Snowflake’s consumption business continues to feel pressure as large enterprise customers look for ways to optimize usage. While it seemed that management had a handle on forecasting the impact of this effect when they lowered guidance back in Q4, they still underestimated the trend. With the Q1 report, they once again brought down the full year revenue target.
This is a summary of the more detailed post at Software Stack Investing.
Snowflake’s consumption business continues to feel pressure as large enterprise customers look for ways to optimize usage. While it seemed that management had a handle on forecasting the impact of this effect when they lowered guidance back in Q4, they still underestimated the trend. With the Q1 report, they once again brought down the full year revenue target.
This is a summary of the more detailed post at Software Stack Investing.