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C3.ai (AI) Financials

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$18.06 -1.21 (-6.28%)
Closing price 03:59 PM Eastern
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$17.96 -0.09 (-0.53%)
As of 07:44 PM Eastern
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Annual Income Statements for C3.ai

Annual Income Statements for C3.ai

This table shows C3.ai's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024
Period end date 4/30/2019 4/30/2020 4/30/2021 4/30/2022 4/30/2023 4/30/2024
Net Income / (Loss) Attributable to Common Shareholders
-33 -69 -56 -192 -269 -280
Consolidated Net Income / (Loss)
-33 -69 -56 -192 -269 -280
Net Income / (Loss) Continuing Operations
-33 -69 -56 -192 -269 -280
Total Pre-Tax Income
-33 -69 -55 -191 -268 -279
Total Operating Income
-36 -71 -60 -196 -290 -318
Total Gross Profit
61 118 139 189 180 179
Total Revenue
92 157 183 253 267 311
Operating Revenue
92 157 183 253 267 311
Total Cost of Revenue
30 39 45 64 86 132
Operating Cost of Revenue
30 39 45 64 86 132
Total Operating Expenses
97 189 199 385 471 497
Selling, General & Admin Expense
22 30 33 61 77 81
Marketing Expense
38 95 97 174 183 214
Research & Development Expense
37 65 69 151 211 201
Total Other Income / (Expense), net
2.96 2.50 5.27 4.85 22 39
Interest & Investment Income
3.51 4.25 1.26 1.83 22 40
Other Income / (Expense), net
-0.55 -1.75 4.01 3.02 0.35 -0.64
Income Tax Expense
0.27 0.38 0.70 0.79 0.68 0.79
Basic Earnings per Share
($2.64) ($1.94) $0.00 ($1.84) ($2.45) ($2.34)
Weighted Average Basic Shares Outstanding
0.00 35.80M 66.85M 104.40M 109.85M 119.36M
Diluted Earnings per Share
($2.64) ($1.94) $0.00 ($1.84) ($2.45) ($2.34)
Weighted Average Diluted Shares Outstanding
0.00 35.80M 66.85M 104.40M 109.85M 119.36M
Weighted Average Basic & Diluted Shares Outstanding
25.33M 0.00 3.50M 107.15M 115.61M 124.82M

Quarterly Income Statements for C3.ai

This table shows C3.ai's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 7/31/2022 10/31/2022 1/31/2023 4/30/2023 7/31/2023 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025
Net Income / (Loss) Attributable to Common Shareholders
-72 -69 -63 -65 -64 -70 -73 -73 -63 -66 -80
Consolidated Net Income / (Loss)
-72 -69 -63 -65 -64 -70 -73 -73 -63 -66 -80
Net Income / (Loss) Continuing Operations
-72 -69 -63 -65 -64 -70 -73 -73 -63 -66 -80
Total Pre-Tax Income
-72 -69 -63 -65 -64 -70 -72 -73 -63 -66 -80
Total Operating Income
-73 -72 -72 -73 -74 -79 -83 -82 -73 -75 -88
Total Gross Profit
47 42 44 48 41 41 45 52 52 58 58
Total Revenue
65 62 67 72 72 73 78 87 87 94 99
Operating Revenue
65 62 67 72 72 73 78 87 87 94 99
Total Cost of Revenue
18 21 22 25 32 32 33 35 35 36 40
Operating Cost of Revenue
18 21 22 25 32 32 33 35 35 36 40
Total Operating Expenses
120 114 116 121 115 121 128 134 125 133 146
Selling, General & Admin Expense
21 19 18 19 20 20 21 20 20 22 25
Marketing Expense
43 45 43 52 44 50 57 63 52 56 61
Research & Development Expense
56 50 55 50 51 50 49 51 53 56 59
Total Other Income / (Expense), net
1.52 3.28 9.02 8.51 9.88 9.84 10 9.31 10 9.57 7.72
Interest & Investment Income
2.54 4.22 6.99 8.23 10 10 10.00 9.48 10 9.56 8.68
Other Income / (Expense), net
-1.02 -0.95 2.03 0.28 -0.24 -0.64 0.41 -0.17 0.03 0.01 -0.96
Income Tax Expense
0.18 0.16 0.14 0.19 0.15 0.23 0.49 -0.07 0.27 0.26 0.34
Basic Earnings per Share
($0.67) ($0.63) ($0.57) ($0.58) ($0.56) ($0.59) ($0.60) ($0.59) ($0.50) ($0.52) ($0.62)
Weighted Average Basic Shares Outstanding
106.84M 108.88M 110.74M 109.85M 115.68M 118.66M 120.49M 119.36M 124.98M 127.87M 130.38M
Diluted Earnings per Share
($0.67) ($0.63) ($0.57) ($0.58) ($0.56) ($0.59) ($0.60) ($0.59) ($0.50) ($0.52) ($0.62)
Weighted Average Diluted Shares Outstanding
106.84M 108.88M 110.74M 109.85M 115.68M 118.66M 120.49M 119.36M 124.98M 127.87M 130.38M
Weighted Average Basic & Diluted Shares Outstanding
108.48M 110.25M 112.21M 115.61M 118.20M 119.87M 122.05M 124.82M 127.03M 129.07M 132.74M

