Snowflake
SNOWQ2 2025(SNOW Q1 FY2026)Estimated8% AI
AI Revenue %
8%
AI Fair Value
$1.9B
AI Revenue (Q)
$66.3M
Total Revenue (Q)
$828.7M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Snowflake's Q1 FY2026 (three months ended April 30, 2025) filing shows total revenue of $1,042.1M, crossing the $1B quarterly milestone. Cost of product revenue cloud infrastructure is now 68% (up from 65% a year ago), indicating more compute-intensive workloads including AI inference. The company introduced public sector deployments with contractual software possession rights, signaling expansion into government AI use cases. R&D spending of $472.4M (+15% YoY) reflects heavy AI investment. No AI-specific revenue breakdown provided. The 8% estimate (~$83.4M) reflects the maturing Cortex AI product suite, growing AI/ML consumption patterns, and the increasing share of compute-intensive AI workloads driving the rise in cloud infrastructure costs as a percentage of product revenue.
Analyzed by claude-opus-4-6
Quoted Figures
Revenue $1,042,074 thousand for the three months ended April 30, 2025
10-Q for period ended April 30, 2025, Segment Information
approximately 68% and 65% of cost of product revenue represented third-party cloud infrastructure expenses for the three months ended April 30, 2025 and 2024, respectively
10-Q for period ended April 30, 2025, Segment Information footnote
During the three months ended April 30, 2025, the Company began marketing the Snowflake platform to selected public sector customers who will have contractual rights to take possession of the Company's software
10-Q for period ended April 30, 2025, Software Development Costs policy
AI Products Identified (Ring 1)
Cortex AI (LLM inference, fine-tuning, search, analysts)Snowpark MLDocument AIArctic LLMSnowflake Intelligence
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
AI Data Cloud platformSnowflake MarketplaceStreamlitPublic sector deployments
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix