What were the key takeaways from Snowflake's earnings call?

What were the key takeaways from Snowflake’s earnings call?

What is Snowflake's gross profit margin?

What is the revenue and EPS growth rate for Snowflake year over year?

What factors drove the changes in Snowflake's revenue and profit?

What is the market's earnings forecast for Snowflake next quarter?

What is Snowflake's latest dividend and current dividend yield?

Did Snowflake beat or miss consensus estimates last quarter?

- **30% Revenue Growth**: Q4 product revenue up 30% YoY to $1.23B, driven by AI and core expansion.
- **AI Adoption Surge**: Snowflake Intelligence in 2,500 accounts (QoQ doubling), Cortex Code in 4,400 customers.
- **Margin Expansion**: FY26 operating margin 10.5%, FY27 guided to 12.5% with 23% free cash flow margin.
- **Strategic Acquisitions**: Observe ($600M) expands into IT operations, contributing 1% FY27 growth.
- **Customer Momentum**: 740 net new customers (40% YoY), 56 >$10M spenders (56% YoY growth).
- **AI Efficiency**: 5x faster service delivery, 25% accuracy improvements, $5M cost savings via agents.


**【CEO Summary Section】**
- Q4 product revenue grew 30% YoY to $1.23 billion, driven by AI workloads and core business expansion.
- Remaining Performance Obligations (RPO) reached $9.77 billion, up 42% YoY, with 125% Net Revenue Retention (NRR).
- Snowflake Intelligence adoption doubled to 2,500 accounts, while Cortex Code CLI expanded to 4,400 customers.
- Strategic partnerships with OpenAI, Google Cloud, and SAP enhance model choice and data governance.
- FY26 non-GAAP operating margin expanded to 10.5%, with stock-based compensation declining to 34% of revenue.
- AI-driven efficiency improvements include 5x faster service delivery and 25% accuracy improvements.

**【CFO Financial Commentary】**
- Q4 GAAP net income was $420 million, with non-GAAP EPS exceeding expectations.
- FY27 guidance: $5.66 billion in product revenue (27% YoY growth), 12.5% non-GAAP operating margin, and 23% adjusted free cash flow margin.
- Observe acquisition ($600M) contributes 1% to FY27 revenue growth, with 150bps headwind to free cash flow.
- Signed 7 9-figure contracts (vs. 2 last year) and added 740 net new customers (40% YoY growth).
- 56 customers now spend >$10M annually, up 56% YoY.

**【Q&A Highlights】**
- **$400M Deal**: Largest in Snowflake history, reflecting trust in long-term AI strategy.
- **AI Momentum**: Snowflake Intelligence adoption doubled QoQ, with agents replacing legacy systems (e.g., $5M dashboarding costs reduced to zero).
- **Operational Efficiency**: Service delivery cycles compressed from 20 days to 16 weeks using Cortex Code.
- **Market Expansion**: Observe acquisition targets $50B IT operations market, integrating observability with AI.
- **Customer Expansion**: 27% YoY growth in >$1M spenders, 56% YoY growth in >$10M spenders.
- **AI Pricing**: Per-user caps and identity integration ensure predictable consumption-based pricing.


Snowflake Inc.(SNOW)-20260226-2026 Q4 Earnings call transcript

- **Revenue Growth Accelerates**: Q3 product revenue up 29% YoY to $1.16 billion, driven by AI and data engineering workloads.
- **AI Adoption Soars**: $100 million AI revenue run rate achieved 1 quarter early, with 1,200 customers using Snowflake Intelligence.
- **Strong Margins and Cash Flow**: 11% operating margin, 75.9% gross margin, and $4.4 billion cash reserves.
- **Customer Expansion**: 615 new logos and 50% of bookings incorporating AI, signaling enterprise-wide adoption.
- **Strategic Momentum**: Partnerships with SAP, Anthropic, and zero-copy data sharing drive ecosystem leadership.

