Call us now:
Has the Snowflake cyber attack contributed to a material risk to Snowflake? This article makes good points about the challenges ahead for snowflake. If correct sales and marketing costs are 46% of revenue and R&D is 50%, and the company is reporting ‘brutal losses’. How does the company achieve profitability?
While the cyber attack may not have caused a drop off in the companies share price. Under the SEC cyber rule, is it such a leap of faith to say the cyber attack has contributed to a material risk to its balance sheet. Profitability is dependent upon brand and reputation. As a data management company cybersecurity is a critical dependency for client security?
With it’s share price dropping over $100 from peaks of around $220 in quarter 1 2024. Some of this drop has been attributed to the cyber attack the company underwent earlier this year. An attack that affected Snowflakes clients and an attack that will have dug into profits (cyber coverage gap). AT&T reported to the SEC in July that it had suffered a data breach effecting customers data at several of its clients.
https://lnkd.in/e7BV-bFf
Cyber attack affects many aspects of a companies financial statements and one wonders the effect of the cyber attack on corporate confidence, cashflow and market sentiment?
@Thaddeus Dziekanowski Brian D. McCarthy Rachel V. Rose, JD, MBA
Veritas GRC Snowflake
#cybersecurity #cyberriskmanagement
View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7235562900344504322