Snowflake(US:SNOW)2026-02-25 21:07Revenue Growth - Fourth quarter revenue reached $1.28 billion, reflecting a 30% year-over-year growth[1] - Product revenue for the fourth quarter was $1.23 billion, also up 30% year-over-year, with remaining performance obligations totaling $9.77 billion, a 42% increase year-over-year[2] - For fiscal 2027, product revenue guidance is set between $1,262 million and $1,267 million for Q1, and $5,660 million for the full year, both reflecting a 27% year-over-year growth[6] - Full-year product revenue for fiscal 2026 was $4,472.3 million, a 29% increase year-over-year, with a non-GAAP operating income of $489.7 million[8] - Product revenue for the fiscal year ended January 31, 2026, was $4,683,946,000, representing a 29.3% increase from $3,626,396,000 in the previous year[25] - Product revenue for Q1 2026 reached $1,226.6 million, a 30% increase year-over-year from $943.3 million in Q1 2025[31] - Total revenue for the twelve months ended January 31, 2026, was $4,683.9 million, up 29% from $3,626.4 million in the previous year[31] - Year-over-year growth for total revenue was 30% for Q1 2026, compared to 27% for Q1 2025[31] Customer Metrics - The net revenue retention rate stood at 125%, indicating strong customer engagement and expansion[4] - Snowflake added 740 net new customers in the quarter, marking a 40% year-over-year growth, with 733 customers now spending over $1 million annually[4] - The company served 790 of the Forbes Global 2000 customers, indicating a 5% year-over-year growth in enterprise adoption[5] - The number of customers with trailing 12-month product revenue greater than $1 million is a key metric, reflecting the company's ability to attract high-value clients[18] - User data metrics show a significant increase in engagement, supporting future revenue growth projections[1] Financial Performance - Non-GAAP product gross profit margin for Q4 was 75%, while operating income was reported at $139.2 million, representing an 11% margin[7] - Operating loss for the quarter was $318,159,000, a slight improvement from a loss of $386,678,000 in the same quarter last year[25] - Net loss attributable to Snowflake Inc. for the fiscal year was $1,331,616,000, compared to $1,285,640,000 in the previous year, indicating ongoing investment in growth despite losses[25] - The company reported interest income of $42,445,000 for the quarter, down from $56,310,000 in the previous year, reflecting changes in market conditions[25] - Net loss for the three months ended January 31, 2026, was $309,550 thousand, a slight improvement from a net loss of $325,724 thousand in the same period last year[29] - Non-GAAP operating margin was reported at 11%, down from 12.7% in the previous year[1] - The company reported a net increase in cash, cash equivalents, and restricted cash of $879,672 thousand for the current quarter, compared to $532,440 thousand in the same quarter last year[29] Expenses and Investments - Total operating expenses reached $1.175 billion, reflecting a 22% increase year-over-year[1] - Research and development expenses increased to $511 million, representing a 38% increase year-over-year[1] - General and administrative expenses were reported at $113.5 million, a 29% increase compared to the previous year[1] - The company reported a net restructuring charge of $96 million, indicating ongoing strategic adjustments[1] - The company is focusing on strategic acquisitions and investments, with associated expenses of $474 million[1] - Future guidance indicates a continued emphasis on R&D, with expectations for further increases in development expenses[1] Cash Flow and Assets - Free cash flow for the quarter was $857,663,000, resulting in a free cash flow margin of approximately 66.8% of revenue[16] - Net cash provided by operating activities for the twelve months ended January 31, 2026, was $1,221,942 thousand, up from $959,764 thousand in the previous year, representing a 27.3% increase[29] - Cash and cash equivalents at the end of the period rose to $2,864,303 thousand, up from $2,698,678 thousand, indicating a 6.1% increase[29] - Total assets increased to $9,132,495 thousand as of January 31, 2026, compared to $9,033,938 thousand in the previous year, reflecting a growth of 1.1%[27] Strategic Focus - Snowflake aims to enhance its product offerings and market presence, particularly in AI and data cloud services, to drive future growth and customer engagement[19] - The company plans to expand its market presence through new product launches and technological advancements[1] - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[1] - Future guidance indicates a focus on strategic investments and acquisitions to drive growth[33] - The company plans to enhance its market expansion efforts in key regions[33] - New product development initiatives are underway, aimed at increasing market share[33]