NYSE : AI
C3.ai, Inc. — Financial statements
Technology · Software - Infrastructure · United States
Last price 11.85 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.91B
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Financial statements
C3.ai, Inc. (AI) reported revenue of 232.38M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year May - April; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 232.38M | 250.27M | 389.06M | 310.58M | 266.80M | 252.76M |
| Cost of Revenue | 164.78M | 172.89M | 153.19M | 132.02M | 86.34M | 63.71M |
| Gross Profit | 67.61M | 77.38M | 235.86M | 178.56M | 180.46M | 189.05M |
| Selling, General & Admin | 317.04M | 335.96M | 333.90M | 295.54M | 260.29M | 234.62M |
| Research & Development | 210.99M | 229.09M | 226.39M | 201.37M | 210.66M | 150.54M |
| Operating Expenses | 528.03M | 565.05M | 560.29M | 496.90M | 470.95M | 385.17M |
| Operating Income | -460.42M | -487.67M | -324.42M | -318.34M | -290.49M | -196.12M |
| Interest & Investment Income | 26.19M | 28.45M | 36.19M | 40.08M | 21.98M | 1.83M |
| Other Non Operating Income (Expenses) | 34.00K | 504.00K | 509.00K | -641.00K | 350.00K | 3.02M |
| EBT Excluding Unusual Items | -434.20M | -458.72M | -287.73M | -278.90M | -268.16M | -191.28M |
| Merger & Restructuring Charges | -11.53M | -10.83M | ||||
| Pretax Income | -445.73M | -469.55M | -287.73M | -278.90M | -268.16M | -191.28M |
| Income Tax Expense | 685.00K | 822.00K | 976.00K | 792.00K | 675.00K | 789.00K |
| Net Income | -446.41M | -470.37M | -288.70M | -279.70M | -268.84M | -192.06M |
| Net Income to Common | -446.41M | -470.37M | -288.70M | -279.70M | -268.84M | -192.06M |
| Shares Outstanding (Basic) | 145.42M | 140.51M | 129.09M | 119.36M | 109.85M | 104.40M |
| Shares Outstanding (Diluted) | 145.42M | 140.51M | 129.09M | 119.36M | 109.85M | 104.40M |
| EPS (Basic) | -3.07 | -3.35 | -2.24 | -2.34 | -2.45 | -1.84 |
| EPS (Diluted) | -3.07 | -3.35 | -2.24 | -2.34 | -2.45 | -1.84 |
| Free Cash Flow | -155.78M | -192.14M | -44.45M | -87.62M | -186.21M | -90.25M |
| Free Cash Flow Per Share | -1.07 | -1.37 | -0.34 | -0.73 | -1.70 | -0.86 |
| Gross Margin | 29.09% | 30.92% | 60.62% | 57.49% | 67.64% | 74.79% |
| Operating Margin | -198.13% | -194.86% | -83.39% | -102.50% | -108.88% | -77.59% |
| Profit Margin | -192.10% | -187.95% | -74.21% | -90.05% | -100.77% | -75.99% |
| Free Cash Flow Margin | -67.03% | -76.77% | -11.42% | -28.21% | -69.80% | -35.71% |
| EBITDA | -447.08M | -474.32M | -312.22M | -306.92M | -285.50M | -191.63M |
| EBITDA Margin | -192.39% | -189.52% | -80.25% | -98.82% | -107.01% | -75.82% |
| D&A For EBITDA | 13.34M | 13.35M | 12.21M | 11.42M | 4.99M | 4.49M |
| EBIT | -460.42M | -487.67M | -324.42M | -318.34M | -290.49M | -196.12M |
| EBIT Margin | -198.13% | -194.86% | -83.39% | -102.50% | -108.88% | -77.59% |
| Revenue as Reported | 232.38M | 250.27M | 389.06M | 310.58M | 266.80M | 252.76M |
| Advertising Expenses | 100.00K | 18.30M | 15.80M | 6.90M | 51.90M |
Balance sheet
Fiscal year May - April; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 136.44M | 66.20M | 164.36M | 167.15M | 284.83M | 339.53M |
| Short-Term Investments | 514.63M | 509.25M | 578.33M | 583.22M | 446.15M | 620.63M |
| Cash & Short-Term Investments | 651.07M | 575.45M | 742.69M | 750.37M | 730.98M | 960.16M |
| Accounts Receivable | 94.57M | 100.55M | 137.23M | 130.06M | 134.59M | 80.27M |
| Other Receivables | 4.98M | 4.86M | ||||
