--- title: "Snowflake denies Asos hackers' breach claim; the $1.65 billion January guide is the test" description: "Snowflake's \"no platform compromise\" statement is the same one that stood while 165 customer organizations were hacked in 2024. The extortion notice landed weeks before the quarter whose renewals carry most of Snowflake's contracts, and the January-quarter guide is due after the December 3 report date." publisher: "The Inference" section: "Money" published: 2026-10-09T01:13:11.400Z modified: 2026-10-09T01:13:11.400Z canonical: https://theinference.org/article/snowflake-denies-asos-hackers-breach-claim-the-1-65-billion-january-guide-is-the-test language: en keywords: "Snowflake, Cybersecurity, Data Breach, Earnings, Asos" --- # Snowflake denies Asos hackers' breach claim; the $1.65 billion January guide is the test > Snowflake's "no platform compromise" statement is the same one that stood while 165 customer organizations were hacked in 2024. The extortion notice landed weeks before the quarter whose renewals carry most of Snowflake's contracts, and the January-quarter guide is due after the December 3 report date. [The breach that matters is not the one being confirmed, it is the one being denied](https://theinference.org/article/asos-fell-13-after-hackers-turned-its-own-app-into-an-extortion-billboard). [On October 6, hackers hijacked Asos's own app](https://www.theguardian.com/business/2026/oct/06/asos-hack-notification-website-app) and sent customers a message addressed to the retailer's data protection officer: "we have fully compromised the [Snowflake](https://theinference.org/markets/companies/snowflake) instance. Engage with us, or we will leak it" [2]. Snowflake answered on October 7 that it has "found no compromise" of its platform and the investigation is ongoing [2]. Both statements can be true, and that is precisely where the money sits. ## The Asos bill is real but small Asos [confirmed on October 8](https://techcrunch.com/2026/10/08/asos-confirms-breach-of-customer-data-after-hackers-send-rogue-app-notification/) that names, home addresses, phone numbers, email addresses and profile notes such as search queries were taken from a third-party platform it uses to message customers [1]. It does not believe payment-card data or passwords were affected [1]. The Guardian reports shares closed down 9.56% on October 6, with the NCSC offering assistance and cyber insurers on the hook [4]. ## The 2024 precedent is the tell Two years ago the same defense worked and it did not save anyone's data. Attackers used stolen credentials against customer Snowflake accounts, hitting Ticketmaster, Santander and AT&T among [more than 165 compromised organizations](https://www.theregister.com/security/2026/10/06/asos-app-delivers-a-data-leak-threat-instead-of-fast-fashion/5301332), exposing billions of customer records and extracting about $2.5 million in ransoms; Snowflake's own platform was never breached [2]. So "no compromise of the platform" is technically accurate and commercially beside the point. The platform stays clean, the customer's instance bleeds, and Snowflake collects the subscription either way. That asymmetry is a feature of the business model, not a scandal, but it means this incident does not itself touch Snowflake's numbers. ## The stock does not trade on app notifications SNOW closed October 7 at $332.85, about 132 times next-twelve-months earnings, and reported a GAAP net loss of $0.55 a share in its July quarter [3]. Revenue has compounded from $942 million in the quarter ended October 31, 2024, to $1.547 billion in the quarter ended July 31, 2026, while the GAAP loss narrowed [5]. The stock moves on guidance, not headlines: one-day swings around recent reports ran from -11.41% to +36.48% [3]. *Chart: **Revenue up 64% in eight quarters, even as GAAP losses persist** Column chart of Snowflake quarterly revenue from the quarter ended October 31, 2024, through the quarter ended July 31, 2026, rising from $0.942B to $1.547B, with the latest quarter highlighted.* *Quarterly revenue, USD billions, GAAP, from SEC filings. The latest quarter ended July 31, 2026, is highlighted. Source: Snowflake SEC filings via company_series, October 8, 2026. [5]* ## What to watch, dated The October quarter closes October 31 and the CFO said in September that the majority of contracts land in the fourth quarter, which starts November 1 [3]. [Current guidance implies roughly $1.65 billion for the January quarter](https://finance.yahoo.com/markets/stocks/articles/snowflake-says-found-no-compromise-130858210.html) [3]. If that guide comes in under about $1.65 billion when Snowflake reports, expect a repeat of the 11.41% sell-off after the December 3, 2025, report, breach or no breach [3]. If a Snowflake customer instance is confirmed as the Asos source, renewals get a second question attached. The tell is the guide, not the statement. *Chart: **The January guide is the test: about $1.65 billion implied for the quarter that closes January 31** Column chart of Snowflake quarterly revenue from Q3 2024 through Q3 2026, with the January 2026 quarter shown as a company-implied estimate of about $1.65 billion.* *Quarterly revenue, USD billions, GAAP, from SEC filings; the January 2026 quarter (Q3 '26) is the company-implied guidance of roughly $1.65 billion, not a reported figure. Sources: Snowflake SEC filings via company_series and Yahoo Finance/TIKR, October 8, 2026. [5][3]* ## Takeaway Snowflake's "no compromise" defense held through 165 customer breaches in 2024 and its revenue kept compounding, so the Asos claim only becomes a Snowflake story if the January-quarter guide of roughly $1.65 billion comes in short on December 3. ## Sources 1. [TechCrunch, Asos confirms breach of customer data after hackers send rogue app notification, 8 October 2026](https://techcrunch.com/2026/10/08/asos-confirms-breach-of-customer-data-after-hackers-send-rogue-app-notification/) 2. [The Register, Asos app delivers a data leak threat instead of fast fashion, 6 October 2026](https://www.theregister.com/security/2026/10/06/asos-app-delivers-a-data-leak-threat-instead-of-fast-fashion/5301332) 3. [Yahoo Finance / TIKR, Snowflake Says It Found No Compromise After the ASOS Hack Claim, 8 October 2026](https://finance.yahoo.com/markets/stocks/articles/snowflake-says-found-no-compromise-130858210.html) 4. [The Guardian, Asos warns customer data may be compromised after 'unauthorised' app access, 6 October 2026](https://www.theguardian.com/business/2026/oct/06/asos-hack-notification-website-app) 5. [Snowflake, quarterly figures from its SEC filings, retrieved via company_series, 8 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001640147) --- Snowflake denies Asos hackers' breach claim; the $1.65 billion January guide is the test — The Inference. Canonical: https://theinference.org/article/snowflake-denies-asos-hackers-breach-claim-the-1-65-billion-january-guide-is-the-test