SNOW

MKT CAP:$49B

Snowflake Inc.

Market Cap

$49B

Technology·Software - Application·🇺🇸 United States·NYSE

Technology·Software App·🇺🇸·NYSE

Stock Price

$140.63-$76.08 (-35.11%)

Apr 24, 2026

Company Details

Snowflake Inc. provides a cloud-based data platform in the United States and internationally. The company's platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business i...

CEO

Sridhar Ramaswamy

IPO Date

Sep 16, 2020

Website

www.snowflake.com

Key Metrics TTM

Revenue

$3.9B

+38.4% YoY

Net Income

-$1.4B

EPS (Diluted)

-$4.08

Free Cash Flow

$645M

Revenue / Share

$11.63

Gross Margin

67.0%

Operating Margin

-38.4%

Net Margin

-35.1%

FCF Margin

16.6%

P/S

12.5x

P/E

—

Earnings Reports

FY 2026

Mar 20, 2026

$4.7B+29.2%EPS -$3.95

Q2 2026

Sep 5, 2025

$1.1B+31.8%EPS -$0.89

Q1 2026

May 30, 2025

$1.0B+25.7%EPS -$1.29

FY 2025

Mar 21, 2025

$3.6B+29.2%EPS -$3.86

Q2 2025

Aug 29, 2024

$869M+28.9%EPS -$0.95

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$229M	$132M	-$206M
Q2 22	$272M	$166M	-$200M
Q3 22	$334M	$214M	-$157M
Q4 22	$384M	$250M	-$152M
Q1 23	$422M	$274M	-$189M
Q2 23	$497M	$324M	-$208M
Q3 23	$557M	$366M	-$206M
Q4 23	$589M	$383M	-$240M
Q1 24	$624M	$414M	-$273M
Q2 24	$674M	$456M	-$285M
Q3 24	$734M	$505M	-$261M
Q4 24	$775M	$533M	-$276M
Q1 25	$829M	$556M	-$349M
Q2 25	$869M	$581M	-$355M
Q1 26	$1.0B	$693M	-$447M
Q2 26	$1.1B	$773M	-$340M

Valuation

Quarter	P/S	P/E
Q1 22	93.1x	—
Q2 22	95.5x	—
Q3 22	107.6x	—
Q4 22	71.1x	—
Q1 23	40.1x	—
Q2 23	29.5x	—
Q3 23	27.7x	—
Q4 23	23.8x	—
Q1 24	21.2x	—
Q2 24	23.9x	—
Q3 24	18.1x	—
Q4 24	24.7x	—
Q1 25	17.4x	—
Q2 25	13.5x	—
Q1 26	15.0x	—
Q2 26	18.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$22M	$13M
Q2 22	-$6M	-$12M
Q3 22	$16M	$9M
Q4 22	$79M	$71M
Q1 23	$185M	$172M
Q2 23	$64M	$54M
Q3 23	$79M	$65M
Q4 23	$217M	$205M
Q1 24	$299M	$292M
Q2 24	$83M	$60M
Q3 24	$121M	$102M
Q4 24	$345M	$324M
Q1 25	$355M	$339M
Q2 25	$70M	$65M
Q1 26	$228M	$183M
Q2 26	$75M	$58M

Capital Expenditures

Quarter	CapEx
Q1 22	$9M
Q2 22	$6M
Q3 22	$6M
Q4 22	$8M
Q1 23	$12M
Q2 23	$11M
Q3 23	$14M
Q4 23	$12M
Q1 24	$7M
Q2 24	$24M
Q3 24	$19M
Q4 24	$20M
Q1 25	$17M
Q2 25	$5M
Q1 26	$45M
Q2 26	$17M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+110.4%	+111.7%
Q2 22	+104.4%	+124.0%
Q3 22	+109.5%	+49.4%
Q4 22	+101.5%	+37.1%
Q1 23	+84.5%	+40.7%
Q2 23	+82.7%	+49.3%
Q3 23	+66.6%	+55.2%
Q4 23	+53.5%	+54.7%
Q1 24	+47.6%	+46.7%
Q2 24	+35.5%	+36.1%
Q3 24	+31.8%	+30.4%
Q4 24	+31.5%	+26.7%
Q1 25	+32.9%	+31.3%
Q2 25	+28.9%	+27.6%
Q1 26	+41.9%	+49.7%
Q2 26	+47.8%	+41.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$151M	66.0%
Q2 22	$164M	60.2%
Q3 22	$144M	43.2%
Q4 22	$146M	38.0%
Q1 23	$172M	40.8%
Q2 23	$209M	42.1%
Q3 23	$229M	41.1%
Q4 23	$251M	42.6%
Q1 24	$265M	42.4%
Q2 24	$300M	44.5%
Q3 24	$298M	40.6%
Q4 24	$305M	39.4%
Q1 25	$332M	40.1%
Q2 25	$356M	41.0%
Q1 26	$379M	36.4%
Q2 26	$404M	35.3%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$110M	$61M	$167M
Q2 22	$118M	$65M	$183M
Q3 22	$116M	$64M	$191M
Q4 22	$123M	$75M	$203M
Q1 23	$151M	$68M	$244M
Q2 23	$184M	$73M	$275M
Q3 23	$211M	$76M	$284M
Q4 23	$242M	$78M	$303M
Q1 24	$277M	$78M	$332M
Q2 24	$314M	$84M	$343M
Q3 24	$332M	$79M	$355M
Q4 24	$364M	$82M	$362M
Q1 25	$411M	$93M	$401M
Q2 25	$438M	$98M	$401M
Q1 26	$472M	$210M	$459M
Q2 26	$492M	$119M	$502M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	110.4%	-87.8%	22.6
Q2 22	104.4%	-71.5%	32.9
Q3 22	109.5%	-45.4%	64.1
Q4 22	101.5%	-38.1%	63.4
Q1 23	84.5%	-42.3%	42.2
Q2 23	82.7%	-38.5%	44.2
Q3 23	66.6%	-33.8%	32.7
Q4 23	53.5%	-37.4%	16.1
Q1 24	47.6%	-40.1%	7.5
Q2 24	35.5%	-38.0%	-2.4
Q3 24	31.8%	-24.4%	7.4
Q4 24	31.5%	-31.0%	0.5
Q1 25	32.9%	-33.2%	-0.3
Q2 25	28.9%	-35.7%	-6.8
Q1 26	41.9%	-35.8%	6.1
Q2 26	47.8%	-21.0%	26.8