Annual Cash Flow Statements for C3.ai

This table details how cash moves in and out of C3.ai's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024
Period end date 4/30/2019 4/30/2020 4/30/2021 4/30/2022 4/30/2023 4/30/2024
Net Change in Cash & Equivalents
-77 -66 83 236 -55 -118
Net Cash From Operating Activities
-35 -61 -38 -86 -116 -62
Net Cash From Continuing Operating Activities
-35 -61 -38 -86 -116 -62
Net Income / (Loss) Continuing Operations
-33 -69 -56 -192 -269 -280
Consolidated Net Income / (Loss)
-33 -69 -56 -192 -269 -280
Depreciation Expense
0.55 1.30 4.30 5.19 6.09 13
Amortization Expense
- - - 1.77 -4.56 -17
Non-Cash Adjustments To Reconcile Net Income
4.80 8.56 25 117 224 217
Changes in Operating Assets and Liabilities, net
-6.88 -1.76 -11 -19 -72 5.23
Net Cash From Investing Activities
-96 -124 -767 317 60 -67
Net Cash From Continuing Investing Activities
-96 -124 -767 317 60 -67
Purchase of Property, Plant & Equipment
-6.81 -2.88 -1.63 -4.29 -72 -28
Purchase of Investments
-166 -220 -1,152 -796 -745 -828
Sale and/or Maturity of Investments
77 99 386 1,118 877 789
Net Cash From Financing Activities
54 120 887 5.71 0.62 11
Net Cash From Continuing Financing Activities
54 120 887 5.71 0.62 11
Repurchase of Common Equity
0.00 - 0.00 -15 0.00 0.00
Issuance of Common Equity
0.26 44 0.00 0.00 3.09 11
Other Financing Activities, net
2.91 4.20 9.49 21 -2.47 0.53
Cash Income Taxes Paid
0.13 0.66 0.55 0.94 0.58 0.98

Quarterly Cash Flow Statements for C3.ai

This table details how cash moves in and out of C3.ai's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 7/31/2022 10/31/2022 1/31/2023 4/30/2023 7/31/2023 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025
Net Change in Cash & Equivalents
-118 56 33 -26 -78 -57 -34 53 -33 -13 3.82
Net Cash From Operating Activities
-38 -53 -52 27 3.94 -49 -39 21 8.04 -39 -22
Net Cash From Continuing Operating Activities
-38 -53 -52 27 3.94 -49 -39 21 8.04 -39 -22
Net Income / (Loss) Continuing Operations
-72 -69 -63 -65 -64 -70 -73 -73 -63 -66 -80
Consolidated Net Income / (Loss)
-72 -69 -63 -65 -64 -70 -73 -73 -63 -66 -80
Depreciation Expense
1.46 0.95 0.84 2.83 3.06 3.16 3.25 3.25 3.12 2.97 3.12
Amortization Expense
1.86 -2.44 -1.41 -2.57 -3.97 -4.78 -4.48 -3.98 -3.85 -3.77 -3.10
Non-Cash Adjustments To Reconcile Net Income
57 57 61 49 51 53 55 57 55 58 64
Changes in Operating Assets and Liabilities, net
-26 -39 -49 42 18 -31 -20 38 17 -29 -6.30
Net Cash From Investing Activities
-80 111 86 -56 -85 -12 4.10 26 -42 23 12
Net Cash From Continuing Investing Activities
-80 111 86 -56 -85 -12 4.10 26 -42 23 12
Purchase of Property, Plant & Equipment
-17 -24 -20 -11 -13 -6.54 -6.09 -2.54 -0.92 -0.82 -0.36
Purchase of Investments
-226 -158 -113 -248 -323 -167 -168 -170 -231 -135 -153
Sale and/or Maturity of Investments
162 293 219 202 251 162 178 199 190 158 166
Net Cash From Financing Activities
1.09 -2.68 -0.86 3.07 2.48 3.06 0.51 5.26 0.18 3.51 13
Net Cash From Continuing Financing Activities
1.09 -2.68 -0.86 3.07 2.48 3.06 0.51 5.26 0.18 3.51 13
Other Financing Activities, net
1.09 -2.68 -0.86 -0.02 2.48 -2.00 0.51 -0.45 0.18 -1.50 13
Cash Income Taxes Paid
0.07 0.07 0.08 0.36 0.15 0.13 0.48 0.22 0.29 0.24 0.21

Annual Balance Sheets for C3.ai

This table presents C3.ai's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024
Period end date 4/30/2020 4/30/2021 4/30/2022 4/30/2023 4/30/2024
Total Assets
305 1,196 1,171 1,103 1,038
Total Current Assets
281 1,173 1,060 889 904
Cash & Equivalents
33 115 340 285 167
Short-Term Investments
212 978 621 446 583
Accounts Receivable
31 65 80 135 130
Prepaid Expenses
5.40 14 20 23 24
Plant, Property, & Equipment, net
8.72 6.13 15 85 89
Total Noncurrent Assets
15 17 96 130 45
Goodwill
0.63 0.63 0.63 0.63 0.63
Other Noncurrent Operating Assets
14 17 63 48 45
Total Liabilities & Shareholders' Equity
305 1,196 1,171 1,103 1,038
Total Liabilities
94 135 181 173 165
Total Current Liabilities
81 124 150 136 102
Accounts Payable
4.73 12 54 25 11
Accrued Expenses
9.08 18 15 17 9.53
Current Deferred Revenue
54 72 49 48 37
Current Employee Benefit Liabilities
14 22 32 47 44
Total Noncurrent Liabilities
13 11 31 37 63
Noncurrent Deferred Revenue
6.76 2.96 0.29 0.00 1.73
Other Noncurrent Operating Liabilities
6.00 7.85 31 37 61
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
-183 1,061 989 930 873
Total Preferred & Common Equity
-183 1,061 989 930 873
Total Common Equity
-183 1,061 989 930 873
Common Stock
111 1,410 1,533 1,740 1,964
Retained Earnings
-294 -349 -541 -810 -1,090
Accumulated Other Comprehensive Income / (Loss)
0.42 0.08 -2.15 -0.39 -0.56

