsecured obligations of the Company. The 2027 Notes will mature on October 1, 2027 and the 2029 Notes will mature on October 1, 2029, in each case unless earlier converted, redeemed, or repurchased. Neither the 2027 Notes nor the 2029 Notes bear regular interest, and the principal amount of the Notes will not accrete. The Company may elect or be required to pay special interest on the Notes under certain circumstances in accordance with the terms of the applicable Indenture. Special interest, if any, will be payable semiannually in arrears on April 1 and October 1 of each year, beginning on April 1, 2025. The total proceeds from the issuance of the Notes were approximately $2.27 billion, net of $31.2 million of debt issuance costs.

The following table presents the details of each series of Notes:

Initial Conversion Rate per $1,000 principal
Initial Conversion Price
Initial number of shares
(in thousands)
2027 Notes
6.3492$157.50 7,302 
2029 Notes
6.3492$157.50 7,302 

The conversion rate for each series of Notes is subject to adjustment under certain circumstances in accordance with the terms of the applicable Indenture. In addition, following certain corporate events that occur prior to the maturity date of the relevant series of Notes or if the Company delivers a notice of redemption in respect of a series of Notes, the Company will, in certain circumstances, increase the conversion rate of the relevant series of Notes for a holder who elects to convert its Notes of the applicable series in connection with such a corporate event or convert its Notes called (or deemed called) for redemption during the related redemption period (as defined in the applicable Indenture), as the case may be.

Holders may convert all or any portion of the 2027 Notes and 2029 Notes at their option at any time prior to the close of business on the business day immediately preceding July 1, 2027 and July 1, 2029, respectively, in each case only upon satisfaction of one or more of the following conditions:

(1) during any fiscal quarter commencing after the fiscal quarter ending on January 31, 2025 (and only during such fiscal quarter), if the last reported sale price of the Company’s Class A common stock, par value $0.0001 per share, for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price for the relevant series of Notes on each applicable trading day;

(2) during the five business day period after any ten consecutive trading day period (Measurement Period) in which the trading price (as defined in the Indentures) per $1,000 principal amount of the 2027 Notes or the 2029 Notes, as applicable, for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price of the Company’s Class A common stock and the conversion rate for such Notes on each such trading day;

(3) if the Company calls the relevant series of Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date, but only with respect to the Notes called (or deemed called) for redemption; or

(4) upon the occurrence of specified corporate events as set forth in the applicable Indenture.

On or after July 1, 2027, in the case of the 2027 Notes, and on or after July 1, 2029, in the case of the 2029 Notes, until the close of business on the second scheduled trading day immediately preceding the relevant maturity date, holders of the relevant series of Notes may convert all or any portion of their Notes of such series at any time, regardless of the foregoing conditions.

Upon conversion, the Company may satisfy its conversion obligation by paying or delivering, as the case may be, cash, shares of the Company’s Class A common stock or a combination of both, at the Company’s election, in the manner and subject to the terms and conditions provided in the applicable Indenture.
The Company may, at its option, redeem for cash all or any portion of the 2027 Notes (subject to the partial redemption limitation set forth in the Indenture governing the 2027 Notes), on or after April 6, 2026 if the last reported sale price of the Company’s Class A common stock has been at least 150% of the conversion price then in effect for the 2027 Notes for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2027 Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date. The Company may, at its option, redeem for cash all or any portion of the 2029 Notes (subject to the partial redemption limitation set forth in the Indenture governing the 2029 Notes), on or after October 6, 2027 if the last reported sale price of the Company’s Class A common stock has been at least 130% of the conversion price then in effect for the 2029 Notes for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2029 Notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date. No sinking fund is provided for the Notes.

If the Company undergoes a fundamental change (as defined in the applicable Indenture) prior to the maturity date of a series of Notes, then, subject to certain conditions and except as set forth in the applicable Indenture, holders of the relevant series of Notes may require the Company to repurchase for cash all or any portion of their Notes of such series at a fundamental change repurchase price equal to 100% of the principal amount of the relevant series of Notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the relevant fundamental change repurchase date.

Each of the Indentures governing the 2027 Notes or the 2029 Notes includes customary covenants and sets forth certain events of default after which the relevant series of Notes may be declared immediately due and payable and sets forth certain types of bankruptcy or insolvency events of default (as defined in the applicable Indenture) involving the Company after which such Notes become automatically due and payable.

Each series of Notes is accounted for as a liability in its entirety, measured at amortized cost. The debt issuance costs for each series of the Notes are amortized to interest expense using the effective interest method over their respective terms, with effective interest rates of 0.04% for the 2027 Notes and 0.02% for the 2029 Notes.

The following table presents the net carrying values and fair values of each series of Notes as of January 31, 2025 (in thousands):

Principal
Unamortized Debt Issuance Costs
Net Carrying Value
Fair Value
Amount
Leveling
2027 Notes
$1,150,000 $13,890 $1,136,110 $1,509,295 Level 2
2029 Notes
$1,150,000 $14,581 $1,135,419 $1,539,068 Level 2

The fair value was determined based on the quoted prices of the Notes in an inactive market on the last traded day of the fiscal quarter and has been classified as Level 2 in the fair value hierarchy.

Amortization of debt issuance costs was not material for the fiscal year ended January 31, 2025.

The Company used a portion of the net proceeds from the offering to (i) pay the $195.5 million cost of the privately negotiated capped call transactions relating to each series of the Notes, as described below, and (ii) repurchase $399.6 million of its Class A common stock from purchasers of the Notes in the offering in privately negotiated transactions entered into in connection with the Notes offering at a purchase price of $112.50 per share. See Note 12, “Equity,” for further details.
Capped Call Transactions

In connection with the Notes offering, the Company entered into privately negotiated capped call transactions relating to each series of Notes (Capped Calls) with certain of the initial purchasers or affiliates thereof and certain other financial institutions. The Capped Calls are generally expected to reduce the potential dilution to the Company’s Class A common stock upon any conversion of the relevant series of the Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted Notes of such series, as the case may be, with such reduction and/or offset subject to a cap based on a cap price initially equal to $225.00 per share.

The following table sets forth other key terms and premiums paid for the Capped Calls related to each series of Notes (in thousands, except per share data):

Capped Calls Entered into in Connection with the Offering of the 2027 Notes
Capped Calls Entered into in Connection with the Offering of the 2029 Notes
Initial number of shares covered, subject to certain adjustments
7,302 7,302 
Initial strike price, subject to certain adjustments
$157.50 $157.50 
Initial cap price, subject to certain adjustments
$225.00 $225.00 
Total premium paid
$94,300 $101,200 

The Capped Calls are separate transactions, and not part of the terms of any series of Notes. As the Capped Calls qualify for a scope exception from derivative accounting for instruments that are both indexed to the issuer’s own stock and classified in stockholders’ equity, the premiums paid for the purchases of the Capped Calls was recorded as a reduction to the additional paid-in capital and will not be remeasured as long as they continue to meet the conditions for equity classification.

The Company elected to integrate the Capped Calls with the Notes for income tax purposes pursuant to applicable U.S. Treasury Regulations. Accordingly, the premiums paid for the purchases of the Capped Calls are deductible for income tax purposes over the term of the Notes.
v3.25.1
Commitment and Contingencies
 12 Months Ended
Jan. 31, 2025
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 addition, the Company subleases certain of its unoccupied facilities to third parties with various expiration dates through fiscal 2030. Such subleases have all been classified as operating leases.

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

Fiscal Year Ended January 31,
202520242023
Operating lease costs$59,943 $52,892 $46,240 
Variable lease costs14,477 11,667 7,906 
Sublease income(7,539)(11,943)(12,782)
Total lease costs$66,881 $52,616 $41,364 
Supplemental cash flow information and non-cash activity related to the Company’s operating leases were as follows (in thousands):

Fiscal Year Ended January 31,
202520242023
Cash payments included in the measurement of operating lease liabilities—operating cash flows
$47,711 $40,498 $42,342 
Operating lease liabilities arising from obtaining right-of-use assets$148,181 $56,037 $72,158 

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

January 31, 2025January 31, 2024
Weighted-average remaining lease term (years)
7.77.5
Weighted-average discount rate
6.2 %6.1 %

The total remaining lease payments under non-cancelable operating leases and lease receipts for subleases as of January 31, 2025 were as follows (in thousands):

Operating Leases
Subleases
Total
Fiscal Year Ending January 31,
2026$22,278 $(5,774)$16,504 
202770,409 (5,960)64,449 
202873,003 (6,153)66,850 
202961,339 (6,351)54,988 
203069,728 (3,235)66,493 
Thereafter260,669 — 260,669 
Total lease payments (receipts)
$557,426 $(27,473)$529,953 
Less: imputed interest(143,685)
Present value of operating lease liabilities$413,741 

Lease payments presented above exclude $47.8 million of legally-binding lease commitments, net of tenant incentives expected to be received, for leases signed but not yet commenced as of January 31, 2025. These leases will commence on various dates starting in fiscal 2026 with lease terms ranging from 5.3 years to 12.8 years.

Other Contractual Commitments

Other contractual commitments relate mainly to third-party cloud infrastructure agreements and subscription arrangements used to facilitate the Company’s operations at the enterprise level.
Future minimum payments under the Company’s non-cancelable purchase commitments with a remaining term in excess of one year as of January 31, 2025 are presented in the table below (in thousands):

Amount
Fiscal Year Ending January 31,
2026$569,771 
2027577,133 
2028655,709 
2029964,554 
(1)(2)
2030 and thereafter— 
Total$2,767,167 
________________
(1)Includes $755.3 million of remaining non-cancelable contractual commitments as of January 31, 2025 related to one of the Company’s third-party cloud infrastructure agreements, under which the Company committed to spend an aggregate of at least $1.0 billion between June 2023 and May 2028 with no minimum purchase commitment during any year. The Company is required to pay the difference if it fails to meet the minimum purchase commitment by May 2028 and such payment can be applied to qualifying expenditures for cloud infrastructure services for up to twelve months after May 2028.
(2)Also includes $208.3 million of remaining non-cancelable contractual commitments as of January 31, 2025 related to another one of the Company’s third-party cloud infrastructure agreements, under which the Company committed to spend an aggregate of at least $250.0 million between January 2024 and December 2028 with no minimum purchase commitment during any year. The Company is required to pay the difference if it fails to meet the minimum purchase commitment by December 2028.

401(k) Plan—The Company sponsors a 401(k) defined contribution plan covering all eligible U.S. employees. Contributions to the 401(k) plan are discretionary. The Company did not make any matching contributions to the 401(k) plan for each of the fiscal years ended January 31, 2025, 2024, and 2023.

Legal Matters—On March 23, 2021, a former employee filed a charge with the National Labor Relations Board (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 on the Company’s consolidated balance sheets as of January 31, 2025 and 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.

On February 29, 2024, a stockholder class action lawsuit was filed against the Company, the Company’s former Chief Executive Officer, and the Company’s Chief Financial Officer in the United States District Court in the Northern District of California, alleging violations under Sections 10(b) and 20(a) of the Exchange Act. The complaint seeks an unspecified amount of damages, attorneys’ fees, expert fees, and other costs. On October 28, 2024, an amended complaint was filed by the lead plaintiff. On December 23, 2024, the Company filed a motion to dismiss the amended complaint. On January 29, 2025, the lead plaintiff informed the Company that it would seek leave to file a second amended complaint rather than respond to the motion to dismiss. On February 7, 2025, the Court ordered the lead plaintiff to file a second amended complaint by April 7, 2025. The Company plans to file a motion to dismiss the second amended complaint on or before the responsive pleading deadline. In addition, since the filing of the class action lawsuit, four additional complaints containing securities derivative claims have been filed against the Company and certain of the Company’s directors and executive officers alleging similar violations. The derivative claims have been stayed pending resolution of the anticipated motion to dismiss the class action lawsuit. The Company is unable to estimate any reasonably possible loss, or range of loss, with respect to these matters at this time. The Company and the other defendants intend to vigorously defend against the claims in these actions.
On June 13, 2024, a class action was filed in the United States District Court for the District of Montana against the Company alleging that the Company failed to take reasonable measures to secure systems that contained consumer data, thereby allowing threat actors to access and exfiltrate personally identifiable information. In the months that followed, numerous additional class actions making the same or similar allegations were filed in the United States and Canada against the Company and/or customers whose consumer or employee data was exfiltrated. Among other claims, the complaints assert common law claims for negligence, breach of fiduciary duty, breach of implied contract, and unjust enrichment, as well as statutory claims, and seek an unspecified amount of damages, attorneys’ fees and costs, as well as injunctive relief. On October 4, 2024, an order was issued by the United States Judicial Panel on Multidistrict Litigation combining the class actions filed in the United States into a multidistrict litigation in the District of Montana. On February 3, 2025, plaintiffs filed their representative complaint. On March 11, 2025, plaintiffs were granted up to and including March 21, 2025 to file an amended representative complaint to address pleading deficiencies identified by defendants. Defendants, including the Company, are required to respond, which response may include moving to dismiss or compel arbitration, within 35 days of the filing of any amended representative complaint. In addition to the multidistrict litigation, two class actions are pending in the United States District Court for the Central District of California and the Supreme Court of British Columbia, respectively. The Company is unable to estimate any reasonably possible loss, or range of loss, with respect to these matters at this time. The Company intends to vigorously defend against the claims in these actions.

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

Letters of Credit—As of January 31, 2025, the Company had a total of $15.6 million in cash collateralized letters of credit outstanding, substantially in favor of certain landlords for the Company’s leased facilities. These letters of credit renew annually and expire at various dates through fiscal 2033.

Indemnification—The Company enters into indemnification provisions under agreements with other parties in the ordinary course of business, including business partners, investors, contractors, customers, and the Company’s officers, non-employee directors, and certain employees. The Company has agreed to indemnify and defend the indemnified party for claims and related losses suffered or incurred by the indemnified party from actual or threatened third-party claims due to the Company’s activities or non-compliance with certain representations and warranties made by the Company. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. For each of the fiscal years ended January 31, 2025, 2024, and 2023, losses recorded in the consolidated statements of operations in connection with the indemnification provisions, where the Company is an indemnifying party, were not material.
v3.25.1
Equity
 12 Months Ended
Jan. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Equity Equity
Preferred Stock—The Company’s amended and restated certificate of incorporation authorized the issuance of 200.0 million shares of undesignated preferred stock with a par value of $0.0001 per share and with rights and preferences, including voting rights, designated from time to time by the board of directors. No preferred stock was outstanding during any periods presented.

Common Stock—The Company has two classes of common stock authorized: Class A common stock and Class B common stock. The shares of Class A common stock and Class B common stock are identical, except with respect to voting, converting, and transfer rights, and have a par value of $0.0001 per share. Holders of common stock are entitled to receive any dividends as may be declared from time to time by the board of directors. No Class B common stock was outstanding during any periods presented.
The Company had reserved shares of common stock for future issuance as follows (in thousands):

January 31, 2025January 31, 2024
2012 Equity Incentive Plan:
Options outstanding20,067 26,767 
Restricted stock units outstanding— 789 
2020 Equity Incentive Plan:
Options outstanding1,586 602 
Restricted stock units outstanding24,790 20,168 
Shares available for future grants64,834 59,371 
2020 Employee Stock Purchase Plan:
Shares available for future grants16,446 13,764 
Total shares of common stock reserved for future issuance127,723 121,461 

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

Fiscal Year Ended January 31,
20252024
Number of shares repurchased14,765 4,012 
Weighted-average price per share(1)
$130.87 $147.49 
Aggregate purchase price(1)
$1,932,164 $591,673 
________________
(1)Excludes transaction costs associated with the repurchases.

All repurchases were made in open market transactions, except for the 3.6 million shares of the Company’s outstanding Class A common stock that were repurchased for $399.6 million from purchasers of the Notes in the offering in privately negotiated transactions entered into in connection with the Notes offering at a purchase price of $112.50 per share. See Note 10, “Convertible Senior Notes,” for further details.

As of January 31, 2025, $2.0 billion remained available for future stock repurchases under the stock repurchase program (exclusive of any transaction costs associated with repurchases). The first 0.5 million shares repurchased during the fiscal year ended January 31, 2024 were recorded in treasury stock as a reduction to the stockholders’ equity on the consolidated balance sheets. All 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 consolidated balance sheets.

Treasury Stock—As described above, 0.5 million shares were repurchased under the Company’s authorized stock repurchase program and recorded in treasury stock, of which 56,000 and 8,000 shares were reissued upon settlement of equity awards during the fiscal years ended January 31, 2025 and 2024, respectively.
In addition, during the fiscal year ended January 31, 2024, in connection with the Samooha business combination as discussed in Note 7, “Business Combinations,” the Company issued approximately 0.2 million shares of its Class A common stock to one of its wholly-owned subsidiaries in exchange for a noncontrolling equity interest in Samooha that was held by the subsidiary prior to this business combination. These shares were treated as treasury stock for accounting purposes as of January 31, 2024, and were subsequently transferred to the Company and retired during the fiscal year ended January 31, 2025.

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

The Company’s 2012 Equity Incentive Plan (2012 Plan) provided for the grant of equity awards to employees, non-employee directors, and other service providers of the Company. The 2012 Plan was terminated in September 2020 in connection with the Company’s initial public offering (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.

A total of 34.1 million shares of the Company’s Class A common stock was initially reserved for issuance under the 2020 Plan in addition to (i) any annual automatic evergreen increases in the number of shares of Class A common stock reserved for issuance under the 2020 Plan and (ii) upon the expiration, forfeiture, cancellation, or reacquisition of any shares of Class B common stock underlying outstanding stock awards granted under the 2012 Plan, an equal number of shares of Class A common stock, such number of shares not to exceed 78.8 million. On February 1, 2024, the shares available for future grants under the 2020 Plan were automatically increased by 16.7 million shares pursuant to the provision described in the preceding sentence.

The Company’s 2020 Employee Stock Purchase Plan (2020 ESPP) authorizes the issuance of shares of common stock pursuant to purchase rights granted to employees. A total of 5.7 million shares of the Company’s Class A common stock was initially reserved for future issuance under the 2020 ESPP, in addition to any annual automatic evergreen increases in the number of shares of Class A common stock reserved for future issuance under the 2020 ESPP. On February 1, 2024, the shares available for future grants under the 2020 ESPP were automatically increased by 3.3 million shares pursuant to the provision described in the preceding sentence. The price at which Class A common stock is purchased under the 2020 ESPP is equal to 85% of the fair market value of a share of the Company’s Class A common stock on the first or last day of the offering period, whichever is lower. Offering periods are generally six months long and begin on the first trading day on or after March 15 and September 15 of each year, except for the first two offering periods. The initial offering period began on September 15, 2020 and ended on February 26, 2021. The second offering period began on March 1, 2021 and ended on September 14, 2021.

