Snowflake (SNOW) Misses Q2 EPS by 49c, Revenue Beats, Offers Outlook
Snowflake (NYSE: SNOW) reported Q2 EPS of ($0.64), $0.49 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $272.2 million versus the consensus estimate of $256.54 million.
Financial Outlook:
Our guidance includes GAAP and non-GAAP financial measures.
The following table summarizes our guidance for the third quarter of fiscal 2022:
| Third Quarter Fiscal 2022 GAAP Guidance | Third Quarter Fiscal 2022 Non-GAAP Guidance(1) | |||
| Amount (millions) | Year/Year Growth |
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Product revenue | $280 - $285 | 89 - 92% |
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Operating loss |
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| (7%) | |
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Weighted-average shares used in computing diluted net loss per share attributable to common stockholders - basic and diluted | 303 |
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(1) 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. See the section titled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures. | |||||
The following table summarizes our guidance for the full-year fiscal 2022:
| Full-Year Fiscal 2022 GAAP Guidance | Full-Year Fiscal 2022 Non-GAAP Guidance(1) | |||
| Amount (millions) | Year/Year Growth |
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Product revenue | $1,060 - $1,070 | 91 - 93% |
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| Margin | |
Product gross profit |
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| 73% | |
Operating loss |
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| (9%) | |
Adjusted free cash flow |
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| 7% | |
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| Amount (millions) |
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Weighted-average shares used in computing diluted net loss per share attributable to common stockholders - basic and diluted | 300 |
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(1) 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. See the section titled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures. | |||||
For earnings history and earnings-related data on Snowflake (SNOW) click here.