Snowflake(US:SNOW)2024-11-27 21:22Stock Repurchases and Financing Activities - Company repurchased 14.8 million shares of common stock for $1.9 billion at a weighted-average price of $130.87 per share during the nine months ended October 31, 2024[328] - Net cash used in financing activities was $106.4 million for the nine months ended October 31, 2024, driven by $1.9 billion in stock repurchases and $359.6 million in taxes paid for equity awards[339] - Board authorized an additional $2.5 billion stock repurchase program in August 2024, extending the expiration date to March 2027[328] Cash Flow and Operating Activities - Net cash provided by operating activities increased to $527.0 million for the nine months ended October 31, 2024, up from $503.5 million in the same period in 2023[336] - Company expects to generate positive net cash flows from operating activities for fiscal 2025[336] Investments and Market Risks - Strategic investments increased to $296.2 million as of October 31, 2024, up from $234.4 million as of January 31, 2024, driven by growth in non-marketable equity securities under the Measurement Alternative from $190.2 million to $280.6 million[353] - Strategic investments are subject to market risks, including volatility and potential impairment, which could impact financial results[352] - The company anticipates additional volatility in operations due to market price changes and impairments related to strategic investments[354] - The company's strategic investments are subject to market-related risks, including volatility and potential impairment, which could impact financial results[352] Cash, Cash Equivalents, and Investments - Company had $5.0 billion in cash, cash equivalents, and investments as of October 31, 2024, with a hypothetical 100 basis point interest rate change impacting market value by $19.1 million[345] - The company holds $5.0 billion in cash, cash equivalents, and investments as of October 31, 2024, with a hypothetical 100 basis point interest rate change impacting market value by $19.1 million[345] Debt Issuance and Hedging - Company issued $2.3 billion in Notes in September 2024 and entered into Capped Calls for $195.5 million to reduce potential dilution[347] - In September 2024, the company issued $2.3 billion in Notes, with no regular interest accrual, and entered into Capped Calls costing $195.5 million to mitigate potential dilution[347] - Foreign currency forward contracts were used to hedge against exchange rate risks, with all contracts maturing within twelve months[349] - Foreign currency exchange risk is managed through forward contracts, with a 10% change in the U.S. dollar value not expected to materially impact operating results[350] Investing Activities - Net cash used in investing activities was $34.2 million for the nine months ended October 31, 2024, primarily due to $75.6 million spent on property, equipment, and business combinations[337] Internal Controls and Reporting - Disclosure controls and procedures were deemed effective as of October 31, 2024, ensuring timely and accurate reporting[356] - No material changes in internal control over financial reporting were identified during the quarter ended October 31, 2024[357]