Stock Options—Stock options granted under the 2012 Plan and the 2020 Plan (collectively, the Plans) generally vest based on continued service over four years and expire ten years from the date of grant. Certain stock options granted under the 2012 Plan are exercisable at any time following the date of grant and expire ten years from the date of grant.
A summary of stock option activity during the fiscal years ended January 31, 2025, 2024, and 2023 is as follows:

Number of Options Outstanding
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic
Value
(in thousands)
Balance—January 31, 2022
42,043$7.53 6.9$11,283,299 
Granted642$207.56 
Exercised(6,118)$6.50 
Canceled(713)$8.02 
Balance—January 31, 2023
35,854$11.27 5.9$5,237,549 
Exercised(8,357)$6.84 
Canceled(128)$70.59 
Balance—January 31, 2024
27,369$12.35 5.0$5,023,664 
Granted1,037$163.17 
Exercised(6,608)$6.79 
Canceled(145)$78.83 
Balance—January 31, 2025
21,653$20.83 4.2$3,493,648 
Vested and expected to vest as of January 31, 2025
21,653$20.83 4.2$3,493,648 
Exercisable as of January 31, 2025
20,645$13.53 4.1$3,478,059 

The weighted-average grant-date fair value of options granted during the fiscal years ended January 31, 2025 and 2023 was $79.16 and $101.66 per share, respectively. No options were granted during the fiscal year ended January 31, 2024. The intrinsic value of options exercised during the fiscal years ended January 31, 2025, 2024, and 2023 was $913.9 million, $1.3 billion, and $1.0 billion, respectively. The aggregate grant-date fair value of options that vested during the fiscal years ended January 31, 2025, 2024, and 2023 was $31.2 million, $42.3 million, and $79.1 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 fiscal years ended January 31, 2025 and 2024, 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 $60.2 million and $30.8 million for the fiscal years ended January 31, 2025 and 2024, respectively.
A summary of equity-classified RSUs activity during the fiscal years ended January 31, 2025, 2024, and 2023 is as follows:

Number of Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
per Share
Unvested Balance—January 31, 2022
9,612 $180.08 
Granted10,788 $180.65 
Vested(3,348)$165.30 
Forfeited(1,492)$206.02 
Unvested Balance—January 31, 2023
15,560 $181.17 
Granted
12,706 $158.28 
Vested(6,810)$172.38 
Forfeited(1,881)$176.44 
Unvested Balance—January 31, 2024
19,575 $169.82 
Granted
17,096 $142.07 
Vested(9,900)$168.04 
Forfeited(3,367)$163.07 
Performance adjustment(1)
(50)$139.58 
Unvested Balance—January 31, 2025
23,354 $151.30 
________________
(1)Represents an adjustment in the number of shares outstanding, with regards to Leadership PRSUs granted during the fiscal year ended January 31, 2024, based on the actual achievement of the associated Company annual performance targets for fiscal 2024.

Liability-Classified RSUs—During the fiscal year ended January 31, 2024, in connection with the Samooha business combination as discussed in Note 7, “Business Combinations,” the Company agreed to grant, under the 2020 Plan, RSUs that contain both post-combination service-based and performance-based vesting conditions (Acquisition PRSUs) to eligible existing or future employees, subject to a maximum total number of approximately 1.7 million shares. The post-combination service-based vesting condition for these Acquisition PRSUs is satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. The performance-based vesting condition is contingent on the achievement of certain performance metric over the twelve-month period ending January 31, 2027. Acquisition PRSUs will vest when both service-based and performance-based conditions are satisfied. The ultimate number of Acquisition PRSUs eligible to vest is determined based on the actual achievement of the performance metric, which takes into account certain factors including the Company’s stock price and market capitalization.

Once granted, Acquisition PRSUs are initially liability-classified and recorded in other liabilities on the Company’s consolidated balance sheets, as the monetary value of the obligation under each potential outcome of the performance condition is predominantly based on a fixed monetary amount known at inception and will be settled in a variable number of shares. Subsequently, these awards are remeasured to the fair value at each reporting date until the number of Acquisition PRSUs eligible to vest is fixed, at which time these awards will be reclassified to equity. Stock-based compensation associated with these awards is recognized based on the probable outcome of the performance condition, using an accelerated attribution method over the requisite service period, with a cumulative catch-up adjustment recognized for changes in the fair value estimated at each reporting date. As of January 31, 2025 and 2024, the liabilities associated with these Acquisition PRSUs were $11.1 million and $0.5 million, respectively. The Company recognized stock-based compensation of $10.6 million and $0.5 million associated with these Acquisition PRSUs for the fiscal years ended January 31, 2025 and 2024, respectively.
A summary of liability-classified RSUs activity during the fiscal years ended January 31, 2025 and 2024 is as follows:

Number of Shares
(in thousands)
Unvested Balance—January 31, 2023
— 
Granted(1)
1,382 
Unvested Balance—January 31, 2024
1,382 
Granted(1)
118 
Forfeited(64)
Unvested Balance—January 31, 2025
1,436 
________________
(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 outside of the Plans during the fiscal years ended January 31, 2025, 2024, and 2023 is as follows:

Outside of the Plans
Number of Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
per Share
Unvested Balance—January 31, 2022
380 $2.11 
Granted409 $229.13 
Vested(361)$2.10 
Unvested Balance—January 31, 2023
428 $219.26 
Granted385 $194.28 
Vested(142)$199.28 
Unvested Balance—January 31, 2024
671 $209.15 
Granted445 $162.15 
Vested(219)$213.81 
Forfeited(76)$226.91 
Unvested Balance—January 31, 2025
821 $180.82 

During the fiscal year ended January 31, 2025, in connection with the Datavolo business combination, the Company issued to certain of Datavolo’s employees a total of 0.4 million shares of the Company’s Class A common stock in exchange for a portion of their Datavolo stock. These shares are subject to vesting agreements pursuant to which the shares will vest over four years, subject to each of these employees’ continued employment with the Company or its affiliates. The $64.6 million fair value of these shares is accounted for as post-combination stock-based compensation over the requisite service period of four years. As of January 31, 2025, all 0.4 million shares remained unvested.

During the fiscal year ended January 31, 2024, in connection with the Samooha business combination, the Company issued to certain of Samooha’s employees a total of 0.4 million shares of the Company’s Class A common stock in exchange for a portion of their Samooha stock. These shares are subject to vesting agreements pursuant to which the shares will vest over four years, subject to each of these employees’ continued employment with the Company or its affiliates. The $74.8 million fair value of these shares is accounted for as post-combination stock-based compensation over the requisite service period of four years. As of January 31, 2025 and 2024, 0.3 million and 0.4 million shares remained unvested, respectively.
During the fiscal year ended January 31, 2023, in connection with the Streamlit business combination, the Company issued to Streamlit’s three founders a total of 0.4 million shares of the Company’s common stock outside of the Plans in exchange for a portion of their Streamlit stock. These shares are subject to vesting agreements pursuant to which the shares will vest over three years, subject to each founder’s continued employment with the Company or its affiliates. The $93.7 million fair value of these shares is accounted for as post-combination stock-based compensation over the requisite service period of three years. As of January 31, 2025 and 2024, 0.1 million and 0.3 million shares remained unvested, respectively.

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

Stock-Based Compensation—The following table summarizes the assumptions used in estimating the grant-date fair values of stock options granted to employees during the fiscal years ended January 31, 2025 and 2023:

Fiscal Year Ended January 31,
20252023
Expected term (in years)
4.8 - 6.0
6.0
Expected volatility
56.6% - 56.7%
50.0 %
Risk-free interest rate
4.2% - 4.4%
1.8 %
Expected dividend yield— %— %

No stock options were granted during the fiscal year ended January 31, 2024.

In addition, for the stock option granted during the fiscal year ended January 31, 2025, 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.

The following table summarizes the assumptions used in estimating the fair values of ESPP Rights granted under the 2020 ESPP during the fiscal years ended January 31, 2025, 2024, and 2023:

Fiscal Year Ended January 31,
202520242023
Expected term (in years)0.50.50.5
Expected volatility
46.3% - 49.6%
48.4% - 71.3%
58.9% - 74.8%
Risk-free interest rate
4.5% - 5.4%
4.7% - 5.5%
0.9% - 3.8%
Expected dividend yield— %— %— %

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

Expected volatility—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 fiscal year ended January 31, 2025, 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—The fair value of the Company’s common stock is determined by the closing price, on the date of grant, of its common stock, which is traded on the New York Stock Exchange.
The following table summarizes the assumptions used in estimating the fair value of liability-classified Acquisition PRSUs as of January 31, 2025 and 2024:

January 31, 2025January 31, 2024
Expected volatility50.0 %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 fiscal year ended January 31, 2025, 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 consolidated statements of operations was as follows (in thousands):

Fiscal Year Ended January 31,
202520242023
Cost of revenue$142,163 $123,363 $106,302 
Sales and marketing331,807 299,657 246,811 
Research and development852,027 644,928 407,524 
General and administrative153,317 100,067 100,896 
Stock-based compensation, net of amounts capitalized1,479,314 1,168,015 861,533 
Capitalized stock-based compensation38,493 48,830 29,417 
Total stock-based compensation$1,517,807 $1,216,845 $890,950 

As of January 31, 2025, total compensation cost related to unvested awards not yet recognized was $3.5 billion, which will be recognized over a weighted-average period of 2.8 years.
v3.25.1
Income Taxes
 12 Months Ended
Jan. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The components of loss before income taxes were as follows (in thousands):

Fiscal Year Ended January 31,
202520242023
U.S.$(1,341,798)$(875,703)$(851,538)
Foreign56,699 26,480 35,545 
Loss before income taxes$(1,285,099)$(849,223)$(815,993)

The provision for (benefit from) income taxes consists of the following (in thousands):
Fiscal Year Ended January 31,
202520242023
Current provision:
State$806 $754 $626 
Foreign10,978 14,775 7,571 
Deferred benefit:
Federal(6,294)(15,376)(21,647)
State(1,011)(4,700)(4,410)
Foreign(366)(6,686)(607)
Provision for (benefit from) income taxes
$4,113 $(11,233)$(18,467)

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

Fiscal Year Ended January 31,
202520242023
Income tax benefit computed at federal statutory rate$(269,871)$(178,337)$(171,359)
State taxes, net of federal benefit33,910 26,380 14,948 
Research and development credits(133,266)(101,725)(58,136)
Stock-based compensation(7,667)(148,600)(71,295)
Change in valuation allowance363,422 371,767 213,532 
IRC Section 59A waived deductions— 11,550 49,476 
Other17,585 7,732 4,367 
Provision for (benefit from) income taxes
$4,113 $(11,233)$(18,467)

A valuation allowance has been recognized to offset the Company’s deferred tax assets, as necessary, by the amount of any tax benefits that, based on evidence, are not expected to be realized. As of January 31, 2025 and 2024, the Company believes it is more likely than not that its U.S. and U.K. deferred tax assets will not be fully realizable and continues to maintain a full valuation allowance against these net deferred tax assets.
Significant components of the Company’s deferred tax assets and deferred tax liabilities are shown below (in thousands):

January 31, 2025January 31, 2024
Deferred tax assets:
Net operating losses carryforwards$1,707,649 $1,673,213 
Capitalized research and development725,823 420,491 
Tax credit carryforwards511,504 376,804 
Operating lease liabilities104,517 54,008 
Deferred revenue95,779 82,683 
Capped call transactions
45,032 — 
Stock-based compensation36,044 109,446 
Net unrealized losses on strategic investments6,143 2,443 
Other50,790 31,776 
Total deferred tax assets3,283,281 2,750,864 
Less: valuation allowance(3,104,505)(2,621,009)
Net deferred tax assets178,776 129,855 
Deferred tax liabilities:
Intangible assets(27,481)(39,173)
Deferred commissions(56,662)(41,609)
Operating lease right-of-use assets(94,997)(48,629)
Other(234)(1,326)
Total deferred tax liabilities(179,374)(130,737)
Net deferred tax liabilities
$(598)$(882)

The valuation allowance was $3.1 billion and $2.6 billion as of January 31, 2025 and 2024, respectively, primarily relating to U.S. federal and state net operating loss carryforwards, capitalized research and development, and tax credit carryforwards. The valuation allowance increased $483.5 million during the fiscal year ended January 31, 2025, primarily due to increased capitalized research and development and tax credit carryforwards. The valuation allowance increased $520.4 million and $241.9 million during the fiscal years ended January 31, 2024 and 2023, respectively, primarily due to increased capitalized research and development, U.S. federal and state net operating loss carryforwards, and tax credit carryforwards.

As of January 31, 2025, the Company had U.S. federal, state, and foreign net operating loss carryforwards of $6.2 billion, $6.0 billion, and $178.0 million, respectively. Of the $6.2 billion U.S. federal net operating loss carryforwards, $6.1 billion may be carried forward indefinitely with utilization limited to 80% of taxable income, and the remaining $0.1 billion will begin to expire in 2032. The state net operating loss carryforwards begin to expire in 2026. Of the $178.0 million foreign net operating loss carryforwards, $165.2 million may be carried forward indefinitely, and the remaining $12.8 million will begin to expire in 2027. As of January 31, 2025, the Company also had federal and state tax credits of $482.9 million and $212.2 million, respectively. The federal tax credit carryforwards will expire beginning in 2032 if not utilized. The state tax credit carryforwards do not expire. Utilization of the Company’s net operating loss and tax credit carryforwards may be subject to annual limitation due to the ownership change limitations provided by the Internal Revenue Code and similar state provisions. Such an annual limitation could result in the expiration of the net operating loss and tax credit carryforwards before utilization.

Foreign withholding taxes have not been provided for the cumulative undistributed earnings of the Company’s foreign subsidiaries as of January 31, 2025 due to the Company’s intention to permanently reinvest such earnings. Determination of the amount of unrecognized deferred tax liability related to these earnings is not practicable.
The following table shows the changes in the gross amount of unrecognized tax benefits (in thousands):

Fiscal Year Ended January 31,
202520242023
Beginning balance$115,253 $75,180 $57,715 
Increases based on tax positions during the prior period
655 12,708 1,816 
Increases based on tax positions during the current period
35,752 27,365 15,649 
Ending balance$151,660 $115,253 $75,180 

There were no interest and penalties associated with unrecognized income tax benefits for each of the fiscal years ended January 31, 2025, 2024, and 2023.

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

The Company files income tax returns in the U.S. federal jurisdiction, various state jurisdictions, and in various international jurisdictions. Tax years 2012 and forward generally remain open for examination for federal and state tax purposes. Tax years 2020 and forward generally remain open for examination for foreign tax purposes. To the extent utilized in future years’ tax returns, net operating loss carryforwards at January 31, 2025 and 2024 will remain subject to examination until the respective tax year is closed.
On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (Inflation Act) into law. The Inflation Act contains certain tax measures, including a corporate alternative minimum tax of 15% on some large corporations and an excise tax of 1% on stock repurchases. For the fiscal year ended January 31, 2025, the Inflation Act had no material impact to the Company, including its stock repurchase program.
v3.25.1
Net Loss per Share
 12 Months Ended
Jan. 31, 2025
Earnings Per Share [Abstract]  
Net Loss per Share Net Loss per Share
The following table presents the calculation of basic and diluted net loss per share attributable to Snowflake Inc. Class A common stockholders (in thousands, except per share data):

Fiscal Year Ended January 31,
202520242023
Numerator:
Net loss$(1,289,212)$(837,990)$(797,526)
Less: net loss attributable to noncontrolling interest
(3,572)(1,893)(821)
Net loss attributable to Snowflake Inc. Class A common stockholders
$(1,285,640)$(836,097)$(796,705)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted
332,707 328,001 318,730 
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted
$(3.86)$(2.55)$(2.50)

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):

Fiscal Year Ended January 31,
202520242023
RSUs24,790 20,957 15,560 
Stock options21,653 27,369 35,854 
Shares underlying the conversion option in the Notes
14,603 — — 
Unvested restricted common stock and early exercised stock options
821 671 446 
ESPP Rights
569 284 265 
Total62,436 49,281 52,125 

The Company entered into the Capped Calls in connection with the Notes offering. The effect of the Capped Calls was also excluded from the calculation of diluted net loss per share attributable to Snowflake Inc. Class A common stockholders as the effect of the Capped Calls would have been anti-dilutive. The Capped Calls are generally expected to reduce the potential dilution to the Company’s Class A common stock upon any conversion of the relevant series of the Notes. See Note 10, “Convertible Senior Notes,” for further details.
v3.25.1
Related Party Transactions
 12 Months Ended
Jan. 31, 2025
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 (Related Party), which has been the Company’s customer since 2018. In January 2024, the Company renewed its customer agreement with the Related Party for a term of two years with a total contract value of $22.5 million. In November 2024, an additional customer agreement was entered into with the Related Party for a term of 13 months with a total contract value of $1.5 million. With respect to the Related Party, the Company recognized $12.9 million, $6.8 million, and $3.7 million of revenue for the fiscal years ended January 31, 2025, 2024 and 2023, respectively, and had an accounts receivable balance due from the Related Party of $1.8 million and $5.0 million as of January 31, 2025 and 2024, respectively.

In March 2024, as a minority investor, the Company made a strategic investment of approximately $5.0 million by purchasing non-marketable equity securities issued by the Related Party.
v3.25.1
Subsequent Event
 12 Months Ended
Jan. 31, 2025
Subsequent Events [Abstract]  
Subsequent Event Subsequent Event
Subsequent to January 31, 2025, and through March 21, 2025, the Company repurchased 3.2 million shares of its outstanding common stock for an aggregate purchase price of $490.6 million, excluding transaction costs associated with the repurchases, at a weighted-average price of $152.63 per share. All repurchases were made in open market transactions.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Pay vs Performance Disclosure      
Net Income (Loss) $ (1,285,640) $ (836,097) $ (796,705)
v3.25.1
Insider Trading Arrangements
 3 Months Ended 12 Months Ended
Jan. 31, 2025
shares
Jan. 31, 2025
shares
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
Trading Arrangement
ActionDateRule 10b5-1*Non-Rule 10b5-1**
Total Shares of Class A Common Stock Subject to Trading Arrangement
Expiration Date
Christian Kleinerman, EVP, Product Management
Adopted
December 19, 2024
X

199,438(1)
March 31, 2026
Christopher W. Degnan, Chief Revenue Officer
Adopted
December 20, 2024
X

149,500(2)
April 30, 2026
Michael L. Speiser, Director
Adopted
December 27, 2024
X
1,217,784March 31, 2027
* Intended to satisfy the affirmative defense of Rule 10b5-1(c)
** Not intended to satisfy the affirmative defense of Rule 10b5-1(c)
(1)The actual number of shares subject to the trading arrangement under the Rule 10b5-1 Plan is expected to be different due to: (i) our withholding of certain shares to satisfy tax withholding obligations in connection with the vesting of restricted stock units; (ii) the amount of restricted stock units acquired following determination of the achievement of pre-established financial performance goals for fiscal year 2025; and (iii) the amount of whole shares distributed in connection with the vesting of restricted stock units due to rounding.
(2)The trading arrangement provides for gifts of up to 34,500 shares of our common stock.
Non-Rule 10b5-1 Arrangement Adopted false  
Rule 10b5-1 Arrangement Terminated false  
Non-Rule 10b5-1 Arrangement Terminated false  
Christian Kleinerman [Member]    
Trading Arrangements, by Individual    
Name Christian Kleinerman  
Title EVP, Product Management  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date December 19, 2024  
Expiration Date March 31, 2026  
Arrangement Duration 467 days  
Aggregate Available 199,438 199,438
Christopher W. Degnan [Member]    
Trading Arrangements, by Individual    
Name Christopher W. Degnan  
Title Chief Revenue Officer  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date December 20, 2024  
Expiration Date April 30, 2026  
Arrangement Duration 496 days  
Aggregate Available 149,500 149,500
Michael L. Speiser [Member]    
Trading Arrangements, by Individual    
Name Michael L. Speiser  
Title Director  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date December 27, 2024  
Expiration Date March 31, 2027  
Arrangement Duration 824 days  
Aggregate Available 1,217,784 1,217,784
v3.25.1
Insider Trading Policies and Procedures
 12 Months Ended
Jan. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Jan. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We have implemented and maintain a cybersecurity program designed to identify, assess, and manage material risks from cybersecurity threats to (i) our information systems and data, which include critical computer networks, third-party hosted services, communications systems, hardware and software, and (ii) critical data, including our intellectual property, confidential information that is proprietary, strategic or competitive in nature, and our customers’ data. Our cybersecurity program includes an information security policy, access management policies, an open-source policy, security incident response processes, and a supply chain policy, in addition to the secure design and vendor management programs described below. For a description of the risks from cybersecurity threats that may materially affect us, see the risk factor titled “If we, our customers, or third-party service providers experience an actual or perceived security breach or unauthorized parties otherwise obtain access to our customers’ data, our data, or our platform, our platform may be perceived as not being secure, our reputation may be harmed, demand for our platform may be reduced, and we may incur significant liabilities.” in the section titled “Risk Factors” included elsewhere in this Annual Report on Form 10-K.

