Snowflake provides a cloud-based data platform called the Snowflake Data Cloud that lets customers store, process, and analyze large amounts of data. It operates on a pay-per-use model, charging for data stored and for computing power used. The platform is designed to be easy to use and handles many data types, supporting use cases from data warehousing and data lakes to data engineering, data science, and data applications. Snowflake differentiates itself with a cloud-native architecture that separates storage and compute, enabling on-demand scaling for diverse workloads across organizations, from startups to large enterprises. The company’s goal is to offer a scalable, flexible, and accessible data platform that unifies storage, processing, and analytics in one service.
Company Size
10,001+
Company Stage
IPO
Headquarters
Menlo Park, California
Founded
2012
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Transcend has launched its Consent & Preferences Management solution as a Snowflake Native App on Snowflake Marketplace. The app brings Transcend's consent and preference data directly into customers' Snowflake accounts, automatically converting it into enforceable policy. The integration addresses a common challenge: determining whether customer data can be legally used for specific purposes. The app applies governance controls within Snowflake without requiring custom pipelines or SQL knowledge, enabling teams across marketing, privacy, and data to access one unified answer. The native app transforms consent data into row access policies and safe views, enforced at query time. Data stewards gain real-time visibility into which datasets are governed, with one-click remediation for gaps. TextNow is already using the solution, with Head of Platform and Security Engineering Andrew Cotton noting it reduces implementation time from weeks to hours.
Snowflake's stock has surged approximately 50% since late December 2024, outpacing the S&P 500's 13% gain. The data platform company reported its third consecutive quarter of accelerating product revenue growth, reaching 37% year-over-year in fiscal Q2 2027. Management attributes this growth to customers running AI workloads on Snowflake's platform, particularly through its CoWork conversational interface, which now serves over 9,100 accounts. However, Snowflake cut its fiscal 2027 non-GAAP product gross margin outlook to 74%, citing lower contribution margins from AI workloads. To offset these increased cloud costs, the company raised its operating margin guidance to 14.5% by slowing headcount expenses. With a market value of $117.6 billion against $5.43 billion in trailing twelve-month revenue, Snowflake trades at roughly 22 times sales. Management targets reaching reported profitability in fiscal Q4 2028.
Snowflake Ventures and AT&T Ventures have invested $22.5M in RelationalAI to accelerate the next stage of enterprise Decision Intelligence. The funding supports deeper integration with Snowflake Intelligence and expands delivery to joint customers like AT&T, advancing trusted, explainable AI that runs directly inside the Snowflake AI Data Cloud.
Snowflake's AI-powered data cloud platform is outperforming Palantir this year, with shares up 53% compared to Palantir's 4% decline. The company added 692 net new customers in Q2 of fiscal 2027, a 32% year-over-year increase, bringing its total to over 14,500 customers. Snowflake's AI tools, including the CoWork personal agent and CoCo AI coding assistant, are driving growth. Over 5,800 customer accounts use CoWork, whilst more than 9,100 use CoCo. The company reported 35% revenue growth to $1.55 billion last quarter. Earnings per share jumped 77% year over year to $0.62, beating the consensus estimate of $0.45. A McKinsey survey found that 80% of AI users report higher productivity, helping explain strong demand for AI software solutions.
Snowflake reported its fiscal 2027 second-quarter results on Wednesday, with shares jumping more than 20% in extended trading. The data cloud specialist posted a third consecutive quarter of accelerating growth, reaching $1.49 billion in product revenue, up 37% year over year. Management raised its full-year product revenue guidance to $6.07 billion, representing 36% year-over-year growth. This marks the second guidance increase this year, up from an initial forecast of 27% growth. The company also lifted its full-year adjusted operating margin outlook to 14.5% from 13.5%. Net revenue retention rate held steady at 126% for the second consecutive quarter. Chief financial officer Brian Robins attributed the acceleration to strength in the core data platform and meaningful growth in artificial intelligence revenue. Remaining performance obligations reached $9.00 billion, up 30% year over year.