Snowflake Inc (SNOW), the cloud computing-based data warehousing company, released its third-quarter earnings for the fiscal year 2022. The company reported $334.44 million and 110% YOY growth of product revenue.
Earnings Highlights
- 110% year-over-year product revenue growth
- Significant expansion with existing customers; 173% net revenue retention
- Strong large customer momentum; $1million+ Product revenue customers
- Improving product margin; 74.6% Non-GAAP product gross margin.
FY22 Guidance
- 104% YOY revenue growth
- 74% Non-GAAP product gross profit
- 4% Non-GAAP operating loss
- 8% Non-GAAP adjusted free cash flow
Analysts Estimates
The analysts had estimated the earnings to remain at -$0.06 while the revenue was expected to be $305.57 million.
Earnings History
Snowflake Inc.’s (SNOW) earnings had broken the estimates in the last few quarters. In the previous quarter, that is, FY 2022 Q2, the EPS was estimated to be -$0.15, but it came at -$0.04, while in the same quarter of 2021, the EPS was estimated at -$0.26, but it was reported to be -$0.28.
Earnings Forecast
The analysts have estimated the company’s earnings to remain at -$0.06 per share in the next quarter, while the revenue is expected to be $339.41 million.
