Snowflake Releases Strong Q4 and Full-Year Financial Results
Fourth Quarter Revenue Up 117%
SNOW announced its financial results for the fourth quarter and full year of fiscal 2022. The company reported strong growth, with fourth-quarter revenue increasing 117% year-over-year to $1.905 billion.
Product Revenue Grows 50%
Product revenue for the quarter was $1.5901 billion, representing 50% growth year-over-year. This growth was driven by strong demand for the company's cloud-based data warehousing solution.
Customer Base Expands Significantly
Snowflake continues to expand its customer base, with 373 customers now generating over $1 million in trailing 12-month product revenue. The company also has 709 Forbes Global 2000 customers.
Key Financial Highlights
| Financial Metric | Q4 2022 | Q4 2021 | YoY Growth |
|---|---|---|---|
| Revenue | $1.905 billion | $880 million | 117% |
| Product Revenue | $1.5901 billion | $1.059 billion | 50% |
| Customers with >$1M TTM Product Revenue | 373 | 224 | 66% |
| Forbes Global 2000 Customers | 709 | 452 | 57% |
Comments