C3.AI INC Reports Record Earnings for Fiscal Year 2024’s First Quarter
September 8, 2023
🌥️Earnings Overview
On September 6 2023, C3.AI INC ($NYSE:AI) reported its earnings results for the fiscal year 2024’s first quarter, which ended on July 31 2023. The total revenue for the quarter came to USD 72.4 million, a 10.8% increase from the previous year. Sadly, however, net income for the quarter was USD -64.4 million, a decrease from the prior year’s figure of -71.9 million.
Stock Price
The company’s stock opened at $32.0 and closed at $31.5, up by 0.1% from the prior closing price of $31.4. The company has experienced strong growth and success over the past three years due to its innovative AI-driven technology offerings. C3.AI INC offers a suite of cloud computing solutions and services, designed to empower businesses to leverage intelligent insights and predictive analytics to drive superior outcomes. The company’s products have been well received by customers and partners alike, and have been instrumental in helping them achieve their business goals. C3.AI INC has also announced plans to expand their product portfolio with additional AI powered solutions, further enhancing their ability to provide customers with a comprehensive suite of AI-based solutions.
The company’s strong financial performance for the first quarter of fiscal year 2024 is indicative of their continued success and strong future prospects. Investors are optimistic about the future of C3.AI INC and are confident that the company will continue to grow and generate value for shareholders in the years ahead. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for C3.ai Inc. More…
| Total Revenues | Net Income | Net Margin |
| 273.85 | -261.33 | -95.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for C3.ai Inc. More…
| Operations | Investing | Financing |
| -73.5 | 55.62 | 2.01 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for C3.ai Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.09k | 156.96 | 7.9 |
Key Ratios Snapshot
Some of the financial key ratios for C3.ai Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.1% | – | -106.4% |
| FCF Margin | ROE | ROA |
| -51.6% | -19.6% | -16.7% |
Analysis
As part of GoodWhale’s financial analysis of C3.AI INC, our Risk Rating determined that the company is a medium risk investment in terms of its financial and business aspects. Our analysis revealed two risk warnings on the balance sheet and cashflow statement that potential investors should be aware of. To gain access to more detailed information on the company’s financials, become a registered user of GoodWhale and get an in-depth look at C3.AI INC’s finances. More…
Peers
The company was founded in 2009 by Tom Siebel, a veteran of the software industry. C3.ai’s primary competitors are Microsoft Corp, Salesforce Inc, and Palantir Technologies Inc.
– Microsoft Corp ($NASDAQ:MSFT)
Microsoft Corporation is an American multinational technology company with a market cap of $1.73 trillion as of 2022. It specializes in developing and manufacturing consumer electronics, computer software, and personal computers. The company’s Return on Equity (ROE) is 31.9%. Microsoft has been one of the world’s largest companies by market cap since the early 1990s.
– Salesforce Inc ($NYSE:CRM)
Salesforce is a cloud-based customer relationship management platform. The company’s market cap is $162.59 billion as of 2022, and its return on equity is 0.08%. Salesforce was founded in 1999 and is headquartered in San Francisco, California. The company provides customer relationship management (CRM) software to businesses of all sizes.
– Palantir Technologies Inc ($NYSE:PLTR)
Palantir Technologies Inc is a data mining and analytics company that provides software to help organizations make better decisions. The company has a market cap of 18.14B as of 2022 and a return on equity of -13.19%. Palantir’s software is used by a variety of organizations, including the US government, law enforcement, and private companies. The company has come under scrutiny for its role in helping the US government track and target terrorists.
Summary
C3.AI INC reported its first quarter financial results for FY2024, with total revenue growing by 10.8% year-over-year to USD 72.4 million. While this was an encouraging sign of increased sales, the company saw their net income decrease to USD -64.4 million compared to the previous year’s -71.9 million. Investors should closely monitor C3.AI INC’s future financial performance to gauge whether the company is capable of achieving sustainable growth and profitability. Similarly, they should assess the competitive landscape and technological developments to get a better understanding of the business prospects.
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