Slide 1: Snowflake Investor Presentation Second Quarter Fiscal 2025
SNOWFLAKE INVESTOR PRESENTATION Second Quarter Fiscal 2025 © 2024 Snowflake Inc. All Rights Reserved
Slide 2: Statement Regarding Use of Non-GAAP Financial Measures
Statement Regarding Use of Non-GAAP Financial Measures This presentation 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 not a
Slide 3: 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 st
Slide 4: Every Organization Struggles with Silos
Every Organization Struggles with Silos Finance Sales Enterprise Applications IoT Suppliers Third-Party Web/ Log Data OLTP Agencies Product Databases Usage © 2024 Snowflake Inc. All Rights Reserved 4
Slide 5: There Is No AI Strategy Without a Data Strategy
THERE IS NO AI STRATEGY WITHOUT A DATA STRATEGY © 2024 Snowflake Inc. All Rights Reserved
Slide 6: A Single Data Foundation to Eliminate Silos
A Single Data Foundation to Eliminate Silos © 2024 Snowflake Inc. All Rights Reserved 6
Slide 7: Unified Data. All Architectures.
Unified Data. All Architectures. SEMI-STRUCTURED Data Data UNSTRUCTURED STRUCTURED Warehouse Lake Data Data Mesh Lakehouse OPEN FORMATS CLOUD / ON-PREM / Fabric © 2024 Snowflake Inc. All Rights Reserved 7
Slide 8: All Workloads & Users
All Workloads & Users PYTHON ML App AL/ML Applications Engineers Developers SQL JAVA Data Engineering Collaboration Data Data Engineers Scientists Data Data Unistore Lake Warehouse SQL Business Analysts Users Workloads Users CONTAINERS SCALA © 2024 Snowflake Inc. All Rights Reserved 8
Slide 9: Universal Governance
Universal Governance SECURITY COMPLIANCE PRIVACY All Content Replication & BDR Data z Apps Models 40+ regions ACCESS INTEROPERABILITY © 2024 Snowflake Inc. All Rights Reserved 9
Slide 10: Backed by Unique Platform Architecture
Backed by Unique Platform Architecture © 2024 Snowflake Inc. All Rights Reserved 10
Slide 11: An Ever Expanding Partner Ecosystem
AN EVER EXPANDING PARTNER ECOSYSTEM © 2024 Snowflake Inc. All Rights Reserved 11
Slide 12: Proven by Thousands of Customers
PROVEN BY THOUSANDS OF CUSTOMERS © 2024 Snowflake Inc. All Rights Reserved 12
Slide 13: AI Data Cloud Growth
AI Data Cloud Growth April 2020 July 2024 * Visualization based on actual AI Data Cloud sharing activity as of April 30, 2020 and July 31, 2024 respectively. © 2024 Snowflake Inc. All Rights Reserved 13
Slide 14: Financial Overview
FINANCIAL OVERVIEW © 2024 Snowflake Inc. All Rights Reserved
Slide 15: 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 16: Q2 Financial Highlights
Q2 Financial Highlights GROWTH AT SCALE EXPANSION WITH LARGE CUSTOMER PRODUCT GROSS EXISTING CUSTOMERS MOMENTUM MARGIN 30% 127% 510 76% Y/Y Product Net Revenue $1M+ Product Non-GAAP Product Revenue Growth1 Retention Rate1 Revenue Customers1 Gross Margin2 Note: Fiscal year ends January 31. All figure
Slide 17: We Focus on Product Revenue and RPO
We Focus on Product Revenue and RPO 1 2 Product Revenue Customers typically pay Product Revenue is the leading annually in advance indicator of growth Book Bill Remaining Performance Customers’ draw Consumption Obligations (RPO) 3 down from bookings 4 patterns dictate RPO represents contracted futur
Slide 18: Our Consumption Model
Our Consumption Model Revenue Recognition Pricing Model Billings Terms Consumption Consumption Typically Upfront Snowflake recognizes the substantial The platform is priced based on Snowflake typically bills customers annually majority of its revenue as customers consumption of compute, storage, and
Slide 19: Strong Combination of Scale & Growth
Strong Combination of Scale & Growth Annual Product Revenue (Millions) Quarterly Product Revenue (Millions) 38% 30% Y/Y Growth Y/Y Growth $2,667 $829 $790 $738 $1,939 $698 $640 $1,140 FY22 FY23 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Note: Fiscal year ends January 31. Numbers are rounded for pr
Slide 20: Significant Customer Commitments
Significant Customer Commitments Remaining Performance Obligations1 (Millions) $5,175 $5,231 $4,988 $3,540 $3,699 50% 51% 50% 57% 57% Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Expect to Recognize as Revenue in the Next Twelve Months RPO Note: Fiscal year ends January 31. Numbers are rounded for presen
Slide 21: Landing Strategic Organizations
Landing Strategic Organizations Total Customers1 Forbes Global 2000 Customers1 734 736 10,249 9,809 720 9,424 698 700 8,852 8,456 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Note: Fiscal year ends January 31. 1. See definitions provided in the Appendix. © 2024 Sno
Slide 22: Adding Quality Customers
Adding Quality Customers Customers Over $1M Product Revenue1 28% Y/Y Growth 510 484 458 433 399 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Note: Fiscal year ends January 31. 1. See definitions provided in the Appendix. © 2024 Snowflake Inc. All Rights Reserved 22
Slide 23: World-Class Retention Rate
World-Class Retention Rate Net Revenue Retention Rate1 142% 135% 131% 128% 127% Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes 1. See definitions provided in the Appendix. © 2024 Snowflake Inc. All Rights Reserved 23