Quarterly Balance Sheets for C3.ai

This table presents C3.ai's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 1/31/2022 7/31/2022 10/31/2022 1/31/2023 7/31/2023 10/31/2023 1/31/2024 7/31/2024 10/31/2024 1/31/2025
Total Assets
1,188 1,137 1,101 1,095 1,089 1,071 1,064 1,058 1,046 1,055
Total Current Assets
1,063 1,007 960 947 895 931 926 926 918 931
Cash & Equivalents
205 222 278 311 206 149 115 134 121 125
Short-Term Investments
764 685 562 461 544 613 609 629 609 599
Accounts Receivable
68 81 95 144 123 143 173 140 160 180
Prepaid Expenses
26 18 25 30 21 26 29 24 27 26
Plant, Property, & Equipment, net
5.30 39 62 75 89 93 91 86 84 82
Total Noncurrent Assets
120 92 79 74 106 47 47 45 44 42
Goodwill
0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63 0.63
Other Noncurrent Operating Assets
65 60 60 56 47 47 46 44 44 42
Total Liabilities & Shareholders' Equity
1,188 1,137 1,101 1,095 1,089 1,071 1,064 1,058 1,046 1,055
Total Liabilities
161 158 147 148 157 160 166 183 187 195
Total Current Liabilities
129 131 119 124 111 114 109 118 122 138
Accounts Payable
14 41 31 20 27 26 20 32 21 29
Accrued Expenses
34 18 20 25 10 10 12 13 24 28
Current Deferred Revenue
59 44 30 39 41 40 39 40 36 33
Current Employee Benefit Liabilities
23 29 38 40 32 38 38 34 42 49
Total Noncurrent Liabilities
32 27 29 24 46 46 57 65 65 57
Noncurrent Deferred Revenue
0.92 0.02 0.23 0.05 0.02 0.07 2.18 0.72 0.13 0.00
Other Noncurrent Operating Liabilities
31 27 29 24 46 46 55 64 65 57
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
1,027 979 953 947 932 911 898 875 859 860
Total Preferred & Common Equity
1,027 979 953 947 932 911 898 875 859 860
Total Common Equity
1,027 979 953 947 932 911 898 875 859 860
Common Stock
1,510 1,595 1,638 1,694 1,808 1,856 1,915 2,027 2,077 2,159
Retained Earnings
-483 -613 -682 -745 -875 -944 -1,017 -1,153 -1,219 -1,299
Accumulated Other Comprehensive Income / (Loss)
-0.80 -2.35 -2.81 -1.04 -0.76 -0.78 0.43 0.28 0.52 0.29

Annual Metrics And Ratios for C3.ai

This table displays calculated financial ratios and metrics derived from C3.ai's official financial filings.

