The revenue beat Wall Street's estimates while the adjusted loss met expectations.
For the quarter ended Jan. 31, the San Mateo, Calif., company posted a loss of $198.9 million, widened from $83.3 million in the year-earlier quarter.
On a per-share basis, the loss narrowed to 70 cents a share from $1.67 a share, as shares outstanding climbed to 284.1 million from 50 million. Snowflake went public in September 2020.
On an adjusted basis, the loss was 17 cents a share, according to FactSet.
Revenue reached $190.5 million from $87.7 million.
A survey of analysts by FactSet produced consensus estimates of a GAAP loss of 43 cents a share, or an adjusted loss of 17 cents a share, on revenue of $178.5 million.
At last check Snowflake shares were trading down 4.9% at $235. They finished the regular Wednesday trading session down 8.7% at $247.03. In 2021 through the Wednesday regular close, the stock was down 12%.
Along with the revenue growth, Snowflake "saw improving operating efficiency while expanding our footprint globally," Chief Executive Frank Slootman said in a statement.
Snowflake finished the fiscal year with 4,139 total customers, 77 of which accounted for trailing 12-month product revenue greater than $1 million.
In the current quarter, Snowflake offered product revenue guidance of between $195 million and $200 million. Analysts are currently looking for $196 million, on average, based on a FactSet survey.