Snowflake Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended January 31, 2022
March 02, 2022 at 09:05 pm
Share
Snowflake Inc. reported earnings results for the fourth quarter and full year ended January 31, 2022. For the fourth quarter, the company reported sales was USD 383.77 million compared to USD 190.47 million a year ago. Net loss was USD 132.15 million compared to USD 198.94 million a year ago. Basic loss per share from continuing operations was USD 0.43 compared to USD 0.7 a year ago.
For the full year, sales was USD 1,219.33 million compared to USD 592.05 million a year ago. Net loss was USD 679.95 million compared to USD 539.1 million a year ago. Basic loss per share from continuing operations was USD 2.26 compared to USD 3.81 a year ago.
Snowflake Inc. enables every organization to mobilize their data with Snowflakes Data Cloud. The Companyâs platform powers the Data Cloud, enabling customers to consolidate data into a single source of truth to drive meaningful business insights, apply artificial intelligence (AI) to solve business problems, build data applications, and share data and data products. Its platform supports a range of workload, including data warehouse, data lake, data engineering, AI/machine learning (ML), applications, collaboration, cybersecurity, and Unistore. Its cloud-native architecture consists of three independently scalable but logically integrated layers across compute, storage, and cloud services. The compute layer provides dedicated resources to enable users to simultaneously access common data sets for many use cases with minimal latency. The storage layer ingests massive amounts and varieties of structured, semi-structured, and unstructured data to create a unified data record.