Hypergrowth Continues in Snowflake’s Q1 2021

Years ago, I used to wish that Amazon would spin off AWS, or Microsoft would spin off Azure, allowing me to invest in their cloud services without also having to invest in all the other low margin things Microsoft and Amazon do. But last year, something better came along. That something is Snowflake, a leader and pioneer of the “data cloud”. Snowflake hit a big milestone in this quarter of processing more than 1 billion queries in a single day!

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High Fiverr(s) All Around

One of the best earnings reports I’ve seen in this earnings season was from Fiverr. This is mainly because they changed growth cohorts. For this year, previously they were guiding for 46%-50% YoY growth, but now they have updated their forecast to 59%-63% YoY growth! For comparison, Crowdstrike, my highest conviction stock, is “only” forecasting growth at 64% for 2021 (but to be totally fair, CRWD hasn’t reported Q1 yet and so will also likely beat/raise their guidance.)

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