C3.ai, an enterprise AI application software company, reported a 21% year-over-year increase in total revenue, reaching $87.2 million for the three months ended July 31, 2024. Subscription revenue, which accounted for 84% of total revenue, grew by 20% to $73.5 million compared to the same period last year. Professional services revenue also saw a 25% increase. Despite the revenue growth, the company experienced a net loss of $62.8 million, although this was a slight improvement from the $64.4 million loss in the previous year. The company's transition to a consumption-based pricing model is in progress, with the aim of aligning with industry-standard cloud software pricing and facilitating customer acquisition. C3.ai's go-to-market strategy focuses on large organizations and expanding into new industries. The...Show More

C3.ai, an enterprise AI application software company, reported a 21% year-over-year increase in total revenue, reaching $87.2 million for the three months ended July 31, 2024. Subscription revenue, which accounted for 84% of total revenue, grew by 20% to $73.5 million compared to the same period last year. Professional services revenue also saw a 25% increase. Despite the revenue growth, the company experienced a net loss of $62.8 million, although this was a slight improvement from the $64.4 million loss in the previous year. The company's transition to a consumption-based pricing model is in progress, with the aim of aligning with industry-standard cloud software pricing and facilitating customer acquisition. C3.ai's go-to-market strategy focuses on large organizations and expanding into new industries. The company has also invested in generative AI, launching the C3 Generative AI Suite and achieving AWS Generative AI Competency. Looking forward, C3.ai plans to continue investing in research and development, brand awareness, and expanding its go-to-market and partnership ecosystem. Internationally, the company aims to grow its customer base, having derived 13-15% of its total revenue from international customers. C3.ai's financial position includes $133.8 million in cash and cash equivalents and $628.7 million in marketable securities as of July 31, 2024.