| Receivables | 94.57M | 100.55M | 137.23M | 130.06M | 139.57M | 85.13M |
| Prepaid Expenses | 24.53M | 27.16M | 17.24M | 16.96M | 12.13M | 4.12M |
| Restricted Cash | 425.00K | |||||
| Other Current Assets | 4.80M | 7.10M | 7.00M | 6.20M | 10.60M | |
| Total Current Assets | 770.17M | 707.96M | 904.25M | 904.39M | 888.88M | 1.06B |
| Property, Plant & Equipment | 63.57M | 85.69M | 98.62M | 107.30M | 102.15M | 43.53M |
| Long-Term Investments | 81.42M | 32.09M | ||||
| Goodwill | 625.00K | 625.00K | 625.00K | 625.00K | 625.00K | 625.00K |
| Other Long-Term Assets | 40.44M | 22.00M | 22.39M | 25.91M | 29.96M | 34.21M |
| Total Assets | 874.80M | 816.27M | 1.03B | 1.04B | 1.10B | 1.17B |
| Accounts Payable | 8.74M | 5.51M | 15.16M | 11.32M | 24.61M | 54.22M |
| Accrued Expenses | 55.25M | 56.68M | 69.69M | 49.13M | 57.39M | 39.70M |
| Current Portion of Leases | 5.79M | 5.58M | 4.79M | 3.23M | 2.34M | 3.61M |
| Current Income Taxes Payable | 2.51M | 3.62M | 3.26M | 621.00K | ||
| Current Unearned Revenue | 52.57M | 34.86M | 36.56M | 37.23M | 47.85M | 48.85M |
| Other Current Liabilities | 267.00K | 319.00K | 2.42M | 814.00K | 3.85M | 3.78M |
| Total Current Liabilities | 125.12M | 106.57M | 131.88M | 102.33M | 136.04M | 150.17M |
| Long-Term Leases | 53.68M | 53.10M | 55.49M | 55.60M | 37.32M | 26.85M |
| Long-Term Unearned Revenue | 1.11M | 1.56M | 1.73M | 4.00K | 288.00K | |
| Other Long-Term Liabilities | 1.29M | 200.00K | 5.21M | 4.10M | ||
| Total Liabilities | 179.91M | 162.52M | 187.58M | 164.87M | 173.36M | 181.41M |
| Common Stock | 159.00K | 148.00K | 133.00K | 123.00K | 113.00K | 106.00K |
| Additional Paid-In Capital | 2.64B | 2.50B | 2.22B | 1.96B | 1.74B | 1.53B |
| Retained Earnings | -1.94B | -1.85B | -1.38B | -1.09B | -810.24M | -541.40M |
| Comprehensive Income & Other | -610.00K | -50.00K | 521.00K | -563.00K | -385.00K | -2.15M |
| Total Common Equity | 694.90M | 653.75M | 838.30M | 873.35M | 929.66M | 989.48M |
| Shareholders' Equity | 694.90M | 653.75M | 838.30M | 873.35M | 929.66M | 989.48M |
| Total Liabilities & Equity | 874.80M | 816.27M | 1.03B | 1.04B | 1.10B | 1.17B |
| Total Debt | 59.47M | 58.68M | 60.29M | 58.83M | 39.66M | 30.46M |
| Net Cash (Debt) | 591.60M | 516.77M | 682.40M | 691.54M | 772.74M | 961.78M |
| Net Cash Per Share | 4.07 | 3.68 | 5.29 | 5.79 | 7.03 | 9.21 |
| Filing Date Shares Outstanding | 160.78M | 155.45M | 134.39M | 124.82M | 115.61M | 107.15M |
| Total Common Shares Outstanding | 159.81M | 148.01M | 133.94M | 123.71M | 113.94M | 106.23M |
| Working Capital | 645.05M | 601.39M | 772.37M | 802.06M | 752.84M | 910.27M |
| Book Value Per Share | 4.35 | 4.42 | 6.26 | 7.06 | 8.16 | 9.31 |
| Tangible Book Value | 694.27M | 653.13M | 837.68M | 872.73M | 929.04M | 988.85M |
| Tangible Book Value Per Share | 4.34 | 4.41 | 6.25 | 7.05 | 8.15 | 9.31 |
| Machinery | 21.04M | 21.18M | 21.59M | 19.41M | 19.24M | 3.67M |
| Construction In Progress | 960.00K | 12.12M | 3.14M | 11.26M | ||
| Leasehold Improvements | 83.15M | 83.00M | 82.51M | 71.87M | 66.52M | 8.88M |
Cash flow statement
Fiscal year May - April; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -446.41M | -470.37M | -288.70M | -279.70M | -268.84M | -192.06M |
| Depreciation & Amortization | 13.34M | 13.35M | 12.21M | 11.42M | 4.99M | 4.49M |
| Other Amortization | 200.00K | 200.00K | 400.00K | 1.30M | 1.10M | 700.00K |
| Asset Writedown & Restructuring Costs | 5.64M | 5.64M | ||||
