Snowflake announced financial results for the third quarter of fiscal 2026, ended October 31, 2025.
Revenue for the quarter was $1.21 billion, showing 29% year-over-year growth.
Product revenue was $1.16 billion, representing a 29% year-over-year growth.
Product Revenue Growth
Product revenue rose 29% year-over-year to $1.16 billion.
Net Revenue Retention
Net revenue retention rate stood at 125% as of October 31, 2025.
Customer Base Expansion
688 customers had trailing 12-month product revenue over $1 million, and 766 Forbes Global 2000 customers.
Performance Obligations Increase
Remaining performance obligations reached $7.88 billion, up by 37% year-over-year.
- Snowflake's product revenue increased by 29% year-over-year to $1.16 billion, underlining strong growth in the quarter.
- The company's net revenue retention rate of 125% reflects its ability to retain and expand existing customer relationships.
- Expansion in customer base, with 688 customers exceeding $1 million in revenue and 766 Forbes Global 2000 customers, emphasizes market reach and penetration.
- A significant increase in remaining performance obligations to $7.88 billion signifies sustained demand for Snowflake's services.
With impressive revenue growth, high net revenue retention, and an expanding customer base, Snowflake's Q3 fiscal 2026 results demonstrate solid performance and market presence in the AI Data Cloud industry.