**【CEO Summary Section】**
- Product revenue reached $1.16 billion, up 29% year-over-year, driven by core business growth and AI workloads.
- Remaining Performance Obligations (RPO) totaled $7.88 billion, growing 37% YoY, with 615 new customers added.
- AI revenue run rate hit $100 million, 1 quarter ahead of schedule, with 1,200 customers using Snowflake Intelligence.
- 50% of Q3 bookings included AI, and 28% of use cases incorporated AI, reflecting strong customer adoption.
- Strategic partnerships with SAP, Workday, and Anthropic expanded ecosystem integration and go-to-market reach.

**【CFO Financial Commentary】**
- Non-GAAP product gross margin was 75.9%, with operating margin expanding 450 basis points to 11%.
- Q4 guidance: Product revenue $1.195-$1.2 billion (27% YoY growth), FY26 product revenue $4.446 billion (28% YoY growth).
- Free cash flow margin target of 25% for FY26, with $233 million used for share repurchases in Q3.
- Cash reserves of $4.4 billion support strategic investments and growth initiatives.

**【Q&A Highlights】**
- Snowflake Intelligence adoption accelerated, with 7,300 accounts using AI weekly and 1,200 customers leveraging agentic AI capabilities.
- AI influenced 50% of new bookings, with use cases spanning finance, manufacturing, and customer engagement.
- Zero-copy data sharing partnerships (e.g., ServiceNow, SAP) enhance ecosystem collaboration and customer value.
- Migrations from legacy systems contributed to growth, with Datometry acquisition streamlining data migration processes.
- FY26 guidance raise reflects confidence in consumption-based model and customer retention (125% NRR).

Snowflake Inc. (SNOW) Q3 2026 Earnings Call Transcript

- **Revenue Acceleration**: Q2 product revenue up 32% YoY to $1.09B, with NRR at 125%.
- **AI Innovation Lead**: 250+ new features launched, including Snowflake Intelligence and Cortex AI SQL, driving 25% of use cases to involve AI.
- **Azure Growth Surge**: Azure-based revenue grew 40% YoY, fastest-growing cloud platform for Snowflake.
- **Updated Guidance**: FY26 product revenue raised to $4.395B (27% YoY), with Q3 revenue expected $1.125B-$1.13B.
- **Customer Expansion**: 533 new customers added in Q2, including 15 Global 2000 companies, with 654+ $1M+ customers targeted.

**【CEO Summary Section】**
- Q2 product revenue reached $1.09 billion, up 32% YoY, with net revenue retention (NRR) at 125%.
- Introduced 250+ new features, including Snowflake Intelligence (public preview), Cortex AI SQL, Gen2 warehouses, and Snowflake Postgres.
- AI-driven use cases now account for 25% of all deployments, with 6,100+ accounts using Snowflake AI weekly.
- 40% of customers are actively sharing data on Snowflake, driving network effects.
- Snowflake Summit 2025 drew record attendance of 22,000+ participants, underscoring ecosystem momentum.

**【CFO Financial Commentary】**
- Q2 non-GAAP operating margin expanded to 11%, up from 8% in Q1.
- FY26 guidance updated to $4.395 billion in product revenue (27% YoY growth), with non-GAAP operating margin of 9%.
- Q3 product revenue expected between $1.125 billion and $1.13 billion (25-26% YoY growth).
- Azure cloud growth accelerated to 40% YoY, driven by Microsoft partnerships and EMEA expansion.
- 533 new customers added in Q2, including 15 Global 2000 companies.

**【Q&A Highlights】**
- **Azure Growth**: Azure-based customers grew 40% YoY, fastest-growing cloud platform for Snowflake.
- **AI Adoption**: 50% of new logos cite AI as a key driver, with 25% of use cases involving AI.
- **Sales Expansion**: Added 529 employees (364 in sales/marketing) in Q2, targeting 654+ $1M+ customers by end of FY26.
- **Competitive Position**: Snowflake's ease of use, governance, and AI integration differentiate it from competitors like Databricks and Microsoft Fabric.
- **Long-Term Vision**: Snowflake aims to become the enterprise AI platform of record, with AI representing 50%+ of future growth opportunities.

