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Snowflake Inc.

SNOW

Snowflake Inc. • NYSE
$250.94 ▲ 0.92% (+2.28)
Market Cap $83.50 B
52w High $280.67
52w Low $120.10
Dividend Yield 0%
P/E -60.76
Volume 1.93M
Outstanding Shares 332.76M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $1.145B ▲ $1.113B ▼ $-298.017M ▲ -26.028% ▲ $-0.89 ▲ $-240.957M ▲
Q1-2026 $1.042B ▲ $1.141B ▲ $-430.092M ▼ -41.273% ▼ $-1.29 ▼ $-373.348M ▼
Q4-2025 $986.77M ▲ $1.04B ▲ $-327.474M ▼ -33.186% ▲ $-0.99 ▼ $-277.855M ▲
Q3-2025 $942.094M ▲ $986.657M ▲ $-324.279M ▼ -34.421% ▲ $-0.98 ▼ $-278.23M ▲
Q2-2025 $868.823M $936.048M $-316.899M -36.475% $-0.95 $-310.192M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $3.587B ▼ $8.197B ▲ $5.817B ▲ $2.373B ▼
Q1-2026 $3.911B ▼ $8.157B ▼ $5.743B ▼ $2.408B ▼
Q4-2025 $4.638B ▲ $9.034B ▲ $6.027B ▲ $3B ▲
Q3-2025 $4.157B ▲ $8.202B ▲ $5.268B ▲ $2.929B ▼
Q2-2025 $3.231B $6.944B $2.806B $4.129B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $-297.93M ▲ $74.896M ▼ $-299.252M ▼ $-134.039M ▲ $-358.57M ▲ $58.231M ▼
Q1-2026 $-429.952M ▼ $228.373M ▼ $-55.983M ▼ $-564.057M ▼ $-385.715M ▼ $183.384M ▼
Q4-2025 $-325.724M ▲ $432.725M ▲ $224.888M ▲ $-120.118M ▼ $479.87M ▼ $421.448M ▲
Q3-2025 $-327.902M ▼ $101.706M ▲ $-267.142M ▼ $1.018B ▲ $866.883M ▲ $88.266M ▲
Q2-2025 $-317.77M $69.865M $384.078M $-490.546M $-48.366M $64.822M

Revenue by Products

Product Q3-2025Q4-2025Q1-2026Q2-2026
Product
Product
 $900.00M ▲$940.00M ▲$1.00Bn ▲$1.09Bn ▲
Professional Services And Other
Professional Services And Other
 $40.00M ▲$40.00M ▲$50.00M ▲$50.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Snowflake’s income statement shows a classic high‑growth software profile: revenue has climbed rapidly each year and gross margins are very strong, meaning the core service is quite profitable before overhead. At the same time, the company still reports sizable operating and net losses, mainly because it spends heavily on sales, marketing, and product development to fuel growth. Those losses have become smaller relative to revenue over time, but the business is not yet profitable on a traditional accounting basis, so the path to true earnings remains an important watchpoint.

Balance Sheet

Balance Sheet The balance sheet is sizable and has expanded over the past few years, reflecting growth in the business and its customer base. Cash holdings have risen materially, giving Snowflake a meaningful liquidity cushion. However, debt has also increased sharply recently and now sits above the company’s equity, which has declined; this signals a shift toward more leverage and a thinner equity buffer. Overall, the company still appears well‑resourced, but the capital structure is more complex and more sensitive to ongoing losses than it used to be.

Cash Flow

Cash Flow Snowflake’s cash flow picture is notably better than its income statement might suggest. The company has moved from consuming cash a few years ago to generating solid, consistently positive cash flow from operations and free cash flow more recently. Its spending on physical assets remains modest, so most cash generation comes from the core business rather than heavy investment in equipment. This means that, despite accounting losses, the business is now largely self‑funding and less reliant on outside capital, as long as current growth and customer usage trends hold up.

Competitive Edge

Competitive Edge Snowflake holds a strong competitive position in the data and analytics market, anchored by its cloud‑native architecture, ability to run across multiple public clouds, and flexible pricing. Its data marketplace and native application framework help create a sticky ecosystem where customers and partners share data and build solutions directly on the platform, increasing switching costs over time. These strengths are balanced by real competitive pressures from hyperscale cloud providers and other analytics and AI platforms, which can compete on price, integration, and breadth of services. The durability of Snowflake’s advantage will depend on how well it continues to differentiate performance, ease of use, and ecosystem depth versus these powerful rivals.

Innovation and R&D

Innovation and R&D Innovation is a clear focal point for Snowflake. It has extended far beyond traditional data warehousing into AI, machine learning, and application development, with offerings like Snowpark, Cortex, and its native application framework. The company is also pushing into new workloads, including transactional databases via its Crunchy Data acquisition, and investing heavily in tools that make developers more productive and its platform more interoperable across clouds. These efforts require substantial ongoing R&D spending, but they are central to expanding Snowflake’s addressable market and reinforcing its moat; the key uncertainty is how quickly these new capabilities translate into broad adoption and meaningful revenue.

Summary

Snowflake combines rapid growth, high underlying gross profitability, and strong technology with ongoing accounting losses and a more leveraged balance sheet. The business has successfully transitioned to generating positive free cash flow, which reduces funding risk and shows that customers are heavily using the platform. At the same time, rising debt and falling equity highlight the need for continued discipline as it invests for growth. Strategically, Snowflake is well placed in a critical part of the cloud and AI ecosystem, with a differentiated architecture and growing marketplace, but it operates in a fiercely competitive arena. The main things to monitor are its progress toward sustainable profitability, its ability to maintain product and performance leadership, and how effectively it monetizes its expanding AI and application capabilities.

NEWS

November 18, 2025 · 10:02 AM UTC

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November 18, 2025 · 9:00 AM UTC

Snowflake Supercharges Machine Learning for Enterprises with Native Integration of NVIDIA CUDA-X Libraries

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November 12, 2025 · 10:00 AM UTC

REdistribute Real Estate Data Now Available on Snowflake

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November 10, 2025 · 8:20 AM UTC

Enlight Announces $1.44 Billion Debt Financing for Flagship Snowflake A Project in Arizona

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November 4, 2025 · 10:00 AM UTC

SAP and Snowflake Unleash the Power of Data and Enterprise AI Across the Business Data Fabric

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