Snowflake Inc. Q1 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Kasthuri Gopalan Rangan - Goldman Sachs Group, Inc., Research Division - Analyst : If you could just offer, to the degree that you can, what are your customers that are going through consumption optimization telling you with respect to when that's likely to plateau and when they are likely to come back to "normal consumption," if you can?

Question: Karl Emil Keirstead - UBS Investment Bank, Research Division - Analyst : Okay. Mike, if I could just build on Brad's line of questioning. The spirit of it is what assumptions you're embedding in your second half guidance. Are you essentially reflecting the April, May environment you saw and straightlining it? Or are you taking a little bit more of a conservative approach and sort of haircutting that? It seems that it or maybe the FINS vertical gets a little bit weaker? That's question number one. Question number two, maybe this is best suited for Frank. Frank, Mike mentioned in his comments that sales productivity is not where Snowflake wanted it to be. Could you elaborate on that? Because that sounds like some of the pressure may not be entirely macro, but might be sales execution. So I'd love to hear a little bit if I interpreted that correctly. And the steps you're taking maybe to turn it around. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 24, 2023 / 9:00PM, SNOW.N - Q1 2024 Snowflake Inc. Earnings Call