Tearsheet

C3.ai (AI)

Market Price (5/6/2026): $9.62 | Market Cap: $1.4 Bil
Sector: Information Technology | Industry: Technology Hardware, Storage & Peripherals

C3.ai (AI)

Market Price (5/6/2026): $9.62
Market Cap: $1.4 Bil
Sector: Information Technology
Industry: Technology Hardware, Storage & Peripherals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -45%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35%

Megatrend and thematic drivers
Megatrends include Artificial Intelligence, and Cloud Computing. Themes include AI Software Platforms, Software as a Service (SaaS), Show more.

Weak multi-year price returns
2Y Excs Rtn is -104%, 3Y Excs Rtn is -125%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -466 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -152%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -16%, Rev Chg QQuarterly Revenue Change % is -46%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 87%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -41%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -41%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -36%

Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 31%

Key risks
AI key risks include [1] persistent unprofitability and a high cash burn rate, Show more.

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -45%
1	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -35%
2	Megatrend and thematic drivers Megatrends include Artificial Intelligence, and Cloud Computing. Themes include AI Software Platforms, Software as a Service (SaaS), Show more.
3	Weak multi-year price returns 2Y Excs Rtn is -104%, 3Y Excs Rtn is -125%
4	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -466 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -152%
5	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -16%, Rev Chg QQuarterly Revenue Change % is -46%
6	Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 87%
7	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -41%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -41%
8	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -36%
9	Significant short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 31%
10	Key risks AI key risks include [1] persistent unprofitability and a high cash burn rate, Show more.

Valuation, Metrics & Events

	5/6/26	2025	2024	2023	2022
Share Price CYE	$9.62	$13.48	$34.43	$28.71	$11.19
Market Cap CYE ($ Bil)	1.4	1.9	4.5	3.5	1.2
Total Debt ($ Bil)	0.0	0.0	0.0	0.0	0.0
Total Cash ($ Bil)	0.6	0.6	0.7	0.7	0.8
Enterprise Value ($ Bil)	0.7	1.9	4.5	3.5	1.2
Valuation Ratios
P/S TTM	4.4	6.2	12.2	11.7	4.6
P/EBIT TTM	-2.9	-4.1	-14.1	-11.2	-4.5
P/E TTM	-3.1	-4.4	-15.9	-12.7	-4.7
P/FCF TTM	-10.7	-15.1	-124.8	-37.2	-5.7
Sector Ratios
P/S TTM (Sector)	4.0	3.6	3.6	3.7	3.0
P/EBIT TTM (Sector)	8.7	8.4	7.3	5.1	3.9
P/E TTM (Sector)	7.8	7.8	0.2	-0.1	0.0
P/FCF TTM (Sector)	13.8	13.6	16.8	15.9	12.7

	5/6/26	2025	2024
Share Price CYE	$9.62	$13.48	$34.43
Market Cap CYE ($ Bil)	1.4	1.9	4.5
Total Debt ($ Bil)	0.0	0.0	0.0
Total Cash ($ Bil)	0.6	0.6	0.7
Enterprise Value ($ Bil)	0.7	1.9	4.5
Valuation Ratios
P/S TTM	4.4	6.2	12.2
P/EBIT TTM	-2.9	-4.1	-14.1
P/E TTM	-3.1	-4.4	-15.9
P/FCF TTM	-10.7	-15.1	-124.8
Sector Ratios
P/S TTM (Sector)	4.0	3.6	3.6
P/EBIT TTM (Sector)	8.7	8.4	7.3
P/E TTM (Sector)	7.8	7.8	0.2
P/FCF TTM (Sector)	13.8	13.6	16.8

	AI	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	0.3
Rev Chg Q	-46.1%	8.4%
Rev Chg LTM	-16.2%	7.1%
Rev Chg 3Y Avg	6.2%	5.7%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.5
CFO LTM ($ Bil)	-0.1
Net Inc LTM ($ Bil)	-0.4
Op Mgn LTM	-151.7%	18.6%
CFO/Rev LTM	-40.5%	21.0%
Net Inc Mgn	-141.4%	12.9%
VALUATION	MODERATE
P/S	4.4	3.2
P/CFO	-11.0	15.0
P/FCF	-10.7	19.3
P/E	-3.1	24.1
STABILITY	VERY GOOD
Debt/Equity	0.00	0.21
Cash/Assets	0.69	0.07

AI Analysis | Feedback

Metric	Value	Date	Source
Total Agreements Closed	46	7312025	Link
Initial Production Deployments	28	7312025	Link
Agreements Closed Through Partner Network	40	7312025	Link
Total Granted Patents	29	12312023	Link
Total Patent Families	31	12312023	Link
Active Patents	117	12312023	Link

Upcoming
5/27/2026	Earnings Release	Rev: $50 Mil (E) EPS: $-0.38 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

C3.ai (AI) stock has lost about 15% since 1/31/2026 because of the following key factors:

1. Weaker-than-expected Q3 FY2026 financial results and guidance led to a significant stock decline. C3.ai reported a GAAP net loss per share of $(0.40) for its fiscal third quarter ended January 31, 2026, missing consensus analyst estimates of $(0.29). The company's revenue for the quarter was $53.3 million, falling short of analyst expectations of $75.91 million by approximately 30% and representing a 46.1% year-over-year decrease. Following this announcement on February 25, 2026, C3.ai shares fell 10.4% in after-hours trading.

2. Widespread analyst downgrades and reduced price targets reflected diminished confidence. In the wake of the disappointing Q3 FY2026 earnings, numerous analyst firms revised their ratings and lowered price targets for C3.ai. For instance, on February 26, 2026, Wolfe Research reiterated an "underperform" rating with a $6.00 target price, Canaccord Genuity Group cut its target from $16.00 to $7.00 with a "hold" rating, and KeyCorp reduced its target from $10.00 to $6.00 with an "underweight" rating. The consensus analyst rating for C3.ai shifted to "Reduce" or "Neutral," with a median price target in the range of $9.00 to $11.92 by late April 2026.

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Stock Movement Drivers

Fundamental Drivers

The -12.6% change in AI stock from 1/31/2026 to 5/6/2026 was primarily driven by a -12.9% change in the company's Total Revenues ($ Mil).

