Snowflake FY2027 Q2 Earnings: $1.49B Product Revenue and the Acceleration Test
Snowflake's FY2027 Q2 product revenue hit $1.49 billion, up 37% year over year against a guide implying 30%, and management raised full-year product-revenue guidance to $6.07 billion (36% growth). GAAP operating margin improved to −17% from −30%, with the gap to a 15.3% non-GAAP margin almost entirely stock-based compensation.