Snowflake's fourth quarter revenue beat estimates, as remaining performance obligations surged 42% to $9.77 billion.

Snowflake reported fourth quarter revenue of $1.28 billion, a 30% year-over-year increase, with product revenue also growing 30% to $1.23 billion. For the full fiscal year 2026, product revenue grew 29% to $4.47 billion.

Key Highlights

• Remaining performance obligations (RPO) grew to $9.77 billion, up 42% year-over-year, indicating strong future revenue visibility from long-term contracts.
• The company reported a net revenue retention rate of 125% and added a record 740 net new customers during the quarter.
• For its initial fiscal year 2027 outlook, Snowflake guided for product revenue growth of 27%, which is ahead of prior analyst expectations of 24-25%.