C3.Ai, Inc. Stock Price, News & Analysis

C3 AI, a leading Enterprise AI software application company, announced that the United States Air Force designated its Predictive Analytics and Decision Assistant (PANDA) as the official system for Condition Based Maintenance Plus (CBM+) and predictive maintenance. This initiative aims to enhance fleet availability and reduce lifecycle costs across the Air Force.

PANDA, co-developed by C3 AI and the Air Force, optimizes fleet maintenance and minimizes downtime by utilizing AI-driven analytics and data fusion. The platform will serve as the main tool for all CBM+ predictive analytics projects, applicable to various systems such as aircraft, missiles, and support equipment. C3 AI's collaboration with the Air Force highlights the company's commitment to advancing mission readiness through digital transformation.

C3 AI (NYSE: AI) has announced the relocation of its EMEA headquarters from Paris to London, marking a significant expansion of its presence in the UK. This strategic move is aimed at enhancing collaboration with local technology and AI experts, aligning with C3 AI's ambitious 2023 targets, which include transforming healthcare and improving energy supply. The new headquarters in Finsbury will support job creation in AI and STEM fields. This decision reflects C3 AI's commitment to establishing itself as a key player in the UK’s technological landscape, as highlighted by the UK government’s investment initiatives.

C3 AI (NYSE: AI) has been recognized by The Financial Times as one of the Fastest Growing Companies of 2023, marking its third consecutive year on this list. This accolade highlights C3 AI's significant progress in ramping its consumption-based sales efforts, contributing to substantial growth and momentum over the past year. CEO Thomas M. Siebel emphasized the trust customers and partners have in the company's software and capabilities, which positions C3 AI for a leading role in the Enterprise AI market. The ranking was determined based on the highest compound annual growth in revenues from 2018 to 2021.

C3 AI, a leader in Enterprise AI applications, has appointed General (Ret.) John E. Hyten as Special Advisor to CEO Thomas M. Siebel. Hyten has joined the advisory board in June 2022 and brings 40 years of experience from the U.S. Air Force, including roles in the Joint Chiefs of Staff. His expertise is expected to enhance C3 AI's engagement with U.S. defense and intelligence agencies. Hyten remarked on the impressive nature of C3 AI’s technology in transforming the defense sector. This move underscores C3 AI's commitment to advancing AI capabilities critical for national security.

C3.ai, the Enterprise AI application software company, reported fiscal Q3 2023 revenue of $66.7 million, surpassing guidance of $63.0 million to $65.0 million. Subscription revenue accounted for 85.6% of total revenue at $57.0 million. The company aims to be cash positive and non-GAAP profitable by the end of FY 2024. With 236 customers and $789.8 million in cash reserves, they are well-positioned for growth despite a GAAP net loss per share of $(0.57). Partnerships with Google Cloud, AWS, and Baker Hughes expanded, contributing to a strong pipeline of opportunities. Guidance for Q4 2023 forecasts revenue of $70 - $72 million.