Snowflake cloud data revenues rise 110% to $334 million

Snowflake, which offers a cloud data platform, reported revenue of $334.4 million for its third quarter of 2021, representing 110% year-over-year growth. 

Product revenue, which is primarily derived from the consumption of compute, storage, and data transfer resources, for the quarter was $312.5 million, representing 110% year-over-year growth. Remaining performance obligations were $1.8 billion, representing 94% year-over-year growth. Net revenue retention rate was 173% as of October 31, 2021. The company now has 5,416 total customers and 148 customers with trailing 12-month product revenue greater than $1 million. See the section titled “Key Business Metrics” for definitions of product revenue, remaining performance obligations, net revenue retention rate, total customers, and customers with trailing 12-month product revenue greater than $1 million.

“Snowflake saw momentum accelerate in Q3, with product revenue growing 110% year-on-year to $312.5 million. Continued international expansion during the quarter resulted in product revenue from the EMEA and APJ regions up 174% and 219% year-on-year, respectively,” said Frank Slootman, Chairman and CEO, Snowflake. “Our vertical industry focus is an important evolution of our selling motion and Snowflake continues to see broad industry adoption.”

https://investors.snowflake.com/overview/default.aspx

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Snowflake clocks Q2 revenue of $272.2 million, up 104% yoy

Snowflake, which provides data cloud services reported revenue of $272.2 million for its second quarter of fiscal 2022, ended July 31, 2021. This represents 104% year-over-year growth. 

Product revenue for the quarter was $254.6 million, representing 103% year-over-year growth. Remaining performance obligations were $1.5 billion, representing 122% year-over-year growth. Net revenue retention rate was 169% as of July 31, 2021. The company now has 4,990 total customers and 116 customers with trailing 12-month product revenue greater than $1 million. 

“Snowflake saw continued momentum in Q2 with triple-digit growth in product revenue, reflecting strength in customer consumption,” said Snowflake Chairman and CEO Frank Slootman. “While increasing net revenue retention rate to 169%, we also boosted gross margin and operating margin efficiency while our adjusted free cash flow was positive for the third quarter in a row.”

Snowflake's customers use the Data Cloud to unite siloed data, discover and securely share data, and execute diverse analytic workloads.

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Snowflake reports sales of $229 million, up 110% yoy

Snowflake, which offers a cloud service for uniting siloed data and executing diverse analytic workloads, reported quarterly revenue of $228.9 million, representing 110% year-over-year growth. 

Product revenue for the quarter was $213.8 million, representing 110% year-over-year growth. Remaining performance obligations were $1.4 billion, representing 206% year-over-year growth. Net revenue retention rate was 168% as of April 30, 2021. 

Snowflake now has 4,532 total customers and 104 customers with trailing 12-month product revenue greater than $1 million.

“Snowflake reported strong Q1 results with triple-digit growth in product revenue, reflecting strength in customer consumption,” said Snowflake CEO Frank Slootman. “Remaining performance obligations showed a robust increase year-on-year, indicating strength in sales across the board.”

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Snowflake files for IPO - cloud data warehousing

Snowflake, a start-up based in San Mateo, California, filed papers with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its Class A common stock.

Snowflake is known for its cloud data platform.

Snowflake intends to list its Class A common stock on the New York Stock Exchange under the ticker symbol “SNOW”.

Snowflake lands $479M for its cloud data platform

Monday, February 10, 2020  Snowflake  

Snowflake, a start-up based in San Mateo, California, announced $479 million in new funding for its cloud data platform.

Snowflake’s cloud data platform supports a multi-cloud strategy, including availability on AWS, Azure and Google Cloud Platform. Snowflake offers a common and interchangeable code base that delivers advantages such as global data replication, which means you can move your data to any cloud in any region, without having to re-code your applications.

Since its general release in mid-2015, Snowflake has gained 3,400 customers, including recent customers include Accor, Brex, CONA Services, ConAgra Foods, Domino's Pizza Enterprises Limited, JetBlue, and Nationwide.

The new funding was co-led by new investors, Dragoneer Investment Group and Salesforce Ventures. Existing Snowflake investors, including Altimeter Capital, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Sequoia, and Sutter Hill Ventures, are also participating in the round. This funding round raises Snowflake's post-money valuation to over $12.4 billion. T

“We look forward to Dragoneer’s experience and insights as we continue to serve our customers and grow our business,” Snowflake CEO, Frank Slootman said. “We also welcome our partnership with Salesforce and look forward to the positive impact our technologies and services will deliver to our customers and the broader market.”

Snowflake adds $450 million in funding for data warehousing

Thursday, October 11, 2018  Data Warehousing, Snowflake  

Snowflake Computing, a start-up based in San Mateo, California, closed $450 million in additional growth funding led by Sequoia Capital and including existing investors: Altimeter Capital, Capital One Growth Ventures, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Sutter Hill Ventures and Wing Ventures. New investor Meritech Capital also joined this round, which raises Snowflake’s pre-money valuation to $3.5 billion.

Earlier this year, Snowflake announced $263 million new venture funding in a round led by ICONIQ Capital, Altimeter Capital and newcomer Sequoia Capital.

