Slide 1: Snowflake Investor Presentation First Quarter Fiscal 2027
SNOWFLAKE INVESTOR PRESENTATION First Quarter Fiscal 2027 © 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 our ability to increase our penetration into existing markets and enter and grow new markets, including highly- commentary (collectively, the Materials) are forward-looking state
Slide 4: Data AI Transformation
DATA AI TRANSFORMATION © 2026 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 © 2026 Snowflake Inc. All Rights Reserved
Slide 6: Across Five Product Categories
Across Five Product Categories Data Applications & Engineering Analytics Transactions AI Collaboration © 2026 Snowflake Inc. All Rights Reserved
Slide 7: Easy Connected Trusted
EASY CONNECTED TRUSTED © 2026 Snowflake Inc. All Rights Reserved
Slide 8: An Ever Expanding Partner Ecosystem
An Ever Expanding Partner Ecosystem © 2026 Snowflake Inc. All Rights Reserved
Slide 9: Proven By Thousands Of Customers
Proven By Thousands Of Customers © 2026 Snowflake Inc. All Rights Reserved
Slide 10: AI Data Cloud Growth
AI Data Cloud Growth April 2020 April 2026 * Visualization based on actual AI Data Cloud sharing activity as of April 30, 2020 and April 30, 2026 respectively. © 2026 Snowflake Inc. All Rights Reserved 10
Slide 11: Financial Overview
FINANCIAL OVERVIEW © 2026 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. © 2026 Snowflake Inc. All Rights Reserved 12
Slide 13: Q1 Financial Highlights
Q1 Financial Highlights GROWTH AT SCALE EXPANSION WITH LARGE CUSTOMER PRODUCT GROSS EXISTING CUSTOMERS MOMENTUM MARGIN 34% 126% 779 75% 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 futu
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) 29% 34% Y/Y Growth Y/Y Growth $4,472 $1,334 $1,227 $1,158 $3,462 $1,090 $997 $2,667 FY24 FY25 FY26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Note: Fiscal year ends January 31. Numbers are roun
Slide 17: Significant Customer Commitments
Significant Customer Commitments Remaining Performance Obligations1 (Millions) $9,772 $9,205 $7,881 $6,687 $6,932 46% 50% 50% 50% 48% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 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 13,912 813 13,296 800 787 12,552 780 11,938 767 11,411 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Note: Fiscal year ends January 31. 1. See definitions provided in the Appendix. © 2026
Slide 19: Adding Quality Customers
Adding Quality Customers Customers Over $1M Product Revenue1 29% Y/Y Growth 779 733 687 654 604 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Note: Fiscal year ends January 31. 1. See definitions provided in the Appendix. © 2026 Snowflake Inc. All Rights Reserved 19
Slide 20: World-Class Retention Rate
World-Class Retention Rate Net Revenue Retention Rate1 124% 125% 125% 125% 126% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes 1. See definitions provided in the Appendix. © 2026 Snowflake Inc. All Rights Reserved 20
Slide 21: Focused on Efficient Investment
Focused on Efficient Investment Non-GAAP Adjusted Free Non-GAAP Product Gross Margin1 Non-GAAP Operating Margin1 Cash Flow Margin1 76% 12% 75% 20% 19% 9% Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes 1. Please see the
Slide 22: Hiring to Address our Opportunity
Hiring to Address our Opportunity Employee Headcount by Function 9,023 9,060 9,250 8,769 8,240 1,273 1,189 1,258 1,288 1,123 1,221 1,189 1,174 1,200 1,145 2,403 2,424 2,499 2,333 2,289 4,047 4,141 4,159 4,304 3,683 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 S&M R&D G&A Cost of Revenue Note: Fiscal year
Slide 23: Global Revenue Opportunity
Global Revenue Opportunity Revenue Mix by Geography 6% 6% 6% 6% 6% 16% 16% 16% 16% 16% 78% 78% 78% 78% 78% Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Americas EMEA APJ Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes. We attribute revenue to the Americas, EMEA, and APJ r
Slide 24: AI Data Cloud Metrics
AI Data Cloud Metrics DATA SHARING1 MARKETPLACE LISTINGS1 42% 3,971 of Customers1 have at ≥1 stable edge1 28% Y/Y Growth Note: All figures are as of April 30, 2026. 1. See definitions provided in the Appendix. © 2026 Snowflake Inc. All Rights Reserved 24
Slide 25: Fiscal 2027 Guidance
Fiscal 2027 Guidance FY24 FY25 FY26 FY27 Guidance Product Revenue ($M) $2,667 $3,462 $4,472 $5,840 Y/Y Product Revenue Growth 38% 30% 29% 31% Non-GAAP Product Gross Margin1 78% 76% 76% 75.0% Non-GAAP Operating Margin1 8% 6% 10% 13.5% Non-GAAP Adjusted Free Cash Flow Margin1 29% 26% 25% 23.0% Note: F
Slide 26: Appendix
APPENDIX © 2026 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 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 FY24 FY25 FY26 Product revenue $ 996,813 $ 1,090,496 $ 1,158,377 $ 1,226,631 $ 1,334,329 $ 2,666,849 $ 3,462,422 $ 4,472,317 Professional services and other revenu
Slide 29: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations General & Administrative Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 FY24 FY25 FY26 Product revenue $ 996,813 $ 1,090,496 $ 1,158,377 $ 1,226,631 $ 1,334,329 $ 2,666,849 $ 3,462,422 $ 4,472,317 Professional services and other revenue 45,261 54,473 54,532 57,363 56,622 13
Slide 30: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Total Operating Expenses and Operating Income (Loss) Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 FY24 FY25 FY26 Product revenue $ 996,813 $ 1,090,496 $ 1,158,377 $ 1,226,631 $ 1,334,329 $ 2,666,849 $ 3,462,422 $ 4,472,317 Professional services and other revenue 45,261 54
Slide 31: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Net Income (Loss) and Net Income (Loss) Attributable to Snowflake Inc. Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 FY24 FY25 FY26 Product revenue $ 996,813 $ 1,090,496 $ 1,158,377 $ 1,226,631 $ 1,334,329 $ 2,666,849 $ 3,462,422 $ 4,472,317 Professional services and other
Slide 32: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Net Income (Loss) Per Share Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 FY24 FY25 FY26 Product revenue $ 996,813 $ 1,090,496 $ 1,158,377 $ 1,226,631 $ 1,334,329 $ 2,666,849 $ 3,462,422 $ 4,472,317 Professional services and other revenue 45,261 54,473 54,532 57,363 56,622
Slide 33: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Free Cash Flow and Adjusted Free Cash Flow Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 FY24 FY25 FY26 Product revenue $ 996,813 $ 1,090,496 $ 1,158,377 $ 1,226,631 $ 1,334,329 $ 2,666,849 $ 3,462,422 $ 4,472,317 Professional services and other revenue 45,261 54,473 54,53
Slide 34: Product Revenue and AI Data Cloud Momentum
PRODUCT REVENUE NET REVENUE TOTAL $IM+ RETENTION RATE CUSTOMERS CUSTOMERS $1.33B + 38% YoY Growth + 29% YoY Growth in net new additions Customers with trailing 12-month product revenue greater than $1M ENTERPRISE DATA SHARING Al ADOPTION SNOWFLAKE Al DATA CLOUD MOMENTUM Data Engineering Applications
Slide 35: Thank You
THANK YOU © 2026 2025 Snowflake Inc. All Rights Reserved