As of Q4'26 (2026-01-31), SNOW reported a gross margin of 66.8%, an operating margin of -24.8%, and a net profit margin of -24.1%. While the gross margin remains strong and stable, both operating and net profit margins, though still negative, have improved compared to previous quarters. Over the period from Q1'24 to Q4'26, the gross margin has consistently stayed within the 66% to 68% range, indicating resilient core profitability. The operating margin has shown a notable upward trend, improving from -43.8% in Q1'24 to -24.8% in Q4'26, reflecting better cost management and operational efficiency. Similarly, the net profit margin has narrowed its losses from -36.2% to -24.1% over the same period, demonstrating gradual progress toward profitability despite remaining in negative territory.