Snowflake GAAP EPS of -$0.70 misses by $0.12, revenue of $497.25M beats by $29.94M

Aug. 24, 2022 4:07 PM ETSnowflake Inc. (SNOW)By: Pranav Ghumatkar, SA News Editor50 Comments
  • Snowflake press release (NYSE:SNOW): Q2 GAAP EPS of -$0.70 misses by $0.12.
  • Revenue of $497.25M (+82.7% Y/Y) beats by $29.94M.
  • Remaining performance obligations of $2.7B, representing 78% year-over-year growth.
  • 6,808 total customers.
  • Net revenue retention rate of 171%.
  • 246 customers with trailing 12-month product revenue greater than $1M.
  • Q3 Outlook: Product revenue $500M-505M, Year/Year Growth of 60-62%, operating margin 2%.
  • 2023 Outlook: Product revenue $1,905M-1,915M, Year/Year Growth of 67-68%, Product gross profit margin of 75%, Operating margin 2%, Adjusted free cash flow margin 17%.
  • Shares +10.85%.

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