This second round brings Snowflake’s total amount raised to $923 million.

Snowflake is headed by Bob Muglia, who previously was president of Microsoft’s $16 billion Server and Tools Business, responsible for products such as Windows Server, SQL Server, System Center and Windows Azure. Snowflake recently announced its availability on Microsoft Azure and its continued support for Amazon Web Services (AWS).

Snowflake has offered data warehousing services since 2015. It claims 1,000 active customers, including Netflix, Office Depot, DoorDash, Netgear, Ebates and Yamaha.

“Learning to be data-driven is an imperative for every organization today, and a data-driven organization must be in control of its data,” Snowflake CEO Bob Muglia said. “Snowflake is the most powerful data warehouse in the world for analytics solutions. That power delivers the security, control and business answers needed to enable data-driven organizations. This is driving spectacular growth for our company, and this latest funding round will provide Snowflake with the resources we need to serve our rapidly growing set of new and existing customers around the world.”

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Snowflake lands $479M for its cloud data platform

Snowflake, a start-up based in San Mateo, California, announced $479 million in new funding for its cloud data platform.

Snowflake’s cloud data platform supports a multi-cloud strategy, including availability on AWS, Azure and Google Cloud Platform. Snowflake offers a common and interchangeable code base that delivers advantages such as global data replication, which means you can move your data to any cloud in any region, without having to re-code your applications. 

Since its general release in mid-2015, Snowflake has gained 3,400 customers, including recent customers include Accor, Brex, CONA Services, ConAgra Foods, Domino's Pizza Enterprises Limited, JetBlue, and Nationwide.

The new funding was co-led by new investors, Dragoneer Investment Group and Salesforce Ventures. Existing Snowflake investors, including Altimeter Capital, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Sequoia, and Sutter Hill Ventures, are also participating in the round. This funding round raises Snowflake's post-money valuation to over $12.4 billion. T

“We look forward to Dragoneer’s experience and insights as we continue to serve our customers and grow our business,” Snowflake CEO, Frank Slootman said. “We also welcome our partnership with Salesforce and look forward to the positive impact our technologies and services will deliver to our customers and the broader market.”

Snowflake adds $450 million in funding for data warehousing

Thursday, October 11, 2018  Data Warehousing, Snowflake  

Snowflake Computing, a start-up based in San Mateo, California, closed $450 million in additional growth funding led by Sequoia Capital and including existing investors: Altimeter Capital, Capital One Growth Ventures, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Sutter Hill Ventures and Wing Ventures. New investor Meritech Capital also joined this round, which raises Snowflake’s pre-money valuation to $3.5 billion.

Earlier this year, Snowflake announced $263 million new venture funding in a round led by ICONIQ Capital, Altimeter Capital and newcomer Sequoia Capital.

This second round brings Snowflake’s total amount raised to $923 million.

Snowflake is headed by Bob Muglia, who previously was president of Microsoft’s $16 billion Server and Tools Business, responsible for products such as Windows Server, SQL Server, System Center and Windows Azure. Snowflake recently announced its availability on Microsoft Azure and its continued support for Amazon Web Services (AWS).

Snowflake has offered data warehousing services since 2015. It claims 1,000 active customers, including Netflix, Office Depot, DoorDash, Netgear, Ebates and Yamaha.

“Learning to be data-driven is an imperative for every organization today, and a data-driven organization must be in control of its data,” Snowflake CEO Bob Muglia said. “Snowflake is the most powerful data warehouse in the world for analytics solutions. That power delivers the security, control and business answers needed to enable data-driven organizations. This is driving spectacular growth for our company, and this latest funding round will provide Snowflake with the resources we need to serve our rapidly growing set of new and existing customers around the world.”

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Snowflake adds $450 million in funding for data warehousing

Snowflake Computing, a start-up based in San Mateo, California, closed $450 million in additional growth funding led by Sequoia Capital and including existing investors: Altimeter Capital, Capital One Growth Ventures, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Sutter Hill Ventures and Wing Ventures. New investor Meritech Capital also joined this round, which raises Snowflake’s pre-money valuation to $3.5 billion.

Earlier this year, Snowflake announced $263 million new venture funding in a round led by ICONIQ Capital, Altimeter Capital and newcomer Sequoia Capital.

This second round brings Snowflake’s total amount raised to $923 million.

Snowflake is headed by Bob Muglia, who previously was president of Microsoft’s $16 billion Server and Tools Business, responsible for products such as Windows Server, SQL Server, System Center and Windows Azure. Snowflake recently announced its availability on Microsoft Azure and its continued support for Amazon Web Services (AWS).

Snowflake has offered data warehousing services since 2015. It claims 1,000 active customers, including Netflix, Office Depot, DoorDash, Netgear, Ebates and Yamaha.

“Learning to be data-driven is an imperative for every organization today, and a data-driven organization must be in control of its data,” Snowflake CEO Bob Muglia said. “Snowflake is the most powerful data warehouse in the world for analytics solutions. That power delivers the security, control and business answers needed to enable data-driven organizations. This is driving spectacular growth for our company, and this latest funding round will provide Snowflake with the resources we need to serve our rapidly growing set of new and existing customers around the world.”

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