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Snowflake (SNOW) investor relations material
Snowflake UBS’s 2025 Global Technology and AI Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.UBS’s 2025 Global Technology and AI Conference summary4 Dec, 2025
Product innovation and AI integration
Focused on accelerating product velocity and global go-to-market execution, with notable success in launching Snowflake Intelligence and integrating acquired technologies like Datavolo into OpenFlow.
Emphasized the importance of high-quality, accessible data as the foundation for AI-driven business transformation and automation.
Introduced Gen2 warehouse for improved query performance with price neutrality, and Cortex Code, an AI-powered data agent to simplify complex data tasks and migrations.
AI is being leveraged to accelerate migrations, optimize queries, and enable rapid application development within secure governance frameworks.
Partnerships with app development platforms like Vercel enable secure, customizable app deployment within Snowflake's environment.
Market trends and customer demand
Noted a surge in cloud data migration, especially among financial services and telco clients, with migration activity showing quarterly variability but overall positive momentum.
Customers are increasingly seeking AI-ready platforms to automate and transform business processes, driving demand for Snowflake's offerings.
Emphasized the need for incremental, low-risk migration strategies and highlighted the structural advantages of cloud platforms over on-premises systems.
Recognized a heterogeneous data landscape, with Snowflake supporting open formats and integration with legacy systems.
Interactive analytics is a new focus area, aiming for sub-200 ms query latency to support high-performance, user-facing applications.
Financial performance and outlook
Reported 29% year-over-year revenue growth, with full-year guidance raised by $51 million due to strong migration trends.
Revenue growth is expected to remain near 30%, with some quarterly fluctuations, and ongoing efforts to drive further acceleration.
Margin improvement is a priority, with a focus on responsible growth, operational efficiency, and leveraging AI to avoid excessive headcount increases.
The company is positioned as a leader among large-scale software firms maintaining high growth rates.
How to match OpenAI/Anthropic product speed?
AI's impact on migration activity acceleration?
How will AI drive EBIT margin improvement?
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Frequently asked questions
Offering cloud-based warehousing solutions
Snowflake Inc is an American technology company that builds data warehousing solutions. Their cloud-based solutions enable their customers to store and analyze their data with their analytics tools. Their platform includes data engineering, a data lake, a data warehouse, data science, data applications, and data sharing. The company was founded in 2012 and is headquartered in Bozeman, Montana.
Founders with an eye for the future of data
The company was founded in 2012 by Benoit Dageville, Thierry Cruanes, and Marcin Zukowski that all three were experts in data warehousing, with the two former previous working at Oracle. Dageville and Cruanes realized that data warehouses were struggling but concluded that they wouldn’t die out but rather needed to adapt to the era of big data. Bob Muglia, former Microsoft executive, bevame the CEO in 2014. The current CEO Frank Slootman was appointed in 2019 when he had previously retired from the technology company ServiceNow.
Not a SaaS business
Contrary to popular belief, Snowflake isn’t a traditional Software-as-a-Service (SaaS) company. Many traditional companies nowadays operate under a subscription model meaning the customer needs to choose a tier or a package based on anticipated needs in the future. Snowflake instead operates under a consumption model. Meaning customer only pays for what they need. At the same time, revenue is recognized when consumption occurs. As of January 2022, 93 percent of the revenue was consumption-based. Its product revenue category consists of computing, storage, and data transfer services. It’s the majority of its revenue. Customers can also stop their billing when no queries are running and so on, making them only charge for what they use.
The record-breaking IPO
Snowflake was listed on the New York Stock Exchange on September 16, 2020. At this point in time, it was the largest software IPO ever made. The company's share prices doubled on its first day of trading, breaking another record. Prior investors to the IPO include Salesforce, Sequoia, and Sutter Hill Ventures. Perhaps a more remarkable investor in the IPO was Warren Buffet’s Berkshire Hathaway. This was his first investment in a newly public U.S. company since Ford did its IPO in 1956. Due to the sharp rise in share price on its IPO day, Buffet made more than $800 million in profit on the investment in Snowflake’s IPO.
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