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    Snowflake Inc (SNOW)

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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.

    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.
    NamePositionStart DateShort Bio
    Sridhar RamaswamyChief Executive Officer and DirectorFebruary 27, 2024Sridhar Ramaswamy has been serving as the Chief Executive Officer and a member of the board of directors at Snowflake Inc. since February 27, 2024. He previously held various positions at Snowflake, including Senior Vice President of Artificial Intelligence. Before joining Snowflake, he was a Venture Partner at Greylock Partners and CEO of Neeva Inc..
    Michael P. ScarpelliChief Financial OfficerAugust 2019Michael P. Scarpelli has served as the Chief Financial Officer of Snowflake Inc. since August 2019. Prior to joining Snowflake, he was the CFO of ServiceNow, Inc. and held senior roles at EMC Corporation and Data Domain Corporation.
    Benoit DagevillePresident of Products and DirectorAugust 2012Benoit Dageville is one of the co-founders of Snowflake Inc. and has served as a member of the board of directors since August 2012. He currently holds the position of President of Products. Before founding Snowflake, he worked in various engineering roles at Oracle Corporation.
    Christopher W. DegnanChief Revenue OfficerAugust 2018Christopher W. Degnan has served as the Chief Revenue Officer of Snowflake Inc. since August 2018. Prior to this role, he was the VP of Sales and Director of Sales at Snowflake. Before joining Snowflake, he held various sales leadership roles at EMC Corporation and Aveksa, Inc..
    Christian KleinermanEVP, Product ManagementFebruary 2024Christian Kleinerman has served as Executive Vice President (EVP), Product Management at Snowflake Inc. since February 2024. Prior to this role, he was Senior Vice President (SVP) of Product and Vice President (VP) of Product at Snowflake. Before joining Snowflake, he held various product management roles at Google.
    Grzegorz CzajkowskiEVP, Engineering and SupportFebruary 2024Grzegorz Czajkowski served as EVP, Engineering and Support at Snowflake starting in February 2024. He initially joined Snowflake as SVP, Engineering and Support in June 2019. Before Snowflake, he held various roles at Google, including VP Engineering.
    Thierry CruanesInterim Manager of Engineering and SupportJuly 19, 2024Thierry Cruanes is the Co-Founder of Snowflake Inc. and currently serves as the Interim Manager of Engineering and Support Teams following the resignation of Grzegorz Czajkowski on July 19, 2024. He has been with Snowflake since its inception.
    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.