(LTM values as of)	1312026	5062026	Change
Stock Price ($)	11.01	9.62	-12.6%
Change Contribution By:
Total Revenues ($ Mil)	353	307	-12.9%
P/S Multiple	4.3	4.4	2.7%
Shares Outstanding (Mil)	139	142	-2.3%
Cumulative Contribution			-12.6%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/6/2026

	Return	Correlation
AI	-12.8%
Market (SPY)	3.6%	49.0%
Sector (XLK)	18.3%	52.4%

Fundamental Drivers

The -45.3% change in AI stock from 10/31/2025 to 5/6/2026 was primarily driven by a -30.5% change in the company's P/S Multiple.

(LTM values as of)	10312025	5062026	Change
Stock Price ($)	17.58	9.62	-45.3%
Change Contribution By:
Total Revenues ($ Mil)	372	307	-17.4%
P/S Multiple	6.4	4.4	-30.5%
Shares Outstanding (Mil)	135	142	-4.6%
Cumulative Contribution			-45.3%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/6/2026

	Return	Correlation
AI	-45.4%
Market (SPY)	5.5%	51.2%
Sector (XLK)	13.4%	54.7%

Fundamental Drivers

The -56.3% change in AI stock from 4/30/2025 to 5/6/2026 was primarily driven by a -43.2% change in the company's P/S Multiple.

(LTM values as of)	4302025	5062026	Change
Stock Price ($)	22.01	9.62	-56.3%
Change Contribution By:
Total Revenues ($ Mil)	367	307	-16.2%
P/S Multiple	7.8	4.4	-43.2%
Shares Outstanding (Mil)	130	142	-8.2%
Cumulative Contribution			-56.3%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/6/2026

	Return	Correlation
AI	-56.4%
Market (SPY)	30.4%	47.6%
Sector (XLK)	62.9%	47.8%

Fundamental Drivers

The -46.0% change in AI stock from 4/30/2023 to 5/6/2026 was primarily driven by a -40.0% change in the company's P/S Multiple.

(LTM values as of)	4302023	5062026	Change
Stock Price ($)	17.82	9.62	-46.0%
Change Contribution By:
Total Revenues ($ Mil)	267	307	15.3%
P/S Multiple	7.4	4.4	-40.0%
Shares Outstanding (Mil)	111	142	-22.0%
Cumulative Contribution			-46.0%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/6/2026

	Return	Correlation
AI	-46.1%
Market (SPY)	78.7%	44.6%
Sector (XLK)	130.2%	43.7%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
AI Return	-77%	-64%	157%	20%	-61%	-30%	-93%
Peers Return	22%	-54%	90%	83%	25%	-24%	86%
S&P 500 Return	27%	-19%	24%	23%	16%	6%	93%
Monthly Win Rates [3]
AI Win Rate	33%	33%	50%	42%	33%	60%
Peers Win Rate	53%	30%	60%	55%	50%	28%
S&P 500 Win Rate	75%	42%	67%	75%	67%	60%
Max Drawdowns [4]
AI Max Drawdown	-79%	-67%	-3%	-29%	-63%	-42%
Peers Max Drawdown	-22%	-59%	-7%	-18%	-27%	-36%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-7%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: PLTR, SNOW, DDOG, NOW, CRM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/6/2026 (YTD)

Event	AI	S&P 500
2024 Yen Carry Trade Unwind
% Loss	-21.9%	-7.8%
% Gain to Breakeven	28.0%	8.5%
Time to Breakeven	104 days	18 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-41.5%	-9.5%
% Gain to Breakeven	70.8%	10.5%
Time to Breakeven	437 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-18.4%	-6.7%
% Gain to Breakeven	22.6%	7.1%
Time to Breakeven	13 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-63.7%	-24.5%
% Gain to Breakeven	175.8%	32.4%
Time to Breakeven	168 days	427 days

Compare to PLTR, SNOW, DDOG, NOW, CRM

In The Past

C3.ai's stock fell -21.9% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 28.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	AI	S&P 500
2024 Yen Carry Trade Unwind
% Loss	-21.9%	-7.8%
% Gain to Breakeven	28.0%	8.5%
Time to Breakeven	104 days	18 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-41.5%	-9.5%
% Gain to Breakeven	70.8%	10.5%
Time to Breakeven	437 days	24 days
2022 Inflation Shock & Fed Tightening
% Loss	-63.7%	-24.5%
% Gain to Breakeven	175.8%	32.4%
Time to Breakeven	168 days	427 days

Compare to PLTR, SNOW, DDOG, NOW, CRM

In The Past

C3.ai's stock fell -21.9% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 28.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About C3.ai (AI)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

C3.ai, Inc. operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It offers software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina to analysis-ready data; and C3 AI CRM, an AI-first customer relationship management solution to drive customer-facing operations. It also offers C3 AI applications, including C3 AI Inventory Optimization, a solution to optimize raw material, in-process, and finished goods inventory levels; C3 AI Supply Network Risk, which provides visibility into risks of disruption throughout the supply chain operations; C3 AI Customer Churn Management, which enables account executives and relationship managers to monitor customer satisfaction, as well as to prevent customer churn with AI-based and human-interpretable predictions and warning; C3 AI Production Schedule Optimization, a solution for scheduling production; C3 AI Predictive Maintenance, which provides insight into asset risk to maintenance planners and equipment operators; C3 AI Fraud Detection solution that identify revenue leakage or maintenance and safety; and C3 AI Energy Management solution. In addition, it offers integrated turnkey enterprise AI applications for oil and gas, chemicals, utilities, manufacturing, financial services, defense, intelligence, aerospace, healthcare, and telecommunications market segments. It has strategic partnerships with Baker Hughes in the areas of oil and gas market; FIS in the areas of financial services market; Raytheon; and AWS, Intel, and Microsoft. 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.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe C3.ai:

SAP for enterprise AI.
Salesforce for industrial and operational AI.
Palantir for commercial enterprise AI solutions.

AI Analysis | Feedback

C3 AI Suite: A platform-as-a-service (PaaS) for designing, developing, and deploying enterprise AI applications.
C3 AI Ex Machina: A solution for preparing and analyzing data.
C3 AI CRM: An AI-first customer relationship management solution for customer-facing operations.
C3 AI Applications: A suite of integrated turnkey enterprise AI applications for various industry-specific functions, including Inventory Optimization, Supply Network Risk, Customer Churn Management, Production Schedule Optimization, Predictive Maintenance, Fraud Detection, and Energy Management.

