Cloud software company Snowflake (SNOW) - Get SNOWFLAKE, INC. Report reported a second-quarter loss of 64 cents a share on revenue of $272.2 million, up 104% from a year earlier.
Snowflake CEO Frank Slootman told Jim Cramer on "Mad Money" that Snowflake doesn't create demand for its products, it enables it. A lot more is possible with Snowflake when technology no longer holds companies back, Slootman said.
Cramer told Action Alerts PLUS senior analyst Jeff Marks that Snowflake's 'pay as you go' use model will make it so every customer in the Fortune 500 is a customer.
"[Snowflake] is the way of the future, right now," Cramer said.
Recap TheStreet Live: Everything Jim Cramer Is Watching 8/26/21