Snowflake $SNOW Q1 FY27: revenue $1.39B (+33% YoY), product revenue $1.33B, net revenue retention 126%; FY27 guide raised to $5.84B
Snowflake $SNOW Q1 FY27: revenue $1.39B (+33% YoY), product revenue $1.33B (+34%), net revenue retention 126%, RPO $9.21B (+38%), 779 customers with >$1M TTM product revenue. FY27 product revenue guide raised to $5.84B. Source: SEC 8-K.
Snowflake $SNOW reported Q1 fiscal 2027 results on May 27, with revenue of $1.39 billion, up 33% year over year, and product revenue of $1.33 billion, up 34% year over year. Net revenue retention rate came in at 126%. Remaining performance obligations grew to $9.21 billion, a 38% year-over-year increase. The company ended the quarter with 13,912 total customers, adding 616 net new, and now counts 779 customers with trailing-12-month product revenue greater than $1 million, up 29% year over year. Non-GAAP operating margin expanded more than 300 basis points year over year to 12%. Snowflake raised full-year product revenue guidance to $5.84 billion, reflecting 31% year-over-year growth. Q2 product revenue guidance was set at $1.415 billion to $1.42 billion, projecting roughly 30% year-over-year growth. Source: Snowflake Form 8-K filing with the SEC, May 27, 2026.