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

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 into new industries. C3.ai's product offerings have grown to over 40 AI production applications across various sectors. The company continues to invest in generative AI, expecting to enhance its offerings and address the evolving enterprise AI market. C3.ai's international revenue accounted for 14-17% of total revenue, indicating a global market presence. The company's financial condition remains strong with $114.6 million in cash and cash equivalents and $608.8 million in marketable securities as of January 31, 2024.