Summary by Moomoo AI
On September 4, 2024, C3.ai, Inc., a leading enterprise AI application software company, reported its financial results for the fiscal first quarter ended July 31, 2024. The company announced a 21% increase in total revenue to $87.2 million, up from $72.4 million in the same period last year. Subscription revenue, which constituted 84% of total revenue, also saw a 20% increase to $73.5 million. The GAAP gross profit was $52.2 million, with a 60% gross margin, while non-GAAP gross profit was $60.9 million, representing a 70% non-GAAP gross margin. The company reported a GAAP net loss per share of $(0.50) and a non-GAAP net loss per share of $(0.05). C3.ai's cash reserves stood at $762.5 million, and the company achieved a positive free cash flow of $7.1 million. The quarter saw C3.ai close 71 agreements...Show More
