Snowflake says exec shared unauthorized guidance in Instagram street interview

This week, Snowflake made a necessary filing with the Securities and Exchange Commission after an executive inadvertently shared unauthorized financial projections during a street interview on Instagram. The data-storage firm clarified in an 8-K filing on Monday that the unnamed executive is not an authorized spokesperson, as outlined in Snowflake's Corporate Disclosure Policy, stating, "Investors should not rely upon such statements." The Instagram video, posted by the account "theschoolofhardknockz," features host James Dumoulin conversing with Snowflake's Chief Revenue Officer, Mike Gannon. During the discussion, Gannon projected the company would surpass $4.5 billion in revenue for the year, with aspirations to reach $10 billion within a couple of years. The video has garnered significant attention, amassing 2.5 million views. Snowflake has yet to respond to inquiries regarding the incident. Gannon, who stepped into the role of CRO earlier this year, expressed his admiration for the "theschoolofhardknockz" platform, which boasts 7.6 million followers and features interviews with high-profile figures, including athletes and CEOs. In the same SEC filing, Snowflake reaffirmed its previously announced guidance for the third quarter and the full fiscal year 2026, initially provided in late August. This guidance includes a revenue target of $4.395 billion for the year, slightly below Gannon's projection. The company emphasized that its third-quarter results would adhere to its standard practices, maintaining its established guidance philosophy. Notably, Snowflake's shares have risen nearly 70% year-to-date.