Snowflake Q2 product revenue rises 37%; full-year product guidance raised to $6.07 billion

Snowflake reported second-quarter fiscal 2027 product revenue of $1,491.9 million, up 37% year over year, and total revenue of $1,546.8 million, up 35%. It raised full-year fiscal 2027 product revenue guidance to $6,070 million from $5,840 million, about 36% growth, and lifted the non-GAAP operating margin outlook to 14.5% from 13.5%. Third-quarter product revenue is guided to $1,588 million to $1,593 million, which is 37% to 38% growth.

• Q2 FY2027 product revenue $1,491.9M (+37%); total revenue $1,546.8M (+35%)
• FY2027 product revenue guidance raised to $6,070M from $5,840M (about +36%)
• Q3 product revenue guidance $1,588M to $1,593M; Q3 non-GAAP operating margin 15.5%
• Non-GAAP product gross margin guided to 74.0%; non-GAAP operating margin 14.5% for the year
• Net revenue retention 126%; remaining performance obligations $9.00B; 828 customers above $1M (+27%)

SEC filing 8-K · accession 0001640147-26-000033 · sec.gov ↗