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Jan 31
Snowflake Q4 2026 Earnings Report
Snowflake reported strong fourth quarter fiscal 2026 results with 30% revenue growth and significant RPO expansion.
Key Takeaways
Snowflake delivered 30% year-over-year revenue growth in Q4 FY2026, driven by product revenue growth and strong customer expansion, while remaining performance obligations increased 42% year-over-year.
Revenue grew 30% year-over-year to 1283994000.
Product revenue increased 30% year-over-year to 1226631000.
Remaining performance obligations rose 42% year-over-year to 9770000000.
Net revenue retention rate remained strong at 125%.
Revenue by Segment
Forward Guidance
Snowflake guided for 27% year-over-year product revenue growth in Q1 and full-year FY2027 with improving non-GAAP operating margins.
Positive Outlook
- Q1 FY2027 product revenue guidance of 1262000000 to 1267000000.
- Full-year FY2027 product revenue guidance of 5660000000.
- Expected 27% product revenue growth for full-year FY2027.
- Non-GAAP product gross margin guidance of 75.0%.
- Non-GAAP operating margin guidance of 12.5% for FY2027.
Challenges Ahead
- Q1 FY2027 non-GAAP operating margin guidance of 9.0%.
- Guidance reflects continued investment in growth initiatives.
- Operating margin remains below long-term targets.
- Consumption variability may impact quarterly results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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