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      "text": "Billings Terms: Typically Upfront. Snowflake typically bills customers annually in advance for capacity contracts. Some customers consume on-demand. Pros: Bookings represent contractual minimum, variable consumption creates upside. Consider: Payment terms are evolving.",
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      "text": "Revenue Recognition: Consumption. Snowflake recognizes the substantial majority of its revenue as customers consume the platform. Pros: Faster growth, aligned with customer value, aligned with usage-based costs. Consider: Revenue is variable.",
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      "text": "Pricing Model: Consumption. The platform is priced based on consumption of compute, storage, and data transfer resources. Pros: No shelf-ware. Consider: Performance improvements reduce customer cost.",
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