NYSE$SNOW
Snowflake Inc. · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Snowflake experienced significant growth in product revenue and customer base.
Snowflake reported strong second-quarter results with a 104% year-over-year increase in total revenue, driven by a 103% increase in product revenue. The company's net revenue retention rate remained high at 169%, and it expanded its customer base to 4,990 total customers.
- Total revenue increased by 104% year-over-year, reaching $272.2 million.
- Product revenue grew by 103% year-over-year, totaling $254.6 million.
- Remaining performance obligations grew by 122% year-over-year, reaching $1.5 billion.
- Net revenue retention rate was 169% as of July 31, 2021.
Headline financials
Revenue & EPS history
Snowflake · Revenue · Quarterly
$272M
Revenue by segment
Snowflake · $272M total across 2 segments · Q2 2022
- Product Revenue$255M+103.3%93.5%
- Professional Services & Other$17.6M+121.7%6.5%
Forward guidance
Snowflake provided guidance for the third quarter and full-year fiscal 2022, including expectations for product revenue growth and operating margin.
Tailwinds
- Expects third-quarter product revenue between $280 million and $285 million, representing 89-92% year-over-year growth.
- Anticipates a third-quarter operating loss margin of 7%.
- Projects full-year product revenue between $1.06 billion and $1.07 billion, representing 91-93% year-over-year growth.
- Forecasts a full-year operating loss margin of 9%.
- Estimates a full-year adjusted free cash flow margin of 7%.
Headwinds
- Third-quarter operating loss is expected to be 7%.
- Full-year operating loss is expected to be 9%.
- Guidance is subject to various risks and uncertainties.
- Future expenses may vary.
- Stock-based compensation expense-related charges are difficult to predict.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q2 2022
+3.2%
Avg return
Earnings day
+1.5%
Avg return
5 days after
-0.9%
Avg return
30 days after
56%
14 / 25 earnings
Positive
+36.1%
Q1 2027
Best reaction
-19.5%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2027 | — | — | — | |
| Q1 2027 | +36.1% | +48.7% | — | |
| 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 2016 | — | — | — | |
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| Q4 2015 | — | — | — | |
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| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — |
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