Rule of 40

Revenue Segments

Quarter	Product	Professional Services And Other
Q1 23	$394M	$28M
Q2 23	$466M	$31M
Q3 23	$523M	$34M
Q4 23	$555M	$34M
Q1 24	$590M	$34M
Q2 24	$640M	$34M
Q3 24	$698M	$36M
Q4 24	$738M	$37M
Q1 25	$790M	$39M
Q2 25	$829M	$40M
Q1 26	$997M	$45M
Q2 26	$1.1B	$54M

Revenue by Geography

Quarter	Non-US	United States	Asia-Pacific and Japan	Emea
Q1 22	$43M	$186M	—	—
Q2 22	$55M	$217M	—	—
Q3 22	$69M	$266M	—	—
Q4 22	$50M	$334M	—	—
Q1 23	—	$345M	$19M	$58M
Q2 23	—	$405M	$23M	$70M
Q3 23	—	$453M	$25M	$79M
Q4 23	—	$477M	$26M	$86M
Q1 24	—	$500M	$29M	$95M
Q2 24	—	$534M	$34M	$106M
Q3 24	—	$588M	$36M	$110M
Q4 24	—	$617M	$36M	$121M
Q1 25	—	$656M	$41M	$132M
Q2 25	—	$686M	$45M	$138M
Q1 26	—	$814M	$59M	$169M
Q2 26	—	$892M	$68M	$185M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$1.1B	$2.8B	$3.8B
Q2 23	$907M	$3.0B	$4.0B
Q3 23	$819M	$3.1B	$3.9B
Q4 23	$940M	$3.1B	$4.0B
Q1 24	$653M	$3.3B	$3.9B
Q2 24	$755M	$3.0B	$3.8B
Q3 24	$982M	$2.6B	$3.5B
Q4 24	$1.8B	$2.1B	$3.8B
Q1 25	$1.3B	$2.2B	$3.5B
Q2 25	$1.3B	$1.9B	$3.2B
Q3 25	$2.1B	$2.0B	$4.2B
Q4 25	$2.6B	$2.0B	$4.6B
Q1 26	$2.2B	$1.7B	$3.9B
Q2 26	$1.9B	$1.7B	$3.6B
Q3 26	$1.9B	$1.4B	$3.4B
Q4 26	$2.8B	$1.2B	$4.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	291M	+2.6%	+22.2%
Q2 22	298M	+2.2%	+6.8%
Q3 22	303M	+1.8%	+7.7%
Q4 22	309M	+1.9%	+8.6%
Q1 23	314M	+1.8%	+7.9%
Q2 23	318M	+1.3%	+6.9%
Q3 23	320M	+0.6%	+5.7%
Q4 23	322M	+0.6%	+4.3%
Q1 24	324M	+0.7%	+3.1%
Q2 24	327M	+1.0%	+2.8%
Q3 24	329M	+0.6%	+2.9%
Q4 24	331M	+0.5%	+2.8%
Q1 25	334M	+0.8%	+2.9%
Q2 25	334M	+0.1%	+2.1%
Q1 26	333M	-0.4%	+1.0%
Q2 26	334M	+0.4%	+0.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$91.7K	2K
Q2 22	$109.1K	2K
Q3 22	$134.0K	2K
Q4 22	$96.1K	4K
Q1 23	$105.8K	4K
Q2 23	$124.6K	4K
Q3 23	$139.5K	4K
Q4 23	$100.1K	6K
Q1 24	$106.0K	6K
Q2 24	$114.6K	6K
Q3 24	$124.8K	6K
Q4 24	$110.6K	7K
Q1 25	$118.3K	7K
Q2 25	$124.0K	7K
Q1 26	$133.0K	8K
Q2 26	$146.2K	8K

Revenue / Employee