Snowflake reported a fiscal-fourth-quarter net loss that widened from the year-ago quarter. However, the cloud-based data warehousing company’s revenue more than doubled.
For the quarter ended Jan. 31, the company’s loss of -$198.9 million, widened from -$83.3 million in the year-earlier quarter. On an adjusted basis, the loss was -17 cents a share, in line with analysts’ expectations.
Revenue increased to $190.5 million from the year-ago quarter’s $87.7 million. Analysts polled by FactSet expected $178.5 million.
Chief Executive Frank Slootman emphasized that Snowflake experienced improving operating efficiency while expanding its global footprint.
Snowflake had 4,139 total customers as of the end of the fiscal year. Out of them, 77 accounted for trailing 12-month product revenue greater than $1 million.
For the current quarter, Snowflake estimates product revenue range of $195 million to $200 million. Analysts are expecting $196 million, based on a FactSet survey.