On September 4, 2024, C3.ai, Inc., a leading enterprise AI application software company, reported its financial results for the fiscal first quarter ended July 31, 2024. The company announced a 21% increase in total revenue to $87.2 million, up from $72.4 million in the same period last year. Subscription revenue, which constituted 84% of total revenue, also saw a 20% increase to $73.5 million. The GAAP gross profit was $52.2 million, with a 60% gross margin, while non-GAAP gross profit was $60.9 million, representing a 70% non-GAAP gross margin. The company reported a GAAP net loss per share of $(0.50) and a non-GAAP net loss per share of $(0.05). C3.ai's cash reserves stood at $762.5 million, and the company achieved a positive free cash flow of $7.1 million. The quarter saw C3.ai close 71 agreements...Show More

On September 4, 2024, C3.ai, Inc., a leading enterprise AI application software company, reported its financial results for the fiscal first quarter ended July 31, 2024. The company announced a 21% increase in total revenue to $87.2 million, up from $72.4 million in the same period last year. Subscription revenue, which constituted 84% of total revenue, also saw a 20% increase to $73.5 million. The GAAP gross profit was $52.2 million, with a 60% gross margin, while non-GAAP gross profit was $60.9 million, representing a 70% non-GAAP gross margin. The company reported a GAAP net loss per share of $(0.50) and a non-GAAP net loss per share of $(0.05). C3.ai's cash reserves stood at $762.5 million, and the company achieved a positive free cash flow of $7.1 million. The quarter saw C3.ai close 71 agreements, a 122% increase year-over-year, with significant expansion in State and Local Government sectors. Notable new agreements were made with companies and organizations such as GSK, Eletrobras, Valero, and the U.S. Department of Defense. The company's Federal business represented over 30% of bookings for the quarter. C3.ai's customer success stories included collaborations with Eletrobras for grid resilience, the U.S. Marine Corps for digital transformation, and Nucor Corporation for manufacturing outcomes improvement. The company also highlighted the growing adoption of its C3 Generative AI applications across various industries. Looking ahead, C3.ai provided financial guidance for the second quarter and full-year fiscal 2025, projecting total revenue between $88.6 million to $93.6 million for Q2, and $370.0 million to $395.0 million for the full year.