Reported Q: Q1 2026 Rev YoY: +25.8% EPS YoY: -35.8% Move: +7.48%
Snowflake Inc
SNOW
$168.43 7.48%
Exchange NYSE Sector Technology Industry Software Application
Q1 2026
Published: May 30, 2025

Company Status Snapshot

Fast view of the latest quarter outcome for SNOW

Reported

Report Date

May 30, 2025

Quarter Q1 2026

Revenue

1.04B

YoY: +25.8%

EPS

-1.29

YoY: -35.8%

Market Move

+7.48%

Previous quarter: Q4 2025

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Earnings Highlights

  • Revenue of $1.04B up 25.8% year-over-year
  • EPS of $-1.29 decreased by 35.8% from previous year
  • Gross margin of 66.5%
  • Net income of -430.09M
  • "“Our AI data cloud helps customers get more value out of their data, innovate faster and remove friction from their business operations.”" - Sridhar Ramaswamy
SNOW
Company SNOW

Executive Summary

Snowflake delivered a robust start to FY2026 (QQ1), underscored by durable data‑driven growth and meaningful AI product momentum. Revenue reached $1.042B, up 25.8% year over year, supported by continued strength in product offerings (Snowpark, Dynamic Tables) and expanding AI capabilities via Cortex. Remaining performance obligations (RPO) swelled to $6.7B, up 34% YoY, while net revenue retention (NRR) remained healthy at 124%, signaling strong cross‑sell and retention among existing customers. Managementuparalleled this with an outsized emphasis on AI enablement and ecosystem collaboration (Iceberg, Snowflake connectors, Cortex, and OpenAI/Microsoft Azure partnership), signaling a strategic shift toward a more integrated, AI‑ready data platform. Margins remain modestly negative on a GAAP basis, but non‑GAAP metrics show improvement: non‑GAAP gross margin approximately 75%, non‑GAAP operating margin around 8–9%, and non‑GAAP adjusted free cash flow margin near 25%. The company also highlighted significant product momentum (125 new capabilities in the quarter, up 100% YoY) and a scalable go‑to‑market (GTM) engine led by the new Chief Revenue Officer, Mike Gannon. The guidance for FY2026 contemplates continued strong top‑line growth (revenue of ~$4.325B, +25% YoY) with improving but still elevated investment in growth initiatives, alongside a planned Investor Day on June 3. Overall, Snowflake’s QQ1 results reinforce a thesis of durable, high‑growth, and margin‑expanding opportunity driven by data‑first AI strategies and a broadened data lifecycle offering.

Key Performance Indicators

Revenue
Increasing
1.04B
QoQ: 5.60% | YoY: 25.75%
Gross Profit
Increasing
693.29M
66.53% margin
QoQ: 6.07% | YoY: 24.65%
Operating Income
Decreasing
-447.26M
QoQ: -15.67% | YoY: -28.31%
Net Income
Decreasing
-430.09M
QoQ: -31.34% | YoY: -35.68%
EPS
Decreasing
-1.29
QoQ: -30.30% | YoY: -35.79%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q2 2026 1,144.97 -0.89 +31.8% View
Q1 2026 1,042.07 -1.29 +25.8% View
Q4 2025 986.77 -0.99 +27.4% View
Q3 2025 942.09 -0.97 +28.3% View
Q2 2025 868.82 -0.95 +28.9% View