Frank. you, Thank
spend our guidance, Before would and discuss our I results discussing time unique to some like I business model. powerful and
model. We a SaaS not are
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model is key drive to differentiator and business a us designed is for Our success. customer
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it of to financials new revenue will RPO. We the al as all in results forward marketplace the our and way that meaningful the the periods. businesses, for will contracted and most is l correlated revenue be information that recognized performance product earnings. recognized us RPO due the including also with obligations GAAP is in a consumption. like we SaaS available on also be would represents to not variability conjunction revenue a less or will non-cancelable remaining be publishing Snowflake quarterly because in deferred invoiced contracted revenue metric our consumer marketplace both future and mention now focus Unlike on amounts our of financial billings not on encourage to to you I going we yet
guidance. Now let's our results in to turn
million, year-over-year For QX representing $XXX revenues were growth. product XXX%
growth a life of while the Our platform million vision. years. X.X embracing base representing for average $XXX weighted realizing strong our cases, driven by obligation Data of per Snowflake is their was remaining contracts performance customer Cloud This the XXX% value year-over-year existing our also multi-year with performance use
business mentioned the contract our is of model see. end allows which to entire I consume we earlier, the what before customers As our often their term,
as our we see us us, direct with multi-year is commitments customers result can willing also create more to scale. make We to value which continue continue of to with the customers a
million on in the year. saw QX, product We moving greater XX the focused $X customers the see XX, paying off. from are than last period up revenue, of benefits same consuming market and XX-month number you to investments up of those increasingly trailing In increased in we can
was in cash provider was free lower connection a adjusted service XX% Turning by with non-GAAP credits margin one-time XX% in product cloud new negative to our prepayments margin. flow our than from Operating positively XX% lower impacted costs margin benefiting a coming expected our a employee-related by margin basis than in margins, impacted gross on was agreements. from expected operating negative and positively stronger received
and guide the forward, on will payroll cash stock employee non-GAAP Going adjusted tax impact for flow. we free exclude report paid of transactions. items cash will Adjusted flow employer cash free
we saw This items. quarter, impact from a $XXX,XXX those
that To of will Data to in the our detailed cash, customers invest We Ventures, investments. to demonstrate and to Ventures Cloud. strategic mobilizing organizations invest Snowflake we Data the a long-term ended the enable to free a which cash done investor with acquisition one this, allows to more do bridge focused tuck-in initiatives to Snowflake opportunities as as month. we cash with on native and we to in equivalents that billion the aligns is continue refer our and flow in our position M&A provide means from new product us our operations quarter last flow, everything This adjusted evaluate in data, must short-term and stage way in growth cash For announced website. expand presentation strategic mission harness of capital such for and on Snowflake opportunities strong Cloud. commitment the strategy approximately product. cash to strategy, $X.X companies talent value Similarly, technology, will delivering power please our a IR be
we our impacting COVID Now, update give I would on like view how to an forecast.
our assumes, for remotely forecast Our will continue the foreseeable to employees working be future.
in the to smoothly the eventually we employee until are enable and collaboration we've and office proven on we and have return XXX pandemic back level, to to can will operating Zoom employees during pandemic. regular rush will believe the our maintain the Leveraging been to at safety, We ability guarantee to tools, during a back but We high our we new other productivity in travel. information work no over be board remotely. office, continue have
turn let's full for year fourth guidance to Now fiscal the XXXX. quarter and
revenues million, XXXX, fourth product XXX%. $XXX quarter year-over-year and the XXst, and between For ending million XX% expect growth representing $XXX between January we
we cash gross margin the consumption expect recognize margins, non-GAAP booked. to after and Turning million remind X% operating an basis, negative flow do negative model, that like immediately is to a product everyone our and outstanding. expect we margin shares weighted XX% average implied XX% revenue margin, business on XXX we based I adjusted free not because of would deal
reason see not you revenue flowing a quarter, ratable in to business the this like may you a beat through model. would For next
Just of necessarily forward. those one mean pattern continue certain will it consumes not customer because patterns in a they going does quarter,
and expect XXX% between $XXX of and For we revenues $XXX representing the between full XXX%. year million million, growth fiscal year-over-year product XXXX,
cash negative XX% million and free flow the now margin to average weighted line we Turning outstanding. a you expect XXX With negative expect that can adjusted basis shares operator, open questions. non-GAAP margin, margin, on gross we for XX% operating and product margins, XX%
