A casual street interview just turned into a compliance nightmare for Snowflake. Chief Revenue Officer Mike Gannon casually dropped unauthorized revenue projections during a viral Instagram chat, forcing the cloud data giant into an emergency SEC filing and highlighting how social media is reshaping corporate disclosure rules in real-time.
What started as a feel-good business advice segment on Instagram just became a masterclass in why executives need media training. Snowflake found itself scrambling to file an emergency SEC 8-K after Chief Revenue Officer Mike Gannon casually shared revenue projections during a street interview that's now racked up 2.5 million views.
The drama unfolded Sunday when Gannon appeared on "theschoolofhardknockz," the wildly popular Instagram account that ambushes successful people on the street for business wisdom. Host James Dumoulin asked the usual questions about advice for entrepreneurs, but then pivoted to Snowflake's financials. "So we're going to exit this year probably just over about $4.5 billion," Gannon responded confidently. "We're getting to $10 billion in a couple of years."
That number - $4.5 billion - immediately caught analysts' attention because it exceeded Snowflake's official guidance by more than $100 million. The company had previously guided to $4.395 billion for fiscal 2026, issued back in August alongside their Q2 earnings.
By Monday morning, Snowflake's legal team was in overdrive. The company's 8-K filing made clear that Gannon "is not a designated spokesperson authorized to disclose financial information" under their Corporate Disclosure Policy. The message to investors was blunt: "As a result, investors should not rely upon such statements."
The incident highlights how traditional corporate communications are colliding with the viral nature of social media. Gannon, who joined as CRO in March, admitted during the interview that he regularly watches the account and congratulated Dumoulin on his success. The "theschoolofhardknockz" format - catching executives off-guard for authentic business conversations - has featured everyone from Shaquille O'Neal to Chipotle CEO Scott Boatwright.
What makes this particularly messy is the timing. Snowflake shares have surged almost 70% year-to-date, making any unauthorized guidance especially market-moving. The company has been riding the AI wave hard, with its cloud data platform becoming essential infrastructure for companies training large language models.
