Sign in

    Snowflake Inc (SNOW)

    Snowflake Inc. (SNOW) is a cloud-based data platform company that enables organizations to consolidate, manage, and analyze their data efficiently. The company provides a flexible, consumption-based platform that supports a variety of workloads, including data warehousing, data lakes, data engineering, and secure data sharing. Snowflake's innovative architecture allows customers to scale their data operations seamlessly across industries and geographies.

    1. Product Revenue - Generates revenue from customer consumption of Snowflake's data platform, which includes compute, storage, and data transfer resources. Supports diverse workloads such as data warehousing, data lakes, and data application development.
    2. Professional Services and Other Revenue - Offers training, consulting, and other services to help customers optimize their use of Snowflake's platform.
    1. Given that your Q2 product revenue growth was 30% year-over-year , and the magnitude of the beat was smaller than in Q1 , what factors contributed to this deceleration, and how do you anticipate this trend impacting future quarters?

    2. With net revenue retention rate continuing to converge with overall revenue growth , are there specific strategies you are implementing to stabilize NRR, especially considering the introduction of new products like Iceberg tables?

    3. Considering your guidance includes headwinds from storage revenue runoff due to Iceberg tables , is the expected pace of this runoff tracking as anticipated, or are you seeing signs that it might accelerate and impact future revenues more significantly?

    4. Given the acquisition of Tabular affecting the Iceberg ecosystem , how do you plan to position Snowflake to attract talent and maintain competitiveness in this space amidst these industry changes?

    5. Despite macroeconomic concerns, you reported strength in the financial services and technology verticals , can you elaborate on what is driving this growth and whether you believe these trends are sustainable in the current market environment?

    Program DetailsProgram 1 (February 2023)Program 2 (August 2024)
    Approval DateFebruary 2023 August 2024
    End Date/DurationMarch 2025 March 2027
    Total Additional Amount$2.0 billion $2.5 billion
    Remaining Amount (2025-01-03)$0.0 billion $2.0 billion
    DetailsSuperseded by Program 2 Active, extended duration

    Notes:

    • The February 2023 program was initially authorized for $2.0 billion but was effectively superseded by the August 2024 program, which extended the total authorization and duration.
    • As of January 3, 2025, the remaining authorization amount of $2.0 billion is fully allocated to the August 2024 program.