Snowflake Inc. (NYSE:SNOW) Citizens JMP Technology Conference Call March 4, 2025 1:30 PM ET
Company Participants
Michael Scarpelli – Chief Financial Officer
Conference Call Participants
Unidentified Analyst
So look, we’re just delighted to have Snowflake and Michael Scarpelli, the CFO joining us today, which — how many years — when was the IPO?
Michael Scarpelli
2020, September ’20.
Unidentified Analyst
Yes. And you did it before the IPO, I remember because you were like, this is great. I’m private I can whatever I want.
Michael Scarpelli
I did say that.
Unidentified Analyst
And maybe this is the last time. So for anybody doesn’t know.
Michael Scarpelli
Hopefully. Hopefully.
Unidentified Analyst
Michael announced his pending retirement and transition out, but you got to find someone new first, right? So we’ll get to that. All right. So Snowflake is a $60 billion market cap. They had a fabulous quarter. They grew 28% on the top line nearly $1 billion in revenue just underneath it. 43% free cash flow margin in the quarter. We shouldn’t expect that. Q4 is really good.
Michael Scarpelli
Q4 is always going to be the biggest quarter.
Unidentified Analyst
Q4 is really good. And it marked a year of the new CEO, and it’s been pretty remarkable, actually, I would say, the amount of sort of innovation and change that happened in a year. So let’s start with House business and then we’ll talk about how Sridhar pulled this off, the business.
Michael Scarpelli
Sure. No, business is good. Listen, we grew 28% quarter — year-over-year quarter. We grew 30% last year, which was very good. We improved our operating margins in Q4. We went through a — Sridhar really drove this as well as a number of others with what we called our Project Get Fit, where we really rationalized a number of teams, cut-out management layers. We did a lot of performance management
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