Snowflake Inc at Citizens JMP Technology Conference Transcript

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

Question: Patrick Walravens - Citizens JMP Securities - Analyst : It's nice to be in here with you guys. Tariffs don't affect you economically in any way, right?

Question: Patrick Walravens - Citizens JMP Securities - Analyst : And just so -- because it's kind of interesting. So it does -- why do tariffs not impact software?

Question: Patrick Walravens - Citizens JMP Securities - Analyst : What is transfer pricing?

Question: Patrick Walravens - Citizens JMP Securities - Analyst : All right. That's something I got to look into. Let's talk a little bit about why you're leaving us.

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Where did you guys had the coffee? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 04, 2025 / 6:30PM, SNOW.N - Snowflake Inc at Citizens JMP Technology Conference

Question: Patrick Walravens - Citizens JMP Securities - Analyst : That's funny. Okay, and so --

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Yes, and we appreciate that you are in no rush too.

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Yes, all right. So you have someone doing it. You have some high end --

Question: Patrick Walravens - Citizens JMP Securities - Analyst : And what are the characteristics you're looking for? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 04, 2025 / 6:30PM, SNOW.N - Snowflake Inc at Citizens JMP Technology Conference

Question: Patrick Walravens - Citizens JMP Securities - Analyst : That's a lot. All right.

Question: Patrick Walravens - Citizens JMP Securities - Analyst : That's a lot.

Question: Patrick Walravens - Citizens JMP Securities - Analyst : No. I don't know how you guys do it.

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Yes, yes, no, definitely not. But keep my eyes out for who the right person is. Yes, that's a lot. All right. Cool. So over the last year -- so you guys acquired Sridhar's company, right?

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Yes. So I guess he was just -- I forgot, he has a word for the period before he was CEO. I forget what he calls it. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 04, 2025 / 6:30PM, SNOW.N - Snowflake Inc at Citizens JMP Technology Conference

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Really?

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Yes. And so --

Question: Patrick Walravens - Citizens JMP Securities - Analyst : It seems like it. It seems like it. So just stepping back for people. Over the last year, what are the two or three biggest things you'd point to that he has done?

Question: Patrick Walravens - Citizens JMP Securities - Analyst : It's real time. When it's ready, you let it roll. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 04, 2025 / 6:30PM, SNOW.N - Snowflake Inc at Citizens JMP Technology Conference

Question: Patrick Walravens - Citizens JMP Securities - Analyst : All right. So a big one was product innovation a lot fast. That's the right word is, velocity of product innovation.

Question: Patrick Walravens - Citizens JMP Securities - Analyst : He'll do it himself, right? He doesn't need someone to come do it for him.

Question: Patrick Walravens - Citizens JMP Securities - Analyst : And these are the sales engineers? They support your sales?

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Yes. Are you increasingly looking to hire salespeople who actually have the skill set to be a sales engineer? I mean, where like they can build the demo and they can do the sale? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 04, 2025 / 6:30PM, SNOW.N - Snowflake Inc at Citizens JMP Technology Conference

Question: Patrick Walravens - Citizens JMP Securities - Analyst : So that's a little bit of a trend. I've heard from people who are interviewing at Salesforce that if you can't build the agents and everything yourself, they're not interested. It makes sense, right? Like the whole point is you're trying to say that these things are easy to adopt, you better be able to do it yourself. Okay. So the other thing that I've heard is, people are like -- what do we need for a new CFO, and they're like, well, it's got to be somebody who works 20 hours a day, seven days a week. Does he have a really high work ethic?

Question: Patrick Walravens - Citizens JMP Securities - Analyst : And that's supposedly post his power lifting stats on the slide.

Question: Patrick Walravens - Citizens JMP Securities - Analyst : I heard -- I might have told you the story last year, but I had an executive of another company who was really excited that he got an introduction to Sridhar's for dinner. And then when the details came in, the dinner was in the office, bring your technical team. We'll order in.

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Okay. Why don't we open it up to our audience for questions. I have a bunch of other stuff, but let's see what people want to ask you, Mike.

Question: Patrick Walravens - Citizens JMP Securities - Analyst : I'm counting in the room. They'll be playing over. Yes, in the back, go ahead. And we have to remember to repeat the question. Unidentified Participant What are the primary competitive pressures Snowflake can see from others in the market like Databricks and others?

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Yes. I do feel like the volume of sort of the competitive discussion between the two of you has diminished somewhat over the last year?

Question: Patrick Walravens - Citizens JMP Securities - Analyst : SAP -- sorry. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 04, 2025 / 6:30PM, SNOW.N - Snowflake Inc at Citizens JMP Technology Conference

Question: Patrick Walravens - Citizens JMP Securities - Analyst : No, we'll get to it. Unidentified Participant Speaking of federal, given the change in the last six weeks, what are you guys seeing so far (inaudible)

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Yes, in the back. Unidentified Participant (inaudible - microphone inaccessible)

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Can you just explain why the streaming is so important?

Question: Patrick Walravens - Citizens JMP Securities - Analyst : I know, but keep it high level, just --

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Three contracts instead of one of what they're paying.

Question: Patrick Walravens - Citizens JMP Securities - Analyst : It's not really specific to Snowflake, but I thought I'd ask you anyways. Is all this stuff about data center orders maybe being scaled back because of -- maybe any thoughts on that?

Question: Patrick Walravens - Citizens JMP Securities - Analyst : No challenges getting access --

Question: Patrick Walravens - Citizens JMP Securities - Analyst : I think that's going to happen. All right. 30 seconds. Anyone have one last one? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 04, 2025 / 6:30PM, SNOW.N - Snowflake Inc at Citizens JMP Technology Conference

Question: Patrick Walravens - Citizens JMP Securities - Analyst : Yes. All right. Mike, thanks so much. It's a pleasure to have you here. We always appreciate it.