Thread by @cameroniadeluca

1/ Snowflake released their S-1 today.

Here is a quick breakdown of the disclosure in a [THREAD].

Here is the link: sec.gov/Archives/edgar…

Quick Notes:
- Ticker $SNOW
- "Emerging growth company"
- "Reimagining data management for the cloud"

2/ Financials:

- Revenue Growth: +121% YoY
- Net Dollar Retention: 158%
- Customers: 3,117 total w/ 7 of the Fortune 10 and 146 of the Fortune 500 (9% and 26% of first half 2020 revenue, respecitively)
- $1M+ Customers: 56

3/ Daily Queries:

July 2020: Processed an avg of 507M daily quer across all customer accts, avg of 254M July 2019.

# of daily quer does not directly correlate with rev.

Rev is dependent upon the duration of such quer, type of resource used, and vol of data processed for quer"

4/ Revenue:

"Substantial majority of our revenue from fees charged to our customers based on the storage, compute, and data transfer resources consumed on our platform as a single, integrated offering."

5/ MD&A: Cloud Data Platform...

"Our platform solves the decades-old problem of data silos and data governance. Leveraging the elasticity and performance of the public cloud, our platform enables customers to unify and query data to support a wide variety of use cases."

6/ MD&A: Cloud Data Platform...

"It also provides frictionless and governed data access so users can securely share data inside and outside of their organizations, generally without copying or moving the underlying data."

Data Silo Info: plixer.com/blog/data-silo….

7/ MD&A: Business Model

"Our customers typically enter into capacity arrangements on an annual basis, or consume our platform under on-demand arrangements in which we charge for use of our platform monthly in arrears."

8/ Management:

- Only remaining founder on the management team is Benoit Dageville who is the President of Products and a Director. Former CTO (May '19)

- CEO Frank Slootman is former chairman of the board at ServiceNow.

- CFO Michael P. Scarpelli is former CFO at ServiceNow.

9/ Competitors:

"Our current competitors include..."

10/ Competitors:

I have heard that $SNOW will compete against $AYX. According to examples listed below, they may compete with AYX, but it is hard to tell how much of their revenue comes from those services that Alteryx also provides (data engineering/science).

11/ I am looking forward to this IPO and have added to the watchlist.

Cheers

@threadreaderapp "unroll"