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Snowflake, the AI Data Cloud company, announced its financial results for the second quarter of fiscal year 2026, ending July 31, 2025, on August 28, 2025. The company delivered robust performance, with significant growth in product revenue and remaining performance obligations, reinforcing its leadership in the data and AI market.
Product Revenue: $1.09 billion, up 32% year-over-year.
Total Revenue: $1.1 billion, reflecting 32% year-over-year growth.
Net Revenue Retention Rate: 125%, showcasing strong customer retention.
Large Customers: 654 with trailing 12-month product revenue over $1 million, up 30% year-over-year.
Forbes Global 2000 Customers: 751, up 5% year-over-year.
Remaining Performance Obligations (RPO): $6.9 billion, up 33% year-over-year.
Snowflake reported total revenue of $1.1 billion for Q2 FY26, a 32% increase from the previous year. Product revenue, a key indicator of platform adoption, reached $1.09 billion, also up 32% year-over-year. This growth reflects strong demand for Snowflake’s AI Data Cloud, which enables enterprises to manage and analyze data at scale across various industries.
The company’s net revenue retention rate stood at an impressive 125%, indicating that existing customers are increasing their spending on Snowflake’s platform. As of July 31, 2025, Snowflake had 654 customers with trailing 12-month product revenue exceeding $1 million, a 30% year-over-year increase. Additionally, the company served 751 Forbes Global 2000 customers, up 5% year-over-year, underscoring its penetration among enterprise clients.
Remaining performance obligations (RPO) reached $6.9 billion, a 33% increase from Q2 FY25, signaling robust future revenue commitments. This growth highlights Snowflake’s ability to secure long-term contracts and expand its footprint within customer organizations, driven by its scalable and trusted AI Data Cloud platform.
“Snowflake delivered yet another strong quarter, with product revenue of $1.09 billion, up a strong 32% year-over-year, and remaining performance obligations totaling $6.9 billion,” said Sridhar Ramaswamy, CEO of Snowflake. “Thousands of customers are betting their business on Snowflake and more than 6,100 accounts are using Snowflake’s AI every week. Customers love that our platform is easy to use, connected to enable fluid access to data wherever it sits, and trusted by companies of all sizes and industries.”
Snowflake’s AI Data Cloud is designed to simplify data management and enable AI-driven insights, with over 6,100 accounts leveraging its AI capabilities weekly. The platform’s ease of use, connectivity, and trustworthiness make it a preferred choice for enterprises aiming to harness data and AI for competitive advantage.
Snowflake’s Q2 FY26 performance reflects its strong position in the rapidly growing data and AI market. The company’s ability to drive consistent revenue growth, expand its customer base, and secure significant RPO underscores its role as a critical enabler of enterprise digital transformation. With a focus on AI innovation and seamless data access, Snowflake is well-positioned to empower organizations to achieve their full potential.
Snowflake’s Q2 FY26 results highlight its continued momentum in delivering scalable, AI-driven data solutions. As enterprises increasingly rely on data and AI to drive business outcomes, Snowflake’s platform remains a trusted foundation for innovation and growth across industries.
Snowflake is the platform for the AI era, making it easy for enterprises to innovate faster and get more value from data. More than 12,000 customers around the globe, including hundreds of the world’s largest companies, use Snowflake’s AI Data Cloud to build, use and share data, applications and AI. With Snowflake, data and AI are transformative for everyone.
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