No-Headquarters/BOZEMAN, Mont.--(BUSINESS WIRE)--Snowflake (NYSE: SNOW), the AI Data Cloud company, today announced it will release its financial results for the fourth quarter and full year of fiscal year 2026, which ended January 31, 2026, following the close of the U.S. markets on Wednesday, February 25, 2026. Snowflake will host a conference call to discuss the financial results. Conference Call Details An audio replay of the conference call and webcast will be available two hours after its completion a ...

Core Insights - Snowflake has transformed from a data infrastructure-focused company to an AI-driven AI Data Cloud, significantly enhancing its value proposition in the enterprise data platform space [2][3][9] - AI has contributed to 50% of Snowflake's new customers and accounted for 25% of all use cases, driving a 32% year-over-year increase in product revenue [2][3] Transformation and Strategy - The transition to AI is seen as a critical step in Snowflake's strategic evolution, with a focus on amplifying the value of existing data [3][4] - The new CEO, Sridhar Ramaswamy, has implemented tactical adjustments to improve accountability and streamline operations, emphasizing faster iteration and customer feedback [9][10] - Snowflake Intelligence, set to launch in November 2024, aims to provide natural language querying and semantic search capabilities, enhancing user interaction with data [10][13] Product Development and AI Integration - Snowflake's AI strategy focuses on leveraging existing data rather than competing directly with major AI model developers like OpenAI [13][14] - The company has integrated a unified sales data platform called Raven, which consolidates various sales dashboards into a single interface for better data exploration [14][15] - Snowflake Intelligence is designed to be user-friendly, allowing employees at all technical levels to access and utilize data without needing SQL skills [15][16] Competitive Landscape and Market Position - Snowflake positions itself as a data platform innovator, differentiating from traditional cloud service providers by emphasizing data-first solutions [26][30] - The company recognizes the importance of partnerships with major software vendors like SAP to enhance its market reach and collaborative value creation [31][33] - Continuous innovation is deemed essential for maintaining competitiveness against larger cloud service providers, which possess vast resources [28][29] AI ROI and Business Impact - Coding agents are identified as a high ROI area, enabling faster project execution and lowering technical barriers for businesses [36][37] - The company advocates for a gradual approach to AI investment, encouraging clients to start with small-scale projects to demonstrate value before scaling up [37][38] - Snowflake's role in the data ecosystem is crucial for shortening the time from investment to value realization, especially compared to developing in-house AI solutions [38][39]

Core Insights - Snowflake (SNOW) is experiencing robust growth due to its leadership in cloud-based data analytics and AI-driven solutions, with product revenues reaching $1.09 billion, a 32% increase year over year in Q2 of fiscal 2026 [1][11] Company Performance - The company reported a net revenue retention rate of 125% in Q2 of fiscal 2026, indicating strong customer adoption and usage [2] - The customer base grew by 19% year over year, reaching 12,062 customers in Q2 of fiscal 2026, with 654 customers generating over $1 million in trailing 12-month product revenues [2][11] - Snowflake's partnerships with major cloud providers, particularly Microsoft Azure, contributed to growth, with Azure experiencing a 40% year-over-year growth in Q2 of fiscal 2026 [4][11] AI Integration and Collaborations - Snowflake's focus on AI integration, including products like Cortex AI SQL and Snowflake Intelligence, enhances its analytics capabilities, allowing enterprises to gain deeper insights and automate workflows [3] - A recent collaboration with Siemens aims to connect operational technology (OT) and information technology (IT) data, leveraging AI-driven insights to improve operational efficiency [5] Competitive Landscape - Snowflake faces significant competition from companies like Alphabet (GOOGL) and Datadog (DDOG), both of which are expanding their presence in the cloud analytics market [6] - Alphabet's Google Cloud revenues grew by 31.7% year over year, reaching $13.62 billion in Q2 of fiscal 2025, indicating strong competition in the sector [7] - Datadog reported an increase in its customer base, with 3,850 customers generating an annualized run rate of $100,000 or more, reflecting strong demand for its offerings [8] Stock Performance and Valuation - Snowflake's stock has appreciated by 48.7% year to date, outperforming the broader Zacks Computer & Technology sector's return of 22.4% and the Zacks Internet Software industry's increase of 26.5% [9] - The stock is trading at a premium, with a forward 12-month Price/Sales ratio of 14.79X compared to the Internet Software industry's 6.01X [12] - The consensus estimate for SNOW's fiscal 2026 earnings is $1.17 per share, reflecting a 40.96% year-over-year increase [14]

Core Insights - Yuki has launched the Yuki Optimization Platform as a Snowflake Native App, aimed at enhancing compute operations and workload efficiency for joint customers [1][6] - The platform automates warehouse operations and dynamically adjusts compute resources in near real-time, allowing data teams to optimize resource usage without altering queries or infrastructure [2][3] Company Overview - Yuki is positioned as a real-time optimization platform specifically designed for Snowflake environments, targeting high-scale data teams [7] - The integration with Snowflake allows Yuki to deliver its optimization engine directly within customers' Snowflake instances, ensuring data governance and security [3][6] Industry Context - The partnership between Yuki and Snowflake is expected to empower organizations to scale their operations confidently and innovate on the AI Data Cloud [4][6] - The Yuki Optimization Platform is now available on Snowflake Marketplace, facilitating easier access for joint customers to enhance efficiency and accelerate various use cases [6]

This presentation includes certain non-GAAP financial measures, which have not been prepared in accordance with generally accepted accounting principles in the United States (GAAP). These non-GAAP financial measures are in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non- ...

Financial Performance - Snowflake's product revenue reached $996.813 million in Q1 FY26, representing a year-over-year growth of 26%[36, 86] - The company's net revenue retention rate was 124% in Q1 FY26[36, 61] - Snowflake had 606 customers with over $1 million in product revenue as of Q1 FY26, a 27% year-over-year increase[36, 58] - Non-GAAP product gross margin was 76% in Q1 FY26[36, 64] - Non-GAAP operating margin was 9% in Q1 FY26[64, 91] - Non-GAAP adjusted free cash flow margin was 20% in Q1 FY26[64, 96] - Remaining Performance Obligations (RPO) reached $6.687 billion, with 50% expected to be recognized as revenue in the next twelve months[49, 50] Market and Customer Growth - Snowflake estimates its platform TAM to be $342 billion[34] - The company had 11,578 total customers in Q1 FY26[52] - Snowflake had 754 Forbes Global 2000 customers in Q1 FY26[54] AI Data Cloud Metrics - 39% of Snowflake's customers have at least one stable edge for data sharing[72, 79] - There were 3,098 Marketplace listings, a 21% year-over-year growth[72] Fiscal Year 2026 Guidance - Snowflake projects product revenue of $4.325 billion for FY26[74] - The company anticipates a 25% year-over-year product revenue growth for FY26[74] - Snowflake expects a non-GAAP product gross margin of 75% and a non-GAAP operating margin of 8% for FY26[74] - The company forecasts a non-GAAP adjusted free cash flow margin of 25% for FY26[74]