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C3.ai, Inc. operates as an enterprise artificial intelligence application software company. The company offers C3 agentic AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI CRM Suite, a customer relationship management solution; C3 Generative AI that enables to locate, retrieve, present information, disparate data stores, applications, and enterprise information systems; C3 AI Health Suite to accelerate healthcare innovation; and C3 AI Financial Services Suite. Its C3 AI Applications include C3 AI Asset Performance suite, which consists of C3 AI Reliability, C3 AI Process Optimization, and C3 AI Energy Management applications. The company's C3 AI Supply Chain Suite comprises C3 AI Supply Network Risk, C3 AI Inventory Optimization, C3 AI Demand Forecasting, C3 AI Production Schedule Optimization, and C3 AI Sourcing Optimization solutions; C3 AI Sustainability Suite includes C3 AI ESG and C3 AI Energy Management applications to decrease greenhouse gas emissions; and C3 AI Defense & Intelligence Suite. It provides C3 AI State and Local Government Suite that includes various applications, such as C3 Law Enforcement for state, county, and municipal law enforcement agencies; C3 AI Residential Property Appraisal and C3 AI Commercial Property Appraisal for county property assessors and appraisers; and C3 Generative AI for Government Programs and C3 Generative AI for Constituent Services for federal, state, and local governments. It has strategic partnerships with Microsoft Azure, AWS, Google Cloud, McKinsey & Company, Baker Hughes, Booz Allen, and others. The company has a strategic alliance with SMX Group, LLC for the development of mission critical AI in the secure environments. The company was formerly known as C3 IoT, Inc. and changed its name to C3.ai, Inc. in June 2019. C3.ai, Inc. was incorporated in 2009 and is headquartered in Redwood City, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $389M | $-312M | $-289M | $-44M | -34.4% | 25.3% | 3.2% |
| 2024 | $311M | $-306M | $-280M | $-90M | -32.0% | 16.4% | 4.0% |
| 2023 | $267M | $-284M | $-269M | $-187M | -28.9% | 5.6% | 40.0% |
| 2022 | $253M | $-191M | $-192M | $-91M | -19.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 252.76 | 266.80 | 310.58 | 389.06 |
| Operating Revenue | 252.76 | 266.80 | 310.58 | 389.06 |
| Cost Of Revenue | 63.71 | 86.34 | 132.02 | 153.19 |
| Gross Profit | 189.05 | 180.46 | 178.56 | 235.86 |
| Operating Expense | 385.17 | 470.95 | 496.90 | 560.29 |
| Research And Development | 150.54 | 210.66 | 201.36 | 226.39 |
| Selling General And Administration | 234.62 | 260.29 | 295.54 | 333.90 |
| Total Expenses | 448.88 | 557.29 | 628.92 | 713.48 |
| Operating Income | -196.12 | -290.49 | -318.34 | -324.42 |
| Total Operating Income As Reported | -196.12 | -290.49 | -318.34 | -324.42 |
| EBITDA | -190.93 | -284.40 | -305.62 | -311.82 |
| Normalized EBITDA | -190.93 | -284.40 | -305.62 | -311.82 |
| EBIT | -196.12 | -290.49 | -318.34 | -324.42 |
| Interest Income | 1.83 | 21.98 | 40.08 | 36.19 |
| Net Interest Income | 1.83 | 21.98 | 40.08 | 36.19 |
| Other Non Operating Income Expenses | 3.02 | 0.35 | -0.64 | 0.51 |
| Other Income Expense | 3.02 | 0.35 | -0.64 | 0.51 |
| Interest Income Non Operating | 1.83 | 21.98 | 40.08 | 36.19 |
| Net Non Operating Interest Income Expense | 1.83 | 21.98 | 40.08 | 36.19 |
| Pretax Income | -191.28 | -268.16 | -278.90 | -287.73 |
| Tax Provision | 0.79 | 0.68 | 0.79 | 0.98 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | -192.06 | -268.84 | -279.70 | -288.70 |
| Net Income From Continuing And Discontinued Operation | -192.06 | -268.84 | -279.70 | -288.70 |
| Net Income From Continuing Operation Net Minority Interest | -192.06 | -268.84 | -279.70 | -288.70 |
| Net Income | -192.06 | -268.84 | -279.70 | -288.70 |
| Net Income Common Stockholders | -192.06 | -268.84 | -279.70 | -288.70 |
| Net Income Including Noncontrolling Interests | -192.06 | -268.84 | -279.70 | -288.70 |
| Normalized Income | -192.06 | -268.84 | -279.70 | -288.70 |
| Diluted NI Availto Com Stockholders | -192.06 | -268.84 | -279.70 | -288.70 |
| Basic Average Shares | 104.40 | 109.85 | 119.36 | 129.09 |
| Diluted Average Shares | 104.40 | 109.85 | 119.36 | 129.09 |
| Reconciled Depreciation | 5.19 | 6.09 | 12.72 | 12.61 |
| Reconciled Cost Of Revenue | 63.71 | 86.34 | 132.02 | 153.19 |
| General And Administrative Expense | 61.04 | 77.17 | 81.37 | 94.24 |
| Other Gand A | 61.04 | 77.17 | 81.37 | 94.24 |
| Selling And Marketing Expense | 173.58 | 183.12 | 214.17 | 239.66 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| C3.ai, Inc.this co. | AI | $1.5B | -5.32 | 1.83 | -34.4% | -4.42 |
| Harmonic Inc. | HLIT | $1.6B | -36.60 | 4.14 | -11.3% | 67.15 |
| Aeva Technologies, Inc. | AEVA | $1.5B | - | 116.35 | -1100.1% | - |
| Allient Inc. | ALNT | $1.5B | 69.27 | 5.06 | 7.3% | 25.08 |
| Alpha and Omega Semiconductor Limited | AOSL | $1.5B | -15.51 | 1.83 |
| -11.8% |
| 37.64 |
| EVERTEC, Inc. | EVTC | $1.4B | 9.90 | 2.25 | 22.8% | 6.46 |
| ADTRAN Holdings, Inc. | ADTN | $1.4B | -30.64 | 9.59 | -31.3% | 19.20 |
| Array Technologies, Inc. | ARRY | $1.4B | - | 5.37 | -43.0% | 42.29 |
| Rackspace Technology, Inc. | RXT | $1.4B | -6.17 | -1.14 | 18.5% | 18.61 |
| Peer Median | - | -10.84 | 4.60 | -11.5% | 25.08 | |