Metric 2019 2020 2021 2022 2023 2024
Period end date 4/30/2019 4/30/2020 4/30/2021 4/30/2022 4/30/2023 4/30/2024
Growth Metrics
- - - - - -
Revenue Growth
0.00% 71.02% 16.95% 37.96% 5.55% 16.41%
EBITDA Growth
0.00% -99.64% 27.79% -258.32% -55.04% -12.08%
EBIT Growth
0.00% -100.20% 23.21% -243.31% -50.25% -9.94%
NOPAT Growth
0.00% -98.37% 15.72% -225.47% -48.12% -9.59%
Net Income Growth
0.00% -108.05% 19.72% -244.85% -39.97% -4.04%
EPS Growth
0.00% 26.52% 100.00% 0.00% -33.15% 4.49%
Operating Cash Flow Growth
0.00% -75.71% 38.72% -130.24% -33.81% 46.10%
Free Cash Flow Firm Growth
0.00% 0.00% -183.45% -275.71% -93.97% 29.32%
Invested Capital Growth
0.00% 0.00% 6.38% 91.40% 4,333.32% 4.88%
Revenue Q/Q Growth
0.00% 0.00% 0.00% 8.61% 0.03% 4.78%
EBITDA Q/Q Growth
0.00% 0.00% 0.00% -21.41% -6.33% -3.35%
EBIT Q/Q Growth
0.00% 0.00% 0.00% -22.07% -5.08% -3.06%
NOPAT Q/Q Growth
0.00% 0.00% 0.00% -19.95% -6.12% -2.92%
Net Income Q/Q Growth
0.00% 0.00% 0.00% -21.80% -2.49% -2.93%
EPS Q/Q Growth
0.00% 0.00% 0.00% 0.00% -1.66% -0.43%
Operating Cash Flow Q/Q Growth
0.00% 0.00% 6.12% 17.67% 25.79% -10.08%
Free Cash Flow Firm Q/Q Growth
0.00% 0.00% 0.00% 0.00% 6.31% 2.17%
Invested Capital Q/Q Growth
0.00% 0.00% 0.00% -168.77% -25.58% -29.59%
Profitability Metrics
- - - - - -
Gross Margin
66.83% 75.24% 75.70% 74.79% 67.64% 57.49%
EBITDA Margin
-39.34% -45.92% -28.35% -73.65% -108.18% -104.15%
Operating Margin
-39.35% -45.64% -32.89% -77.59% -108.88% -102.50%
EBIT Margin
-39.94% -46.75% -30.70% -76.40% -108.75% -102.70%
Profit (Net Income) Margin
-36.40% -44.28% -30.40% -75.99% -100.77% -90.06%
Tax Burden Percent
100.80% 100.55% 101.28% 100.41% 100.25% 100.28%
Interest Burden Percent
90.41% 94.20% 97.77% 99.05% 92.42% 87.44%
Effective Tax Rate
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)
0.00% 0.00% 0.00% 0.00% -355.21% -185.51%
ROIC Less NNEP Spread (ROIC-NNEP)
0.00% 0.00% 0.00% 0.00% -347.95% -178.23%
Return on Net Nonoperating Assets (RNNOA)
0.00% 0.00% 0.00% 0.00% 327.19% 154.48%
Return on Equity (ROE)
0.00% -32.83% -8.75% -18.73% -28.02% -31.03%
Cash Return on Invested Capital (CROIC)
0.00% 0.00% 0.00% 0.00% -275.77% -190.27%
Operating Return on Assets (OROA)
0.00% -24.01% -7.49% -16.31% -25.52% -29.79%
Return on Assets (ROA)
0.00% -22.74% -7.42% -16.23% -23.65% -26.12%
Return on Common Equity (ROCE)
0.00% 28.39% -6.04% -18.73% -28.02% -31.03%
Return on Equity Simple (ROE_SIMPLE)
0.00% 37.97% -5.25% -19.41% -28.92% -32.03%
Net Operating Profit after Tax (NOPAT)
-25 -50 -42 -137 -203 -223
NOPAT Margin
-27.54% -31.95% -23.02% -54.31% -76.22% -71.75%
Net Nonoperating Expense Percent (NNEP)
0.00% -15.73% -2.02% -5.25% -7.26% -7.28%
Cost of Revenue to Revenue
33.17% 24.76% 24.30% 25.21% 32.36% 42.51%
SG&A Expenses to Revenue
24.08% 19.06% 18.07% 24.15% 28.92% 26.20%
R&D to Revenue
40.74% 41.20% 37.58% 59.56% 78.96% 64.83%
Operating Expenses to Revenue
106.17% 120.88% 108.59% 152.39% 176.52% 159.99%
Earnings before Interest and Taxes (EBIT)
-37 -73 -56 -193 -290 -319
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-36 -72 -52 -186 -289 -323
Valuation Ratios
- - - - - -
Price to Book Value (P/BV)
0.00 0.00 6.30 1.83 2.15 3.15
Price to Tangible Book Value (P/TBV)
0.00 0.00 6.31 1.83 2.15 3.15
Price to Revenue (P/Rev)
7.11 4.16 36.50 7.15 7.49 8.85
Price to Earnings (P/E)
0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)
0.00 0.00 0.00 0.00 10.12 16.26
Enterprise Value to Revenue (EV/Rev)
0.00 5.10 30.53 3.22 4.45 6.44
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency
