Snowflake reported its fiscal Q2 2027 on September 2. Product revenue reached $1.49 billion, up 37% year over year. This marked the third consecutive quarter of accelerating growth according to [SaaStr](https://www.saastr.com/5-interesting-learnings-from-snowflake-at-6-billion-in-revenue-37-growth-and-accelerating-126-nrr-and-a-gross-margin-guided-down-to-pay-for-ai/).
Product revenue growth moved from 30% in fiscal 2026 to 34% then 37%.