Short answer
Snowflake Inc (SNOW) filed its fiscal 2026 10-K annual report with the SEC on Mar 20, 2026. It reported revenue of $4.7B (+29.2% year over year) and net income of −$1.3B.
- Top risk flagged: SEC cybersecurity disclosure rules: material incidents require Form 8-K reporting, creating investigation and litigation exposure
FY2026 key financial metrics · XBRL
- Revenue
- $4.7B
- +29.2% YoY
- Net income
- −$1.3B
- −3.6% YoY
- Operating margin
- -30.6%
- +9.5 pp YoY
- Gross margin
- 67.2%
- +0.7 pp YoY
- EPS (diluted)
- −$3.95
- −2.3% YoY
- ROE
- -69.2%
- −26.4 pp YoY
- Operating cash flow
- $1.2B
- +27.3% YoY
Source: XBRL data from the Snowflake Inc (SNOW) FY2026 10-K on SEC EDGAR. USD.
Snowflake Inc FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- AI Data Cloud platform, unifying governed data, analytics, AI, applications, and collaboration through consumption-based pricing
- New Transactions category, highlighted by Snowflake Postgres for unified transactional and analytical workloads
- AI emphasis deepened through generally available Cortex Agents, Snowflake Intelligence, Interactive Warehouses, and Snowpark Connect for Apache Spark
- 13,328 customers, up from 10,996, with 733 customers exceeding $1 million in trailing 12-month product revenue
- Global footprint: three major public clouds across 53 regional deployments, supporting a connected multi-cloud network
Management Discussion & Analysis
- Product revenue $4.47B vs $3.46B, up $1.01B YoY
- Operating cash flow $1.22B vs $959.8M, free cash flow $1.12B vs $884.1M
- Capital allocation: $101.6M property and equipment purchases, $1.39B financing cash outflows
- Customer expansion: 733 customers above $1M trailing revenue vs 576, net retention 125% vs 126%
- Key risks: macroeconomic budget optimization, slower consumption, AI adoption and regulatory requirements
Risk Factors
- SEC cybersecurity disclosure rules: material incidents require Form 8-K reporting, creating investigation and litigation exposure
- AWS concentration: substantial majority of business runs on AWS, also a direct competitor with pricing and bundling leverage
- Consumption-based revenue: customer optimization, shorter retention policies, and shorter commitments reduce forecasting visibility
- AI disruption: frontier AI providers may vertically integrate into data storage and management, reducing demand for Snowflake
- Persistent losses: $1.3 billion net loss and $9.5 billion accumulated deficit for fiscal 2026
Generated from the filing text; verify against the original. How to read a 10-K
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