Snowflake Inc. reported its first fiscal quarter revenue of $1.04 billion, marking a 26% increase year-over-year, surpassing analyst expectations of $1.01 billion. The company's adjusted earnings per share reached $0.24, exceeding the consensus estimate of $0.21. Snowflake's product revenue for the quarter was $996.8 million, also up 26% from the previous year, and above the estimated $966 million. The company reported an operating loss of $447.3 million and an EPS of -$1.29. For the second quarter, Snowflake anticipates product revenue to be between $1.035 billion and $1.04 billion, representing a 25% year-over-year growth. The company raised its full-year fiscal 2026 product revenue forecast to $4.325 billion, a 25% increase from the prior year, signaling strong demand for its data analytics services. Snowflake's shares surged over 6% in after-hours trading following the earnings release, reflecting investor confidence in the company's performance and future outlook. The company's net revenue retention rate stood at 124%, indicating robust customer spending growth. The company's customer base expanded, with a total of 11,578 customers, up 19% year-over-year, and 606 customers generating over $1 million in trailing 12-month product revenue, a 27% increase. Additionally, Snowflake now serves 754 Forbes Global 2000 customers. The company's remaining performance obligations grew 34% to $6.7 billion, underscoring future revenue potential. Snowflake's product gross margin was 76%, with an operating margin of 9% and free cash flow of $183 million.