AI Data Cloud platform
Product revenue rose 37% in the quarter ended July 31, 2026, and guidance for fiscal 2027 was raised to $6.07 billion.
The numbers
What it is
The core platform for storing, querying and governing data, with compute billed by consumption. It is the main driver of revenue and the measure traders use for Snowflake's growth.
Why it matters to the stock. Growth in this line sets the stock's direction. Net revenue retention of 126% means existing customers keep spending more each year.
News
Snowflake Q2 product revenue rises 37%; full-year product guidance raised to $6.07 billion
Snowflake reported second-quarter fiscal 2027 product revenue of $1,491.9 million, up 37% year over year, and total revenue of $1,546.8 million, up 35%.
Snowflake Q1 product revenue rises 34%; full-year product guidance raised to $5.84 billion
Snowflake reported first-quarter fiscal 2027 product revenue of $1.33 billion, up 34% year over year, and total revenue of $1.39 billion, up 33%.
Snowflake Q4 product revenue rises 30%; FY2027 product guidance set at $5.66 billion
Snowflake reported fourth-quarter fiscal 2026 product revenue of $1,226.6 million, up 30% year over year, and fiscal 2026 product revenue of $4,472.3 million, up 29%.