Slide 1: Investor Presentation Fourth Quarter Fiscal 2022
Investor Presentation Fourth Quarter Fiscal 2022 © 2022 Snowflake Inc. All Rights Reserved.
Slide 2: Safe Harbor and Statement Regarding Use of Non-GAAP Financial Measures
Safe Harbor and Statement Regarding Use of Non-GAAP Financial Measures Other than statements of historical fact, all information contained in this presentation, including statements regarding our This presentation also includes certain non-GAAP financial measures, which have not been prepared in acc
Slide 3: Rise of the Data Cloud and Beyond
RISE OF THE 2014 2019 2020 AND DATA CLOUD BEYOND © 2022 Snowflake Inc. All Rights Reserved. 2
Slide 4: A Cloud Native Architecture Is Required
A CLOUD NATIVE ARCHITECTURE IS REQUIRED © 2022 Snowflake Inc. All Rights Reserved. 3
Slide 5: Snowflake's Architecture
SNOWFLAKE’S ARCHITECTURE © 2022 Snowflake Inc. All Rights Reserved. 4
Slide 6: Snowflake's Platform
SNOWFLAKE’S PLATFORM © 2022 Snowflake Inc. All Rights Reserved. 5
Slide 7: Data Cloud Growing Market Opportunity
GROWING MARKET OPPORTUNITY DATA WAREHOUSE DATA CLOUD DATA $14B PLATFORM1 CLOUD ~$90B 1 Based on the Company's own estimates for the market opportunity of our Cloud Data Platform as of April 30, 2021. Graphic is illustrative. © 2022 Snowflake Inc. All Rights Reserved. 6
Slide 8: Ever Expanding Ecosystem
EVER EXPANDING ECOSYSTEM © 2022 Snowflake Inc. All Rights Reserved 7
Slide 9: Q4 Financial Highlights
Q4 FINANCIAL HIGHLIGHTS Rapid Growth at Scale 102% YOY PRODUCT REVENUE GROWTH Significant Expansion with Existing Customers 178% NET REVENUE RETENTION Strong Large Customer Momentum 184 $1M+ PRODUCT REVENUE CUSTOMERS Improving Product Gross Margin 75% NON-GAAP PRODUCT GROSS MARGIN © 2022 Snowflake I
Slide 10: We Are Not a SaaS Model
WE ARE NOT A SAAS MODEL 93% of revenue is consumption-based1 Revenue recognized only as consumption occurs In many cases, rollover of unused capacity permitted, generally on the purchase of additional capacity Contract durations increasing along with larger customer commitments Primarily billed annu
Slide 11: We Focus on Product Revenue and RPO
WE FOCUS ON PRODUCT REVENUE AND RPO Product Revenue Remaining Performance Billings Obligations (RPO) Why it matters: Why it matters: Why it’s less relevant: Substantial majority of our revenue Represents contracted future revenue Billings reflect the timing of the cash flows not yet recognized negot
Slide 12: Strong Combination of Scale & Growth
STRONG COMBINATION OF SCALE & GROWTH ANNUAL REVENUE (MILLIONS) QUARTERLY REVENUE (MILLIONS) 106% 101% YOY Growth $1,219 YOY Growth $384 $79 $334 $24 $272 $22 $229 $18 $592 $190 $15 $1,140 $360 $38 $12 $312 $255 $214 $554 $178 FY21 FY22 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Product Revenue Professi
Slide 13: Significant Customer Commitments
SIGNIFICANT CUSTOMER COMMITMENTS REMAINING PERFORMANCE OBLIGATIONS1 (MILLIONS) $2,646 $1,804 $1,529 $1,432 $1,333 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes. 1 Represents the amount of contracted future revenue that has no
Slide 14: Large Customer Momentum
LARGE CUSTOMER MOMENTUM TOTAL CUSTOMERS¹ CUSTOMERS OVER $1M PRODUCT REVENUE2 44% 139% YOY Growth YOY Growth 184 5,944 5,416 4,990 148 4,532 4,139 116 104 77 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Note: Fiscal year ends January 31. 1 We count the total number
Slide 15: Landing Strategic Customers
LANDING STRATEGIC CUSTOMERS FORTUNE 500 CUSTOMERS FORBES GLOBAL 2000 CUSTOMERS 24% 21% YOY Growth YOY Growth 241 488 453 467 227 218 414 403 195 199 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Note: Our Fortune 500 customer count is based on the 2021 Fortune 500 l
Slide 16: World-Class Retention Rate
