Summary by Moomoo AI
C3.ai, an enterprise AI application software company, reported a 16% increase in total revenue to $310.6 million for the fiscal year ended April 30, 2024, compared to the previous fiscal year. Subscription revenue, which accounted for 90% of total revenue, grew by 21% to $278.1 million. Professional services revenue, however, saw an 11% decrease. The company's transition to a consumption-based pricing model was highlighted as aligning with industry standards and expected to facilitate customer acquisition despite a short-to-medium term negative impact on revenue growth. C3.ai's go-to-market strategy focused on large organizations, with a shift to smaller initial contract sizes and consumption-based pricing. The company's international revenue represented 14% of total revenue, indicating a focus on global expansion. Despite the revenue...Show More
