Snowflake Inc. · NYSE:SNOW

Snowflake — Investor Day (June 2024)

60 slides from Snowflake's investor day presentation, Jun 4, 2024

Slide 2: Safe Harbor
Safe Harbor Other than statements of historical fact, all statements contained in this presentation and accompanying oral Moreover, we operate in a very competitive and rapidly changing environment, and new risks may emerge from time commentary (collectively, the “Materials”) are forward-looking sta
Slide 3: Agenda
AGENDA Growth Opportunity Sridhar Ramaswamy | Chief Executive Officer Accelerating Product Delivery Christian Kleinerman | EVP of Product Customer Q&A with ExxonMobil Chris Degnan | Chief Revenue Officer Andrew Curry | Manager of the Central Data Office, ExxonMobil Investing for Efficient Growth Mik
Slide 6: A Unified Cohesive Product
A Unified Cohesive Product APPLICATIONS + DISTRIBUTION Cortex AI Document Universal Snowflake AI Search Copilot COLLABORATION ENTERPRISE AI Snowflake Snowflake Snowpark Stream Horizon Native App DATA ENGINE Snowpark Sharing Dynamic External Containers Tables Tables Hybrid Iceberg Streamlit in Tables
Slide 12: Cortex AI and Snowflake Copilot
Cortex AI Universal Snowflake Search Copilot Document AI Hybrid Tables External Streamlit in Snowflake Tables Snowflake Horizon Native Apps Snowpark Iceberg Snowpipe Tables Streaming Snowpark Sharing Containers Dynamic Tables © 2024 Snowflake Inc. All Rights Reserved
Slide 13: Applications + Distribution, Collaboration
APPLICATIONS + DISTRIBUTION COLLABORATION ENTERPRISE AI Snowpark Snowpipe Snowflake Native Apps DATA ENGINE Sharing Hybrid Iceberg Document External Universal Streamlit Dynamic AI AIin Snowpark Tables Snowflake Cortex Streaming Horizon Tables Search Snowflake Containers Copilot © 2024 Snowflake Inc.
Slide 14: Why We Win
Capturing Value Why We Win Public Cloud Services Estimated Spend $2.3T ● Unified Platform ● Application + Distribution Platform ● Multi-Cloud $0.4T FY23 FY33 Note: Fiscal year ends January 31. 1. Amounts calculated based on Snowflake’s internal estimates and forecasts. © 2024 Snowflake Inc. All Righ
Slide 17: Acquisition Strategy
Acquisition Strategy Data Clean Room Technology Data Science Libraries / Generative AI Based Search Time Series Forecasting Acquihire Pragmatists Acquihire LLM Based Document Understanding Enabling Snowflake Migrations Acquihire App Development Differential Privacy Platform ML/LLM Observability FY22
Slide 18: Strong Leadership Team
Strong Leadership Team Benoit Mike Chris Dageville Scarpelli Degnan Co-Founder & Chief Financial Chief Revenue President of Product Officer Officer Denise Christian Greg Persson Kleinerman Czajkowski Chief Marketing EVP of Product EVP of Engineering Officer and Support © 2024 Snowflake Inc. All Righ
Slide 20: Accelerating Delivery
Accelerating Delivery Cortex AI Unistore Arctic Snowflake Horizon Dynamic Tables Iceberg Tables Native Apps Notebooks Unstructured FedRamp Data Document AI Snowpark Containers Streamlit in AWS Multi-Cluster Snowpipe Materialized Replication External Tables Search Optimization Snowpark Snowflake Ware
Slide 21: What Enables Faster Product Delivery?
What Enables Faster Product Delivery? Foundational Extensible Ultimate Pragmatic Infrastructure Platform Flexibility Approach © 2024 Snowflake Inc. All Rights Reserved
Slide 22: Product Scorecard: Availability, Adoption, Growth Contribution
Unstructured Iceberg Snowpark Streamlit in Snowpark Cortex AI Data Tables Native Apps Containers Snowflake Unistore Step 1: General Availability GA Date: FY23 FY25 FY23 FY25 FY24 FY25 FY24 FY25 Step 2: Adoption1 Step 3: Anticipated Growth FY25 FY25 FY25 FY26 FY26 FY26 FY26 FY27 Contribution Note: Sc
Slide 23: Adoption of Snowpark
Unstructured Iceberg Snowpark Streamlit in Snowpark Cortex AI Data Tables Native Apps Containers Snowflake Unistore Adoption of Snowpark (Percent of Customers1) 50% 40% 30% 20% 10% 0% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Note: Fiscal year ends January 31; Adoption
Slide 24: Tailwinds for Adoption
