(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of Principal Executive Offices)1 | (Zip Code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Exhibit No. | Description | |||||||
Snowflake Inc. | ||||||||||||||
Dated: August 25, 2021 | ||||||||||||||
By: | /s/ Michael P. Scarpelli | |||||||||||||
Michael P. Scarpelli | ||||||||||||||
Chief Financial Officer |
Second Quarter Fiscal 2022 GAAP Results | Second Quarter Fiscal 2022 Non-GAAP Results(1) | ||||||||||||||||
Amount (millions) | Year/Year Growth | ||||||||||||||||
Product revenue | $254.6 | 103 | % | ||||||||||||||
Amount (millions) | Margin | Amount (millions) | Margin | ||||||||||||||
Product gross profit | $173.6 | 68 | % | $187.4 | 74 | % | |||||||||||
Operating loss | ($200.1) | (74 | %) | ($21.9) | (8 | %) | |||||||||||
Net cash used in operating activities | ($6.1) | ||||||||||||||||
Free cash flow | ($12.0) | (4 | %) | ||||||||||||||
Adjusted free cash flow | $2.8 | 1 | % | ||||||||||||||
(1) We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. See the section titled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures, and the table titled “GAAP to Non-GAAP Reconciliations” for a reconciliation of GAAP to non-GAAP financial measures. Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes. | |||||||||||||||||
Third Quarter Fiscal 2022 GAAP Guidance | Third Quarter Fiscal 2022 Non-GAAP Guidance(1) | ||||||||||||||||
Amount (millions) | Year/Year Growth | ||||||||||||||||
Product revenue | $280 - $285 | 89 - 92% | |||||||||||||||
Margin | |||||||||||||||||
Operating loss | (7 | %) | |||||||||||||||
Amount (millions) | |||||||||||||||||
Weighted-average shares used in computing diluted net loss per share attributable to common stockholders - basic and diluted | 303 | ||||||||||||||||
(1) We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. See the section titled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures. |
Full-Year Fiscal 2022 GAAP Guidance | Full-Year Fiscal 2022 Non-GAAP Guidance(1) | ||||||||||||||||
Amount (millions) | Year/Year Growth | ||||||||||||||||
Product revenue | $1,060 - $1,070 | 91 - 93% | |||||||||||||||
Margin | |||||||||||||||||
Product gross profit | 73 | % | |||||||||||||||
Operating loss | (9 | %) | |||||||||||||||
Adjusted free cash flow | 7 | % | |||||||||||||||
Amount (millions) | |||||||||||||||||
Weighted-average shares used in computing diluted net loss per share attributable to common stockholders - basic and diluted | 300 | ||||||||||||||||
(1) We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. See the section titled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures. |
Three Months Ended July 31, | Six Months Ended July 31, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Revenue | $ | 272,198 | $ | 133,145 | $ | 501,112 | $ | 241,960 | |||||||||||||||
Cost of revenue | 106,121 | 50,446 | 203,467 | 93,003 | |||||||||||||||||||
Gross profit | 166,077 | 82,699 | 297,645 | 148,957 | |||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||
Sales and marketing | 182,903 | 92,663 | 349,707 | 190,540 | |||||||||||||||||||
Research and development | 118,087 | 36,533 | 227,883 | 69,811 | |||||||||||||||||||
General and administrative | 65,228 | 31,186 | 125,791 | 62,692 | |||||||||||||||||||
Total operating expenses | 366,218 | 160,382 | 703,381 | 323,043 | |||||||||||||||||||
Operating loss | (200,141) | (77,683) | (405,736) | (174,086) | |||||||||||||||||||
Interest income | 2,190 | 1,689 | 4,802 | 4,137 | |||||||||||||||||||
Other income (expense), net | 8,746 | (1,109) | 8,258 | (1,042) | |||||||||||||||||||
Loss before income taxes | (189,205) | (77,103) | (392,676) | (170,991) | |||||||||||||||||||
Provision for income taxes | 514 | 531 | 263 | 287 | |||||||||||||||||||
Net loss | $ | (189,719) | $ | (77,634) | $ | (392,939) | $ | (171,278) | |||||||||||||||
