===Snowflake (SNOW) reported earnings on Wed 22 May 24 (a/h)

 

Snowflake misses by $0.04, beats on revs, guides for Q2 product revenue growth of 26-27%, FY25 product revenue growth of 24%

• Reports Q1 (Apr) earnings of $0.14 per share, excluding non-recurring items, $0.04 worse than the FactSet Consensus of $0.18; revenues rose 32.9% year/year to $828.7 mln vs the $787.4 mln FactSet Consensus.
• Product revenue for the quarter was $789.6 million, representing 34% year-over-year growth.
• Remaining performance obligations of $5.0 billion, representing 46% year-over-year growth.
• Net revenue retention rate of 128%.
• Co issues guidance for Q2, sees product revenue of $805-$810 mln, representing growth of 26-27%, and non-GAAP operating income margin of 3%.
• Co issues guidance for FY25, sees product revenue of $3.30 bln, representing growth of 24%, and operating income margin of 3%, adjusted free cash flow margin of 26%.