C3.ai, Inc. AI
C3 AI is the Enterprise AI application software company. C3 AI delivers a family of fully integrated products including the C3 Agentic AI Platform, an end-to-end platform for developing, deploying, and operating Enterprise AI applications; C3 AI Applications, a portfolio of industry-specific Enterprise AI applications that enable the digital transformation of organizations globally; and C3 Generative AI, a library of agentic AI applications to retrieve data, analyze information, surface insights, and orchestrate workflows to drive business value.
The C3 Agentic AI Platform and C3 AI Applications — built with our patented model-driven architecture — enable organizations to simplify and accelerate Enterprise AI application development, deployment, and administration. Our C3 AI software platform also enables developers to rapidly build applications without having to write complex, lengthy, structured programming code to define, control, and integrate the many requisite data and microservices components to work together; we significantly reduce the effort and complexity of the Enterprise AI software engineering problem.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $250.3M | $389.1M | $310.6M | $266.8M | $252.8M | $183.2M | $156.7M | $91.6M | — |
| Cost of revenue | $172.9M | $153.2M | $132.0M | $86.3M | $63.7M | $44.5M | $38.8M | $30.4M | — |
| Gross profit | $77.4M | $235.9M | $178.6M | $180.5M | $189.0M | $138.7M | $117.9M | $61.2M | — |
| R&D | $229.1M | $226.4M | $201.4M | $210.7M | $150.5M | $68.9M | $64.5M | $37.3M | — |
| SG&A | $98.6M | $94.2M | $81.4M | $77.2M | $61.0M | $33.1M | $29.9M | $22.1M | — |
| Total operating expenses | $575.9M | $560.3M | $496.9M | $471.0M | $385.2M | $199.0M | $189.4M | $97.3M | — |
| Operating income | -$498.5M | -$324.4M | -$318.3M | -$290.5M | -$196.1M | -$60.3M | -$71.5M | -$36.0M | — |
| Pre-tax income | -$469.5M | -$287.7M | -$278.9M | -$268.2M | -$191.3M | -$55.0M | -$69.0M | -$33.1M | — |
| Income tax | $822.0K | $976.0K | $792.0K | $675.0K | $789.0K | $704.0K | $380.0K | $266.0K | — |
| Net income | -$470.4M | -$288.7M | -$279.7M | -$268.8M | -$192.1M | -$55.7M | -$69.4M | -$33.3M | — |
| EPS, basic | -3.35 | -2.24 | -2.34 | -2.45 | -1.84 | — | — | — | — |
| EPS, diluted | -3.35 | -2.24 | -2.34 | -2.45 | -1.84 | — | — | — | — |
| Shares, diluted (wtd. avg.) | $140.5M | $129.1M | $119.4M | $109.9M | $104.4M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $66.2M | $164.4M | $167.1M | $297.4M | $352.5M | $116.3M | $33.6M | $99.1M | $175.7M |
| Short-term investments | $509.3M | $578.3M | $583.2M | $446.2M | $620.6M | $978.0M | $211.9M | — | — |
| Receivables | $100.5M | $137.2M | $130.1M | $134.6M | $80.3M | $65.5M | $30.8M | — | — |
| Total current assets | $708.0M | $904.3M | $904.4M | $888.9M | $1.06B | $1.17B | $281.2M | — | — |
| Property, plant and equipment | $66.9M | $79.3M | $88.6M | $84.6M | $14.5M | $6.1M | $8.7M | — | — |
| Goodwill | $625.0K | $625.0K | $625.0K | $625.0K | $625.0K | $625.0K | $625.0K | — | — |
| Total assets | $816.3M | $1.03B | $1.04B | $1.10B | $1.17B | $1.20B | $305.1M | — | — |
| Accounts payable | $5.5M | $15.2M | $11.3M | $24.6M | $54.2M | $12.1M | $4.7M | — | — |
| Total current liabilities | $106.6M | $131.9M | $102.3M | $136.0M | $150.2M | $124.5M | $81.0M | — | — |
| Total liabilities | $162.5M | $187.6M | $164.9M | $173.4M | $181.4M | $135.3M | $93.8M | — | — |
| Retained earnings | -$1.85B | -$1.38B | -$1.09B | -$810.2M | -$541.4M | -$349.3M | -$293.6M | — | — |
| Total equity | $653.8M | $838.3M | $873.4M | $929.7M | $989.5M | $1.06B | -$182.7M | -$165.4M | -$139.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$190.2M | -$41.4M | -$62.4M | -$115.7M | -$86.5M | -$37.6M | -$61.3M | -$34.9M | — |
| Depreciation and amortisation | $13.6M | $12.6M | $12.7M | $6.1M | $5.2M | $4.3M | $1.3M | $550.0K | — |
| Stock-based compensation | $263.7M | $231.0M | $215.8M | $216.5M | $113.4M | $21.7M | $8.3M | $4.3M | — |
| Capital expenditure | $1.9M | $3.0M | $25.3M | $70.5M | $3.8M | $1.6M | $2.3M | $6.8M | — |
| Investing cash flow | $75.1M | $16.4M | -$66.6M | $59.9M | $317.0M | -$767.2M | -$124.1M | -$96.2M | — |
| Financing cash flow | $17.0M | $22.2M | $11.3M | $621.0K | $5.7M | $887.4M | $119.9M | $54.5M | — |
| Buybacks | — | — | $0 | $0 | $15.0M | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001577526-26-000110.
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