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Snowflake’s Q1 Results Reveal: Customers are Moving to Snowflake and Consuming Massive Amounts of Data

The past 12 months have shown that companies need to adapt digital business models to compete, and only the cloud can provide the agility, scalability, and innovation required for this transition.

A perfect example of this shift to the cloud can be seen in the tremendous adoption of Snowflake. Earlier this week, Snowflake reported its financial results for the first quarter of fiscal 2021. The results are impressive; revenue increased 110% year-over-year to $228.9 million. Even more notable is the total number of customers on Snowflake – 4,532.

These numbers tell the story: Not only are customers moving to Snowflake, they are moving significant workloads and consuming massive amounts of data on this remarkable cloud platform. As stated by Snowflake CEO, Frank Slootman “Snowflake reported strong Q1 results with triple-digit growth in product revenue, reflecting strength in customer consumption.”

Snowflake 2021

In a recent survey, we asked more than 1,000 IT professionals to comment on the features of Snowflake that they find the most compelling. More than 30% appreciated the multi-cluster shared data architecture; 40% were split between the ability to scale without impacting performance and data sharing through Snowflake’s Data Marketplace. The balance (10%) liked the low maintenance aspect of Snowflake. These capabilities, along with Snowflake’s innovative pricing model, will continue to drive more customers to Snowflake.

In our business, we see a lot of interest in moving complex workloads to Snowflake. That’s why we have invested heavily in automating the migration of vast amounts of data to Snowflake from a variety of legacy sources, including Netezza, Teradata, and Hadoop. Most of these workloads are further complicated with ETL jobs, which our technology SHIFT™ also automatically translates. We provide customers with two options to migrate their legacy ETL pipelines to the cloud: migrate ETL pipelines to your cloud target or migrate to cloud-native ETL frameworks.

We are excited for the future of Snowflake and are anxiously awaiting the Snowflake Summit in June 8-10.

For more information on how we support the movement of workloads to Snowflake, check out our Snowflake page at Next Pathway - Snowflake. Or better yet, try SHIFT™ for free at Try SHIFT™ (nextpathway.com).