Net loss per share attributable to common stockholders - basic and diluted | $ | (0.64) | $ | (1.31) | $ | (1.33) | $ | (3.01) | |||||||||||||||
Weighted-average shares used in computing net loss per share attributable to common stockholders - basic and diluted | 297,717,099 | 59,260,645 | 294,603,943 | 56,809,625 | |||||||||||||||||||
July 31, 2021 | January 31, 2021 | ||||||||||
Assets | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | 698,548 | $ | 820,177 | |||||||
Short-term investments | 3,436,941 | 3,087,887 | |||||||||
Accounts receivable, net | 237,457 | 294,017 | |||||||||
Deferred commissions, current | 39,265 | 32,371 | |||||||||
Prepaid expenses and other current assets | 95,891 | 66,200 | |||||||||
Total current assets | 4,508,102 | 4,300,652 | |||||||||
Long-term investments | 956,011 | 1,165,275 | |||||||||
Property and equipment, net | 83,643 | 68,968 | |||||||||
Operating lease right-of-use assets | 174,974 | 186,818 | |||||||||
Goodwill | 8,449 | 8,449 | |||||||||
Intangible assets, net | 28,089 | 16,091 | |||||||||
Deferred commissions, non-current | 96,174 | 86,164 | |||||||||
Other assets | 176,974 | 89,322 | |||||||||
Total assets | $ | 6,032,416 | $ | 5,921,739 | |||||||
Liabilities and Stockholders’ Equity | |||||||||||
Current liabilities: | |||||||||||
Accounts payable | $ | 9,475 | $ | 5,647 | |||||||
Accrued expenses and other current liabilities | 143,864 | 125,315 | |||||||||
Operating lease liabilities, current | 20,641 | 19,650 | |||||||||
Deferred revenue, current | 701,758 | 638,652 | |||||||||
Total current liabilities | 875,738 | 789,264 | |||||||||
Operating lease liabilities, non-current | 174,256 | 184,887 | |||||||||
Deferred revenue, non-current | 7,100 | 4,194 | |||||||||
Other liabilities | 10,357 | 6,923 | |||||||||
Stockholders’ equity | 4,964,965 | 4,936,471 | |||||||||
Total liabilities and stockholders’ equity | $ | 6,032,416 | $ | 5,921,739 |
Three Months Ended July 31, | Six Months Ended July 31, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||||||
Net loss | $ | (189,719) | $ | (77,634) | $ | (392,939) | $ | (171,278) | |||||||||||||||
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||||||||||||||||||||||
Depreciation and amortization | 5,384 | 2,240 | 10,068 | 3,762 | |||||||||||||||||||
Non-cash operating lease costs | 8,531 | 8,212 | 17,040 | 16,337 | |||||||||||||||||||
Amortization of deferred commissions | 8,841 | 6,840 | 17,157 | 14,066 | |||||||||||||||||||
Stock-based compensation, net of amounts capitalized | 163,991 | 18,204 | 315,005 | 38,649 | |||||||||||||||||||
Net amortization of premiums on investments | 12,332 | 279 | 25,351 | 226 | |||||||||||||||||||
Unrealized gains on strategic investments in privately-held equity securities | (8,060) | — | (8,060) | — | |||||||||||||||||||
Other | 1,568 | 4,224 | 2,782 | 4,049 | |||||||||||||||||||
Changes in operating assets and liabilities, net of effect of business combinations: | |||||||||||||||||||||||
Accounts receivable | (71,283) | (55,572) | 55,896 | 27,129 | |||||||||||||||||||
Deferred commissions | (19,182) | (8,722) | (33,931) | (14,266) | |||||||||||||||||||
Prepaid expenses and other assets | (15,731) | 7,494 | (70,088) | (1,452) | |||||||||||||||||||
Accounts payable | 4,967 | 14 | 3,722 | (2,843) | |||||||||||||||||||
Accrued expenses and other liabilities | 30,287 | 16,148 | 23,720 | 10,993 | |||||||||||||||||||
Operating lease liabilities | (8,159) | (9,817) | (15,992) | (17,404) | |||||||||||||||||||
Deferred revenue | 70,122 | 49,405 | 66,012 | 46,755 | |||||||||||||||||||
Net cash provided by (used in) operating activities | (6,111) | (38,685) | 15,743 | (45,277) | |||||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||
Purchases of property and equipment | (3,497) | (4,715) | (9,927) | (6,748) | |||||||||||||||||||
