Snowflake AI Adoption Drives Revenue Growth to 36% YoY

Snowflake Inc. (SNOW) reported robust revenue growth at the Piper Sandler Growth Frontiers Conference in September 2026, with full-year expectations rising to a 36% year-over-year increase—up from a prior 31% forecast. The cloud-based data platform’s core business and AI-driven products contributed equally to the outperformance, with AI adoption accounting for roughly half of the outperformance. Last twelve months revenue reached $5.43 billion, marking a 32% increase, while trailing twelve-month earnings per share remained negative at $3.17. The company expects to turn GAAP profitable by Q4 2027, six quarters from now, despite a year-to-date hiring surge of 330 employees—down from 940 in the prior year—including 170–180 from its recent Observe acquisition.