Revenue Growth - Total revenue for the three months ended January 31, 2024, was $78.4 million, representing an 18% increase year-over-year[146] - Subscription revenue grew to $70.4 million for the three months ended January 31, 2024, reflecting a 23% increase compared to the same period last year[146] - Total revenue for the fiscal year 2024 is projected to reach $78.4 million, reflecting an 18% year-over-year growth[150] - Customer Engagement increased to 445 as of January 31, 2024, up from 247 a year earlier, representing an 80% year-over-year growth[163] - Subscription revenue for the nine months ended January 31, 2024, increased by $24,624,000, or 14%, compared to the same period in 2023[210] Pricing Model and Revenue Impact - The company transitioned to a consumption-based pricing model, which is expected to align with industry standards and facilitate customer acquisition[147] - The consumption-based pricing model is anticipated to have a short-to-medium term negative effect on revenue growth and remaining performance obligations (RPO)[147] - The company has transitioned to a consumption-based pricing model, which is expected to accelerate revenue growth in the medium to long term[164] Customer and Market Expansion - The company aims to expand its market presence in industries such as telecommunications, pharmaceuticals, and healthcare, which represent significant growth opportunities[171] - Approximately 14% and 17% of total revenue for the three months ended January 31, 2024 and 2023, respectively, was derived from international customers, indicating growth potential in international markets[187] - The company derived 15% and 20% of total revenue for the nine months ended January 31, 2024 and 2023, respectively, from international customers, highlighting the importance of international expansion[187] Operating Expenses and Financial Performance - Operating expenses for the three months ended January 31, 2024, totaled $127,833,000, an increase of 10% from $116,436,000 in the same period of 2023[214] - The company’s operating expenses are expected to increase as a percentage of total revenue in the near term, stabilizing and potentially decreasing as the business matures[196] - Net loss for the three months ended January 31, 2024, was $72,631,000, compared to a net loss of $63,162,000 in the same period of 2023[206] - Total operating expenses for the nine months ended January 31, 2024, were $362,984,000, up from $350,169,000 in the same period of 2023[214] Research and Development - The company plans to maintain high levels of investment in research and development to drive core technology innovation and new product introductions[178] - Research and development expenses are expected to increase in absolute dollars as the company continues to invest in product offerings, with a long-term expectation of these expenses declining as a percentage of total revenue[200] - Research and development expenses decreased by $5.6 million (10%) to $49.5 million for the three months ended January 31, 2024, mainly due to lower personnel-related costs[223] Cash Flow and Liquidity - Net cash used in operating activities was $83.7 million for the nine months ended January 31, 2024, compared to $142.7 million for the same period last year, reflecting a reduction in cash outflows[235] - Free cash flow for the nine months ended January 31, 2024, was $(109.2) million, an improvement from $(203.5) million in the same period last year[232] - The company had $114.6 million in cash and cash equivalents and $608.8 million in marketable securities as of January 31, 2024, indicating a strong liquidity position[233] - As of January 31, 2024, the company had cash, cash equivalents, and marketable securities totaling $723.3 million, down from $812.4 million as of April 30, 2023[248] Tax and Accounting - The provision for income taxes increased by $346,000 (242%) to $489,000 for the three months ended January 31, 2024, primarily due to foreign and state tax expenses[230] - The company’s income tax provision is based on federal, state, and foreign tax rates, with a full valuation allowance on deferred tax assets due to uncertainty in realization[205] - There have been no material changes to critical accounting policies and estimates since the last annual report filed on June 22, 2023[245] Internal Controls and Risk Management - The company has evaluated its disclosure controls and procedures and concluded they were effective at the reasonable assurance level as of the end of the reporting period[253] - No changes in internal control over financial reporting were identified that materially affected the company's internal controls during the reporting period[254] - The company recognizes inherent limitations in the effectiveness of internal controls and intends to continue monitoring and upgrading them as necessary[255]

C3 AI Announces Third Quarter Fiscal 2024 Financial Results Revenue Tops Guidance. Growth Accelerates. Revenue Target Raised REDWOOD CITY, Calif. — February 28, 2024 — C3.ai, Inc. ("C3 AI," "C3," or the "Company") (NYSE: AI), the Enterprise AI application software company, today announced financial results for its fiscal third quarter ended January 31, 2024. "We had a great quarter. Total revenue of $78.4 million grew 18% year-over-year, exceeding our guidance range. Customer engagement grew 80% year-over-y ...

