Net Loss per Share

3 Months Ended

Apr. 30, 2024

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, which excludes treasury stock. 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 ESPP Rights 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 April 30,
	2024		2023

Numerator:
Net loss	$	(317,816)	$	(226,064)
Less: net loss attributable to noncontrolling interest	(828)		(437)
Net loss attributable to Snowflake Inc. Class A common stockholders	$	(316,988)	$	(225,627)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted	333,584		324,157
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted	$	(0.95)	$	(0.70)

No Class B common stock was outstanding during any periods presented.

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 Months Ended April 30,
	2024	2023


Stock options	26,858	33,428

RSUs	23,041	20,544
Unvested restricted common stock and early exercised stock options	525	298
Employee stock purchase rights under the 2020 ESPP	111	80
Total	50,535	54,350