- - - - - -
Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage
0.00 -1.16 -1.05 -1.02 -0.94 -0.87
Leverage Ratio
0.00 1.44 1.18 1.15 1.18 1.19
Compound Leverage Factor
0.00 1.36 1.15 1.14 1.10 1.04
Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 186.46% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
0.00% -86.46% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score
0.00 3.33 30.30 5.93 6.08 8.75
Noncontrolling Interest Sharing Ratio
0.00% 186.46% 30.96% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - -
Current Ratio
0.00 3.47 9.42 7.06 6.53 8.84
Quick Ratio
0.00 3.40 9.31 6.93 6.36 8.60
Cash Flow Metrics
- - - - - -
Free Cash Flow to Firm (FCFF)
0.00 -16 -44 -167 -323 -229
Operating Cash Flow to CapEx
-512.05% -2,128.55% -2,306.70% -2,014.96% -161.76% -222.67%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - -
Asset Turnover
0.00 0.51 0.24 0.21 0.23 0.29
Accounts Receivable Turnover
0.00 5.08 3.81 3.47 2.48 2.35
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.00 17.96 24.67 24.48 5.38 3.59
Accounts Payable Turnover
0.00 8.21 5.30 1.92 2.19 7.35
Days Sales Outstanding (DSO)
0.00 71.82 95.91 105.22 146.97 155.51
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
0.00 44.47 68.87 189.89 166.63 49.66
Cash Conversion Cycle (CCC)
0.00 27.35 27.04 -84.67 -19.66 105.85
Capital & Investment Metrics
- - - - - -
Invested Capital
0.00 -34 -32 -2.77 117 123
Invested Capital Turnover
0.00 -9.11 -5.50 -14.46 4.66 2.59
Increase / (Decrease) in Invested Capital
0.00 -34 2.19 29 120 5.72
Enterprise Value (EV)
0.00 799 5,594 815 1,187 1,999
Market Capitalization
651 651 6,688 1,807 2,000 2,750
Book Value per Share
$0.00 ($5.10) $10.51 $9.30 $8.29 $7.16
Tangible Book Value per Share
$0.00 ($5.12) $10.51 $9.30 $8.28 $7.15
Total Capital
0.00 211 1,061 989 930 873
Total Debt
0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt
0.00 0.00 0.00 0.00 0.00 0.00
Net Debt
0.00 -246 -1,093 -992 -812 -750
Capital Expenditures (CapEx)
6.81 2.88 1.63 4.29 72 28
Debt-free, Cash-free Net Working Capital (DFCFNWC)
0.00 -45 -45 -50 22 52
Debt-free Net Working Capital (DFNWC)
0.00 200 1,049 910 753 802
Net Working Capital (NWC)
0.00 200 1,049 910 753 802
Net Nonoperating Expense (NNE)
8.12 19 14 55 65 57
Net Nonoperating Obligations (NNO)
0.00 -246 -1,093 -992 -812 -750
Total Depreciation and Amortization (D&A)
0.55 1.30 4.30 6.96 1.53 -4.50
Debt-free, Cash-free Net Working Capital to Revenue
0.00% -28.60% -24.41% -19.74% 8.19% 16.64%
Debt-free Net Working Capital to Revenue
0.00% 127.77% 572.36% 360.13% 282.18% 258.24%
Net Working Capital to Revenue
0.00% 127.77% 572.36% 360.13% 282.18% 258.24%
Earnings Adjustments
- - - - - -
Adjusted Basic Earnings per Share
$0.00 $0.00 ($1.80) ($1.84) ($4.90) ($2.34)
Adjusted Weighted Average Basic Shares Outstanding
0.00 0.00 103.42M 104.40M 109.85M 119.36M
Adjusted Diluted Earnings per Share
$0.00 $0.00 ($1.80) ($1.84) ($4.90) ($2.34)
Adjusted Weighted Average Diluted Shares Outstanding
0.00 0.00 103.42M 104.40M 109.85M 119.36M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 ($1.80) $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 0.00 66.84M 107.15M 115.61M 124.82M
Normalized Net Operating Profit after Tax (NOPAT)
-25 -50 -42 -137 -203 -223
Normalized NOPAT Margin
-27.54% -31.95% -23.02% -54.31% -76.22% -71.75%
Pre Tax Income Margin
-36.11% -44.04% -30.01% -75.68% -100.51% -89.80%
Debt Service Ratios
- - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% 0.00% -7.81% 0.00% 0.00%

