| 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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| From: Julius Wong | 5/29/2024 5:19:59 PM | | | | | | C3.ai soars after Q4 results, forecast top estimates
May 29, 2024 4:19 PM ET
By: Chris Ciaccia, SA News Editor
 hapabapa
C3.ai (NYSE: AI) shares jumped nearly 13% in extended-hours trading on Wednesday after the enterprise software company reported fiscal fourth-quarter results and guidance for the next year that topped expectations.
Looking to fiscal 2025, C3.ai expects to generate between revenue between $370M and $395M, above the $367.7M estimate.
The company also offered guidance for the coming fiscal first-quarter, as it expects sales to be between $84M and $89M, with the mid-point above the $85.9M estimate.
“Demand for Enterprise AI is intensifying, and our first to market advantage in Enterprise AI positions us well to capitalize on it,” said C3 AI CEO and Chairman Thomas Siebel. “Our Enterprise AI applications have been adopted across 19 industries, underscoring increasing market diversity. Our federal revenue grew by more than 100% for the year. The interest we are seeing in our generative AI applications is staggering.”
The strong view for the next year comes after the Siebel-led company reported fiscal fourth-quarter results that topped estimates. Sales for the period ending April 30 rose 19.6% year-over-year to $86.59M, above the $84.39M estimate.
The Redwood City, Calif.-based firm reported an adjusted loss per share of $0.11 per share, above the $0.30 loss that analysts had been expecting.
The company closed several agreements in the quarter, entering into new deals with organizations like ExxonMobil, A.P. Moller-Maersk, General Mills, the U.S. Navy and others.
Moreover, C3.ai's federal contracts continued to show significant strength, with revenue from federal services up more than 100% year-over-year.
Subscription revenue during the period rose 40.4% year-over-year to $79.9M, comprising 92% of total revenue.
The company will hold a conference call at 5 p.m. EST to discuss the results. |
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| From: Savant | 5/31/2024 2:11:13 PM | | | | | | *dog that hunts, vs dogs that don't hunt*.>>
In the middle of a rough stretch for enterprise software companies, C3.ai on Wednesday managed to post better-than-expected results for its April quarter. The company has shown accelerating top-line growth for five straight quarters, returning to 20% growth in the latest period for the first time since 2022. And that has the stock up 17% on Thursday,
That stands in contrast to Wednesday's disappointing results from Salesforce.com, which is down 20% on Thursday, and UiPath, off 34%. Workday recently reported a similarly poor quarter.
There is a growing view that enterprise IT budgets are tightening, and the trend is rippling across the sector. That raises an obvious question: What makes C3.ai so special?
C3.ai CEO Tom Siebel thinks the answer is straightforward. While budgets are tightening for conventional enterprise software, he says, companies are spending without any real budgetary constraints on AI applications. Siebel thinks many of the established AI companies are struggling to adapt their legacy applications to an AI world.
"These guys have technology stacks that they built literally in the last century," Siebel said in an interview with Barron's. "What they do is they've taken an AI sticker and put it on the front of their box -- ServiceNow, Salesforce, Workday, Oracle, SAP. I'm not really sure that dog hunts. The difference between us and them is that we're native enterprise AI. I started building this AI software stack 15 years ago, and today we have 90 turnkey enterprise applications. We're in a different place than they are."
Siebel says AI could actually be a headwind, rather than an accelerant, for some enterprise software companies as spending priorities shift.
"It's definitely not a headwind for us," he says. "Where we are, I'm not really sure there are any budgets. These guys just make the budgets up. This is happening at the CEO level, or the person who runs manufacturing level, and they don't need a budget. Managers write a check and go."
Siebel points out that all of the chips that Nvidia is selling are being used to build out AI infrastructure to run AI applications. "These guys are building hardware for us. They're out there laying pavement 100 miles ahead of us so we can roll into it."
The C3.ai chief, who was also the founder of the customer relationship management software company Siebel Systems, which was acquired by Oracle in 2006, adds that enterprise software companies are suffering in part from a lack of innovation beyond AI.
"I mean, who doesn't have CRM installed?" he asks. "Who doesn't have an enterprise CRM license? Everybody's got it. They've got to have something new."
Meanwhile, Siebel also makes the case that more of the value in the AI food chain will eventually go to AI software companies.
"Let's look at the AI stack," he says. "At the bottom we have silicon, and above that we have infrastructure. Above that we have foundational models, and on top of that we have applications. The bulk of the value in the market today is being attributed to silicon and infrastructure. It was the same thing in the PC market in 1990. But as we saw in PCs, in the long run, the value is in the application layer, and that's where we play. In the long run, silicon gets commoditized, because it always does, and the infrastructure gets commoditized, because it always does. We've seen this movie before." |
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| From: Julius Wong | 7/21/2024 8:58:08 AM | | | | | | Cloud providers in AI, data named 'top picks' as earnings approach: Oppenheimer
Jul. 21, 2024 8:00 AM ET
By: Brandon Evans, SA News Editor
 Gary Yeowell
Microsoft (NASDAQ: MSFT), Cloudflare (NYSE: NET) and C3.ai (NYSE: AI) stand as "Top Picks" heading into earnings season according to Oppenheimer in the investment bank's cloud preview.
"All three enable AI infrastructure/data where enterprises are increasing spending and accelerating cloud migration," said Oppenheimer analyst Timothy Horan, in a detailed investor note. "Separately, hyperscalers are in a battle to create the best AI models. In turn, this drives shortages of AI infrastructure and high CapEx spending and solid cloud growth."
To fund this, companies are cutting back on legacy IT and application spending. Enterprises are also purchasing more hyperscaler bundles, which include features such as cybersecurity, communication and networking.
"MSFT is becoming the dominant AI enterprise platform, the key number is Azure growth, we are at 31% and expect a 31% guide," Horan noted. "NET is setting up to be the dominant edge platform, and will likely beat by 100bps and guide up by 200bps for the year. C3.ai is enabling enterprise AI monetization. All three have great tools to help enterprises with security and to store and manage data, all with recent major product improvements."
Investors will also focus on Google ( GOOG)( GOOGL) Cloud and AWS ( AMZN).
"Success with their AI endeavors versus MSFT will be the focus," Horan said. "We are also looking for ancillary AI impacts on cloud adoption, data management, bundling, security sales, and any signs of increased optimizations."
"Both Google and Amazon made aggressive moves to poach talent and customers as they play catchup to Microsoft and OpenAI in generative-AI," he added.
Google's quarterly results are slated for July 23 after markets close. Estimates call for earnings per share of $1.84 on revenue of $84.29B.
Microsoft plans to release it quarterly financial results on July 30, after markets close. Analysts expect earnings per share of $2.93 on revenue of $64.37B.
Amazon's results are scheduled for post-market on Aug. 1. Analysts' estimates call for earnings per share of $1.01 on earnings of $148.53B.
Cloudflare's results are slated for release after markets close on Aug. 1. Estimates call for earnings per share of $0.14 on revenue of $394.49M.
Meanwhile, C3.ai's quarterly report is not expected until Aug. 30. Estimates anticipate a loss per share of $0.13 on revenue of $86.94M. |
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