Snowflake (SNOW) financial statements
Snowflake reported revenue of $4.7B in fiscal 2026, up 74.1% a year over 7 years.
Net income was -$1.3B and the operating margin -30.6%, against -191.9% in 2019.
Free cash flow was $1.1B, and the company returned $874M in net buybacks.
The diluted share count rose 784% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Snowflake's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $97M | $265M | $592M | $1.2B | $2.1B | $2.8B | $3.6B | $4.7B |
| Cost of revenue | $52M | $117M | $243M | $458M | $718M | $899M | $1.2B | $1.5B |
| Gross profit | $45M | $148M | $349M | $761M | $1.3B | $1.9B | $2.4B | $3.1B |
| Research and development | $69M | $105M | $238M | $467M | $788M | $1.3B | $1.8B | $2.0B |
| Selling, general and admin | $162M | $401M | $655M | $1.0B | $1.4B | $1.7B | $2.1B | $2.6B |
| Operating income | -$185M | -$358M | -$544M | -$715M | -$842M | -$1.1B | -$1.5B | -$1.4B |
| Interest expense | — | — | — | — | $0 | $0 | $3M | $8M |
| Pre-tax income | -$177M | -$348M | -$537M | -$677M | -$816M | -$849M | -$1.3B | -$1.3B |
| Income tax | $820,000 | $993,000 | $2M | $3M | -$18M | -$11M | $4M | $17M |
| Net income | -$178M | -$349M | -$539M | -$680M | -$797M | -$836M | -$1.3B | -$1.3B |
| EPS (diluted) | -$4.67 | -$7.77 | -$3.81 | -$2.26 | -$2.50 | -$2.55 | -$3.86 | -$3.95 |
| Diluted shares | 38M | 45M | 142M | 300M | 319M | 328M | 333M | 337M |
| Gross margin | 46.5% | 56.0% | 59.0% | 62.4% | 65.3% | 68.0% | 66.5% | 67.2% |
| Operating margin | -191.9% | -135.3% | -91.9% | -58.6% | -40.8% | -39.0% | -40.2% | -30.6% |
| Net margin | -184.2% | -131.6% | -91.1% | -55.8% | -38.6% | -29.8% | -35.5% | -28.4% |
Balance sheet
Fiscal years, from Snowflake's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $117M | $434M | $3.9B | $3.9B | $4.0B | $3.8B | $4.6B | $4.0B |
| Receivables | — | $179M | $294M | $546M | $716M | $927M | $923M | $1.3B |
| Total current assets | — | $665M | $4.3B | $4.6B | $5.0B | $5.0B | $5.9B | $5.7B |
| Property, plant and equipment | — | $27M | $69M | $105M | $161M | $247M | $296M | $249M |
| Goodwill | $0 | $7M | $8M | $8M | $657M | $976M | $1.1B | $1.2B |
| Total assets | — | $1.0B | $5.9B | $6.6B | $7.7B | $8.2B | $9.0B | $9.1B |
| Total current liabilities | — | $416M | $789M | $1.4B | $2.0B | $2.7B | $3.3B | $4.4B |
| Total liabilities | — | $621M | $985M | $1.6B | $2.3B | $3.0B | $6.0B | $7.2B |
| Shareholders' equity | -$312M | -$545M | $4.9B | $5.0B | $5.5B | $5.2B | $3.0B | $1.9B |
| Net debt | -$117M | -$127M | -$820M | -$1.1B | -$940M | -$1.8B | -$2.6B | -$2.8B |
Cash flow
Fiscal years, from Snowflake's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$144M | -$177M | -$45M | $110M | $546M | $848M | $960M | $1.2B |
| Capital spending | $4M | $23M | $40M | $29M | $49M | $69M | $76M | $102M |
| Free cash flow | -$148M | -$199M | -$86M | $81M | $496M | $779M | $884M | $1.1B |
| Stock-based compensation | $22M | $78M | $301M | $605M | $862M | $1.2B | $1.5B | $1.6B |
| Share buybacks (net) | -$30M | $0 | $0 | $0 | $0 | -$592M | -$1.9B | -$874M |
| Free cash flow margin | -153.1% | -75.3% | -14.5% | 6.7% | 24.0% | 27.8% | 24.4% | 23.9% |
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Open SNOW in InvestinglyQuestions
What was Snowflake's revenue in 2026?
$4.7B in fiscal 2026, from its 10-K filing.
How much free cash flow does Snowflake generate?
$1.1B in fiscal 2026 (operating cash flow minus capital spending).
From Snowflake's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.