Our information systems generally fall into two categories: our platform and our corporate systems. Each category has dedicated teams and processes in place to address cybersecurity risk. Our product security team, which reports into our SVP, Engineering and Support, works alongside our product and engineering teams to address how security is designed into our platform. Our corporate security team, which reports to our Chief Information Security Officer, is responsible for the secure design of our corporate systems. In addition, our Chief Information Security Officer manages a global security team that performs certain cybersecurity functions for both our platform and corporate systems, including certification management, incident response, threat detection, analytics, and offensive security (such as simulations and penetration tests).

We actively monitor our threat environment for cybersecurity threats using various methods, including automated detection tools, scans of the threat environment, investigations of potential threats we discover or that are reported to us, and reports and services that identify threats. We monitor our information systems for vulnerabilities using internal and third-party penetration testing, intelligence feeds, and vulnerability databases. We also have a bug bounty program.

Our security teams work with management to prioritize our risk management processes and mitigate cybersecurity threats, including those that may materially impact our business. Our assessment and management of material risks from cybersecurity threats is a key risk area within our enterprise risk management program. Our Chief Information Security Officer and SVP, Engineering and Support are responsible for management of cybersecurity risk under our enterprise risk management program, and senior management and the audit committee of our board of directors receive reports on the key risks and the effectiveness of our management of such enterprise risks. In addition, key cybersecurity risks are assessed as part of our internal audit program. We have completed various security audits and certifications, including SOC 2 Type II, SOC 1 Type II, PCI-DSS, HITRUST, FedRAMP High, and ISO/IEC 27001. We also employ a shared responsibility cybersecurity model where our customers are responsible for using and configuring our platform in a manner that meets applicable cybersecurity standards and requirements. As part of this shared responsibility cybersecurity model, customers have sole responsibility for creating and securing their access credentials for our platform.
Our platform and corporate systems involve the use of third-party technology or service providers, or vendors, such as hosting platforms, open-source software, and application providers. We also use vendors to assist us from time to time to identify, assess, and manage material risks from cybersecurity threats to our platform and corporate systems, including consulting firms, external legal counsel, incident response vendors, penetration test providers, auditors, monitoring technology, and cybersecurity data providers. We have a vendor management program under which our corporate security, product security, and legal teams evaluate cybersecurity risks presented by our use of vendors. Depending on the nature of the technology or services provided, the sensitivity of the information systems and data at issue, and the identity of the vendor, our vendor management process may involve different levels of assessment designed to help identify cybersecurity risks. For vendors that may pose higher risks, this process includes a vendor security questionnaire, an evaluation of the vendor’s security program and security documentation, and the imposition of contractual obligations related to cybersecurity on the vendor. All vendors are required to undergo this review, which is in addition to the applicable security reviews that may be conducted by our product security and corporate security teams described above.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] We have implemented and maintain a cybersecurity program designed to identify, assess, and manage material risks from cybersecurity threats to (i) our information systems and data, which include critical computer networks, third-party hosted services, communications systems, hardware and software, and (ii) critical data, including our intellectual property, confidential information that is proprietary, strategic or competitive in nature, and our customers’ data. Our cybersecurity program includes an information security policy, access management policies, an open-source policy, security incident response processes, and a supply chain policy, in addition to the secure design and vendor management programs described below. For a description of the risks from cybersecurity threats that may materially affect us, see the risk factor titled “If we, our customers, or third-party service providers experience an actual or perceived security breach or unauthorized parties otherwise obtain access to our customers’ data, our data, or our platform, our platform may be perceived as not being secure, our reputation may be harmed, demand for our platform may be reduced, and we may incur significant liabilities.” in the section titled “Risk Factors” included elsewhere in this Annual Report on Form 10-K.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] Our board of directors has formed a cybersecurity committee of the board to assist it in fulfilling its oversight responsibility with respect to the management of cybersecurity risks related to our products and services as well as our information technology and network systems. The responsibilities of the cybersecurity committee include overseeing our implementation and maintenance of cybersecurity measures, data governance, compliance with applicable information security laws, and overseeing disclosure controls relating to cybersecurity. The cybersecurity committee receives reports from management concerning our significant cybersecurity threats and risk and the processes we have implemented to address them and has access to various reports, summaries or presentations related to cybersecurity threats, risk, and mitigation. In addition, our audit committee has oversight responsibility over our internal financial controls and our enterprise risk management program. Finally, management periodically provides cybersecurity briefings to the entire board of directors.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Our board of directors has formed a cybersecurity committee of the board to assist it in fulfilling its oversight responsibility with respect to the management of cybersecurity risks related to our products and services as well as our information technology and network systems. The responsibilities of the cybersecurity committee include overseeing our implementation and maintenance of cybersecurity measures, data governance, compliance with applicable information security laws, and overseeing disclosure controls relating to cybersecurity.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The cybersecurity committee receives reports from management concerning our significant cybersecurity threats and risk and the processes we have implemented to address them and has access to various reports, summaries or presentations related to cybersecurity threats, risk, and mitigation. In addition, our audit committee has oversight responsibility over our internal financial controls and our enterprise risk management program. Finally, management periodically provides cybersecurity briefings to the entire board of directors. our security incident response plan provides for reporting certain cybersecurity incidents to the cybersecurity committee of the board.
Cybersecurity Risk Role of Management [Text Block] The members of management who are primarily responsible for assessing and managing our material risks from cybersecurity threats are our Chief Information Security Officer and our SVP, Engineering and Support. Our Chief Information Security Officer joined Snowflake in 2023 and previously served in various cybersecurity roles for over 12 years across multiple technology sectors, including manufacturing, software, and services. Our SVP, Engineering and Support joined Snowflake as VP of AI Engineering in 2023 in connection with our acquisition of Neeva, where he served as the head of engineering and, prior to that, he served in various roles at Google, including as VP Engineering in various technical leadership roles. Each of our Chief Information Security Officer and SVP, Engineering and Support is responsible for hiring appropriate personnel, integrating cybersecurity risk considerations into our overall risk management strategy, communicating key priorities to relevant personnel, approving budgets, helping prepare for cybersecurity incidents, approving cybersecurity processes, and reviewing security assessments and other security-related reports.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The members of management who are primarily responsible for assessing and managing our material risks from cybersecurity threats are our Chief Information Security Officer and our SVP, Engineering and Support.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our Chief Information Security Officer joined Snowflake in 2023 and previously served in various cybersecurity roles for over 12 years across multiple technology sectors, including manufacturing, software, and services. Our SVP, Engineering and Support joined Snowflake as VP of AI Engineering in 2023 in connection with our acquisition of Neeva, where he served as the head of engineering and, prior to that, he served in various roles at Google, including as VP Engineering in various technical leadership roles.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The cybersecurity committee receives reports from management concerning our significant cybersecurity threats and risk and the processes we have implemented to address them and has access to various reports, summaries or presentations related to cybersecurity threats, risk, and mitigation. In addition, our audit committee has oversight responsibility over our internal financial controls and our enterprise risk management program. Finally, management periodically provides cybersecurity briefings to the entire board of directors. Our cybersecurity incident response processes are designed to escalate certain cybersecurity incidents to management depending on the circumstances, including the individuals named above, who work with our incident response team to help us mitigate and remediate cybersecurity incidents of which they are notified
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.1
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Jan. 31, 2025
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 ended January 31, 2025.
Basis of Presentation
Basis of Presentation
The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP).
Principles of Consolidation
Principles of Consolidation

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

The Company has a single operating and reportable segment. The Company’s chief operating decision maker (CODM) is its Chief Executive Officer, who reviews financial information presented on a consolidated basis, including, but not limited to, the Company’s consolidated net loss, for purposes of making operating decisions, assessing financial performance, and allocating resources.
The measure of segment assets is the total assets on the Company’s consolidated balance sheets.
Use of Estimates
Use of Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Such estimates include, but are not limited to, stand-alone selling prices (SSP) for each distinct performance obligation, internal-use software development costs, the expected period of benefit for deferred commissions, the fair value of intangible assets acquired in business combinations, the useful lives of long-lived assets, the carrying value of operating lease right-of-use assets, stock-based compensation, accounting for income taxes, and the fair value of investments in marketable and non-marketable securities.
The Company bases its estimates on historical experience and also on assumptions that management considers reasonable. These estimates are assessed on a regular basis; however, actual results could differ from these estimates.
Concentration of Credit Risk
Concentration of Credit Risk
Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash, cash equivalents, investments in marketable securities, restricted cash, accounts receivable, and foreign currency forward contracts. The Company maintains its cash, cash equivalents, investments in marketable securities, restricted cash and foreign currency forward contracts with high-quality financial institutions that have investment-grade ratings. For accounts receivable, the Company is exposed to credit risk in the event of nonpayment by customers up to the amounts recorded on the consolidated balance sheets. The Company manages its accounts receivable credit risk through ongoing credit evaluation of its customers’ financial conditions. The Company generally does not require collateral from its customers.
Foreign Currency
Foreign Currency

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

Monetary assets and liabilities denominated in currencies other than the functional currency are remeasured to the functional currency at period-end exchange rates. Foreign currency transaction gains and losses resulting from remeasurement are recognized in other income (expense), net in the consolidated statements of operations, and have not been material for any of the periods presented.

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

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

The Company delivers its platform over the internet as a service. Customers choose to consume the platform under either capacity arrangements, in which customers commit to a certain amount of consumption at specified prices, or under on-demand arrangements, in which the Company charges for use of the platform monthly in arrears. Under capacity arrangements, from which a majority of revenue is derived, the Company typically bills its customers annually in advance of their consumption. Revenue from on-demand arrangements typically relates to customers with lower usage levels or overage consumption beyond a customer’s contracted usage amount under a capacity contract or following the expiration of a customer’s capacity contract. Revenue from on-demand arrangements represented approximately 2%, 3%, and 2% of the Company’s revenue for the fiscal years ended January 31, 2025, 2024, and 2023, respectively. The Company recognizes revenue as customers consume compute, storage, and data transfer resources under either of these arrangements. In limited instances, customers pay an annual deployment fee to gain access to a dedicated instance of a virtual private deployment. Deployment fees are recognized ratably over the contract term.

Customers do not have the contractual right to take possession of the Company’s platform. Pricing for the platform includes embedded support services, data backup and disaster recovery services, as well as future updates, when and if available, offered during the contract term.

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

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

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

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

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

2) Identify the performance obligations in the contract. Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract. 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. The Company treats its virtual private deployments for customers, professional services, technical solution services, and training each as a separate and distinct performance obligation. Some customers have negotiated an option to purchase additional capacity at a stated discount. These options generally do not provide a material right as they are priced at the Company’s SSP, as described below, as the stated discounts are not incremental to the range of discounts typically given.

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

5) Recognize revenue when or as the Company satisfies a performance obligation. Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised service to a customer. Revenue is recognized when control of the services is transferred to the customers, in an amount that reflects the consideration that the Company expects to receive in exchange for those services. The Company determined an output method 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.
Cost of Revenue

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

The Company records deferred revenue when the Company receives customer payments in advance of satisfying the performance obligations on the Company’s contracts. Capacity arrangements are generally billed and paid in advance of satisfaction of performance obligations, and the Company’s on-demand arrangements are billed in arrears generally on a monthly basis. Deferred revenue also includes amounts that have been invoiced but not yet collected, classified as accounts receivable, when the Company has an enforceable right to consideration for capacity arrangements. Deferred revenue relating to the Company’s capacity arrangements that have a contractual expiration date of less than 12 months are classified as current. For capacity arrangements that have a contractual expiration date of greater than 12 months, the Company apportions deferred revenue between current and non-current based upon an assumed ratable consumption of these capacity arrangements over the entire term of the arrangement, even though it does not recognize revenue ratably over the term of the contract as customers have flexibility in their consumption and revenue is generally recognized on consumption. In addition, in many cases, the Company’s customer contracts also permit customers to roll over any unused capacity to a subsequent order, generally on the purchase of additional capacity. As such, the current or non-current classification of deferred revenue may not reflect the actual timing of revenue recognition.
Remaining performance obligations (RPO) represent the amount of contracted future revenue that has not yet been recognized, including (i) deferred revenue and (ii) non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. The Company’s RPO excludes performance obligations from on-demand arrangements as there are no minimum purchase commitments associated with these arrangements, and certain time and materials contracts that are billed in arrears. Portions of RPO that are not yet invoiced and are denominated in foreign currencies are revalued into U.S. dollars each period based on the applicable period-end exchange rates.
Allocation of Overhead Costs
Allocation of Overhead Costs

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

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

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

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

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

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

The Company’s equity awards include stock options, restricted stock unit awards (RSUs), restricted common stock granted to employees, non-employee directors, and other service providers, and stock purchase rights granted under the Employee Stock Purchase Plan (ESPP Rights) to employees. Equity awards are reviewed in determining whether such awards are equity-classified or liability-classified.

Stock-based compensation related to equity-classified awards is measured based on the estimated fair value of the awards on the date of grant and generally recognized on a straight-line basis over the requisite service period. The fair value of each stock option granted and ESPP Rights is estimated using the Black-Scholes option-pricing model. The determination of the grant-date fair value using an option-pricing model is affected by the estimated fair value of the Company’s common stock as well as assumptions regarding a number of other complex and subjective variables. These variables include expected stock price volatility over an expected term, actual and projected employee stock option exercise behaviors, the risk-free interest rate for an expected term, and expected dividends. The fair value of each RSU is based on the fair value of the Company’s common stock on the date of grant. For equity-classified awards with both service-based and performance-based vesting conditions, the stock-based compensation is recognized using an accelerated attribution method over the requisite service period, based on the Company’s periodic assessment of the probability that the performance condition will be achieved.
Certain RSUs with both service-based and performance-based vesting conditions are liability-classified, as the monetary value of the obligation under each potential outcome of the performance condition is predominantly based on a fixed monetary amount known at inception and will be settled in a variable number of the Company’s common stock. The fair value of these awards is estimated using the Monte Carlo simulation model, which requires the use of various assumptions, including the expected stock price volatility and risk-free interest rate. These awards are subsequently remeasured to the fair value at each reporting date until the number of these awards eligible to vest is fixed, at which time these awards will be reclassified to equity. Stock-based compensation associated with these awards is recognized based on the probable outcome of the performance condition, using an accelerated attribution method over the requisite service period, with a cumulative catch-up adjustment recognized for changes in the fair value estimated at each reporting date.

If an award contains a provision whereby vesting is accelerated upon a change in control, such a change in control is considered to be outside of the Company’s control and is not considered probable until it occurs. Forfeitures are accounted for in the period in which they occur.

During the fiscal year ended January 31, 2023, the Company began funding withholding taxes due upon the vesting of employee RSUs in certain jurisdictions by net share settlement, rather than its previous approach of selling shares of the Company’s common stock. The amount of withholding taxes related to net share settlement of employee RSUs is reflected as (i) a reduction to additional paid-in-capital, and (ii) cash outflows for financing activities when the payments are made. The shares withheld by the Company as a result of the net share settlement of RSUs are not considered issued and outstanding, and do not impact the calculation of basic net income (loss) per share attributable to Snowflake Inc. Class A common stockholders.
Net Loss Per Share Attributable to Snowflake Inc. Class A Common Stockholders
Net Loss Per Share Attributable to Snowflake Inc. Class A Common Stockholders

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, ESPP Rights, early exercised stock options, and shares underlying the conversion option in the convertible senior notes 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.
Cash and Cash Equivalents and Restricted Cash
Cash and Cash Equivalents

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

Restricted Cash

Restricted cash primarily consists of (i) cash held in a trust that is restricted for use in meeting the Company's general obligations and (ii) collateralized letters of credit established in connection with lease agreements for the Company’s facilities. Restricted cash is classified within prepaid expenses and other current assets or other assets on the consolidated balance sheets, typically based on the remaining term of the restriction.
Investments and Strategic Investments
Investments

The Company’s investments in marketable debt securities have been classified and accounted for as available-for-sale and are recorded at estimated fair value. The Company classifies its marketable debt securities as either short-term or long-term at each balance sheet date based on each instrument’s underlying contractual maturity date. Short-term investments are investments with original maturities of less than one year when purchased. Purchase premiums and discounts are amortized or accreted using the effective interest method over the life of the related security and such amortization and accretion are included in interest income in the consolidated statements of operations.

For available-for-sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell or it is more likely than not that the Company will be required to sell the security before the recovery of its entire amortized cost basis. If either of these criteria is met, the security’s amortized cost basis is written down to fair value through other income (expense), net in the consolidated statements of operations. If neither of these criteria is met, the Company further assesses whether the decline in fair value below amortized cost is due to credit or non-credit related factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and any adverse conditions specifically related to the security, among other factors. Credit-related unrealized losses are recognized as an allowance on the consolidated balance sheets with a corresponding charge in the other income (expense), net in the consolidated statements of operations. Non-credit related unrealized losses and unrealized gains on available-for-sale debt securities are included in accumulated other comprehensive income (loss).

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

Strategic Investments

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

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

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

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

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

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

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

The Company’s primary financial instruments include cash equivalents, investments in marketable securities, strategic investments, restricted cash, accounts receivable, derivative assets and liabilities, accounts payable, accrued expenses, and convertible senior notes. The carrying amounts of accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term nature. See Note 5, “Fair Value Measurements,” and Note 10, “Convertible Senior Notes,” for information regarding the fair value of the Company’s cash equivalents and investments in marketable securities, strategic investments, and derivative assets and liabilities, as well as the fair value of the Company’s convertible senior notes.
Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows:

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

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

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

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

Non-Designated Hedges—The Company utilizes foreign currency forward contracts to manage its exposure to certain foreign currency exchange risks primarily associated with (i) a portion of its net outstanding monetary assets and liabilities positions and (ii) certain intercompany balances denominated in currencies other than the U.S. dollar. These foreign currency forward contracts have maturities of twelve months or less and are not designated as hedging instruments (Non-Designated Hedges). As such, all changes in the fair value of these derivative instruments are recorded in other income (expense), net on the consolidated statements of operations, and are intended to offset the foreign currency transaction gains or losses associated with the underlying balances being hedged. Cash flows at settlement of such foreign currency forward contracts are classified as operating activities in the consolidated statement of cash flows.

Cash Flow Hedge—The Company also utilizes foreign currency forward contracts to manage the volatility in cash flows associated with (i) certain forecasted capital expenditures and (ii) a portion of its forecasted operating expenses denominated in certain currencies other than the U.S. dollar. These foreign currency forward contracts have a maturity of twelve months or less and are designated and qualify as cash flow hedges, and, in general, closely match the underlying hedged forecasted transactions in duration. The effectiveness of the cash flow hedges is assessed quantitatively using regression at inception and at each reporting date. The effective portion of these foreign currency forward contracts’ gains and losses resulting from changes in fair value is recorded in accumulated other comprehensive income (loss) on the consolidated balance sheets, and subsequently reclassified into the same line items on the Company’s consolidated statements of operations as the underlying hedged forecasted transactions in the same period that such transactions affect earnings. In the event the underlying forecasted transactions do not occur, or it becomes probable that they will not occur within the defined hedge period, the gains or losses on the related cash flow hedges are reclassified immediately from accumulated other comprehensive income (loss) to net income (loss) in the Company’s consolidated financial statements. Cash flows from such foreign currency forward contracts are classified in the same category on the Company’s consolidated statements of cash flows as the cash flows from the underlying hedged forecasted transactions.

