Snowflake Inc.
For the period ended Jan 31, 2025. Filed Mar 21, 2025.
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FY2025 · Filed Mar 21, 2025
SNOW$295.76+1.6%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| Fiscal Year Ended January 31, | |||
|---|---|---|---|
| 2025 | 2024 | 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 | — | — |
| 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 | — | (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) | — | — |
| 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) | — |
| Fiscal Year Ended January 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Payments of deferred purchase consideration for business combinations | (250) | — | (1,800) |
| Gross proceeds from issuance of convertible senior notes | 2,300,000 | — | — |
| Cash paid for issuance costs on convertible senior notes | (31,230) | — | — |
| Purchases of capped calls related to convertible senior notes | (195,500) | — | — |
| Capital contributions from noncontrolling interest holders | — | — | 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 |
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