Snowflake Inc. (SNOW) Earnings Call Transcripts
Snowflake Inc.'s Latest Earnings Call - June 2, 2026
In the fiscal quarter ending May 31, 2026, Snowflake Inc. reported a revenue of $1.5 billion, representing a 36% year-over-year increase, which was above the consensus estimate of $1.4 billion. The company also announced that it expects to achieve GAAP profitability by the end of FY '28, a significant milestone that reflects its ongoing operational improvements and focus on AI-driven product enhancements. Management highlighted a strong growth trajectory, particularly in AI workloads, with migrations and use cases increasing by 1.9x and 1.7x, respectively, compared to the previous fiscal year.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $1.5B (beat) |
| GAAP Profitability Target | FY '28 (positive) |
| Migrations Growth | 1.9x (positive) |
| Use Cases Growth | 1.7x (positive) |
| Average Spending of Top 25 Customers | $34M (positive) |
| Sales Cycle Duration | 7 months (positive) |
Guidance from management
Management maintained a positive outlook, projecting continued growth in AI workloads and a path to GAAP profitability by FY '28, while emphasizing the importance of execution and product adoption.
What management said
Yes. I can take a first cut at this. I think the market in front of them in the enterprise, which is to roughly get every company to rethink how work should get done, starting with things like software engineering is very, very large. I suspect that, that is where the bulk of their attention will go. Running products like Snowflake is -- it's a whole new set of both practical and operational skills. Having said that,...
I don't think I have much to add other than a lot of what we talk about that acquiring data not so hard doing, so with correctness, with trust, with all of that. That's takes some more time. But I share the alertness that Sridhar has instilled in all of us, which is we just need to pay attention to what's out there, what's working, in many ways, I am seeing the dynamics with the AI model providers similar to what has...
What analysts pressed on
Analysts expressed concerns about the competitive landscape and the need for Snowflake to accelerate growth rates to keep pace with peers. There were also questions regarding the scalability of AI solutions and the effectiveness of new product adoption strategies.
Main topics on the call
- AI-Driven Product Enhancements — Management emphasized the transformative impact of AI on their product offerings, with Sridhar stating, "AI is going to make the value of and easy to use, connected and trusted data platform like Snowflake, even more tha...
- GAAP Profitability Guidance — Snowflake announced its goal to reach GAAP profitability by the end of FY '28, with Brian stating, "We feel confident enough to say that we'll be reaching GAAP profitability at the end of next year." This marks a signifi...
- Increased Customer Engagement — The company reported a notable increase in customer engagement, with the average spending of top 25 customers rising from $22 million to $34 million annually. This reflects a strong demand for Snowflake's offerings, part...
- Product Adoption and Use Cases — Management highlighted a significant increase in product adoption, with migrations growing 1.9x and use cases expanding 1.7x year-over-year. Sridhar noted, "The number of use cases won per AE... increased by 86% year-on-...
Read the full Snowflake Inc. transcript (June 2, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Snowflake Inc.
Snowflake Inc. (SNOW) is a publicly listed company in the IT Services industry, within the Information Technology sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 60 calls on record spanning December 2, 2020 to June 2, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 60 Snowflake Inc. earnings call transcripts on record, spanning December 2, 2020 to June 2, 2026. Based on this history, Snowflake Inc. reports quarterly. The most recent call on file is dated June 2, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- SNOW
- Exchange
- NYSE
- Country
- US
- Sector
- Information Technology
- Industry
- IT Services
- Calls on record
- 60
- First call
- December 2, 2020
- Most recent
- June 2, 2026
- Reporting cadence
- quarterly