Tim Beyers

Stock is up, beating the market by over 66% so far this year.

And the results were pretty good.

Product revenue growth, 29%.

Comes in at $1.16 billion.

The remaining performance obligations, if you don't know what that is, think of it as backlog, $7.88 billion.

That's big.

That was up over 37%.

And the non-GAAP operating margin did expand by 450 basis points year over year and reached 11%.

Give me your take here, and then I'll bring in some other stats here.

But you follow this company, so tell me where you're at.

Rick, I'm going to give you another bit of data here.

Snowflake Intelligence, which is their enterprise AI agent, they've been investing a lot in AI.

For those who don't know how Snowflake works, it's like Sandmeet said, it is an archival storage environment.

They get paid more when customers put more data into the system and do stuff in the system.

Snowflake Intelligence is the gateway to do more stuff with AI inside Snowflake.

Rick,

being used by 1,200 customers.

This is what Snowflake says.

It is now 50% of new bookings.

How are you feeling about this company and its path to profitability?