But they had $381m in stock comp over the same period?
Seems excessive, no?
Dreamer,
The topic of SNOW’s stock based comp has already been beaten to death, seems like every quarter it gets brought up because prior posts or company documents are just never read by some people.
There is NOTHING new about the guided SBC for the current fiscal year since BEFORE ipo in 2020, three years ago.
Management has continued to reiterate 1% dilution each year moving forward, after this FY. This guidance is the most important to us today, if we are making valuation assumptions past this FY.
In my opinion up to end of this FY we are supposed to be valuing SNOW based on 360M share count, ever since they became public. Nothing has changed about that at all.
https://discussion.fool.com/my-big-concerns-with-snowmassive-sto…
Can we put to rest the issue of SNOW’s SBC already?
From the S1 filing at IPO, the expected SBC and share dilution was already known far in advance.
Back in 2020, everyone knew the diluted share count would hit 360M today. There is nothing surprising here.
Here is an article complaining about SBC back at IPO in September 2020: https://fortune.com/2020/09/17/snowflake-ipo-successful-stoc……
“…its total shares outstanding will grow substantially in the years ahead as employees cash in their generous equity grants…it looks like almost all of those 80 million shares-in-waiting will add to Snowflake’s current float of around 280 million, lifting the total by 29% to 360 million.”
Everybody knew the share count would hit 360 million long ago and it hasn’t changed since IPO.
SNOW has guided for 360M diluted share count for this year since two quarters ago and also guided for 1% share dilution per year moving forward.
The SBC you are worried about today, is a problem in the past. I would think of the 80 million shares added as a one time drawn out IPO charge/event. Focus on the future: there isn’t going to be significant dilution.