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Jul 31, 2021
Snowflake Q2 2022 Earnings Report
Snowflake experienced significant growth in product revenue and customer base.
Key Takeaways
Snowflake reported strong second-quarter results with a 104% year-over-year increase in total revenue, driven by a 103% increase in product revenue. The company's net revenue retention rate remained high at 169%, and it expanded its customer base to 4,990 total customers.
Total revenue increased by 104% year-over-year, reaching $272.2 million.
Product revenue grew by 103% year-over-year, totaling $254.6 million.
Remaining performance obligations grew by 122% year-over-year, reaching $1.5 billion.
Net revenue retention rate was 169% as of July 31, 2021.
Revenue by Segment
Forward Guidance
Snowflake provided guidance for the third quarter and full-year fiscal 2022, including expectations for product revenue growth and operating margin.
Positive Outlook
- Expects third-quarter product revenue between $280 million and $285 million, representing 89-92% year-over-year growth.
- Anticipates a third-quarter operating loss margin of 7%.
- Projects full-year product revenue between $1.06 billion and $1.07 billion, representing 91-93% year-over-year growth.
- Forecasts a full-year operating loss margin of 9%.
- Estimates a full-year adjusted free cash flow margin of 7%.
Challenges Ahead
- Third-quarter operating loss is expected to be 7%.
- Full-year operating loss is expected to be 9%.
- Guidance is subject to various risks and uncertainties.
- Future expenses may vary.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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