These derivative financial instruments did not have a material impact on the Company’s consolidated financial statements for all periods presented.
Accounts Receivable, Net
Accounts Receivable, Net
Accounts receivable include billed and unbilled receivables, net of allowance for credit losses. Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The allowance for credit losses is estimated based on the Company’s assessment of the collectibility of accounts receivable by considering various factors, including the age of each outstanding invoice, the collection history of each customer, historical write-off experience, current economic conditions, and reasonable and supportable forecasts of future economic conditions over the life of the receivable. The Company assesses collectibility by reviewing accounts receivable on an aggregate basis when similar characteristics exist and on an individual basis when specific customers with collectibility issues are identified. Accounts receivable deemed uncollectible are charged against the allowance for credit losses when identified.
Capitalized Internal-Use Software Development Costs
Capitalized Internal-Use Software Development Costs

The Company capitalizes qualifying internal-use software development costs, primarily related to its cloud platform. The costs consist of personnel costs (including related benefits and stock-based compensation) that are incurred during the application development stage. Capitalization of costs begins when two criteria are met: (1) the preliminary project stage is completed, and (2) it is probable that the software will be completed and used for its intended function. Capitalization ceases when the software is substantially complete and ready for its intended use, including the completion of all significant testing. Costs related to preliminary project activities and post-implementation operating activities are expensed as incurred.

Capitalized costs are included in property and equipment, net on the consolidated balance sheets. These costs are amortized over the estimated useful life of the software, which is three years, on a straight-line basis. Cost and accumulated amortization of fully amortized capitalized internal-use software development costs are removed from the Company’s consolidated balance sheets when the related software is no longer in use. The amortization of capitalized costs related to the Company’s platform applications is primarily included in cost of revenue in the consolidated statements of operations.
Property and Equipment, Net
Property and Equipment, Net
Property and equipment, net is stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful life of the related asset, ranging from generally three to seven years. Leasehold improvements are amortized over the shorter of estimated useful life or the remaining lease term. Expenses that improve an asset or extend its remaining useful life are capitalized. Costs of maintenance or repairs that do not extend the lives of the respective assets are charged to expenses as incurred. Cost and accumulated depreciation and amortization of fully depreciated property and equipment are removed from the Company’s consolidated balance sheets when they are no longer in use.
Leases
Leases

The Company determines if an arrangement is or contains a lease at inception by evaluating various factors, including if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration and other facts and circumstances. Lease classification is determined at the lease commencement date. Operating leases are included in operating lease right-of-use assets, operating lease liabilities, current, and operating lease liabilities, non-current on the consolidated balance sheets. The Company did not have any material finance leases for all periods presented.
Right-of-use assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease payments consist primarily of the fixed payments under the arrangement, less any lease incentives. Variable lease payments are expensed as incurred and include certain non-lease components, such as maintenance and other services provided by the lessor to the extent the charges are variable. The Company uses an estimate of its incremental borrowing rate (IBR) based on the information available at the lease commencement date in determining the present value of lease payments, unless the implicit rate is readily determinable. In determining the appropriate IBR, the Company considers various factors, including, but not limited to, its credit rating, the lease term, and the currency in which the arrangement is denominated. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

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

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

The Company’s long-lived assets with finite lives consist primarily of property and equipment, capitalized internal-use software development software costs, operating lease right-of-use assets and acquired intangible assets.

Long-lived assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of assets held and used is measured by comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset exceeds these estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the assets exceeds the fair value of the asset or asset group.

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

The Company accounts for each series of its convertible senior notes as a liability in its entirety, measured at amortized cost. Debt issuance costs incurred in connection with the issuance of the Company’s convertible senior notes are reflected in the consolidated balance sheets as a direct deduction from the carrying amount of the outstanding convertible senior notes. These costs are amortized using the effective interest rate method over the terms of the convertible senior notes and are included within interest expense on the consolidated statements of operations.
Capped Call Transactions
In connection with the convertible senior notes offering, the Company entered into privately negotiated capped call transactions relating to each series of convertible senior notes with certain counterparties. The capped call transactions are generally expected to reduce the potential dilution to the Company’s common stock upon any conversion of the relevant series of convertible senior notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted notes of such series, with such reduction and/or offset subject to a cap. See Note 10, “Convertible Senior Notes,” for further details.
The Capped Calls are separate transactions, and not part of the terms of any series of Notes. As the Capped Calls qualify for a scope exception from derivative accounting for instruments that are both indexed to the issuer’s own stock and classified in stockholders’ equity, the premiums paid for the purchases of the Capped Calls was recorded as a reduction to the additional paid-in capital and will not be remeasured as long as they continue to meet the conditions for equity classification.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted
Recently Adopted Accounting Pronouncement

In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which expands segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit and loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This guidance also requires disclosures of the title and position of the CODM, and an explanation of how the CODM uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources. The Company adopted this guidance for its fiscal year ended January 31, 2025 on a retrospective basis. While the adoption had no impact on the Company’s consolidated financial statements, it resulted in additional disclosures in the accompanying notes. See further details under the heading “Segment Information” in this Note 2, “Basis of Presentation and Summary of Significant Accounting Policies.”

Recently Issued Accounting Pronouncements Not Yet Adopted

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 disclosures.
In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires disclosure, on an annual and interim basis, of specified information about certain costs and expenses in the notes to financial statements. This guidance is effective for the Company for its fiscal year beginning February 1, 2027 and interim periods within its fiscal year beginning February 1, 2028 on either a prospective or retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its disclosures.
Intangible Assets, Finite-Lived Cost and accumulated amortization of fully amortized intangible assets are removed from the Company's consolidated balance sheets when they are no longer in use.
v3.25.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 31, 2025
Accounting Policies [Abstract]  
Schedule of Segment Reporting Information, Including Significant Segment Expenses
The following table presents selected financial information with respect to the Company’s single operating segment (in thousands):

Fiscal Year Ended January 31,
202520242023
Revenue
$3,626,396 $2,806,489 $2,065,659 
Cost of revenue and operating expenses:
Cost of product revenue(1)(2)
992,069 701,200 547,547 
Cost of professional services and other revenue(2)
222,604 197,358 169,993 
Sales and marketing(2)
1,672,092 1,391,747 1,106,507 
Research and development(2)
1,783,379 1,287,949 788,058 
General and administrative(2)
412,262 323,008 295,821 
Interest income(209,009)(200,663)(73,839)
Interest expense2,759 — — 
Other (income) expense, net
35,339 (44,887)47,565 
Provision for (benefit from) income taxes4,113 (11,233)(18,467)
Net loss$(1,289,212)$(837,990)$(797,526)
________________
(1)For the fiscal years ended January 31, 2025, 2024, and 2023, respectively, approximately 65%, 67%, and 71% of cost of product revenue represented third-party cloud infrastructure expenses incurred in connection with the customers’ use of the Snowflake platform and the deployment and maintenance of the platform on public clouds, including different regional deployments.
(2)For the fiscal years ended January 31, 2025, 2024, and 2023, respectively, approximately 37%, 38%, and 38% of the Company’s total cost of revenue and operating expenses were comprised of personnel-related expenses, excluding stock-based compensation and associated payroll taxes. These expenses consist primarily of salaries, benefits, bonuses, sales commissions and draws paid to the Company’s sales force and certain referral fees paid to third parties, including amortization of deferred commissions, and associated payroll taxes. They also include salaries, benefits and bonuses allocated as part of overhead costs. See Note 12, “Equity,” for details regarding the Company’s stock-based compensation.
Summary of Long-lived Assets by Geographic Areas
The following table presents the Company’s long-lived assets, comprising property and equipment, net and operating lease right-of-use assets, by geographic area (in thousands):

January 31, 2025January 31, 2024
United States$536,885 $379,664 
Other(1)
118,947 119,928 
Total$655,832 $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 January 31, 2025 and 2024.
v3.25.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations (Tables)
 12 Months Ended
Jan. 31, 2025
Revenue Recognition and Deferred Revenue [Abstract]  
Disaggregation of Revenue
Revenue consists of the following (in thousands):

Fiscal Year Ended January 31,
202520242023
Product revenue$3,462,422 $2,666,849 $1,938,783 
Professional services and other revenue163,974 139,640 126,876 
Total$3,626,396 $2,806,489 $2,065,659 
Revenue from External Customers by Geographic Areas
Revenue by geographic area, based on the location of the Company’s customers (or end-customers under reseller arrangements), was as follows (in thousands):

Fiscal Year Ended January 31,
202520242023
Americas:
United States$2,761,664 $2,166,448 $1,633,843 
Other Americas(1)
101,943 72,784 46,577 
EMEA(1)(2)
574,748 432,634 292,666 
Asia-Pacific and Japan(1)
188,041 134,623 92,573 
Total$3,626,396 $2,806,489 $2,065,659 
________________
(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.
v3.25.1
Cash Equivalents and Investments (Tables)
 12 Months Ended
Jan. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents and Investments
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the consolidated balance sheets (in thousands):

January 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,741,089 $— $— $1,741,089 
U.S. government securities388,578 92 — 388,670 
Time deposits113,851 — — 113,851 
Corporate notes and bonds4,466 — — 4,466 
Commercial paper3,064 — — 3,064 
Total cash equivalents2,251,048 92 — 2,251,140 
Investments:
Corporate notes and bonds1,559,893 2,177 (1,520)1,560,550 
U.S. government and agency securities609,937 528 (727)609,738 
Commercial paper307,752 142 (38)307,856 
Certificates of deposit187,112 97 (4)187,205 
Total investments2,664,694 2,944 (2,289)2,665,349 
Total cash equivalents and investments$4,915,742 $3,036 $(2,289)$4,916,489 
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 equivalents
1,331,709 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 Cash Equivalents and Investments
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the consolidated balance sheets (in thousands):

January 31, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,741,089 $— $— $1,741,089 
U.S. government securities388,578 92 — 388,670 
Time deposits113,851 — — 113,851 
Corporate notes and bonds4,466 — — 4,466 
Commercial paper3,064 — — 3,064 
Total cash equivalents2,251,048 92 — 2,251,140 
Investments:
Corporate notes and bonds1,559,893 2,177 (1,520)1,560,550 
U.S. government and agency securities609,937 528 (727)609,738 
Commercial paper307,752 142 (38)307,856 
Certificates of deposit187,112 97 (4)187,205 
Total investments2,664,694 2,944 (2,289)2,665,349 
Total cash equivalents and investments$4,915,742 $3,036 $(2,289)$4,916,489 
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 equivalents
1,331,709 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 consolidated balance sheets, by remaining contractual maturity, are as follows (in thousands):
January 31, 2025
Estimated
Fair Value
Due within 1 year$2,008,873 
Due in 1 year to 3 years
656,476 
Total$2,665,349 
Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The following tables show the fair values of, and the gross unrealized losses on, the Company’s available-for-sale marketable debt securities, classified by the length of time that the securities have been in a continuous unrealized loss position and aggregated by investment type, on the consolidated balance sheet as of January 31, 2024 (in thousands):

January 31, 2024
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
U.S. government securities$338,893 $(2)$— $— $338,893 $(2)
Total cash equivalents338,893 (2)— — 338,893 (2)
Investments:
Corporate notes and bonds625,766 (1,259)321,952 (2,135)947,718 (3,394)
U.S. government and agency securities525,408 (1,323)191,863 (3,330)717,271 (4,653)
Commercial paper172,422 (131)— — 172,422 (131)
Certificates of deposit71,813 (15)— — 71,813 (15)
Total investments1,395,409 (2,728)513,815 (5,465)1,909,224 (8,193)
Total cash equivalents and investments$1,734,302 $(2,730)$513,815 $(5,465)$2,248,117 $(8,195)
v3.25.1
Fair Value Measurements (Tables)
 12 Months Ended
Jan. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of January 31, 2025 (in thousands):

Level 1
Level 2
Total
Assets:
Cash equivalents:
Money market funds$1,741,089 $— $1,741,089 
U.S. government securities— 388,670 388,670 
Time deposits— 113,851 113,851 
Corporate notes and bonds— 4,466 4,466 
Commercial paper— 3,064 3,064 
Short-term investments:
Corporate notes and bonds— 1,059,181 1,059,181 
U.S. government and agency securities— 456,673 456,673 
Commercial paper— 307,856 307,856 
Certificates of deposit— 185,163 185,163 
Long-term investments:
Corporate notes and bonds— 501,369 501,369 
U.S. government and agency securities— 153,065 153,065 
Certificates of deposit— 2,042 2,042 
Derivative assets:
Foreign currency forward contracts— 1,579 1,579 
Total assets$1,741,089 $3,176,979 $4,918,068 
Liabilities:
Derivative liabilities:
Foreign currency forward contracts$— $(1,639)$(1,639)
Total liabilities
$— $(1,639)$(1,639)
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):

January 31, 2025January 31, 2024
Equity securities:
Non-marketable equity securities under Measurement Alternative$281,158 $190,238 
Non-marketable equity securities under equity method5,491 5,307 
Marketable equity securities13,833 37,320 
Debt securities:
Non-marketable debt securities750 1,500 
Total strategic investments—included in other assets$301,232 $234,365 
Realized and 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):

Fiscal Year Ended January 31,
202520242023
Unrealized gains (losses) on non-marketable equity securities under Measurement Alternative:
Impairments$(11,578)$(3,101)$(38,036)
Upward adjustments— — 4,125 
Net unrealized gains (losses) on marketable equity securities
(2,428)15,197 (12,524)
Net unrealized gains (losses) on strategic investments in equity securities
(14,006)12,096 (46,435)
Net realized gains (losses) on strategic investments in equity securities(1)
(17,414)34,713 — 
Total—included in other income (expense), net$(31,420)$46,809 $(46,435)
________________
(1)The net realized gains on strategic investments in equity securities for the fiscal year ended January 31, 2024 include primarily a remeasurement gain of $34.0 million recognized on a previously held equity interest as a result of a business combination completed during fiscal 2024. See Note 7, “Business Combinations,” for further details. For strategic investments in equity securities sold, the realized gains or losses represent 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.
v3.25.1
Property and Equipment, Net (Tables)
 12 Months Ended
Jan. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):

January 31, 2025January 31, 2024
Leasehold improvements$97,324 $67,804 
Computers, equipment, and software49,575 29,859 
Furniture and fixtures25,473 17,593 
Capitalized internal-use software development costs209,684 93,222 
Construction in progress—capitalized internal-use software development costs28,672 78,737 
Construction in progress—other39,106 34,890 
Total property and equipment, gross449,834 322,105 
Less: accumulated depreciation and amortization(1)
(153,441)(74,641)
Total property and equipment, net$296,393 $247,464 
________________
(1)Include $84.8 million and $30.0 million of accumulated amortization related to capitalized internal-use software development costs as of January 31, 2025 and 2024, respectively.
v3.25.1
Business Combinations (Tables)
 12 Months Ended
Jan. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Business Acquisitions, by Acquisition
The acquisition date fair value of the preliminary purchase consideration was $106.8 million, which was comprised of the following (in thousands):

Estimated Fair Value
Cash$19,096 
Common stock(1)
87,706 
Total
$106,802 
________________
(1)Approximately 0.5 million shares of the Company’s Class A common stock were included in the purchase consideration and the fair values of these shares were determined based on the closing market price of $171.42 per share on the acquisition date.
The acquisition date fair value of the purchase consideration was $219.0 million, which was comprised of the following (in thousands):

Estimated Fair Value
Cash$5,761 
Deferred cash consideration
231 
Common stock(1)
174,225 
Fair value of a previously held equity interest(2)
38,818 
Total
$219,035 
________________
(1)Approximately 0.9 million shares of the Company’s Class A common stock, issued to selling stockholders that were not affiliated with the Company, were included in the purchase consideration, and the fair values of these shares were determined based on the closing market price of $194.28 per share on the acquisition date.
(2)In connection with this business combination, the Company issued approximately 0.2 million shares of its Class A common stock to the Investing Subsidiary in exchange for the Previously Held Equity Interest. The fair values of these shares were determined based on the closing market price of $194.28 per share on the acquisition date. These shares were treated as treasury stock for accounting purposes as of January 31, 2024, and were subsequently transferred to the Company and retired during the fiscal year ended January 31, 2025.
The acquisition date fair value of the purchase consideration was $650.8 million, which was comprised of the following (in thousands):
Estimated Fair Value
Cash$211,839 
Common stock(1)
438,916 
Total
$650,755 
________________
(1)Approximately 1.9 million shares of the Company’s Class A common stock were included in the purchase consideration and the fair values of these shares were determined based on the closing market price of $229.13 per share on the acquisition date.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary allocation of purchase consideration to assets acquired and liabilities assumed based on their respective estimated fair values as of the date of acquisition:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents$5,916 
Short-term investments
7,734 
Goodwill65,893 
Developed technology intangible asset
35,000 5
Other net tangible liabilities
(968)
Deferred tax liabilities, net(1)
(6,773)
Total$106,802 
________________
(1)Deferred tax liabilities, net primarily relate to the intangible asset acquired and the amount presented is net of deferred tax assets.
The allocation of purchase consideration, inclusive of measurement period adjustments, was as follows:
Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents
$9,589 
Goodwill189,858 
Developed technology intangible asset
25,000 5
Other net tangible liabilities
(345)
Deferred tax liabilities, net(1)
(5,067)
Total$219,035 
________________
(1)Deferred tax liabilities, net primarily relate to the intangible asset acquired and the amount presented is net of deferred tax assets.
The allocation of purchase consideration, inclusive of measurement period adjustments, was as follows:
Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash and cash equivalents$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 relate 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 relate 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 relate to the intangible asset acquired and the amount presented is net of deferred tax assets.
The purchase consideration was allocated to assets acquired and liabilities assumed based on their respective estimated fair values. The allocation of purchase consideration, inclusive of measurement period adjustments, was as follows:

Estimated Fair Value
(in thousands)		Estimated Useful Life
(in years)
Cash$61 
Goodwill146,444 
Developed technology intangible asset35,000 
5
Other net tangible liabilities(612)
Deferred tax liabilities, net(1)
(6,202)
Total$174,691 
________________
(1)Deferred tax liabilities, net primarily relate 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$33,914 
Goodwill494,411 
Developer community intangible asset150,000 
5
Other net tangible liabilities(659)
Deferred tax liabilities, net(1)
(26,911)
Total$650,755 
________________
(1)Deferred tax liabilities, net primarily relate 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 Datavolo, as if Datavolo had been acquired as of February 1, 2023 (in thousands):

Pro Forma
Fiscal Year Ended January 31,
20252024
(unaudited)
Revenue$3,626,424 $2,806,489 
Net loss$(1,324,805)$(844,814)
The following unaudited pro forma financial information summarizes the combined results of operations of the Company, and both of Samooha and Neeva, as if each had been acquired as of February 1, 2022 (in thousands):
Pro Forma
Fiscal Year Ended January 31,
20242023
(unaudited)
Revenue$2,806,739 $2,065,730 
Net loss$(932,308)$(937,873)
The following unaudited pro forma financial information summarizes the combined results of operations of the Company and the three companies acquired during fiscal 2023, as if each had been acquired as of February 1, 2021 (in thousands):