Snowflake Inc. (SNOW) Q2 2026 Earnings Call Transcript

- **Revenue Surge**: Q1 product revenue up 26% YoY to $997M, with RPO growing 34% to $6.7B and NRR at 124%.
- **AI Leadership**: Over 5,200 accounts using AI weekly, Snowflake launched 125+ new features Q1, including Cortex Agent for unstructured data.
- **Margin Expansion**: Operating margin jumped to 9% (vs. 4% last year), with free cash flow margin at 20%.
- **Government Play**: Snowflake Public Sector Inc. secures DoD contracts, targeting $100M+ in federal opportunities.
- **Share Buybacks**: $491M in share repurchases Q1, with $1.5B remaining under buyback program.
- **FY26 Guidance**: Revenue updated to $4.325B (+25% YoY), reflecting strong customer demand and AI-driven growth.

**【CEO Summary Section】**
- **Revenue Growth**: Product revenue reached $997 million, up 26% YoY (28% excluding leap year). Remaining Performance Obligations (RPO) totaled $6.7 billion (+34% YoY), with Net Revenue Retention (NRR) at 124%.
- **AI and Cortex Momentum**: Over 5,200 accounts use AI/ML weekly. Snowflake launched 125+ new product capabilities Q1, including Apache Iceberg support and Cortex Agent for unstructured data processing. Customers like Samsung and AstraZeneca leverage Snowflake for AI-driven insights.
- **Market Expansion**: Launched Snowflake Public Sector Inc. for U.S. Department of Defense and introduced automotive solutions for CarMax and Nissan. Snowflake Summit (June 2025) will reveal new innovations.

**【CFO Financial Commentary】**
- **Q1 Financials**: GAAP net income $420M, Non-GAAP EPS $1.08 (vs. $0.98 consensus). Non-GAAP product gross margin 75.7%, operating margin 9% (up 442bps YoY). Adjusted free cash flow margin 20%.
- **Guidance**: Q2 product revenue $1.035B-$1.04B (+25% YoY). FY26 revenue updated to $4.325B (+25% YoY). Free cash flow weighted towards H2 due to large customer consumption patterns.
- **Share Buybacks**: Repurchased $491M of shares (3.2M shares) in Q1, with $1.5B remaining under current authorization.

**【Q&A Highlights】**
- **AI Adoption**: 451 net new customers added Q1, with tech and retail sectors driving growth. Snowpark and Dynamic Tables outperformed expectations.
- **Government Opportunity**: Snowflake targets U.S. Department of Defense with DOGE Impact Level authorization, positioning for cross-department data sharing.
- **Competitive Landscape**: Snowflake differentiates via end-to-end data lifecycle support, ease of use, and partnerships (e.g., Microsoft Azure for OpenAI models).
- **Operational Efficiency**: Operating margin improved to 9% Q1 vs. 4% Q1 FY25, driven by cost control and efficient scaling.


Snowflake Inc. (SNOW) Q1 2026 Earnings Call Transcript

- **Revenue Growth Outperforms**: Q4 product revenue up 28% YoY to $943M, FY25 total product revenue $3.5B (30% YoY). RPO grows 33% YoY to $6.9B.
- **AI Innovation Accelerates**: Launch of Cortex Agents and Microsoft partnership for OpenAI models positions Snowflake as leader in AI-driven data platforms. Over 4,000 weekly AI/ML users.
- **Customer Expansion**: NRR at 126%, with SnowConvert migrations saving >50% costs. Snowpark contributes 3% of FY25 revenue, Iceberg adoption driving new use cases.
- **FY26 Outlook**: 24% YoY product revenue growth, operating margin expansion to 8%, and SBC as % of revenue declining to 37%.
- **Large Customer Momentum**: Q4 saw several large customers exceed capacity, signaling strong consumption trends and future renewal potential.


