Snowflake (SNOW) $171 Up 7% post earnings.
- Snowflake press release (NYSE: SNOW): Q1 Non-GAAP EPS of $0.14 misses by $0.03.
- Revenue of $828.71M (+32.9% Y/Y) beats by $42.82M.
- Product revenue of $789.6 million in the first quarter, representing 34% year-over-year growth
- Net revenue retention rate of 128% – This is great.
- 485 customers with trailing 12-month product revenue greater than $1 million
- 709 Forbes Global 2000 customers
- Remaining performance obligations of $5.0 billion, representing 46% year-over-year growth. – This is another good sign. Growing faster than revenue growth.
- Q2 Outlook: Product revenue $805m – $810M; Operating income margin 3%.
- 2025 Outlook: Product revenue $3,300M; Operating income margin 3%; Adjusted free cash flow margin 26% – Good cash flow margin.