What most commentators are missing here is that Snowflake had a significant revenue reduction when they improved the efficiency of their product, ie they could do more with less customer cost, less cpu use. This is similar to AWS lowering prices for many things steadily over time. Snowflake did this knowing that they would get less revenue, they would have less growth, and I suspect they also knew it would cause their stock price to go down. Here's an article on it from March, https://www.yahoo.com/now/snowflake-plunges-revenue-growth-o....
Certainly snowflake wants to make it easier for people to spend money and solve all their problems on that platform, every company wants that. But it's a very competitive world out there, and snowflake leaders aren't complete idiots - they have to keep lowering their prices when they can, otherwise new people will come along and do things cheaper.
Certainly snowflake wants to make it easier for people to spend money and solve all their problems on that platform, every company wants that. But it's a very competitive world out there, and snowflake leaders aren't complete idiots - they have to keep lowering their prices when they can, otherwise new people will come along and do things cheaper.