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Major Customers of C3.ai (AI)

C3.ai primarily sells its enterprise AI software applications to other companies (enterprises). Based on the provided information, C3.ai has strategic partnerships with several major corporations across various industries. While described as partnerships, for an enterprise software company, these often involve significant customer relationships where the partners either directly use C3.ai's solutions, integrate them into their offerings, or serve as major channels for C3.ai's products. The major companies identified through these strategic partnerships are:

Baker Hughes (BKR)
FIS (FIS)
Raytheon (RTX)
Amazon Web Services (part of Amazon, AMZN)
Intel (INTC)
Microsoft (MSFT)

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Amazon (AMZN)
Intel (INTC)
Microsoft (MSFT)

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Stephen Ehikian, Chief Executive Officer

Stephen Ehikian became the Chief Executive Officer of C3.ai effective September 1, 2025. He is a seasoned technology executive in the enterprise software industry. Prior to C3.ai, Mr. Ehikian successfully built and scaled two companies, RelateIQ and Airkit.ai, both of which were acquired by Salesforce. RelateIQ now underpins Salesforce Einstein, and Airkit.ai is a core component of Salesforce Agentforce. He also served as President Trump's appointee as Acting Administrator of the U.S. General Services Administration, where he led reforms in federal procurement and technology modernization and pioneered AI adoption.

Hitesh Lath, Senior Vice President and Chief Financial Officer

Hitesh Lath was appointed Chief Financial Officer of C3.ai, effective March 1, 2024. Before assuming the CFO role, he served as C3.ai's Vice President and Chief Accounting Officer from December 2023 to February 2024. Mr. Lath brings over 22 years of experience from EY, where he was most recently a partner in their San Jose, CA office, serving various technology clients from Fortune 100 companies to Silicon Valley startups.

Thomas M. Siebel, Executive Chairman

Thomas M. Siebel founded C3.ai in 2009 and served as its Chief Executive Officer and Chairman, leading the company from its inception through a successful initial public offering. He transitioned to the role of Executive Chairman in September 2025. Prior to C3.ai, Mr. Siebel founded and served as the Chief Executive Officer of Siebel Systems, which was a leader in application software before merging with Oracle Corporation in January 2006. Siebel Systems, founded in 1993, grew to have over 8,000 employees in 32 countries, more than 4,500 corporate customers, and annual revenue exceeding $2 billion. Mr. Siebel is also the chairman of First Virtual Group, a diversified holding company.

Edward Abbo, Executive Vice President and Chief Technology Officer

Edward Abbo has served as the Executive Vice President and Chief Technology Officer of C3.ai since July 2011. He previously held the position of Chief Executive Officer of C3.ai from September 2009 to July 2011. Mr. Abbo co-founded C3.ai with Thomas M. Siebel. Before joining C3.ai, he served as Senior Vice President of Engineering and Chief Technology Officer for Siebel Systems from July 1994 until its merger with Oracle Corporation in January 2006, and then as Senior Vice President of Oracle Corporation from January 2006 to July 2009.

Houman Behzadi, Executive Vice President and Chief Product Officer

Houman Behzadi has served as C3.ai's Chief Product Officer since October 2016. He previously served as Senior Vice President and Chief Product Officer, and prior to that, Senior Vice President of Products and Engineering and Vice President of Engineering at C3.ai. Before joining C3.ai, Mr. Behzadi held various leadership roles with Siebel Systems from January 2001 until its merger with Oracle Corporation in January 2006.

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Here are the key risks to C3.ai:

Challenges with Business Model Transition and Revenue Decline: C3.ai is undergoing a strategic shift from large, multi-year subscription contracts to a consumption-based pricing model, which has led to a significant year-over-year revenue decline, including a 46% drop in its fiscal third quarter 2026. This transition is fraught with execution risks, and analysts express concerns that the consumption-based model's adoption could be slower than projected, particularly if enterprise AI budgets remain constrained. The success of this fundamental business model change is critical for the company's future financial stability and growth.
Intense Competition and Difficulty Achieving Profitability: The enterprise artificial intelligence market is highly competitive, with C3.ai facing established rivals such as IBM, Microsoft, Palantir, and Salesforce, which possess broader customer bases and stronger brand recognition. C3.ai has reported increasing net losses and concerns persist regarding its ability to achieve and maintain profitability given its high operating expenses and the struggle to capture significant market share against larger players.
Customer Concentration Risk: C3.ai's revenue is substantially dependent on a limited number of customers, with a significant portion historically tied to the energy sector, including a major client like Baker Hughes. This concentration makes the company vulnerable to substantial revenue reductions if these key customer relationships are not maintained, if contracts are not renewed, or if there is a decline in spending from these major clients.

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The primary clear emerging threat to C3.ai stems from the major hyperscale cloud providers, such as AWS, Microsoft Azure, and Google Cloud. While C3.ai partners with some of these companies, these same partners are rapidly expanding their own comprehensive enterprise AI/ML platforms and solutions. These cloud providers offer robust platform-as-a-service (PaaS) environments (e.g., AWS SageMaker, Azure ML, Google Vertex AI) that directly compete with C3.ai's C3 AI Suite for developing and deploying enterprise AI applications. Furthermore, they are increasingly offering pre-built, industry-specific AI applications and services that could diminish the need for specialized third-party solutions like those provided by C3.ai. This trend represents a potential disintermediation where enterprises may opt to leverage the integrated AI capabilities directly from their existing cloud providers, who control the underlying infrastructure and can offer deeply integrated, potentially more cost-effective, and comprehensive solutions.

AI Analysis | Feedback

C3.ai (NYSE: AI) operates within several significant addressable markets for its enterprise artificial intelligence (AI) software and services.

The company itself estimates its total addressable market (TAM) to be $271 billion in 2024. More broadly, the global enterprise AI market is projected to offer an opportunity of $600 billion by the end of 2026. Global spending on enterprise AI is expected to reach $423 billion by 2027.

For its core offering, the C3 AI Suite, which provides an AI software platform, the global market for AI software platforms is expected to grow from $28 billion in 2023 to $153 billion in 2028. Furthermore, with its focus on generative AI and agentic AI capabilities, C3.ai addresses the global market for decision-making AI agents, which is projected to expand from $8 billion in 2026 to $215 billion by 2035.