Quarterly Metrics And Ratios for C3.ai

This table displays calculated financial ratios and metrics derived from C3.ai's official financial filings.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 7/31/2022 10/31/2022 1/31/2023 4/30/2023 7/31/2023 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
24.62% 7.11% -4.45% 0.13% 10.80% 17.34% 17.60% 19.58% 20.52% 28.83% 26.00%
EBITDA Growth
-95.47% -33.28% -84.41% -26.39% -6.12% -9.74% -18.14% -14.40% 2.60% 6.84% -6.17%
EBIT Growth
-98.39% -27.81% -76.50% -23.77% -0.14% -9.77% -17.33% -12.99% 2.39% 5.95% -7.80%
NOPAT Growth
-100.48% -29.26% -51.96% -29.65% -1.21% -10.32% -14.59% -12.32% 2.03% 5.17% -6.10%
Net Income Growth
-91.87% -21.35% -60.12% -11.19% 10.45% -1.35% -14.99% -12.27% 2.38% 5.46% -10.42%
EPS Growth
-81.08% -14.55% -50.00% -7.41% 16.42% 6.35% -5.26% -1.72% 10.71% 11.86% -3.33%
Operating Cash Flow Growth
-3,843.44% -178.27% 6.36% 305.55% 110.29% 7.60% 24.76% -21.11% 104.32% 20.37% 43.61%
Free Cash Flow Firm Growth
-596.93% 6.69% -136.88% -148.32% 9.06% -24.21% 63.28% 63.03% 69.88% 70.70% 69.98%
Invested Capital Growth
173.94% 68.32% 3,811.64% 4,333.32% 201.03% 57.83% 10.86% 4.88% -8.53% -13.70% -22.23%
Revenue Q/Q Growth
-9.69% -4.44% 6.83% 8.61% -0.07% 1.20% 7.06% 10.45% 0.72% 8.17% 4.71%
EBITDA Q/Q Growth
-23.22% -4.93% 5.15% -3.07% -3.46% -8.51% -2.11% 0.20% 11.92% -3.79% -16.36%
EBIT Q/Q Growth
-25.87% 1.78% 3.98% -4.27% -1.83% -7.67% -2.63% -0.42% 12.03% -3.74% -17.62%
NOPAT Q/Q Growth
-29.52% 1.70% -0.10% -1.72% -1.11% -7.16% -3.97% 0.29% 11.81% -3.72% -16.33%
Net Income Q/Q Growth
-23.02% 4.20% 8.26% -2.84% 0.92% -8.42% -4.09% -0.41% 13.85% -5.01% -21.57%
EPS Q/Q Growth
-24.07% 5.97% 9.52% -1.75% 3.45% -5.36% -1.69% 1.67% 15.25% -4.00% -19.23%
Operating Cash Flow Q/Q Growth
-190.67% -37.45% 1.31% 152.13% -85.45% -1,334.50% 19.63% 154.65% -62.32% -581.14% 43.09%
Free Cash Flow Firm Q/Q Growth
-113.42% 39.77% -129.95% 16.00% 21.84% 17.73% 32.02% 15.43% 36.32% 19.97% 30.34%
Invested Capital Q/Q Growth
1,573.39% 131.32% 66.89% -25.58% 4.77% 21.28% 17.22% -29.59% -8.62% 14.42% 5.65%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
71.82% 66.75% 66.59% 65.60% 56.04% 56.14% 57.76% 59.60% 59.81% 61.31% 59.07%
EBITDA Margin
-108.57% -119.22% -105.85% -100.45% -103.99% -111.50% -106.34% -96.09% -84.04% -80.63% -89.61%
Operating Margin
-112.10% -115.32% -108.05% -101.20% -102.39% -108.42% -105.29% -95.05% -83.23% -79.81% -88.66%
EBIT Margin
-113.66% -116.83% -105.01% -100.81% -102.72% -109.29% -104.77% -95.25% -83.20% -79.79% -89.63%
Profit (Net Income) Margin
-110.05% -110.32% -94.74% -89.71% -88.94% -95.29% -92.64% -84.22% -72.04% -69.93% -81.19%
Tax Burden Percent
100.25% 100.24% 100.23% 100.29% 100.23% 100.32% 100.68% 99.90% 100.43% 100.39% 100.42%
Interest Burden Percent
96.58% 94.21% 90.02% 88.73% 86.38% 86.91% 87.83% 88.50% 86.21% 87.30% 90.20%
Effective Tax Rate
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)
0.00% -289.43% -249.68% -330.15% -239.84% -177.51% -131.50% -172.03% -161.19% -139.48% -146.68%
ROIC Less NNEP Spread (ROIC-NNEP)
0.00% -287.41% -248.27% -328.64% -238.41% -175.76% -129.54% -170.07% -159.66% -137.70% -144.07%
Return on Net Nonoperating Assets (RNNOA)
0.00% 265.56% 227.95% 309.03% 218.00% 152.82% 106.22% 147.41% 138.88% 116.11% 118.62%
Return on Equity (ROE)
-22.39% -23.87% -21.73% -21.12% -21.84% -24.70% -25.28% -24.62% -22.31% -23.37% -28.05%
Cash Return on Invested Capital (CROIC)
-634.55% -282.65% -427.19% -275.77% -349.49% -216.72% -140.64% -190.27% -179.65% -143.01% -118.26%
Operating Return on Assets (OROA)
-25.93% -27.83% -24.54% -23.66% -25.27% -28.65% -28.76% -27.63% -25.22% -26.12% -31.04%
Return on Assets (ROA)
-25.11% -26.28% -22.14% -21.05% -21.88% -24.98% -25.43% -24.43% -21.84% -22.89% -28.12%
Return on Common Equity (ROCE)
-22.39% -23.87% -21.73% -21.12% -21.84% -24.70% -25.28% -24.62% -22.31% -23.37% -28.05%
Return on Equity Simple (ROE_SIMPLE)
-23.13% -25.03% -27.69% 0.00% -28.03% -28.78% -30.26% 0.00% -31.79% -31.94% -32.78%
Net Operating Profit after Tax (NOPAT)
-51 -50 -50 -51 -52 -56 -58 -58 -51 -53 -61
NOPAT Margin
-78.47% -80.72% -75.64% -70.84% -71.67% -75.90% -73.70% -66.54% -58.26% -55.86% -62.07%
Net Nonoperating Expense Percent (NNEP)
-2.02% -2.02% -1.41% -1.51% -1.43% -1.75% -1.96% -1.96% -1.53% -1.78% -2.61%
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - -6.43% - - - -7.13%
Cost of Revenue to Revenue
28.18% 33.25% 33.41% 34.40% 43.96% 43.86% 42.24% 40.40% 40.19% 38.69% 40.93%
SG&A Expenses to Revenue
32.53% 29.86% 26.83% 26.79% 27.49% 27.61% 27.06% 23.16% 22.59% 23.08% 25.69%
R&D to Revenue
85.56% 80.20% 82.57% 68.61% 70.30% 68.82% 63.11% 58.46% 60.69% 59.06% 60.09%
Operating Expenses to Revenue
183.91% 182.06% 174.65% 166.80% 158.43% 164.56% 163.05% 154.66% 143.04% 141.12% 147.73%
Earnings before Interest and Taxes (EBIT)
-74 -73 -70 -73 -74 -80 -82 -82 -73 -75 -89
