Snowflake Q1 revenue up 33.5% to $1.39B; faces three new securities suits and AI copyright claim

Filed May 29, 2026 · Period ending April 30, 2026 · Compared to 10-Q May 30, 2025 · ~1 min read

Key Changes

• high

  Legal Proceedings verify on EDGAR →
• high

  Product revenue grew 33.5% YoY to $1.39B; net revenue retention improved to 33.5%; Forbes Global 2000 customers increased to 813 (from 754), now representing 43% of revenue; RPO jumped 38% to $9.2B.

  MD&A: Financial Performance verify on EDGAR →
• high

  Acquired Observe for $596M (cash and stock) to add AI-powered observability; announced pending $110M Natoma Labs acquisition for enterprise AI agent platform; committed $6B over five years to cloud infrastructure (annual minimums $900M-$1.25B).

  MD&A: Strategic Transactions verify on EDGAR →