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C3.ai | 8-K: C3 AI Announces Fiscal Fourth Quarter and Full Fiscal Year 2024 Financial Results

SEC ·  May 30, 2024 04:15

Summary by Moomoo AI

On May 29, 2024, C3.ai, Inc. reported its financial results for the fiscal fourth quarter and the full fiscal year ended April 30, 2024. The company announced a 20% year-over-year increase in fourth-quarter revenue to $86.6 million and a 16% increase in full-year revenue to $310.6 million, both surpassing guidance expectations. Subscription revenue for the quarter grew by 41% to $79.9 million, representing 92% of total revenue. The company also reported a GAAP net loss per share of $(0.59) and a non-GAAP net loss per share of $(0.11). C3.ai's cash reserves stood at $750.4 million, with positive free cash flow of $18.8 million for the quarter. Additionally, C3.ai filed a lawsuit against Enel Global Services S.r.l. for misappropriation of trade secrets and breach of contract, seeking €2.1 billion in damages. The company does not plan to provide regular updates on the legal action due to the unpredictable nature of legal proceedings.
On May 29, 2024, C3.ai, Inc. reported its financial results for the fiscal fourth quarter and the full fiscal year ended April 30, 2024. The company announced a 20% year-over-year increase in fourth-quarter revenue to $86.6 million and a 16% increase in full-year revenue to $310.6 million, both surpassing guidance expectations. Subscription revenue for the quarter grew by 41% to $79.9 million, representing 92% of total revenue. The company also reported a GAAP net loss per share of $(0.59) and a non-GAAP net loss per share of $(0.11). C3.ai's cash reserves stood at $750.4 million, with positive free cash flow of $18.8 million for the quarter. Additionally, C3.ai filed a lawsuit against Enel Global Services S.r.l. for misappropriation of trade secrets and breach of contract, seeking €2.1 billion in damages. The company does not plan to provide regular updates on the legal action due to the unpredictable nature of legal proceedings.
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