SNOWFLAKE INC Reports 35.5% Year-Over-Year Increase in Revenue for 2Q FY2024
August 25, 2023
☀️Earnings Overview
On August 23, 2023, SNOWFLAKE INC ($NYSE:SNOW) reported its second quarter FY2024 results, showing total revenue of USD 674.0 million, a 35.5% increase from the same period last year.
Analysis
GoodWhale recently conducted an analysis of SNOWFLAKE INC‘s wellbeing and the results indicate that it is a medium risk investment in terms of both financial and business aspects. GoodWhale’s Risk Rating system gave SNOWFLAKE INC an overall rating of Medium Risk. However, GoodWhale also detected two risk warnings in the non-financial sector of the balance sheet. Those who are interested in further details about the potential risks associated with this company are encouraged to register on goodwhale.com and examine the findings for themselves. The data collected by GoodWhale indicates that SNOWFLAKE INC is a viable investment option. However, investors should take into account the potential risks associated with this particular company before making any decisions. GoodWhale’s Risk Rating system can be a useful tool for investors in making informed decisions about their investments. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Snowflake Inc. More…
| Total Revenues | Net Income | Net Margin |
| 2.44k | -860.6 | -34.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Snowflake Inc. More…
| Operations | Investing | Financing |
| 679.23 | -472.82 | -364.23 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Snowflake Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.51k | 2.21k | 16.22 |
Key Ratios Snapshot
Some of the financial key ratios for Snowflake Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 82.4% | – | -41.1% |
| FCF Margin | ROE | ROA |
| 24.3% | -11.9% | -8.4% |
Peers
Snowflake Inc is a data warehouse company that was founded in 2012. The company has raised over $1.4 billion in funding and is currently valued at $12 billion. Snowflake competes with Teradata, Palantir, Microsoft, and other data warehouse companies.
– Teradata Corp ($NYSE:TDC)
Teradata is a provider of data warehousing and analytic solutions. The company’s products and services include data warehouse platforms, big data analytics, and consulting services. Teradata’s products and services are used by companies in a variety of industries, including healthcare, finance, retail, and telecommunications.
As of 2022, Teradata had a market capitalization of 3.1 billion dollars and a return on equity of 37.85%. Teradata’s strong market position and high ROE are indicative of the company’s success in the data warehousing and analytics market. Teradata’s products and services are in high demand by companies looking to gain insights from their data. The company is well-positioned to continue its success in the future.
– Palantir Technologies Inc ($NYSE:PLTR)
Palantir Technologies Inc is a software company that specializes in big data analysis. The company went public in 2020 and has a market cap of 16.84B as of 2022. The company has a Return on Equity of -13.19%.
Palantir was founded in 2004 by a group of Stanford computer scientists who were interested in using big data to solve complex problems. The company has since grow to become a leading provider of big data solutions to both the public and private sectors. Palantir’s products are used by governments and organizations around the world to detect and prevent crime, track and manage assets, and understand and analyze large data sets.
– Microsoft Corp ($NASDAQ:MSFT)
Microsoft Corporation is an American multinational technology company with a market cap of 1.76 trillion as of 2022. It has a Return on Equity (ROE) of 45.3%. The company develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers.
Summary
Snowflake Inc reported strong financial results for the second quarter of FY2024, with total revenue at USD 674 million representing a 35.5% year-on-year growth. Despite the growth in revenue, the company’s net income came in at USD -226.9 million, which is an improvement from the previous year’s figure of -222.8 million. This suggests that the company is still struggling to turn a profit and investors should take caution when considering Snowflake Inc as an investment. Investors should take a closer look at Snowflake’s cash flow and expenses to determine if their current strategy is sustainable before taking any long-term positions.
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