**Snowflake Inc. Reports Fiscal Year 2026 Results, Revenue Reaches $4.7 Billion**
Snowflake Inc. (SNOW) has released its Form 10-K filing, detailing its financial performance and strategic developments for the fiscal year ended January 31, 2026. The company reported total revenue of $4.7 billion, marking a 29% increase compared to the $3.6 billion reported for the fiscal year ended January 31, 2025. This growth rate is consistent with the 29% increase observed between fiscal years 2024 and 2025. Despite the revenue growth, Snowflake reported a net loss of $1.3 billion for fiscal year 2026, consistent with the $1.3 billion net loss reported for the previous fiscal year, and up from the $838.0 million net loss reported for the fiscal year ended January 31, 2024.
Key operational developments included an increase in total customers to 13,328 as of January 31, 2026, up from 10,996 at the end of the previous fiscal year. The company also reported that 790 of the Forbes Global 2000 were Snowflake customers, contributing approximately 43% of the company's revenue for the fiscal year. Snowflake's net revenue retention rate remained strong at 125%, indicating continued expansion within its existing customer base. The number of customers contributing more than $1 million in trailing 12-month product revenue increased to 733, compared to 576 in the prior year. These figures reflect the company's continued focus on expanding its platform's capabilities and driving increased usage among its existing customer base.
Strategic initiatives during the fiscal year included the launch of Snowflake Intelligence within its AI product category, enabling customers to create data agents. The company also launched Snowflake Postgres within its new transactions product category, a fully managed Postgres offering. In February 2026, Snowflake acquired Observe, Inc., an AI-powered observability platform, for approximately $596.2 million, consisting of cash and stock. These developments are part of Snowflake's broader strategy to advance the AI Data Cloud and expand its product offerings. The company also continues to invest in its Native Application program to support developers in building, operating, and marketing applications in the AI Data Cloud.
Looking ahead, Snowflake intends to continue investing in innovation, acquiring new customers, driving increased usage within its existing customer base, expanding its global footprint, and growing its partner network. The company acknowledges that its forward-looking statements are subject to various risks and uncertainties, including those related to competition, technological innovation, security breaches, economic conditions, and regulatory changes. Snowflake's Form 10-K filing provides a comprehensive overview of the company's performance and strategic direction, offering insights into its growth trajectory and the challenges it faces in the evolving cloud computing market.
About Snowflake Inc.
Snowflake Inc. is a cloud computing company specializing in data management and analytics through its innovative Data Cloud platform. It enables organizations to consolidate and share data securely, addressing the challenges of data silos. With a focus on AI and machine learning, Snowflake targets businesses of all sizes, including 691 of the Forbes Global 2000. The company is expanding its offerings with industry-specific solutions and a growing partner network to enhance collaboration and data monetization.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
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- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
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