C3 AI's Q4 Earning Report

Financial Performance:

➡️ Total Revenue: $86.6M, up 20% YoY.

➡️ Subscription Revenue: $79.9M, up 41% YoY.

➡️ GAAP Gross Profit: $51.6M, 60% margin.

➡️ Non-GAAP Gross Profit: $60.9M, 70% margin.

➡️ GAAP Net Loss per Share: $(0.59).

➡️ Non-GAAP Net Loss per Share: $(0.11).

➡️ Cash Reserves: $750.4M.

➡️ Positive Free Cash Flow: $18.8M.

Business Highlights:

➡️ Enterprise AI adoption across 19 industries.

➡️ Federal revenue grew by 100% YoY.

➡️ Closed 191 agreements, up 52% YoY.

➡️ 123 pilots closed, up 151% YoY.

➡️ New agreements with ExxonMobil, Maersk, General Mills, and more.

➡️ Expanded engagement with Riverside County and Pasco County Sheriff's Office.

➡️ Bookings by industry: Federal, Defense and Aerospace (49.5%), Oil and Gas (15.2%), State and Local Government (10.8%).

CEO Statement:

"We finished a strong quarter and closed out a huge year for C3 AI. Demand for Enterprise AI is intensifying, and our first to market advantage in Enterprise AI positions us well to capitalize on it," said CEO Thomas M. Siebel.

Customer Success:

➡️ Dow reduced steam cracker downtime using C3 AI Reliability.

➡️ Holcim monitors 3,000 sensors from critical equipment with C3 AI.

➡️ Con Edison improves operational efficiency and public safety with C3 AI.

Federal Growth:

➡️ Revenue more than doubled in FY24.

➡️ Closed 65 Federal agreements, up 48% YoY.

➡️ Expanded AI footprint with U.S. Air Force and U.S. Navy.

Partner Network:

➡️ Closed 115 agreements through partner network, up 62% YoY.

➡️ Partner-supported bookings grew by 76% YoY.

➡️ Deepened partnership with Fractal and Paradyme.

C3 Generative AI:

➡️ Closed 58 pilot agreements across 15 industries in FY24.

➡️ Advanced orchestration for complex queries involving multiple LLMs.

➡️ Enhanced accuracy with automated topic modeling.