C3 AI's Q2 Earning Report

Financial Performance:
➡️ Revenue: $73.2 million, marking a significant 17% increase year-over-year, propelled by robust growth in Generative AI.

➡️ Subscription Revenue: Reached $66.4 million, 91% of total revenue, up 12% from the previous year.

➡️ Gross Profit: GAAP gross profit at $41.1 million (56% margin), and Non-GAAP gross profit at $50.4 million (69% margin).

➡️ Net Loss per Share: GAAP net loss per share was $(0.59), while Non-GAAP net loss per share stood at $(0.13).

➡️ Cash Reserves: Strong liquidity with $762.3 million in cash, cash equivalents, and investments.

Business Segments:
➡️ Customer Engagement: Remarkable growth with an 81% increase in customer engagement year-over-year, totaling 404 customers.
➡️ Key Customers: New agreements with GSK, Indorama, First Business Bank; expanded relationships with Con Edison, Roche, Nucor Corporation, Hewlett Packard Enterprise. Federal business bookings up nearly 187%.

Workforce and Office Space:
➡️ Pilot Growth: Closed 62 agreements, including 36 pilots, a significant increase from previous quarters.

Consumption Pricing:
➡️ Introduced a consumption-based pricing model, resulting in over 100 pilots and accelerating customer engagement.

C3 Generative AI:
➡️ Closed 20 new agreements in Q2. Market for Enterprise AI applications, including generative AI, is expanding rapidly, with significant potential for growth.