10-QPeriod: Q3 FY2026

Snowflake Inc. Quarterly Report for Q3 Ended Oct 31, 2025

Filed December 5, 2025For Securities:SNOW

Summary

Snowflake Inc. (SNOW) reported its financial results for the quarter ending October 31, 2025, with total revenue reaching $1.21 billion, a 29% increase year-over-year. The company continues to demonstrate strong revenue growth driven by increased consumption from its existing customer base, as evidenced by a net revenue retention rate of 125%. Despite robust top-line growth, Snowflake reported a net loss of $294.0 million for the quarter. While the company's gross profit increased to $822.0 million, the significant operating expenses, particularly in sales and marketing and research and development, contributed to the net loss. Management remains focused on investing in platform development, including AI Technology, and expanding its go-to-market strategy. The company ended the quarter with a healthy liquidity position, holding $4.4 billion in cash, cash equivalents, and investments.

Financial Highlights

53 data points
Beta

Revenue

$1.21B

67.8% Gross Margin

Net Income

-$293.96M

-24.2% Net Margin

EPS (Diluted)

$-0.87

Total Assets

$8.23B

Cash & Equivalents

$1.94B

Free Cash Flow

$113.61M

Financial Statements
Beta
Revenue$1.21B
Cost of Revenue$390.87M
Gross Profit$822.04M
R&D Expenses$494.03M
Operating Expenses$1.15B
Operating Income-$329.47M
Net Income-$293.96M
EPS (Basic)$-0.87
EPS (Diluted)$-0.87
Shares Outstanding (Basic)339.65M
Shares Outstanding (Diluted)339.65M

Key Highlights

  • 1Revenue increased by 29% year-over-year to $1.21 billion, primarily driven by increased customer consumption.
  • 2Net revenue retention rate remained strong at 125%, indicating continued expansion within the existing customer base.
  • 3The company reported a net loss of $294.0 million for the quarter, compared to a net loss of $324.3 million in the prior year period.
  • 4Operating expenses, particularly sales and marketing ($550.4M) and research and development ($494.0M), remain significant investments for growth.
  • 5Snowflake ended the quarter with $4.4 billion in cash, cash equivalents, and investments, providing ample liquidity.
  • 6Remaining Performance Obligations (RPO) stood at $7.9 billion, with approximately 48% expected to be recognized as revenue in the next 12 months.
  • 7The company experienced a substantial increase in general and administrative expenses for the nine-month period, largely due to asset impairment charges related to an office facility exit.

Frequently Asked Questions

Snowflake reported total revenue of $1.21 billion for the three months ended October 31, 2025, representing a 29% increase compared to the same period in the prior year. This growth was primarily driven by increased consumption of its platform by existing customers.

No, Snowflake reported a net loss of $294.0 million for the three months ended October 31, 2025, compared to a net loss of $324.3 million in the prior year period. The company continues to invest heavily in sales, marketing, and research and development to drive growth.

Snowflake's net revenue retention rate was 125% as of October 31, 2025. This metric indicates that the company is not only retaining its existing customer revenue but also experiencing significant expansion within its customer base, meaning existing customers are consuming more of Snowflake's services over time.

Snowflake ended the quarter with $4.4 billion in cash, cash equivalents, and investments. This strong liquidity position provides the company with flexibility to fund its operations, invest in growth initiatives, and manage its capital structure.