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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.
- 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.
- Professional Services and Other Revenue - Offers training, consulting, and other services to help customers optimize their use of Snowflake's platform.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Benoit Dageville ExecutiveBoard | President of Products | None | Co-founder of Snowflake, serving as President of Products and board member since August 2012. Previously CTO until May 2019. | |
Christian Kleinerman Executive | EVP of Product | None | Joined Snowflake in January 2018, promoted to EVP of Product in February 2024. Previously worked at Google LLC. | |
Christopher W. Degnan Executive | Chief Revenue Officer | None | Joined Snowflake in November 2013, became CRO in August 2018. Previously held sales roles at EMC Corporation and Aveksa, Inc.. | |
Michael P. Scarpelli Executive | Chief Financial Officer | None | Michael P. Scarpelli has been CFO since August 2019, previously serving as CFO at ServiceNow and Data Domain Corporation. | |
Sridhar Ramaswamy Executive | Chief Executive Officer | None | Sridhar Ramaswamy joined Snowflake in June 2023 as SVP, AI, and became CEO in February 2024. He previously held leadership roles at Neeva Inc., Greylock Partners, and Google LLC. | View Report → |
Frank Slootman Board | Chairman of the Board | None | Former CEO from April 2019 to February 2024, continues as Chairman. Led Snowflake through its IPO in 2020. | |
Jayshree V. Ullal Board | Board Member | President, CEO, and Director of Arista Networks, Inc. | Board member since June 2020, CEO of Arista Networks since October 2008. | |
Jeremy Burton Board | Board Member | CEO of Observe, Inc. | Board member since March 2016, CEO of Observe, Inc. since November 2018. | |
Kelly A. Kramer Board | Board Member | Board Member at Gilead Sciences, Inc. and Coinbase Global, Inc. | Board member since January 2020, previously EVP and CFO at Cisco Systems, Inc.. | |
Mark D. McLaughlin Board | Board Member | Chairman of Qualcomm, Inc., Director at Snorkel.AI and Rubrik, Inc. | Board member since April 2023, former CEO and Chairman of Palo Alto Networks. | |
Mark S. Garrett Board | Board Member | Board Member at GoDaddy Inc. and Cisco Systems, Inc. | Board member since April 2018, former EVP and CFO of Adobe Systems Incorporated. | |
Michael L. Speiser Board | Lead Independent Director | Managing Director at Sutter Hill Ventures | Founding board member since July 2012, served as part-time CEO and CFO until June 2014. | |
Teresa Briggs Board | Board Member | Board Member at ServiceNow, Inc., DocuSign, Inc., and Warby Parker | Board member since December 2019, previously held leadership roles at Deloitte LLP. |
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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?
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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?
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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?
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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?
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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?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Datavolo, Inc. | 2024 | Snowflake acquired Datavolo for approximately $170 million using a mix of common stock and cash, primarily to bolster its connectivity platform with over 100 new data connectors and enhanced AI capabilities, with certain employee shares subject to a four‐year vesting schedule. |
Night Shift Development, Inc. | 2024 | Completed on September 18, 2024, the acquisition of Night Shift involved issuing 67,975 shares (valued at $8.2 million) to support Snowflake’s expansion into the U.S. public sector and national security markets, though some shares may be forfeited upon triggering certain events. |
Samooha, Inc. | 2023 | Acquired on December 20, 2023 for a preliminary purchase consideration of $219 million (combining cash, equity, and a previously held equity interest), this deal was driven by Samooha’s cutting‐edge data clean room technology and talent, with part of the equity issued to employees vesting over four years. |
Neeva Inc. | 2023 | Completed on May 26, 2023, Neeva was acquired for approximately $185.4 million in cash to gain its innovative search technology powered by language models, with the deal’s structure also allocating amounts for goodwill and intangible assets. |
Mountain US Corporation | 2023 | Acquired on February 10, 2023 for approximately $76.3 million in cash, Mountain US Corporation (formerly Mobilize.Net) was targeted for its tools that facilitate database migrations to the Data Cloud, with the purchase including allocations for cash, goodwill, a developed technology intangible asset, and certain liabilities. |
LeapYear Technologies, Inc. | 2023 | On February 10, 2023, LeapYear was acquired for roughly $62.0 million in cash to integrate its differential privacy platform and talent, with the allocation comprising significant amounts for a developed technology intangible asset, goodwill, and other related liabilities. |
Applica Sp. z.o.o. | 2022 | The acquisition of Applica on September 23, 2022 involved a $174.7 million cash purchase to secure an AI platform for document understanding (backed by a 95-engineer team based in Warsaw), with the deal structured to include substantial allocations for goodwill and a developed technology intangible asset. |
Streamlit, Inc. | 2022 | Completed on March 31, 2022, Snowflake acquired Streamlit for a total of $650.8 million (comprising $211.8 million in cash and 1.9 million shares of its stock, plus additional founder shares subject to vesting), primarily to integrate Streamlit’s open-source data application framework and vibrant developer community, resulting in significant goodwill and intangible asset recognition. |
No recent press releases or 8-K filings found for SNOW.