Snowflake just filed an emergency SEC disclosure after its Chief Revenue Officer spilled company financials on a viral Instagram show. Mike Gannon casually mentioned $4.5 billion in revenue projections during a street interview that's now hit 2.5 million views - forcing the cloud giant to clarify he wasn't authorized to share that guidance.
What started as a casual street interview for Snowflake Chief Revenue Officer Mike Gannon just became the cloud company's biggest communications headache in months. The executive appeared on Instagram's massively popular 'theschoolofhardknockz' show Sunday, where he casually dropped financial projections that sent the company scrambling to file an emergency SEC disclosure by Monday morning.
'So we're going to exit this year probably just over about $4.5 billion,' Gannon told host James Dumoulin in the now-viral clip. 'We're getting to $10 billion in a couple of years.' The problem? That revenue estimate sits roughly $100 million above Snowflake's official guidance of $4.395 billion, issued just two months ago during their Q2 earnings call.
The 7.6 million-follower Instagram account regularly features surprise interviews with celebrities and executives, from Shaquille O'Neal to Chipotle CEO Scott Boatwright. But Gannon's appearance backfired spectacularly when his off-the-cuff remarks contradicted the company's carefully managed investor communications.
Snowflake moved quickly to contain the damage, filing an 8-K form stating that Gannon 'is not a designated spokesperson authorized to disclose financial information' under the company's disclosure policy. The filing explicitly warned that 'investors should not rely upon such statements' - corporate speak for 'our CRO went rogue.'
The incident underscores how social media's informal nature can clash with strict SEC disclosure rules. Unlike traditional media interviews where executives typically have PR handlers nearby, these street-style shows catch subjects off guard. Gannon even admitted he's a regular viewer of the show, telling Dumoulin he watches 'theschoolofhardknockz' often and congratulating him on the account's success.
For Snowflake, the timing couldn't be worse. The data cloud company has been on a tear this year, with shares climbing almost 70% as AI demand drives enterprise adoption. The company appointed Gannon as CRO just eight months ago in March, making this unauthorized guidance drop an early test of his judgment.
