Snowflake Inc - Ordinary Shares - Class A

Strong Q4 Fiscal Year '25 Performance: Snowflake reported product revenue of $943 million for Q4, reflecting a robust 28% year-over-year growth. FY '25 product revenue reached $3.5 billion, up 30% YOY. The remaining performance obligations totaled $6.9 billion, growing 33% YOY, indicating strong future revenue visibility.

Net Revenue Retention and Customer Growth: The company's net revenue retention stood at a healthy 126%. The number of $1 million-plus customers has increased, showing strong momentum among their largest clients. This bodes well for ongoing revenue growth through expansions and cross-selling opportunities.

Outlook for FY '26: For Q1 FY '26, Snowflake expects product revenue between $955 million and $960 million, representing 21% to 22% growth YOY. For the full year FY '26, they forecast approximately $4.28 billion in product revenue, equating to 24% growth. There is anticipated acceleration in revenue growth rates in the second half of the year due to new products and better consumption activity.