C3.ai Exceeds Q4 Expectations, Raises FY25 Revenue Guidance, Stock Rises 12.7%

May 29, 2024, 08:10 PM

C3.ai reported its Q4 earnings, significantly surpassing expectations with an adjusted EPS loss of $0.11 compared to the estimated loss of $0.30. The company also reported sales of $86.6 million, exceeding the estimated $84.395 million. C3.ai provided an optimistic outlook for FY25, projecting revenues between $370 million and $395 million, above the consensus of $367.70 million. The company also guided Q1 revenues in-line with expectations. C3.ai highlighted increasing demand for its enterprise AI solutions and noted a 41% year-over-year increase in federal subscription revenue for the fourth quarter. This marks the fifth consecutive quarter of revenue growth. CEO Thomas Siebel emphasized the strong quarter and the growing interest in their generative AI applications. Following the earnings report, C3.ai's stock rose 12.7% in after-hours trading.