Companies /Technology

Snowflake Inc - Class A

NYSE: SNOW Software - Application
$337.18
▼ $19.29 (−5.41%) today
Markets closed · 11:34am ET

Q4 2026 Earnings

Reported Feb 25, 2026, 4:07pm ET · SEC source
$0.32
Beat +17.78%
EPS · est. $0.27
$1.3B
Beat +2.31%
Revenue · est. $1.3B
−2.9%
Trailing market
SNOW vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0+3%Feb 25Feb 26report 4:07pm ETearnings−1.0%−3.9%
−6%−3%0+3%Feb 25Feb 26earnings−1.0%−3.9%
SNOW −3.9%S&P 500 −1.0%
−6%−3%0+3%Feb 25Feb 26report 4:07pm ETearnings−1.6%−3.9%
−6%−3%0+3%Feb 25Feb 26earnings−1.6%−3.9%
SNOW −3.9%NASDAQ −1.6%
−4%0+4%+8%Feb 24Mar 5report 4:07pm ETearnings−2.1%+5.7%
−4%0+4%+8%Feb 24Mar 5earnings−2.1%+5.7%
SNOW +5.7%S&P 500 −2.1%
−4%0+4%+8%Feb 24Mar 5report 4:07pm ETearnings−1.7%+5.7%
−4%0+4%+8%Feb 24Mar 5earnings−1.7%+5.7%
SNOW +5.7%NASDAQ −1.7%
+2.28%
Day of report
−2.69%
Next session
+2.54%
One week
−11.20%
30 days

S&P 500 over the same 30 days: −8.32%.

Did SNOW Beat Earnings? Q4 2026 Results

Snowflake closed fiscal 2026 on a decisive high note, posting Q4 earnings per share of $0.32 against a consensus estimate of $0.27 — an 18.52% beat — while revenue of $1.28 billion edged past the $1.26 billion expectation by 2.31% and climbed 30.1% year over year. The standout driver was an acceleration in AI adoption and customer expansion: the company added a record 740 net new customers in the quarter, a 40% year-over-year jump, as demand for its Snowflake Intelligence and Cortex AI capabilities pulled more enterprise workloads onto the platform. Remaining performance obligations reached $9.77 billion, up 42% year over year, a figure that underscores <a href="https://247wallst.com/investing/2026/02/26/snowflakes-7-88-billion-revenue-backlog-is-impressive-the-april-27-lawsuit-deadline-is-not/">robust future demand commitments</a> even as multiple securities class action lawsuits tied to a 2024 disclosure controversy continue to shadow the company. Free cash flow surged to $765.09 million at a 60% margin, a dramatic improvement from 42% a year prior. Looking ahead, Snowflake guided FY2027 product revenue to $5.66 billion, implying 27% growth, with non-GAAP operating margin expanding to 12.5%.

Key Takeaways
  • 30% YoY product revenue growth driven by consumption expansion
  • Net revenue retention rate of 125%
  • Strongest ever quarter for net new customer acquisition with 740 net new customers (40% YoY growth)
  • 733 customers with trailing 12-month product revenue greater than $1 million (27% YoY growth)
  • Record number of customers exceeding $10 million in trailing 12-month spend
  • Remaining performance obligations of $9.77 billion (42% YoY growth)
  • AI feature adoption accelerating across 9,100+ accounts

“Snowflake delivered another strong quarter with product revenue of $1.23 billion, up 30% year-over-year, and remaining performance obligations totaling $9.77 billion, up 42% year-over-year. This past year has been transformative for every business, as the promise of AI became real, and Snowflake sits at the center of the enterprise AI revolution. For over a decade, we've built the foundation that makes AI safe and scalable — a single source of truth, cross-cloud interoperability, and enterprise-grade governance. Now, we're activating world-class agentic capabilities on top of that platform. With rapid innovation, tight go-to-market alignment, and disciplined execution, we're well positioned to lead this next phase.”

Snowflake CEO, on the earnings call

Forward Guidance & Outlook

For Q1 FY2027, Snowflake guides product revenue of $1,262–$1,267 million (27% YoY growth) with a non-GAAP operating income margin of 9.0% and approximately 374 million non-GAAP diluted shares. For full-year FY2027, the company guides product revenue of $5,660 million (27% YoY growth), non-GAAP product gross margin of 75.0%, non-GAAP operating income margin of 12.5%, non-GAAP adjusted free cash flow margin of 23.0%, and approximately 376 million non-GAAP diluted shares.

SNOW YoY Financials

Q4 2026 vs Q4 2025 · SEC filings Q4 2025 Q4 2026
$0$500.0M$1.0B$986.8M$1.3BRevenue$653.6M$857.7MGross Profit$-270,267,584$-318,159,000Operating Income$-293,495,781$-309,550,000Net Income
$0$500.0M$1.0BRevenueGross ProfitOperating IncomeNet Income

SNOW Revenue by Segment

Product Revenue$1.2B+30.0%
Professional Services and Other$57.4M

Figures from SEC filings and company reports. Not investment advice.