Slide 24: Proven Margin Expansion
Proven Margin Expansion Non-GAAP Adjusted Free Non-GAAP Product Gross Margin1 Non-GAAP Operating Margin1 Cash Flow Margin1 78% 8% 29% 25% 5% 75% 12% 74% -3% FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes 1. Please see the
Slide 25: Investing for Growth
Investing for Growth Non-GAAP Adjusted Free Non-GAAP Product Gross Margin1 Non-GAAP Operating Margin1 Cash Flow Margin1 78% 76% 13% 8% 5% 8% Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes 1. Please see the Appendix for
Slide 26: Hiring to Address our Opportunity
Hiring to Address our Opportunity Employee Headcount by Function 7,630 7,296 6,783 7,004 6,659 1,002 963 939 925 925 1,152 1,095 989 1,055 950 2,108 2,241 1,805 1,891 2,002 2,979 2,978 3,008 3,130 3,235 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 S&M R&D G&A Cost of Revenue Note: Fiscal year ends Januar
Slide 27: Global Revenue Opportunity
Global Revenue Opportunity Revenue Mix by Geography 5% 5% 5% 5% 5% 16% 15% 15% 16% 16% 79% 80% 80% 79% 79% Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Americas EMEA APJ Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes. We attribute revenue to the Americas, EMEA, and APJ r
Slide 28: AI Data Cloud Metrics
AI Data Cloud Metrics DATA SHARING1 MARKETPLACE LISTINGS1 34% 2,803 of customers1 have at ≥1 stable edge1 30% Y/Y Growth Note: All figures are as of July 31, 2024. 1. See definitions provided in the Appendix. © 2024 Snowflake Inc. All Rights Reserved 28
Slide 29: Fiscal 2025 Guidance
Fiscal 2025 Guidance FY22 FY23 FY24 FY25 Guidance Product Revenue ($M) $1,140 $1,939 $2,667 $3,356 Y/Y Product Revenue Growth 106% 70% 38% 26% Non-GAAP Product Gross Margin1 74% 75% 78% 75% Non-GAAP Operating Margin1 (3)% 5% 8% 3% Non-GAAP Adjusted Free Cash Flow Margin1 12% 25% 29% 26% Note: Fiscal
Slide 30: Appendix
APPENDIX © 2024 Snowflake Inc. All Rights Reserved
Slide 31: Definitions
Definitions Customers Over $1M Product Revenue or $1M+ Product Revenue Customers: To calculate the number of customers with trailing 12-month product revenue greater than $1 million, we count the number of customers under capacity arrangements that contributed more than $1 million in product revenue
Slide 32: GAAP to Non-GAAP Reconciliations: Product Gross Profit, S&M, R&D
GAAP to Non-GAAP Reconciliations Product Gross Profit, Sales & Marketing, Research & Development Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 FY22 FY23 FY24 Product revenue $ 640,209 $ 698,478 $ 738,090 $ 789,587 $ 829,250 $1,140,469 $ 1,938,783 $ 2,666,849 Professional services and other revenue 33,809
Slide 33: GAAP to Non-GAAP Reconciliations: General & Administrative
GAAP to Non-GAAP Reconciliations General & Administrative Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 FY22 FY23 FY24 Product revenue $ 640,209 $ 698,478 $ 738,090 $ 789,587 $ 829,250 $1,140,469 $ 1,938,783 $ 2,666,849 Professional services and other revenue 33,809 35,695 36,609 39,122 39,573 78,858 126,
Slide 34: GAAP to Non-GAAP Reconciliations: Operating Expenses and Income
GAAP to Non-GAAP Reconciliations Total Operating Expenses and Operating Income (Loss) Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 FY22 FY23 FY24 Product revenue $ 640,209 $ 698,478 $ 738,090 $ 789,587 $ 829,250 $1,140,469 $ 1,938,783 $ 2,666,849 Professional services and other revenue 33,809 35,695 36,6
Slide 35: GAAP to Non-GAAP Reconciliations: Net Income (Loss)
GAAP to Non-GAAP Reconciliations Net Income (Loss) and Net Income (Loss) Attributable to Snowflake Inc. Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 FY22 FY23 FY24 Product revenue $ 640,209 $ 698,478 $ 738,090 $ 789,587 $ 829,250 $1,140,469 $ 1,938,783 $ 2,666,849 Professional services and other revenue
Slide 36: GAAP to Non-GAAP Reconciliations: Net Income (Loss) Per Share
GAAP to Non-GAAP Reconciliations Net Income (Loss) Per Share Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 FY22 FY23 FY24 Product revenue $ 640,209 $ 698,478 $ 738,090 $ 789,587 $ 829,250 $1,140,469 $ 1,938,783 $ 2,666,849 Professional services and other revenue 33,809 35,695 36,609 39,122 39,573 78,858 1
Slide 37: GAAP to Non-GAAP Reconciliations: Free Cash Flow
GAAP to Non-GAAP Reconciliations Free Cash Flow and Adjusted Free Cash Flow Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 FY22 FY23 FY24 Product revenue $ 640,209 $ 698,478 $ 738,090 $ 789,587 $ 829,250 $1,140,469 $ 1,938,783 $ 2,666,849 Professional services and other revenue 33,809 35,695 36,609 39,122
Slide 38: As of July 31, 2024 - Q2 FY25
AS OF JULY 31, 2024 - Q2 FY25 PRODUCT REVENUE NET REVENUE TOTAL CUSTOMERS $IM+ CUSTOMERS FORBES GLOBAL 2000 SNOWFLAKE NET PROMOTER SNOWFLAKE Al DATA CLOUD IERS PLACE SCORE (NPS) MARKET! CUSTOMI LISTINGS 41 For the three months ended July 31, 2024. 2. As of July 31, 2024. Please see our Q2FY25 earnin
Slide 39: Thank You
THANK YOU © 2024 Snowflake Inc. All Rights Reserved