SNOW — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-09-04

• On June 3, 2026, we acquired all of the outstanding capital stock of Natoma Labs, Inc. (Natoma), an enterprise Model Context Protocol platform for AI agents. The preliminary purchase consideration was $128.3 million, which was comprised primarily of approximately 0.5 million shares of our common sto…

• Less: net income attributable to noncontrolling interest————

• Cost of professional services and other revenue increased $6.2 million and $20.3 million for the three and six months ended July 31, 2026, compared to the three and six months ended July 31, 2025, respectively. These increases were primarily due to an increase of $8.9 million and $24.3 million in pe…

• Research and development expenses increased $75.5 million and $138.0 million for the three and six months ended July 31, 2026, compared to the three and six months ended July 31, 2025, respectively. These increases were primarily due to an increase of $42.5 million and $61.6 million for the three an…

• In addition, personnel-related costs and allocated overhead costs increased $30.3 million and $69.9 million for the three and six months ended July 31, 2026, respectively, compared to the same periods in the prior year, as a result of increased stock-based compensation, headcount, and overall costs …

Text removed vs the prior filing · source: 10-Q · 2026-05-29

• Cost of professional services and other revenue increased $14.1 million for the three months ended April 30, 2026, compared to the three months ended April 30, 2025, primarily due to an increase in personnel-related costs and allocated overhead costs for the three months ended April 30, 2026 as a re…

• Research and development expenses increased $62.5 million for the three months ended April 30, 2026, compared to the three months ended April 30, 2025, primarily due to an increase of $39.6 million in personnel-related costs and allocated overhead costs as a result of increased stock-based compensat…

• In addition, third-party cloud infrastructure expenses, including those related to AI inferences and GPUs, incurred primarily in developing our platform, increased $19.1 million for the three months ended April 30, 2026, compared to the same period in the prior year.

• General and administrative expenses decreased $80.9 million for the three months ended April 30, 2026, compared to the three months ended April 30, 2025, primarily driven by a decrease of $88.8 million in asset impairment charges related to office facility exits. During the three months ended April …

• Interest income decreased $12.0 million during the three months ended April 30, 2026, compared to the three months ended April 30, 2025, primarily driven by lower weighted average annual yields as well as a decrease in the average balance of our cash equivalents and investments in available-for-sale…

Text added vs the prior filing · source: 10-Q · 2026-09-04

• On February 24, 2026, a stockholder class action lawsuit was filed against us, our former Chief Executive Officer, and our former Chief Financial Officer in the United States District Court for the Northern District of California, alleging violations under Sections 10(b) and 20(a) of the Exchange Ac…

Text removed vs the prior filing · source: 10-Q · 2026-05-29

• On February 24, 2026, a stockholder class action lawsuit was filed against us, our former Chief Executive Officer, and our former Chief Financial Officer in the United States District Court for the Northern District of California, alleging violations under Sections 10(b) and 20(a) of the Exchange Ac…

• On May 22, 2026, a stockholder class action lawsuit was filed against us, our former Chief Executive Officer, and our former Chief Financial Officer in the United States District Court for the Northern District of California, alleging violations under Sections 10(b) and 20(a) of the Exchange Act. Th…

Text added vs the prior filing · source: 10-Q · 2026-09-04

• Successful execution of our AI strategy depends on effective product development, partner relationships, and use of AI in internal operations, as well as favorable customer demand and competitive dynamics. Failure to successfully execute our AI strategy could materially harm our business, financial …

• Our success is dependent on our ability to succeed in a rapidly changing technology environment dominated by AI. We have made and expect to continue to make significant capital and operational investments in AI, including investments in time, people, and infrastructure to internally develop AI techn…

• A core component of our AI strategy includes incorporating third-party AI technologies, including frontier AI models (both proprietary and open-source), into our products and services. As a result, we are subject to a number of risks arising from our dependence on partner relationships and AI models…

• In addition, our successful development and deployment of AI depends in part on our access to GPUs and ability to recruit and retain AI-skilled personnel, both of which are currently in high demand. We have experienced and may continue to experience difficulties sourcing GPUs to support our AI offer…

• Customers’ use of our AI functionality is often dependent on their ability to meet evolving regulatory standards, successfully complete internal compliance reviews, and enter into mutually acceptable contractual terms. If they are unable to do so, they may not use our AI functionality as much as we …

Text removed vs the prior filing · source: 10-Q · 2026-05-29

• distinct customer requirements and preferences. Our success depends on our ability to continue to effectively innovate in response to changing market dynamics.

• If we are not successful in executing an effective AI strategy, our business, financial condition, and results of operations could be harmed.

• We have invested and continue to invest significantly in AI Technology. Our investments include internally developing AI Technology, acquiring companies with complementary AI Technology, and partnering with companies to bring AI Technology to our platform. Our competitors are pursuing similar opport…

• In addition, we are increasingly using AI Technology as part of our internal operations. For example, we use AI Technology to enhance research and development, sales and marketing, services delivery, and compliance activities. If we are unable to effectively leverage AI Technology in our internal op…

• •Certain other jurisdictions have enacted data localization laws and cross-border personal information transfer laws, such as Brazil, China, and Saudi Arabia, which could make it more difficult for us to transfer personal information across jurisdictions (such as transferring or receiving personal o…

Text added vs the prior filing · source: 10-Q · 2026-09-04

• During our last fiscal quarter, none of our directors or officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated any “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Item 408 of Regulation S-K.

• On August 31, 2026, the Company’s board of directors (Board), upon the recommendation of the nominating and governance committee of the Board, approved and adopted an amendment and restatement of the Company’s bylaws (Amended and Restated Bylaws), effective as of such date, to:

• •implement a majority vote standard for uncontested director elections under which a director nominee will be elected to the Board only if the votes cast “for” such nominee’s election exceed the votes cast “against” such nominee’s election, with “abstentions” and “broker non-votes” not counted as vo…

• •update the advance notice provision to require submission of a completed questionnaire with respect to director nominees proposed by stockholders; and

• •make certain conforming, technical, clarifying, and ministerial changes.

Text removed vs the prior filing · source: 10-Q · 2026-05-29

• During our last fiscal quarter, our directors and/or officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated the contracts, instructions, or written plans for the purchase or sale of the Company’s securities as set forth in the table below.

• * Intended to satisfy the affirmative defense of Rule 10b5-1(c)

• ** Not intended to satisfy the affirmative defense of Rule 10b5-1(c)

• (2)The trading arrangement includes (a) gifts of up to 200,016 shares of our common stock and (b) up to 230,432 shares of common stock underlying vested stock options to be exercised and held.