Snowflake Announces Record Financial Results in Fiscal 2022

Key Highlights

Snowflake, the Data Cloud company, announced its financial results for the fourth quarter and full year of fiscal 2022:

• Revenue for the quarter: $1.905 billion, up 117%
• Product revenue for the quarter: $5.901 billion, up 50% year-over-year
• Customers with trailing 12-month product revenue greater than $1 million: 485
• Forbes Global 2000 customers: 709

Strong Growth Across All Metrics

Snowflake's financial performance in fiscal 2022 was driven by strong growth across all metrics, including revenue, product revenue, and customer acquisition.

Revenue for the year was $6.913 billion, up 101% year-over-year. Product revenue for the year was $6.363 billion, up 50% year-over-year.

Customer Growth

As of January 31, 2022, Snowflake had 6,347 total customers, an increase of 1,600 customers compared to January 31, 2021.

The company also saw significant growth in its large customer base.

International Expansion

Snowflake continued to expand its international presence in fiscal 2022, with revenue from outside the United States growing 147% year-over-year.

The company now has operations in 17 countries and plans to continue its global expansion in the future.

Outlook

Snowflake is optimistic about its future growth prospects and expects to continue to invest in its product and sales capabilities.

The company has a significant opportunity to continue to grow its market share in the cloud data warehouse market.