Operator: Our next question is with Derrick Wood from Cowen & Company.
Derrick Wood : Great. I always like that you guys highlight the average G2K spend, I think you said it was $1.3 million. As you look at other companies that are more mature, have larger revenue scale or even as you look at your own more mature customers, what do you think the longer-term level of spend out of an average G2K customer could be down the road? And then I guess, more specific to the quarter, you did have a strong G2K add, strongest in five quarters. Are you seeing any pickup in migration activity or anything to call out in terms of strength this quarter?
Mike Scarpelli: Yes. I’ll just say on the G2K, there’s no reason why a G2K can’t spend well north of $10 million a year on Snowflake and that’s a conservative number. But it will take time to get there. This is really a marathon. It’s not a sprint for our customers, and it will take time. And we are starting to see very large customer relationships. We did sign a $100 million contract in the quarter, again, with an existing customer on renewal, and we will have $100 million plus contracts this quarter in Q4 with customers that I know are running out of credits and want to lock in for long term. So it’s just going to take time to grow these customers. Just like it took us, I think Capital One is one of our — is our largest customer.
It’s taken them 5.3 years to get to where we are now. Most of our top 10 customers, with the exception of 1 in 4.5, 5 years old customers to get into that top 10. And we think that trend will continue that it will take customers that long to ramp to get to those sizes. And then sorry, Derrick, what was the second part of your question.
Derrick Wood : Just the strength in the G2K adds in the quarter and if there was anything to call out, if you’re seeing perhaps a pickup in kind of legacy migration activity.
Mike Scarpelli: No. What I want to remind you, though, too, is selling into a Global 2000 is not a one or two-quarter event. These are one to two-year sales cycles. So it wasn’t surprising to us that we landed these. We’ve been working on these for quite some time, just like we have a very healthy pipeline of 1 for all of next year. What quarter they’ll land in is really hard to say. But even if I land them, it takes me six, nine months to ramp them. But we’re very focused on those, and we know who they all are, and we have reps assigned to them.
Operator: Our next question is with Sterling Auty from SVB.
Sterling Auty: I’m just wondering with the macro uncertainty, if you’re seeing any customer behavior changes in terms of the type of data that they’re ingesting or even if they modify and reduce some of the data ingestion that maybe they were doing previously?
Frank Slootman : This is Frank. Not really seeing that. We have done a lot of traveling during the quarter inside and outside the country. And I think one of the sentiments that I want to mention is that we’re sort of past — sort of the bleeding edge earlier adopter class customers that we have acquired over the last, whatever, five, six, seven years. And we’re now into the people that didn’t sign up early on. And their overriding sentiment is a sense of somewhat a fear of missing out. And they’re looking at us like we can’t be left behind, help us catch up. And a lot of times, the challenges around that are based on their ability to harness the technology in terms of the skills and the expertise. So in other words, our mix of tools is going to evolve to really help customers address that gap because of anything they want to accelerate they want to lean in, they want to move faster.
They literally overriding sentiment is we’re afraid to be left behind. This is how important this is. And they are clearly identifying what they think is holding them up in terms of getting there.
