| Metric | Value ($ M) | Q2 FY26 | Q3 FY25 |
|---|---|---|---|
| Revenue | 1.2K | 5.9% | 28.8% |
| Total Income | 1.2K | 5.9% | 28.8% |
| Expenditure | 1.5K | 3.9% | 18.0% |
| PBT | -287.92 | 3.3% | 11.7% |
| Net Profit | -293.96 | 1.4% | 9.3% |
| OPM | -27.16% | 2.55pp | 11.63pp |
| NPM | -24.24% | 1.79pp | 10.18pp |
| EPS | -0.87 | 2.3% | 11.2% |
Snowflake Reports Q3 FY26 Product Revenue $1.16 Billion, Up 29% Y-o-Y
04 May 2026 · 4 May, 6:59 am
Summary
Snowflake announced its financial results for the third quarter of fiscal year 2026, reporting a total revenue of $1.21 billion, which represents a 29% increase year-over-year. Product revenue for the quarter was $1.16 billion, also up by 29% compared to the previous year. The net revenue retention rate was 125%. Remaining performance obligations grew to $7.88 billion, a 37% increase year-over-year. Management highlighted the company's role in customers' data and AI strategies.
Key Highlights
- 1
Product revenue reached $1.16 billion in the third quarter, demonstrating a 29% increase year-over-year.
- 2
The net revenue retention rate stood at 125% as of October 31, 2025.
- 3
Snowflake now has 688 customers generating trailing 12-month product revenue greater than $1 million.
- 4
The company serves 766 Forbes Global 2000 customers.
- 5
Remaining performance obligations totaled $7.88 billion, marking a 37% growth year-over-year.
- 6
Overall revenue for the quarter was $1.21 billion, representing a 29% year-over-year increase.
Management Comments
Sridhar Ramaswamy
Snowflake delivered another strong quarter, with product revenue of $1.16 billion, up 29% year-over-year, and remaining performance obligations totaling $7.88 billion, up 37% year-over-year. Snowflake is the cornerstone for our customers’ data and AI strategies, driving real business impact at scale. Snowflake Intelligence, our enterprise AI agent, saw the fastest adoption ramp in Snowflake history and is transforming how businesses interact with their data, delivering real-time, actionable intelligence. Combined with our strategic partnerships with the world’s leading AI model providers, clouds and application platforms, Snowflake is supercharging the entire data lifecycle with AI-driven capabilities.
Informational and educational content only. Not investment advice.