Pro Forma
Fiscal Year Ended January 31, 2023
(unaudited)
Revenue$2,067,262 
Net loss$(866,099)
v3.25.1
Intangible Assets and Goodwill (Tables)
 12 Months Ended
Jan. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
Intangible assets, net consisted of the following (in thousands):

January 31, 2025
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$277,063 $(92,033)$185,030 
Developer community154,900 (86,472)68,428 
Assembled workforce55,732 (36,929)18,803 
Patents8,874 (8,005)869 
Customer relationships
4,400 (328)4,072 
Total finite-lived intangible assets$500,969 $(223,767)$277,202 
Indefinite-lived intangible assets—trademarks826 
Total intangible assets, net$278,028 

January 31, 2024
GrossAccumulated AmortizationNet
Finite-lived intangible assets:
Developed technology$243,596 $(47,919)$195,677 
Developer community
154,900 (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 January 31, 2025, future amortization expense is expected to be as follows (in thousands):

Amount
Fiscal Year Ending January 31,
2026$97,208 
202793,056 
202860,490 
202919,851 
20306,597 
Thereafter— 
Total$277,202 
Schedule of Goodwill
Changes in goodwill were as follows (in thousands):

Amount
Balance—January 31, 2023
$657,370 
Additions and related adjustments(1)
318,536 
Balance—January 31, 2024
975,906 
Additions and related adjustments(1)
80,653 
Balance—January 31, 2025
$1,056,559 
________________
(1)Include measurement period adjustments related to the fair values of the assets acquired and liabilities assumed in business combinations. These adjustments did not have material impacts on goodwill. See Note 7, “Business Combinations,” for further details.
v3.25.1
Accrued Expenses and Other Current Liabilities (Tables)
 12 Months Ended
Jan. 31, 2025
Payables and Accruals [Abstract]  
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):

January 31, 2025January 31, 2024
Accrued compensation$194,630 $205,056 
Accrued third-party cloud infrastructure expenses77,944 48,571 
Employee contributions under employee stock purchase plan46,576 40,641 
Liabilities associated with sales, marketing and business development programs44,017 39,571 
Accrued taxes25,819 37,108 
Employee payroll tax withheld on employee stock transactions14,025 22,479 
Accrued professional services14,005 9,274 
Accrued purchases of property and equipment9,896 4,508 
Other88,542 39,652 
Total accrued expenses and other current liabilities$515,454 $446,860 
v3.25.1
Convertible Senior Notes (Tables)
 12 Months Ended
Jan. 31, 2025
Debt Disclosure [Abstract]  
Convertible Senior Notes
The following table presents the details of each series of Notes:

Initial Conversion Rate per $1,000 principal
Initial Conversion Price
Initial number of shares
(in thousands)
2027 Notes
6.3492$157.50 7,302 
2029 Notes
6.3492$157.50 7,302 
The following table presents the net carrying values and fair values of each series of Notes as of January 31, 2025 (in thousands):

Principal
Unamortized Debt Issuance Costs
Net Carrying Value
Fair Value
Amount
Leveling
2027 Notes
$1,150,000 $13,890 $1,136,110 $1,509,295 Level 2
2029 Notes
$1,150,000 $14,581 $1,135,419 $1,539,068 Level 2
Other Key Terms and Premiums Paid for Capped Calls
The following table sets forth other key terms and premiums paid for the Capped Calls related to each series of Notes (in thousands, except per share data):

Capped Calls Entered into in Connection with the Offering of the 2027 Notes
Capped Calls Entered into in Connection with the Offering of the 2029 Notes
Initial number of shares covered, subject to certain adjustments
7,302 7,302 
Initial strike price, subject to certain adjustments
$157.50 $157.50 
Initial cap price, subject to certain adjustments
$225.00 $225.00 
Total premium paid
$94,300 $101,200 
v3.25.1
Commitment and Contingencies (Tables)
 12 Months Ended
Jan. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Lease Cost
The components of lease costs and other information related to leases were as follows (in thousands):

Fiscal Year Ended January 31,
202520242023
Operating lease costs$59,943 $52,892 $46,240 
Variable lease costs14,477 11,667 7,906 
Sublease income(7,539)(11,943)(12,782)
Total lease costs$66,881 $52,616 $41,364 
Supplemental cash flow information and non-cash activity related to the Company’s operating leases were as follows (in thousands):

Fiscal Year Ended January 31,
202520242023
Cash payments included in the measurement of operating lease liabilities—operating cash flows
$47,711 $40,498 $42,342 
Operating lease liabilities arising from obtaining right-of-use assets$148,181 $56,037 $72,158 

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

January 31, 2025January 31, 2024
Weighted-average remaining lease term (years)
7.77.5
Weighted-average discount rate
6.2 %6.1 %
Schedule of Operating Leases and Subleases
The total remaining lease payments under non-cancelable operating leases and lease receipts for subleases as of January 31, 2025 were as follows (in thousands):

Operating Leases
Subleases
Total
Fiscal Year Ending January 31,
2026$22,278 $(5,774)$16,504 
202770,409 (5,960)64,449 
202873,003 (6,153)66,850 
202961,339 (6,351)54,988 
203069,728 (3,235)66,493 
Thereafter260,669 — 260,669 
Total lease payments (receipts)
$557,426 $(27,473)$529,953 
Less: imputed interest(143,685)
Present value of operating lease liabilities$413,741 
Schedule of Other Contractual Commitments
Future minimum payments under the Company’s non-cancelable purchase commitments with a remaining term in excess of one year as of January 31, 2025 are presented in the table below (in thousands):

Amount
Fiscal Year Ending January 31,
2026$569,771 
2027577,133 
2028655,709 
2029964,554 
(1)(2)
2030 and thereafter— 
Total$2,767,167 
________________
(1)Includes $755.3 million of remaining non-cancelable contractual commitments as of January 31, 2025 related to one of the Company’s third-party cloud infrastructure agreements, under which the Company committed to spend an aggregate of at least $1.0 billion between June 2023 and May 2028 with no minimum purchase commitment during any year. The Company is required to pay the difference if it fails to meet the minimum purchase commitment by May 2028 and such payment can be applied to qualifying expenditures for cloud infrastructure services for up to twelve months after May 2028.
(2)Also includes $208.3 million of remaining non-cancelable contractual commitments as of January 31, 2025 related to another one of the Company’s third-party cloud infrastructure agreements, under which the Company committed to spend an aggregate of at least $250.0 million between January 2024 and December 2028 with no minimum purchase commitment during any year. The Company is required to pay the difference if it fails to meet the minimum purchase commitment by December 2028.
v3.25.1
Equity (Tables)
 12 Months Ended
Jan. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Shares Reserved for Future Issuance
The Company had reserved shares of common stock for future issuance as follows (in thousands):

January 31, 2025January 31, 2024
2012 Equity Incentive Plan:
Options outstanding20,067 26,767 
Restricted stock units outstanding— 789 
2020 Equity Incentive Plan:
Options outstanding1,586 602 
Restricted stock units outstanding24,790 20,168 
Shares available for future grants64,834 59,371 
2020 Employee Stock Purchase Plan:
Shares available for future grants16,446 13,764 
Total shares of common stock reserved for future issuance127,723 121,461 
Share Repurchase Activity
The following table summarizes the stock repurchase activity under the Company’s stock repurchase program (in thousands, except per share data):

Fiscal Year Ended January 31,
20252024
Number of shares repurchased14,765 4,012 
Weighted-average price per share(1)
$130.87 $147.49 
Aggregate purchase price(1)
$1,932,164 $591,673 
________________
(1)Excludes transaction costs associated with the repurchases.
Option Activity Rollforward
A summary of stock option activity during the fiscal years ended January 31, 2025, 2024, and 2023 is as follows:

Number of Options Outstanding
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic
Value
(in thousands)
Balance—January 31, 2022
42,043$7.53 6.9$11,283,299 
Granted642$207.56 
Exercised(6,118)$6.50 
Canceled(713)$8.02 
Balance—January 31, 2023
35,854$11.27 5.9$5,237,549 
Exercised(8,357)$6.84 
Canceled(128)$70.59 
Balance—January 31, 2024
27,369$12.35 5.0$5,023,664 
Granted1,037$163.17 
Exercised(6,608)$6.79 
Canceled(145)$78.83 
Balance—January 31, 2025
21,653$20.83 4.2$3,493,648 
Vested and expected to vest as of January 31, 2025
21,653$20.83 4.2$3,493,648 
Exercisable as of January 31, 2025
20,645$13.53 4.1$3,478,059 
Option Rollforward Schedule
A summary of stock option activity during the fiscal years ended January 31, 2025, 2024, and 2023 is as follows:

Number of Options Outstanding
(in thousands)		Weighted-
Average
Exercise Price		Weighted-Average Remaining Contractual Life
(in years)		Aggregate
Intrinsic
Value
(in thousands)
Balance—January 31, 2022
42,043$7.53 6.9$11,283,299 
Granted642$207.56 
Exercised(6,118)$6.50 
Canceled(713)$8.02 
Balance—January 31, 2023
35,854$11.27 5.9$5,237,549 
Exercised(8,357)$6.84 
Canceled(128)$70.59 
Balance—January 31, 2024
27,369$12.35 5.0$5,023,664 
Granted1,037$163.17 
Exercised(6,608)$6.79 
Canceled(145)$78.83 
Balance—January 31, 2025
21,653$20.83 4.2$3,493,648 
Vested and expected to vest as of January 31, 2025
21,653$20.83 4.2$3,493,648 
Exercisable as of January 31, 2025
20,645$13.53 4.1$3,478,059 
Schedule of Unvested RSU Rollforward
A summary of equity-classified RSUs activity during the fiscal years ended January 31, 2025, 2024, and 2023 is as follows:

Number of Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
per Share
Unvested Balance—January 31, 2022
9,612 $180.08 
Granted10,788 $180.65 
Vested(3,348)$165.30 
Forfeited(1,492)$206.02 
Unvested Balance—January 31, 2023
15,560 $181.17 
Granted
12,706 $158.28 
Vested(6,810)$172.38 
Forfeited(1,881)$176.44 
Unvested Balance—January 31, 2024
19,575 $169.82 
Granted
17,096 $142.07 
Vested(9,900)$168.04 
Forfeited(3,367)$163.07 
Performance adjustment(1)
(50)$139.58 
Unvested Balance—January 31, 2025
23,354 $151.30 
________________
(1)Represents an adjustment in the number of shares outstanding, with regards to Leadership PRSUs granted during the fiscal year ended January 31, 2024, based on the actual achievement of the associated Company annual performance targets for fiscal 2024.
A summary of liability-classified RSUs activity during the fiscal years ended January 31, 2025 and 2024 is as follows:

Number of Shares
(in thousands)
Unvested Balance—January 31, 2023
— 
Granted(1)
1,382 
Unvested Balance—January 31, 2024
1,382 
Granted(1)
118 
Forfeited(64)
Unvested Balance—January 31, 2025
1,436 
________________
(1)Represents the maximum number of Acquisition PRSUs that may be eligible to vest with respect to these awards over their full term.
Schedule of Unvested RSA Rollforward
A summary of restricted common stock activity outside of the Plans during the fiscal years ended January 31, 2025, 2024, and 2023 is as follows:

Outside of the Plans
Number of Shares
(in thousands)
Weighted-Average Grant-Date Fair Value
per Share
Unvested Balance—January 31, 2022
380 $2.11 
Granted409 $229.13 
Vested(361)$2.10 
Unvested Balance—January 31, 2023
428 $219.26 
Granted385 $194.28 
Vested(142)$199.28 
Unvested Balance—January 31, 2024
671 $209.15 
Granted445 $162.15 
Vested(219)$213.81 
Forfeited(76)$226.91 
Unvested Balance—January 31, 2025
821 $180.82 
Schedule of Valuation Assumptions The following table summarizes the assumptions used in estimating the grant-date fair values of stock options granted to employees during the fiscal years ended January 31, 2025 and 2023:
Fiscal Year Ended January 31,
20252023
Expected term (in years)
4.8 - 6.0
6.0
Expected volatility
56.6% - 56.7%
50.0 %
Risk-free interest rate
4.2% - 4.4%
1.8 %
Expected dividend yield— %— %
Schedule of Valuation Assumptions Other than Stock Options
The following table summarizes the assumptions used in estimating the fair values of ESPP Rights granted under the 2020 ESPP during the fiscal years ended January 31, 2025, 2024, and 2023:

Fiscal Year Ended January 31,
202520242023
Expected term (in years)0.50.50.5
Expected volatility
46.3% - 49.6%
48.4% - 71.3%
58.9% - 74.8%
Risk-free interest rate
4.5% - 5.4%
4.7% - 5.5%
0.9% - 3.8%
Expected dividend yield— %— %— %
Schedule of Valuation Assumptions, Liability-Classified Performance Shares
The following table summarizes the assumptions used in estimating the fair value of liability-classified Acquisition PRSUs as of January 31, 2025 and 2024:

January 31, 2025January 31, 2024
Expected volatility50.0 %60.0 %
Risk-free interest rate4.2 %4.0 %
Share-based Compensation Schedule
Stock-based compensation included in the consolidated statements of operations was as follows (in thousands):

Fiscal Year Ended January 31,
202520242023
Cost of revenue$142,163 $123,363 $106,302 
Sales and marketing331,807 299,657 246,811 
Research and development852,027 644,928 407,524 
General and administrative153,317 100,067 100,896 
Stock-based compensation, net of amounts capitalized1,479,314 1,168,015 861,533 
Capitalized stock-based compensation38,493 48,830 29,417 
Total stock-based compensation$1,517,807 $1,216,845 $890,950 
v3.25.1
Income Taxes (Tables)
 12 Months Ended
Jan. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Loss Before Income Taxes
The components of loss before income taxes were as follows (in thousands):

Fiscal Year Ended January 31,
202520242023
U.S.$(1,341,798)$(875,703)$(851,538)
Foreign56,699 26,480 35,545 
Loss before income taxes$(1,285,099)$(849,223)$(815,993)
Schedule of Provision for (Benefit from) Income Taxes
The provision for (benefit from) income taxes consists of the following (in thousands):
Fiscal Year Ended January 31,
202520242023
Current provision:
State$806 $754 $626 
Foreign10,978 14,775 7,571 
Deferred benefit:
Federal(6,294)(15,376)(21,647)
State(1,011)(4,700)(4,410)
Foreign(366)(6,686)(607)
Provision for (benefit from) income taxes
$4,113 $(11,233)$(18,467)
Schedule of Effective Income Tax Rate Reconciliation
The effective income tax rate differs from the federal statutory income tax rate applied to the loss before income taxes due to the following (in thousands):

Fiscal Year Ended January 31,
202520242023
Income tax benefit computed at federal statutory rate$(269,871)$(178,337)$(171,359)
State taxes, net of federal benefit33,910 26,380 14,948 
Research and development credits(133,266)(101,725)(58,136)
Stock-based compensation(7,667)(148,600)(71,295)
Change in valuation allowance363,422 371,767 213,532 
IRC Section 59A waived deductions— 11,550 49,476 
Other17,585 7,732 4,367 
Provision for (benefit from) income taxes
$4,113 $(11,233)$(18,467)
Schedule of Deferred Tax Assets and Liabilities
Significant components of the Company’s deferred tax assets and deferred tax liabilities are shown below (in thousands):

January 31, 2025January 31, 2024
Deferred tax assets:
Net operating losses carryforwards$1,707,649 $1,673,213 
Capitalized research and development725,823 420,491 
Tax credit carryforwards511,504 376,804 
Operating lease liabilities104,517 54,008 
Deferred revenue95,779 82,683 
Capped call transactions
45,032 — 
Stock-based compensation36,044 109,446 
Net unrealized losses on strategic investments6,143 2,443 
Other50,790 31,776 
Total deferred tax assets3,283,281 2,750,864 
Less: valuation allowance(3,104,505)(2,621,009)
Net deferred tax assets178,776 129,855 
Deferred tax liabilities:
Intangible assets(27,481)(39,173)
Deferred commissions(56,662)(41,609)
Operating lease right-of-use assets(94,997)(48,629)
Other(234)(1,326)
Total deferred tax liabilities(179,374)(130,737)
Net deferred tax liabilities
$(598)$(882)
Schedule of Unrecognized Tax Benefits Roll Forward
The following table shows the changes in the gross amount of unrecognized tax benefits (in thousands):

Fiscal Year Ended January 31,
202520242023
Beginning balance$115,253 $75,180 $57,715 
Increases based on tax positions during the prior period
655 12,708 1,816 
Increases based on tax positions during the current period
35,752 27,365 15,649 
Ending balance$151,660 $115,253 $75,180 
v3.25.1
Net Loss per Share (Tables)
 12 Months Ended
Jan. 31, 2025
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):

Fiscal Year Ended January 31,
202520242023
Numerator:
Net loss$(1,289,212)$(837,990)$(797,526)
Less: net loss attributable to noncontrolling interest
(3,572)(1,893)(821)
Net loss attributable to Snowflake Inc. Class A common stockholders
$(1,285,640)$(836,097)$(796,705)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted
332,707 328,001 318,730 
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted
$(3.86)$(2.55)$(2.50)
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):

