Snowflake Inc (SNOW) FY2026 10-K Annual Report
Snowflake Inc (SNOW) 10-K annual report for fiscal year 2026, filed with SEC EDGAR on Mar 5, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Snowflake Inc FY2026 10-K Analysis
Business Overview
- • AI-native cloud cybersecurity platform (Falcon) delivered via SaaS, 33 modules across endpoint, identity, cloud, SIEM, and AI security
- • New "AI Detection and Response" (AIDR) module for securing generative AI apps/agents; Charlotte AI expanded to agentic autonomous security decisions
- • Introduced "AI Security Cloud" as a defined new category; repositioned Falcon as the "operating system for cybersecurity" consolidating entire security stack
- • International revenue grew from $1,270.7M to $1,595.4M (+26% YoY); 25 of 50 U.S. states standardized on CrowdStrike at enterprise level; 88,000+ customers; 10,698 employees; $4.2B backlog; 115% dollar-based net retention rate
- • 82% of 2025 detections were malware-free per CrowdStrike's own 2026 Global Threat Report — underscoring the obsolescence of traditional malware-centric defenses and validating their identity/behavioral approach
Management Discussion & Analysis
- • Total revenue $4.81B, up $858M (+22%) YoY; subscription $4.56B (+21%), professional services $247M (+29%)
- • Operating margin -6% vs -3% YoY; gross margin flat; net loss widened to $162.5M from $15.2M loss
- • Operating cash flow $1.61B vs $1.38B; capex $302M; no dividends or buybacks disclosed; $382M on acquisitions
- • ARR $5.25B, up 24% YoY; $5.2B cash on hand; $750M Senior Notes due fiscal 2030
- • July 19 Incident driving elongated sales cycles, customer discounting, and $82.4M incremental G&A costs; two post-period acquisitions (SGNL.AI $628M, Seraphic $327M) signal continued M&A pace
Risk Factors
- • July 19 Incident triggered securities class actions, derivative suits, and governmental inquiries; insurance expected to fall short of total costs
- • GDPR/EU AI Act exposure: fines up to EUR 20M or 4% of global revenue; UK Data Use and Access Act 2025 creating divergent compliance regime
- • Heavy reliance on AWS as primary cloud infrastructure; contract termination would cause platform interruptions with no guaranteed alternative timeline
- • Competitors exploiting July 19 Incident to poach customers; rivals may integrate AI into security products faster than CrowdStrike
- • $750M senior notes outstanding with restrictive covenants; net loss of $162.5M in fiscal 2026 and accumulated deficit of $1.3B
Snowflake Inc FY2026 Key Financial MetricsXBRL
Revenue
$4.8B
▲ +21.7% YoY
Net Income
-$163M
▼ -743.2% YoY
Gross Margin
74.7%
▼ -25bp YoY
Operating Margin
-6.1%
▼ -305bp YoY
Net Margin
-3.4%
▼ -289bp YoY
ROE
-3.7%
▼ -308bp YoY
Total Assets
$11.1B
▲ +27.4% YoY
EPS (Diluted)
$-0.65
▼ -712.5% YoY
Operating Cash Flow
$1.6B
▲ +16.7% YoY
Source: XBRL data from Snowflake Inc FY2026 10-K filing on SEC EDGAR. All figures in USD.
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