Snowflake, Inc. ( (SNOW) ) has released its Q2 earnings. Here is a breakdown of the information Snowflake, Inc. presented to its investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Snowflake, Inc. is a leading company in the AI Data Cloud sector, providing a platform that enables enterprises to harness data and artificial intelligence for innovation and value creation.
In its latest earnings report for the second quarter of fiscal 2026, Snowflake announced a significant 32% year-over-year growth in product revenue, reaching $1.09 billion. The company also reported a net revenue retention rate of 125% and highlighted its strong customer base, including 654 customers with over $1 million in trailing 12-month product revenue and 751 Forbes Global 2000 customers.
Key financial metrics from the report include a product gross profit margin of 72% on a GAAP basis and 76% on a non-GAAP basis. Despite an operating loss of $340.3 million on a GAAP basis, the company achieved a non-GAAP operating income of $127.6 million, reflecting an 11% margin. Snowflake’s remaining performance obligations grew by 33% year-over-year to $6.9 billion, indicating strong future revenue potential.
Looking ahead, Snowflake’s management remains optimistic about the company’s growth trajectory, emphasizing the vast opportunities in empowering enterprises through data and AI. The company projects continued revenue growth and strategic expansion, aiming to further solidify its position in the AI Data Cloud market.