Unstructured Iceberg Snowpark Streamlit in Snowpark Cortex AI Data Tables Native Apps Containers Snowflake Unistore Tailwinds for Adoption Notebooks Iceberg Tables Easier Migrations Why? Why? Why? End user More Decrease time and preference data cost to adopt © 2024 Snowflake Inc. All Rights Reserved
Slide 25: Easy Generative AI, with Cortex AI
Unstructured Iceberg Snowpark Streamlit in Snowpark Cortex AI Data Tables Native Apps Containers Snowflake Unistore Easy Generative AI, with Cortex AI Build AI apps, securely fine-tuned on your data, all unified in Snowflake Snowflake Copilot Document AI GA SOON GA SOON Cortex AI ML Snowflake Studio
Slide 26: Tailwinds for Adoption: Document AI
Unstructured Iceberg Snowpark Streamlit in Snowpark Cortex AI Data Tables Native Apps Containers Snowflake Unistore Tailwinds for Adoption File Processors Easier Ingest Document AI Why? Why? More data More use cases © 2024 Snowflake Inc. All Rights Reserved
Slide 27: Iceberg gives us access to more data
Unstructured Iceberg Snowpark Streamlit in Snowpark Cortex AI Data Tables Native Apps Containers Snowflake Unistore Iceberg gives us access to more data Customer Data Estate Customer Data Estate Cloud Storage Snowflake DB Snowflake DB + Iceberg Tables © 2024 Snowflake Inc. All Rights Reserved
Slide 28: Snowflake Native App Framework
Unstructured Iceberg Snowpark Streamlit in Snowpark Cortex AI Data Tables Native Apps Containers Snowflake Unistore Snowflake Native App Framework Description ●Build apps for the AI Data Cloud ●Distribute and monetize on Snowflake Marketplace ●Install apps in consumer’s Snowflake accounts Benefits f
Slide 29: How? Who? What?
Unstructured Iceberg Snowpark Streamlit in Snowpark Cortex AI Data Tables Native Apps Containers Snowflake Unistore How? Who? What? End Customer Native App Automated business data products Snowpark Containers Transform and model data within CN’s Snowflake account Structured Data ERP & IoT Data © 202
Slide 31: Streamlit: Data Experiences in the AI Data Cloud
Unstructured Iceberg Snowpark Streamlit in Snowpark Cortex AI Data Tables Native Apps Containers Snowflake Unistore Streamlit: Data Experiences in the AI Data Cloud Build faster Code directly in Python and rapidly prototype and deploy experiences. Productize AI Turn data and AI / ML models into inte
Slide 32: Adoption of Streamlit in Snowflake
Unstructured Iceberg Snowpark Streamlit in Snowpark Cortex AI Data Tables Native Apps Containers Snowflake Unistore Adoption of Streamlit in Snowflake (Percent of Customers1) 15% 12% 9% 6% 3% 0% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Note: Fiscal year ends January 31
Slide 33: Unistore Eliminates Need for Transactional Store
Unstructured Iceberg Snowpark Streamlit in Snowpark Cortex AI Data Tables Native Apps Containers Snowflake Unistore Unistore Eliminates Need for Transactional Store for Key Use Cases A Financial Services Customer 3rd Party Data Provider E-App Lead Providers Snowflake Data Sharing API Calls Call Cent
Slide 38: Large and Growing Market
Large and Growing Market Snowflake Platform TAM ($ Billions) $342 +2x $152 CY23 CY24 CY25 CY26 CY27 CY28 Note: Calendar year ends December 31. Charts/graphics created by Snowflake based on Gartner research. Source: Gartner, Forecast: Enterprise Infrastructure Software, Worldwide, 2022-2028, 1Q24 Upd
Slide 39: Potential for Snowflake Spend Has Increased
Potential for Snowflake Spend Has Increased Average Trailing Twelve Month Product Revenue1 for Largest Customers ($ Millions) Top 25 Product Revenue Customers1 $21.9 $18.0 $12.0 FY22 FY23 FY24 Note: Fiscal year ends January 31. 1. See definitions provided in the Appendix. © 2024 Snowflake Inc. All R
Slide 40: Significant Expansion Opportunity
Significant Expansion Opportunity Average Trailing Twelve Month Product Revenue1 for Largest Customers ($ Millions) Forbes Global 2000 Customers1 $1M+ Product Revenue Customers1 $21.9 Top 25 Product Revenue Customers1 $18.0 $12.0 $3.5 $3.7 $3.7 $1.2 $1.6 $0.8 FY22 FY23 FY24 Note: Fiscal year ends Ja
Slide 43: Land & Expand
