Snowflake, Inc. (SNOW)
NYSE:SNOW
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Earnings Data
Report Date
Aug 26, 2026After Close (Confirmed)
Period Ending
2027 (Q2)Consensus EPS Forecast
0.45Last Year’s EPS
0.35Same Quarter Last Year
Strong Buy
Based on 35 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strong, growth-focused quarter driven by accelerated product revenue (34% YoY), meaningful AI product traction (CoCo and Snowflake Intelligence), improved net revenue retention (126%), margin expansion and raised FY'27 guidance (from 27% to 31% revenue growth). Strategic partnerships (notably a $6B AWS agreement), large-customer expansion, operational productivity gains from AI, a healthy cash position and active buybacks reinforce a positive momentum narrative. Principal risks highlighted include AI-related cost and gross-margin pressure, booking seasonality concentrated in Q4, potential customer throttling of consumption for cost control, and a modest acquisition-related margin headwind (~150 bps). Overall, positive fundamental growth and margin progress outweigh the manageable risks tied to rapid AI scaling and timing of bookings.Company Guidance
Record Product Revenue and Accelerating Growth
Product revenue of $1.334 billion, up 34% year-over-year (accelerating from 30% last quarter and 26% a year ago), delivering the strongest sequential dollar growth in company history.
Improved Net Revenue Retention and Large-Customer Expansion
Net revenue retention increased to 126%. Eight customers surpassed $10M in trailing 12-month (TTM) revenue in Q1; total of 64 customers >$10M TTM. 79 customers now spend >$1M TTM (46 crossed $1M in Q1 vs 26 in the year-ago period).
Margin Expansion and Profitability Progress
Non-GAAP operating margin expanded over 300 basis points year-over-year to 12% in Q1. Company raised full-year non-GAAP operating margin guidance from 12.5% to 13.5% and expects Q2 operating margin of 12.5%. Non-GAAP product gross margin guide maintained at 75% for FY'27.
Raised FY'27 Revenue Guidance
FY'27 product revenue guidance increased from 27% to 31% year-over-year growth, with a product revenue target of $5.84 billion. Q2 product revenue guidance is $1.415–$1.42 billion (approximately 30% YoY growth).
Strong Traction for Native AI Products (CoCo & Snowflake Intelligence)
Cortex Code (CoCo) in use with more than ~7,100 accounts; Snowflake Intelligence adoption more than doubled quarter-over-quarter. AI products are already contributing meaningful revenue and driving additional core platform consumption.
Customer and Use-Case Momentum
Added 616 net new customers in Q1, up 38% YoY (most net new customer adds in company history). Number of new projects/use cases deployed in the quarter increased 114% YoY; use cases per account executive rose 86% YoY.
Expanded Strategic Partnerships and Market Reach
Signed a 5-year, $6 billion expanded contract with AWS; surpassed $7 billion in lifetime AWS Marketplace sales. Announced an expanded $200 million partnership with OpenAI and brought SAP joint capability to general availability.
Strong Cash Position and Share Repurchases
Used approximately $300 million to repurchase 1.7 million shares in the quarter; ~$800 million remains of the $4.5 billion repurchase authorization. Ended the quarter with $4.4 billion in cash, cash equivalents and investments.
Material Operational Productivity Gains from AI
Internal deployment of CoCo drove >25% faster case resolution and 25% higher throughput per engineer; complex case resolution times reduced ~30% and engineering time per ticket down ~40%. Data organization reported doubled developer productivity and >100 automated workflows. Delivered >20% more product capabilities to market versus a year ago.
Strategic Acquisitions to Extend Product Scope
Observe acquisition progressing (contributed <1 percentage point of product revenue growth in Q1; expected to add ~1 ppt for full year). Announced intended acquisition of Natoma to extend agent actions into SaaS applications (Natoma to add ~20 employees).
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 |
|---|---|---|---|
May 27, 2026 | $175.26 | $239.20 | +36.48% |
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% |
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, Inc. (SNOW) report earnings?
Snowflake, Inc. (SNOW) is schdueled to report earning on Aug 26, 2026, After Close (Confirmed).
What is Snowflake, Inc. (SNOW) earnings time?
Snowflake, Inc. (SNOW) earnings time is at Aug 26, 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 (Q2) is 0.45.
