Snowflake Inc

Snowflake Inc NYSE
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Upcoming Earnings
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Important events

Mar 032022

The Snowflake melts

The pristine white pre-earnings bliss melts away to reveal the sludge of Snowflake’s Q4, and investors would rather stay indoors.

Key points:

  • Snowflake shares sank 30% in extended trading on Wednesday after the data-analytics software company reported losses per share of $0.43 (wider than the $0.03 expected) on revenues of $383.8m – even with growth of 101% y-o-y, it was still the company’s slowest revenue growth since 2019.
  • There was good news and bad news. The good news is that Snowflake now has over 6k customers, its margins came in nice and fat at 70%, and it’s getting a lot of repeat business with net revenue retention at 178%.
  • But on the downside, the brand's days of triple digit revenue growth are over, forecasting product revenue would grow only 67% for the full year. Snowflake said that improvements to data storage and analysis products will mean customers pay less for the same thing, hurting short term revenue but ultimately bringing in clients.
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Victor Serban / Unsplash
Dec 022021

No business like Snow business

It’s a snow day celebration as the data analytics company releases some sparkly Q3 earnings.

  • Prices jumped 13% after-hours following a Q3 earnings report that beat on both ends.
  • It has yet to reach profitability though, after hitting the public market with the biggest software IPO ever in October last year.
  • Revenue was up 110% to reach $334.4m, while losses per share of $0.51 beat estimates of $0.60.
  • Its net-revenue retention rate was 173%, which refers to how many customers are sticking around over time. It’s an important metric for investors when looking at young software companies without profitability.
  • It has $1.8bn still to come from contracts that have been agreed but not realized yet.
  • Guidance was the cherry on top, with Q4 revenue expected to come in at up to $350m, representing y-o-y growth of up to 96%.
Jonathan Knepper / Unsplash