Land & Expand Total Customers1 Net Revenue Retention Rate1 9,455 FY22 FY23 FY24 7,729 179% 158% 131% 5,785 FY22 FY23 FY24 Note: Fiscal year ends January 31. 1. See definitions provided in the Appendix. © 2024 Snowflake Inc. All Rights Reserved
Slide 44: Land & Expand
Land & Expand Forbes Global 2000 Customers1 Forbes Global 2000 Customers Net Revenue Retention Rate1 FY22 FY23 FY24 694 642 539 180% 170% 134% FY22 FY23 FY24 Note: Fiscal year ends January 31 1. See definitions provided in the Appendix. © 2024 Snowflake Inc. All Rights Reserved
Slide 46: Sales Compensation Incentivizes Lands
Sales Compensation Incentivizes Lands Target Commissions1 Mix (%) FY21 FY22 FY23 FY24 FY25 Consumption Growth New Business Note: Fiscal year ends January 31 1. See definitions provided in the Appendix. © 2024 Snowflake Inc. All Rights Reserved
Slide 47: Migrations Drive Expansion Today
Migrations Drive Expansion Today A Global 2000 Financial Services Customer Product Revenue1 ($ Millions) 4 Migrations 4x Product Revenue $5.9 $2.9 $1.5 FY22 FY23 FY24 Note: Fiscal year ends January 31 1. See definitions provided in the Appendix. © 2024 Snowflake Inc. All Rights Reserved
Slide 48: Migrations Drive Expansion Today
Migrations Drive Expansion Today A Telecom Customer Product Revenue1 ($ Millions) 3 Migrations +8x Product Revenue $19.3 $5.7 $2.3 FY22 FY23 FY24 Note: Fiscal year ends January 31. 1. See definitions provided in the Appendix. © 2024 Snowflake Inc. All Rights Reserved
Slide 49: New Features Can Drive Expansion Tomorrow
New Features Can Drive Expansion Tomorrow A Financial Services Customer Consumption1 ($ Millions) $3.0 $2.5 $2.0 $1.5 $1.0 $1.6 $1.3 $0.5 $0.0 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Other Product Consumption Snowpark Consumption Note: Fiscal year ends January 31. 1.
Slide 51: Queries Have Varying Impact on Revenue
Queries Have Varying Impact on Revenue IMPACT ON QUERY GROWTH REVENUE / QUERY1 Higher Price per Credit Neutral Product Efficiency Performance Improvements Neutral Optimizations Neutral Different Types of Queries Heavy Queries Light Queries 1. Estimated based on the Consumption of credits. © 2024 Sno
Slide 52: Predictable Margins in Core Business
Predictable Margins in Core Business FY22 FY23 FY24 FY25 Guidance 68% 68% Non-GAAP 74% 75% 78% 75% Product Gross Margin1 Non-GAAP (3%) 5% 8% 3% Operating Margin1 Non-GAAP 12% 25% 29% 26% Adjusted Free Cash Flow1 Note: Green Illustrative Note: Fiscal year ends January 31. 1. Please see the Appendix f
Slide 53: Framework for Enterprise AI Investments
Framework for Enterprise AI Investments FY25 Guidance Long-Term 0% Product Revenue1 $0 Revenue Contribution Negative Non-GAAP Product Gross Margin2 Negative Impact Opportunity for Efficiencies Non-GAAP Operating Margin2 Negative Impact Meaningful Revenue Generation Within 2 Years Note: Red illustrat
Slide 54: Capital Allocation
Capital Allocation Stock Organic Repurchase Cash Growth Program M&A Management R&D and S&M $892M remaining of Acquisitions to >4% interest income investment $2B authorization accelerate product roadmap ~80% of billings paid annually in advance © 2024 Snowflake Inc. All Rights Reserved
Slide 57: Statement Regarding Use of Non-GAAP Financial Measures
Statement Regarding Use of Non-GAAP Financial Measures This presentation also includes certain non-GAAP financial measures, which have not been prepared in accordance with generally accepted accounting principles in the United States (GAAP). These non-GAAP financial measures are in addition to, and
Slide 58: Definitions
Definitions Consumption: Consumption is estimated based on customer consumption of our platform during each fiscal period as measured at the applicable contractual price, and includes consumption by both capacity and on-demand customers. Customers Over $1M Product Revenue or $1M+ Product Revenue Cus
Slide 59: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Product Gross Profit, Operating Income (Loss), Free Cash Flow and Adjusted Free Cash Flow Note: Fiscal year ends January 31. Numbers are in thousands, except percentages. Numbers are rounded for presentation purposes. © 2024 Snowflake Inc. All Rights Reserved

