Key Takeaways
- Snowflake filed SEC Form 8-K after unauthorized financial guidance shared in Instagram interview
- Chief Revenue Officer Mike Gannon disclosed $4.5B revenue projection, exceeding official guidance
- Company warned investors not to rely on these statements and reaffirmed original financial targets
American data storage giant Snowflake has submitted an 8-K filing with the Securities and Exchange Commission following unauthorized financial disclosures made by one of its executives in a viral Instagram video.
The incident occurred when Mike Gannon, Snowflake’s Chief Revenue Officer, provided unsanctioned revenue projections during a street interview posted on the popular Instagram account “theschoolofhardknockz.”
Unauthorized Financial Disclosures
In the video that has garnered 2.5 million views, Gannon stated: “So we’re going to exit this year, probably just over about $4.5 billion. We’re getting to $10 billion in a couple of years.”
Snowflake’s SEC filing clarified that the executive was not an authorized spokesperson under company disclosure policies. “As a result, investors should not rely upon such statements,” the company explicitly warned shareholders.
Official Guidance vs Instagram Claims
Meanwhile, Snowflake reaffirmed its original third-quarter and full fiscal year 2026 guidance issued in August. The official projection stands at $4.395 billion in annual revenue—approximately $100 million less than Gannon’s Instagram estimate.
The company confirmed its standard reporting practices and guidance approach remain unchanged despite the social media incident.
Notably, Snowflake shares have surged nearly 70% this year according to CNBC reports.
Interview Context
Gannon, who assumed the Chief Revenue Officer position in March, revealed he regularly follows the Instagram page and congratulated interviewer James Dumoulin on its success.
The “theschoolofhardknockz” account boasts 7.6 million followers and features business advice interviews with high-profile figures including athlete Shaquille O’Neal, Chipotle CEO Scott Boatwright, and actor Tom Cruise.
