(Snowflake) Snowflake, Inc.’s net loss increased to $189.8 million in the second quarter of the 2022 fiscal year, from a loss of $77.6 million in the same period of last year.
The company’s net loss for the first half-year closed at $393 million in contrast to a net loss of $171.2 million in the corresponding period of last year.
The net revenue of Snowflake increased 104% to $272.2 million in the second quarter compared to $133.1 million in the same quarter of last year.
The revenue in the first half-year jumped to $501.1 million, from $241.9 million in the same period of last year.
Snowflake projects an 89%-92% revenue growth or between $280 million and $285 million in the third quarter of the 2022 fiscal year.
The product revenue for the full year in the 2022 fiscal year is expected to grow by 91-93% to between $1.01 billion and $1.07 billion.
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