Snowflake Inc. (SNOW) Earnings History

Snowflake Inc. - Q4 FY2026 Earnings

Filed at: Feb 25, 2026, 4:07 PM EST|Read from source

EXECUTIVE SUMMARY

Snowflake reported strong Q4 FY2026 results with significant year-over-year revenue growth driven by product revenue and customer acquisition. The company highlighted its central role in the enterprise AI revolution and its focus on customer expansion and operational rigor for sustained growth.

POSITIVE HIGHLIGHTS

  • •

    Product revenue grew 30% year-over-year to $1.23 billion in Q4 FY2026.

    positive
  • •

    Net revenue retention rate remained strong at 125%.

    positive
  • •

    Number of customers with trailing 12-month product revenue greater than $1 million grew 27% year-over-year to 733.

    positive
  • •

    740 net new customer additions, representing 40% year-over-year growth, marking the strongest quarter ever for net new customer acquisition.

    positive
  • •

    Remaining performance obligations (RPO) totaled $9.77 billion, up 42% year-over-year.

    positive
  • •

    Non-GAAP operating margin improved to 11% in Q4 FY2026 from 9% in Q4 FY2025.

    positive
  • •

    Non-GAAP adjusted free cash flow margin was 61% for Q4 FY2026.

    positive

CONCERNS & RISKS

  • •

    GAAP operating loss widened to $318.2 million in Q4 FY2026 from $386.7 million in Q4 FY2025, indicating continued unprofitability on a GAAP basis.

    negative
  • •

    GAAP net loss attributable to Snowflake Inc. was $309.6 million in Q4 FY2026, a slight improvement from $327.5 million in Q4 FY2025.

    negative
  • •

    GAAP research and development expenses increased to $511.0 million in Q4 FY2026 from $492.5 million in Q4 FY2025, representing 40% of revenue.

    attention
  • •

    GAAP sales and marketing expenses increased to $551.3 million in Q4 FY2026 from $432.7 million in Q4 FY2025, representing 43% of revenue.

    attention

FINANCIAL METRICS

Revenue
Quarterly
$1.28B
+30.0%
Prior year: $986.77M
Annual (YTD)
$4.68B
N/A
Prior year: $3.63B
Net Income
Quarterly
$374.00
N/A
EPS (Diluted)
Quarterly
$-0.90
+9.1%
Prior year: $-0.99
Operating Income
Quarterly
$-318.16M
+17.7%
Prior year: $-386.68M
Annual (YTD)
$-1.44B
N/A
Prior year: $-1.46B
EPS (Basic)
Quarterly
N/A
N/A

MARGIN ANALYSIS

Gross Margin
Current Quarter
66.8%
Prior Year
66.2%
YoY Change
+60 bps
Operating Margin
Current Quarter
-24.8%
Prior Year
-39.2%
YoY Change
+1440 bps
Net Margin
Current Quarter
-24.1%
Prior Year
-33.2%
YoY Change
+910 bps

Margin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.

REVENUE BY SEGMENT — Q4 FY2026 2026

VISUAL OVERVIEW

|
Product revenue
0.0%
N/A
Professional services and other revenue
0.0%
N/A

DETAILED BREAKDOWN

|
SegmentCurrentPrior YrYoY% Total
Product revenue
N/A———
Professional services and other revenue
N/A———
Total Revenue$0.00M——100.0%

Segment performance shows business unit health and growth drivers.

MANAGEMENT GUIDANCE

FY2027

Product revenue
$5660000.0B
"27% year-over-year growth"
Non-GAAP product gross profit
75
"% margin"
Non-GAAP operating income
9—12.5
Mid-point: 10.75
"% margin"
Non-GAAP adjusted free cash flow
23
"% margin"

Q1 2027

Product revenue
$1262000.0B—$1267000.0B
Mid-point: $1264500.0B
"27% year-over-year growth"

Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.

MANAGEMENT COMMENTARY

Snowflake sits at the center of the enterprise AI revolution, building the foundation for safe and scalable AI.

— Snowflake Inc., Q4 FY2026 2026 Earnings Call

The company is focused on driving stability and operational rigor to support sustained, long-term growth.

— Snowflake Inc., Q4 FY2026 2026 Earnings Call

Strong new logo momentum and deepening engagement across the customer base are key drivers.

— Snowflake Inc., Q4 FY2026 2026 Earnings Call

Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.

OPERATIONAL METRICS

Customers Over 1m T12m Revenue
733
+27.0% YoY
customers
Forbes Global 2000 Customers
N/A
+5.0% YoY
customers
Net New Customers
740
+40.0% YoY
customers
Net Revenue Retention Rate
125
%

Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.

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