Summary by Futu AI
C3.ai, an enterprise AI application software company, reported a total revenue of $78.4 million for the three months ended January 31, 2024, marking an 18% increase compared to the same period last year. The nine-month revenue also rose by 15% to $224.0 million. Subscription revenue, which constitutes the majority of total revenue, grew by 23% for the quarter and 14% for the nine-month period. The company's transition to a consumption-based pricing model aligns with industry standards and is expected to attract more customers and increase system usage over time. Despite the positive revenue growth, C3.ai experienced a net loss of $72.6 million for the quarter and $206.8 million for the nine-month period. The company's go-to-market strategy focuses on large organizations and expanding...Show More