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Snowflake (SNOW)
NYSE:SNOW
Earnings Data
Report Date
May 27, 2026After Close (Confirmed)
Period Ending
2027 (Q1)Consensus EPS Forecast
0.32Last Year’s EPS
0.24Same Quarter Last Year
Strong Buy
Based on 34 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented multiple strong operating and financial highlights: robust revenue growth (30% YoY in Q4), accelerated RPO (+42% YoY), healthy net revenue retention (125%), material customer additions and expansion (notably more customers spending >$1M and >$10M TTM), rapid adoption of AI products (Snowflake Intelligence, Cortex Code), margin expansion in FY'26 and strong free cash flow. Guidance for FY'27 targets continued durable growth (~27% YoY) and further margin improvement (12.5% non-GAAP operating margin), while acknowledging manageable headwinds from the Observe acquisition, slightly lower gross margin guidance (~75%), and risks around AI consumption unpredictability and customer 'sticker shock.' Overall, the positives — including product traction, large deal momentum, and margin discipline — substantially outweigh the manageable near-term challenges.Company Guidance
Strong Q4 Product Revenue Growth
Product revenue in Q4 grew 30% year-over-year to $1.23 billion, driven by stable core growth and a step-up from AI workloads.
Large and Accelerating Backlog (RPO)
Remaining performance obligations (RPO) totaled $9.77 billion, with year-over-year growth accelerating to 42%, indicating strong forward bookings and contract visibility.
High Net Revenue Retention
Net revenue retention remained healthy at 125%, reflecting successful expansion within the existing customer base.
Customer Adds and Expansion
Added 2,332 net new customers for the fiscal year and 740 net new customers in Q4 (up 40% year-over-year). Total customers exceed 13,300. Customers spending >$1M TTM grew to 733 (up 27% YoY); customers >$10M TTM rose to 56 (up 56% YoY).
Rapid AI Adoption and Product Traction
Accounts using AI rose to more than 9,100. Snowflake Intelligence scaled to over 2,500 accounts (nearly doubled quarter-over-quarter). Cortex Code is used by over 4,400 customers, enabling faster development and deployment of AI workloads.
Record Large Deals and Strong Bookings Execution
Signed the largest deal in company history (> $400 million total contract value) and recognized seven 9-figure contracts in the quarter versus two in the same period last year, underlining strategic customer commitments to Snowflake's roadmap and AI strategy.
Margin and Cash Flow Improvement
Fiscal '26 non-GAAP operating margin expanded to 10.5% (up more than 400 basis points YoY). FY '26 non-GAAP product gross margin was 75.8% and non-GAAP adjusted free cash flow margin was 25.5%. Q4 share repurchase of ~$150 million; cash and investments ended the quarter at $4.8 billion with $1.1 billion remaining on repurchase authorization.
Strategic M&A and Ecosystem Partnerships
Closed acquisition of Observe (~$600 million) to extend observability/AI operations; announced expanded partnerships with OpenAI ($200 million partnership), Anthropic, SAP and Google Cloud (Gemini models), broadening model choice and go-to-market reach.
Product Velocity and Operational Efficiency
Launched over 430 product capabilities in the year; stock-based compensation declined from 41% of revenue in fiscal '25 to 34% in fiscal '26, with an expectation to fall to ~27% in fiscal '27, indicating discipline on operating leverage.
SNOW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SNOW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $169.21 | $173.06 | +2.28% |
Dec 03, 2025 | $265.00 | $234.77 | -11.41% |
Aug 27, 2025 | $200.39 | $241.00 | +20.27% |
May 21, 2025 | $179.12 | $203.18 | +13.43% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Snowflake (SNOW) report earnings?
Snowflake (SNOW) is schdueled to report earning on May 27, 2026, After Close (Confirmed).
What is Snowflake (SNOW) earnings time?
Snowflake (SNOW) earnings time is at May 27, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SNOW EPS forecast?
SNOW EPS forecast for the fiscal quarter 2027 (Q1) is 0.32.
