Enterprise AI software company C3.ai Inc (NYSE:AI) announced fourth-quarter financial results after the market close Wednesday.
Here are the key highlights.
What Happened: The company reported fourth-quarter revenue of $86.6 million, up 20% year-over-year. The revenue beat a Street consensus estimate of $84.4 million, according to data from Benzinga Pro.
Subscription revenue totaled $79.9 million in the first quarter, up 41% year-over-year.
The company reported a loss of 11 cents per share, beating a Street consensus estimate of a loss of 30 cents per share.
The company closed 47 agreements in the fourth quarter, including 34 new pilots.
"We finished a strong quarter and closed out a huge year for C3 AI. This was our fifth consecutive quarter of accelerating revenue growth," CE AI CEO Thomas Siebel said.
"Demand for Enterprise AI is intensifying, and our first to market advantage in Enterprise AI positions us well to capitalize on it."
Full-year revenue of $310.6 million was up 16% year-over-year.
The company ended the fiscal year with $750.4 million in cash and cash equivalents.
In the full fiscal year, the company closed 191 agreements including 123 pilots, up 52% and 151%, respectively, on a year-over-year basis.
The company highlighted the growth of its federal segment, with revenue more than doubling for the full fiscal year across the segment. C3.ai said it closed 65 federal agreements in the full fiscal year, up 48% year-over-year.
C3 Generative AI is also expanding into new verticals and helping the company diversify, according to the report. The segment closed 58 pilot agreements in the full fiscal year.
Related Link: C3.ai Stock Soars On Q3 Results – Here’s Why
What's Next: Siebel highlighted the company's Enterprise AI applications being adopted across 19 industries, showing market diversity.
The C3.ai CEO also highlighted the federal segment’s revenue rising more than 100% year-over-year.
"The interest we are seeing in our generative AI applications is staggering," Siebel said.
C3.ai is guiding for first-quarter revenue in a range of $84 million to $89 million versus a Street consensus estimate of $85.9 million.
For the full year fiscal 2025, C3.ai expects revenue in a range of $370 million to $395 million versus a Street consensus estimate of $367.5 million.
"We are expecting additional acceleration of C3 AI revenue growth to approximately 23% in FY25. We plan to continue to invest in growth to build a long-term cash generating profitable market leader in Enterprise AI," the company said.
AI Price Action: C3.ai shares are up 9% to $26.16 in after-hours trading Wednesday versus a 52-week trading range of $20.23 to $48.87.
Read Next: C3.Ai To Gain From Unprecedented AI Demand, Analyst Sees Over 30% Growth
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