Welcome to our dedicated page for Snowflake news (Ticker: SNOW), a resource for investors and traders seeking the latest updates and insights on Snowflake stock.
Snowflake Inc., founded in 2012, is a pioneering company in the realm of cloud-based data warehousing and analytics. Based in Silicon Valley, the company set out to revolutionize the data warehouse and succeeded by creating a unified cloud service that integrates all users, data, and workloads. Snowflake's innovative solutions make data storage, processing, and sharing seamless, enabling enterprises to gain valuable insights from their data efficiently.
With its data lake technology, Snowflake stores unstructured and semi-structured data, which can be analyzed and transformed into actionable insights within its powerful data warehouse. The company’s data sharing capability stands out, allowing businesses to buy and integrate data almost instantly, compared to traditional methods that take months.
Snowflake serves over 3,000 customers, including nearly 30% of the Fortune 500 companies. It supports multiple public clouds, ensuring flexibility and scalability for diverse business needs. The company went public in 2020, marking a significant milestone in its journey.
Backed by leading venture capital firms such as Redpoint Ventures, Sutter Hill Ventures, and Wing Ventures, Snowflake boasts a team of experts with over 120 patents in database architecture, query optimization, and parallelization. The company continuously seeks top talent in various fields including distributed systems engineering, database engineering, user interface, user experience, quality assurance, technical support, and technical writing.
Snowflake's commitment to innovation and excellence has positioned it at the forefront of the data warehousing industry, making it a key player for businesses seeking cutting-edge data solutions.
Snowflake (NYSE: SNOW) has launched the Telecom Data Cloud, designed to help telecommunications service providers enhance data management and drive digital transformation. This platform aims to break down data silos, allowing near real-time access to enriched data for improved decision-making. Notable clients like AT&T and M1 are already utilizing the platform, which features advanced AI and ML capabilities for operational efficiency. The initiative supports multi-cloud data consolidation and enables personalized service offerings, positioning Snowflake as a leader in the telecom sector amidst evolving technological demands.
Snowflake (NYSE: SNOW) has announced participation in two upcoming investor conferences. CFO Mike Scarpelli will present at the JMP Securities Technology Conference on March 6th at 2:30 p.m. PT. Additionally, both Scarpelli and SVP of Product Christian Kleinerman will present at the Morgan Stanley Technology, Media & Telecom Conference on March 7th at 12:15 p.m. PT. Investors can access the webcasts for both events via the Snowflake investor relations page at https://investors.snowflake.com. Snowflake helps organizations mobilize data across multiple clouds and industries, serving thousands of clients, including 543 of the 2022 Forbes Global 2000.
Snowflake (NYSE: SNOW) is set to release its financial results for Q4 and the full fiscal year 2023, concluding on January 31, 2023. The announcement will occur following the U.S. market close on March 1, 2023. A conference call to discuss the results will start at 3 p.m. MT on the same day. Investors can join the call by dialing (844) 200-6205 or +1 (929) 526-1599 for international access. A live webcast will be available on the Snowflake Investor Relations website, with an audio replay accessible for 30 days post-call.
Snowflake (NYSE: SNOW) has announced its definitive agreement to acquire SnowConvert from Mobilize.Net, a suite of tools designed to streamline database migrations to the Data Cloud. This acquisition aims to facilitate the migration process, significantly reducing effort and time involved. SnowConvert has already converted over 1.5 billion lines of code, enhancing automated migration success rates. Snowflake's VP of Professional Services emphasized the importance of efficient legacy migrations, which enable customers to realize value sooner. The deal awaits regulatory approvals and customary closing conditions.
Snowflake (NYSE: SNOW) reported third-quarter fiscal 2023 results, showing a 67% year-over-year growth in product revenue at $522.8 million. The company also noted remaining performance obligations of $3.0 billion, up 66% year-over-year. The net revenue retention rate reached an impressive 165%. Snowflake added 1,600 new customers during the period, totaling 7,292 customers, with 287 generating over $1 million in product revenue.
For Q4, guidance estimates product revenue between $535 million and $540 million, reflecting 49-50% growth.
Snowflake (NYSE: SNOW) reported significant growth with its Powered by Snowflake program expanding over 6x year-over-year as of July 31, 2022. The company launched four industry-specific Data Clouds and partnered with over 120 collaborators. Innovations across the Data Cloud ecosystem continue, supported by Snowflake Ventures. Strategic partnerships with companies like Deloitte and Capital One enhance joint solutions, focusing on digital innovation and data mobilization. Snowflake remains committed to driving economic value through enhanced platform capabilities.
Snowflake (NYSE: SNOW) announced new innovations at its Snowday 2022 event aimed at enhancing application development within its Data Cloud platform. The general availability of Snowpark for Python allows developers to create applications, pipelines, and machine learning models more efficiently. Organizations like Charter Communications and NerdWallet are leveraging these advancements. Snowflake's integration with Streamlit enhances the usability for data scientists, promoting increased productivity and collaboration, while new features like Dynamic Tables aim to streamline data pipeline development.
At the Snowday 2022 event, Snowflake (NYSE: SNOW) unveiled significant performance enhancements to its data platform, boosting speed and economic efficiency for customers. The Snowgrid technology enables improved cross-cloud collaboration, data governance, and business continuity. Key features include faster queries, cost optimization, and new tools for data sharing and governance. Leading companies like DoorDash benefit from Snowflake's scalable data infrastructure, ensuring seamless operations and enhanced insights.
Snowflake, listed on NYSE as SNOW, will have its Chief Financial Officer, Mike Scarpelli, present at the Barclays Global Technology, Media and Telecommunications Conference on December 8th at 9:50 am PT. The event will be streamed live on the investor relations section of the Snowflake website. Snowflake enables organizations to mobilize their data through its Data Cloud, allowing clients to unite, share, and analyze data securely. As of July 31, 2022, Snowflake services 510 of the 2022 Forbes Global 2000 companies.
Snowflake (NYSE: SNOW) will announce its third quarter financial results for fiscal year 2023, concluding on October 31, 2022, after U.S. markets close on November 30, 2022. A conference call to discuss these results will begin at 3 p.m. Mountain Time on the same day. Participants can join by calling (844) 200-6205 or +1 (929) 526-1599 for international calls. The call will also be available for live streaming on the Snowflake Investor Relations website, with an audio replay accessible for 30 days after the event.
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