🔹 Revenue: $1.04B (Est. $1.01B) 🟢; UP +26% YoY
🔹 Adj EPS: $0.24 (Est. $0.21) 🟢
FY26 Guidance:
🔹 Product Revenue: $4.325B (Est. $4.18B) 🟢; UP +25% YoY
🔹 Product Gross Margin: 75%
🔹 Operating Margin: 8%
🔹 Adjusted Free Cash Flow Margin: 25%
🔹 Weighted Avg. Diluted Shares: ~372M
Q2'26 Guidance:
🔹 Product Revenue: $1.035B – $1.040B (Est. $1.01B) 🟢
🔹 Operating Margin: 8%
🔹 Weighted Avg. Diluted Shares: ~371M
Other Key Q1 Metrics:
🔹 Product Revenue: $996.8M; UP +26% YoY
🔹 Product Gross Profit: $754.1M; Margin: 76%
🔹 Adj Oper Income: $91.7M; Margin: 9%
🔹 Net Cash from Operating Activities: $228.4M; UP +22% YoY
🔹 Adj Free Cash Flow: $206.3M; UP +20% YoY
🔹 Remaining Performance Obligations: $6.7B; UP +34% YoY
🔹 Net Revenue Retention Rate: 124%
🔹 Customers with TTM Product Revenue > $1M: 606; UP +27% YoY
🔹 Forbes Global 2000 Customers: 754; UP +4% YoY
CEO Sridhar Ramaswamy Commentary:
🔸 "Snowflake delivered another strong quarter with 26% YoY growth in product revenue and a 34% increase in RPO. Our platform’s ease of use, scalability, and trust for enterprise-grade performance continue to drive adoption across industries. We see enormous opportunity ahead as we extend our value throughout the full data lifecycle, including AI."