Snowflake reported their Q3 FY2023 earning results on November 30th. The company beat revenue estimates, delivering 67% annual growth. The Q4 product revenue guide, however, missed expectations by about 2%, with annual growth decelerating to 49%. Initially, the market’s reaction was unfavorable, as the stock dropped by over 10% after hours. At the tail end of the guidance portion of the call, however, management shared a preliminary outlook for next year (FY 2024) for 47% revenue growth with 23% FCF margin.
Snowflake reported their Q3 FY2023 earning results on November 30th. The company beat revenue estimates, delivering 67% annual growth. The Q4 product revenue guide, however, missed expectations by about 2%, with annual growth decelerating to 49%. Initially, the market’s reaction was unfavorable, as the stock dropped by over 10% after hours. At the tail end of the guidance portion of the call, however, management shared a preliminary outlook for next year (FY 2024) for 47% revenue growth with 23% FCF margin.