diff --git a/services/web/frontend/js/infrastructure/project-snapshot.ts b/services/web/frontend/js/infrastructure/project-snapshot.ts
index b6300e505b..eb7c768adf 100644
--- a/services/web/frontend/js/infrastructure/project-snapshot.ts
+++ b/services/web/frontend/js/infrastructure/project-snapshot.ts
@@ -1,5 +1,4 @@
 import pLimit from 'p-limit'
-import OError from '@overleaf/o-error'
 import { Change, Chunk, Snapshot } from 'overleaf-editor-core'
 import { RawChange, RawChunk } from 'overleaf-editor-core/lib/types'
 import { FetchError, getJSON, postJSON } from '@/infrastructure/fetch-json'
@@ -15,16 +14,18 @@ export class ProjectSnapshot {
   private version: number
   private blobStore: SimpleBlobStore
   private refreshPromise: Promise<void>
-  private queuedRefreshPromise: Promise<void>
-  private state: ProjectSnapshotState
+  private initialized: boolean
+  private refreshing: boolean
+  private queued: boolean
 
   constructor(projectId: string) {
     this.projectId = projectId
     this.snapshot = new Snapshot()
     this.version = 0
     this.refreshPromise = Promise.resolve()
-    this.queuedRefreshPromise = Promise.resolve()
-    this.state = new ProjectSnapshotState()
+    this.initialized = false
+    this.refreshing = false
+    this.queued = false
     this.blobStore = new SimpleBlobStore(this.projectId)
   }
 
@@ -36,31 +37,19 @@ export class ProjectSnapshot {
    * function was called.
    */
   async refresh() {
-    switch (this.state.getState()) {
-      case 'init':
-        this.refreshPromise = this.initialize()
-        await this.refreshPromise
-        break
-
-      case 'ready':
-        this.refreshPromise = this.loadChanges()
-        await this.refreshPromise
-        break
-
-      case 'refreshing':
-        this.queuedRefreshPromise = this.queueRefresh()
-        await this.queuedRefreshPromise
-        break
-
-      case 'queued-ready':
-      case 'queued-waiting':
-        await this.queuedRefreshPromise
-        break
-
-      default:
-        throw new OError('Unknown state for project snapshot', {
-          state: this.state.getState(),
-        })
+    if (this.queued) {
+      // There already is a queued refresh that will run after this call.
+      // Just wait for it to complete.
+      await this.refreshPromise
+    } else if (this.refreshing) {
+      // There is a refresh running, but no queued refresh. Queue a refresh
+      // after this one and make it the new promise to wait for.
+      this.refreshPromise = this.queueRefresh()
+      await this.refreshPromise
+    } else {
+      // There is no refresh running. Start one.
+      this.refreshPromise = this.startRefresh()
+      await this.refreshPromise
     }
   }
 
@@ -83,20 +72,49 @@ export class ProjectSnapshot {
     return file.getContent({ filterTrackedDeletes: true }) ?? null
   }
 
+  /**
+   * Immediately start a refresh
+   */
+  private async startRefresh() {
+    this.refreshing = true
+    try {
+      if (!this.initialized) {
+        await this.initialize()
+      } else {
+        await this.loadChanges()
+      }
+    } finally {
+      this.refreshing = false
+    }
+  }
+
+  /**
+   * Queue a refresh after the currently running refresh
+   */
+  private async queueRefresh() {
+    this.queued = true
+    try {
+      await this.refreshPromise
+    } catch {
+      // Ignore errors
+    }
+    this.queued = false
+    await this.startRefresh()
+  }
+
   /**
    * Initialize the snapshot using the project's latest chunk.
    *
    * This is run on the first refresh.
    */
   private async initialize() {
-    this.state.startRefresh()
     await flushHistory(this.projectId)
     const chunk = await fetchLatestChunk(this.projectId)
     this.snapshot = chunk.getSnapshot()
     this.snapshot.applyAll(chunk.getChanges())
     this.version = chunk.getEndVersion()
     await this.loadDocs()
-    this.state.endRefresh()
+    this.initialized = true
   }
 
   /**
@@ -105,22 +123,11 @@ export class ProjectSnapshot {
    * This is run on the second and subsequent refreshes
    */
   private async loadChanges() {
-    this.state.startRefresh()
     await flushHistory(this.projectId)
     const changes = await fetchLatestChanges(this.projectId, this.version)
     this.snapshot.applyAll(changes)
     this.version += changes.length
     await this.loadDocs()
-    this.state.endRefresh()
-  }
-
-  /**
-   * Wait for the current refresh to complete, then start a refresh.
-   */
-  private async queueRefresh() {
-    this.state.queueRefresh()
-    await this.refreshPromise
-    await this.loadChanges()
   }
 
