How much of Snowflake’s revenue comes from haram?

Snowflake earns its revenue from the following revenue sources:

  • Product Revenue:

Snowflake provides a cloud-based data platform that enables businesses to manage and store data and offers computing solutions. 

  • Professional Services and Other:

Includes consulting services, on-site technical solutions, and training services related to its platform.

The contributions from each of Snowflake’s revenue segments in their 2020 annual report were as follows:

Practical Islamic Finance concludes:

None of Snowflake’s revenue comes from anything inherently haram.

Does Snowflake rely on interest to operate?

Year-to-Date
for period ended
4/30/2021
Fiscal year
ended
1/31/2021
Fiscal year
ended
1/31/2020
Interest Income $2,612$7,507$11,551
Total Revenue$228,914$592,049$264,748
Interest Expense
Total Expenses$434,509$1,135,986$622,836
Interest Income / Revenue1.14%1.27%4.36%
Interest Expense / Total Expense
*Numbers in thousands, U.S. dollars

Practical Islamic Finance concludes:

Riba is used but not relied upon in Snowflake’s operations.

What is Snowflake’s Environmental, Social, and Governance (ESG) impact?

Environment

No notable environmental highlights.

Social

Snowflake has a high Glassdoor rating of 4.2 out of 5.0 from over 150 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.

Governance

No notable governance highlights. 

Practical Islamic Finance concludes:

Snowflake has a net positive ESG impact.

Comfort Rating

From Snowflake’s business, financial, and ESG reviews, Practical Islamic Finance rates Snowflake stock as:

Comfortable to invest in from a Halal perspective.

Sources

Key Concepts & Architecture — Snowflake Documentation

Snowflake 2021 Q1 10-Q

Snowflake 2021 Annual Report 

Snowflake Reviews