Snowflake vs Cloudflare
Growth re-accelerating on AI workloads — a franchise, not a blitz anymore. 22 straight quarters of growth — the reason it is 3 points short is all in the demerits.
Snowflake by 11
| Item | Max | Snowflake | Cloudflare |
|---|---|---|---|
| Blitz Index total | / 100 | 76 | 65 |
| Grade | — | B | B |
| A · Speed | / 25 | 19 | 19 |
| B · Moat | / 60 | 43 | 39 |
| C · Creative destruction | / 15 | 14 | 11 |
| D · Demerits | / 30 | 0 | -4 |
The success line is 65. Demerits (section D) are subtracted; a demerit total of 15 or more flags a company for BlitzFailing watch. Scores as of the 2026 Q4 review.
Verdict — business structure only
Snowflake leads (76 vs 65) with identical speed (19) — the gap is moat, creative destruction and demerits. Both are fast: Snowflake at +35% YoY in Q2 FY2027 with a 126% NRR, Cloudflare at +35.9% with 22 straight quarters of growth. Snowflake's moat (43) is a mature data-sharing network (828 $1M+ customers, 67% gross margin) against Cloudflare's (39) DBNRR of 120% and a $2.73B RPO. Snowflake's creative destruction (14) is near-perfect — the on-premise to cloud migration is done — while Cloudflare's (11) is a second curve still being built (Workers + Workers AI, the Agentic Internet). Cloudflare's demerits (−4, founder voting control and 20.8% SBC) cost it 4 points against Snowflake's clean 0 — the structural difference is a finished migration against an unfinished second curve.
Key figures
| Snowflake | Figure |
|---|---|
| Growth | Q2 FY2027 +35% YoY ($1.547B) |
| NRR | 126% |
| $1M+ customers | 828 |
| Cloudflare | Figure |
|---|---|
| Growth | Q2 +35.9% YoY; 22 straight quarters |
| RPO | $2.73B (+35%) |
| $100k+ customers | 4,698 (+26.5%) |
Key figures are from the companies' published score files (the scorecard's English summary). A figure is shown only where the score file states it.
Full scorecards: Snowflake — Blitz Index 76 · Cloudflare — Blitz Index 65
Latest research — Snowflake: read the article
Run your own pairing: open this pair in the interactive compare tool, or pick any two of the 157 scored companies.
How to read this
Both companies passed the same two gates before scoring: real product-market traction (G1), and a ten-year market ceiling of at least ten times current revenue (G2). The Blitz Index then grades speed (25), moat (60) and creative destruction (15), and subtracts BlitzFailing demerits (up to −30) for debt, revenue quality, governance and regulatory cost. The model is frozen at v1.0; past scores are never silently rewritten. Our own pre-registered tests found the score measures business quality — it does not predict stock returns.
Research only — not investment advice. Scores measure blitzscaling strategy from public data. Not a recommendation to buy, sell, or hold any security.