   /**
@@ -143,106 +150,6 @@ export class ProjectSnapshot {
   }
 }
 
-/**
- * State machine for the project snapshot
- *
- * There are 5 states:
- *
- * - init: when the snapshot is built
- * - refreshing: while the snapshot is refreshing
- * - queued-waiting: while the snapshot is refreshing and another refresh is queued
- * - queued-ready: when a refresh is queued, but no refresh is running
- * - ready: when no refresh is running and no refresh is queued
- *
- * There are three transitions:
- *
- * - start: start a refresh operation
- * - end: end a refresh operation
- * - queue: queue a refresh operation
- *
- * Valid transitions are as follows:
- *
- *                       +------------+
- *                       |   ready    |
- *                       +------------+
- *                         ^       |
- *                         |       |
- *                        end    start
- *                         |       |
- *                         |       v
- * +------+              +------------+             +----------------+
- * | init |----start---->| refreshing |---queue---> | queued-waiting |
- * +------+              +------------+             +----------------+
- *                             ^                             |
- *                             |                             |
- *                           start                          end
- *                             |                             |
- *                             |     +--------------+        |
- *                             +-----| queued-ready |<-------+
- *                                   +--------------+
- *
- * These transitions ensure that there are never two refreshes running
- * concurrently. In every path, "start" and "end" transitions always alternate.
- * You never have two consecutive "start" or two consecutive "end".
- */
-class ProjectSnapshotState {
-  private state:
-    | 'init'
-    | 'refreshing'
-    | 'ready'
-    | 'queued-waiting'
-    | 'queued-ready' = 'init'
-
-  getState() {
-    return this.state
-  }
-
-  startRefresh() {
-    switch (this.state) {
-      case 'init':
-      case 'ready':
-      case 'queued-ready':
-        this.state = 'refreshing'
-        break
-
-      default:
-        throw new OError("Can't start a snapshot refresh in this state", {
-          state: this.state,
-        })
-    }
-  }
-
-  endRefresh() {
-    switch (this.state) {
-      case 'refreshing':
-        this.state = 'ready'
-        break
-
-      case 'queued-waiting':
-        this.state = 'queued-ready'
-        break
-
-      default:
-        throw new OError("Can't end a snapshot refresh in this state", {
-          state: this.state,
-        })
-    }
-  }
-
-  queueRefresh() {
-    switch (this.state) {
-      case 'refreshing':
-        this.state = 'queued-waiting'
-        break
-
-      default:
-        throw new OError("Can't queue a snapshot refresh in this state", {
-          state: this.state,
-        })
-    }
-  }
-}
-
 /**
  * Blob store that fetches blobs from the history service
  */
diff --git a/services/web/test/frontend/infrastructure/project-snapshot.test.ts b/services/web/test/frontend/infrastructure/project-snapshot.test.ts
index 5038738ed2..1e9fa6792b 100644
--- a/services/web/test/frontend/infrastructure/project-snapshot.test.ts
+++ b/services/web/test/frontend/infrastructure/project-snapshot.test.ts
@@ -76,19 +76,69 @@ describe('ProjectSnapshot', function () {
     startVersion: 0,
   }
 
