The Snowflake Inc logo, which represents the American cloud computing-based data company that offers cloud-based storage and analytics services, is being displayed on their pavilion at the Mobile World Congress 2024 in Barcelona, Spain, on February 28, 2024.
Snowflake had to make a Securities and Exchange Commission filing this week after an executive shared unauthorized financial guidance in a street interview video on Instagram posted on Sunday.
The data-storage company said in the 8-K filed Monday that the executive, who was not named, is not a "designated spokesperson authorized to authorized to disclose financial information" under Snowflake's Corporate Disclosure Policy.
"As a result, investors should not rely upon such statements," the company wrote.
The video, which the filing notes was posted by Instagram account "theschoolofhardknockz," features host James Dumoulin asking Snowflake Chief Revenue Officer Mike Gannon about financial advice for business owners and his company's revenue.
"So we're going to exit this year probably just over about $4.5 billion," Gannon said. "We're getting to $10 billion in a couple of years."
The video currently has 2.5 million views.
Snowflake did not immediately respond to a request for comment.