Summary by Moomoo AI
C3.ai, an enterprise AI application software company, reported a 21% year-over-year increase in total revenue, reaching $87.2 million for the three months ended July 31, 2024. Subscription revenue, which accounted for 84% of total revenue, grew by 20% to $73.5 million compared to the same period last year. Professional services revenue also saw a 25% increase. Despite the revenue growth, the company experienced a net loss of $62.8 million, although this was a slight improvement from the $64.4 million loss in the previous year. The company's transition to a consumption-based pricing model is in progress, with the aim of aligning with industry-standard cloud software pricing and facilitating customer acquisition. C3.ai's go-to-market strategy focuses on large organizations and expanding into new industries. The...Show More