+  const changes = [
+    {
+      operations: [
+        {
+          pathname: 'hello.txt',
+          textOperation: ['Quote: ', files['hello.txt'].contents.length],
+        },
+        {
+          pathname: 'goodbye.txt',
+          file: {
+            hash: files['goodbye.txt'].hash,
+            stringLength: files['goodbye.txt'].contents.length,
+          },
+        },
+      ],
+      timestamp: '2025-01-01T13:00:00.000Z',
+    },
+  ]
+
+  function mockFlush(
+    opts: { repeat?: number; failOnCall?: (call: number) => boolean } = {}
+  ) {
+    let currentCall = 0
+    const getResponse = () => {
+      currentCall += 1
+      return opts.failOnCall?.(currentCall) ? 500 : 200
+    }
+
+    fetchMock.post(`/project/${projectId}/flush`, getResponse, {
+      name: 'flush',
+      repeat: opts.repeat ?? 1,
+    })
+  }
+
+  function mockLatestChunk() {
+    fetchMock.getOnce(
+      `/project/${projectId}/latest/history`,
+      { chunk },
+      { name: 'latest-chunk' }
+    )
+  }
+
+  function mockChanges() {
+    fetchMock.getOnce(`/project/${projectId}/changes?since=1`, changes, {
+      name: 'changes-1',
+    })
+    fetchMock.get(`/project/${projectId}/changes?since=2`, [], {
+      name: 'changes-2',
+    })
+  }
+
+  function mockBlobs(paths = Object.keys(files) as (keyof typeof files)[]) {
+    for (const path of paths) {
+      const file = files[path]
+      fetchMock.get(`/project/${projectId}/blob/${file.hash}`, file.contents)
+    }
+  }
+
   async function initializeSnapshot() {
-    fetchMock.postOnce(`/project/${projectId}/flush`, 200)
-    fetchMock.getOnce(`/project/${projectId}/latest/history`, { chunk })
-    fetchMock.getOnce(
-      `/project/${projectId}/blob/${files['main.tex'].hash}`,
-      files['main.tex'].contents
-    )
-    fetchMock.getOnce(
-      `/project/${projectId}/blob/${files['hello.txt'].hash}`,
-      files['hello.txt'].contents
-    )
+    mockFlush()
+    mockLatestChunk()
+    mockBlobs(['main.tex', 'hello.txt'])
     await snapshot.refresh()
-    expect(fetchMock.done()).to.be.true
     fetchMock.reset()
   }
 
@@ -121,34 +171,11 @@ describe('ProjectSnapshot', function () {
     })
   })
 
-  const changes = [
-    {
-      operations: [
-        {
-          pathname: 'hello.txt',
-          textOperation: ['Quote: ', files['hello.txt'].contents.length],
-        },
-        {
-          pathname: 'goodbye.txt',
-          file: {
-            hash: files['goodbye.txt'].hash,
-            stringLength: files['goodbye.txt'].contents.length,
-          },
-        },
-      ],
-      timestamp: '2025-01-01T13:00:00.000Z',
-    },
-  ]
-
   async function refreshSnapshot() {
-    fetchMock.postOnce(`/project/${projectId}/flush`, 200, { repeat: 2 })
-    fetchMock.getOnce(`/project/${projectId}/changes?since=1`, changes)
-    fetchMock.getOnce(
-      `/project/${projectId}/blob/${files['goodbye.txt'].hash}`,
-      files['goodbye.txt'].contents
-    )
+    mockFlush()
+    mockChanges()
+    mockBlobs(['goodbye.txt'])
     await snapshot.refresh()
-    expect(fetchMock.done()).to.be.true
     fetchMock.reset()
   }
 
@@ -170,7 +197,7 @@ describe('ProjectSnapshot', function () {
       })
     })
 
