C3.ai Posts First-Quarter Fiscal 2027 Revenue of $52.4 Million as Turnaround Takes Hold

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โดย Insider Monkey·US·Read original
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C3.ai reported its first quarter of fiscal 2027 on September 2, with total revenue of $52.4 million, subscription revenue of $49.2 million making up 94% of that total, and total bookings up 73% quarter over quarter. Chief Executive Officer Tom Siebel, three months back in the role, said the company had restored fundamental management discipline, and federal bookings grew 138% year over year as the Department of Defense budget is expected to climb from $1 trillion to $1.5 trillion. The company closed 22 enterprise agreements in the quarter, including deals with Ford Motor Company, Johnson & Johnson, Heidelberg Materials, Seaspan, and Holcim, alongside federal wins with the Defense Logistics Agency and the US Department of Agriculture. C3.ai cut headcount by 40% across the business and consolidated vendors, generating roughly $135 million in annualized savings, which helped non-GAAP gross margin jump from 37% the prior quarter to 50%, non-GAAP expenses fall by almost $40 million year over year to $88.5 million, and free cash flow turn positive at $2.1 million, compared with a $34.3 million outflow in the same period last year. The improvement has limits: CFO Hitesh Lath said non-GAAP gross margin is expected to slide back to the mid-40s next quarter, the quarter's GAAP net loss came to $92.8 million, or $0.60 per share, and the non-GAAP net loss was $30.7 million, or $0.20 per share, while second-quarter revenue is projected at $51 million to $55 million against a non-GAAP operating loss of $34.5 million to $42.5 million and the full fiscal 2027 outlook calls for revenue of $210 million to $240 million alongside a non-GAAP operating loss of $123 million to $155 million.

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C3.ai's Q1 FY2027 results show revenue of $52.4M, gross margin jump to 50%, positive free cash flow, and $135M annualized savings from a 40% headcount cut.

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