| Loss (Gain) From Sale of Investments | -6.98M | -8.48M | -13.46M | -17.21M | -4.56M | 1.76M |
| Stock-Based Compensation | 258.17M | 263.71M | 230.99M | 215.76M | 216.54M | 113.44M |
| Other Operating Activities | 723.00K | 890.00K | 3.16M | 840.00K | 7.24M | 4.02M |
| Change in Accounts Receivable | 19.13M | 36.49M | -9.12M | 4.52M | -54.52M | -14.16M |
| Change in Accounts Payable | -3.43M | -9.44M | 3.63M | -12.88M | -22.04M | 34.48M |
| Change in Unearned Revenue | 23.74M | -140.00K | -2.40M | -8.89M | -1.29M | -26.09M |
| Change in Other Net Operating Assets | -18.75M | -22.08M | 21.89M | 22.48M | 5.68M | -13.05M |
| Operating Cash Flow | -154.62M | -190.23M | -41.41M | -62.36M | -115.69M | -86.46M |
| Capital Expenditures | -1.16M | -1.91M | -3.04M | -25.26M | -70.52M | -3.79M |
| Sale (Purchase) of Intangibles | -2.75M | -1.00M | -500.00K | |||
| Investment in Securities | 122.77M | 76.99M | 19.43M | -38.61M | 131.46M | 321.31M |
| Investing Cash Flow | 121.61M | 75.08M | 16.40M | -66.61M | 59.95M | 317.01M |
| Issuance of Common Stock | 88.51M | 16.98M | 31.30M | 24.51M | 7.56M | 20.82M |
| Repurchase of Common Stock | -9.08M | -13.22M | -6.94M | -15.00M | ||
| Other Financing Activities | -105.00K | |||||
| Financing Cash Flow | 88.51M | 16.98M | 22.22M | 11.29M | 621.00K | 5.71M |
| Net Cash Flow | 55.49M | -98.16M | -2.79M | -117.68M | -55.12M | 236.26M |
| Free Cash Flow | -155.78M | -192.14M | -44.45M | -87.62M | -186.21M | -90.25M |
| Free Cash Flow Margin | -67.03% | -76.77% | -11.42% | -28.21% | -69.80% | -35.71% |
| Free Cash Flow Per Share | -1.07 | -1.37 | -0.34 | -0.73 | -1.70 | -0.86 |
| Levered Free Cash Flow | 15.89M | -26.48M | 58.23M | -29.21M | -100.92M | -2.78M |
| Unlevered Free Cash Flow | 15.89M | -26.48M | 58.23M | -29.21M | -100.92M | -2.78M |
| Cash Income Tax Paid | 904.00K | 838.00K | 920.00K | 975.00K | 578.00K | 939.00K |
| Change in Working Capital | 20.70M | 4.83M | 14.00M | 5.23M | -72.17M | -18.81M |
Ratios
Fiscal year May - April; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.93B | 1.28B | 2.92B | 2.75B | 2.00B | 1.81B |
| Enterprise Value | 1.33B | 721.25M | 2.20B | 2.03B | 1.22B | 814.36M |
| Last Close Price | 11.85 | 8.83 | 22.01 | 22.53 | 17.82 | 16.99 |
| PS Ratio | 8.20 | 5.13 | 7.51 | 8.85 | 7.50 | 7.15 |
| PB Ratio | 2.73 | 1.96 | 3.48 | 3.15 | 2.15 | 1.83 |
| P/TBV Ratio | 2.74 | 1.96 | 3.49 | 3.15 | 2.15 | 1.83 |
| EV/Sales Ratio | 5.65 | 2.88 | 5.66 | 6.54 | 4.56 | 3.22 |
| Debt / Equity Ratio | 0.09 | 0.09 | 0.07 | 0.07 | 0.04 | 0.03 |
| Net Debt / Equity Ratio | -0.85 | -0.79 | -0.81 | -0.79 | -0.83 | -0.97 |
| Net Debt / EBITDA Ratio | 1.32 | 1.09 | 2.19 | 2.25 | 2.71 | 5.02 |
| Net Debt / FCF Ratio | 3.80 | 2.69 | 15.35 | 7.89 | 4.15 | 10.66 |
| Asset Turnover | 0.25 | 0.27 | 0.38 | 0.29 | 0.23 | 0.21 |
| Quick Ratio | 5.96 | 6.34 | 6.67 | 8.60 | 6.40 | 6.96 |
| Current Ratio | 6.16 | 6.64 | 6.86 | 8.84 | 6.53 | 7.06 |
| Return on Equity (ROE) | -59.77% | -63.05% | -33.73% | -31.03% | -28.02% | -18.73% |
| Return on Assets (ROA) | -31.22% | -33.09% | -19.65% | -18.58% | -15.97% | -10.36% |
| Return on Capital Employed (ROCE) | -61.40% | -68.70% | -36.30% | -34.00% | -30.00% | -19.20% |
| Earnings Yield | -25.62% | -36.66% | -9.88% | -10.17% | -13.44% | -10.63% |
| FCF Yield | -8.18% | -14.98% | -1.52% | -3.19% | -9.31% | -4.99% |
| Buyback Yield / Dilution | -10.43% | -8.85% | -8.15% | -8.66% | -5.22% | -56.19% |