(Snowflake) Snowflake reported revenue of $334.4 million in the third quarter of 2022, an increase of 100% from the prior year’s fiscal quarter.
Product revenue in the third quarter climbed 110% from the prior year to $312.5 million.
The company’s net revenue retention rate was at 173%, and it boasted of 5,416 customers, with 148 of them having a trailing 12-month revenue above $1 million.
The company’s operating loss widened by 47% to $157.3 million in the third quarter. The product’s gross profit was reported at $220.2 million, representing a margin of 70%.
Snowflake now projects a product revenue of between $345 million and $350 million in Q4 2022, up 94% to 96% from the prior year.
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