– Quarterly revenue was $52.4 million, up 17% year over year but down 9% sequentially.
– Quarterly net loss was $36.8 million, compared to a net loss of $13.1 million a year ago and a net loss of $35.2 million in Q2 2023.
– Customer count increased to 89, up from 86 in Q2 2023 and 79 in Q3 2022.
– Next quarter revenue guidance was $54 million to $55 million, representing a growth of 3% to 5% sequentially and a decline of 7% to 9% year over year.
– Next fiscal year revenue guidance was $243 million to $247 million, representing a growth of 14% to 16% year over year.
– Business outlooks were positive, with strong demand for AI solutions across industries and geographies, new product launches and partnerships, and continued investments in R&D and sales.
– Operating expenses increased by 12% sequentially and by 67% year over year, mainly due to higher R&D costs and stock-based compensation expenses.
C3.ai offers a range of products that enable enterprises to build, deploy and operate AI applications at scale. Some of its products are:
– C3 AI Suite: A platform for developing, deploying and operating enterprise AI applications that address company-specific use cases.
– C3 AI Ex Machina: A no-code solution for data analysis and visualization that leverages generative AI capabilities.
– C3 AI CRM: A suite of industry-specific CRM applications that enhance customer engagement, loyalty and retention with AI-powered insights and recommendations.
– C3 Generative AI Product Suite: A new product line that assimilates the latest AI capabilities from OpenAI, academia and Google to enable governments and enterprises to build accurate solutions for complex problems at lower costs.
Source: (1) 12 Best AI Stocks For 2023. https://uk.finance.yahoo.com/news/12-best-ai-stocks-2023-174821787.html
(2) AI Earnings Date 2023 | C3.ai Earnings Forecast – MarketBeat. https://www.marketbeat.com/stocks/NYSE/AI/earnings/
(3) C3.ai Q3 2023 Earnings Preview (NYSE:AI) | Seeking Alpha. https://seekingalpha.com/news/3942702-c3-ai-q3-2023-earnings-preview