Capitalized internal-use software development costs | (2,344) | (981) | (4,824) | (3,170) | |||||||||||||||||||
Cash paid for business combinations, net of cash acquired | — | (6,035) | — | (6,035) | |||||||||||||||||||
Purchases of intangible assets | (722) | (184) | (11,182) | (6,184) | |||||||||||||||||||
Purchases of investments | (842,963) | (358,811) | (1,988,633) | (612,635) | |||||||||||||||||||
Sales of investments | 7,929 | 3,510 | 392,312 | 3,510 | |||||||||||||||||||
Maturities and redemptions of investments | 877,635 | 97,817 | 1,394,223 | 189,859 | |||||||||||||||||||
Net cash provided by (used in) investing activities | 36,038 | (269,399) | (228,031) | (441,403) | |||||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | — | — | — | 478,573 | |||||||||||||||||||
Proceeds from early exercised stock options | — | — | — | 159 | |||||||||||||||||||
Proceeds from exercise of stock options | 24,463 | 9,864 | 65,865 | 20,736 | |||||||||||||||||||
Proceeds from issuance of common stock under the employee stock purchase plan | — | — | 26,398 | — | |||||||||||||||||||
Proceeds from repayments of a nonrecourse promissory note | — | 2,090 | — | 2,090 | |||||||||||||||||||
Repurchases of early exercised stock options | — | — | — | (30) | |||||||||||||||||||
Payments of deferred offering costs | — | (2,231) | — | (2,336) | |||||||||||||||||||
Payment of deferred purchase consideration for a business combination | — | (600) | — | (600) | |||||||||||||||||||
Net cash provided by financing activities | 24,463 | 9,123 | 92,263 | 498,592 | |||||||||||||||||||
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 196 | — | 215 | — | |||||||||||||||||||
Net increase (decrease) in cash, cash equivalents, and restricted cash | 54,586 | (298,961) | (119,810) | 11,912 | |||||||||||||||||||
Cash, cash equivalents, and restricted cash at beginning of period | 660,797 | 452,849 | 835,193 | 141,976 | |||||||||||||||||||
Cash, cash equivalents, and restricted cash at end of period | $ | 715,383 | $ | 153,888 | $ | 715,383 | $ | 153,888 |
Three Months Ended July 31, 2021 | |||||||||||||||||||||||||||||||||||||||||
GAAP amounts | GAAP amounts as a % of revenue | Stock-based compensation expense-related charges(1) | Amortization of acquired intangibles | Expenses associated with acquisitions and strategic investments | Non-GAAP amounts | Non-GAAP amounts as a % of revenue | |||||||||||||||||||||||||||||||||||
Revenue: | |||||||||||||||||||||||||||||||||||||||||
Product revenue | $ | 254,623 | 94 | % | |||||||||||||||||||||||||||||||||||||
Professional services and other revenue | 17,575 | 6 | % | ||||||||||||||||||||||||||||||||||||||
Revenue | 272,198 | 100 | % | ||||||||||||||||||||||||||||||||||||||
Year over Year % Growth | 104 | % | |||||||||||||||||||||||||||||||||||||||
Cost of revenue: | |||||||||||||||||||||||||||||||||||||||||
Cost of product revenue | 81,048 | 30 | % | $ | (13,226) | $ | (566) | $ | — | $ | 67,256 | 25 | % | ||||||||||||||||||||||||||||
Cost of professional services and other revenue | 25,073 | 9 | % | (9,877) | — | — | 15,196 | 5 | % | ||||||||||||||||||||||||||||||||
Total cost of revenue | 106,121 | 39 | % | (23,103) | (566) | — | 82,452 | 30 | % | ||||||||||||||||||||||||||||||||
Gross profit (loss): | |||||||||||||||||||||||||||||||||||||||||
Product gross profit | 173,575 | 13,226 | 566 | — | 187,367 | ||||||||||||||||||||||||||||||||||||
Professional services and other gross profit (loss) | (7,498) | 9,877 | — | — | 2,379 | ||||||||||||||||||||||||||||||||||||
Total gross profit | 166,077 | 61 | % | 23,103 | 566 | — | 189,746 | 70 | % | ||||||||||||||||||||||||||||||||
Product gross margin | 68 | % | 6 | % | — | % | — | % | 74 | % | |||||||||||||||||||||||||||||||