WORLD-CLASS RETENTION RATE DOLLAR-BASED NET REVENUE RETENTION RATE1 173% 178% 168% 168% 170% Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Note: Fiscal year ends January 31. 1 To calculate this metric for any given period, we first specify a measurement period consisting of the trailing two years from the
Slide 17: Improving Product Gross Margin
IMPROVING PRODUCT GROSS MARGIN NON-GAAP PRODUCT GROSS MARGIN1 74% Expansion Drivers Cloud agreement pricing 69% Product improvements Scale Enterprise customer success 63% 11 Percentage Points Non-GAAP Product Gross Margin Expansion FY20 FY21 FY22 © 2022 Snowflake Inc. All Rights Reserved. Note: Fisc
Slide 18: Operating Leverage While Investing in Growth
OPERATING LEVERAGE WHILE INVESTING IN GROWTH NON-GAAP OPERATING EXPENSES NON-GAAP ADJUSTED FREE CASH FLOW AS % OF REVENUE1 AS % OF REVENUE1 Significantly Improved Leverage Drivers Operating Leverage 12% Revenue growth (12%) 26% Economies of scale 34% Larger customer 17% relationships 23% 12% 103% 18
Slide 19: Focusing on Free Cash Flow Generation
FOCUSING ON FREE CASH FLOW GENERATION NON-GAAP FREE CASH FLOW1 & NON-GAAP ADJUSTED FREE CASH FLOW1 (MILLIONS) Free Cash Flow Adjusted Free Cash Flow $102 $71 $23 $22 $17 $13 $7 $9 $3 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 $(12) © 2022 Snowflake Inc. All Rights Reserved. Note: Fiscal year ends Janua
Slide 20: Hiring to Address Our Opportunity
HIRING TO ADDRESS OUR OPPORTUNITY EMPLOYEE HEADCOUNT BY FUNCTION 3,992 3,557 591 3,260 523 2,931 722 445 2,495 384 657 603 339 503 788 421 705 642 594 1,891 478 1,672 1,570 1,450 1,257 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 S&M R&D G&A Cost of Revenue © 2022 Snowflake Inc. All Rights Reserved. 19
Slide 21: Expanding Internationally
EXPANDING INTERNATIONALLY REVENUE MIX BY GEOGRAPHY 3% 3% 3% 4% 4% 12% 13% 14% 14% 14% 85% 84% 82% 82% 82% Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Americas EMEA APJ © 2022 Snowflake Inc. All Rights Reserved. Note: Numbers are rounded for presentation purposes. We attribute revenue to the Americas, EM
Slide 22: Fiscal 2023 Guidance
FISCAL 2023 GUIDANCE FY23 GUIDANCE % OF REVENUE FY20 FY21 FY22 MIDPOINT YOY PRODUCT REVENUE GROWTH 164% 120% 106% 66% NON-GAAP PRODUCT GROSS PROFIT1 62.8% 68.7% 74.1% 74.5% NON-GAAP OPERATING INCOME (LOSS)1 (105)% (38)% (3)% 1% NON-GAAP ADJUSTED FREE CASH FLOW1 (75)% (12)% 12% 15% Note: Fiscal year
Slide 23: Appendix
APPENDIX © 2022 Snowflake Inc. All Rights Reserved.
Slide 24: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS PRODUCT GROSS PROFIT AND SALES & MARKETING Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 FY20 FY21 FY22 Product revenue $ 178,288 $ 213,830 $ 254,623 $ 312,458 $ 359,558 $252,229 $553,794 $1,140,469 Professional service and other revenue 12,177 15,084 17,575 21,983 24,216
Slide 25: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS RESEARCH & DEVELOPMENT AND GENERAL & ADMINISTRATIVE Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 FY20 FY21 FY22 Product revenue $ 178,288 $ 213,830 $ 254,623 $ 312,458 $ 359,558 $252,229 $553,794 $1,140,469 Professional service and other revenue 12,177 15,084 17,575 21,98
Slide 26: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS OPERATING INCOME (LOSS), FREE CASH FLOW, AND ADJUSTED FREE CASH FLOW Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 FY20 FY21 FY22 Product revenue $ 178,288 $ 213,830 $ 254,623 $ 312,458 $ 359,558 $252,229 $553,794 $1,140,469 Professional service and other revenue 12,177 15
Slide 27: Footnotes and metric definitions
1. For the three and twelve months ended January 31, 2022, respectively. 2. As of January 31, 2022. Please see our Q4 FY22 earnings press release for definitions of net revenue retention rate, total customers, and customers with trailing 12-month product revenue greater than $1 million. 3. As of Jan