Summary by Moomoo AI
Snowflake reported strong Q2 fiscal 2025 results with product revenue reaching $829.3 million, up 30% YoY, while total revenue grew 29% to $868.8 million. The company maintained a robust net revenue retention rate of 127% and expanded its high-value customer base to 510 customers with trailing 12-month product revenue exceeding $1 million.The company's remaining performance obligations surged 48% YoY to $5.2 billion, demonstrating strong future revenue visibility. Operating margin improved to 5% on a non-GAAP basis, though GAAP operating loss was $355.3 million. The board authorized an additional $2.5 billion for stock repurchases through March 2027, extending the existing program.Looking ahead, Snowflake projects Q3 product revenue between $850-855 million, representing 22% YoY growth. For full fiscal 2025, the company raised guidance and expects product revenue of $3.356 billion with a 26% YoY growth rate.