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
-71 -74 -71 -73 -75 -82 -83 -83 -73 -76 -89
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
2.02 1.49 2.31 2.15 5.21 3.16 3.31 3.15 3.82 3.64 4.70
Price to Tangible Book Value (P/TBV)
2.02 1.49 2.31 2.15 5.21 3.17 3.31 3.15 3.82 3.65 4.71
Price to Revenue (P/Rev)
7.43 5.27 8.21 7.49 17.73 10.13 10.02 8.85 10.26 9.03 11.03
Price to Earnings (P/E)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)
25.35 5.97 8.88 10.12 32.93 14.24 12.86 16.26 22.92 18.65 24.45
Enterprise Value to Revenue (EV/Rev)
3.89 2.09 5.24 4.45 14.78 7.45 7.58 6.44 7.92 6.92 9.05
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage
-1.01 -0.92 -0.92 -0.94 -0.91 -0.87 -0.82 -0.87 -0.87 -0.84 -0.82
Leverage Ratio
1.15 1.14 1.16 1.18 1.16 1.16 1.17 1.19 1.19 1.20 1.21
Compound Leverage Factor
1.11 1.08 1.04 1.05 1.01 1.01 1.03 1.05 1.02 1.04 1.09
Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score
7.67 5.86 8.86 6.73 18.33 10.53 10.34 9.50 10.44 9.40 11.70
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
7.67 8.09 7.66 6.53 8.08 8.16 8.48 8.84 7.86 7.52 6.74
Quick Ratio
7.53 7.88 7.41 6.36 7.89 7.93 8.21 8.60 7.65 7.30 6.55
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-147 -89 -204 -171 -134 -110 -75 -63 -40 -32 -22
Operating Cash Flow to CapEx
-231.36% -215.15% -262.27% 251.64% 30.66% -742.63% -641.55% 840.94% 870.35% -4,747.61% -6,082.87%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.23 0.24 0.23 0.23 0.25 0.26 0.27 0.29 0.30 0.33 0.35
Accounts Receivable Turnover
3.87 4.43 2.52 2.48 2.69 2.39 1.87 2.35 2.48 2.29 2.07
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
11.91 8.06 6.63 5.38 4.29 3.69 3.57 3.59 3.72 3.92 4.24
Accounts Payable Turnover
2.72 3.62 4.57 2.19 2.95 3.94 6.12 7.35 4.62 6.03 6.05
Days Sales Outstanding (DSO)
94.20 82.47 144.97 146.97 135.86 152.52 195.28 155.51 147.29 159.64 175.99
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
134.18 100.77 79.84 166.63 123.75 92.64 59.61 49.66 78.93 60.58 60.33
Cash Conversion Cycle (CCC)
-39.97 -18.30 65.13 -19.66 12.11 59.88 135.67 105.85 68.35 99.06 115.66
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
41 94 158 117 123 149 175 123 112 129 136
Invested Capital Turnover
-36.94 3.59 3.30 4.66 3.35 2.34 1.78 2.59 2.77 2.50 2.36
Increase / (Decrease) in Invested Capital
96 38 154 120 82 55 17 5.72 -10 -20 -39
Enterprise Value (EV)
1,034 563 1,399 1,187 4,046 2,122 2,247 1,999 2,576 2,398 3,322
Market Capitalization
1,973 1,422 2,188 2,000 4,856 2,884 2,970 2,750 3,339 3,129 4,046
Book Value per Share
$9.14 $8.79 $8.59 $8.29 $8.07 $7.71 $7.49 $7.16 $7.01 $6.76 $6.66
Tangible Book Value per Share
$9.13 $8.78 $8.59 $8.28 $8.06 $7.70 $7.49 $7.15 $7.00 $6.76 $6.66
Total Capital
979 953 947 930 932 911 898 873 875 859 860
Total Debt
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt
-938 -859 -790 -812 -810 -762 -723 -750 -763 -730 -724
Capital Expenditures (CapEx)
17 24 20 11 13 6.54 6.09 2.54 0.92 0.82 0.36
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-32 1.34 50 22 33 55 94 52 46 65 69
Debt-free Net Working Capital (DFNWC)
875 841 823 753 784 817 817 802 808 796 793
Net Working Capital (NWC)
875 841 823 753 784 817 817 802 808 796 793
Net Nonoperating Expense (NNE)
21 18 13 14 12 14 15 15 12 13 19
Net Nonoperating Obligations (NNO)
-938 -859 -790 -812 -810 -762 -723 -750 -763 -730 -724
Total Depreciation and Amortization (D&A)
3.32 -1.49 -0.56 0.26 -0.92 -1.62 -1.23 -0.73 -0.73 -0.79 0.03
Debt-free, Cash-free Net Working Capital to Revenue
-12.01% 0.50% 18.92% 8.19% 12.13% 19.20% 31.55% 16.64% 14.12% 18.88% 18.68%
Debt-free Net Working Capital to Revenue
329.51% 311.86% 308.55% 282.18% 286.32% 286.97% 275.59% 258.24% 248.43% 229.64% 216.08%
Net Working Capital to Revenue
329.51% 311.86% 308.55% 282.18% 286.32% 286.97% 275.59% 258.24% 248.43% 229.64% 216.08%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
($0.67) ($0.63) ($0.57) ($0.58) ($0.56) ($0.59) ($0.60) ($0.59) ($0.50) ($0.52) ($0.62)
Adjusted Weighted Average Basic Shares Outstanding
106.84M 108.88M 110.74M 109.85M 115.68M 118.66M 120.49M 119.36M 124.98M 127.87M 130.38M
Adjusted Diluted Earnings per Share
($0.67) ($0.63) ($0.57) ($0.58) ($0.56) ($0.59) ($0.60) ($0.59) ($0.50) ($0.52) ($0.62)
Adjusted Weighted Average Diluted Shares Outstanding
106.84M 108.88M 110.74M 109.85M 115.68M 118.66M 120.49M 119.36M 124.98M 127.87M 130.38M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
108.48M 110.25M 112.21M 115.61M 118.20M 119.87M 122.05M 124.82M 127.03M 129.07M 132.74M
Normalized Net Operating Profit after Tax (NOPAT)
-51 -50 -50 -51 -52 -56 -58 -58 -51 -53 -61
Normalized NOPAT Margin
-78.47% -80.72% -75.64% -70.84% -71.67% -75.90% -73.70% -66.54% -58.26% -55.86% -62.07%
Pre Tax Income Margin
-109.78% -110.06% -94.53% -89.44% -88.73% -94.98% -92.02% -84.30% -71.73% -69.66% -80.85%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