Fiscal Year Ended January 31,
202520242023
RSUs24,790 20,957 15,560 
Stock options21,653 27,369 35,854 
Shares underlying the conversion option in the Notes
14,603 — — 
Unvested restricted common stock and early exercised stock options
821 671 446 
ESPP Rights
569 284 265 
Total62,436 49,281 52,125 
v3.25.1
Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Segment Reporting Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Segment Reporting Information [Line Items]      
Revenue $ 3,626,396 $ 2,806,489 $ 2,065,659
Cost of revenue 1,214,673 898,558 717,540
Sales and marketing 1,672,092 1,391,747 1,106,507
Research and development 1,783,379 1,287,949 788,058
General and administrative 412,262 323,008 295,821
Interest income 209,009 200,663 73,839
Interest expense (2,759) 0 0
Other income (expense), net (35,339) 44,887 (47,565)
Provision for (benefit from) income taxes 4,113 (11,233) (18,467)
Net loss (1,289,212) (837,990) (797,526)
Product revenue      
Segment Reporting Information [Line Items]      
Revenue 3,462,422 2,666,849 1,938,783
Professional services and other revenue      
Segment Reporting Information [Line Items]      
Revenue $ 163,974 $ 139,640 $ 126,876
Third-Party Cloud Infrastructure Expenses | Cost Of Product Revenue Benchmark | Cost Of Product Revenue Type Risk      
Segment Reporting Information [Line Items]      
Concentration risk, percentage 65.00% 67.00% 71.00%
Personnel-Related Expenses | Cost Of Revenue And Operating Expenses Benchmark | Cost Of Revenue And Operating Expenses Type Risk      
Segment Reporting Information [Line Items]      
Concentration risk, percentage 37.00% 38.00% 38.00%
Reportable Segment      
Segment Reporting Information [Line Items]      
Revenue $ 3,626,396 $ 2,806,489 $ 2,065,659
Sales and marketing 1,672,092 1,391,747 1,106,507
Research and development 1,783,379 1,287,949 788,058
General and administrative 412,262 323,008 295,821
Interest income (209,009) (200,663) (73,839)
Interest expense 2,759 0 0
Other income (expense), net 35,339 (44,887) 47,565
Provision for (benefit from) income taxes 4,113 (11,233) (18,467)
Net loss (1,289,212) (837,990) (797,526)
Reportable Segment | Product revenue      
Segment Reporting Information [Line Items]      
Cost of revenue 992,069 701,200 547,547
Reportable Segment | Professional services and other revenue      
Segment Reporting Information [Line Items]      
Cost of revenue $ 222,604 $ 197,358 $ 169,993
v3.25.1
Basis of Presentation and Summary of Significant Accounting Policies - Summary of Long-lived Assets by Geographic Areas (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 655,832 $ 499,592
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total 536,885 379,664
Other    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total $ 118,947 $ 119,928
v3.25.1
Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Concentration Risk [Line Items]      
Advertising costs $ 104,500,000 $ 85,300,000 $ 68,200,000
Incremental cost amortization period 5 years    
Impairment losses $ 0 $ 0 $ 0
Software and Software Development Costs      
Concentration Risk [Line Items]      
Estimated useful life 3 years    
Minimum      
Concentration Risk [Line Items]      
Contract term 1 year    
Estimated useful life 3 years    
Maximum      
Concentration Risk [Line Items]      
Contract term 4 years    
Estimated useful life 7 years    
On-demand arrangements | Revenue from Contract with Customer Benchmark | Product and Service      
Concentration Risk [Line Items]      
Concentration risk, percentage 2.00% 3.00% 2.00%
v3.25.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Disaggregation of Revenue [Line Items]      
Revenue $ 3,626,396 $ 2,806,489 $ 2,065,659
Product revenue      
Disaggregation of Revenue [Line Items]      
Revenue 3,462,422 2,666,849 1,938,783
Professional services and other revenue      
Disaggregation of Revenue [Line Items]      
Revenue $ 163,974 $ 139,640 $ 126,876
v3.25.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Revenue from External Customers by Geographic Areas (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Disaggregation of Revenue [Line Items]      
Revenue $ 3,626,396 $ 2,806,489 $ 2,065,659
United States      
Disaggregation of Revenue [Line Items]      
Revenue 2,761,664 2,166,448 1,633,843
Other Americas      
Disaggregation of Revenue [Line Items]      
Revenue 101,943 72,784 46,577
EMEA      
Disaggregation of Revenue [Line Items]      
Revenue 574,748 432,634 292,666
Asia-Pacific and Japan      
Disaggregation of Revenue [Line Items]      
Revenue $ 188,041 $ 134,623 $ 92,573
v3.25.1
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Disaggregation of Revenue [Line Items]      
Allowance for doubtful accounts $ 4.8 $ 2.5  
Revenue recognized 1,800.0 $ 1,400.0 $ 974.3
Remaining performance obligation $ 6,900.0    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-02-01      
Disaggregation of Revenue [Line Items]      
Revenue, remaining performance obligation, percentage 48.00%    
Remaining performance obligation, remaining life 12 months    
v3.25.1
Cash Equivalents and Investments - Schedule of Cash and Cash Equivalents and Investments Fair Value (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Cash equivalents:    
Amortized Cost $ 2,251,048 $ 1,331,709
Gross Unrealized Gains 92 1
Gross Unrealized Losses 0 (2)
Estimated Fair Value 2,251,140 1,331,708
Investments:    
Amortized Cost 2,664,694 3,005,041
Gross Unrealized Gains 2,944 2,958
Gross Unrealized Losses (2,289) (8,193)
Estimated Fair Value 2,665,349 2,999,806
Amortized Cost 4,915,742 4,336,750
Gross Unrealized Gains 3,036 2,959
Gross Unrealized Losses (2,289) (8,195)
Estimated Fair Value 4,916,489 4,331,514
Corporate notes and bonds    
Investments:    
Amortized Cost 1,559,893 1,549,151
Gross Unrealized Gains 2,177 1,959
Gross Unrealized Losses (1,520) (3,394)
Estimated Fair Value 1,560,550 1,547,716
U.S. government and agency securities    
Investments:    
Amortized Cost 609,937 877,496
Gross Unrealized Gains 528 574
Gross Unrealized Losses (727) (4,653)
Estimated Fair Value 609,738 873,417
Commercial paper    
Investments:    
Amortized Cost 307,752 353,525
Gross Unrealized Gains 142 154
Gross Unrealized Losses (38) (131)
Estimated Fair Value 307,856 353,548
Certificates of deposit    
Investments:    
Amortized Cost 187,112 224,869
Gross Unrealized Gains 97 271
Gross Unrealized Losses (4) (15)
Estimated Fair Value 187,205 225,125
Money market funds    
Cash equivalents:    
Amortized Cost 1,741,089 533,211
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 1,741,089 533,211
U.S. government securities    
Cash equivalents:    
Amortized Cost 388,578 742,235
Gross Unrealized Gains 92 1
Gross Unrealized Losses 0 (2)
Estimated Fair Value 388,670 742,234
Time deposits    
Cash equivalents:    
Amortized Cost 113,851 56,263
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 113,851 $ 56,263
Corporate notes and bonds    
Cash equivalents:    
Amortized Cost 4,466  
Gross Unrealized Gains 0  
Gross Unrealized Losses 0  
Estimated Fair Value 4,466  
Commercial paper    
Cash equivalents:    
Amortized Cost 3,064  
Gross Unrealized Gains 0  
Gross Unrealized Losses 0  
Estimated Fair Value $ 3,064  
v3.25.1
Cash Equivalents and Investments - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Debt Securities, Available-for-sale, Unrealized Loss Position    
Contractual maturities of available-for-sale debt securities, maximum 36 months  
Gross unrealized losses on available-for-sale marketable debt securities $ 0 $ 8,195,000
Prepaid Expenses and Other Current Assets    
Debt Securities, Available-for-sale, Unrealized Loss Position    
Interest receivable, current $ 23,600,000 $ 24,200,000
v3.25.1
Cash Equivalents and Investments - Available for Sale Securities Remaining Contractual Maturity (Details)
$ in Thousands
Jan. 31, 2025
USD ($)
Investments, Debt and Equity Securities [Abstract]  
Due within 1 year $ 2,008,873
Due in 1 year to 3 years 656,476
Total $ 2,665,349
v3.25.1
Cash Equivalents and Investments - Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - USD ($)
Jan. 31, 2025
Jan. 31, 2024
Cash Equivalents, Fair Value    
Less than 12 months, fair value   $ 338,893,000
12 months or greater, fair value   0
Total, fair value   338,893,000
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses   (2,000)
12 months or greater, accumulated losses   0
Total, accumulated losses   (2,000)
Investments, Fair Value    
Less than 12 months, fair value   1,395,409,000
12 months or greater, fair value   513,815,000
Total, fair value   1,909,224,000
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses   (2,728,000)
12 months or greater, accumulated losses   (5,465,000)
Total, accumulated losses   (8,193,000)
Cash Equivalents And Debt Securities, Available-For-Sale [Abstract]    
Less than 12 months, fair value   1,734,302,000
12 months or greater, fair value   513,815,000
Total, fair value   2,248,117,000
Cash Equivalents And Debt Securities, Available-For-Sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Less than 12 months, accumulated losses   (2,730,000)
12 months or greater, accumulated losses   (5,465,000)
Total, accumulated losses $ 0 (8,195,000)
Corporate notes and bonds    
Investments, Fair Value    
Less than 12 months, fair value   625,766,000
12 months or greater, fair value   321,952,000
Total, fair value   947,718,000
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses   (1,259,000)
12 months or greater, accumulated losses   (2,135,000)
Total, accumulated losses   (3,394,000)
U.S. government and agency securities    
Investments, Fair Value    
Less than 12 months, fair value   525,408,000
12 months or greater, fair value   191,863,000
Total, fair value   717,271,000
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses   (1,323,000)
12 months or greater, accumulated losses   (3,330,000)
Total, accumulated losses   (4,653,000)
Commercial paper    
Investments, Fair Value    
Less than 12 months, fair value   172,422,000
12 months or greater, fair value   0
Total, fair value   172,422,000
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses   (131,000)
12 months or greater, accumulated losses   0
Total, accumulated losses   (131,000)
Certificates of deposit    
Investments, Fair Value    
Less than 12 months, fair value   71,813,000
12 months or greater, fair value   0
Total, fair value   71,813,000
Investments, Gross Unrealized Losses    
Less than 12 months, accumulated losses   (15,000)
12 months or greater, accumulated losses   0
Total, accumulated losses   (15,000)
U.S. government securities    
Cash Equivalents, Fair Value    
Less than 12 months, fair value   338,893,000
12 months or greater, fair value   0
Total, fair value   338,893,000
Cash Equivalents, Gross Unrealized Losses    
Less than 12 months, accumulated losses   (2,000)
12 months or greater, accumulated losses   0
Total, accumulated losses   $ (2,000)
v3.25.1
Fair Value Measurements - Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Assets:    
Cash equivalents: $ 2,251,140 $ 1,331,708
Short-term investments 2,008,873 2,083,499
Long-term investments $ 656,476 $ 916,307
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Prepaid expenses and other current assets Prepaid expenses and other current assets
Liabilities:    
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued expenses and other current liabilities Accrued expenses and other current liabilities
Money market funds    
Assets:    
Cash equivalents: $ 1,741,089 $ 533,211
U.S. government securities    
Assets:    
Cash equivalents: 388,670 742,234
Time deposits    
Assets:    
Cash equivalents: 113,851 56,263
Corporate notes and bonds    
Assets:    
Cash equivalents: 4,466  
Commercial paper    
Assets:    
Cash equivalents: 3,064  
Recurring    
Assets:    
Derivative assets 1,579 60
Total assets 4,918,068 4,331,574
Liabilities:    
Derivative liabilities (1,639) (745)
Total liabilities (1,639) (745)
Recurring | Corporate notes and bonds    
Assets:    
Short-term investments 1,059,181 939,727
Long-term investments 501,369 607,989
Recurring | U.S. government and agency securities    
Assets:    
Short-term investments 456,673 573,780
Long-term investments 153,065 299,637
Recurring | Commercial paper    
Assets:    
Short-term investments 307,856 353,548
Recurring | Certificates of deposit    
Assets:    
Short-term investments 185,163 216,444
Long-term investments 2,042 8,681
Recurring | Money market funds    
Assets:    
Cash equivalents: 1,741,089 533,211
Recurring | U.S. government securities    
Assets:    
Cash equivalents: 388,670 742,234
Recurring | Time deposits    
Assets:    
Cash equivalents: 113,851 56,263
Recurring | Corporate notes and bonds    
Assets:    
Cash equivalents: 4,466  
Recurring | Commercial paper    
Assets:    
Cash equivalents: 3,064  
Recurring | Level 1    
Assets:    
Derivative assets 0 0
Total assets 1,741,089 533,211
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: 1,741,089 533,211
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 | Corporate notes and bonds    
Assets:    
Cash equivalents: 0  
Recurring | Level 1 | Commercial paper    
Assets:    
Cash equivalents: 0  
Recurring | Level 2    
Assets:    
Derivative assets 1,579 60
Total assets 3,176,979 3,798,363
Liabilities:    
Derivative liabilities (1,639) (745)
Total liabilities (1,639) (745)
Recurring | Level 2 | Corporate notes and bonds    
Assets:    
Short-term investments 1,059,181 939,727
Long-term investments 501,369 607,989
Recurring | Level 2 | U.S. government and agency securities    
Assets:    
Short-term investments 456,673 573,780
Long-term investments 153,065 299,637
Recurring | Level 2 | Commercial paper    
Assets:    
Short-term investments 307,856 353,548
Recurring | Level 2 | Certificates of deposit    
Assets:    
Short-term investments 185,163 216,444
Long-term investments 2,042 8,681
Recurring | Level 2 | Money market funds    
Assets:    
Cash equivalents: 0 0
Recurring | Level 2 | U.S. government securities    
Assets:    
Cash equivalents: 388,670 742,234
Recurring | Level 2 | Time deposits    
Assets:    
Cash equivalents: 113,851 $ 56,263
Recurring | Level 2 | Corporate notes and bonds    
Assets:    
Cash equivalents: 4,466  
Recurring | Level 2 | Commercial paper    
Assets:    
Cash equivalents: $ 3,064  
v3.25.1
Fair Value Measurements - Schedule of Fair Value Measurements (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Fair Value Disclosures [Abstract]    
Non-marketable equity securities under Measurement Alternative $ 281,158 $ 190,238
Non-marketable equity securities under equity method 5,491 5,307
Marketable equity securities 13,833 37,320
Non-marketable debt securities 750 1,500
Total strategic investments—included in other assets $ 301,232 $ 234,365
v3.25.1
Fair Value Measurements - Unrealized Gain (Loss) on Investments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Impairments $ (11,578) $ (3,101) $ (38,036)
Upward adjustments 0 0 4,125
Net unrealized gains (losses) on marketable equity securities (2,428) 15,197 (12,524)
Net unrealized gains (losses) on strategic investments in equity securities (14,006) 12,096 (46,435)
Net realized gains (losses) on strategic investments in equity securities (17,414) 34,713 0
Total—included in other income (expense), net $ (31,420) 46,809 $ (46,435)
Samooha, Inc.      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Equity interest in acquiree, remeasurement gain   $ 34,000  
v3.25.1
Fair Value Measurements - Narrative (Details)
$ in Millions
Jan. 31, 2025
USD ($)
Fair Value Disclosures [Abstract]  
Cumulative amount of upward adjustments $ 18.3
Impairments $ 33.9
v3.25.1
Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Property, Plant and Equipment    
Total property and equipment, gross $ 449,834 $ 322,105
Less: accumulated depreciation and amortization (153,441) (74,641)
Total property and equipment, net 296,393 247,464
Leasehold improvements    
Property, Plant and Equipment    
Total property and equipment, gross 97,324 67,804
Computers, equipment, and software    
Property, Plant and Equipment    
Total property and equipment, gross 49,575 29,859
Furniture and fixtures    
Property, Plant and Equipment    
Total property and equipment, gross 25,473 17,593
Capitalized internal-use software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 209,684 93,222
Less: accumulated depreciation and amortization (84,800) (30,000)
Construction in progress—capitalized internal-use software development costs    
Property, Plant and Equipment    
Total property and equipment, gross 28,672 78,737
Construction in progress—other    
Property, Plant and Equipment    
Total property and equipment, gross $ 39,106 $ 34,890
v3.25.1
Property and Equipment, Net - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Property, Plant and Equipment [Abstract]      
Depreciation $ 85,600,000 $ 37,700,000 $ 24,700,000
Accumulated amortization, property, plant, and equipment 56,400,000 19,000,000 10,200,000
Impairment of capitalized internal-use software $ 0 $ 7,100,000 $ 0
v3.25.1
Business Combinations - Schedule of Acquisition Date Fair Value of Consideration Transferred (Details) - USD ($)
$ / shares in Units, $ in Thousands, shares in Millions
 12 Months Ended
Nov. 25, 2024
Dec. 20, 2023
Mar. 31, 2022
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Business Acquisition [Line Items]            
Common stock       $ 87,706 $ 174,284 $ 438,916
Datavolo, Inc.            
Business Acquisition [Line Items]            
Cash $ 19,096          
Total $ 106,802          
Business acquisition, share price (in dollars per share) $ 171.42          
Datavolo, Inc. | Class A Common Stock            
Business Acquisition [Line Items]            
Common stock $ 87,706          
Business acquisition, equity interest issued or issuable (in shares) 0.5          
Samooha, Inc.            
Business Acquisition [Line Items]            
Cash   $ 5,761        
Deferred cash consideration   231        
Fair value of a previously held equity interest   38,818        
Total   $ 219,035        
Business acquisition, share price (in dollars per share)   $ 194.28        
Samooha, Inc. | Investing Subsidiary            
Business Acquisition [Line Items]            
Business acquisition, equity interest issued or issuable (in shares)   0.2     0.2  
Treasury stock retired (in shares)       0.2    
Samooha, Inc. | Class A Common Stock            
Business Acquisition [Line Items]            
Common stock   $ 174,225        
Samooha, Inc. | Class A Common Stock | Non-affiliated Selling Stockholders            
Business Acquisition [Line Items]            
Business acquisition, equity interest issued or issuable (in shares)   0.9        
Streamlit, Inc.            
Business Acquisition [Line Items]            
Cash     $ 211,839      
Total     650,755      
Streamlit, Inc. | Class A Common Stock            
Business Acquisition [Line Items]            
Common stock     $ 438,916      
Business acquisition, equity interest issued or issuable (in shares)     1.9      
Business acquisition, share price (in dollars per share)     $ 229.13      
v3.25.1
Business Combinations - Narrative (Details)
shares in Thousands
 3 Months Ended 12 Months Ended
Nov. 25, 2024
USD ($)
shares
Dec. 20, 2023
USD ($)
shares
Feb. 10, 2023
USD ($)
Sep. 23, 2022
USD ($)
Mar. 31, 2022
USD ($)
founder
shares
Jul. 31, 2023
USD ($)
Jan. 31, 2025
USD ($)
company
shares
Jan. 31, 2024
USD ($)
shares
Jan. 31, 2023
USD ($)
company
founder
shares
Dec. 19, 2023
USD ($)
Business Acquisition [Line Items]                    
Number of businesses acquired | company                 3  
Goodwill             $ 1,056,559,000 $ 975,906,000 $ 657,370,000  
Non-marketable equity securities under Measurement Alternative             281,158,000 190,238,000    
Samooha, Inc.                    
Business Acquisition [Line Items]                    
Non-marketable equity securities under Measurement Alternative                   $ 4,800,000
Datavolo, Inc.                    
Business Acquisition [Line Items]                    
Useful life 5 years                  
Goodwill $ 65,893,000                  
Business combination, acquisition related costs             $ 0      
Cash and cash equivalents 5,916,000                  
Intangible assets acquired $ 35,000,000                  
Two Privately-Held Companies                    
Business Acquisition [Line Items]                    
Number of businesses acquired | company             2      
Consideration transferred             $ 19,200,000      
Liabilities acquired             (3,500,000)      
Deferred tax liability             (600,000)      
Goodwill             14,800,000      
Goodwill, tax deductible amount             8,300,000      
Goodwill, amount not tax deductible             6,500,000      
Business combination, acquisition related costs             0      
Two Privately-Held Companies | Customer relationships                    
Business Acquisition [Line Items]                    
Intangible assets             $ 4,400,000      
Useful life             5 years      
Two Privately-Held Companies | Developed technology                    
Business Acquisition [Line Items]                    
Intangible assets             $ 4,100,000      
Useful life             5 years      
Samooha, Inc.                    
Business Acquisition [Line Items]                    
Useful life   5 years                
Goodwill   $ 189,858,000                
Business combination, acquisition related costs               0    
Equity interest in acquiree, remeasurement gain               34,000,000    
Cash and cash equivalents   9,589,000                
Intangible assets acquired   $ 25,000,000                
Neeva Inc.                    
Business Acquisition [Line Items]                    
Consideration transferred           $ 185,400,000        
Useful life           5 years        
Goodwill           $ 62,931,000        
Business combination, acquisition related costs               0    
Cash and cash equivalents           43,968,000        
Intangible assets acquired           $ 83,000,000        
