Every material Form 8-K Snowflake Inc. has filed with the SEC since July 16, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Snowflake completed a private offering of $3.75 billion in 0.00% convertible senior notes on September 28, 2026, comprising $2.0 billion due 2029 and $1.75 billion due 2031. The notes carry no regular interest, and holders may convert them into cash, shares, or a combination, at the company's election, which could lead to future dilution for shareholders, although capped call transactions are expected to reduce that potential dilution.
The 2029 notes mature October 15, 2029, with an initial conversion price of about $500.38 per share; the 2031 notes mature October 15, 2031, with an initial conversion price of about $483.98 per share.
Initial purchasers have options for up to an additional $300.0 million of 2029 notes and $250.0 million of 2031 notes.
Snowflake expects net proceeds of about $3.70 billion, with about $383.5 million used for capped call transactions and about $548.3 million for repurchasing about $261.8 million principal of its 2027 notes.
Snowflake reported second-quarter fiscal 2027 results for the quarter ended July 31, 2026, with revenue of $1.55 billion, up 35% year over year. It raised full-year fiscal 2027 product revenue guidance to $6,070 million, up from $5,840 million, and raised non-GAAP operating margin guidance to 14.5%. The quarter also included a GAAP operating loss of $263.0 million, which shareholders should weigh against the growth and guidance increase.
Q2 revenue was $1.55 billion, up 35% year over year; product revenue was $1.49 billion, up 37%.
Full-year fiscal 2027 product revenue guidance was raised to $6,070 million (36% growth) from $5,840 million (31% growth).
Full-year non-GAAP operating margin guidance was raised to 14.5% from 13.5%.
Q2 GAAP operating loss was $263.0 million (negative 17.0% margin); non-GAAP operating income was $237.0 million (15.3% margin).
On July 15, 2026, Snowflake's Compensation Committee granted CEO Sridhar Ramaswamy a performance-based restricted stock unit award covering 1,000,000 shares of common stock. The award vests only if both a service requirement and five escalating stock price targets, from $324 to $531, are met, which the company says requires material long-term stockholder value creation.
Award covers 1,000,000 shares of common stock under the 2020 Equity Incentive Plan, granted July 15, 2026.
Five tranches have stock price targets of $324, $375, $427, $479 and $531, with 100,000, 150,000, and three tranches of 250,000 shares each.
Service requirement is met on September 15, 2029 for tranches 1 and 2 and September 15, 2030 for tranches 3 to 5.
Board may require forfeiture or recoupment of vested shares in cases of misconduct or an accounting restatement under the clawback policy.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Snowflake Inc. filing is on SEC EDGAR ↗. 8-K briefs of other companies →