C3.ai (NYSE: AI) has shown steady top-line revenue growth over the past four years, with quarterly operating revenues rising from approximately $65.3 million in Q1 2023 to nearly $98.8 million in Q3 2025. This marks a significant increase, demonstrating the company’s ability to expand its business consistently.

Despite revenue growth, C3.ai has continuously reported operating losses each quarter. Operating income has remained negative, ranging from around -$47 million in Q3 2022 to a larger loss of about -$87.6 million in Q3 2025. This indicates that while revenue is increasing, operating expenses are growing as well, keeping the company in a loss position.

Key expense lines contributing to the negative operating income include:

  • Selling, General & Administrative (SG&A) expenses have risen steadily from around $15.7 million in Q3 2022 to $25.4 million in Q3 2025.
  • Marketing expense increased significantly from approximately $43.1 million in Q3 2022 to $61.2 million in Q3 2025.
  • Research and Development (R&D) costs also grew from $40.9 million in Q3 2022 to $59.4 million in Q3 2025.

The total operating expenses have outpaced gross profit, pushing the total operating income into deeper losses over the years.

Other income sources like interest and investment income have positively contributed, with amounts around $7.5 million to $10 million in recent quarters, somewhat offsetting operating losses but not sufficient to bring net income into positive territory.

Net income remains negative, with Q3 2025 posting a loss of approximately $80.2 million, reflecting continued challenges in managing expenses despite growing revenues.

From a cash flow perspective:

  • Net cash from operating activities has fluctuated but showed some improvement, with a negative $22 million in Q3 2025 compared to a more significant negative $38.7 million in Q2 2025 and a positive $21.3 million in Q4 2024. This suggests efforts in controlling cash burn.
  • Net cash from investing activities is generally positive, driven by sale/maturity of investments exceeding purchases, providing a cash inflow of $12.4 million in Q3 2025 and higher inflows in prior quarters.
  • Net cash from financing activities varies quarter to quarter, with $13.5 million inflow in Q3 2025 but some quarters reporting outflows. This indicates fluctuating capital raising or debt activities.
  • Overall, the company increased its cash and equivalents from $221.9 million in Q1 2023 to about $125.1 million by Q3 2025, with short-term investments also remaining robust around $599 million, supporting liquidity.

On the balance sheet:

  • Total assets have remained stable to slightly increasing, around $1.06 billion in Q3 2025 compared to $1.14 billion in Q1 2023, indicating consistent asset base management.
  • Common equity is healthy at approximately $860 million in Q3 2025, down slightly from prior years but still sizable against liabilities, supporting a solid equity buffer.
  • Total liabilities stand around $195 million in Q3 2025, slightly increased but controlled relative to equity and assets.

Summary of Key Trends for Investors:

  • Consistent revenue growth each quarter over the last four years, nearly 50% increase from 2023 to 2025.
  • Strong liquidity position supported by substantial cash, short-term investments, and controlled financing activities.
  • Reduction in cash burn from operations from large negative in early 2024 to smaller negative in late 2024 and early 2025.
  • Operating losses persist but with EBITDA-negative driven mainly by high marketing and R&D spending to fuel future growth.
  • Increasing investment in R&D and marketing shows commitment to innovation and market expansion but pressures profitability.
  • Continued net losses each quarter with no clear inflection to profitability yet, suggesting longer runway to break-even.
  • Operating expenses growing faster than gross profit, creating ongoing pressure on earnings despite revenue gains.
  • Cash flow from operating activities remains negative recently, indicating the company is still burning cash from its core business.
  • Equity base remains solid, but shrinking retained earnings deficit signals accumulated losses impacting shareholder value.
  • Share count increased modestly over time, diluting EPS with negative earnings per share persisting around -$0.6 in recent quarters.

In conclusion, C3.ai demonstrates promising revenue growth and has maintained a strong liquidity position supported by investments and financing. However, sustained operating losses and high expenses in sales, marketing, and R&D continue to weigh on earnings and cash flows. Investors should watch for signs of improving profitability and operating cash flow as key indicators of the company’s path to long-term financial health.

10/16/25 07:21 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About C3.ai's Financials

When does C3.ai's financial year end?

According to the most recent income statement we have on file, C3.ai's fiscal year ends in April. Their fiscal year 2024 ended on April 30, 2024.

How has C3.ai's net income changed over the last 5 years?

C3.ai's net income appears to be on an upward trend, with a most recent value of -$279.70 million in 2024, rising from -$33.35 million in 2019. The previous period was -$268.84 million in 2023. Find out what analysts predict for C3.ai in the coming months.

What is C3.ai's operating income?
C3.ai's total operating income in 2024 was -$318.34 million, based on the following breakdown:
  • Total Gross Profit: $178.56 million
  • Total Operating Expenses: $496.90 million
How has C3.ai's revenue changed over the last 5 years?

Over the last 5 years, C3.ai's total revenue changed from $91.61 million in 2019 to $310.58 million in 2024, a change of 239.0%.

How much debt does C3.ai have?

C3.ai's total liabilities were at $164.87 million at the end of 2024, a 4.9% decrease from 2023, and a 75.8% increase since 2020.

How much cash does C3.ai have?

In the past 4 years, C3.ai's cash and equivalents has ranged from $33.10 million in 2020 to $339.53 million in 2022, and is currently $167.15 million as of their latest financial filing in 2024.

How has C3.ai's book value per share changed over the last 5 years?

Over the last 5 years, C3.ai's book value per share changed from 0.00 in 2019 to 7.16 in 2024, a change of 715.6%.



This page (NYSE:AI) was last updated on 10/16/2025 by MarketBeat.com Staff
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