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.
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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?