NYSE$SNOW
Snowflake Inc. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Snowflake's Q1 2024 results were announced, featuring a 48% year-over-year revenue growth and a product revenue increase of 50%.
Snowflake reported strong first-quarter results, with total revenue reaching $623.6 million, a 48% increase year-over-year. Product revenue grew by 50% to $590.1 million. The company's net revenue retention rate remained high at 151%, and it increased its customer base with trailing 12-month product revenue greater than $1 million to 373.
- Total revenue reached $623.6 million, representing a 48% year-over-year increase.
- Product revenue grew to $590.1 million, a 50% increase year-over-year.
- Net revenue retention rate was 151% as of April 30, 2023.
- Remaining performance obligations (RPO) totaled $3.4 billion, a 31% year-over-year growth.
Headline financials
Revenue & EPS history
Snowflake · Revenue · Quarterly
$624M
Revenue by segment
Snowflake · $624M total across 2 segments · Q1 2024
- Product Revenue$590M+49.6%94.6%
- Professional Services & Other$33.5M+20.0%5.4%
Forward guidance
Snowflake provided guidance for the second quarter of fiscal year 2024, projecting product revenue between $620 million and $625 million, representing a 33-34% year-over-year growth.
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 2024
+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 | — | — | — | |
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| Q4 2015 | — | — | — | |
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| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — |
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