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Snowflake Hits $1.1 Billion Revenue, AI Drives Growth

8/28/2025

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Summary

Story summary

Snowflake achieved $1.1 billion in revenue for Q2 FY2026, marking a 32% year-over-year increase.
The Q3 product revenue forecast is between $1.125 billion and $1.130 billion, signaling continued growth.
CEO Sridhar Ramaswamy emphasizes AI integration and profitability, with a GAAP product gross margin of 72%.
Over 6,100 accounts utilize Snowflake's AI features weekly, underscoring its role in the digital economy.

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Story summary

Snowflake achieved $1.1 billion in revenue for Q2 FY2026, marking a 32% year-over-year increase.
The Q3 product revenue forecast is between $1.125 billion and $1.130 billion, signaling continued growth.
CEO Sridhar Ramaswamy emphasizes AI integration and profitability, with a GAAP product gross margin of 72%.
Over 6,100 accounts utilize Snowflake's AI features weekly, underscoring its role in the digital economy.