Preview|SNOW 2Q26: Cortex Code Continues to Drive Strong Growth

Sales Execution

Sales partner growth is generally measured by Consumption, which is highly correlated with Revenue, because SNOW primarily evaluates partners on Consumption. A few contacts use consulting revenue where Consumption data are unavailable.

U.S. Partner A

1. Consumption Performance
   1. 1Q25 growth accelerated and exceeded expectations
   2. 2Q25 growth accelerated and significantly exceeded expectations
   3. 3Q25 growth slowed and fell short of expectations
   4. 4Q25 growth accelerated and exceeded expectations
   5. 1Q26 growth was flat versus 4Q25
   6. 2Q26 exceeded expectations

U.S. Partner B

1. Consumption Progress
   1. 1Q25 accelerated versus 4Q24 and exceeded expectations by 15-20%
   2. 2Q25 accelerated versus 1Q25 and exceeded expectations
   3. 3Q25 slowed versus 2Q25 and fell short of expectations
   4. 4Q25 accelerated versus 3Q25 and exceeded expectations
   5. 1Q26 accelerated modestly versus 4Q25 and exceeded expectations by 8%
   6. 2Q26 slowed modestly versus 1Q26, in line with expectations.
2. 2Q26 Trends
   1. Customers are increasingly using Snowflake to consolidate data, and Snowflake is taking share from platforms such as Google BigQuery, AWS Redshift, and Microsoft Fabric.
   2. However, we also note that CSPs such as AWS are reducing sales resources dedicated to Snowflake and allocating more sales resources to Databricks and Anthropic, which could affect Snowflake sales going forward.

U.S. Partner C

1. Consumption Progress
   1. 3Q25 grew 24% YoY, exceeding the 22% expectation
   2. 4Q25 grew 28% YoY, at the high end of the expected 26-28% range
   3. 1Q26 grew 28-29% YoY, exceeding the expected 24-26%
   4. 2Q26 grew 32% YoY, exceeding the expected 27-28%, making it the strongest quarter over the past several quarters
   5. 3Q26 and 4Q26 YoY growth expectations have been raised from 30% to 34% to 35%.
2. Reasons for 2Q26 Outperformance