Mountain US Corporation (formerly known as Mobilize.Net Corporation)                    
Business Acquisition [Line Items]                    
Consideration transferred     $ 76,300,000              
Useful life     5 years              
Goodwill     $ 46,426,000              
Business combination, acquisition related costs               0    
Cash and cash equivalents     11,594,000              
Intangible assets acquired     33,000,000              
LeapYear Technologies, Inc.                    
Business Acquisition [Line Items]                    
Consideration transferred     $ 62,000,000              
Useful life     5 years              
Goodwill     $ 9,029,000              
Business combination, acquisition related costs               0    
Cash and cash equivalents     3,563,000              
Intangible assets acquired     $ 53,000,000              
Privately-Held Company                    
Business Acquisition [Line Items]                    
Consideration transferred               $ 16,600,000 10,400,000  
Intangible assets                 $ 2,000,000  
Useful life               5 years 5 years  
Goodwill               $ 10,100,000 $ 8,100,000  
Business combination, acquisition related costs               0 0  
Cash and cash equivalents               1,600,000    
Intangible assets acquired               $ 4,900,000    
Net tangible assets acquired                 300,000  
Applica Sp. z.o.o.                    
Business Acquisition [Line Items]                    
Consideration transferred       $ 174,700,000            
Useful life       5 years            
Goodwill       $ 146,444,000            
Business combination, acquisition related costs                 3,400,000  
Cash and cash equivalents       61,000            
Intangible assets acquired       $ 35,000,000            
Streamlit, Inc.                    
Business Acquisition [Line Items]                    
Consideration transferred         $ 650,800,000          
Useful life         5 years          
Goodwill         $ 494,411,000          
Business combination, acquisition related costs                 $ 1,900,000  
Cash and cash equivalents         33,914,000          
Intangible assets acquired         $ 150,000,000          
Number of founders | founder         3       3  
Restricted Common Stock | Outside of the Plans                    
Business Acquisition [Line Items]                    
Granted (in shares) | shares             445 385 409  
Restricted Common Stock | Datavolo, Inc. | Outside of the Plans | Class A Common Stock                    
Business Acquisition [Line Items]                    
Granted (in shares) | shares 400           400      
Vesting period (in years) 4 years           4 years      
Fair value $ 64,600,000           $ 64,600,000      
Requisite service period (in years) 4 years           4 years      
Restricted Common Stock | Samooha, Inc. | Outside of the Plans | Class A Common Stock                    
Business Acquisition [Line Items]                    
Granted (in shares) | shares   400           400    
Vesting period (in years)   4 years           4 years    
Fair value   $ 74,800,000           $ 74,800,000    
Requisite service period (in years)   4 years           4 years    
Restricted Common Stock | Streamlit, Inc. | Outside of the Plans | Class A Common Stock                    
Business Acquisition [Line Items]                    
Granted (in shares) | shares         400       400  
Vesting period (in years)         3 years       3 years  
Fair value         $ 93,700,000       $ 93,700,000  
Requisite service period (in years)         3 years       3 years  
v3.25.1
Business Combinations - Schedule of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
 3 Months Ended
Nov. 25, 2024
Dec. 20, 2023
Feb. 10, 2023
Sep. 23, 2022
Mar. 31, 2022
Jul. 31, 2023
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Business Acquisition [Line Items]                  
Goodwill             $ 1,056,559 $ 975,906 $ 657,370
Datavolo, Inc.                  
Business Acquisition [Line Items]                  
Cash and cash equivalents $ 5,916                
Short-term investments 7,734                
Goodwill 65,893                
Intangible assets acquired $ 35,000                
Useful life 5 years                
Other net tangible liabilities $ (968)                
Deferred tax liabilities, net (6,773)                
Total $ 106,802                
Samooha, Inc.                  
Business Acquisition [Line Items]                  
Cash and cash equivalents   $ 9,589              
Goodwill   189,858              
Intangible assets acquired   $ 25,000              
Useful life   5 years              
Other net tangible liabilities   $ (345)              
Deferred tax liabilities, net   (5,067)              
Total   $ 219,035              
Neeva Inc.                  
Business Acquisition [Line Items]                  
Cash and cash equivalents           $ 43,968      
Goodwill           62,931      
Intangible assets acquired           $ 83,000      
Useful life           5 years      
Other net tangible liabilities           $ (759)      
Deferred tax liabilities, net           (3,713)      
Total           $ 185,427      
Mountain US Corporation (formerly known as Mobilize.Net Corporation)                  
Business Acquisition [Line Items]                  
Cash and cash equivalents     $ 11,594            
Goodwill     46,426            
Intangible assets acquired     $ 33,000            
Useful life     5 years            
Other net tangible liabilities     $ (6,623)            
Deferred tax liabilities, net     (8,136)            
Total     76,261            
LeapYear Technologies, Inc.                  
Business Acquisition [Line Items]                  
Cash and cash equivalents     3,563            
Goodwill     9,029            
Intangible assets acquired     $ 53,000            
Useful life     5 years            
Other net tangible liabilities     $ (1,434)            
Deferred tax liabilities, net     (2,150)            
Total     $ 62,008            
Applica Sp. z.o.o.                  
Business Acquisition [Line Items]                  
Cash and cash equivalents       $ 61          
Goodwill       146,444          
Intangible assets acquired       $ 35,000          
Useful life       5 years          
Other net tangible liabilities       $ (612)          
Deferred tax liabilities, net       (6,202)          
Total       $ 174,691          
Streamlit, Inc.                  
Business Acquisition [Line Items]                  
Cash and cash equivalents         $ 33,914        
Goodwill         494,411        
Intangible assets acquired         $ 150,000        
Useful life         5 years        
Other net tangible liabilities         $ (659)        
Deferred tax liabilities, net         (26,911)        
Total         $ 650,755        
v3.25.1
Business Combinations - Pro Forma Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Datavolo, Inc.      
Business Acquisition [Line Items]      
Revenue $ 3,626,424 $ 2,806,489  
Net loss $ (1,324,805) (844,814)  
Samooha, Inc. And Neeva Inc.      
Business Acquisition [Line Items]      
Revenue   2,806,739 $ 2,065,730
Net loss   $ (932,308) (937,873)
Applica Sp. z.o.o., Streamlit, Inc, And Privately-Held Company      
Business Acquisition [Line Items]      
Revenue     2,067,262
Net loss     $ (866,099)
v3.25.1
Intangible Assets and Goodwill - Schedule of Intangible Assets (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross $ 500,969 $ 463,102
Accumulated Amortization (223,767) (132,517)
Net 277,202 330,585
Indefinite-lived intangible assets—trademarks 826 826
Total intangible assets, net 278,028 331,411
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross 277,063 243,596
Accumulated Amortization (92,033) (47,919)
Net 185,030 195,677
Developer community    
Finite-Lived Intangible Assets [Line Items]    
Gross 154,900 154,900
Accumulated Amortization (86,472) (55,442)
Net 68,428 99,458
Assembled workforce    
Finite-Lived Intangible Assets [Line Items]    
Gross 55,732 55,732
Accumulated Amortization (36,929) (22,945)
Net 18,803 32,787
Patents    
Finite-Lived Intangible Assets [Line Items]    
Gross 8,874 8,874
Accumulated Amortization (8,005) (6,211)
Net 869 $ 2,663
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross 4,400  
Accumulated Amortization (328)  
Net $ 4,072  
v3.25.1
Intangible Assets and Goodwill - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Finite-Lived Intangible Assets [Line Items]      
Amortization expense $ 96.9 $ 82.2 $ 38.8
Assembled workforce      
Finite-Lived Intangible Assets [Line Items]      
Intangible assets acquired   $ 27.5  
Useful life   4 years  
v3.25.1
Intangible Assets and Goodwill - Schedule of Future Amortization Expense (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
2026 $ 97,208  
2027 93,056  
2028 60,490  
2029 19,851  
2030 6,597  
Thereafter 0  
Net $ 277,202 $ 330,585
v3.25.1
Intangible Assets and Goodwill - Schedule of Goodwill (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Goodwill [Roll Forward]    
Beginning balance $ 975,906 $ 657,370
Additions and related adjustments 80,653 318,536
Ending balance $ 1,056,559 $ 975,906
v3.25.1
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Payables and Accruals [Abstract]    
Accrued compensation $ 194,630 $ 205,056
Accrued third-party cloud infrastructure expenses 77,944 48,571
Employee contributions under employee stock purchase plan 46,576 40,641
Liabilities associated with sales, marketing and business development programs 44,017 39,571
Accrued taxes 25,819 37,108
Employee payroll tax withheld on employee stock transactions 14,025 22,479
Accrued professional services 14,005 9,274
Accrued purchases of property and equipment 9,896 4,508
Other 88,542 39,652
Accrued expenses and other current liabilities $ 515,454 $ 446,860
v3.25.1
Convertible Senior Notes - Narrative (Details)
 1 Months Ended 12 Months Ended
Sep. 30, 2024
USD ($)
day
$ / shares
Jan. 31, 2025
USD ($)
$ / shares
Jan. 31, 2024
USD ($)
$ / shares
Jan. 31, 2023
USD ($)
Debt Instrument [Line Items]        
Amortization of debt issuance costs   $ 2,759,000 $ 0 $ 0
Purchases of capped calls related to convertible senior notes   195,500,000 0 $ 0
Aggregate purchase price   $ 1,932,164,000 $ 591,673,000  
Weighted-average price per share (in dollars per share) | $ / shares   $ 130.87 $ 147.49  
Class A Common Stock        
Debt Instrument [Line Items]        
Common stock, par value (in dollars per share) | $ / shares   $ 0.0001 $ 0.0001  
Class A Common Stock | Shares Repurchased In Privately Negotiated Transactions Entered Into In Connection With Convertible Senior Notes        
Debt Instrument [Line Items]        
Aggregate purchase price $ 399,600,000      
Weighted-average price per share (in dollars per share) | $ / shares $ 112.50      
Debt Conversion Terms One | Class A Common Stock        
Debt Instrument [Line Items]        
Common stock, par value (in dollars per share) | $ / shares $ 0.0001      
Convertible Senior Notes        
Debt Instrument [Line Items]        
Purchases of capped calls related to convertible senior notes $ 195,500,000      
Convertible Senior Notes | Convertible Debt        
Debt Instrument [Line Items]        
Face amount of debt issued 2,300,000,000      
Proceeds from convertible debt, net of issuance costs 2,270,000,000      
Debt issuance costs $ 31,200,000      
Redemption price, percentage of principal amount redeemed, under fundamental changes 1      
Amortization of debt issuance costs   $ 0    
Convertible Senior Notes | Convertible Debt | Debt Conversion Terms One        
Debt Instrument [Line Items]        
Threshold number of trading days | day 20      
Threshold number of consecutive trading days | day 30      
Threshold percentage of stock trading price 130.00%      
Convertible Senior Notes | Convertible Debt | Debt Conversion Terms Two        
Debt Instrument [Line Items]        
Threshold number of trading days | day 5      
Threshold number of consecutive trading days | day 10      
Threshold percentage of stock trading price 98.00%      
Convertible Senior Notes Due 2027 | Call Option        
Debt Instrument [Line Items]        
Cap price, subject to certain adjustments (in dollars per share) | $ / shares $ 225.00      
Convertible Senior Notes Due 2027 | Convertible Debt        
Debt Instrument [Line Items]        
Face amount of debt issued $ 1,150,000,000      
Stated interest percentage 0.00%      
Threshold percentage of stock trading price 1.50      
Threshold number of trading days | day 20      
Threshold number of consecutive trading days | day 30      
Redemption price, percentage 100.00%      
Effective interest rate, percentage 0.04%      
Convertible Senior Notes Due 2029 | Call Option        
Debt Instrument [Line Items]        
Cap price, subject to certain adjustments (in dollars per share) | $ / shares $ 225.00      
Convertible Senior Notes Due 2029 | Convertible Debt        
Debt Instrument [Line Items]        
Face amount of debt issued $ 1,150,000,000      
Stated interest percentage 0.00%      
Threshold percentage of stock trading price 1.30      
Threshold number of trading days | day 20      
Threshold number of consecutive trading days | day 30      
Redemption price, percentage 100.00%      
Effective interest rate, percentage 0.02%      
v3.25.1
Convertible Senior Notes - Summary of Convertible Notes (Details) - Convertible Debt
shares in Thousands
 1 Months Ended
Sep. 30, 2024
$ / shares
shares
Convertible Senior Notes Due 2027  
Debt Instrument [Line Items]  
Initial Conversion Rate per $1,000 principal 0.0063492
Initial conversion price (in dollars per share) | $ / shares $ 157.50
Initial number of shares (in thousands) | shares 7,302
Convertible Senior Notes Due 2029  
Debt Instrument [Line Items]  
Initial Conversion Rate per $1,000 principal 0.0063492
Initial conversion price (in dollars per share) | $ / shares $ 157.50
Initial number of shares (in thousands) | shares 7,302
v3.25.1
Convertible Senior Notes - Carrying Amounts and Fair Values of Convertible Notes (Details) - Convertible Debt
$ in Thousands
Jan. 31, 2025
USD ($)
Convertible Senior Notes Due 2027  
Debt Instrument [Line Items]  
Principal $ 1,150,000
Unamortized Debt Issuance Costs 13,890
Net Carrying Value 1,136,110
Convertible Senior Notes Due 2027 | Level 2  
Debt Instrument [Line Items]  
Fair Value 1,509,295
Convertible Senior Notes Due 2029  
Debt Instrument [Line Items]  
Principal 1,150,000
Unamortized Debt Issuance Costs 14,581
Net Carrying Value 1,135,419
Convertible Senior Notes Due 2029 | Level 2  
Debt Instrument [Line Items]  
Fair Value $ 1,539,068
v3.25.1
Convertible Senior Notes - Other Key Terms and Premiums Paid for Capped Calls (Details)
$ / shares in Units, shares in Thousands, $ in Thousands
 1 Months Ended
Sep. 30, 2024
USD ($)
$ / shares
shares
Convertible Senior Notes Due 2027 | Convertible Debt  
Option Indexed to Issuer's Equity [Line Items]  
Initial number of shares covered, subject to certain adjustments (in shares) | shares 7,302
Initial conversion price (in dollars per share) $ 157.50
Convertible Senior Notes Due 2029 | Convertible Debt  
Option Indexed to Issuer's Equity [Line Items]  
Initial number of shares covered, subject to certain adjustments (in shares) | shares 7,302
Initial conversion price (in dollars per share) $ 157.50
Call Option | Convertible Senior Notes Due 2027  
Option Indexed to Issuer's Equity [Line Items]  
Initial strike price, subject to certain adjustments (in dollars per share) 157.50
Cap price, subject to certain adjustments (in dollars per share) $ 225.00
Total premium paid | $ $ 94,300
Call Option | Convertible Senior Notes Due 2029  
Option Indexed to Issuer's Equity [Line Items]  
Initial strike price, subject to certain adjustments (in dollars per share) $ 157.50
Cap price, subject to certain adjustments (in dollars per share) $ 225.00
Total premium paid | $ $ 101,200
v3.25.1
Commitment and Contingencies - Schedule of Lease Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Commitments and Contingencies Disclosure [Abstract]      
Operating lease costs $ 59,943 $ 52,892 $ 46,240
Variable lease costs 14,477 11,667 7,906
Sublease income (7,539) (11,943) (12,782)
Total lease costs $ 66,881 $ 52,616 $ 41,364
v3.25.1
Commitment and Contingencies - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Commitments and Contingencies Disclosure [Abstract]      
Cash payments included in the measurement of operating lease liabilities—operating cash flows $ 47,711 $ 40,498 $ 42,342
Operating lease liabilities arising from obtaining right-of-use assets $ 148,181 $ 56,037 $ 72,158
v3.25.1
Commitment and Contingencies - Weighted Average Remaining Lease Term and Discount Rate (Details)
Jan. 31, 2025
Jan. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Weighted-average remaining lease term (years) 7 years 8 months 12 days 7 years 6 months
Weighted-average discount rate 6.20% 6.10%
v3.25.1
Commitment and Contingencies - Schedule of Operating Leases and Subleases (Details)
$ in Thousands
Jan. 31, 2025
USD ($)
Operating Leases  
2026 $ 22,278
2027 70,409
2028 73,003
2029 61,339
2030 69,728
Thereafter 260,669
Total lease payments (receipts) 557,426
Less: imputed interest (143,685)
Present value of operating lease liabilities 413,741
Subleases  
2026 (5,774)
2027 (5,960)
2028 (6,153)
2029 (6,351)
2030 (3,235)
Thereafter 0
Total lease payments (receipts) (27,473)
Total  
2026 16,504
2027 64,449
2028 66,850
2029 54,988
2030 66,493
Thereafter 260,669
Total lease payments (receipts) $ 529,953
v3.25.1
Commitment and Contingencies - Narrative (Details)
 11 Months Ended 12 Months Ended
Jan. 31, 2025
USD ($)
complaint
class_action
Jan. 31, 2025
USD ($)
class_action
Jan. 31, 2024
USD ($)
Jan. 31, 2023
USD ($)
Other Commitments [Line Items]        
Lease signed but not yet commenced, lease commitment $ 47,800,000 $ 47,800,000    
Cost of matching contributions   0 $ 0 $ 0
Loss contingency accrual 0 0 $ 0  
Letters of credit outstanding $ 15,600,000 $ 15,600,000    
US District Court Of California Vs Snowflake, Inc.        
Other Commitments [Line Items]        
Number of new claims filed | complaint 4      
United States District Court For The Central District Of California And The Supreme Court Of British Columbia        
Other Commitments [Line Items]        
Legal proceeding, response period (in days) 35 days 35 days    
Number of pending claims | class_action 2 2    
Minimum        
Other Commitments [Line Items]        
Lease signed but not yet commenced, lease term (in years) 5 years 3 months 18 days 5 years 3 months 18 days    
Loss contingency, range of possible loss $ 0 $ 0    
Maximum        
Other Commitments [Line Items]        
Lease signed but not yet commenced, lease term (in years) 12 years 9 months 18 days 12 years 9 months 18 days    
Loss contingency, range of possible loss $ 25,000,000 $ 25,000,000    
v3.25.1
Commitment and Contingencies - Schedule of Other Contractual Commitments (Details)
$ in Thousands
Jan. 31, 2025
USD ($)
Other Commitment, Fiscal Year Maturity [Abstract]  
2026 $ 569,771
2027 577,133
2028 655,709
2029 964,554
2030 and thereafter 0
Total 2,767,167
Third-Party Cloud Infrastructure Agreements And Subscription Arrangements, Spending Commitments Between June 2023 And May 2028  
Other Commitment, Fiscal Year Maturity [Abstract]  
2029 755,300
Third-Party Cloud Infrastructure Agreements And Subscription Arrangements, Spending Commitments Between June 2023 And May 2028 | Minimum  
Other Commitment, Fiscal Year Maturity [Abstract]  
Total 1,000,000
Third-Party Cloud Infrastructure Agreements And Subscription Arrangements, Spending Commitments Between January 2024 And December 2028  
Other Commitment, Fiscal Year Maturity [Abstract]  
2029 208,300
Third-Party Cloud Infrastructure Agreements And Subscription Arrangements, Spending Commitments Between January 2024 And December 2028 | Minimum  
Other Commitment, Fiscal Year Maturity [Abstract]  
Total $ 250,000
v3.25.1
Equity - Narrative (Details)
$ / shares in Units, $ in Thousands
 1 Months Ended 12 Months Ended
Nov. 25, 2024
USD ($)
shares
Feb. 01, 2024
shares
Dec. 20, 2023
USD ($)
shares
Mar. 31, 2022
USD ($)
founder
shares
Sep. 30, 2024
USD ($)
$ / shares
shares
Aug. 31, 2024
USD ($)
Jan. 31, 2025
USD ($)
class
$ / shares
shares
Jan. 31, 2024
USD ($)
$ / shares
shares
Jan. 31, 2023
USD ($)
founder
$ / shares
shares
Feb. 28, 2023
USD ($)
Jan. 31, 2022
shares
Share-based Compensation Arrangement by Share-based Payment Award                      
Preferred stock, shares authorized (in shares)             200,000,000 200,000,000      
Preferred stock, par value (in dollars per share) | $ / shares             $ 0.0001 $ 0.0001      
Preferred stock, shares outstanding (in shares)             0 0      
Common stock, number of classes of stock | class             2        
Stock repurchase program, authorized amount | $                   $ 2,000,000  
Stock repurchase program, additional authorized amount | $           $ 2,500,000          
Number of shares repurchased (in shares)             14,765,000 4,012,000      
Aggregate purchase price | $             $ 1,932,164 $ 591,673      
Weighted-average price per share (in dollars per share) | $ / shares             $ 130.87 $ 147.49      
Shares authorized for repurchase | $             $ 2,000,000        
Repurchases of common stock as treasury stock (in shares)               (500,000)      
Treasury stock reissued (in shares)             56,000 8,000      
Common stock reserved for future issuances (shares)             127,723,000 121,461,000      
Weighted-average grant date fair value of options granted (in dollars per share) | $ / shares             $ 79.16   $ 101.66    
Options granted (in shares)             1,037,000 0 642,000    
Intrinsic value of shares exercised | $             $ 913,900 $ 1,300,000 $ 1,000,000    
Grant date fair value of vested shares | $             31,200 42,300 79,100    
Stock-based compensation, net of amounts capitalized | $             $ 1,479,314 $ 1,168,015 $ 861,533    