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Here are 3-5 expected drivers of future revenue growth for C3.ai (AI) over the next 2-3 years: * **Expansion of Strategic Partnerships and Ecosystem:** C3.ai is heavily focused on expanding its partner ecosystem, which includes hyperscalers like Microsoft, AWS, and Google Cloud, as well as advisory alliances such as McKinsey QuantumBlack, PwC, and Booz Allen Hamilton. This strategy is proving to be a significant growth driver, expanding market reach, accelerating sales cycles, and increasing the adoption of its enterprise AI applications. For instance, in fiscal year 2025, 73% of agreements were completed through partnerships, with partner-supported bookings rising 419% year-over-year in the fiscal fourth quarter. The joint qualified opportunity pipeline with partners also saw a substantial increase of 108% year-over-year in Q2 FY26. * **Growing Demand for Enterprise AI and Generative AI Solutions:** The rapidly expanding enterprise AI market, coupled with C3.ai's innovative product portfolio, particularly its generative AI offerings, is expected to fuel revenue growth. The company launched 30 generative AI products in fiscal year 2024 and experienced overwhelming market interest, with tens of thousands of inquiries from businesses for these applications. C3.ai's comprehensive suite of AI applications and generative AI capabilities position it to meet this rising demand and capture a larger market share. * **Federal and Defense Sector Expansion:** The federal market has emerged as a significant growth vector for C3.ai. The company is actively investing in this sector and has secured new and expanded agreements with various U.S. government agencies and defense contractors. Bookings across federal, defense, and aerospace increased by 89% year-over-year in Q2 FY26, representing 45% of total bookings. This accelerated federal growth is driven by the demand for secure commercial off-the-shelf (COTS) enterprise-scale AI platforms for mission-critical operations. * **Shift to Consumption-Based Pricing Model:** In early 2025, C3.ai transitioned to a consumption-based pricing model. This shift aims to lower entry barriers for mid-market customers and accelerate the adoption of enterprise AI applications. While this may lead to some short-term revenue variability, the strategy is designed to drive sustained usage and long-term revenue growth by aligning C3.ai's revenue directly with customer utilization and value realization.

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Share Repurchases

In June 2021, C3.ai's Board of Directors authorized a stock repurchase program of up to $100 million of its Class A common stock over an 18-month period.

Share Issuance

C3.ai conducted its Initial Public Offering (IPO) on December 9, 2020, raising $651 million by selling 15.5 million shares at $42 per share. This IPO increased the company's cash reserves by approximately $1 billion.
The 2020 Incentive Plan, effective with the IPO, allows for the grant of various equity awards, with reserved shares subject to automatic annual increases.
In September 2025, the company adopted the 2025 Inducement Plan, reserving 5,000,000 shares of Class A Common Stock for issuance.

Inbound Investments

As part of its December 2020 IPO, Spring Creek Capital, an affiliate of Koch Industries, committed to buying $100 million in common stock, and Microsoft committed to buying $50 million in common stock through a private placement at the IPO price.

Capital Expenditures

C3.ai's capital expenditures were forecasted at $3.791 million for 2025, $70.52 million for 2026, and $25.26 million for 2027.
Historically, C3.ai has financed its operations and capital expenditures primarily through equity issuances and cash generated from its operations.
At the start of fiscal year 2024, C3.ai shifted its focus from near-term profitability to increasing investments in its AI-oriented modules.

Interactive Breakdown

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Gen Digital

FICO (33.2x)

Fair Isaac

What You Get

Rev Chg 3Y Avg (Value for AI: 6.2%)

APP (37.0%)

AppLovin

VRSN (5.3%)

VeriSign

NVDA (101.8%)

NVIDIA

QLYS (10.6%)

Qualys

ADEA (1.1%)

Adeia

IDCC (14.8%)

InterDigital

YOU (25.6%)

Clear Secure

ADBE (10.8%)

Adobe

GEN (15.3%)

Gen Digital

FICO (16.7%)

Fair Isaac

Rev Chg LTM (Value for AI: -16.2%)

APP (66.4%)

AppLovin

VRSN (6.8%)

VeriSign

NVDA (65.5%)

NVIDIA

QLYS (10.2%)

Qualys

ADEA (17.9%)

Adeia

IDCC (1.6%)

InterDigital

YOU (17.4%)

Clear Secure

ADBE (11.0%)

Adobe

GEN (21.5%)

Gen Digital

FICO (22.6%)

Fair Isaac

Rev Chg Q (Value for AI: -46.1%)

APP (59.0%)

AppLovin

VRSN (6.6%)

VeriSign

NVDA (73.2%)

NVIDIA

QLYS (9.8%)

Qualys

ADEA (53.3%)

Adeia

IDCC (-2.4%)

InterDigital

YOU (19.7%)

Clear Secure

ADBE (12.0%)

Adobe

GEN (25.8%)

Gen Digital

FICO (38.7%)

Fair Isaac

FCF/Rev 3Y Avg (Value for AI: -27.5%)

APP (64.1%)

AppLovin

VRSN (57.7%)

VeriSign

NVDA (45.3%)

NVIDIA

QLYS (42.9%)

Qualys

ADEA (40.6%)

Adeia

IDCC (39.5%)

InterDigital

YOU (39.2%)

Clear Secure

ADBE (38.8%)

Adobe

GEN (37.6%)

Gen Digital

FICO (34.8%)

Fair Isaac

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	C3.ai Stock (+8.8%): Defense Narrative Overwhelms Earnings Collapse	03/03/2026
2	C3.ai Stock Pre-Market (-22%) : Q3 Earnings Miss, Guidance Slashed	02/26/2026
3	C3.ai Stock (-5.7%) : Sector-Wide AI Fears Amplify Pre-Earnings Jitters	02/24/2026
4	C3.ai Stock (+15%): AI Sector Rally Ignites Technical Bounce	02/07/2026
5	C3.ai Earnings Notes	12/16/2025
6	Can C3.ai Stock Recover If Markets Fall?	10/17/2025
7	How Does C3.ai Stock Stack Up Against Its Peers?	08/13/2025
8	Why C3.ai Stock Moved: AI Stock Has Lost 60% Since 2024 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)	08/08/2025
9	AI Dip Buy Analysis	07/10/2025
10	C3.ai (AI) Valuation Ratios Comparison	05/15/2025
11	ARTICLES
12	Stocks Trading At 52-Week Low	02/06/2026
13	What’s Next For C3.AI Stock?	08/12/2025
14	Market Movers \| Winners: TLRY, TGNA, MLNK \| Losers: OMI, AI, MAX	08/12/2025

