Recently Microsoft announced a new experimental feature in Power Apps: Named formulas
Named formulas in summary are, defined functions without parameters, that can be reused anywhere in a Canvas App.
What are the advantages of using Named formulas instead of global variables (defined with ‘Set’)?
The formula’s values are always available, there is no time dependency as it happens on App.OnStart (if you enabled delayed start, some variables might not have been populated when you try to access their values).
Formula definitions work like constants, they need to be defined in the App.Formulas property and cannot be updated anywhere else in the app
Also, the formula’s output values are only calculated when needed, which will speed up app loading times if you defined a lot of them in the App.OnStart event
How to use them?
Enable Named formulas under experimental features (authoring version 3.22091):

After enabling the feature and reloading the app, add…
More About This Author

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SharePoint and Office 365 Consultant/Developer always trying to get the best from Microsoft stack (Microsoft 365/Azure/Power Platform and related stuff).
Living in Ireland since 2018, I had previously worked in Brazil as a consultant/developer for Office 365, SharePoint and related technologies for almost 10 years.
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