C3.ai Beats Q4 Estimates, Raises FY25 Revenue Guidance, Stock Up 12.7%

May 29, 2024, 08:11 PM

C3.ai reported its Q4 earnings, surpassing both earnings and revenue estimates. The company posted an adjusted EPS loss of $0.11, significantly better than the estimated loss of $0.30. Revenue for the quarter reached $86.6 million, exceeding the expected $84.395 million and marking a 20% increase from the previous year's $72.4 million. Subscription revenue also saw a substantial rise, increasing by 41% year-over-year to $79.9 million. The GAAP net loss per share was $0.59. The company provided an optimistic outlook for FY25, projecting revenues between $370 million and $395 million, above the FactSet consensus of $367.70 million. C3.ai also guided Q1 revenues in-line with expectations. CEO Thomas Siebel highlighted the strong demand for Enterprise AI and the growing interest in generative AI applications. The company reported positive free cash flow of $18.8 million. Following the earnings report, C3.ai's stock rose by 12.7% in after-hours trading.