	Title
0	DASHBOARDS
1	C3.ai Stock (+8.8%): Defense Narrative Overwhelms Earnings Collapse
2	C3.ai Stock Pre-Market (-22%) : Q3 Earnings Miss, Guidance Slashed
3	C3.ai Stock (-5.7%) : Sector-Wide AI Fears Amplify Pre-Earnings Jitters
4	C3.ai Stock (+15%): AI Sector Rally Ignites Technical Bounce
5	C3.ai Earnings Notes
6	Can C3.ai Stock Recover If Markets Fall?
7	How Does C3.ai Stock Stack Up Against Its Peers?
8	Why C3.ai Stock Moved: AI Stock Has Lost 60% Since 2024 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
9	AI Dip Buy Analysis
10	C3.ai (AI) Valuation Ratios Comparison
11	ARTICLES
12	Stocks Trading At 52-Week Low
13	What’s Next For C3.AI Stock?
14	Market Movers \| Winners: TLRY, TGNA, MLNK \| Losers: OMI, AI, MAX

Trade Ideas

Select ideas related to AI.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
PLTR_4302026_Monopoly_xInd_xCD_Getting_Cheaper	04302026	PLTR	Palantir Technologies	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.0%	0.0%	0.0%
ADSK_4102026_Dip_Buyer_FCFYield	04102026	ADSK	Autodesk	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	8.5%	8.5%	0.0%
BSY_4102026_Dip_Buyer_FCFYield	04102026	BSY	Bentley Systems	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	4.2%	4.2%	0.0%
ENPH_4102026_Dip_Buyer_ValueBuy	04102026	ENPH	Enphase Energy	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	5.7%	5.7%	0.0%
BL_4102026_Dip_Buyer_High_CFO_Margins_ExInd_DE	04102026	BL	BlackLine	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	3.2%	3.2%	-3.0%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
BLMN	Bloomin Brands	0.7	41.0%	31.6%
FLEX	Flex	49.7	39.7%	123.0%
HUT	Hut 8	11.8	35.3%	137.1%
NNE	Nano Nuclear Energy	1.4	27.7%	21.1%
COMP	Compass	5.3	27.3%	-12.6%
VECO	Veeco Instruments	3.7	25.2%	117.0%
VCYT	Veracyte	3.3	24.9%	-2.2%
SMCI	Super Micro Computer	20.7	24.5%	18.4%
MNKD	MannKind	1.1	24.5%	-37.2%
DVA	DaVita	13.5	23.5%	70.7%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PRIM	Primoris Services	5.5	-50.1%	-18.4%
LMB	Limbach	0.9	-32.5%	-1.1%
KVYO	Klaviyo	4.8	-32.2%	-51.3%
ATEC	Alphatec	1.1	-31.7%	-66.8%
AZTA	Azenta	0.8	-25.3%	-44.7%
TMDX	TransMedics	2.5	-23.2%	-40.1%
MNTN	MNTN	0.6	-22.8%	-26.5%
CDW	CDW	14.2	-20.3%	-19.6%
BMBL	Bumble	0.4	-20.0%	-3.9%
BFAM	Bright Horizons Family Solutions	3.7	-18.6%	-34.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
BAND	Bandwidth	1.4	91.9%	200.6%
STRL	Sterling Infrastructure	27.2	88.7%	189.4%
WOLF	Wolfspeed	1.2	68.1%	147.4%
DOCN	DigitalOcean	14.8	66.2%	234.6%
GBTG	Global Business Travel	4.9	63.7%	23.3%
HUT	Hut 8	11.8	53.4%	137.1%
KEEL	Keel Infrastructure	2.4	50.4%	90.7%
FLEX	Flex	49.7	48.7%	123.0%
RIOT	Riot Platforms	8.3	48.3%	87.1%
FTRE	Fortrea	1.5	48.1%	-9.3%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
EMBC	Embecta	0.2	-59.1%	-69.6%
WGS	GeneDx	1.0	-44.8%	-73.3%
ULH	Universal Logistics	0.4	-42.0%	-7.4%
PRIM	Primoris Services	5.5	-39.0%	-18.4%
CABO	Cable One	0.3	-38.1%	-50.6%
BRBR	BellRing Brands	1.3	-36.7%	-58.5%
CCOI	Cogent Communications	0.8	-29.3%	-23.0%
FBYD	Falcons Beyond Global	0.5	-27.4%	-20.1%
TMDX	TransMedics	2.5	-26.0%	-40.1%
ATEC	Alphatec	1.1	-24.8%	-66.8%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
MXL	MaxLinear	7.1	341.2%	366.0%
BAND	Bandwidth	1.4	159.5%	200.6%
STRL	Sterling Infrastructure	27.2	131.9%	189.4%
AXTI	AXT	4.7	130.6%	541.2%
WOLF	Wolfspeed	1.2	127.6%	147.4%
INBX	Inhibrx Biosciences	2.2	127.5%	79.5%
OGN	Organon	3.5	119.1%	87.5%
AOSL	Alpha & Omega Semiconductor	1.5	113.8%	149.0%
INTC	Intel	574.4	113.6%	206.3%
BE	Bloom Energy	75.3	110.0%	228.5%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
EMBC	Embecta	0.2	-59.7%	-69.6%
WGS	GeneDx	1.0	-48.1%	-73.3%
CABO	Cable One	0.3	-39.8%	-50.6%
ATEC	Alphatec	1.1	-36.6%	-66.8%
ERAS	Erasca	3.1	-36.1%	193.0%
CAR	Avis Budget	5.8	-35.6%	28.0%
ULH	Universal Logistics	0.4	-35.2%	-7.4%
VISN	Vistance Networks	2.7	-34.4%	-33.8%
TMDX	TransMedics	2.5	-32.1%	-40.1%
PRIM	Primoris Services	5.5	-32.0%	-18.4%

Peer Comparisons

Peers to compare with:

