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Snowflake

SNOW Q4 2026 Earnings

Reported Feb 25, 2026 at 4:07 PM ET · SEC Source

Q4 26 EPS

$0.32

BEAT +18.52%

Est. $0.27

Q4 26 Revenue

$1.28B

vs S&P Since Q4 26

-19.6%

TRAILING MARKET

SNOW -15.0% vs S&P +4.5%

Full Year 2026 Results

FY 26 EPS

$1.25

BEAT +3.84%

Est. $1.20

FY 26 Revenue

$4.68B

BEAT +0.62%

Est. $4.65B

Market Reaction

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% yea… Read more 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 robust future demand commitments 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

SNOW 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.

24/7 Wall St

SNOW YoY Financials

Q4 2026 vs Q4 2025, source: SEC Filings

24/7 Wall St

SNOW Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 22 Q4 26

“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.”

— Sridhar Ramaswamy, Q4 2026 Earnings Press Release

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