AI数据云平台公司Snowflake公布2026财年第二季度财报，营收、利润及未来展望全面超出市场预期，缓解了市场对AI 新创抢占份额的担忧。其中，该公司将全年产品营收指引上调至43.95亿美元，不仅高于上一季度预期的43.25亿美元， 也超出分析师平均预估的43.4亿美元。剩余履约义务达69亿美元，同比增长33%，反映客户长期投入强劲。财报发布 后，公司股价盘后大涨13%，提振整个软件板块市场情绪。 硬·AI 作者 | 硬 AI 编辑 | 硬 AI AI数据云平台公司Snowflake周三公布2026财年第二季度（截至2025年7月31日）财务业绩，该公司上调 了2026财年的产品收入预期，主要因企业在人工智能支出上持续加码，推动其数据分析服务需求强劲增 长，缓解了市场对经济放缓以及新兴AI公司抢占市场份额可能冲击传统软件厂商的担忧。消息发布后，该 公司股价在盘后交易中一度上涨13%。 以下是Snowflake二季度财报要点： 主要财务数据： 产品营收： Snowflake二季度GAAP与非GAAP营收均为10.905亿美元，高于市场预期的10.4亿美元，同比 增长32%。 产品毛利： Snowflake二 ...

Core Viewpoint - Snowflake's Q2 FY2026 financial results exceeded market expectations, alleviating concerns about competition from emerging AI companies and economic slowdown [1][3][18] Financial Performance - Q2 product revenue reached $1.0905 billion, surpassing market expectations of $1.04 billion, with a year-over-year growth of 32% [4] - Q2 GAAP gross profit was $788.2 million, with a gross margin of 72%; non-GAAP gross profit was $833.6 million, with a gross margin of 76% [5] - Q2 GAAP operating loss was $340.3 million, with an operating margin of -30%; non-GAAP operating profit was $127.6 million, with a margin of 11% [6] - Adjusted EPS for Q2 was $0.35, nearly double from the same period last year and above analyst estimates of $0.27 [7] - Q2 operating cash flow was $74.9 million, accounting for 7% of revenue [8] - Unadjusted free cash flow for Q2 was $58.2 million, representing 5% of revenue; adjusted free cash flow was $67.8 million, or 6% of revenue [9] Guidance and Future Outlook - Q3 product revenue is expected to be between $1.125 billion and $1.130 billion, above market expectations of $1.12 billion, with a year-over-year growth rate of 25% to 26% [9] - Full-year FY2026 revenue is projected to reach $4.395 billion, exceeding analyst expectations of $4.34 billion, with a year-over-year growth of 27% [10] - Full-year non-GAAP gross margin is expected to be 75% [11] - Full-year non-GAAP operating margin is projected to be 9% [12] - Full-year adjusted free cash flow is expected to account for 25% of revenue [13] Customer Metrics and Market Position - As of July, net revenue retention rate was 125%, with 654 customers spending over $1 million in the past 12 months, a 30% year-over-year increase [13] - The remaining performance obligations (RPO) stood at $6.9 billion, a 33% year-over-year increase, indicating strong future commitments from customers [15] - Snowflake's stock rose 13% in after-hours trading following the earnings report, positively impacting the software sector [15] Market Sentiment and Competitive Landscape - Concerns about traditional software companies losing market share to AI-focused startups have been prevalent, but Snowflake's performance has alleviated some of these worries [17][18] - Analysts remain optimistic about Snowflake's growth prospects, with Bank of America upgrading the stock rating from "neutral" to "buy" and setting a target price of $240 [19] - The company is seen as a preferred platform for organizations developing generative AI strategies, with over 6,100 accounts using Snowflake's AI products weekly [19]