C3 AI preliminary Q1 revenue ~$70M, GAAP loss ~$125M; CEO says sales 'unacceptable,' health issues; CEO search underway

C3.ai, Inc.

Preliminary Q1 revenue $70.2M-$70.4M; GAAP loss from ops ~$124.8M; non-GAAP loss ~$57.8M; cash $711.9M.
CEO Siebel says sales results in Q1 'completely unacceptable'; cites disruption from reorganization and his health issues (multiple hospitalizations, vision impairment).
Restructured sales and services org; new leaders: Rob Schilling as EVP/Chief Commercial Officer, John Kitchingman GM EMEA, Jeff Cosseboom, Lars Farnstrom.
Actively searching for successor CEO; Siebel says health improved, fully engaged.

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