Snowflake Inc. reported financial results for its second quarter of fiscal 2027 ended July 31, 2026. Total revenue reached $1.55 billion, a 35% year-over-year increase, while product revenue grew 37% to $1.49 billion. The company achieved a net revenue retention rate of 126% and added 692 net new customers. Snowflake raised its full-year fiscal 2027 product revenue growth guidance to 36%, up from the previous estimate of 31%. Operating income was $237 million on a non-GAAP basis, reflecting an operating margin expansion. The company operates in the cloud data platform and artificial intelligence industry.

Snowflake Inc. granted a performance-based restricted stock unit (PSU) award to CEO Sridhar Ramaswamy on July 15, 2026, consisting of 1,000,000 shares of common stock. The award is structured in five tranches, with vesting requirements based on both service and escalating stock price milestones (ranging from $324 to $531) over a performance period of 2 to 7 years. Snowflake Inc. operates in the cloud data warehousing and AI-driven data management industry.

Snowflake Inc. held its 2026 Annual Meeting of Stockholders on June 29, 2026. Shareholders elected Teresa Briggs, Mark D. McLaughlin, and Sridhar Ramaswamy as Class III directors. In a notable outcome, stockholders did not approve the non-binding advisory proposal regarding executive compensation, with 124,481,663 votes against versus 96,340,999 for. Additionally, a non-binding stockholder proposal requesting a majority vote for director elections was approved. Shareholders also ratified PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2027. Snowflake Inc. is a cloud-based data warehousing and analytics company.