Snowflake Inc. Files Q1 FY2025 10-Q Report

TL;DR

**Snowflake Q1 FY25 10-Q filed. Check financials.**

AI Summary

Snowflake Inc. filed its 10-Q for the period ending April 30, 2024. The company reported its financial results for the first quarter of fiscal year 2025. Key financial data and operational details are presented in this filing, which is a standard quarterly report for public companies.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for Snowflake Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — Quarterly reports like this 10-Q are standard for public companies and carry inherent risks related to financial performance and market conditions.

Key Players & Entities

• Snowflake Inc. (company) — Filer of the 10-Q report
• 20240430 (date) — End of the reporting period
• 20240531 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — which registered Class A Common Stock, $0.0001 par value SNOW The New York Stock Excha

Filing Documents

• snow-20240430.htm (10-Q) — 1835KB
• ex-311snowflakefy2025q1.htm (EX-31.1) — 12KB
• ex-312snowflakefy2025q1.htm (EX-31.2) — 12KB
• ex-321snowflakefy2025q1.htm (EX-32.1) — 6KB
• ex-322snowflakefy2025q1.htm (EX-32.2) — 6KB
• snow-20240430_g1.jpg (GRAPHIC) — 16KB
• 0001640147-24-000135.txt ( ) — 9454KB
• snow-20240430.xsd (EX-101.SCH) — 59KB
• snow-20240430_cal.xml (EX-101.CAL) — 120KB
• snow-20240430_def.xml (EX-101.DEF) — 281KB
• snow-20240430_lab.xml (EX-101.LAB) — 754KB
• snow-20240430_pre.xml (EX-101.PRE) — 529KB
• snow-20240430_htm.xml (XML) — 1500KB

Financial Information

PART I. Financial Information 7

Financial Statements (Unaudited)

ITEM 1. Financial Statements (Unaudited) 7 Condensed Consolidated Balance Sheets 7 Condensed Consolidated Statements of Operations 8 Condensed Consolidated Statements of Comprehensive Loss 9 Condensed Consolidated Statements of Stockholders' Equity 10 Condensed Consolidated Statements of Cash Flows 11 Notes to Condensed Consolidated Financial Statements 13

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 33

Quantitative and Qualitative Disclosures about Market Risk

ITEM 3. Quantitative and Qualitative Disclosures about Market Risk 52

Controls and Procedures

ITEM 4. Controls and Procedures 54

Other Information

PART II. Other Information 55

Legal Proceedings

ITEM 1. Legal Proceedings 55

Risk Factors

ITEM 1A. Risk Factors 55

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 84

Defaults Upon Senior Securities

ITEM 3. Defaults Upon Senior Securities 84

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 84

Other Information

ITEM 5. Other Information 85

Exhibits

ITEM 6. Exhibits 86

Signatures

Signatures 87 3 Table of Contents SPECIAL NOTE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act), about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical fact contained in this report, including statements regarding our future results of operations and financial condition, business strategy, capital requirements, market trends, and plans and objectives of management for future operations, are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "anticipate," "believe," "continue," "can," "could," "design," "estimate," "target," "expect," "intend," "may," "plan," "potentially," "predict," "project," "should," "will," "would," or the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements concerning the following: our expectations regarding our revenue, expenses, and other operating results, including statements relating to the portion of our remaining performance obligations that we expect to recognize as revenue in future periods; our ability to acquire new customers and successfully retain existing customers; our ability to maintain and increase consumption on our platform; our ability to continue to innovate and make new features generally available to customers, including our development and use of artificial intelligence and machine learning; our ability to achieve or sustain our profitability; future investments in our business, our anticipated capital expenditures, and our estimates regarding our capital requirements; the costs and success of our sales and marketing efforts, and our ability to promote our brand; our growth

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) SNOWFLAKE INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) (unaudited) April 30, 2024 January 31, 2024 Assets Current assets: Cash and cash equivalents $ 1,330,411 $ 1,762,749 Short-term investments 2,200,935 2,083,499 Accounts receivable, net 345,505 926,902 Deferred commissions, current 85,448 86,096 Prepaid expenses and other current assets 180,991 180,018 Total current assets 4,143,290 5,039,264 Long-term investments 927,981 916,307 Property and equipment, net 263,667 247,464 Operating lease right-of-use assets 244,681 252,128 Goodwill 975,906 975,906 Intangible assets, net 307,967 331,411 Deferred commissions, non-current 179,917 187,093 Other assets 254,609 273,810 Total assets $ 7,298,018 $ 8,223,383 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 64,239 $ 51,721 Accrued expenses and other current liabilities 398,002 446,860 Operating lease liabilities, current 30,940 33,944 Deferred revenue, current 1,935,642 2,198,705 Total current liabilities 2,428,823 2,731,230 Operating lease liabilities, non-current 247,501 254,037 Deferred revenue, non-current 14,692 14,402 Other liabilities 39,310 33,120 Total liabilities 2,730,326 3,032,789 Commitments and contingencies (Note 10) Stockholders' equity: Preferred stock; $ 0.0001 par value per share; 200,000 shares authorized, zero shares issued and outstanding as of each April 30, 2024 and January 31, 2024 — — Common stock; $ 0.0001 par value per share; 2,500,000 Class A shares authorized, 335,264 and 334,453 shares issued and outstanding as of April 30, 2024 and January 31, 2024, respectively (excluding 200 shares held by a wholly-owned subsidiary and treated as treasury stock for accounting purposes as of each April 30, 2024 and January 31, 2024); 185,461 Class B shares authorized, zero shares issued and outstanding as of each April 30, 2024 and January 31, 2024 34 34 Treasu

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