Expected dividend yield             0.00% 0.00% 0.00%    
Unrecognized share-based compensation expense | $             $ 3,500,000        
Unrecognized share-based compensation expense recognition period (in years)             2 years 9 months 18 days        
ESPP Rights                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Common stock reserved for future issuances (shares)             16,446,000 13,764,000      
Shares authorized (in shares)   3,300,000                  
Stock market discount             85.00%        
Offering period (months)             6 months        
Expected dividend yield             0.00% 0.00% 0.00%    
Stock options                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Vesting period (years)             4 years        
Expiration period (years)             10 years        
Award holding period (in years)             1 year        
Discount for lack of marketability, percent             7.60%        
Expected dividend yield             0.00%   0.00%    
Equity-Classified Restricted Stock Units (RSUs)                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Granted (in shares)             17,096,000 12,706,000 10,788,000    
Nonvested (in shares)             23,354,000 19,575,000 15,560,000   9,612,000
2020 Plan                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Shares authorized (in shares)   16,700,000                  
2020 Plan | Stock options                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Common stock reserved for future issuances (shares)             1,586,000 602,000      
2020 Plan | RSUs                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Common stock reserved for future issuances (shares)             24,790,000 20,168,000      
2020 Plan | Equity-Classified Performance Shares                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Vesting period (years)             4 years        
Granted (in shares)             800,000 500,000      
Stock-based compensation, net of amounts capitalized | $             $ 60,200 $ 30,800      
2020 Plan | Equity-Classified Performance Shares | Minimum                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Performance target, percentage             0.00%        
2020 Plan | Equity-Classified Performance Shares | Maximum                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Performance target, percentage             120.00%        
2020 Plan | Equity-Classified Performance Shares | Grant Date                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Vesting period (years)             1 year        
2020 Plan | Equity-Classified Restricted Stock Units (RSUs)                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Vesting period (years)             4 years        
2012 Plan | Stock options                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Common stock reserved for future issuances (shares)             20,067,000 26,767,000      
Expiration period (years)             10 years        
2012 Plan | RSUs                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Common stock reserved for future issuances (shares)             0 789,000      
2012 Plan | Equity-Classified Restricted Stock Units (RSUs)                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Vesting period (years)             4 years        
2012 Plan | Equity-Classified Restricted Stock Units (RSUs) | Grant Date                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Vesting period (years)             1 year        
Outside of the Plans | Restricted Common Stock                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Granted (in shares)             445,000 385,000 409,000    
Nonvested (in shares)             821,000 671,000 428,000   380,000
Samooha, Inc. | Investing Subsidiary                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Business acquisition, equity interest issued or issuable (in shares)     200,000         200,000      
Treasury stock retired (in shares)             200,000        
Samooha, Inc. | 2020 Plan | Liability-Classified Performance Shares                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Vesting period (years)               4 years      
Stock-based compensation, net of amounts capitalized | $             $ 10,600 $ 500      
Shares available for grant (in shares)             1,700,000        
Share based payment arrangement, liabilities | $             $ 11,100 $ 500      
Samooha, Inc. | 2020 Plan | Liability-Classified Performance Shares | Grant Date                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Vesting period (years)               1 year      
Streamlit, Inc.                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Number of founders | founder       3         3    
Class A Common Stock                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Common stock, par value (in dollars per share) | $ / shares             $ 0.0001 $ 0.0001      
Common stock, shares outstanding (in shares) [1]             333,865,000 333,961,000      
Class A Common Stock | Shares Repurchased In Privately Negotiated Transactions Entered Into In Connection With Convertible Senior Notes                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Number of shares repurchased (in shares)         3,600,000            
Aggregate purchase price | $         $ 399,600            
Weighted-average price per share (in dollars per share) | $ / shares         $ 112.50            
Class A Common Stock | ESPP Rights                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Common stock reserved for future issuances (shares)             5,700,000        
Class A Common Stock | 2020 Plan                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Common stock reserved for future issuances (shares)             34,100,000        
Maximum common shares authorized to be outstanding (shares)             78,800,000        
Class A Common Stock | Samooha, Inc. | Outside of the Plans | Restricted Common Stock                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Granted (in shares)     400,000         400,000      
Vesting period (in years)     4 years         4 years      
Fair value | $     $ 74,800         $ 74,800      
Requisite service period (in years)     4 years         4 years      
Nonvested (in shares)             300,000 400,000      
Class A Common Stock | Streamlit, Inc.                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Business acquisition, equity interest issued or issuable (in shares)       1,900,000              
Class A Common Stock | Streamlit, Inc. | Outside of the Plans | Restricted Common Stock                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Granted (in shares)       400,000         400,000    
Vesting period (in years)       3 years         3 years    
Fair value | $       $ 93,700         $ 93,700    
Requisite service period (in years)       3 years         3 years    
Nonvested (in shares)             100,000 300,000      
Class A Common Stock | Datavolo, Inc.                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Business acquisition, equity interest issued or issuable (in shares) 500,000                    
Class A Common Stock | Datavolo, Inc. | Outside of the Plans | Restricted Common Stock                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Granted (in shares) 400,000           400,000        
Vesting period (in years) 4 years           4 years        
Fair value | $ $ 64,600           $ 64,600        
Requisite service period (in years) 4 years           4 years        
Nonvested (in shares)             400,000        
Class B Common Stock                      
Share-based Compensation Arrangement by Share-based Payment Award                      
Common stock, par value (in dollars per share) | $ / shares             $ 0.0001 $ 0.0001      
Common stock, shares outstanding (in shares)             0 0      
[1] In connection with a business combination completed on December 20, 2023, the Company issued approximately 0.2 million shares of its Class A common stock to one of its wholly-owned subsidiaries, in exchange for a noncontrolling equity interest in the acquired company that was held by the subsidiary prior to this business combination. These shares were treated as treasury stock for accounting purposes as of January 31, 2024, and were subsequently transferred to the Company and retired during the fiscal year ended January 31, 2025. These shares are not reflected in the Company’s consolidated balance sheets. See Note 7, “Business Combinations,” and Note 12, “Equity,” for further details.
v3.25.1
Equity - Shares Reserved For Future Issuance (Details) - shares
shares in Thousands
Jan. 31, 2025
Jan. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 127,723 121,461
ESPP Rights    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 16,446 13,764
2012 Plan | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 20,067 26,767
2012 Plan | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 0 789
2020 Plan | Stock options    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 1,586 602
2020 Plan | RSUs    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 24,790 20,168
2020 Plan | Shares available for future grants    
Share-based Compensation Arrangement by Share-based Payment Award    
Common stock reserved for future issuances (shares) 64,834 59,371
v3.25.1
Equity - Schedule of Stock Repurchase Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Share-Based Payment Arrangement [Abstract]    
Number of shares repurchased (in shares) 14,765 4,012
Weighted-average price per share (in dollars per share) $ 130.87 $ 147.49
Aggregate purchase price $ 1,932,164 $ 591,673
v3.25.1
Equity - Option Activity Rollforward (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Number of Options Outstanding (in thousands)        
Shares outstanding, beginning (in shares) 27,369,000 35,854,000 42,043,000  
Granted (shares) 1,037,000 0 642,000  
Exercised (in shares) (6,608,000) (8,357,000) (6,118,000)  
Canceled (in shares) (145,000) (128,000) (713,000)  
Shares outstanding, ending (in shares) 21,653,000 27,369,000 35,854,000 42,043,000
Weighted- Average Exercise Price        
Shares outstanding, beginning balance (in dollars per share) $ 12.35 $ 11.27 $ 7.53  
Granted (in dollars per share) 163.17   207.56  
Exercised (in dollars per share) 6.79 6.84 6.50  
Canceled (in dollars per share) 78.83 70.59 8.02  
Shares outstanding, ending balance (in dollars per share) $ 20.83 $ 12.35 $ 11.27 $ 7.53
Weighted-average remaining contractual life (years) 4 years 2 months 12 days 5 years 5 years 10 months 24 days 6 years 10 months 24 days
Aggregate Intrinsic Value (in thousands)        
Aggregate intrinsic value $ 3,493,648 $ 5,023,664 $ 5,237,549 $ 11,283,299
Vested and expected to vest (in shares) 21,653,000      
Vested and expected to vest, weighted-average exercise price (in dollars per share) $ 20.83      
Vested and expected to vest, weighted-average remaining contractual life (in years) 4 years 2 months 12 days      
Vested and expected to vest, aggregate intrinsic value $ 3,493,648      
Exercisable (in shares) 20,645,000      
Exercisable, weighted-average exercise price (in dollars per share) $ 13.53      
Exercisable, weighted-average remaining contractual life (in years) 4 years 1 month 6 days      
Exercisable, intrinsic value $ 3,478,059      
v3.25.1
Equity - Unvested RSA & RSU Rollforward (Details) - $ / shares
shares in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Equity-Classified Restricted Stock Units (RSUs)      
Number of Shares (in thousands)      
Unvested balance, beginning (in shares) 19,575 15,560 9,612
Granted (in shares) 17,096 12,706 10,788
Vested (in shares) (9,900) (6,810) (3,348)
Forfeited (in shares) (3,367) (1,881) (1,492)
Performance adjustment (in shares) (50)    
Unvested balance, ending (in shares) 23,354 19,575 15,560
Weighted-Average Grant Date Fair Value per Share      
Unvested balance , beginning balance (in dollars per share) $ 169.82 $ 181.17 $ 180.08
Granted (in dollars per share) 142.07 158.28 180.65
Vested (in dollars per share) 168.04 172.38 165.30
Forfeited (in dollars per share) 163.07 176.44 206.02
Performance adjustment (in dollars per share) 139.58    
Unvested balance , ending balance (in dollars per share) $ 151.30 $ 169.82 $ 181.17
2020 Plan | Liability-Classified Performance Shares      
Number of Shares (in thousands)      
Unvested balance, beginning (in shares) 1,382 0  
Granted (in shares) 118 1,382  
Forfeited (in shares) (64)    
Unvested balance, ending (in shares) 1,436 1,382 0
Outside of the Plans | Restricted Common Stock      
Number of Shares (in thousands)      
Unvested balance, beginning (in shares) 671 428 380
Granted (in shares) 445 385 409
Vested (in shares) (219) (142) (361)
Forfeited (in shares) (76)    
Unvested balance, ending (in shares) 821 671 428
Weighted-Average Grant Date Fair Value per Share      
Unvested balance , beginning balance (in dollars per share) $ 209.15 $ 219.26 $ 2.11
Granted (in dollars per share) 162.15 194.28 229.13
Vested (in dollars per share) 213.81 199.28 2.10
Forfeited (in dollars per share) 226.91    
Unvested balance , ending balance (in dollars per share) $ 180.82 $ 209.15 $ 219.26
v3.25.1
Equity - Valuation Assumptions (Details)
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 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%
Stock options      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology      
Expected term (in years)     6 years
Expected volatility, minimum 56.60%    
Expected volatility, maximum 56.70%    
Expected volatility     50.00%
Risk-free interest rate, minimum 4.20%    
Risk-free interest rate, maximum 4.40%    
Risk-free interest rate     1.80%
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    
Stock options | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology      
Expected term (in years) 6 years    
ESPP Rights      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology      
Expected term (in years) 6 months 6 months 6 months
Expected volatility, minimum 46.30% 48.40% 58.90%
Expected volatility, maximum 49.60% 71.30% 74.80%
Risk-free interest rate, minimum 4.50% 4.70% 0.90%
Risk-free interest rate, maximum 5.40% 5.50% 3.80%
Expected dividend yield 0.00% 0.00% 0.00%
Liability-Classified Performance Shares | 2020 Plan      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology      
Expected volatility 50.00% 60.00%  
Risk-free interest rate 4.20% 4.00%  
v3.25.1
Equity - Share-based Compensation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized $ 1,479,314 $ 1,168,015 $ 861,533
Capitalized stock-based compensation 38,493 48,830 29,417
Total stock-based compensation 1,517,807 1,216,845 890,950
Cost of revenue      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized 142,163 123,363 106,302
Sales and marketing      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized 331,807 299,657 246,811
Research and development      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized 852,027 644,928 407,524
General and administrative      
Share-based Payment Arrangement, Expensed and Capitalized, Amount      
Stock-based compensation, net of amounts capitalized $ 153,317 $ 100,067 $ 100,896
v3.25.1
Income Taxes - Schedule of Components of Loss Before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Income Tax Disclosure [Abstract]      
U.S. $ (1,341,798) $ (875,703) $ (851,538)
Foreign 56,699 26,480 35,545
Loss before income taxes $ (1,285,099) $ (849,223) $ (815,993)
v3.25.1
Income Taxes - Schedule of Provision for (Benefit from) Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Current provision:      
State $ 806 $ 754 $ 626
Foreign 10,978 14,775 7,571
Deferred benefit:      
Federal (6,294) (15,376) (21,647)
State (1,011) (4,700) (4,410)
Foreign (366) (6,686) (607)
Provision for (benefit from) income taxes $ 4,113 $ (11,233) $ (18,467)
v3.25.1
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Income Tax Disclosure [Abstract]      
Income tax benefit computed at federal statutory rate $ (269,871) $ (178,337) $ (171,359)
State taxes, net of federal benefit 33,910 26,380 14,948
Research and development credits (133,266) (101,725) (58,136)
Stock-based compensation (7,667) (148,600) (71,295)
Change in valuation allowance 363,422 371,767 213,532
IRC Section 59A waived deductions 0 11,550 49,476
Other 17,585 7,732 4,367
Provision for (benefit from) income taxes $ 4,113 $ (11,233) $ (18,467)
v3.25.1
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Thousands
Jan. 31, 2025
Jan. 31, 2024
Deferred tax assets:    
Net operating losses carryforwards $ 1,707,649 $ 1,673,213
Capitalized research and development 725,823 420,491
Tax credit carryforwards 511,504 376,804
Operating lease liabilities 104,517 54,008
Deferred revenue 95,779 82,683
Capped call transactions 45,032 0
Stock-based compensation 36,044 109,446
Net unrealized losses on strategic investments 6,143 2,443
Other 50,790 31,776
Total deferred tax assets 3,283,281 2,750,864
Less: valuation allowance (3,104,505) (2,621,009)
Net deferred tax assets 178,776 129,855
Deferred tax liabilities:    
Intangible assets (27,481) (39,173)
Deferred commissions (56,662) (41,609)
Operating lease right-of-use assets (94,997) (48,629)
Other (234) (1,326)
Total deferred tax liabilities (179,374) (130,737)
Net deferred tax liabilities $ (598) $ (882)
v3.25.1
Income Taxes - Narrative (Details) - USD ($)
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Tax Credit Carryforward [Line Items]      
Valuation allowance $ 3,104,505,000 $ 2,621,009,000  
Increase in valuation allowance 483,500,000 520,400,000 $ 241,900,000
Net operating loss carryforwards, U.S. federal 6,200,000,000    
Net operating loss carryforwards, state 6,000,000,000    
Net operating loss carryforwards, foreign 178,000,000    
Interest and penalties 0 $ 0 $ 0
Federal      
Tax Credit Carryforward [Line Items]      
Net operating loss carryforwards, not subject to expiration 6,100,000,000    
Net operating loss carryforward, subject to expiration 100,000,000    
Deferred tax assets, tax credit carryforward, subject to expiration 482,900,000    
Foreign      
Tax Credit Carryforward [Line Items]      
Net operating loss carryforwards, not subject to expiration 165,200,000    
Net operating loss carryforward, subject to expiration 12,800,000    
State      
Tax Credit Carryforward [Line Items]      
Deferred tax assets, tax credit carryforward, not subject to expiration $ 212,200,000    
v3.25.1
Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Unrecognized Tax Benefits [Roll Forward]      
Beginning balance $ 115,253 $ 75,180 $ 57,715
Increases based on tax positions during the prior period 655 12,708 1,816
Increases based on tax positions during the current period 35,752 27,365 15,649
Ending balance $ 151,660 $ 115,253 $ 75,180
v3.25.1
Net Loss per Share - Schedule of Basic and Diluted Net Loss per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Numerator:      
Net loss $ (1,289,212) $ (837,990) $ (797,526)
Less: comprehensive loss attributable to noncontrolling interest (3,572) (1,893) (821)
Net loss attributable to Snowflake Inc. $ (1,285,640) $ (836,097) $ (796,705)
Denominator:      
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic (in shares) 332,707 328,001 318,730
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—diluted (in shares) 332,707 328,001 318,730
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic (in dollars per share) $ (3.86) $ (2.55) $ (2.50)
Net loss per share attributable to Snowflake Inc. Class A common stockholders—diluted (in dollars per share) $ (3.86) $ (2.55) $ (2.50)
v3.25.1
Net Loss per Share - Narrative (Details) - shares
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Class of Stock [Line Items]      
Weighted average number of shares outstanding, basic (in shares) 332,707,000 328,001,000 318,730,000
Weighted average number of shares outstanding, diluted (in shares) 332,707,000 328,001,000 318,730,000
Class B Common Stock      
Class of Stock [Line Items]      
Weighted average number of shares outstanding, basic (in shares) 0 0 0
Weighted average number of shares outstanding, diluted (in shares) 0 0 0
v3.25.1
Net Loss per Share - Schedule of Potentially Dilutive Securities Excluded from Computation of Net Loss per Share (Details) - shares
shares in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 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) 62,436 49,281 52,125
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) 24,790 20,957 15,560
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) 21,653 27,369 35,854
Shares underlying the conversion option in the Notes      
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) 14,603 0 0
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) 821 671 446
ESPP Rights      
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) 569 284 265
v3.25.1
Related Party Transactions (Details) - Related Party - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Mar. 31, 2024
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Nov. 30, 2024
Related Party Transaction [Line Items]          
Contract term (in years)     2 years   13 months
Contract asset     $ 22.5   $ 1.5
Revenue   $ 12.9 6.8 $ 3.7  
Receivables   $ 1.8 $ 5.0    
Strategic investment, non-marketable equity securities $ 5.0        
v3.25.1
Subsequent Event (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 2 Months Ended 12 Months Ended
Mar. 21, 2025
Jan. 31, 2025
Jan. 31, 2024
Subsequent Event [Line Items]      
Number of shares repurchased (in shares)   14,765 4,012
Aggregate purchase price   $ 1,932,164 $ 591,673
Weighted-average price per share (in dollars per share)   $ 130.87 $ 147.49
Subsequent Event      
Subsequent Event [Line Items]      
Number of shares repurchased (in shares) 3,200    
Aggregate purchase price $ 490,600    
Weighted-average price per share (in dollars per share) $ 152.63