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Snowflake Inc. Class A (SNOW-0.36%) has submitted its Form 10-K filing for the fiscal year ended January 31, 2025.
The filing reports total revenue of $3.6 billion for the year, up from $2.8 billion in the previous fiscal year. Product revenue, which accounts for the majority of the total, increased by 30% to $3.46 billion.
Net loss for the fiscal year was $1.3 billion, compared to $838.0 million in the prior year. The company attributes the loss to increased operating expenses, which totaled $3.9 billion, up from $3.0 billion in the previous year.
Snowflake's net revenue retention rate was 126% as of January 31, 2025, indicating continued growth in customer consumption of its platform.
The company ended the fiscal year with 11,159 total customers, including 745 of the Forbes Global 2000, contributing approximately 42% of the total revenue.
Cash provided by operating activities was $959.8 million, while free cash flow was $884.1 million, reflecting the company's focus on cash flow and long-term profitability.
Snowflake reported remaining performance obligations of $6.9 billion, with approximately 48% expected to be recognized as revenue in the next fiscal year, based on historical consumption patterns.
The company continues to invest in its platform, focusing on expanding its capabilities in artificial intelligence and machine learning, as well as increasing its global footprint.
Snowflake's stock repurchase program resulted in the repurchase of 14.8 million shares for $1.9 billion during the fiscal year, with $2.0 billion remaining available for future repurchases.
The filing also details the issuance of $2.3 billion in convertible senior notes and the related capped call transactions, designed to offset potential dilution from the notes.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Snowflake Inc. Class A annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.