Professional services and other gross margin | (43 | %) | 57 | % | — | % | — | % | 14 | % | |||||||||||||||||||||||||||||||
Total gross margin | 61 | % | 9 | % | — | % | — | % | 70 | % | |||||||||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||||||||
Sales and marketing | 182,903 | 68 | % | (57,626) | — | — | 125,277 | 46 | % | ||||||||||||||||||||||||||||||||
Research and development | 118,087 | 43 | % | (65,841) | (942) | — | 51,304 | 19 | % | ||||||||||||||||||||||||||||||||
General and administrative | 65,228 | 24 | % | (29,839) | (401) | 75 | 35,063 | 13 | % | ||||||||||||||||||||||||||||||||
Total operating expenses | 366,218 | 135 | % | (153,306) | (1,343) | 75 | 211,644 | 78 | % | ||||||||||||||||||||||||||||||||
Operating loss | $ | (200,141) | (74 | %) | $ | 176,409 | $ | 1,909 | $ | (75) | $ | (21,898) | (8 | %) | |||||||||||||||||||||||||||
Operating margin | (74 | %) | 65 | % | 1 | % | — | % | (8 | %) | |||||||||||||||||||||||||||||||
(1) Stock-based compensation expense-related charges included approximately $12.1 million of employer payroll tax-related expenses on employee stock transactions. | |||||||||||||||||||||||||||||||||||||||||
Three Months Ended July 31, 2020 | |||||||||||||||||||||||||||||||||||||||||
GAAP amounts | GAAP amounts as a % of revenue | Stock-based compensation expense-related charges(1) | Amortization of acquired intangibles | Expenses associated with acquisitions and strategic investments | Non-GAAP amounts | Non-GAAP amounts as a % of revenue | |||||||||||||||||||||||||||||||||||
Revenue: | |||||||||||||||||||||||||||||||||||||||||
Product revenue | $ | 125,216 | 94 | % | |||||||||||||||||||||||||||||||||||||
Professional services and other revenue | 7,929 | 6 | % | ||||||||||||||||||||||||||||||||||||||
Revenue | 133,145 | 100 | % | ||||||||||||||||||||||||||||||||||||||
Year over Year % Growth | 121 | % | |||||||||||||||||||||||||||||||||||||||
Cost of revenue: | |||||||||||||||||||||||||||||||||||||||||
Cost of product revenue | 42,716 | 32 | % | $ | (613) | $ | (281) | $ | — | $ | 41,822 | 31 | % | ||||||||||||||||||||||||||||
Cost of professional services and other revenue | 7,730 | 6 | % | (580) | — | — | 7,150 | 6 | % | ||||||||||||||||||||||||||||||||
Total cost of revenue | 50,446 | 38 | % | (1,193) | (281) | — | 48,972 | 37 | % | ||||||||||||||||||||||||||||||||
Gross profit: | |||||||||||||||||||||||||||||||||||||||||
Product gross profit | 82,500 | 613 | 281 | — | 83,394 | ||||||||||||||||||||||||||||||||||||
Professional services and other gross profit | 199 | 580 | — | — | 779 | ||||||||||||||||||||||||||||||||||||
Total gross profit | 82,699 | 62 | % | 1,193 | 281 | — | 84,173 | 63 | % | ||||||||||||||||||||||||||||||||
Product gross margin | 66 | % | 1 | % | — | % | — | % | 67 | % | |||||||||||||||||||||||||||||||
Professional services and other gross margin | 3 | % | 7 | % | — | % | — | % | 10 | % | |||||||||||||||||||||||||||||||
Total gross margin | 62 | % | 1 | % | — | % | — | % | 63 | % | |||||||||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||||||||
Sales and marketing | 92,663 | 70 | % | (5,371) | (1) | — | 87,291 | 65 | % | ||||||||||||||||||||||||||||||||
Research and development | 36,533 | 27 | % | (5,166) | — | — | 31,367 | 24 | % | ||||||||||||||||||||||||||||||||
General and administrative | 31,186 | 23 | % | (6,840) | (305) | (252) | 23,789 | 18 | % | ||||||||||||||||||||||||||||||||
Total operating expenses | 160,382 | 120 | % | (17,377) | (306) | (252) | 142,447 | 107 | % | ||||||||||||||||||||||||||||||||
Operating loss | $ | (77,683) | (58 | %) | $ | 18,570 | $ | 587 | $ | 252 | $ | (58,274) | (44 | %) | |||||||||||||||||||||||||||
Operating margin | (58 | %) | 14 | % | — | % | — | % | (44 | %) | |||||||||||||||||||||||||||||||
