Snowflake (SNOW) Q4 2026 Earnings
How Did SNOW Stock React to Q4 2026 Earnings?
S&P 500 over the same 30 days: −8.32%.
Did SNOW Beat Earnings? Q4 2026 Results
Yes. Snowflake reported Q4 2026 earnings of $0.32 a share on Feb 25, 2026, beating the $0.27 consensus estimate by 17.8%. Revenue was $1.3B against a $1.3B estimate.
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%.
- 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
What Was Snowflake's Outlook in Q4 2026?
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
| Metric | Q4 2026 | Q4 2025 | Year over year |
|---|---|---|---|
| Revenue | $1.3B | $986.8M | +30.1% |
| Gross Profit | $857.7M | $653.6M | +31.2% |
| Operating Income | −$318.2M | −$270.3M | +17.7% |
| Net Income | −$309.6M | −$293.5M | +5.5% |
SNOW Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.