The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst
: Frank, a two-parter for you on the data sharing stuff. So the customers that have embraced data sharing, how long does it typically take for them
to get there? Like can that happen quick? Or is it typically more with customers that have been on the platform for a bit? And then the follow-up,
the part 2 would be how much of an inflection consumption does that typically drive?
Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst
: Just how much of an inflection that is in consumption.
Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst
: Yes. Got it. And Mike, a very quick follow-up for you. Of the $800 million for Streamlit, how much is cash?
Question: David E. Hynes - Canaccord Genuity Corp., Research Division - Analyst
: 80% stock. Okay. Got it.
Question: Kasthuri Gopalan Rangan - Goldman Sachs Group, Inc., Research Division - Analyst
: It's Kash here, guys. I'm curious to get your -- despite your best-case scenario for Streamlit, the dream that we envision 2 or 3 years from now, what
is Streamlit going to allow Snowflake to pursue in the machine learning data science realm that would consider this to be a success.
And Mike, a question for you. I know that you mentioned that you're passing along savings back to customers, but customers are also coming back
and doing more workloads with you guys. So if you can just run to the rationale of why do you think renewal rate, net retention rates are going to
go below 150%. Because it's coming off of a very, very high base and you've actually earned the goodwill and trust of your customer.
Question: Karl Emil Keirstead - UBS Investment Bank, Research Division - Analyst
: Two questions. So Mike, to start, does the Q1 April product revenue guide of $388 million assume a more conservative view on usage ramps given
what you flagged in early January? Or does it assume basically a return to normal activity, seasonality?
Question: Karl Emil Keirstead - UBS Investment Bank, Research Division - Analyst
: Okay. And then as a second question, if I could just press a little bit on the context to passing on these platform improvements. Companies normally
don't willingly make changes that cut 5% out of the revenues. So I'm curious, were you getting pushback from customers around price performance
relative to alternative products and you decided to try to alleviate that price pushback by making this change? Like what's the broader context for
doing this? Because it's very rare.
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