Subsequent Event

9 Months Ended

Oct. 31, 2024

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Business Combination

On November 25, 2024, the Company acquired all outstanding stock of Datavolo, Inc. (Datavolo), a privately-held company which developed a platform for building and managing multimodal data pipelines, for approximately $170 million, consisting primarily of the Company’s common stock (Equity Consideration), with the remainder in cash. A portion of the Equity Consideration issued to certain of Datavolo’s employees is subject to vesting agreements pursuant to which the shares will vest over four years, subject to their continued employment with Snowflake or its affiliates. The Company acquired Datavolo primarily for its talent and developed technology. Given the timing of the completion of the acquisition, the initial accounting for this acquisition is incomplete at the time the condensed consolidated financial statements are issued.

Operating Lease

As set forth in Note 11, “Commitments and Contingencies,” in November 2024, the Company entered into an agreement for a new office facility located in the United States, with a total commitment of $167 million. The lease will commence on various dates starting in fiscal 2025, with an expiration date in fiscal 2034. The Company will recognize the related right-of-use assets and lease liabilities, which have not yet been determined, at the respective lease commencement dates.