![]() As a result, we are presenting the weighted-average shares used in computing net income per share attributable to Snowflake Inc. (2) We may have a non-GAAP net income attributable to Snowflake Inc. See the section titled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures. (1) We report non-GAAP financial measures in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Weighted-average shares used in computing net income per share attributable to Snowflake Inc. The following table summarizes our guidance for the fourth quarter of fiscal 2023: Our guidance includes GAAP and non-GAAP financial measures. Numbers are rounded for presentation purposes. See the section titled “Statement Regarding Use of Non-GAAP Financial Measures” for an explanation of non-GAAP financial measures, and the table titled “GAAP to Non-GAAP Reconciliations” for a reconciliation of GAAP to non-GAAP financial measures. Net cash provided by operating activities The following table summarizes our financial results for the third quarter of fiscal 2023: Third Quarter Fiscal 2023 GAAP and Non-GAAP Results: “Snowflake’s Data Cloud maximizes the power and promise of data science and artificial intelligence, a high priority in the modern enterprise.” Our non-GAAP product gross margin came in at 75%, and we continue to drive strong growth at scale, coupled with strength in unit economics, operating profit, and free cash flow,” said Frank Slootman, Chairman and CEO, Snowflake. “During Q3, product revenue grew 67% year-over-year to $523 million. See the section titled “Key Business Metrics” for definitions of product revenue, remaining performance obligations, net revenue retention rate, total customers, and customers with trailing 12-month product revenue greater than $1 million. The company now has 7,292 total customers and 287 customers with trailing 12-month product revenue greater than $1 million. Net revenue retention rate was 165% as of October 31, 2022. ![]() ![]() Remaining performance obligations were $3.0 billion, representing 66% year-over-year growth. Product revenue for the quarter was $522.8 million, representing 67% year-over-year growth. Revenue for the quarter was $557.0 million, representing 67% year-over-year growth. Snowflake Q3 FY23 Infographic (Graphic: Snowflake) ![]()
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