(1) Stock-based compensation expense-related charges included approximately $0.4 million of employer payroll tax-related expenses on employee stock transactions. |
Six Months Ended July 31, 2021 | |||||||||||||||||||||||||||||||||||||||||
GAAP amounts | GAAP amounts as a % of revenue | Stock-based compensation expense-related charges(1) | Amortization of acquired intangibles | Expenses associated with acquisitions and strategic investments | Non-GAAP amounts | Non-GAAP amounts as a % of revenue | |||||||||||||||||||||||||||||||||||
Revenue: | |||||||||||||||||||||||||||||||||||||||||
Product revenue | $ | 468,453 | 93 | % | |||||||||||||||||||||||||||||||||||||
Professional services and other revenue | 32,659 | 7 | % | ||||||||||||||||||||||||||||||||||||||
Revenue | 501,112 | 100 | % | ||||||||||||||||||||||||||||||||||||||
Year over Year % Growth | 107 | % | |||||||||||||||||||||||||||||||||||||||
Cost of revenue: | |||||||||||||||||||||||||||||||||||||||||
Cost of product revenue | 153,128 | 31 | % | $ | (25,394) | $ | (1,133) | $ | — | $ | 126,601 | 25 | % | ||||||||||||||||||||||||||||
Cost of professional services and other revenue | 50,339 | 10 | % | (22,033) | — | — | 28,306 | 6 | % | ||||||||||||||||||||||||||||||||
Total cost of revenue | 203,467 | 41 | % | (47,427) | (1,133) | — | 154,907 | 31 | % | ||||||||||||||||||||||||||||||||
Gross profit (loss): | |||||||||||||||||||||||||||||||||||||||||
Product gross profit | 315,325 | 25,394 | 1,133 | — | 341,852 | ||||||||||||||||||||||||||||||||||||
Professional services and other gross profit (loss) | (17,680) | 22,033 | — | — | 4,353 | ||||||||||||||||||||||||||||||||||||
Total gross profit | 297,645 | 59 | % | 47,427 | 1,133 | — | 346,205 | 69 | % | ||||||||||||||||||||||||||||||||
Product gross margin | 67 | % | 6 | % | — | % | — | % | 73 | % | |||||||||||||||||||||||||||||||
Professional services and other gross margin | (54 | %) | 67 | % | — | % | — | % | 13 | % | |||||||||||||||||||||||||||||||
Total gross margin | 59 | % | 10 | % | — | % | — | % | 69 | % | |||||||||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||||||||
Sales and marketing | 349,707 | 70 | % | (111,871) | — | — | 237,836 | 48 | % | ||||||||||||||||||||||||||||||||
Research and development | 227,883 | 45 | % | (126,653) | (1,797) | — | 99,433 | 20 | % | ||||||||||||||||||||||||||||||||
General and administrative | 125,791 | 25 | % | (57,956) | (798) | (396) | 66,641 | 13 | % | ||||||||||||||||||||||||||||||||
Total operating expenses | 703,381 | 140 | % | (296,480) | (2,595) | (396) | 403,910 | 81 | % | ||||||||||||||||||||||||||||||||
Operating loss | $ | (405,736) | (81 | %) | $ | 343,907 | $ | 3,728 | $ | 396 | $ | (57,705) | (12 | %) | |||||||||||||||||||||||||||
Operating margin | (81 | %) | 68 | % | 1 | % | — | % | (12 | %) | |||||||||||||||||||||||||||||||
(1) Stock-based compensation expense-related charges included approximately $28.3 million of employer payroll tax-related expenses on employee stock transactions. | |||||||||||||||||||||||||||||||||||||||||
Six Months Ended July 31, 2020 | |||||||||||||||||||||||||||||||||||||||||
GAAP amounts | GAAP amounts as a % of revenue | Stock-based compensation expense-related charges(1) | Amortization of acquired intangibles | Expenses associated with acquisitions and strategic investments | Non-GAAP amounts | Non-GAAP amounts as a % of revenue | |||||||||||||||||||||||||||||||||||
Revenue: | |||||||||||||||||||||||||||||||||||||||||
Product revenue | $ | 227,033 | 94 | % | |||||||||||||||||||||||||||||||||||||
Professional services and other revenue | 14,927 | 6 | % | ||||||||||||||||||||||||||||||||||||||
Revenue | 241,960 | 100 | % | ||||||||||||||||||||||||||||||||||||||
Year over Year % Growth | 133 | % | |||||||||||||||||||||||||||||||||||||||
Cost of revenue: | |||||||||||||||||||||||||||||||||||||||||
