Snowflake reports Q1 FY2027 revenue of $1.39B, up 33% YoY with 126% NRR

Snowflake delivered record quarterly results with product revenue of $1.33 billion growing 34% year-over-year, driven by strong AI adoption across 13,600+ accounts using Cortex AI capabilities. The company raised full-year guidance citing momentum in its core platform and first-party AI products, with 779 customers now spending over $1 million annually.