Snowflake (SNOW) Q2 FY2027 Earnings Call: Guidance and Outlook
Formal guidance covers the third quarter and full year of fiscal 2027, with management raising its annual product revenue and operating margin outlooks based on observed consumption strength.
About Snowflake. Snowflake Inc. delivers a cloud-centric data platform to customers across both the United States and international markets. The company's core offering, known as the Data Cloud, enables users to unify disparate data sources into a singular, reliable foundation.
Demand remains strong across all geographic regions, driven by both core data platform usage and a meaningful step-up in AI revenue.
Customer expansion
Net revenue retention rate remained healthy at 126%, supported by increased migrations and AI use case adoption.
Bookings seasonality
Bookings are expected to be increasingly weighted toward the fourth quarter due to customer renewal timing.
Headcount discipline
Operating margin expansion is supported by disciplined headcount management, with 334 employees added year-to-date including 173 from the Observe acquisition.
Dombey's summary of the Snowflake Q2 FY2027 earnings call held Sep 2, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.