Nvidia (NASDAQ: NVDA) stock price has triggered a major animal spirit in Wall Street. The shares have jumped to over $800, a big increase since it was trading at less than $50 before the COVID-19 pandemic. It has become a $2 trillion company and the fourth-biggest company in the world after Microsoft, Apple, and Saudi Aramco.Nvidia leads to surge in AI stocksCopy link to sectionThe recent performance of Nvidia has triggered a major rally among AI stocks as investors seek to get the next big thing in the ind ...

Wall Street analysts forecast that C3.ai, Inc. (AI) will report quarterly loss of $0.28 per share in its upcoming release, pointing to a year-over-year decline of 366.7%. It is anticipated that revenues will amount to $75.92 million, exhibiting an increase of 13.9% compared to the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Before ...

In the early days of the investor hype surrounding artificial intelligence (AI) stocks last year, C3.ai (AI 1.72%) looked to be one of the odds-on favorites to do well. And while 2023 did turn out to be a good year for the tech stock -- it rallied 157% -- the stock price movement has slowed drastically for several months largely because the company's financials haven't been all that impressive.C3.ai's stock isn't anywhere near its 52-week high of $48.87. It's down 41% from when it hit that peak last summer. ...

C3.ai, Inc. (AI) closed the most recent trading day at $26.63, moving +1.72% from the previous trading session. This move lagged the S&P 500's daily gain of 2.11%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 2.96%.Heading into today, shares of the company had gained 2.91% over the past month, outpacing the Computer and Technology sector's gain of 1.69% and lagging the S&P 500's gain of 3.08% in that time.Analysts and investors alike will be keeping a close eye on the performan ...

Louis Navellier’s two favorite AI stocks … but what about their price tag? … AI hardware is beating software today … why Luke Lango believes the ultimate AI hardware device is closeAccording to legendary investor Louis Navellier, two market leaders deserve consideration for your portfolio. And though investors are paying a premium to buy them at today’s prices, Louis says it’s worth it given their position as tomorrow’s AI dominators.From Louis’ latest issue of Accelerated Profits:It’s clear to me that both ...

A downbeat forecast from Palo Alto Networks (NASDAQ:PANW) sent the whole cybersecurity sector down. The company’s results beat estimates, but it guided toward slowing growth in earnings and revenue. In response, other cybersecurity stocks also fell heavily overnight. Zscaler (NASDAQ:ZS) fell nearly 11%.  Crowdstrike (NASDAQ:CRWD) fell 10%, and Fortinet (NASDAQ:FTNT) fell 7%. Palo Alto itself plunged nearly 25% and opened today at $275 per share, a market capitalization of $86 billion.Leading DownwardPalo Al ...

PALM BEACH, Fla., Feb. 21, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - Experts say that the global data center infrastructure market, which has been substantially growing over the last few years is projected to continue to grow in the years to come. A report from Statista said: "As the demand for highly capable artificial intelligence (AI) data processors continues to rise, the revenue for this market is expected to grow significantly. In 2020, it was estimated that the revenue for AI processo ...

In recent times, there have been trading sessions where artificial intelligence (AI) and specialty tech stocks roared higher in price. Tuesday, however, was not one of them.On investor hedging with a leading title in tech hardware, concern spread throughout the tech sector and affected the stocks of many niche players. AI solutions developer C3.ai (AI -5.85%) took a nearly 6% hit to its price that day, while Pure Storage (PSTG -5.01%) wasn't far behind with a 5% drop. Two other prominent specialty tech comp ...