Net Loss per Share

9 Months Ended

Oct. 31, 2023

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. 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, early exercised stock options, and employee stock purchase rights under the 2020 ESPP 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.

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):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2023		2022		2023		2022

Numerator:
Net loss	$	(214,694)	$	(201,442)	$	(668,078)	$	(590,042)
Less: net loss attributable to noncontrolling interest	(443)		(506)		(1,333)		(506)
Net loss attributable to Snowflake Inc. Class A common stockholders	$	(214,251)	$	(200,936)	$	(666,745)	$	(589,536)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted	329,310		320,135		326,964		317,653
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted	$	(0.65)	$	(0.63)	$	(2.04)	$	(1.86)

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):


	Three and Nine Months Ended October 31,
	2023	2022


Stock options	29,776	37,106

RSUs	19,866	15,561
Unvested restricted common stock and early exercised stock options	286	543
Employee stock purchase rights under the 2020 ESPP	130	107
Total	50,058	53,317