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.
SNOW YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
SNOW Revenue by Segment
With YoY comparisons, source: SEC Filings
“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
SNOW Earnings Trends
SNOW vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
SNOW EPS Trend
Earnings per share: estimate vs actual
SNOW Revenue Trend
Quarterly revenue: estimate vs actual
SNOW Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $0.27 | $0.32 | +18.52% | $1.28B | — |
| FY Full Year | $1.20 | $1.25 | +3.84% | $4.68B | +0.62% |
| Q3 26 BEAT | $0.31 | $0.35 | +12.47% | $1.21B | +2.44% |
| Q2 26 BEAT | $0.27 | $0.35 | +31.33% | $1.14B | +5.29% |
| Q1 26 BEAT | $0.21 | $0.24 | +13.15% | $1.04B | +3.62% |
| Q4 22 MISS FY | $0.03 | $-0.43 | -1,533.33% | $383.8M | +3.00% |
| FY Full Year | — | $-2.26 | — | $1.22B | — |