![]() ![]() Numbers are rounded for presentation purposes. See the section titled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures, and the table titled “GAAP to Non-GAAP Reconciliations” for a reconciliation of GAAP to non-GAAP financial measures. (1) We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Net cash provided by operating activities ![]() The following table summarizes our financial results for the first quarter of fiscal 2024: ![]() "Data has gravitational pull, and given the vast universe of data Snowflake manages, it is no surprise that interest in data science, AI and machine learning is escalating while its uses are rapidly evolving."įirst Quarter Fiscal 2024 GAAP and Non-GAAP Results: Non-GAAP adjusted free cash flow was $287 million for the quarter, up 58% year-over-year,” said Frank Slootman, Chairman and CEO, Snowflake. “During Q1, Snowflake’s product revenue grew 50%, totaling $590 million. See the section titled “Key Business Metrics” for definitions of product revenue, customers with trailing 12-month product revenue greater than $1 million, net revenue retention rate, Forbes Global 2000 customers, and remaining performance obligations. Remaining performance obligations were $3.4 billion, representing 31% year-over-year growth. Net revenue retention rate was 151% as of April 30, 2023. The company now has 373 customers with trailing 12-month product revenue greater than $1 million and 590 Forbes Global 2000 customers. Product revenue for the quarter was $590.1 million, representing 50% year-over-year growth. Revenue for the quarter was $623.6 million, representing 48% year-over-year growth. Snowflake Q1 FY24 Infographic (Graphic: Snowflake) ![]()
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