Snowflake delivers strong Q4 amid data, AI demand

Snowflake reported a better-than-expected fourth quarter and said it added 740 net new customers, up 40% from a year ago.

For the fourth quarter, Snowflake reported a net loss of $309.55 million, or 90 cents a share, on revenue of $1.28 billion. Non-GAAP earnings were 32 cents a share, a nickel ahead of estimates.

Product revenue was up 30$% from a year ago and Snowflake said remaining performance obligations were $9.77 billion, up 42% from a year ago.

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For fiscal 2026, Snowflake reported a net loss of $1.33 billion, or $3.95 a share, on revenue of $4.684 billion.

CEO Sridhar Ramaswamy said Snowflake was seeing strong demand for its AI and data platform. "With rapid innovation, tight go-to-market alignment, and disciplined execution, we’re well positioned to lead this next phase," he said.

In addition, Snowflake said 733 customers had trailing 12-month revenue of more than $1 million, up 27% from a year ago.

By the numbers:

• Snowflake said more than 9,100 accounts were using Snowflake AI features.
• Snowflake Intelligence is now used by more than 2,500 accounts in just three months.
• The company said it launched more than 430 new capabilities in fiscal 2026.

As for the outlook, first quarter product revenue of $1.262 billion to $1.267 billion, up 27% from a year ago. For fiscal 2027, Snowflake is projecting product revenue of $5.66 billion, up 27%.

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