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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 | Start Date |
|---|---|---|---|---|
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. | Aug 2012 |
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. | Feb 2024 |
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.. | Aug 2018 |
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. | Aug 2019 |
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. | Feb 2024 |
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. | Dec 2019 |
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. | Jun 2020 |
Jeremy Burton Board | Board Member | CEO of Observe, Inc. | Board member since March 2016, CEO of Observe, Inc. since November 2018. | Mar 2016 |
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.. | Jan 2020 |
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. | Apr 2023 |
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. | Apr 2018 |
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. | Dec 2019 |
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. | Dec 2019 |
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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. |
Recent developments and announcements about SNOW.
Earnings
New Earnings (Q4 2025)
·Feb 27, 2025, 8:24 PMView full earnings summary →Snowflake projects accelerating product revenue growth in 2H FY26, with net revenue retention stable in the mid-120s. Large customers are exceeding contracted capacity, and the number of $1M, $5M, and $10M accounts continues to climb, signaling robust demand.
8-K Filings
8-K Filing
·Feb 26, 2025, 10:17 PMLeadership ChangesView full 8-K filing →On March 4, 2025, Snowflake announced that Chief Revenue Officer Christopher W. Degnan will step down, with Michael Gannon slated to assume the role effective March 14, 2025. Gannon brings extensive leadership experience from Broadcom and VMware.