C3 AI Announces First Quarter Fiscal 2022 Results 

REDWOOD CITY, Calif. – Sept. 1, 2021 – C3.ai, Inc. (NYSE: AI), the Enterprise AI software company, today announced results for its fiscal first quarter ended July 31, 2021.

“We began our fiscal year 2022 with strong results in the first quarter, including year-over-year increases of 29 percent in revenue and 31 percent in gross profit,” said CEO Thomas M. Siebel. “We significantly expanded our market-partner ecosystem in Q1, entering into a strategic alliance with Google Cloud to allow the entire Google Cloud global sales and service organization to co-sell and service the entire family of C3 AI applications.”

First Quarter Financial Highlights:

• • Revenue: Total revenue for the quarter was $52.4 million, up from $40.5 million one year ago, an increase of 29 percent year over year.
  • Subscription revenue: Subscription revenue for the quarter was $46.1 million, up from $35.7 million one year ago, an increase of 29 percent year over year.
  • Gross Profit: Gross profit for the quarter was $39.4 million (a 75 percent gross margin), compared to $30.0 million of gross profit (a 74 percent gross margin) one year ago, an increase in gross profit of 31 percent year over year.
  • Remaining Performance Obligations (“RPO”): RPO was $290.6 million, compared to $275.1 million one year ago, an increase of 6 percent year over year.
  • Non-GAAP RPO: Non-GAAP RPO was $357.3 million, compared to $279.5 million one year ago, an increase of 28 percent year over year.
  • C3 AI Customer Count: Total enterprise AI customer count at quarter end was 98, an increase of 85 percent year over year.

Guidance for the second quarter of fiscal 2022  is total revenue of $56 million to $58 million with a non-GAAP loss from operations of $30 million to $37 million. Guidance for the full-year fiscal 2022 is $243 million to $247 million with a non-GAAP loss from operations of $107 million to $119 million.

Source C3.ai