**【CEO Summary Section】**
- **Revenue Growth**: Q4 product revenue reached $943M (28% YoY), with FY25 total product revenue of $3.5B (30% YoY). Remaining Performance Obligations (RPO) grew 33% YoY to $6.9B.
- **AI & Product Innovation**: Introduced Cortex Agents, enabling seamless task execution across structured/unstructured data. Expanded partnership with Microsoft to integrate OpenAI models into Snowflake Edge. Over 4,000 customers now use AI/ML weekly.
- **Customer Success**: Net Revenue Retention (NRR) at 126%, with SnowConvert migrations saving customers >50% costs. Snowpark contributed 3% of FY25 revenue, and Iceberg adoption is driving new use cases.
- **Go-to-Market Momentum**: 20,000+ attendees at Build Summit, with growing adoption of data sharing (e.g., Stripe, NTT with 160+ connections).

**【CFO Financial Commentary】**
- **FY25 Financials**: Non-GAAP operating margin 6%, adjusted free cash flow margin 26%. FY25 product gross margin 76%, stable vs. prior year.
- **FY26 Guidance**: Q1 product revenue $955M-$960M (21-22% YoY), FY26 product revenue $4.28B (24% YoY). Non-GAAP operating margin expected to expand to 8%.
- **Efficiency Initiatives**: Reduced SBC as % of revenue to 37% in FY26 (from 41% in FY25). FY25 share buybacks of $1.9B, with $2B remaining under repurchase plan.
- **Large Customer Dynamics**: Several Q4 customers exhausted capacity ahead of contract renewal, but expect renewed commitments in coming months.

**【Q&A Key Themes】**
- **AI Adoption**: Snowflake Intelligence and Cortex Agents expected to drive 2H26 growth, with 400+ product launches in FY25. AI SQL and multimodal capabilities are unlocking new use cases in marketing, supply chain, and healthcare.
- **Partnerships**: Deepening ties with Microsoft (OpenAI integration), ServiceNow, and SAP to create seamless data workflows. SnowConvert now free for Oracle/Teradata migrations.
- **Iceberg Impact**: Shifting from theoretical to actual revenue, with Snowflake benefiting from broader data access without compromising security.
- **Sales Strategy**: Specialized teams for high-impact use cases (e.g., Clean Rooms, data engineering). SE teams using AI tools (e.g., sales knowledge assistant) to accelerate deal closure.


Actual	-0.28	-0.1565	-0.1173	-0.0413	0.037	0.121	0.0758	0.0074	0.11	0.14	0.15	0.22	0.25	0.35	0.14	0.18	0.2	0.3	0.24	0.35	0.35	0.32
Forecast	-0.2608	-0.1693	-0.1548	-0.1475	-0.057	0.0281	0.0013	-0.0119	0.0459	0.0433	0.0785	0.1039	0.1591	0.1822	0.1785	0.161	0.1519	0.1765	0.2124	0.267	0.3116	0.2725
Surprise	-7.36%	+7.56%	+24.22%	+72.00%	+164.91%	+330.60%	+5730.77%	+162.18%	+139.65%	+223.33%	+91.08%	+111.74%	+57.13%	+92.10%	-21.57%	+11.80%	+31.67%	+69.97%	+12.99%	+31.09%	+12.32%	+17.43%

SNOW

SNOW fundamentals

SNOW Q4 2026 Earnings

Earnings Call

You can ask Aime

SNOW

SNOW fundamentals

SNOW Q4 2026 Earnings

Earnings Call

SNOW Earnings Call Summary for Q4/20265:00 PM on Feb 25, 2026

SNOW Earnings Call Summary for Q3/20265:00 PM on Dec 3, 2025

SNOW Earnings Call Summary for Q2/20265:00 PM on Aug 27, 2025

SNOW Earnings Call Summary for Q1/20265:00 PM on May 21, 2025

SNOW Earnings Call Summary for Q4/20255:00 PM on Feb 26, 2025

You can ask Aime