Financials

	AI	PLTR	SNOW	DDOG	NOW	CRM	Median
Name	C3.ai	Palantir.	Snowflake	Datadog	ServiceN.	Salesfor.
Mkt Price	9.62	133.42	139.38	145.49	89.00	181.10	136.40
Mkt Cap	1.4	319.4	47.7	51.1	92.1	169.3	71.6
Rev LTM	307	5,224	4,684	3,427	13,960	41,525	4,954
Op Inc LTM	-466	1,992	-1,435	-44	1,876	8,917	916
FCF LTM	-127	2,688	1,117	915	4,624	14,402	1,903
FCF 3Y Avg	-85	1,549	917	762	3,800	12,111	1,233
CFO LTM	-125	2,723	1,222	1,050	5,437	14,996	1,973
CFO 3Y Avg	-71	1,571	1,010	860	4,626	12,774	1,290

Growth & Margins

	AI	PLTR	SNOW	DDOG	NOW	CRM	Median
Name	C3.ai	Palantir.	Snowflake	Datadog	ServiceN.	Salesfor.
Rev Chg LTM	-16.2%	67.7%	29.2%	27.7%	21.7%	9.6%	24.7%
Rev Chg 3Y Avg	6.2%	39.6%	31.4%	27.0%	22.4%	9.8%	24.7%
Rev Chg Q	-46.1%	84.7%	30.1%	29.2%	22.1%	12.1%	25.6%
QoQ Delta Rev Chg LTM	-12.9%	16.7%	6.8%	6.7%	5.1%	3.0%	5.9%
Op Inc Chg LTM	-46.7%	391.2%	1.4%	-181.7%	26.5%	16.3%	8.9%
Op Inc Chg 3Y Avg	-20.8%	254.8%	-20.5%	41.2%	71.1%	89.0%	56.1%
Op Mgn LTM	-151.7%	38.1%	-30.6%	-1.3%	13.4%	21.5%	6.1%
Op Mgn 3Y Avg	-114.2%	19.9%	-36.6%	-0.3%	12.1%	19.6%	5.9%
QoQ Delta Op Mgn LTM	-34.5%	6.5%	3.6%	0.0%	-0.3%	-0.6%	-0.1%
CFO/Rev LTM	-40.5%	52.1%	26.1%	30.6%	38.9%	36.1%	33.4%
CFO/Rev 3Y Avg	-22.7%	41.0%	27.6%	31.4%	39.9%	33.3%	32.4%
FCF/Rev LTM	-41.3%	51.5%	23.9%	26.7%	33.1%	34.7%	29.9%
FCF/Rev 3Y Avg	-27.5%	40.4%	25.0%	27.9%	32.7%	31.6%	29.7%

Valuation

	AI	PLTR	SNOW	DDOG	NOW	CRM	Median
Name	C3.ai	Palantir.	Snowflake	Datadog	ServiceN.	Salesfor.
Mkt Cap	1.4	319.4	47.7	51.1	92.1	169.3	71.6
P/S	4.4	61.1	10.2	14.9	6.6	4.1	8.4
P/Op Inc	-2.9	160.3	-33.2	-1,151.5	49.1	19.0	8.0
P/EBIT	-2.9	160.3	-36.6	370.0	38.4	19.0	28.7
P/E	-3.1	140.0	-35.8	474.2	52.4	22.7	37.6
P/CFO	-11.0	117.3	39.0	48.7	16.9	11.3	28.0
Total Yield	-31.9%	0.7%	-2.8%	0.2%	1.9%	5.1%	0.5%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.7%	0.0%
FCF Yield 3Y Avg	-3.4%	0.9%	1.5%	1.7%	2.8%	4.5%	1.6%
D/E	0.0	0.0	0.1	0.0	0.0	0.1	0.0
Net D/E	-0.5	-0.0	-0.0	-0.1	-0.0	0.0	-0.0

Returns

	AI	PLTR	SNOW	DDOG	NOW	CRM	Median
Name	C3.ai	Palantir.	Snowflake	Datadog	ServiceN.	Salesfor.
1M Rtn	9.7%	-9.8%	-6.7%	24.9%	-13.1%	-1.9%	-4.3%
3M Rtn	-13.4%	-4.4%	-15.7%	25.7%	-19.9%	-9.0%	-11.2%
6M Rtn	-40.1%	-29.0%	-47.4%	-6.1%	-49.4%	-28.0%	-34.6%
12M Rtn	-55.9%	22.6%	-17.3%	37.2%	-53.9%	-33.3%	-25.3%
3Y Rtn	-48.6%	1,700.5%	-9.6%	90.0%	2.3%	-7.0%	-2.3%
1M Excs Rtn	-1.1%	-22.4%	-17.9%	13.4%	-22.8%	-12.1%	-15.0%
3M Excs Rtn	-20.4%	-11.4%	-22.7%	18.6%	-26.9%	-16.0%	-18.2%
6M Excs Rtn	-51.4%	-43.1%	-57.2%	-17.8%	-58.8%	-37.9%	-47.2%
12M Excs Rtn	-86.6%	-22.5%	-47.2%	6.9%	-84.8%	-63.4%	-55.3%
3Y Excs Rtn	-125.2%	1,538.4%	-81.7%	44.8%	-77.9%	-83.8%	-79.8%

Comparison Analyses

	Title
0	How Does C3.ai Stock Stack Up Against Its Peers?

FDIC Bank Data

$ Mil \| FY: 4/30	LTM	2025	2024	2023	2022	2021	2020
Period End	1/31/2026	4/30/2025	4/30/2024	4/30/2023	4/30/2022	4/30/2021	4/30/2020
Filing Date	3/11/2026	6/23/2025	6/18/2024	6/22/2023	6/23/2022	6/25/2021	12/9/2020
Key Financials
Total Revenue	307	389	311	267	253	183	157
EBITDA	-453	-312	-306	-284	-191	-56	-70
Operating Income	-466	-324	-318	-290	-196	-60	-71
Net Income	-435	-289	-280	-269	-192	-56	-69
EPS	-3.15	-2.24	-2.34	-2.45	-1.84	-0.90	-0.94
Growth Rates
Total Revenue Growth	-16.2%	25.3%	16.4%	5.6%	38.0%	16.9%	71.0%
EBITDA Growth	-48.3%	-2.0%	-7.5%	-49.0%	-241.2%	20.3%	-97.8%
Operating Income Growth	-46.7%	-1.9%	-9.6%	-48.1%	-225.5%	15.7%	-98.4%
Net Income Growth	-54.1%	-3.2%	-4.0%	-40.0%	-244.8%	19.7%	-108.1%
Margins
EBITDA Margin	-147.3%	-80.1%	-98.4%	-106.6%	-75.5%	-30.5%	-44.8%
Operating Income Margin	-151.7%	-83.4%	-102.5%	-108.9%	-77.6%	-32.9%	-45.6%
Net Income Margin	-141.4%	-74.2%	-90.1%	-100.8%	-76.0%	-30.4%	-44.3%
Cash & Debt
Total Cash	622	743	750	731	960	1,093	245
Total Debt	5	5	3	2	4	4	0
Net Debt / (Cash)	-617	-738	-747	-729	-957	-1,089	-245
Cash Flows
Net Cash from Operations	-125	-41	-62	-116	-86	-38	-61
Free Cash from Operations	-127	-44	-90	-187	-91	-39	-64
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	15	-0	4

