Slide 1: Snowflake Investor Presentation: First Quarter Fiscal 2026
SNOWFLAKE INVESTOR PRESENTATION First 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: Every Organization Struggles with Silos
Every Organization Struggles with Silos Finance Sales Enterprise Applications IoT Suppliers Third-Party Web/ Log Data OLTP Agencies Product Databases Usage © 2025 Snowflake Inc. All Rights Reserved 4
Slide 5: There Is No AI Strategy Without a Data Strategy
THERE IS NO AI STRATEGY WITHOUT A DATA STRATEGY © 2025 Snowflake Inc. All Rights Reserved
Slide 6: A Single Data Foundation to Eliminate Silos
A Single Data Foundation to Eliminate Silos © 2025 Snowflake Inc. All Rights Reserved 6
Slide 7: Unified Data. All Architectures.
Unified Data. All Architectures. SEMI-STRUCTURED Data Data UNSTRUCTURED STRUCTURED Warehouse Lake Data Data Mesh Lakehouse OPEN FORMATS CLOUD / ON-PREM / Fabric © 2025 Snowflake Inc. All Rights Reserved 7
Slide 8: All Workloads & Users
All Workloads & Users PYTHON ML App Engineers Developers SQL JAVA Data Data Engineers Scientists SQL Business Analysts Users Product Users Categories CONTAINERS SCALA © 2025 Snowflake Inc. All Rights Reserved 8
Slide 9: Universal Governance
Universal Governance SECURITY COMPLIANCE PRIVACY All Content Replication & BDR Data z Apps Models 40+ regions ACCESS INTEROPERABILITY © 2025 Snowflake Inc. All Rights Reserved 9
Slide 10: Backed by Unique Platform Architecture
Backed by Unique Platform Architecture 10
Slide 11: An Ever Expanding Partner Ecosystem
AN EVER EXPANDING PARTNER ECOSYSTEM © 2025 Snowflake Inc. All Rights Reserved 11
Slide 12: Proven by Thousands of Customers
PROVEN BY THOUSANDS OF CUSTOMERS © 2025 Snowflake Inc. All Rights Reserved 12
Slide 13: AI Data Cloud Growth
AI Data Cloud Growth April 2020 April 2025 * Visualization based on actual AI Data Cloud sharing activity as of April 30, 2020 and April 30, 2025 respectively. © 2025 Snowflake Inc. All Rights Reserved 13
Slide 14: Financial Overview
FINANCIAL OVERVIEW © 2025 Snowflake Inc. All Rights Reserved
Slide 15: Large and Growing Market
Large and Growing Market Snowflake Platform TAM ($ Billions) $342 +2x $152 CY23 CY24 CY25 CY26 CY27 CY28 Note: Calendar year ends December 31. Charts/graphics created by Snowflake based on Gartner research. Source: Gartner, Forecast: Enterprise Infrastructure Software, Worldwide, 2022-2028, 1Q24 Upd
Slide 16: Q1 Financial Highlights
Q1 Financial Highlights GROWTH AT SCALE EXPANSION WITH LARGE CUSTOMER PRODUCT GROSS EXISTING CUSTOMERS MOMENTUM MARGIN 26% 124% 606 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 17: 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 18: 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 19: Strong Combination of Scale & Growth
Strong Combination of Scale & Growth Annual Product Revenue1 (Millions) Quarterly Product Revenue1 (Millions) 30% Y/Y Growth 26% Y/Y Growth $3,462 $997 $943 $900 $2,667 $829 $790 $1,939 FY23 FY24 FY25 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Note: Fiscal year ends January 31. Numbers are rounded for
Slide 20: Significant Customer Commitments
Significant Customer Commitments Remaining Performance Obligations1 (Millions) $6,867 $6,687 $5,732 $5,231 $4,988 48% 50% 51% 50% 50% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Expect to Recognize as Revenue in the Next Twelve Months RPO Note: Fiscal year ends January 31. Numbers are rounded for presen
Slide 21: Landing Strategic Organizations
Landing Strategic Organizations Total Customers1 Forbes Global 2000 Customers1 11,578 751 754 11,127 749 10,588 734 727 10,189 9,741 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Note: Fiscal year ends January 31. 1. See definitions provided in the Appendix. © 2025
Slide 22: Adding Quality Customers
Adding Quality Customers Customers Over $1M Product Revenue1 27% Y/Y Growth 606 579 540 507 479 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Note: Fiscal year ends January 31. 1. See definitions provided in the Appendix. © 2025 Snowflake Inc. All Rights Reserved 22
Slide 23: World-Class Retention Rate
World-Class Retention Rate Net Revenue Retention Rate1 129% 128% 127% 126% 124% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes 1. See definitions provided in the Appendix. © 2025 Snowflake Inc. All Rights Reserved 23
