Peak NRR of 178% in FY-2022. Latest is 126% - that's -52pp from peak.
Snowflake is above the AI Infrastructure Public median by +0pp (cell median: 126%)
Snowflake (SNOW) is a ai infrastructure company at the public stage. As of its most recent disclosure (FY2027-Q1), Snowflake reported a Net Revenue Retention rate of 126% - a strong result for B2B SaaS at this segment.
Snowflake's NRR peaked at 178% in FY-2022, 52pp above today's level. Over the past three years, the metric has contracted by 34pp.
Within its peer set (ai infrastructure companies at public stage in the $500k+ acv band), Snowflake's NRR is roughly in line with the cell median of 126%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
Logo flow per period (count-side complement to dollar-based NRR).
Revenue, ARR, and team-size denominators for the productivity ratios.
Support tiers: Standard · Premier
CS team segments: Specialist teams · Colleges (ML experts within pods)
CSM model: hybrid
Education programs: Colleges
Named CS initiatives across recent disclosures (newest first).
A network where Snowflake customers, partners, developers, data providers, and data consumers can break down data silos.
"To realize this vision, we deliver the AI Data Cloud, a network where Snowflake customers, partners, developers..."
A network where customers can access or acquire third-party data sets, data applications, and other data products.
"The AI Data Cloud includes access to the Snowflake Marketplace, through which customers can access or acquire third-party data sets"
AI feature family showing significant adoption for text analytics and data democratization.
"Our AI feature family, Snowflake Cortex, is showing significant adoption."
Support for open data formats to allow Snowflake to run against data in cloud storage.
"we have seen minimal headwinds from customers moving to Iceberg."
AI-powered products acting as an agentic control plane for business users and builders.
"Snowflake Intelligence and Cortex Code are seeing the fastest adoption of any new products in our history"
Extending agentic control plane to everyday applications like email, Slack, and Jira.
"With Natoma, users can do things like send emails, summarize Slack conversations... without ever leaving Snowflake"
Unified conversational interface bringing AI directly to every user with enterprise guardrails.
"This past fiscal year, we introduced Snowflake Intelligence, bringing the power of AI directly to every user"
Transformational coding agent helping customers build and scale AI-powered applications.
"Cortex Code meaningfully expands the surface of AI development on our platform."
Challenges acknowledged by management. Useful peer signals - your team is probably not alone.
Threat actor accessed customer accounts due to failure to implement MFA.
"in May 2024, we became aware that a cybersecurity threat actor had accessed a number of our customers' Snowflake accounts"
Customers rationalizing budgets and optimizing consumption in response to macroeconomic uncertainty.
"macroeconomic conditions have caused... customers to rationalize budgets, prioritize cash flow management"
Class action lawsuits following threat actors accessing customer accounts and exfiltrating data.
"alleging that the Company failed to take reasonable measures to secure systems that contained consumer data"
Potential loss of storage revenue as customers move to open formats like Iceberg.
"offset the potential loss of storage revenue... from customers moving to Iceberg."
Q4 typically experiences seasonality due to the high number of holidays.
"Q4 has the most number of holidays in it, and there is some seasonality that we experienced."
Customers concerned about managing token spend and usage-based costs for AI tools.
"investors are worried that it's going to reach a point where customers might try to govern or throttle the use"
Curated quotes about customer outcomes, retention, renewals.
"Our focus on our customers has never been stronger. We continue to hear how easy and cost-effective our platform is."
"We do get a lot of visibility into our existing customers with planned migrations that they have."
"inefficient spend from customers inevitably leads to a contraction later anyway. We are better off making sure that it is always efficient spend."
"we spend a lot of time... on really identifying new workloads going to production. We have a pretty good visibility of those."
"We are committed to delivering a cohesive product with fast time to value, and it's the differentiator that leads customers to choose Snowflake again and again."
"We really want it to be a discussion about not what is the cost of Snowflake, but what is the value you're getting."
Side-by-side NRR, customer cohorts, commercial structure, and CS motion.
Snowflake appears on 3 of our retention leaderboards.
Free to embed on your blog or board deck. Includes a small backlink to cust.co.
Or grab the data: JSON API →
| Period | NRR | GRR | Source type | Filing |
|---|---|---|---|---|
| FY2027-Q1 | 126% | - | earnings-call-transcript | source ↗ |
| FY2026-Q4 | 125% | - | 10-K | source ↗ |
| FY-2026 | 125% | - | 10-K | source ↗ |
| FY2026-Q3 | 125% | - | 10-Q-mdna | source ↗ |
| FY2026-Q2 | 125% | - | 10-Q-mdna | source ↗ |
| FY2026-Q1 | 124% | - | 10-Q-mdna | source ↗ |
| FY-2025 | 126% | - | 10-K | source ↗ |
| FY2025-Q4 | 126% | - | 10-Q-mdna | source ↗ |
| FY2025-Q3 | 127% | - | 10-Q-mdna | source ↗ |
| FY2025-Q2 | 128% | - | 10-Q-mdna | source ↗ |
| FY2025-Q1 | 129% | - | 10-Q-mdna | source ↗ |
| FY2023-Q4 | 158% | - | earnings-press-release | source ↗ |
| FY2023-Q2 | 171% | - | 10-Q-mdna | source ↗ |
| FY2023-Q1 | 174% | - | 10-Q-mdna | source ↗ |
| FY-2022 | 178% | - | 10-K | source ↗ |
| FY2022-Q4 | 177% | - | 10-Q-mdna | source ↗ |
| FY2022-Q3 | 173% | - | 10-Q-mdna | source ↗ |
| FY2022-Q2 | 169% | - | 10-Q-mdna | source ↗ |
| FY2022-Q1 | 168% | - | 10-Q-mdna | source ↗ |
| FY2021-Q4 | 168% | - | 10-Q-mdna | source ↗ |
| FY-2021 | 168% | - | 10-K | source ↗ |
| FY2021-Q3 | 160% | - | 10-Q-mdna | source ↗ |
| FY2020-Q4 | 160% | - | 10-Q-mdna | source ↗ |
Generate a live retention report against Snowflake and your full peer cell. Ungated. Downloadable as PDF.