Overview
C3 AI fiscal Q2 revenue rises 7% QoQ, driven by Federal bookings growth
GAAP net loss per share for fiscal Q2 was $(0.75)
Federal bookings grew 89% YoY, representing 45% of total bookings
Outlook
Company forecasts Q3 revenue between $72.0 mln and $80.0 mln
C3 AI expects full-year revenue between $289.5 mln and $309.5 mln
Company projects Q3 non-GAAP loss from operations of $(44.0) mln to $(52.0) mln
Result Drivers
FEDERAL BOOKINGS - Co reports 89% YoY growth in Federal bookings, driven by new agreements with multiple government agencies
PARTNER ECOSYSTEM - 89% of total bookings driven through partner network, including Microsoft and AWS
HIGH-VALUE DEALS - Co closed 46 agreements, including 17 deals over $1 mln and six over $5 mln
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS | -$0.75 | ||
Q2 Net Income | -$104.67 mln | ||
Q2 Gross Profit | $30.38 mln | ||
Q2 Operating Expenses | $142.49 mln | ||
Q2 Operating Income | -$112.11 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 7 "hold" and 6 "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy."
Wall Street's median 12-month price target for C3.ai Inc is $16.00, about 11.3% above its December 2 closing price of $14.37
Press Release: ID:nBwVs2t4a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