Snowflake — Investor Day (June 2024) on 6ix

Snowflake — Investor Day (June 2024)

Slide 1: Snowflake Investor Day 2024

Slide 2: Safe Harbor

Slide 3: Agenda

Slide 4: Growth Opportunity

Slide 5: Product Go-to-market

Slide 6: A Unified Cohesive Product

Slide 7: Core Opportunity

Slide 8: New Opportunities

Slide 9: New Opportunities

Slide 10: New Opportunities

Slide 11: New Opportunities

Slide 12: Cortex AI and Snowflake Copilot

Slide 13: Applications + Distribution, Collaboration

Slide 14: Why We Win

Slide 15: How We Operationalize

Slide 16: Snowflake: The Nervous System for Enterprises Globally

Slide 17: Acquisition Strategy

Slide 18: Strong Leadership Team

Slide 19: Accelerating Product Delivery

Slide 20: Accelerating Delivery

Slide 21: What Enables Faster Product Delivery?

Slide 22: Product Scorecard: Availability, Adoption, Growth Contribution

Slide 23: Adoption of Snowpark

Slide 24: Tailwinds for Adoption

Slide 25: Easy Generative AI, with Cortex AI

Slide 26: Tailwinds for Adoption: Document AI

Slide 27: Iceberg gives us access to more data

Slide 28: Snowflake Native App Framework

Slide 29: How? Who? What?

Slide 30: Snowpark Cortex AI Unstructured

Slide 31: Streamlit: Data Experiences in the AI Data Cloud

Slide 32: Adoption of Streamlit in Snowflake

Slide 33: Unistore Eliminates Need for Transactional Store

Slide 34: Applications + Distribution, Collaboration

Slide 35: Customer Q&A with ExxonMobil

Slide 36: Investing for Efficient Growth

Slide 37: Core Opportunity

Slide 38: Large and Growing Market

Slide 39: Potential for Snowflake Spend Has Increased

Slide 40: Significant Expansion Opportunity

Slide 41: Growth Drivers

Slide 42: Land Expand

Slide 43: Land & Expand

Slide 44: Land & Expand

Slide 45: Investing for Growth

Slide 46: Sales Compensation Incentivizes Lands

Slide 47: Migrations Drive Expansion Today

Slide 48: Migrations Drive Expansion Today

Slide 49: New Features Can Drive Expansion Tomorrow

Slide 50: Financial Model

Slide 51: Queries Have Varying Impact on Revenue

Slide 52: Predictable Margins in Core Business

Slide 53: Framework for Enterprise AI Investments

Slide 54: Capital Allocation

Slide 55: Q&A

Slide 56: Appendix

Slide 57: Statement Regarding Use of Non-GAAP Financial Measures

Slide 58: Definitions

Slide 59: GAAP to Non-GAAP Reconciliations

Slide 60: Thank You