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C3.ai, Inc. (NYSE: AI) is a prominent player in the realm of enterprise artificial intelligence (AI). Based in Redwood City, California, the company offers a wide array of products and services designed to accelerate digital transformation across industries. C3 AI's core offering is the C3 AI Platform, an end-to-end solution for developing, deploying, and operating large-scale enterprise AI applications. This platform is supplemented by C3 AI Applications, a suite of industry-specific, turnkey SaaS solutions that address unique business needs, and C3 Generative AI, a collection of advanced AI transformer models.
The company’s innovative approach has garnered significant traction across diverse industries, from manufacturing and healthcare to federal government and energy sectors. Some notable partnerships include collaborations with industry giants like Genentech, ExxonMobil, and Dow. These partnerships leverage C3 AI's capabilities to enhance operational efficiencies, predictive maintenance, and data-driven decision-making.
Financially, C3.ai has demonstrated robust growth. For the fiscal year 2024, the company reported a 16% year-over-year revenue increase to $310.6 million, with subscription revenue growing 21% to $278.1 million. The company's strategic focus on expanding its federal business has paid off, with federal revenue more than doubling in FY24. Additionally, C3 AI has maintained a strong cash reserve of $750.4 million, positioning it well for future growth.
C3.ai continues to innovate and lead in the AI space with the introduction of products like C3 Generative AI. The company’s commitment to driving digital transformation is evident in its expansive pilot programs and growing partner network, which includes collaborations with AWS, Google Cloud, and Microsoft Azure. C3.ai’s fifth annual AI conference, C3 Transform, exemplifies its thought leadership, bringing together global experts to discuss the future of AI in business.
C3.ai (NYSE:AI) has secured a five-year Production-Other Transaction Agreement with the U.S. Department of Defense (DoD). This partnership allows accelerated acquisition of C3 AI’s Enterprise AI products, enabling the DoD to enhance its modeling and simulation capabilities across multiple agencies. The agreement aims to bolster the DoD's AI capabilities to counter emerging threats. CEO Thomas M. Siebel expressed enthusiasm for this milestone, emphasizing the significance of the agreement in advancing operations and sustainment initiatives within the federal government.
C3.ai reported a strong fiscal second quarter ending October 31, 2021, with revenue of $58.3 million, a 41% year-over-year increase, exceeding guidance. The company raised its full-year revenue growth forecast to 35%-37% from 17%. Subscription revenue rose 32% to $47.4 million. C3.ai expanded its strategic partnership with Baker Hughes, increasing contract value by $45 million to $495 million. RPO grew substantially, with GAAP RPO at $465.5 million. Despite a net loss per share of $(0.55), results surpassed expectations. C3.ai continues to diversify its customer base and industry footprint.
C3 AI (NYSE: AI), a leader in Enterprise AI application software, announced participation in two upcoming investor conferences. The first presentation at KeyBanc Summit @ AWS Re:Invent is slated for November 29, 2021, at 1:00 PM Pacific Time. The second presentation at the 5th Annual Wells Fargo TMT Summit is scheduled for December 2, 2021, at 10:20 AM Pacific Time. Live webcasts of both events will be available on the company's investor relations page, with replays accessible for 90 days.
C3 AI (NYSE: AI) will release its financial results for the second quarter of fiscal year 2022 on December 1, 2021, after U.S. markets close. The results will cover the period ending October 31, 2021. A conference call will be held at 2:00 PM PT / 5:00 PM ET on the same day to discuss these results. Investors can access the call via the C3 AI Investor Relations website or by dialing in using the provided participant numbers. This provides an opportunity for stakeholders to gain insights into the company's financial performance.
C3 AI and Shell have expanded the Open AI Energy Initiative (OAI) with Kongsberg Digital and MathWorks joining as independent software vendors. This initiative aims to integrate artificial intelligence solutions to transform the energy industry. Kongsberg Digital will offer the Kognitwin Energy, enhancing operational efficiency, while MathWorks will provide MATLAB Production Server for analytics and optimization. Solutions are expected to roll out in 2022, focusing on cleaner energy and compliance monitoring.
C3 AI and Shell have unveiled three new artificial intelligence products through the Open AI Initiative aimed at enhancing efficiency in the energy sector. These products include the Shell Process Optimiser for LNG, which improves asset production; the Shell Corrosion Advanced Risk Modelling and Analytics, which predicts corrosion to reduce maintenance costs; and the Shell Autonomous Integrity Recognition, enhancing inspection processes. These tools aim to accelerate the adoption of AI solutions in energy operations.
C3 AI (NYSE: AI) will present at the Bank of America Digital Energy Forum on September 30, 2021, at 8:30 a.m. Eastern Time. Interested parties can access the live webcast through ir.c3.ai, with a replay available for 90 days post-event. C3 AI specializes in Enterprise AI application software, offering comprehensive solutions for digital transformation across industries. Their products include the C3 AI Suite and industry-specific SaaS applications designed for AI and machine learning.
C3 AI (NYSE:AI) has launched C3 AI Data Vision, an AI-powered knowledge graph tool designed to enhance data analysis and visualization within enterprise software. This new capability allows organizations to conduct near real-time investigations, visualize complex data interdependencies, and efficiently analyze relationships across multiple data sources. CEO Thomas M. Siebel emphasized that this innovation represents a significant advancement in user interface design for enterprise software, moving away from outdated workflows.
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