Slide 1: Snowflake Investor Presentation Second Quarter Fiscal 2026
SNOWFLAKE INVESTOR PRESENTATION Second Quarter Fiscal 2026 © 2025 Snowflake Inc. All Rights Reserved
Slide 2: Statement Regarding Use of Non-GAAP Financial Measures
Statement Regarding Use of Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures, which have not been prepared in accordance with generally accepted accounting principles in the United States (GAAP). These non-GAAP financial measures are in addition to, and not a
Slide 3: Safe Harbor
Safe Harbor Other than statements of historical fact, all statements contained in this presentation and accompanying oral Further information on these and additional risks, uncertainties, assumptions and other factors that could cause commentary (collectively, the Materials) are forward-looking stat
Slide 4: Data AI Transformation
DATA AI TRANSFORMATION © 2025 Snowflake Inc. All Rights Reserved
Slide 5: Snowflake Addresses the Entire Data Lifecycle
Snowflake Addresses the Entire Data Lifecycle DATA SOURCE PROCESSING CONSUMPTION SaaS Applications BI BRONZE SILVER GOLD Stream Data Science Extract Databases Load Apps Unstructured Structured IoT Sharing Catalog and Governance © 2025 Snowflake Inc. All Rights Reserved
Slide 6: Across Four Product Categories
Across Four Product Categories Data Applications & Engineering Analytics AI Collaboration © 2025 Snowflake Inc. All Rights Reserved
Slide 7: Easy Connected Trusted
EASY CONNECTED TRUSTED © 2025 Snowflake Inc. All Rights Reserved
Slide 8: An Ever Expanding Partner Ecosystem
An Ever Expanding Partner Ecosystem © 2025 Snowflake Inc. All Rights Reserved
Slide 9: Proven by Thousands of Customers
PROVEN BY THOUSANDS OF CUSTOMERS © 2025 Snowflake Inc. All Rights Reserved 9
Slide 10: AI Data Cloud Growth
AI Data Cloud Growth April 2020 July 2025 * Visualization based on actual AI Data Cloud sharing activity as of April 30, 2020 and July 31, 2025 respectively. © 2025 Snowflake Inc. All Rights Reserved 10
Slide 11: Financial Overview
FINANCIAL OVERVIEW © 2025 Snowflake Inc. All Rights Reserved
Slide 12: Large and Growing Market
Large and Growing Market Snowflake TAM ($ Billions) +2x Note: Calendar year ends December 31. Based on Snowflake estimates. © 2025 Snowflake Inc. All Rights Reserved 12
Slide 13: Q2 Financial Highlights
Q2 Financial Highlights GROWTH AT SCALE EXPANSION WITH LARGE CUSTOMER PRODUCT GROSS EXISTING CUSTOMERS MOMENTUM MARGIN 32% 125% 654 76% Y/Y Product Net Revenue $1M+ Product Non-GAAP Product Revenue Growth1 Retention Rate1 Revenue Customers1 Gross Margin2 Note: Fiscal year ends January 31. All figure
Slide 14: We Focus on Product Revenue and RPO
We Focus on Product Revenue and RPO 1 2 Product Revenue1 Customers typically pay Product Revenue is the leading annually in advance indicator of growth Book Bill Remaining Performance Customers’ draw Consumption Obligations (RPO)1 3 down from bookings 4 patterns dictate RPO represents contracted fut
Slide 15: Our Consumption Model
Our Consumption Model Revenue Recognition Pricing Model Billings Terms Consumption Consumption Typically Upfront Snowflake recognizes the substantial The platform is priced based on Snowflake typically bills customers annually majority of its revenue as customers consumption of compute, storage, and
Slide 16: Strong Combination of Scale & Growth
Strong Combination of Scale & Growth Annual Product Revenue1 (Millions) Quarterly Product Revenue1 (Millions) 30% Y/Y Growth 32% Y/Y Growth $3,462 $1,090 $997 $2,667 $943 $900 $829 $1,939 FY23 FY24 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Note: Fiscal year ends January 31. Numbers are rounded fo
Slide 17: Significant Customer Commitments
Significant Customer Commitments Remaining Performance Obligations1 (Millions) $6,867 $6,932 $6,687 $5,732 $5,231 48% 50% 50% 50% 50% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Expect to Recognize as Revenue in the Next Twelve Months RPO Note: Fiscal year ends January 31. Numbers are rounded for presen
Slide 18: Landing Strategic Organizations
Landing Strategic Organizations Total Customers1 Forbes Global 2000 Customers1 12,062 751 11,529 11,078 734 736 730 10,543 714 10,147 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Note: Fiscal year ends January 31. 1. See definitions provided in the Appendix. © 2025
Slide 19: Adding Quality Customers
Adding Quality Customers Customers Over $1M Product Revenue1 30% Y/Y Growth 654 604 576 537 504 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Note: Fiscal year ends January 31. 1. See definitions provided in the Appendix. © 2025 Snowflake Inc. All Rights Reserved 19
Slide 20: World-Class Retention Rate
