| From: Julius Wong | 11/21/2023 10:31:40 PM | | | | | | C3.ai gains as Oppenheimer upgrades on 'accelerating growth,' margin expansion
Nov. 21, 2023 9:02 AM ET
By: Chris Ciaccia, SA News Editor
5 Comments
 hapabapa
C3.ai (NYSE: AI) shares rose 2.5% in premarket trading on Tuesday as investment firm Oppenheimer upgraded the enterprise software company, citing expectations for "accelerating growth" and margin expansion.
Analyst Timothy Horan raised his rating on C3.ai ( AI) shares to outperform from perform, along with a $40 price target, noting that he expects fiscal 2023 and 2024 revenue to be 1% and 4% above consensus, respectively.
He noted that since initiating coverage on the stock in late June, shares have underperformed, even as revenue growth has accelerated.
"The 'AI' theme is real and durable, with C3.ai well-positioned as one of the few pure plays helping customers drive new revenue sources/major productivity improvements; should accelerate growth into '25E," Horan wrote in an investor note.
Horan added that companies are not willing to be left behind when implementing artificial intelligence and following the developer days from OpenAI and Microsoft ( MSFT), enterprises have seen additional clarity and return on investment, which bodes well for C3.ai ( AI).
He said that C3.ai ( AI) is benefiting from the halo effect of Microsoft ( MSFT) pushing Copilot, as it shows "practical" applications of AI.
"Additionally, Microsoft's extensive data lakes, robust multicloud connectivity, stringent security compliance systems, and effective intellectual property protection have alleviated enterprise concerns, which C3.ai can piggyback, though we are still early in building the tools/foodchain," Horan explained.
Additionally, he said that recent moves by Microsoft ( MSFT) should help AI commercialization, including product upgrades and cutting processing costs. And with the expected release of ChatGPT 5.0 sometime in the next six months or so, along with the drama surrounding Sam Altman's ouster at OpenAI, these should all be "positive triggers" for C3.ai ( AI), Horan said.
The upgrade comes one day after it was reported that C3.ai ( AI) was cutting jobs across multiple departments due in part to employee performance and cost savings. |
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| From: Julius Wong | 12/2/2023 8:39:28 AM | | | | | | AI stocks gain ground as HP Enterprise CEO says tech has reached 'inflection point'
Dec. 01, 2023 12:51 PM ET
By: Chris Ciaccia, SA News Editor
10 Comments
 da-kuk
Artificial intelligence-linked rose on Friday on back of strong comments from HP Enterprise (NYSE: HPE) Chief Executive Antonio Neri about the technology's future.
“The technology has achieved an inflection point,” Neri said of high-powered servers used for AI, according to Bloomberg. Neri made the comments a company conference in Barcelona.
HP Enterprise ( HPE) shares rose 1% in mid-day trading, while other AI-related stocks, such as C3.ai (NYSE: AI), Palantir (NYSE: PLTR), BigBear.ai Holdings ( BBAI) and SoundHound AI ( SOUN) also saw strong gains.
C3.ai ( AI), led by CEO Thomas Siebel, is slated to report fiscal first-quarter earnings next week. Seeking Alpha Investing Group Leader Jonathan Weber said investors should pay attention to the ratio of subscription revenue, new contract wins, guidance and share dilution.
Neri's comments about AI, which has been one of the top themes of the year, come after his company reported its own quarterly results this week, aided in part by artificial intelligence.
HP Enterprise ( HPE) reported of non-GAAP diluted net earnings per share of 52 cents compared to the average analyst estimate of 50 cents. Sales of $7.4B compared to the estimate of $7.37B.
High Performance Computing & Artificial Intelligence revenue was $1.2 billion, up 37% from the prior-year period in actual dollars and 38% in constant currency.
Following the results, several analysts on Wall Street weighed in on the results, including Morgan Stanley, which upgraded the stock based on valuation as well as its exposure to AI.
Separately this week, HP Enterprise ( HPE) announced it was expanding its partnership with Nvidia ( NVDA) to build an enterprise computing solution for generative artificial intelligence. |
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| From: Julius Wong | 12/6/2023 5:39:36 PM | | | | | | C3.ai Non-GAAP EPS of -$0.13 beats by $0.05, revenue of $73.23M misses by $1.1M
Dec. 06, 2023 5:00 PM ET
By: Pranav Ghumatkar, SA News Editor
5 Comments
- C3.ai press release (NYSE: AI): Q2 Non-GAAP EPS of -$0.13 beats by $0.05.
- Revenue of $73.23M (+17.3% Y/Y) misses by $1.1M.
- Subscription revenue for the quarter was $66.4 million, constituting 91% of total revenue, an increase of 12% compared to $59.5 million one year ago.
- Cash Reserves: $762.3 million in cash, cash equivalents, and investments.
- Customer Engagement: Customer Engagement for the quarter was 404, an increase of 81% compared to 223 one year ago.
- Q3 Outlook: Total revenue $74.0 - $78.0M vs. consensus of $74.33M; Non-GAAP loss from operations $(40.0) - $(46.0)M.
- 2024 Outlook: Total revenue $295.0 - $320.0M vs. consensus of $307.88M; Non-GAAP loss from operations $(115.0) - $(135.0)M
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| From: Julius Wong | 2/28/2024 8:57:53 PM | | | | | | C3.ai bumps up annual sales guidance on higher customer engagement, stock +15% after hours
Feb. 28, 2024 4:36 PM ET
By: Anuron Mitra, SA News Editor
 da-kuk
Class A shares of C3.ai (NYSE: AI) on Wednesday jumped more than 15% in extended trading, after the enterprise software company bumped up its annual revenue guidance as more customers signed up to use its products and solutions.
