Snowflake Inc. reported strong financial results for Q2 FY2025, with revenue increasing 29% year-over-year to $868.8 million, driven by product revenue growth of 30% to $829.3 million. The company's net revenue retention rate was 127%, though declining from 142% a year ago. Net loss widened to $317.8 million from $227.3 million in the prior year period, primarily due to increased investments in research and development, particularly in AI technology.The company continued to expand its enterprise customer base, reaching 510 customers with trailing 12-month product revenue greater than $1 million, up from 399 a year ago. These customers represented approximately 65% of product revenue. Snowflake also made significant progress in international markets, with 24% of revenue generated from customers outside the United States. The company maintained strong gross margins at 67%.Looking ahead...Show More

Snowflake Inc. reported strong financial results for Q2 FY2025, with revenue increasing 29% year-over-year to $868.8 million, driven by product revenue growth of 30% to $829.3 million. The company's net revenue retention rate was 127%, though declining from 142% a year ago. Net loss widened to $317.8 million from $227.3 million in the prior year period, primarily due to increased investments in research and development, particularly in AI technology.The company continued to expand its enterprise customer base, reaching 510 customers with trailing 12-month product revenue greater than $1 million, up from 399 a year ago. These customers represented approximately 65% of product revenue. Snowflake also made significant progress in international markets, with 24% of revenue generated from customers outside the United States. The company maintained strong gross margins at 67%.Looking ahead, Snowflake announced an expansion of its stock repurchase program with an additional $2.5 billion authorization and extended the program's expiration to March 2027. The company continues to invest heavily in AI capabilities, including the general availability of Iceberg tables in June 2024, enabling customers to use the platform for compute services without requiring storage. Free cash flow for the quarter was $58.8 million, demonstrating continued operational efficiency despite increased investments.