Slide 24: Focused on Efficient Investment
Focused on Efficient Investment Non-GAAP Adjusted Free Non-GAAP Product Gross Margin1 Non-GAAP Operating Margin1 Cash Flow Margin1 77% 76% 9% 44% 4% 20% Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Q1 FY25 Q1 FY26 Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes 1. Please see the
Slide 25: Hiring to Address our Opportunity
Hiring to Address our Opportunity Employee Headcount by Function 8,240 7,630 7,823 7,834 7,296 1,123 1,002 1,080 1,084 963 1,145 1,152 1,174 1,183 1,095 2,289 2,241 2,286 2,257 2,108 3,283 3,310 3,683 3,130 3,235 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 S&M R&D G&A Cost of Revenue Note: Fiscal year e
Slide 26: Global Revenue Opportunity
Global Revenue Opportunity Revenue Mix by Geography 5% 5% 5% 5% 6% 16% 16% 16% 16% 16% 79% 79% 79% 79% 78% Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Americas EMEA APJ Note: Fiscal year ends January 31. Numbers are rounded for presentation purposes. We attribute revenue to the Americas, EMEA, and APJ r
Slide 27: AI Data Cloud Metrics
AI Data Cloud Metrics DATA SHARING1 MARKETPLACE LISTINGS1 39% 3,098 of customers1 have at ≥1 stable edge1 21% Y/Y Growth Note: All figures are as of April 30, 2025. 1. See definitions provided in the Appendix. © 2025 Snowflake Inc. All Rights Reserved 27
Slide 28: Fiscal 2026 Guidance
Fiscal 2026 Guidance FY23 FY24 FY25 FY26 Guidance Product Revenue ($M) $1,939 $2,667 $3,462 $4,325 Y/Y Product Revenue Growth 70% 38% 30% 25% Non-GAAP Product Gross Margin1 75% 78% 76% 75% Non-GAAP Operating Margin1 5% 8% 6% 8% Non-GAAP Adjusted Free Cash Flow Margin1 25% 29% 26% 25% Note: Fiscal ye
Slide 29: Appendix
APPENDIX © 2025 Snowflake Inc. All Rights Reserved
Slide 30: 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 31: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Product Gross Profit, Sales & Marketing, Research & Development Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 FY23 FY24 FY25 Product revenue $ 789,587 $ 829,250 $ 900,282 $ 943,303 $ 996,813 $ 1,938,783 $ 2,666,849 $ 3,462,422 Professional services and other revenue 39,122
Slide 32: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations General & Administrative Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 FY23 FY24 FY25 Product revenue $ 789,587 $ 829,250 $ 900,282 $ 943,303 $ 996,813 $ 1,938,783 $ 2,666,849 $ 3,462,422 Professional services and other revenue 39,122 39,573 41,812 43,467 45,261 126,876 13
Slide 33: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Total Operating Expenses and Operating Income (Loss) Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 FY23 FY24 FY25 Product revenue $ 789,587 $ 829,250 $ 900,282 $ 943,303 $ 996,813 $ 1,938,783 $ 2,666,849 $ 3,462,422 Professional services and other revenue 39,122 39,573 41,
Slide 34: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Net Income (Loss) and Net Income (Loss) Attributable to Snowflake Inc. Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 FY23 FY24 FY25 Product revenue $ 789,587 $ 829,250 $ 900,282 $ 943,303 $ 996,813 $ 1,938,783 $ 2,666,849 $ 3,462,422 Professional services and other revenue
Slide 35: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Net Income (Loss) Per Share Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 FY23 FY24 FY25 Product revenue $ 789,587 $ 829,250 $ 900,282 $ 943,303 $ 996,813 $ 1,938,783 $ 2,666,849 $ 3,462,422 Professional services and other revenue 39,122 39,573 41,812 43,467 45,261 126,876
Slide 36: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Free Cash Flow and Adjusted Free Cash Flow Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 FY23 FY24 FY25 Product revenue $ 789,587 $ 829,250 $ 900,282 $ 943,303 $ 996,813 $ 1,938,783 $ 2,666,849 $ 3,462,422 Professional services and other revenue 39,122 39,573 41,812 43,467
Slide 37: Net Revenue, Total Customers, $1M+ Customers
NET REVENUE TOTAL CUSTOMERS $1M+ CUSTOMERS PRODUCT REVENUE Re EE NUE TE + 26% YoY Growth + 19% YoY Growth +27% YoY Growth Customers with Trailing 12-Month Product Revenue Greater than $1M FORBES GLOBAL 2000 SNOWFLAKE AI/ML ADOPTION SNOWFLAKE Al DATA CLOUD CUSTOMERS MARKETPLACE LISTINGS Unified Platf
Slide 38: Thank You
THANK YOU © 2025 Snowflake Inc. All Rights Reserved