Snowflake Q4 Revenue Up 30% with EPS Beat and 27% Growth Guidance
Snowflake reported Q4 non-GAAP EPS of $0.32 and 30.1% revenue growth to $1.28 billion, with a 125% net revenue retention rate and 740 net new customers. It launched 430+ product features, signed a $400 million+ deal, saw AI tools adopted by over 2,500 accounts, and guided Q1 product revenue of $1.262–$1.267 billion.
1. Q4 Financial Highlights
In Q4 fiscal 2026, Snowflake delivered non-GAAP EPS of $0.32 and revenue of $1.28 billion, up 30.1% year over year. The net revenue retention rate reached 125%, reflecting strong upsell among existing customers.
2. Customer Growth and Retention
The company added 740 net new customers, lifting total count to 13,328 and boosting the number of accounts spending over $1 million annually to 733 and those spending more than $10 million to 56. Overall customer base grew 21% year over year.
3. Product Innovation and Deals
Snowflake rolled out over 430 new product capabilities in 2026, including AI-driven features such as Snowflake Intelligence and Cortex Code, adopted by thousands of accounts. It also secured its largest contract ever at over $400 million and deepened integrations with major cloud AI partners.
4. Guidance and Outlook
For Q1 fiscal 2027, Snowflake guided product revenues of $1.262–$1.267 billion, implying 27% year-over-year growth, and forecast full fiscal 2027 product revenue of $5.66 billion with a 75% gross margin and a 23% free cash flow margin.