Net Loss per Share

6 Months Ended

Jul. 31, 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 July 31,				Six Months Ended July 31,
	2024		2023		2024		2023

Numerator:
Net loss	$	(317,770)	$	(227,320)	$	(635,586)	$	(453,384)
Less: net loss attributable to noncontrolling interest	(871)		(453)		(1,699)		(890)
Net loss attributable to Snowflake Inc. Class A common stockholders	$	(316,899)	$	(226,867)	$	(633,887)	$	(452,494)
Denominator:
Weighted-average shares used in computing net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted	334,071		327,335		333,830		325,772
Net loss per share attributable to Snowflake Inc. Class A common stockholders—basic and diluted	$	(0.95)	$	(0.69)	$	(1.90)	$	(1.39)

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 and Six Months Ended July 31,
	2024	2023


Stock options	25,097	30,893

RSUs	22,432	20,497
Unvested restricted common stock and early exercised stock options	500	291
Employee stock purchase rights under the 2020 ESPP	271	176
Total	48,300	51,857