Snowflake Inc.SNOW
Snowflake Inc. Financial Overview 2022–2026
Updated Jul 10, 2026Snowflake's consumption-based model drove consistent top-line expansion, yet the company’s net loss deepened to $1.3 billion for FY2026, underscoring an aggressive prioritization of market capture over near-term profitability. The core investment thesis hinges on this land-and-expand strategy: Snowflake is successfully entrenching its Data Cloud within large enterprises, but relies on massive, ongoing operating expenses to sustain its growth and fund new artificial intelligence capabilities.
The company's long-term trajectory reveals rapid operational scaling, with total revenue surging from $1.22 billion in FY2022 to $4.7 billion in FY2026. This momentum is underpinned by robust customer expansion, evidenced by a net revenue retention rate that ended FY2026 at 125%. The platform grew its reach to 13,328 total customers by the close of that same fiscal year. However, this growth came at a steep cost. To fuel its AI initiatives and defend against rival cloud providers, Snowflake's total operating expenses swelled to $4.58 billion in FY2026, driving consecutive years of unprofitability. Despite the lack of positive earnings, the market continued to assign a premium valuation to this growth engine, with the stock closing at $192.70 for a $66.3 billion market capitalization at the end of FY2026.
Recent Developments (Q4 2026 and Q1 2027)
Top-line momentum continued into Q1 2027, with revenue rising 33% year-over-year to $1.39 billion. Customers contributing over $1 million annually jumped to 779, pushing the net revenue retention rate to 126%. Snowflake also closed its $595.8 million acquisition of Observe, Inc. in February 2026 and committed to a $6.0 billion cloud infrastructure spend. Leadership transitioned in March 2026, with Jonathan Beaulier appointed Chief Revenue Officer. Meanwhile, the quarterly net loss narrowed to $295.6 million from $430.0 million the prior year.
Bulls see expanding transactional capabilities via Snowflake Postgres and rising enterprise adoption driving sustained top-line acceleration. Bears warn that mounting stock-based compensation and a recent advisory vote rejecting executive pay highlight unchecked spending. Due to persistent unprofitability, the stock trades at a negative -64.7x P/E ratio, based on trailing EPS of $-3.95 and an $87.9 billion market capitalization as of the Q1 2027 report date.
What to watch: integration of Observe, Inc. to enhance AI observability; execution under the new Chief Revenue Officer.
Rev
$4.68B
FY2026
NI
$-1.33B
FY2026
EPS
$-3.95
FY2026
OCF
$1.22B
FY2026
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
All SNOW Financial Metrics(57)
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Recent SEC Filings
Snowflake Inc. 8-K Report, Executive Changes (Jul 16, 2026)
Snowflake Inc. (SNOW) announced on July 16, 2026, a significant performance-based restricted stock unit (PSU) award granted to CEO Sridhar Ramaswamy. This award, totaling 1,000,000 shares, is structured to incentivize and retain Ramaswamy by aligning his compensation with substantial long-term stockholder value creation. The award is contingent upon the satisfaction of both service-based requirements and escalating stock price milestones, designed to collectively aim for an increase of up to $100 billion in market capitalization.
Snowflake Inc. 8-K Report, Shareholder Vote Results (Jun 30, 2026)
Snowflake Inc. (SNOW) filed an 8-K on June 30, 2026, reporting the results of its 2026 Annual Meeting of Stockholders held on June 29, 2026. The meeting saw the election of directors, advisory votes on executive compensation, ratification of the independent auditor, and a vote on a stockholder proposal regarding director elections. While the election of directors and the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm were approved, a non-binding advisory vote to approve the compensation of named executive officers failed to gain majority support. Of particular note for investors, the compensation of the Company's named executive officers was not approved by a majority of the votes cast on a non-binding advisory basis. This indicates a potential disconnect between stockholder sentiment and executive pay practices, which warrants further attention. Conversely, a significant stockholder proposal requesting a majority vote for director elections was approved, signaling a desire for enhanced corporate governance. The ratification of PricewaterhouseCoopers LLP suggests continued confidence in the company's financial oversight.
Snowflake Inc. 8-K Report, Financial Results (May 27, 2026)
Snowflake Inc. has filed an 8-K report on May 27, 2026, to announce its financial results for the fiscal quarter ended April 30, 2026. The report primarily directs investors to a press release (Exhibit 99.1) for detailed financial performance. This filing serves as the official notification of these results, which will be crucial for understanding the company's recent operational and financial trajectory. Investors should pay close attention to the details within the press release for key metrics such as revenue, profitability, customer growth, and forward-looking guidance. While this 8-K itself is limited in detail, it formally triggers the public disclosure of the quarter's performance, impacting investor sentiment and strategic assessments of Snowflake's market position and future prospects.
Snowflake Inc. 8-K Report, Regulation FD Disclosure (Mar 31, 2026)
Snowflake Inc. announced a leadership change in its revenue organization, appointing Jonathan Beaulier as the new Chief Revenue Officer, effective March 31, 2026. Mr. Beaulier succeeds Michael Gannon, who is departing for personal reasons. Mr. Gannon will receive a separation package including cash payments and will provide transitional consulting services, with his outstanding equity awards continuing to vest during this period. Mr. Beaulier has a strong internal track record, most recently serving as GVP, U.S. Majors Sales since August 2024 and holding various senior sales roles prior to that. In addition to the executive transition, Snowflake reaffirmed its financial guidance for both the first quarter and the full fiscal year 2027. This guidance was initially provided on February 25, 2026, alongside the company's fiscal fourth quarter and full fiscal year 2026 earnings release. The reaffirmation suggests continued confidence from management in achieving their previously stated financial targets amidst this leadership change.
Snowflake Inc. 8-K Report, Financial Results (Feb 25, 2026)
Snowflake Inc. has filed an 8-K report on February 25, 2026, to announce its financial results for the fourth quarter and full fiscal year ended January 31, 2026. While the filing itself doesn't contain the detailed financial figures, it directs investors to a press release (Exhibit 99.1) for this crucial information. Investors should review the attached press release for specifics on revenue, profitability, product adoption, and future guidance, as these will be the primary drivers of the company's valuation and stock performance. The report also includes the standard disclaimer that the information in Item 2.02 and 9.01, including the press release, is not considered "filed" for certain regulatory purposes, meaning it doesn't automatically subject the company to liabilities under Section 18 of the Exchange Act. This is a common procedural note for such filings, and investors should focus on the content of the press release itself for material business and financial updates.
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