10-KPeriod: FY2026

Snowflake Inc. Annual Report, Year Ended Jan 31, 2026

Filed March 20, 2026For Securities:SNOW

Summary

Snowflake Inc. (SNOW) has reported its fiscal year 2026 results, showcasing continued robust revenue growth of 29%, reaching $4.7 billion. Despite this strong top-line performance, the company incurred a net loss of $1.3 billion for the fiscal year. The company's consumption-based business model continues to drive expansion within its customer base, evidenced by a net revenue retention rate of 125%. Snowflake has also made strategic acquisitions, notably Observe Inc. for AI-powered observability, and expanded its product offerings to include transactional capabilities with Snowflake Postgres and enhanced AI features like Snowflake Intelligence. While the company is investing heavily in growth and innovation, particularly in AI, it faces increasing competition and the inherent uncertainties of a rapidly evolving market. Investors should note the significant stock-based compensation expenses and ongoing net losses, which are being offset by substantial operating cash flows.

Financial Highlights

54 data points
Beta

Revenue

$4.68B

67.2% Gross Margin

Net Income

-$1.33B

-28.4% Net Margin

EPS (Diluted)

$-3.95

Total Assets

$9.13B

Cash & Equivalents

$2.83B

Free Cash Flow

$1.12B

Financial Statements
Beta
Revenue$4.68B
Cost of Revenue$1.54B
Gross Profit$3.15B
R&D Expenses$1.97B
Operating Expenses$4.58B
Operating Income-$1.44B
Net Income-$1.33B
EPS (Basic)$-3.95
EPS (Diluted)$-3.95
Shares Outstanding (Basic)337.49M
Shares Outstanding (Diluted)337.49M

Key Highlights

  • 1Revenue grew 29% year-over-year to $4.7 billion for the fiscal year ended January 31, 2026.
  • 2The company reported a net loss of $1.3 billion for the fiscal year ended January 31, 2026.
  • 3Net revenue retention rate remained strong at 125% as of January 31, 2026.
  • 4Customer count increased to 13,328 as of January 31, 2026, up from 10,996 in the prior year.
  • 5Significant investments in Research & Development, particularly in AI capabilities, are ongoing.
  • 6Snowflake acquired Observe Inc., an AI-powered observability leader, in February 2026.
  • 7The company launched Snowflake Postgres, expanding into transactional workloads.
  • 8Total operating expenses increased to $4.58 billion, contributing to the net loss.

Frequently Asked Questions

For the fiscal year ended January 31, 2026, Snowflake reported revenue of $4.7 billion, representing a 29% increase year-over-year. However, the company experienced a net loss of $1.3 billion for the same period.

Snowflake's customer base grew to 13,328 as of January 31, 2026. The company maintains a strong customer loyalty, as indicated by its net revenue retention rate of 125% as of January 31, 2026, suggesting existing customers are increasing their spend on the platform.

Snowflake is focused on innovating and advancing its platform, particularly in AI technologies like Snowflake Intelligence and Cortex AI. The company is also driving new customer acquisition, increasing usage within its existing customer base, expanding its global footprint, and growing its partner network. Strategic acquisitions, such as Observe Inc., are also key to enhancing its AI and observability capabilities.

Key risks include intense competition from cloud providers and other technology companies, the potential for slowing revenue growth, cybersecurity threats, the difficulty in accurately forecasting future results due to its consumption-based model, and the significant operating losses coupled with substantial investments in R&D. Litigation, particularly related to cybersecurity incidents and copyright infringement, is also a notable risk.