Snowflake CEO Sridhar Ramaswamy reports 34% product revenue growth to $1.33 billion, sparking a 30% stock spike
Over 13,600 accounts have adopted the company's AI offerings.
Strong Q1 for @Snowflake. ❄️ $1.33B product revenue, up 34% YoY. Accelerating from 30% last quarter and 26% a year ago.
AI is strengthening Snowflake on multiple levels: → core platform growth accelerating as customers get their data AI-ready → AI products Snowflake Intelligence and CoCo seeing rapid adoption → use of AI products increasing overall platform consumption
This is the flywheel of the Agentic Enterprise.
616 net new customers (+38% YoY) Operating margin up over 300bps to 12%
sridhar@RamaswmySridharStrong Q1 for @Snowflake. ❄️ $1.33B product revenue, up 34% YoY. Accelerating from 30% last quarter and 26% a year ago. AI is strengthening Snowflake on multiple levels: → core platform growth accelerating as customers get their data AI-ready → AI products Snowflake Intelligence and CoCo seeing rapid adoption → use of AI products increasing overall platform consumption This is the flywheel of the Agentic Enterprise.
⚡CoCo in use with 7,100+ accounts. 💡Accounts using Snowflake Intelligence more than doubled QoQ.
These are the first product surfaces of the agentic control plane, enabling organizations to securely coordinate agent behavior across their entire business.
sridhar@RamaswmySridhar616 net new customers (+38% YoY) Operating margin up over 300bps to 12%