$ Mil \| FY: 4/30	2026Q3	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4
Period End	1/31/2026	10/31/2025	7/31/2025	4/30/2025	1/31/2025	10/31/2024	7/31/2024	4/30/2024	1/31/2024	10/31/2023	7/31/2023	4/30/2023
Filing Date	3/11/2026	12/9/2025	9/9/2025	6/23/2025	3/7/2025	12/10/2024	9/5/2024	6/18/2024	2/29/2024	12/7/2023	9/7/2023	6/22/2023
Key Financials Quarterly
Total Revenue	53	75	70	109	99	94	87	87	78	73	72	72
Ebitda	-137	-109	-121	-86	-84	-72	-69	-79	-79	-76	-71	-70
Operating Income	-140	-112	-125	-89	-88	-75	-73	-82	-83	-79	-74	-73
Net Income	-133	-105	-117	-80	-80	-66	-63	-73	-73	-70	-64	-65
EPS	-0.94	-0.75	-0.86	-0.60	-0.62	-0.52	-0.50	-0.59	-0.60	-0.59	-0.56	-0.58
Key Financials TTM
Total Revenue TTM	307	353	372	389	367	347	325	311	296	285	274	267
Ebitda TTM	-453	-400	-364	-312	-305	-300	-304	-306	-297	-289	-284	-284
Operating Income TTM	-466	-413	-377	-324	-318	-313	-317	-318	-309	-299	-291	-290
Net Income TTM	-435	-381	-343	-289	-282	-274	-278	-280	-272	-262	-261	-269
Growth Rates Quarterly
Total Revenue Growth	-46.1%	-20.3%	-19.4%	25.6%	26.0%	28.8%	20.5%	19.6%	17.6%	17.3%	10.8%	0.1%
EBITDA Growth	-62.2%	-50.3%	-74.8%	-8.2%	-6.5%	5.1%	2.2%	-12.2%	-11.4%	-7.3%	1.0%	-27.9%
Operating Income Growth	-60.3%	-48.9%	-72.0%	-8.1%	-6.1%	5.2%	2.0%	-12.3%	-14.6%	-10.3%	-1.2%	-29.6%
Net Income Growth	-66.3%	-58.7%	-85.9%	-9.3%	-10.4%	5.5%	2.4%	-12.3%	-15.0%	-1.4%	10.5%	-11.2%
Margins Quarterly
EBITDA Margin	-257.2%	-144.7%	-172.8%	-78.7%	-85.5%	-76.7%	-79.7%	-91.3%	-101.1%	-104.1%	-98.2%	-97.3%
Operating Income Margin	-263.6%	-149.2%	-177.7%	-81.8%	-88.7%	-79.8%	-83.2%	-95.1%	-105.3%	-108.4%	-102.4%	-101.2%
Net Income Margin	-250.4%	-139.3%	-166.2%	-73.3%	-81.2%	-69.9%	-72.0%	-84.2%	-92.6%	-95.3%	-88.9%	-89.7%
Cash & Debt
Total Cash	622	675	712	743	724	730	763	750	723	762	751	731
Total Debt	5	5	5	5	4	4	4	3	3	3	2	2
Net Debt / (Cash)	-617	-670	-707	-738	-720	-726	-759	-747	-720	-760	-748	-729
Cash Flows Quarterly
FCF from Operations	-56	-46	-34	11	-22	-39	8	21	-39	-49	4	27
Cash Flows TTM
FCF from Operations TTM	-125	-91	-83	-41	-31	-48	-58	-62	-57	-70	-73	-116
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-30.6%	-26.3%	-31.5%	-24.1%	-24.3%	-22.3%	-22.9%	-27.0%	-27.6%	-29.0%	-28.0%	-29.0%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-25.4%	-24.3%	-23.7%	-21.9%	-22.1%	-23.1%	-25.0%	-26.2%	-25.9%	-27.3%	-27.5%	-28.7%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Subscriptions	278
Professional services	32		46	26	21
Single Segment		267
Subscription			207	157	135
Total	311	267	253	183	157

Price Behavior

Price Behavior

Market Price	$9.60
Market Cap ($ Bil)	1.4
First Trading Date	12/09/2020
Distance from 52W High	-67.1%
	50 Days	200 Days
DMA Price	$8.83	$14.30
DMA Trend	down	down
Distance from DMA	8.7%	-32.9%
	3M	1YR
Volatility	76.8%	67.8%
Downside Capture	2.13	2.15
Upside Capture	240.95	193.49
Correlation (SPY)	48.3%	46.7%

AI Betas & Captures as of 4/30/2026

	1M	2M	3M	6M	1Y	3Y
Beta	2.21	1.63	2.57	2.55	2.58	2.15
Up Beta	1.43	0.87	2.06	2.31	2.25	1.53
Down Beta	2.35	1.04	0.48	1.87	1.94	1.62
Up Capture	199%	236%	274%	225%	294%	4314%
Bmk +ve Days	15	22	31	66	141	428
Stock +ve Days	12	24	31	59	113	362
Down Capture	968%	193%	325%	247%	204%	113%
Bmk -ve Days	4	18	30	56	108	321
Stock -ve Days	10	19	33	66	135	384

