Snowflake Inc.
For the period ended Jan 31, 2026. Filed Mar 20, 2026.
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FY2026 · Filed Mar 20, 2026
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, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| Cash flows from operating activities: | |||
| Net loss | $(1,329,035) | $(1,289,212) | $(837,990) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 220,443 | 182,508 | 119,903 |
| Non-cash operating lease costs | 66,463 | 59,943 | 52,892 |
| Amortization of deferred commissions | 140,415 | 93,128 | 74,787 |
| Stock-based compensation, net of amounts capitalized | 1,599,547 | 1,479,314 | 1,168,015 |
| Net accretion of discounts on investments | (21,813) | (43,434) | (61,525) |
| Net realized and unrealized losses (gains) on strategic investments in equity securities | 59,895 | 31,420 | (46,809) |
| Amortization of debt issuance costs | 8,298 | 2,759 | — |
| Asset impairment related to office facility exit | 108,715 | — | — |
| Deferred income tax | (2,337) | (7,671) | (26,762) |
| Non-cash restructuring charges (recoveries), net | (11,159) | 1,391 | — |
| Other | (1,250) | 6,029 | 14,895 |
| Changes in operating assets and liabilities, net of effects of business combinations: | |||
| Accounts receivable | (379,969) | 536 | (212,083) |
| Deferred commissions | (305,063) | (101,569) | (134,787) |
| Prepaid expenses and other assets | (44,516) | 29,850 | 59,795 |
| Accounts payable | (8,299) | 108,852 | 19,212 |
| Accrued expenses and other liabilities | 393,337 | 70,876 | 171,048 |
| Operating lease liabilities | (26,949) | (47,711) | (40,498) |
| Deferred revenue | 755,219 | 382,755 | 528,029 |
| Net cash provided by operating activities | 1,221,942 | 959,764 | 848,122 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (101,628) | (46,279) | (35,086) |
| Capitalized software development costs | — | (29,433) | (34,133) |
| Cash paid for business combinations, net of cash, cash equivalents, and restricted cash acquired | (178,850) | (30,305) | (275,706) |
| Purchases of intangible assets | (3,101) | — | (28,744) |
| Purchases of investments | (2,040,420) | (2,569,243) | (2,476,206) |
| Sales of investments | 21,203 | 64,573 | 11,266 |
| Maturities and redemptions of investments | 2,615,037 | 2,802,082 | 3,670,867 |
| Settlement of cash flow hedges | — | (749) | — |
| Net cash provided by investing activities | 312,241 | 190,646 | 832,258 |
| Cash flows from financing activities: | |||
| Proceeds from exercise of stock options | 84,130 | 44,886 | 57,194 |
| Proceeds from issuance of common stock under employee stock purchase plan | 88,123 | 77,053 | 61,234 |
| Taxes paid related to net share settlement of equity awards | (672,867) | (489,149) | (380,799) |
| Repurchases of common stock | (873,537) | (1,932,333) | (591,732) |
| Distributions to noncontrolling interest holders | (9,295) | — | — |
| Fiscal Year Ended January 31, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| Payments of deferred purchase consideration for business combinations | (1,944) | (250) | — |
| 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) | — |
| Net cash used in financing activities | (1,385,390) | (226,523) | (854,103) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 16,832 | (6,186) | (2,031) |
| Net increase in cash, cash equivalents, and restricted cash | 165,625 | 917,701 | 824,246 |
| Cash, cash equivalents, and restricted cash—beginning of period | 2,698,678 | 1,780,977 | 956,731 |
| Cash, cash equivalents, and restricted cash—end of period | $2,864,303 | $2,698,678 | $1,780,977 |
| Supplemental disclosures of non-cash investing and financing activities | |||
| Property and equipment included in accounts payable and accrued expenses | $17,206 | $36,061 | $17,463 |
| Stock-based compensation included in capitalized software development costs | $— | $38,493 | $48,181 |
| Issuance of common stock in connection with business combinations | $13,074 | $87,706 | $174,284 |
| Reconciliation of cash, cash equivalents, and restricted cash: | |||
| Cash and cash equivalents | $2,828,163 | $2,628,798 | $1,762,749 |
| Restricted cash—included in other assets and prepaid expenses and other current assets | 36,140 | 69,880 | 18,228 |
| Total cash, cash equivalents, and restricted cash | $2,864,303 | $2,698,678 | $1,780,977 |
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