Snowflake Q1 product revenue rises 34%; full-year product guidance raised to $5.84 billion

Snowflake reported first-quarter fiscal 2027 product revenue of $1.33 billion, up 34% year over year, and total revenue of $1.39 billion, up 33%. It raised full-year fiscal 2027 product revenue guidance to $5,840 million from $5,660 million, about 31% growth, and guided second-quarter product revenue to $1,415 million to $1,420 million. The company also raised its non-GAAP operating margin outlook to 13.5% from 12.5%.

• Q1 FY2027 product revenue $1.33B (+34%); total revenue $1.39B (+33%)
• FY2027 product revenue guidance raised to $5,840M from $5,660M (about +31%)
• Q2 product revenue guidance $1,415M to $1,420M (about +30%)
• Net revenue retention 126%; remaining performance obligations $9.21B (+38%)
• 779 customers above $1M trailing 12-month product revenue (+29%)

SEC filing 8-K · accession 0001640147-26-000027 · sec.gov ↗