The company closing 43 deals during FQ4 is a huge step up in new customers. The enterprise AI company added 27 deals during FQ3'23, up from only 20 in the prior-year period. C3.ai closed 43 deals during the April quarter with 19 pilots initiated during the quarter.ĭuring the prior quarter, C3.ai was proud to only have a customer account of 236. The most crucial data point from the preliminary numbers were the closed deals during the quarter. Of course, the April quarter is the seasonally strongest quarter, so the July quarter could see some seasonal weakness, but C3.ai isn't going to see the huge dip like back in FY23. In fact, the FQ4 revenues are approaching record levels. The company predicts revenue will now top $72 million in the April quarter following well received guidance for revenues to reach $70 to $72 million after a FQ3 where revenues were $67 million. The enterprise AI company had already highlighted a plan to shift the business model to a transaction-based pricing method in a disruption to the short-term revenues, but a boost to the long-term revenues via the addition of more customers.Ĭ3.ai just guided to preliminary FQ4'23 numbers, topping previous estimates. One of the "so-called" rigorous claims of the shorts was the lack of revenue growth being reported by C3.ai. My investment thesis remains Bullish on the stock following the recent dip back to the low $20s. Regardless of this view, C3.ai continues to ride the AI trend in enterprise software higher with growth rates that are starting to re-accelerate following a change to the business model. ( NYSE: AI) business in claims the company wasn't a legitimate artificial intelligence, or AI, firm. Following a short seller report, the market attacked the C3.ai, Inc.
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