This brief reports what Snowflake's 10-K, filed 2026-03-20, states, and nothing else. Every item below is a sentence the filing contains, quoted exactly and verified character-for-character against the document fetched from EDGAR. No inference is drawn and no claim is made about what any figure means.
The figures
| Metric | Value | Period |
|---|---|---|
| Remaining performance obligations | $9.8 billion | January 31, 2026 |
| Weighted-average remaining life of our capacity contracts | 2.7 years | January 31, 2026 |
| Research and Development headcount | 2,424 | January 31, 2026 |
| Research and Development headcount | 2,257 | January 31, 2025 |
| General and Administrative headcount | 1,189 | January 31, 2026 |
| General and Administrative headcount | 1,183 | January 31, 2025 |
| Research and Development expenses | $17.0 million | fiscal year ended January 31, 2026 |
Every figure above is quoted from the filing; the sentence it was read from appears under its beat below.
The evidence, by beat
ARR / NRR / NDR growth or dilution
Historical numbers for (i) net revenue retention rate, (ii) customers with trailing 12-month product revenue greater than $1 million, and (iii) Forbes Global 2000 customers reflect any adjustments for acquisitions, consolidations, spin-offs, and other market activity.
Our net revenue retention rate is subject to adjustments for acquisitions, consolidations, spin-offs, and other market activity, and we present our net revenue retention rate for historical periods reflecting these adjustments.
As of January 31, 2026, our remaining performance obligations were approximately $9.8 billion, of which we expect approximately 46% to be recognized as revenue in the 12 months ending January 31, 2027 based on historical customer consumption patterns.
The weighted-average remaining life of our capacity contracts was 2.7 years as of January 31, 2026.
Product revenue excludes our professional services and other revenue, which has been less than 10% of revenue for each of the periods presented.
Scope: professional services and other revenue (less than 10% of revenue).
seat vs consumption / usage-based pricing mix shift
Product revenue excludes our professional services and other revenue, which has been less than 10% of revenue for each of the periods presented.
Our net revenue retention rate is subject to adjustments for acquisitions, consolidations, spin-offs, and other market activity, and we present our net revenue retention rate for historical periods reflecting these adjustments.
We expect our net revenue retention rate to decrease over the long-term as customers that have consumed our platform for an extended period of time become a larger portion of both our overall customer base and our product revenue that we use to calculate net revenue retention rate, and as their consumption growth primarily relates to existing use cases rather than new use cases.
We do not include customers that consume our platform only under on-demand arrangements for purposes of determining our customer count.
Our customer count is subject to adjustments for acquisitions, consolidations, spin-offs, and other market activity, and we present our customer count for historical periods reflecting these adjustments.
Our Forbes Global 2000 customer count is a subset of our customer count based on the 2025 Forbes Global 2000 list.
Our Forbes Global 2000 customer count is subject to adjustments for annual updates to the list by Forbes, as well as acquisitions, consolidations, spin-offs, and other market activity with respect to such customers, and we present our Forbes Global 2000 customer count for historical periods reflecting these adjustments.
We define free cash flow, a non-GAAP financial measure, as GAAP net cash provided by operating activities reduced by purchases of property and equipment and capitalized software development costs.
competitive displacement / win-loss / platform consolidation
We currently offer our platform on the public clouds provided by AWS, Azure, and GCP, which are also some of our primary competitors.
Currently, a substantial majority of our business is run on the AWS public cloud.
There is risk that one or more of these public cloud providers could use its respective control of its public clouds to embed innovations or privileged interoperating capabilities in competing products, bundle competing products, provide us unfavorable pricing, leverage its public cloud customer relationships to exclude us from opportunities, and treat us and our customers differently with respect to terms and conditions or regulatory requirements than it would treat its similarly situated customers.
Further, they have the resources to acquire, invest in, or partner with existing and emerging providers of competing technologies and thereby accelerate adoption of those competing technologies.
Companies with which we have strategic partnerships and alliances in some areas may be competitors in other areas, and this trend may increase, particularly as we expand our product offerings.
We also face competition from some of our customers and vendors.
In addition, enterprise adoption of AI may significantly transform our competitive landscape.
Frontier AI model providers may seek to vertically integrate their offerings by expanding into the data storage and management layers and developing their own database solutions.
In addition, companies may use AI to develop their own software, reducing their need to purchase third-party solutions.
We introduced data warehousing on our platform in 2014 as our core use case, and our customers subsequently began using our platform for additional product categories, including analytics, data engineering, AI, and applications and collaboration.
Our future success depends on our ability to continue to innovate rapidly and effectively and increase customer adoption of our platform and the AI Data Cloud, including emerging product areas such as AI, Apache Iceberg tables, and Snowpark.
AI product monetisation / attach
The filing names this beat, but no statement in it verified as a verbatim quote, so none is reported here.
guidance raised/cut, outlook change
The filing names this beat, but no statement in it verified as a verbatim quote, so none is reported here.
cost action / restructuring / headcount
Headcount (at period end)2,424 2,257
Headcount (at period end)2,424 2,257
Headcount (at period end)1,189 1,183
Headcount (at period end)1,189 1,183
The overall increase in research and development expenses for the fiscal year ended January 31, 2026 was partially offset by a decrease of $17.0 million in costs incurred by us in connection with a restructuring plan for a majority-owned subsidiary, net of associated income and recoveries.
Verification ledger
- 31 statements proposed by the extractor
- 29 verified verbatim against the fetched filing (94%)
- 2 discarded — not quotable character-for-character
The verbatim check contains no model: the extractor proposes a statement, and a deterministic substring match against the fetched text decides whether it is admissible. A proposal that does not verify is dropped.
This brief publishes no inference and no synthesis. The publication's inference layer must clear a measured second-lab confirmation threshold before it may appear; it has not, so it is absent by rule rather than by omission.