Snowflake Inc.
Snowflake Announces Second Quarter Fiscal 2026 Financial Results
Summary
Snowflake Inc. reported financial results for the second quarter of fiscal 2026, showing a 32% year-over-year growth in product revenue to $1.09 billion. The company's net revenue retention rate stood at 125%. It also announced 654 customers with trailing 12-month product revenue over $1 million and 751 Forbes Global 2000 customers. Remaining performance obligations were $6.9 billion, representing 33% year-over-year growth. Snowflake further provided guidance for the third quarter and full year of fiscal 2026.
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About Snowflake Inc.
Snowflake Inc. is a cloud-based data-warehousing company that provides businesses with a robust platform for storing, processing, and analyzing large volumes of data with ease and efficiency. With its unique architecture, Snowflake allows organizations to seamlessly connect and manage data across diverse cloud services and platforms, facilitating advanced analytics, machine learning, and data-driven decision-making. Its primary function is to offer businesses a secure and scalable solution for handling complex data workflows, eliminating the need for dedicated hardware, and enabling rapid insights. Snowflake caters heavily to industries like financial services, healthcare, and retail, where real-time data processing and reliable data storage are critical. The company's role in the market is significant as it empowers businesses to leverage big data capabilities without the traditional constraints of infrastructure maintenance or server management. Established in 2012 and headquartered in Bozeman, Montana, Snowflake continues to expand its influence by constantly innovating in the cloud data ecosystem.
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