C3.ai ( AI) stock was last up 15.3% to $34.25 after hours.
The Redwood City, Calif.-based firm reported an adjusted loss per share of 13 cents for FQ3 2024 on revenue of $78.4M. Analysts had been expecting a loss of 28 cents per share on sales of $76.14M.
C3.ai ( AI) provides software that uses enterprise artificial intelligence (AI), or solutions that apply AI and machine learning to digitally solve problems faced by organizations.
"Customer engagement grew 80% year-over-year. Our significant first mover advantage in Enterprise AI is generating tailwinds as market interest in adopting AI accelerates,” C3.ai ( AI) top boss Thomas Siebel said in a statement.
The company closed 50 agreements in the quarter, entering into new deals with names such as medical device company Boston Scientific ( BSX), drugmaker AbbVie ( ABBV) and telecom firm T-Mobile US ( TMUS).
Moreover, C3.ai's ( AI) federal contracts continued to show significant strength, with revenue and bookings from federal services up 100% and 85% Y/Y, respectively. The company entered into and expanded upon agreements with agencies such as the U.S. Department of Defense and the U.S. Air Force.
C3.ai's ( AI) overall FQ3 subscription revenue rose 23% Y/Y to $70.4M, comprising 90% of total revenue.
Turning to the company's guidance, C3.ai ( AI) now sees full year fiscal 2024 revenue of $306M to $310M, up from a prior forecast of $295M to $320M. The consensus estimate is $305.53M. FQ4 revenue is anticipated to be $82M to $86M, versus a consensus of $83.91M. |
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| From: Savant | 3/27/2024 11:31:11 AM | | | | | | The expanded partnership builds on a track record of success in AI integration across the U.S. government
REDWOOD CITY, Calif.--(BUSINESS WIRE)--March 27, 2024--
C3 AI (NYSE: AI), the Enterprise AI application software company, today announced an enhanced partnership agreement with Paradyme, a technology solutions company that works with the U.S. government to improve operational efficiency and business agility. Since 2021, the two companies have partnered to provide AI-powered applications that deliver predictive insights to federal agencies.
Under the new agreement, Paradyme will significantly grow its number of dedicated staff to accelerate joint selling and delivery efforts. In addition to the C3 AI Defense and Intelligence Suite, Paradyme will also be trained on and sell C3 Generative AI for Defense and C3 AI Law Enforcement.
"C3 AI's federal business remains extremely strong and this collaboration with Paradyme signals the growing adoption of secure, powerful AI products within the defense and intelligence sector," said Thomas M. Siebel, Chairman and CEO, C3 AI. "This expanded partnership exemplifies our dedication to supporting this community and their critical mission of robust national security."
With a significant domain expertise and a C3 AI dedicated workforce, Paradyme works with C3 AI to accelerate the transition and deployment process from pilot to hardened AI application.
"At Paradyme, our mission is to help the U.S. government solve critical needs with technology solutions, and this collaboration with C3 AI completely aligns with that goal," said Sang Na, Chief Growth Officer and Principal, Paradyme. "Our deep technical work and commitment to the defense and intelligence community paired with C3 AI's solutions designed for this industry support our shared goal of advancing the U.S.'s strategic position."
About C3.ai, Inc.
C3 AI is the Enterprise AI application software company. C3 AI delivers a family of fully integrated products including the C3 AI Platform, an end-to-end platform for developing, deploying, and operating enterprise AI applications, C3 AI applications, a portfolio of industry-specific SaaS enterprise AI applications that enable the digital transformation of organizations globally, and C3 Generative AI, a suite of domain-specific generative AI offerings for the enterprise.
View source version on businesswire.com: businesswire.com
CONTACT: C3 AI Public Relations
Edelman
Lisa Kennedy
415-914-8336
pr@c3.ai
Investor Relations
ir@c3.ai
SOURCE: C3.ai Copyright Business Wire 2024 |
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| From: Julius Wong | 5/29/2024 4:21:05 PM | | | | | | C3.ai Non-GAAP EPS of -$0.11 beats by $0.19, revenue of $86.6M beats by $2.2M
May 29, 2024 4:09 PM ET
By: Mary Christine Joy, SA News Editor
- C3.ai press release (NYSE: AI): Q4 Non-GAAP EPS of -$0.11 beats by $0.19.
- Revenue of $86.6M (+19.6% Y/Y) beats by $2.2M.
- Subscription Revenue: Subscription revenue for the quarter was $79.9 million, constituting 92% of total revenue, an increase of 41% compared to $56.9 million one year ago.
- Gross Profit: GAAP gross profit for the quarter was $51.6 million, representing a 60% gross margin. Non-GAAP gross profit for the quarter was $60.9 million, representing a 70% non-GAAP gross margin.
- Net Loss per Share: GAAP net loss per share was $(0.59)
- Cash Reserves: $750.4 million in cash, cash equivalents, and marketable securities.
- Free Cash Flow: Positive free cash flow of $18.8 million.
- The following table summarizes C3 AI’s guidance for the first quarter of fiscal 2025 and full-year fiscal 2025:
(in millions)
| First Quarter Fiscal 2025
Guidance
| | Full Year Fiscal 2025 Guidance
| Total revenue
| $84.0 - $89.0, vs. $85.89M consensus
| | $370.0 - $395.0, vs. $367.53M consensus
| Non-GAAP loss from operations
| $(22.0) - $(30.0)
| | $(95.0) - $(125.0)
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