AI 8-K: C3.ai reports Q3 FY2024 revenue $78.4M, up 18% YoY; raises revenue target

C3.ai reports Q3 FY2024 revenue $78.4M, up 18% YoY; raises revenue target

C3.ai, Inc.

2024-Q3 EPS reported -$1.75 revenue$223,992,000

Revenue $78.4M, exceeding guidance; subscription revenue $70.4M, up 23% YoY.

GAAP net loss per share $(0.60); non-GAAP net loss per share $(0.13).

Customer engagement 445, up 80% YoY; closed 50 agreements (85% YoY increase).

Cash reserves $723.3M; raised revenue target for FY2024.

Federal revenue up over 100% YoY; partner-supported bookings grew 337% YoY.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

C3.ai, Inc. reported fiscal third quarter ended January 31, 2024 results: revenue $78.4 million, EPS $(0.60). Guidance raised.

Period: fiscal third quarter ended January 31, 2024
Revenue: $78.4 million
EPS: $(0.60)
Guidance: raised
Result: reported results

Exact text from the filing

C3 AI Announces Third Quarter Fiscal 2024 Financial Results Revenue Tops Guidance. Growth Accelerates. Revenue Target Raised REDWOOD CITY, Calif. — February 28, 2024 — C3.ai, Inc. (“C3 AI,” “C3,” or the “Company”) (NYSE: AI), the Enterprise AI application software company, today announced financial results for its fiscal third quarter ended January 31, 2024. “We had a great quarter. Total revenue of $78.4 million grew 18% year-over-year, exceeding our guidance range. Customer engagement grew 80% year-over-year,” said C3 AI CEO and Chairman Thomas M. Siebel. “Our significant first mover advantage in Enterprise AI is generating tailwinds as market interest in adopting AI accelerates.” Fiscal Third Quarter 2024 Financial Highlights • Revenue: Total revenue for the quarter was $78.4 million, an increase of 18% compared to $66.7 million one year ago. • Subscription Revenue: Subscription revenue for the quarter was $70.4 million, constituting 90% of total revenue, an increase of 23% compared

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