Earnings Report· 2026-09-02
SNOW
Q2 · 2027After-MarketSnowflake Inc.
@stockwhiz_ai
EARNING PER SHARE
Actual ($)
0.62
77.10% YoY
Expected
0.45
Beat
+37.78%
REVENUE
Actual ($)
1.55B
35.00% YoY
Expected
1.48B
Beat
+4.73%
Future Guidance
Q3 FY27 Outlook Revenue Guidance
1.59Bvs 1.48B est
Above Est
+7.47%
FY27 Outlook Revenue Guidance
6.07Bvs 6.10B est
Below Est
-0.49%
Earning Report
| Metric | Q2 FY27 | Q2 FY26 | YoY Change % |
|---|---|---|---|
| Revenue | $1.55B | $1.14B | +35.0% |
| └─Product revenue | $1.49B | $1.09B | +37.0% |
| └─Professional services and other revenue | $54.93M | $54.47M | +0.8% |
| Net Loss | $(191.720)M | $(297.930)M | - |
| Non-GAAP Net Income | $235.31M | $128.99M | +82.4% |
| GAAP Basic and Diluted EPS | $(0.55) | $(0.89) | - |
| Non-GAAP Basic EPS | $0.67 | $0.38 | +76.3% |
| Non-GAAP Diluted EPS | $0.62 | $0.35 | +77.1% |
Financial Outlook / Guidance
| Metric | Q3 FY27 Outlook | FY27 Outlook |
|---|---|---|
| Product revenue | $1,588M-$1,593M (+37-38% YoY) | $6,070M (+36% YoY, prev. $5,840M) |
| Non-GAAP Product Gross Margin | — | 74.0% |
| Non-GAAP Operating Margin | 15.5% | 14.5% (prev. 13.5%) |
| Non-GAAP Adjusted Free Cash Flow Margin | — | 23.0% |
| Diluted Shares | 382M | 380M |
Business Highlights
- ➤CoCo surpassed 9,100 accounts, adding more than 2,000 accounts during the quarter.
- ➤CoWork expanded to 5,800 accounts.
- ➤Launched over 330 product capabilities to general availability in fiscal 2027’s first half.
- ➤Introduced Cortex Sense for business context and Cortex AI Gateway integrated with Natoma.
- ➤1Password and Indeed selected Snowflake for data and AI transformation.
- ➤Sayari cut costs by more than half and uses CoCo to migrate 12 billion records.
- ➤Added 14 net new Forbes Global 2000 customers during the quarter.
Management Commentary
Sridhar Ramaswamy, CEO
“Snowflake delivered another strong quarter, with product revenue of $1.49 billion, up 37% year-over-year, as Snowflake continues to power the enterprise AI revolution. AI continues to compound our advantages, creating a flywheel effect across the business. CoWork and CoCo are driving transformational outcomes for our customers, while fueling rapid adoption, user growth, new workloads, and overall platform consumption. Our rapid pace of innovation, tight go-to-market execution, and operational discipline position us well to capture the opportunity ahead. The Agentic Enterprise runs on Snowflake, and we're just getting started.”
Brian Robins, CFO
“Q2 marks our third consecutive quarter of product revenue growth acceleration, driven by strength in both our core data platform and a meaningful step-up in AI revenue. Importantly, we delivered this accelerating growth while expanding operating margin. Balancing growth with discipline remains a top priority, and we are raising our full-year product revenue growth guidance to 36% year-over-year.”