Snowflake Inc. has recently released its 10-Q report, revealing key insights into the company's financial performance and operations. Snowflake Inc. is a cloud-based data platform provider that offers the AI Data Cloud, enabling organizations to consolidate data, drive business insights, build data applications, and apply AI to solve business problems. The company serves various industries, including financial services, retail, healthcare, and government sectors. Snowflake Inc. operates on a customer-centric, consumption-based business model, primarily generating revenue from fees charged to customers based on compute, storage, and data transfer resources consumed on its platform.
In its 10-Q report, Snowflake Inc. highlighted that it had 11,578 total customers as of April 30, 2025, with 754 of them being Forbes Global 2000 companies. The company's net revenue retention rate stood at 124% and 126% as of April 30, 2025, and January 31, 2025, respectively. Snowflake Inc. emphasized its focus on acquiring new customers and driving increased usage of its platform for existing customers, primarily targeting large organizations through a direct sales force. The company's platform is used globally and has been adopted by many of the world's largest organizations, positioning Snowflake Inc. as a key strategic partner in cloud and data transformation initiatives.
Snowflake Inc. also discussed the impact of macroeconomic conditions on its business and financial performance, highlighting potential effects such as rationalized budgets, cash flow management, and optimized consumption by customers. The company emphasized the importance of market adoption of its platform, new product functionality, and the expansion of the AI Data Cloud for its future success. Snowflake Inc. aims to continue investing in research and development to improve its platform, expand its business domestically and internationally, and meet the needs of organizations with heightened requirements in data localization, privacy, and security.
The 10-Q report provides a detailed overview of Snowflake Inc.'s key business metrics, emphasizing the company's focus on growth, customer acquisition, and expansion within its existing customer base. Snowflake Inc.'s financial performance and strategic initiatives outlined in the report offer valuable insights into its position in the competitive cloud-based data platform market. As a result of these announcements, the company's shares have moved 1.66% on the market, and are now trading at a price of $205.67. If you want to know more, read the company's complete 10-Q report here.
