Snowflake Set to Report Q1 FY2027 Earnings After Strong FY2026 Momentum
4d ago· 2 min readenNews
75/100
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Score75TypenewsSentimentpositive
Summary
Snowflake is set to report Q1 FY2027 earnings on May 27, building on strong FY2026 momentum. Key metrics from Q4 FY2026 include product revenue of $1.23 billion (up 30% YoY), remaining performance obligations of $9.77 billion (up 42% YoY), net revenue retention at 125%, and 740 net new customers — its strongest quarter on record. Shares have risen since February, driven by confidence in Snowflake's enterprise AI positioning. Market focus is on AI consumption metrics, particularly Snowflake Intelligence and Cortex Code adoption.
Key quotes
· 5 pulledInvestors await Snowflake's Q1 FY2027 results after the bell on May 27.
Q4 product revenue of $1.23 billion, up 30% year over year, and remaining performance obligations of $9.77 billion, up 42% year over year.
Net revenue retention remains at 125%, and the company added 740 net new customers, its strongest quarter on record.
Shares have risen sharply since February, reflecting confidence in Snowflake's role in enterprise AI.
Expectations center on AI consumption metrics, including Snowflake Intelligence and Cortex Code adoption.
Snowflake faces Q1 FY2027 results with focus on AI-driven consumption and margin progress against acquisition-related headwinds.
