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- **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