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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) announced it will release its fourth quarter and full year fiscal 2021 financial results on June 2, 2021, after U.S. market close. A conference call is scheduled for 2:00 p.m. PT / 5:00 p.m. ET on the same day to discuss these results. Investors can join the live webcast on the C3 AI Investor Relations website or via dial-in. C3 AI specializes in enterprise AI software aimed at enhancing digital transformation across industries, offering a comprehensive suite of products and solutions.
C3 AI (NYSE: AI), a leader in enterprise AI software, is set to present at several upcoming financial community events. These include the NYSE Tech Summit on May 11, 2021, the JP Morgan 49th Annual Technology, Media & Communications Conference on May 24, 2021, and the 2021 Bank of America Global Technology Conference on June 8, 2021. Live webcasts of the presentations will be available at ir.c3.ai, with replays accessible for 90 days post-event.
C3 AI (NYSE: AI) has entered into a multi-year agreement with Yokogawa Electric Corporation (TOKYO: 6841) to integrate the C3 AI Suite into Yokogawa's software portfolio. This collaboration aims to enhance AI applications and support Yokogawa's digital transformation strategies across various industries, including power generation and oil & gas. Both companies anticipate that this partnership will boost operational efficiency and create new business opportunities. Moreover, this agreement allows C3 AI to establish a direct presence in Japan.
C3 AI (NYSE: AI) announced its President and Chief Product Officer, Houman Behzadi, will present at the FIS Securities, Derivatives and Tax Processing Virtual Event on March 9, 2021. Mr. Behzadi will be part of a Thought Leadership panel discussing the role of advanced technology, including machine learning and artificial intelligence, in capital markets. The event is scheduled from 8:55 to 10:00 AM EST. For more information, visit the event link.
C3 AI (NYSE: AI) and Infor have formed a strategic alliance aimed at enhancing enterprise-class AI solutions. This partnership will allow Infor to utilize C3 AI's prebuilt solutions, focusing initially on predictive maintenance for IoT systems within Infor's Enterprise Asset Management. The collaboration seeks to leverage both companies' digital portfolios to create industry-specific AI applications, improving operational processes and customer satisfaction. Infor's capabilities combined with C3 AI's expertise are expected to accelerate the deployment of scalable AI solutions.
Baker Hughes (NYSE: BKR) and C3 AI (NYSE: AI) have launched the BHC3™ Production Schedule Optimization (PSO), an AI application aimed at enhancing industrial demand planning and manufacturing scheduling. This tool improves supply chain performance and reduces costs for engineered products by generating precise demand forecasts and production schedules. The PSO integrates multiple inputs to optimize manufacturing processes and has already shown a 20% improvement in demand forecasting accuracy during trials with clients in the oil and gas sector.
Baker Hughes and C3 AI have introduced the BHC3™ Production Schedule Optimization (PSO), an AI application aimed at enhancing industrial demand planning and scheduling in manufacturing. This tool optimizes supply chains by accurately forecasting demand and creating optimal production schedules. It integrates various inputs such as market prices and customer orders, demonstrating a 20% improvement in forecasting accuracy during trials with a hydrocarbon processing company. BHC3 PSO supports diverse manufacturing processes, aiming to reduce costs and improve productivity across industrial sectors.
C3.ai, a leader in enterprise AI applications, reported fiscal Q3 2021 results with total revenue of $49.1 million, up 19% year-over-year. Subscription revenue increased 23% to $42.7 million, now comprising 87% of total revenue. Professional services revenue saw a 4% decline to $6.4 million. Gross margin improved to 75%, while loss from operations rose to $18.5 million. The company expanded its partnerships and product offerings, enhancing its market position in AI software. For Q4, it anticipates revenue between $50.0 million and $51.0 million.
C3 AI (NYSE: AI) has appointed Jim H. Snabe, former co-CEO of SAP, to its Board of Directors. Snabe has over three decades of experience in the tech industry and is currently Chairman of Siemens AG and A.P. Møller – Mærsk A/S. CEO Thomas M. Siebel expressed confidence that Snabe's leadership skills will further strengthen the board. Snabe highlighted C3 AI's model-driven AI platform as a potential standard for intelligent enterprises, emphasizing the company's achievements in delivering social and economic value through innovative technology.
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