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About

C3.ai, Inc. operates as an enterprise artificial intelligence application software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally.

Key Ratios Snapshot

📈 Growth Pattern

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📊 Quick Scorecard

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⭐ Superinvestors Holding AI

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	223.9K	$1.9M	0.00%	Mar 2026
Jim Simons Renaissance Technologies LLC	110.9K	$934K	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

📊 MIXED C3.ai posts Q4 FY2026 revenue of $51.6M, announces restructuring and cost cuts.

Revenue & Profitability

Q4 FY2026 total revenue was $51.6 million. Non-GAAP gross profit was $19.3 million (37% gross margin). Non-GAAP operating loss was $54.4 million; non-GAAP net loss was $48.8 million ($0.33 per share). Free cash flow was negative $54.8 million. The company ended the quarter with $575.4 million in cash and marketable securities, later increased to $673 million after Tom Siebel purchased $69 million of shares. Guidance for Q1 FY2027: revenue $50-$54 million and non-GAAP operating loss $40.5-$48.5 million. Full-year FY2027 guidance: revenue $210-$240 million and non-GAAP operating loss $128-$160 million.

Outlook

Management described the enterprise AI application market as approximately $10 billion in 2026, growing at a 50% compound annual growth rate to $15 billion in 2027. They see broad demand across financial services, consumer packaged goods, defense, agribusiness, and aerospace. The company believes the market is large and growing, and that their past poor performance does not reflect the opportunity.

Growth Drivers

The key growth driver is a complete overhaul of the sales organization under a new chief revenue officer, with a focus on penetrating approximately 1,000 accounts (up from 100-150 previously). The company is targeting large deals ($50 million to billions), medium deals ($5-50 million), and smaller deals ($0.5-2 million). Additionally, the company is leveraging internal agentic AI tools to increase productivity across all functions.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Q4 FY2026 non-GAAP gross margin was 37%. Professional services gross margin was 78%. Non-GAAP operating expenses were $106 million, down from $139.9 million in the same quarter last year, reflecting $33.9 million in savings. Planned annual cost savings of approximately $135 million are largely realized ($130 million achieved), with full impact expected in the second half of FY2027. Guidance for Q1 FY2027 implies non-GAAP operating expenses of about $96.5 million, significantly lower year-over-year.

Key Risks

Management flagged that the biggest risk was poor sales execution, which led to revenue decline and a well-earned low market multiple. However, they believe this is fixable. An analyst questioned churn and non-renewals, but management stated that the loss of production customers has not been significant. Another risk is the uncertainty around the revenue mix (demo licenses vs. PES vs. subscriptions) post-restructuring, which management could not quantify.

Generated by AI · Q4 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q4 2026 Q4 2026 2026-06-03

Leadership executed a major restructuring, reducing costs and headcount, and is focused on sales execution and productivity gains through AI tools. Q4 revenue was $51.6M with a non-GAAP net loss of $48.8M, and FY27 revenue is guided at $210M–$240M.

Q3 2026 Q3 2026 2026-02-25

Q3 results missed targets, prompting a major restructuring with $135M in cost cuts and a 26% workforce reduction. Federal bookings surged 134% year-over-year, now 55% of total, while revenue guidance for Q4 is $48M–$52M. Cash reserves remain strong at $621.9M.

Q2 2026 Q2 2026 2025-12-03

Q2 saw 7% sequential revenue growth and 49% higher bookings, with strong federal and private sector wins despite a prolonged government shutdown. Gross margin was 54%, and the company maintains a robust cash position while guiding for continued growth and operational improvements.

Q1 2026 Q1 2026 2025-09-03

Revenue fell 19% year-over-year to $70.3M, with a non-GAAP net loss of $49.8M and negative free cash flow. Leadership changes and sales execution issues drove underperformance, but new management and restructuring aim to restore growth. Guidance for next quarter is $72M–$80M.

Q4 2025 Q4 2025 2025-05-28

Q4 and fiscal 2025 saw 26% and 25% revenue growth, respectively, with strong cash reserves and expanding partnerships. The Baker Hughes renewal, rapid growth in non-oil sectors, and robust AI application adoption position the company for continued momentum into fiscal 2026.

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