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    AI

    Snowflake CEO Says Agentic Enterprise Runs on Platform

    Sridhar Ramaswamy thanks customers and partners for making results possible.

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    10 Sources, 28d ago, first seen 28d ago

    TLDR

    Sridhar Ramaswamy, CEO of Snowflake and founder of Neeva, posted a public reply thanking customers, partners, and Snowflakes for making the company's results possible. He stated that the Agentic Enterprise runs on Snowflake and that the company is just getting started. The message was tagged as coming from an executive and links to the quarterly results section on the Snowflake investor relations site. Ramaswamy presented the comment in his role as the company's top leader. The packet shows only this post and the linked source page, with no other statements or figures included.

    Combined views

    163.2K

    10 Sources, first seen 28d ago

    Combined views

    163.2K

    10 Sources, first seen 28d ago

    1.2K likes
    1.2K likes
    84 comments
    163 saves
    65 reposts
    84 comments
    163 saves
    65 reposts

    Sentiment

    Positive63%37%Negative

    Summary

    Positive accounts welcomed Snowflake’s AI-driven revenue reacceleration to a $6B run rate and fundamental growth from $1B, while negative accounts called the valuation disconnected and questioned ongoing profitability claims.

    Based on 47 sentiment-bearing replies from 46 accounts across 3 conversations.

    Sentiment

    Positive63%37%Negative

    Summary

    Positive accounts welcomed Snowflake’s AI-driven revenue reacceleration to a $6B run rate and fundamental growth from $1B, while negative accounts called the valuation disconnected and questioned ongoing profitability claims.

    Based on 47 sentiment-bearing replies from 46 accounts across 3 conversations.

    10 Sources

    @RamaswmySridharBased on our strong momentum and platform demand, we’re raising our FY27 product revenue outlook from 31% to 36% YoY growth. AI is compounding Snowflake’s core advantage in three distinct ways 👇
    @altcapLast time $SNOW hit $375 in 2021 they had $1 B in revenue. Today its $6 B with accelerating 37% revenue growth & expanding operating margins driven by AI use cases like CoCo & Cowork. Congrats. 💪💰📈
    @buccocapitalOne under-discussed part of $SNOW story is how AI is accelerating migrations onto the platform Worth thinking through the winners and losers across the enterprise from massively lower friction to enter/exit platforms esp those who had complexity-based lock-in as a moat
    @ttunguzThat represents ~4%–5% of revenue today, but explains roughly half of the +700 bps growth acceleration (30% → 37%). The flywheel: direct GPU token billing acts as a catalyst, pulling along higher-margin SQL warehouse compute to clean, join, and feed enterprise data to the models.
    @jasonlkSnowflake just blew out the quarter -- and reaccelerated at a $6 billion run rate The reason, of course is AI. But not mainly from AI native customers. Third straight quarter of acceleration: 30% → 34% → 37%. Sequential product revenue added: Q4 FY26: +$68M Q1 FY27: +$108M Q2 FY27: +$158M They raised the full-year guide from $5.84B to $6.07B in one quarter, moving implied growth from 31% to 36%. #1. About half the acceleration came from AI products The other half came from those products pulling more core consumption behind them. AI went on the same consumption meter customers already had, not into a separate SKU with its own quota. #2. CoCo, their coding agent, is on 9,100 accounts out of 14,554 customers, and added 2,000 in the quarter Its cost-management skill is a top-10 skill. Snowflake shipped an agent that helps customers spend less on Snowflake and consumption accelerated anyway. #3. They gave up gross margin on purpose Product gross margin went 76% to 75%, and they guided the year down to 74% on AI workload mix. Then they raised the operating margin guide from 13.5% to 14.5%. Revenue grew 35%, opex grew 17%. The AI bill came out of headcount. #4. NRR 126% 49 customers crossed $1M this quarter against a $158M sequential add. At this scale the base is the engine. #5. Total RPO grew 30% while current RPO grew 42% In consumption, RPO tells you when a customer signed. Revenue tells you when they burned it. -> Still a $263M GAAP operating loss, with stock comp at 29% of revenue. GAAP breakeven is targeted for Q4 FY28. Two points of gross margin for seven points of growth. Stock went from $306 to roughly $370. Almost double its low, and almost back to its peak.

    10 Sources

    @RamaswmySridharBased on our strong momentum and platform demand, we’re raising our FY27 product revenue outlook from 31% to 36% YoY growth. AI is compounding Snowflake’s core advantage in three distinct ways 👇
    @altcapLast time $SNOW hit $375 in 2021 they had $1 B in revenue. Today its $6 B with accelerating 37% revenue growth & expanding operating margins driven by AI use cases like CoCo & Cowork. Congrats. 💪💰📈
    @buccocapitalOne under-discussed part of $SNOW story is how AI is accelerating migrations onto the platform Worth thinking through the winners and losers across the enterprise from massively lower friction to enter/exit platforms esp those who had complexity-based lock-in as a moat
    @ttunguzThat represents ~4%–5% of revenue today, but explains roughly half of the +700 bps growth acceleration (30% → 37%). The flywheel: direct GPU token billing acts as a catalyst, pulling along higher-margin SQL warehouse compute to clean, join, and feed enterprise data to the models.
    @jasonlkSnowflake just blew out the quarter -- and reaccelerated at a $6 billion run rate The reason, of course is AI. But not mainly from AI native customers. Third straight quarter of acceleration: 30% → 34% → 37%. Sequential product revenue added: Q4 FY26: +$68M Q1 FY27: +$108M Q2 FY27: +$158M They raised the full-year guide from $5.84B to $6.07B in one quarter, moving implied growth from 31% to 36%. #1. About half the acceleration came from AI products The other half came from those products pulling more core consumption behind them. AI went on the same consumption meter customers already had, not into a separate SKU with its own quota. #2. CoCo, their coding agent, is on 9,100 accounts out of 14,554 customers, and added 2,000 in the quarter Its cost-management skill is a top-10 skill. Snowflake shipped an agent that helps customers spend less on Snowflake and consumption accelerated anyway. #3. They gave up gross margin on purpose Product gross margin went 76% to 75%, and they guided the year down to 74% on AI workload mix. Then they raised the operating margin guide from 13.5% to 14.5%. Revenue grew 35%, opex grew 17%. The AI bill came out of headcount. #4. NRR 126% 49 customers crossed $1M this quarter against a $158M sequential add. At this scale the base is the engine. #5. Total RPO grew 30% while current RPO grew 42% In consumption, RPO tells you when a customer signed. Revenue tells you when they burned it. -> Still a $263M GAAP operating loss, with stock comp at 29% of revenue. GAAP breakeven is targeted for Q4 FY28. Two points of gross margin for seven points of growth. Stock went from $306 to roughly $370. Almost double its low, and almost back to its peak.
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