Snowflake Q1 product revenue $997M (+26% YoY); RPO $6.7B (+34%)

Snowflake Inc.

2026-Q1 EPS reported -$1.29 vs consensus $0.28 ▼ miss (-566.0%)

Product revenue $996.8M, up 26% YoY; net revenue retention rate 124%.
Remaining performance obligations $6.7B (+34% YoY); 606 customers with >$1M trailing product revenue.
GAAP operating loss $447.3M; non-GAAP operating income $91.7M (9% margin).
Free cash flow $183.4M; adjusted free cash flow $206.3M (20% margin).
CEO Sridhar Ramaswamy cited strong demand and opportunity in data and AI.

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