- Product revenue of $1.16 billion in the third quarter, representing 29% year-over-year growth
- Net revenue retention rate of 125%
- 688 customers with trailing 12-month product revenue greater than $1 million
- 766 Forbes Global 2000 customers
- Remaining performance obligations of $7.88 billion, representing 37% year-over-year growth
No-Headquarters/BOZEMAN, Mont.–(BUSINESS WIRE)– Snowflake (NYSE: SNOW), the AI Data Cloud company, today announced financial results for its third quarter of fiscal 2026, ended October 31, 2025.
Snowflake Q3 FY26 Infographic (Graphic: Snowflake)
Revenue for the quarter was $1.21 billion, representing 29% year-over-year growth. Product revenue for the quarter was $1.16 billion, representing 29% year-over-year growth. Net revenue retention rate was 125% as of October 31, 2025. The company now has 688 customers with trailing 12-month product revenue greater than $1 million and 766 Forbes Global 2000 customers, representing 29% and 4% year-over-year growth, respectively. Remaining performance obligations were $7.88 billion, representing 37% year-over-year growth. See the section titled “Key Business Metrics” for definitions of product revenue, net revenue retention rate, customers with trailing 12-month product revenue greater than $1 million, Forbes Global 2000 customers, and remaining performance obligations.
“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,” said Sridhar Ramaswamy, CEO of Snowflake. “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.”
Third Quarter Fiscal 2026 GAAP and Non-GAAP Results:
The following table summarizes our financial results for the third quarter of fiscal 2026:
Financial Outlook:
Our guidance includes GAAP and non-GAAP financial measures.
The following table summarizes our guidance for the fourth quarter of fiscal 2026:
The following table summarizes our guidance for the full-year of fiscal 2026:
A reconciliation of GAAP guidance measures to corresponding non-GAAP guidance measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future. Stock-based compensation-related charges, including employer payroll tax-related items on employee stock transactions, are impacted by the timing of employee stock transactions, the future fair market value of our common stock, and our future hiring and retention needs, all of which are difficult to predict and subject to constant change. These factors could be material to our results computed in accordance with GAAP. We have provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables for our historical non-GAAP financial results included in this release. Our fiscal year ends January 31, and numbers are rounded for presentation purposes.
Conference Call Details
The conference call will begin at 3 p.m. Mountain Time on December 3, 2025. Investors and participants may attend the call by dialing (833) 470-1428 (Access code: 752353). For investors and participants outside the United States, see global dial-in numbers at https://www.netroadshow.com/events/global-numbers?confId=90709 (Access code: 752353).
The call will also be webcast live on the Snowflake Investor Relations website at https://investors.snowflake.com.
An audio replay of the conference call and webcast will be available two hours after its completion and will be accessible for 30 days on the Snowflake Investor Relations website.
Investor Presentation Details
An investor presentation providing additional information and analysis can be found at https://investors.snowflake.com.
Full report and charts available here.
Source: investors.snowflake.com
