Snowflake Q1 Fiscal 2027 Results: Revenue $1.39B, Loss $295.6M
Snowflake Reports Q1 Fiscal 2027 Financial Results
Snowflake (SNOW) announced its first quarter fiscal 2027 results with revenue of $1.39 billion, representing 33% year-over-year growth. Product revenue reached $1.33 billion, up 34% year-over-year.
Financial Highlights
The company reported a net loss of $295.6 million, or $0.86 per share. The net revenue retention rate was 126%, and 779 customers had trailing 12-month product revenue over $1 million.
AI and Growth Strategy
CEO Sridhar Ramaswamy highlighted AI as a powerful tailwind. Snowflake is advancing with Cortex Code and Snowflake Intelligence AI products. The company also signed a definitive agreement to acquire Natoma, an enterprise Model Context Protocol platform for AI agents.
Future Outlook
Snowflake raised its full-year product revenue guidance to $5.84 billion. For Q2, product revenue is expected between $1.415 billion and $1.420 billion.
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