Strong Revenue Growth: Snowflake reported product revenue of $1.09 billion for Q2 FY2026, reflecting a 32% year-over-year growth and an acceleration from the previous quarter. The company increased its full-year product revenue guidance to $4.395 billion, representing a projected 27% year-over-year growth.

Healthy Customer Metrics: The number of net new customers added increased by 21% year-over-year, with 15 Global 2,000 companies among the new customers. The net revenue retention rate remained robust at 125%, indicating strong customer loyalty and expansion within existing accounts.

Innovation and Product Development: The company launched approximately 250 new capabilities during the first half of the year, enhancing its product offerings, especially in the AI domain. New features such as Snowflake Intelligence and integration with popular models like GPT-5 are expected to drive increased adoption and utilization of the platform.