Snowflake Inc. reported its financial results for the first quarter of fiscal 2026, showcasing a strong performance with product revenue reaching $997 million, marking a 26% increase year-over-year. The company also highlighted remaining performance obligations totaling $6.7 billion. Snowflake's focus on enhancing its platform for ease of use and trusted enterprise-grade performance has contributed to its growth, gaining the trust of more than 11,000 customers. The product gross profit margin stood at 75%, while the operating income margin was reported at 8%. Additionally, Snowflake disclosed that its weighted-average shares used in computing net income per share attributable to its common stockholders-diluted amounted to 372 million for the period. The company emphasized its mission to empower enterprises through data and AI, seeing significant opportunity ahead as it extends its value throughout the data lifecycle.
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