Cost of product revenue | 78,249 | 32 | % | $ | (1,228) | $ | (563) | $ | — | $ | 76,458 | 32 | % | ||||||||||||||||||||||||||||
Cost of professional services and other revenue | 14,754 | 6 | % | (1,199) | — | — | 13,555 | 5 | % | ||||||||||||||||||||||||||||||||
Total cost of revenue | 93,003 | 38 | % | (2,427) | (563) | — | 90,013 | 37 | % | ||||||||||||||||||||||||||||||||
Gross profit: | |||||||||||||||||||||||||||||||||||||||||
Product gross profit | 148,784 | 1,228 | 563 | — | 150,575 | ||||||||||||||||||||||||||||||||||||
Professional services and other gross profit | 173 | 1,199 | — | — | 1,372 | ||||||||||||||||||||||||||||||||||||
Total gross profit | 148,957 | 62 | % | 2,427 | 563 | — | 151,947 | 63 | % | ||||||||||||||||||||||||||||||||
Product gross margin | 66 | % | — | % | — | % | — | % | 66 | % | |||||||||||||||||||||||||||||||
Professional services and other gross margin | 1 | % | 8 | % | — | % | — | % | 9 | % | |||||||||||||||||||||||||||||||
Total gross margin | 62 | % | 1 | % | — | % | — | % | 63 | % | |||||||||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||||||||
Sales and marketing | 190,540 | 79 | % | (11,762) | (12) | — | 178,766 | 74 | % | ||||||||||||||||||||||||||||||||
Research and development | 69,811 | 29 | % | (11,108) | — | — | 58,703 | 24 | % | ||||||||||||||||||||||||||||||||
General and administrative | 62,692 | 26 | % | (16,737) | (408) | (252) | 45,295 | 19 | % | ||||||||||||||||||||||||||||||||
Total operating expenses | 323,043 | 134 | % | (39,607) | (420) | (252) | 282,764 | 117 | % | ||||||||||||||||||||||||||||||||
Operating loss | $ | (174,086) | (72 | %) | $ | 42,034 | $ | 983 | $ | 252 | $ | (130,817) | (54 | %) | |||||||||||||||||||||||||||
Operating margin | (72 | %) | 18 | % | — | % | — | % | (54 | %) | |||||||||||||||||||||||||||||||
(1) Stock-based compensation expense-related charges included approximately $3.4 million of employer payroll tax-related expenses on employee stock transactions. | |||||||||||||||||||||||||||||||||||||||||
Three Months Ended July 31, | Six Months Ended July 31, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Revenue | $ | 272,198 | $ | 133,145 | $ | 501,112 | $ | 241,960 | |||||||||||||||
GAAP net cash provided by (used in) operating activities | $ | (6,111) | $ | (38,685) | $ | 15,743 | $ | (45,277) | |||||||||||||||
Less: purchases of property and equipment | (3,497) | (4,715) | (9,927) | (6,748) | |||||||||||||||||||
Less: capitalized internal-use software development costs | (2,344) | (981) | (4,824) | (3,170) | |||||||||||||||||||
Non-GAAP free cash flow | (11,952) | (44,381) | 992 | (55,195) | |||||||||||||||||||
Add: net cash paid on payroll tax-related items on employee stock transactions | 14,764 | 365 | 25,209 | 3,384 | |||||||||||||||||||
Non-GAAP adjusted free cash flow | $ | 2,812 | $ | (44,016) | $ | 26,201 | $ | (51,811) | |||||||||||||||
Non-GAAP free cash flow margin | (4 | %) | (33 | %) | — | % | (23 | %) | |||||||||||||||
Non-GAAP adjusted free cash flow margin | 1 | % | (33 | %) | 5 | % | (21 | %) | |||||||||||||||
Cover Page |
Aug. 25, 2021 |
---|---|
Entity Information [Line Items] | |
Document Type | 8-K |
Document Period End Date | Aug. 25, 2021 |
Entity Registrant Name | SNOWFLAKE INC. |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 001-39504 |
Entity Tax Identification Number | 46-0636374 |
Entity Address, Address Line One | Suite 3A, 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 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Class A Common Stock, $0.0001 par value |
Trading Symbol | SNOW |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Amendment Flag | false |
Entity Central Index Key | 0001640147 |
Former Address | |
Entity Information [Line Items] | |
Entity Address, Address Line One | Not Applicable |
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