Snowflake Inc. Reports 124% Net Revenue Retention Rate

By Greg Peters • Sunday, June 01 16:19 • Permanent Link

Snowflake Inc. has recently released its 10-Q report, providing an insight into the company's financial performance and operations. Snowflake Inc. is a cloud-based data platform that offers the AI Data Cloud, allowing organizations to consolidate data, drive meaningful business insights, build data applications, and apply AI for solving business problems. The company serves various industries, including financial services, advertising, media and entertainment, retail and consumer goods, healthcare and life sciences, manufacturing, technology, telecom, travel and hospitality, and government and defense.

In ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, Snowflake Inc. reported a net revenue retention rate of 124% and 126% as of April 30, 2025, and January 31, 2025, respectively. As of April 30, 2025, the company had 11,578 total customers, increasing from 11,127 customers as of January 31, 2025. Snowflake Inc. generates the substantial majority of its revenue from fees charged to customers based on the compute, storage, and data transfer resources consumed on its platform. The company primarily focuses its selling efforts on large organizations and sells its platform through a direct sales force, targeting technical and business leaders adopting a cloud strategy.

Snowflake Inc. highlighted that its future success depends on the market adoption of its platform, including new product functionality, such as Snowpark and its artificial intelligence and machine learning technology. The company is also focused on expanding within its existing customer base and acquiring new customers to further grow its customer base. Additionally, Snowflake Inc. emphasized its focus on investing in research and development to improve its platform, including in the areas of data science and AI Technology, and expanding its business both domestically and internationally. Following these announcements, the company's shares moved 1.66%, and are now trading at a price of $205.67. For more information, read the company's full 10-Q submission here.

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