Investors and participants may attend the call by dialing (833) 470-1428 (Access code: 973189), or if outside the United States, by dialing +1 (929) 526-1599 (Access code: 973189). We will host a conference call today, beginning at 3 p.m. Our fiscal year ends January 31, and numbers are rounded for presentation purposes. We have provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables for our historical non-GAAP financial results included in this release. Stock-based compensation-related charges, including employer payroll tax-related items on employee stock transactions, are impacted by the timing of employee stock transactions, the future fair market value of our common stock, and our future hiring and retention needs, all of which are difficult to predict and subject to constant change. common stockholders - diluted due to the uncertainty regarding, and the potential variability of, the timing and amount of repurchases.Ī reconciliation of non-GAAP guidance measures to corresponding GAAP guidance measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future. The potential impact of future repurchases under our existing stock repurchase program is not reflected in our guidance for weighted-average shares used in computing net income per share attributable to Snowflake Inc. The full-year fiscal 2024 product revenue guidance is based on the higher end of the fourth quarter fiscal 2024 guidance. See the section titled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures. We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The following table summarizes our financial results for the third quarter of fiscal 2024: Third Quarter Fiscal 2024 GAAP and Non-GAAP Results: These results reflect strong execution in a broadly stabilizing macro environment," said Frank Slootman, Chairman and CEO, Snowflake. “During Q3, product revenue grew 34% year-over-year to reach $698 million and non-GAAP adjusted free cash flow was $111 million, representing 70% year-over-year growth. See the section titled “Key Business Metrics” for definitions of product revenue, customers with trailing 12-month product revenue greater than $1 million, net revenue retention rate, Forbes Global 2000 customers, and remaining performance obligations. Net cash provided by operating activities was $120.9 million, representing 53% year-over-year growth. Remaining performance obligations were $3.7 billion, representing 23% year-over-year growth. Net revenue retention rate was 135% as of October 31, 2023. The company now has 436 customers with trailing 12-month product revenue greater than $1 million and 647 Forbes Global 2000 customers, representing 52% and 10% year-over-year growth, respectively. Product revenue for the quarter was $698.5 million, representing 34% year-over-year growth. Revenue for the quarter was $734.2 million, representing 32% year-over-year growth. No-Headquarters/BOZEMAN, Mont.-( BUSINESS WIRE)-Snowflake (NYSE: SNOW), the Data Cloud company, today announced financial results for its third quarter of fiscal 2024, ended October 31, 2023.
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