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- Snowflake filed an 8-K after an exec gave financial guidance in an influencer's video.
- The data-storage company said investors "should not rely upon such statements."
- The executive identified himself as CRO Mike Gannon in the video.
There are countless videos of financial advice on TikTok. Only rarely does one end up in a Securities and Exchange Commission filing.
Data-storage company Snowflake filed an 8-K with the SEC on Monday after an executive spoke to an influencer who posts under the account name "theschoolofhardknockz" on Instagram and TikTok. Though the filing doesn't name the executive, he identifies himself as Chief Revenue Officer Mike Gannon in the video, which had more than 555,000 views on TikTok and nearly 138,000 likes on Instagram as of Wednesday afternoon.
The filing said that the executive made statements about Snowflake's future financial results, but is "not a designated spokesperson authorized to disclose financial information on behalf of the Company." Companies file 8-Ks to announce significant events that shareholders need to know.
In the video taken outside the New York Stock Exchange, Gannon said that Snowflake will exit the year with just over $4.5 billion in revenue and that "we're getting to $10 billion in a couple of years."
Investors, Monday's filing noted, "should not rely upon such statements."
Snowflake reaffirmed its third-quarter and fiscal year 2026 guidance, first issued in August. The report's guidance of $4.395 billion in revenue for the year was more than $100 million less than Gannon's estimate. Gannon and James Dumoulin, the content creator, did not respond to a request for comment, and a representative for Snowflake referred Business Insider to its 8-K filing.
Dumoulin interviews millionaires on his social media accounts and has 5.6 million followers on TikTok alone. In his interview, Gannon said he watches the videos "all the time."
