C3.ai, an enterprise AI application software company, reported a 16% increase in total revenue to $310.6 million for the fiscal year ended April 30, 2024, compared to the previous fiscal year. Subscription revenue, which accounted for 90% of total revenue, grew by 21% to $278.1 million. Professional services revenue, however, saw an 11% decrease. The company's transition to a consumption-based pricing model was highlighted as aligning with industry standards and expected to facilitate customer acquisition despite a short-to-medium term negative impact on revenue growth. C3.ai's go-to-market strategy focused on large organizations, with a shift to smaller initial contract sizes and consumption-based pricing. The company's international revenue represented 14% of total revenue, indicating a focus on global expansion. Despite the revenue...Show More

C3.ai, an enterprise AI application software company, reported a 16% increase in total revenue to $310.6 million for the fiscal year ended April 30, 2024, compared to the previous fiscal year. Subscription revenue, which accounted for 90% of total revenue, grew by 21% to $278.1 million. Professional services revenue, however, saw an 11% decrease. The company's transition to a consumption-based pricing model was highlighted as aligning with industry standards and expected to facilitate customer acquisition despite a short-to-medium term negative impact on revenue growth. C3.ai's go-to-market strategy focused on large organizations, with a shift to smaller initial contract sizes and consumption-based pricing. The company's international revenue represented 14% of total revenue, indicating a focus on global expansion. Despite the revenue growth, C3.ai reported a net loss of $279.7 million for the fiscal year, attributed to operating expenses and investments in growth. The company's operating expenses included sales and marketing, research and development, and general and administrative expenses. C3.ai emphasized its commitment to innovation, particularly in generative AI, with the launch of the C3 Generative AI Suite and applications on AWS and GCP Marketplaces. The company's future plans include continued investment in product innovation, brand awareness, and expansion of its go-to-market and partnership ecosystem.