Snowflake anticipates a 24% increase in product revenue for fiscal 2026.

Snowflake is optimistic about its product revenue in fiscal 2026, expecting a 24% increase to $4.28bn, topping analysts' expectations of $4.21bn, driven by the growth in cloud services demand fueled by AI advancements. The company's total revenue in the fourth quarter of fiscal 2025 was $986m, topping analysts' expectations. Adjusted EPS was $0.30, topping analysts' expectations of $0.18. The company has integrated OpenAI's models directly into its fully managed AI service Snowflake Cortex AI. Snowflake's data cloud is gaining popularity among companies looking to harness AI services to organize massive amounts of data. CFO Michael Scarpelli is retiring but will stay on until a successor is found, after which he will serve as an advisor. Snowflake's first-quarter product revenue is expected to be between $955m and $960m, topping market expectations.