Snowflake Inc.
Summary
Brief Company Overview
Snowflake Inc. (NYSE:SNOW) is a data cloud company that operates a global network where thousands of organizations mobilize data with near-unlimited scale, concurrency, and performance. Snowflake’s platform is the engine that powers and provides access to the Data Cloud, creating a solution for applications, collaboration, cybersecurity, data engineering, data lake, data science, data warehousing, and unistore. Snowflake’s vision is a world with unlimited access to governed data, so every organization can tackle the challenges and opportunities of today and reveal the possibilities of tomorrow.1 The company was founded in July 2012 in San Mateo, California by three warehousing experts: Benoît Dageville, Thierry Cruanes and Marcin Żukowski. The cloud-native architecture of the company consists of three independently scalable but logically integrated layers across compute, storage, and cloud services. The platform of the company is used globally by organizations of all sizes across a broad range of industries. As of January 31, 2023, Snowflake had 7,828 total customers, increasing from 5,967 customers as of January 31, 2022.
During recent years, the company keeps achieving significant growth. For the fiscal years ended January 31, 2023, 2022, and 2021, revenue of the company was $2.1 billion, $1.2 billion, and $592.0 million, respectively, representing year-over-year growth of 69% and 106%, respectively. Snowflake's net loss was $797.5 million, $679.9 million, and $539.1 million for the fiscal years ended January 31, 2023, 2022, and 2021, respectively.
As of January 31, 2023, we had 5,884 employees operating across 33 countries. Frank Slootman is the current chairman and CEO of Snowflake. As of December, 2023, the company had 328.8 million shares outstanding. As of December, 2023, stock of the company had a 52-week price range of $202.83 to $119.27, price to sales ratio (ttm) is 24.96 times, price to book (mrq) is 13.40 times, profit margin of the company is -33.35%, operating margin is -35.50%, return on assets (ttm) is -9.07%, and return on equity (ttm) is -16.90%.
Recent Developments
- On March, 2022, Snowflake acquired all outstanding stock of Streamlit, Inc. (Streamlit), a privately-held company which provides an open-source framework for creating and deploying data applications. The acquisition date fair value of the purchase consideration was $650.8 million, which was comprised of $211.8 million in cash and 1.9 million shares of common stock valued at $438.9 million as of the acquisition date.2
- On September, 2022, Snowflake acquired all outstanding stock of Applica Sp. z.o.o. (Applica), a privately-held company which provides an artificial intelligence platform for document understanding, for $174.7 million in cash.3
Business Overview
The business of Snowflake Inc. is designed to solve the decades-old problem of data silos and data governance. Leveraging the elasticity and performance of the public cloud, our platform enables customers to unify and query data to support a wide variety of use cases. It also provides frictionless and governed data access so users can securely share data inside and outside of their organizations, generally without copying or moving the underlying data. As a result, customers can blend existing data with new data for broader context, augment data science efforts, and create new monetization streams. Delivered as a service, Snowflake's platform requires near-zero maintenance, enabling customers to focus on deriving value from their data rather than managing infrastructure.
The business of the company consists of three integrated layers: compute, storage, and cloud services.
Compute layer: The compute layer provides dedicated resources to enable users to simultaneously access common data sets for many use cases with minimal latency.
Storage layer: The storage layer ingests massive amounts and varieties of structured, semi-structured, and unstructured data to create a unified data record.
Cloud services layer: The cloud services layer intelligently optimizes each use case’s performance requirements with no administration. This architecture is built on three major public clouds across 38 regional deployments around the world. These deployments are generally interconnected to deliver the Data Cloud, enabling a consistent, global user experience.