World-Class Retention Rate Net Revenue Retention Rate1 128% 127% 126% 124% 125% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes 1. See definitions provided in the Appendix. © 2025 Snowflake Inc. All Rights Reserved 20
Slide 21: Focused on Efficient Investment
Focused on Efficient Investment Non-GAAP Adjusted Free Non-GAAP Product Gross Margin1 Non-GAAP Operating Margin1 Cash Flow Margin1 76% 76% 11% 8% 6% 5% Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes 1. Please see the A
Slide 22: Hiring to Address our Opportunity
Hiring to Address our Opportunity Employee Headcount by Function 8,769 8,240 7,630 7,823 7,834 1,189 1,123 1,002 1,080 1,084 1,200 1,145 1,152 1,174 1,183 2,333 2,289 2,241 2,286 2,257 3,683 4,047 3,235 3,283 3,310 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 S&M R&D G&A Cost of Revenue Note: Fiscal year
Slide 23: Global Revenue Opportunity
Global Revenue Opportunity Revenue Mix by Geography 5% 5% 5% 6% 6% 16% 16% 16% 16% 16% 79% 79% 79% 78% 78% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Americas EMEA APJ Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes. We attribute revenue to the Americas, EMEA, and APJ r
Slide 24: AI Data Cloud Metrics
AI Data Cloud Metrics DATA SHARING1 MARKETPLACE LISTINGS1 40% 3,400 of customers1 have at ≥1 stable edge1 21% Y/Y Growth Note: All figures are as of July 31, 2025. 1. See definitions provided in the Appendix. © 2025 Snowflake Inc. All Rights Reserved 24
Slide 25: Fiscal 2026 Guidance
Fiscal 2026 Guidance FY23 FY24 FY25 FY26 Guidance Product Revenue ($M) $1,939 $2,667 $3,462 $4,395 Y/Y Product Revenue Growth 70% 38% 30% 27% Non-GAAP Product Gross Margin1 75% 78% 76% 75% Non-GAAP Operating Margin1 5% 8% 6% 9% Non-GAAP Adjusted Free Cash Flow Margin1 25% 29% 26% 25% Note: Fiscal ye
Slide 26: Appendix
APPENDIX © 2025 Snowflake Inc. All Rights Reserved
Slide 27: Definitions
Definitions Customers Over $1M Product Revenue or $1M+ Product Revenue Customers: To calculate the number of customers with trailing 12-month product revenue greater than $1 million, we count the number of customers under capacity arrangements that contributed more than $1 million in product revenue
Slide 28: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Product Gross Profit, Sales & Marketing, Research & Development Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 FY23 FY24 FY25 Product revenue $ 829,250 $ 900,282 $ 943,303 $ 996,813 $ 1,090,496 $ 1,938,783 $ 2,666,849 $ 3,462,422 Professional services and other revenue 39,5
Slide 29: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations General & Administrative Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 FY23 FY24 FY25 Product revenue $ 829,250 $ 900,282 $ 943,303 $ 996,813 $ 1,090,496 $ 1,938,783 $ 2,666,849 $ 3,462,422 Professional services and other revenue 39,573 41,812 43,467 45,261 54,473 126,876
Slide 30: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Total Operating Expenses and Operating Income (Loss) Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 FY23 FY24 FY25 Product revenue $ 829,250 $ 900,282 $ 943,303 $ 996,813 $ 1,090,496 $ 1,938,783 $ 2,666,849 $ 3,462,422 Professional services and other revenue 39,573 41,812 4
Slide 31: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Net Income (Loss) and Net Income (Loss) Attributable to Snowflake Inc. Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 FY23 FY24 FY25 Product revenue $ 829,250 $ 900,282 $ 943,303 $ 996,813 $ 1,090,496 $ 1,938,783 $ 2,666,849 $ 3,462,422 Professional services and other reven
Slide 32: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Net Income (Loss) Per Share Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 FY23 FY24 FY25 Product revenue $ 829,250 $ 900,282 $ 943,303 $ 996,813 $ 1,090,496 $ 1,938,783 $ 2,666,849 $ 3,462,422 Professional services and other revenue 39,573 41,812 43,467 45,261 54,473 126,8
Slide 33: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Free Cash Flow and Adjusted Free Cash Flow Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 FY23 FY24 FY25 Product revenue $ 829,250 $ 900,282 $ 943,303 $ 996,813 $ 1,090,496 $ 1,938,783 $ 2,666,849 $ 3,462,422 Professional services and other revenue 39,573 41,812 43,467 45,2
Slide 34: Net Revenue, Total Customers, $1M+ Customers
NET REVENUE TOTAL CUSTOMERS $1M+ CUSTOMERS PRODUCT REVENUE Re EE NUE TE + 32% YoY Growth + 19% YoY Growth + 30% YoY Growth Customers with trailing 12-month product revenue greater than $1M FORBES GLOBAL 2000 SNOWFLAKE Al ADOPTION SNOWFLAKE Al DATA CLOUD CUSTOMERS MARKETPLACE LISTINGS Unified Platfor
Slide 35: Thank You
THANK YOU © 2025 Snowflake Inc. All Rights Reserved