| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'27 | September 2, 2026 | 3/12 | 1 high, 3 medium, 2 low flags | 2 | 0 | Call sheet → |
| Q1'27 | May 27, 2026 | 8/12 | 1 high, 4 medium, 3 low flags | 4 | 0 | Call sheet → |
| Q4'26 | February 25, 2026 | 9/12 | 4 medium, 4 low flags | 5 | 0 | Call sheet → |
| Q3'26 | December 3, 2025 | 9/12 | 1 high, 4 medium, 1 low flags | 5 | 0 | Call sheet → |
| Q1'26 | 2025-05-21 | 9/12 | 3 medium, 3 low flags | 4 | 0 | Call sheet → |
| Q4'25 | February 26, 2025 | 11/12 | 2 medium, 5 low flags | 5 | 0 | Call sheet → |
| Q3'25 | November 20, 2024 | 7/12 | 3 medium, 4 low flags | 4 | 1 | Call sheet → |
| Q2'25 | 2024-08-21 | 9/12 | 2 medium, 4 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'27 | Exceeded | Add 600+ net new customers in Q1 2027 Q2 added 692 net new customers, surpassing prior target |
| Q2'27 | Delivered | Launch Cortex Code GA in February 2027 Management repeatedly highlighted GA status and adoption metrics in Q2 |
| Q1'27 | Pending | Drive both growth and margin expansion in FY27 Q1 shows strong start but full year execution remains |
| Q1'27 | Pending | Observe to contribute ~1% to FY27 growth On track but only one quarter in, less than 1% in Q1 |
| Q1'27 | Exceeded | Continue expanding operating margins 12% actual vs 9% guide, 300 bps beat |
| Q1'27 | Delivered | Maintain 75% gross margins despite AI investments Held at 75% but only through AWS contract offsets, not efficiency |
| Q1'27 | Exceeded | Snowflake Intelligence to scale rapidly after launch Doubled to 5,000+ accounts in one quarter, faster than expected |
| Q1'27 | Delivered | Deliver more than 430 product capabilities in FY26 Actually delivered 430+ capabilities, 20% more than prior year |
| Q4'26 | Delivered | Q3: Broader adoption of Snowflake Intelligence as next milestone Snowflake Intelligence doubled from 1,200 to 2,500 accounts in one quarter |
| Q4'26 | Pending | Q3: Making all data in Snowflake AI consumable Cortex Code expanding scope but still early on universal AI-ready data |
| Q4'26 | Delivered | Q3: $100M AI revenue run rate achieved one quarter early Confirmed $100M AI ARR reached, driven by Cortex suite adoption |
| Q4'26 | Delivered | Q3: Continued focus on operational rigor and margin expansion Operating margin reached 10.5% FY26, SBC declined to 34% of revenue |
| Q4'26 | Exceeded | Q3: Strong bookings quarter with accelerating RPO growth RPO accelerated from 37% to 42% YoY, largest deal >$400M, 7 nine-figure deals vs 2 prior year |
| Q4'26 | Delivered | Q3: AI is a key driver of strength in our core business AI accounts grew from 7,300 to 9,100, Snowflake Intelligence doubled to 2,500 accounts |
| Q3'26 | Exceeded | AI revenue milestone achievement Hit $100M AI ARR one quarter earlier than anticipated |
| Q3'26 | Delivered | Continue to deliver strong revenue growth and healthy results 29% product revenue growth with margin expansion maintained |
| Q3'26 | Pending | Non-GAAP adjusted free cash flow margin of 25% Reiterated target but didn't provide Q3 actual FCF numbers |
| Q3'26 | Delivered | Non-GAAP operating margin of 9% for FY26 Reiterated 9% target despite Q4 guide-down to 7% |
| Q3'26 | Delivered | Non-GAAP product gross margin of 75% for FY26 Reiterated 75% target, Q3 came in at 75.9% |
| Q3'26 | Exceeded | FY26 product revenue of $4.395B representing 27% growth Raised to $4.446B, maintaining 27% growth rate despite $51M increase |
| Q1'26 | Delivered | AI and ML technology scaling at lightning speed 5,200 weekly active accounts vs 4,000 last quarter, 30% quarterly growth |
| Q1'26 | Delivered | Strong revenue growth combined with margin expansion 26% revenue growth with 9% operating margin beats both metrics |
| Q1'26 | Delivered | Continued discipline in operational rigor and efficiency Operating margin up 442 bps YoY, headcount growth focused on revenue-generating roles |
| Q1'26 | Delivered | Product gross margin of approximately 75% Q1 came in at 75.7%, slightly ahead of target |
| Q1'26 | Pending | Non-GAAP operating margin expansion to 8% for FY26 Maintained target, Q1 delivered 9% showing early progress |
| Q1'26 | Pending | New product features to contribute to step-up in year-over-year growth rates in second half of FY26 Reaffirmed but with softer language - 'meaningfully contribute' vs 'step-up' |
| Q4'25 | Exceeded | Margins will expand through operational rigor Beat Q4 operating margin by 300bps and full year by 100bps |
| Q4'25 | Pending | Strong Q4 bookings quarter expected RPO growth decelerated to 33% from 55% - mixed signal on bookings strength |
| Q4'25 | Delivered | We will not be breaking out performance improvement assumptions going forward Stopped disclosing Iceberg-specific headwinds as promised |
| Q4'25 | Exceeded | New products beginning to contribute to growth Data engineering alone now $200M+ run rate, AI adoption accelerating |
| Q4'25 | Delivered | Data engineering features will more than offset storage revenue headwinds Storage stable at 11% of revenue while data engineering hit $200M+ run rate |
| Q4'25 | Delivered | Snowpark on track to be roughly 3% of revenue Hit exactly 3% of FY25 product revenue as promised |
| Q3'25 | Exceeded | 3% non-GAAP operating margin for FY25 Raised to 5% full year, delivered 6% in Q3 |
| Q3'25 | Delivered | 75% non-GAAP product gross margin for FY25 Raised guidance to 76%, margins stabilized after GPU cost pressures |
| Q3'25 | Pending | AI products to begin material revenue contribution in FY26 Walked back to 'early innings' despite 1,000+ production deployments |
| Q3'25 | Exceeded | New customer acquisition to impact FY26 Now expecting Q4 impact and 'fruits of labor' flowing into 2026 |
| Q3'25 | Delivered | Snowpark to represent ~3% of revenue in FY25 Reconfirmed on track, part of broader $200M+ data engineering run rate |
| Q3'25 | Missed | Storage revenue headwinds expected in H2 2025 due to Iceberg Storage remained 11% of revenue, management now claims net positive from new workloads |
| Q2'25 | Exceeded | New customer acquisition and consumption quotas for Q1 Mike confirmed they exceeded both quotas in Q1 under new sales comp plan |
| Q2'25 | Delivered | GPU-related costs in both COGS and R&D Gross margin down 90bps, some GPU deployments delayed but costs incurred |
| Q2'25 | Delivered | Revenue headwinds from performance improvements factored into guidance Guidance includes these headwinds, roughly 625bps of potential impact |
| Q2'25 | Delivered | Iceberg generally available later this year Went GA in Q2 with 400+ customers using it |
| Q2'25 | Delivered | Cortex AI generally available Launched in Q2 with over 750 customers using capabilities |
| Q2'25 | Pending | FY25 guidance includes contributions from Snowpark (about 3% of revenue or $100 million) Reaffirmed as tracking nicely to $100M target, but no Q2 specific numbers provided |
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