Snowflake Inc.
Snowflake Reports Strong Q3 FY2026 Results with 29% YoY Growth
Summary
Snowflake Inc. reported robust financial results for the third quarter of fiscal 2026, with product revenue of $1.16 billion, representing a 29% year-over-year growth. The company's net revenue retention rate stood at 125%, and it added 688 customers with trailing 12-month product revenue exceeding $1 million. Remaining performance obligations totaled $7.88 billion, up 37% year-over-year. Snowflake's non-GAAP operating income for the quarter was $131.3 million, and free cash flow was $113.6 million. The company also provided guidance for the fourth quarter and full fiscal year 2026, indicating continued growth and profitability.
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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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