-    describe('getDocCotents()', function () {
+    describe('getDocContents()', function () {
       it('returns the up to date content', function () {
         expect(snapshot.getDocContents('hello.txt')).to.equal(
           `Quote: ${files['hello.txt'].contents}`
@@ -184,4 +211,177 @@ describe('ProjectSnapshot', function () {
       })
     })
   })
+
+  describe('concurrency', function () {
+    afterEach(function () {
+      fetchMock.reset()
+    })
+
+    specify('two concurrent inits', async function () {
+      mockFlush({ repeat: 2 })
+      mockLatestChunk()
+      mockChanges()
+      mockBlobs()
+
+      await Promise.all([snapshot.refresh(), snapshot.refresh()])
+
+      // The first request initializes, the second request loads changes
+      expect(fetchMock.calls('flush')).to.have.length(2)
+      expect(fetchMock.calls('latest-chunk')).to.have.length(1)
+      expect(fetchMock.calls('changes-1')).to.have.length(1)
+    })
+
+    specify('three concurrent inits', async function () {
+      mockFlush({ repeat: 2 })
+      mockLatestChunk()
+      mockChanges()
+      mockBlobs()
+
+      await Promise.all([
+        snapshot.refresh(),
+        snapshot.refresh(),
+        snapshot.refresh(),
+      ])
+
+      // The first request initializes, the second and third are combined and
+      // load changes
+      expect(fetchMock.calls('flush')).to.have.length(2)
+      expect(fetchMock.calls('latest-chunk')).to.have.length(1)
+      expect(fetchMock.calls('changes-1')).to.have.length(1)
+    })
+
+    specify('two concurrent inits - first fails', async function () {
+      mockFlush({ repeat: 2, failOnCall: call => call === 1 })
+      mockLatestChunk()
+      mockBlobs()
+
+      const results = await Promise.allSettled([
+        snapshot.refresh(),
+        snapshot.refresh(),
+      ])
+
+      // The first init fails, but the second succeeds
+      expect(results.filter(r => r.status === 'fulfilled')).to.have.length(1)
+      expect(fetchMock.calls('flush')).to.have.length(2)
+      expect(fetchMock.calls('latest-chunk')).to.have.length(1)
+      expect(fetchMock.calls('changes-1')).to.have.length(0)
+    })
+
+    specify('three concurrent inits - second fails', async function () {
+      mockFlush({ repeat: 4, failOnCall: call => call === 2 })
+      mockLatestChunk()
+      mockChanges()
+      mockBlobs()
+
+      const results = await Promise.allSettled([
+        snapshot.refresh(),
+        snapshot.refresh(),
+        snapshot.refresh(),
+      ])
+
+      // Another request afterwards
+      await snapshot.refresh()
+
+      // The first init succeeds, the two queued requests fail, the last request
+      // succeeds
+      expect(results.filter(r => r.status === 'fulfilled')).to.have.length(1)
+      expect(fetchMock.calls('flush')).to.have.length(3)
+      expect(fetchMock.calls('latest-chunk')).to.have.length(1)
+      expect(fetchMock.calls('changes-1')).to.have.length(1)
+      expect(fetchMock.calls('changes-2')).to.have.length(0)
+    })
+
+    specify('two concurrent load changes', async function () {
+      mockFlush({ repeat: 3 })
+      mockLatestChunk()
+      mockChanges()
+      mockBlobs()
+
+      // Initialize
+      await snapshot.refresh()
+
+      // Two concurrent load changes
+      await Promise.all([snapshot.refresh(), snapshot.refresh()])
+
+      // One init, two load changes
+      expect(fetchMock.calls('flush')).to.have.length(3)
+      expect(fetchMock.calls('latest-chunk')).to.have.length(1)
+      expect(fetchMock.calls('changes-1')).to.have.length(1)
+      expect(fetchMock.calls('changes-2')).to.have.length(1)
+    })
+
+    specify('three concurrent load changes', async function () {
+      mockFlush({ repeat: 3 })
+      mockLatestChunk()
+      mockChanges()
+      mockBlobs()
+
+      // Initialize
+      await snapshot.refresh()
+
+      // Three concurrent load changes
+      await Promise.all([
+        snapshot.refresh(),
+        snapshot.refresh(),
+        snapshot.refresh(),
+      ])
+
+      // One init, two load changes (the two last are queued and combined)
+      expect(fetchMock.calls('flush')).to.have.length(3)
+      expect(fetchMock.calls('latest-chunk')).to.have.length(1)
+      expect(fetchMock.calls('changes-1')).to.have.length(1)
+      expect(fetchMock.calls('changes-2')).to.have.length(1)
+    })
+
+    specify('two concurrent load changes - first fails', async function () {
+      mockFlush({ repeat: 3, failOnCall: call => call === 2 })
+      mockLatestChunk()
+      mockChanges()
+      mockBlobs()
+
+      // Initialize
+      await snapshot.refresh()
+
+      // Two concurrent load changes
+      const results = await Promise.allSettled([
+        snapshot.refresh(),
+        snapshot.refresh(),
+      ])
+
+      // One init, one load changes fails, the second succeeds
+      expect(results.filter(r => r.status === 'fulfilled')).to.have.length(1)
+      expect(fetchMock.calls('flush')).to.have.length(3)
+      expect(fetchMock.calls('latest-chunk')).to.have.length(1)
+      expect(fetchMock.calls('changes-1')).to.have.length(1)
+      expect(fetchMock.calls('changes-2')).to.have.length(0)
+    })
+
+    specify('three concurrent load changes - second fails', async function () {
+      mockFlush({ repeat: 4, failOnCall: call => call === 3 })
+      mockLatestChunk()
+      mockChanges()
+      mockBlobs()
+
+      // Initialize
+      await snapshot.refresh()
+
+      // Two concurrent load changes
+      const results = await Promise.allSettled([
+        snapshot.refresh(),
+        snapshot.refresh(),
+        snapshot.refresh(),
+      ])
+
+      // Another request afterwards
+      await snapshot.refresh()
+
+      // One init, one load changes succeeds, the second and third are combined
+      // and fail, the last request succeeds
+      expect(results.filter(r => r.status === 'fulfilled')).to.have.length(1)
+      expect(fetchMock.calls('flush')).to.have.length(4)
+      expect(fetchMock.calls('latest-chunk')).to.have.length(1)
+      expect(fetchMock.calls('changes-1')).to.have.length(1)
+      expect(fetchMock.calls('changes-2')).to.have.length(1)
+    })
+  })
 })