NYSE$SNOW
Snowflake Inc. · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Snowflake's Q1 2022 financial results were reported, showcasing significant growth and strong customer engagement.
Snowflake announced strong Q1 results with triple-digit growth in product revenue, reflecting strength in customer consumption. Remaining performance obligations showed a robust increase year-on-year, indicating strength in sales across the board.
- Product revenue reached $213.8 million, representing a 110% year-over-year increase.
- Remaining performance obligations totaled $1.4 billion, marking a 206% year-over-year growth.
- The company's net revenue retention rate stood at 168%.
- Snowflake served 4,532 total customers, including 104 with trailing 12-month product revenue exceeding $1 million.
Headline financials
Revenue & EPS history
Snowflake · Revenue · Quarterly
$229M
Revenue by segment
Snowflake · $229M total across 2 segments · Q1 2022
- Product Revenue$214M+110.0%93.4%
- Professional Services & Other$15.1M+115.5%6.6%
Forward guidance
Snowflake provided guidance for the second quarter and full year of fiscal 2022, including estimates for product revenue, product gross profit, operating loss and adjusted free cash flow.
Tailwinds
- Second quarter product revenue is expected to be between $235 million and $240 million, representing year-over-year growth of 88% to 92%.
- Full-year product revenue is projected to be between $1.02 billion and $1.035 billion, indicating year-over-year growth of 84% to 87%.
- Full-year product gross profit is anticipated to be approximately 72%.
- Second quarter operating loss is expected to be approximately 19%.
- Full-year adjusted free cash flow is expected to be approximately 0%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2022
+1.9%
Avg return
Earnings day
-0.4%
Avg return
5 days after
-0.9%
Avg return
30 days after
54%
13 / 24 earnings
Positive
+31.6%
Q3 2025
Best reaction
-19.5%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | +2.2% | -2.0% | -9.7% | |
| Q3 2026 | -11.4% | -16.0% | -18.2% | |
| Q2 2026 | +20.2% | +16.6% | +12.1% | |
| Q1 2026 | +13.5% | +15.2% | +18.4% | |
| Q4 2025 | +4.5% | +4.5% | -9.4% | |
| Q3 2025 | +31.6% | +31.6% | +27.7% | |
| Q2 2025 | -12.7% | -10.6% | -16.4% | |
| Q1 2025 | -5.0% | -4.0% | -21.5% | |
| Q4 2024 | -19.5% | -24.0% | -30.9% | |
| Q3 2024 | +9.4% | +9.8% | +16.0% | |
| Q2 2024 | -3.2% | -2.5% | -1.9% | |
| Q1 2024 | -15.6% | -14.4% | +1.8% | |
| Q4 2023 | -12.4% | -8.0% | -0.1% | |
| Q3 2023 | +12.8% | -0.7% | +5.1% | |
| Q2 2023 | +28.2% | +21.8% | +12.5% | |
| Q1 2023 | -2.2% | +0.2% | +16.9% | |
| Q4 2022 | -14.9% | -26.7% | -10.8% | |
| Q3 2022 | +5.9% | +0.4% | -0.4% | |
| Q2 2021 | +3.0% | +3.8% | +0.9% | |
| Q2 2022 | +8.5% | +5.9% | +12.5% | |
| Q1 2022 | +6.6% | +3.5% | +7.4% | |
| Q4 2020 | -8.0% | -20.9% | -12.5% | |
| Q4 2021 | -8.0% | -20.9% | -12.5% | |
| Q3 2021 | +11.2% | +27.3% | -7.9% | |
| Q1 2021 | — | — | — | |
| Q3 2020 | — | — | — | |
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| Q3 2017 | — | — | — | |
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| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — |
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