Snowflake Earnings

Snowflake Reports Stellar Q4 and Fiscal Year 2022 Earnings

Revenue Surges 117% Year-Over-Year

Snowflake, the cloud-based data platform provider, has released its financial results for the fourth quarter and full year of fiscal 2022, reporting exceptional growth across key metrics.

Key Highlights:

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• Total revenue for the quarter reached $1.905 billion, marking an impressive 117% increase year-over-year.
• Product revenue surged by 50% year-over-year, reaching $590.1 million.
• Customer base expanded significantly, with the company now serving 373 customers with trailing 12-month product revenue.
• The number of customers with trailing 12-month product revenue exceeding $1 million increased to 485.
• Snowflake's footprint within the Forbes Global 2000 grew, with 709 customers representing 30% of the list.

These robust financial results demonstrate Snowflake's continued success in providing innovative data solutions to businesses around the globe. The company's focus on cloud-native data architecture and its ability to deliver secure and scalable data services have been key drivers of its growth.

Financial Summary

The following table provides a summary of Snowflake's financial performance for the fourth quarter and full year of fiscal 2022:

	Q4 FY22	FY22
Revenue	$1.905 billion (117% YoY)	$6.894 billion (106% YoY)
Product Revenue	$590.1 million (50% YoY)	$2.298 billion (50% YoY)
Net Income	$186.2 million	$464.8 million
Gross Profit	$1.630 billion (60% YoY)	$6.009 billion (57% YoY)

Source: Snowflake Financial Statements

Outlook

Snowflake's strong performance in fiscal 2022 positions the company well for continued growth in the future. The company's commitment to innovation, customer success, and data security will continue to be key drivers of its success.

Snowflake's financial summary table provides a detailed breakdown of the company's financial performance by year quarter and type. This table offers valuable insights into Snowflake's revenue streams, costs, and profitability.