AI software company falls short on top line and revenue outlook
- C3.ai missed on its top line for the latest quarter
- The company reported a net loss of $69.8 million
- Adjusted loss per share was 13 cents, better than expected
- Revenue came in at $73.2 million, slightly below expectations
- C3.ai closed 62 agreements, including 36 pilots, during the quarter
- The company is transitioning to a consumption-based pricing model
- Revenue outlook for the next quarter is $74 million to $78 million
- Full fiscal year revenue is projected to be $295 million to $320 million
- C3.ai shares have risen 161% in 2023
C3.ai Inc., a leading AI software company, reported a net loss of $69.8 million for the latest quarter, missing revenue expectations. The company’s adjusted loss per share was 13 cents, better than the anticipated 18 cents. However, revenue came in at $73.2 million, slightly below the expected $74.3 million. Despite closing 62 agreements, including 36 pilots, during the quarter, C3.ai’s shares dropped by nearly 9%. The company is transitioning to a consumption-based pricing model, which has been well-received. Looking ahead, C3.ai projects revenue of $74 million to $78 million for the next quarter and $295 million to $320 million for the full fiscal year. C3.ai shares have seen a significant increase of 161% in 2023.
Factuality Level: 7
Factuality Justification: The article provides financial information about C3.ai Inc.’s latest quarter, including its net loss, adjusted earnings per share, and revenue. It also mentions the company’s transition to a consumption-based pricing model and its plans for the fiscal third quarter and full fiscal year. The information provided seems to be based on the company’s official statements and financial data. However, the article lacks additional context or analysis, and it does not provide any external sources or perspectives to verify the information or provide a more comprehensive understanding of the company’s performance.
Noise Level: 3
Noise Justification: The article provides some financial information about C3.ai Inc., but it lacks depth and analysis. It mainly focuses on the company’s quarterly results and revenue projections without providing much context or insight. The article also includes unrelated information about the CEOs of Nvidia and Microsoft and their views on AI. Overall, the article lacks scientific rigor, intellectual honesty, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: C3.ai Inc.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of C3.ai Inc., a company that makes enterprise artificial-intelligence software. It discusses the company’s net loss, adjusted earnings, and revenue for the fiscal second quarter. There is no mention of any extreme event or its impact.
Public Companies: C3.ai Inc. (AI)
Key People: Thomas Siebel (Chief Executive)
Reported publicly:
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