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with AI
AI	-56.2%	67.8%	-0.94	-
Sector ETF (XLK)	59.0%	20.6%	2.14	47.8%
Equity (SPY)	28.5%	12.5%	1.78	47.5%
Gold (GLD)	40.6%	27.2%	1.23	10.7%
Commodities (DBC)	50.9%	18.0%	2.20	4.0%
Real Estate (VNQ)	12.8%	13.5%	0.65	21.4%
Bitcoin (BTCUSD)	-14.2%	42.1%	-0.25	38.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with AI
AI	-32.1%	78.2%	-0.16	-
Sector ETF (XLK)	20.1%	24.8%	0.72	46.6%
Equity (SPY)	12.7%	17.1%	0.58	45.6%
Gold (GLD)	21.0%	17.9%	0.96	6.6%
Commodities (DBC)	13.9%	19.1%	0.60	8.5%
Real Estate (VNQ)	3.5%	18.8%	0.09	35.1%
Bitcoin (BTCUSD)	8.7%	56.1%	0.37	26.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with AI
AI	-20.2%	82.4%	-0.15	-
Sector ETF (XLK)	24.3%	24.4%	0.90	44.8%
Equity (SPY)	14.9%	17.9%	0.71	43.1%
Gold (GLD)	13.7%	16.0%	0.71	5.8%
Commodities (DBC)	9.5%	17.7%	0.45	9.0%
Real Estate (VNQ)	5.7%	20.7%	0.24	32.5%
Bitcoin (BTCUSD)	68.4%	66.9%	1.07	23.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	4152026
Short Interest: Shares Quantity	44.0 Mil
Short Interest: % Change Since 3312026	4.2%
Average Daily Volume	4.5 Mil
Days-to-Cover Short Interest	9.8 days
Basic Shares Quantity	142.0 Mil
Short % of Basic Shares	31.0%

Returns Analyses

	Title
0	Can C3.ai Stock Recover If Markets Fall?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
2/25/2026	-18.5%	-9.9%	-19.4%
12/3/2025	2.1%	5.4%	-5.7%
8/11/2025	2.7%	10.5%	-5.2%
5/28/2025	20.8%	14.1%	5.3%
2/26/2025	-9.7%	-14.4%	-14.8%
12/9/2024	0.1%	3.0%	-22.2%
9/4/2024	-8.2%	-7.0%	0.1%
5/29/2024	19.4%	27.8%	21.1%
...
SUMMARY STATS
# Positive	10	11	7
# Negative	10	9	13
Median Positive	13.6%	9.3%	5.3%
Median Negative	-10.6%	-9.9%	-13.6%
Max Positive	33.6%	30.2%	122.0%
Max Negative	-19.3%	-19.0%	-30.6%

	Forward Returns
2/25/2026	-18.5%	-9.9%	-19.4%
12/3/2025	2.1%	5.4%	-5.7%
8/11/2025	2.7%	10.5%	-5.2%
5/28/2025	20.8%	14.1%	5.3%
2/26/2025	-9.7%	-14.4%	-14.8%
12/9/2024	0.1%	3.0%	-22.2%
9/4/2024	-8.2%	-7.0%	0.1%
5/29/2024	19.4%	27.8%	21.1%
2/28/2024	24.5%	9.3%	-8.8%
12/6/2023	-10.8%	-3.5%	-2.0%
9/6/2023	-12.2%	-11.7%	-23.0%
5/15/2023	23.4%	30.2%	122.0%
3/2/2023	33.6%	6.5%	57.5%
12/7/2022	7.7%	8.8%	-6.3%
8/31/2022	-19.3%	-19.0%	-30.6%
6/1/2022	-5.0%	11.8%	3.2%
3/2/2022	3.4%	-5.6%	0.2%
12/1/2021	-11.2%	0.5%	-7.6%
9/1/2021	-10.2%	-4.7%	-13.6%
6/2/2021	-10.4%	-18.5%	-16.2%
SUMMARY STATS
# Positive	10	11	7
# Negative	10	9	13
Median Positive	13.6%	9.3%	5.3%
Median Negative	-10.6%	-9.9%	-13.6%
Max Positive	33.6%	30.2%	122.0%
Max Negative	-19.3%	-19.0%	-30.6%

SEC Filings

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Report Date	Filing Date	Filing
01/31/2026	03/11/2026	10-Q
10/31/2025	12/09/2025	10-Q
07/31/2025	09/09/2025	10-Q
04/30/2025	06/23/2025	10-K
01/31/2025	03/07/2025	10-Q
10/31/2024	12/10/2024	10-Q
07/31/2024	09/05/2024	10-Q
04/30/2024	06/18/2024	10-K
01/31/2024	02/29/2024	10-Q
10/31/2023	12/07/2023	10-Q
07/31/2023	09/07/2023	10-Q
04/30/2023	06/22/2023	10-K
01/31/2023	03/03/2023	10-Q
10/31/2022	12/08/2022	10-Q
07/31/2022	09/01/2022	10-Q
04/30/2022	06/23/2022	10-K

Recent Forward Guidance [BETA]

Latest: Q3 2026 Earnings Reported 2/25/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q4 2026 Total Revenue	48.00 Mil	50.00 Mil	52.00 Mil	-34.2%		Lower New	Guidance: 76.00 Mil for Q3 2026
Q4 2026 Non-GAAP loss from operations	-64.00 Mil	-60.00 Mil	-56.00 Mil	25.0%		Lowered	Guidance: -48.00 Mil for Q3 2026
2026 Total Revenue	246.70 Mil	248.70 Mil	250.70 Mil	-17.0%		Lowered	Guidance: 299.50 Mil for 2026
2026 Non-GAAP loss from operations	-227.50 Mil	-223.50 Mil	-219.50 Mil	14.3%		Lowered	Guidance: -195.50 Mil for 2026
2026 Annual cost savings		135.00 Mil

Prior: Q2 2026 Earnings Reported 12/3/2025

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q3 2026 Total Revenue	72.00 Mil	76.00 Mil	80.00 Mil
Q3 2026 Non-GAAP loss from operations	-52.00 Mil	-48.00 Mil	-44.00 Mil	-10.3%		Raised	Guidance: -53.50 Mil for Q2 2026
2026 Total Revenue	289.50 Mil	299.50 Mil	309.50 Mil
2026 Non-GAAP loss from operations	-210.50 Mil	-195.50 Mil	-180.50 Mil

Insider Activity

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Siebel, Thomas M	Executive Chairman	Direct	Sell	5052026	9.27	27,210	252,237	6,936,528	Form
2	Siebel, Thomas M	Executive Chairman	Direct	Sell	4152026	8.49	165,278	1,403,210	6,132,853	Form
3	Siebel, Thomas M	Executive Chairman	Direct	Sell	4152026	8.31	326,189	2,710,631	6,002,828	Form
4	Snabe, Jim H		Direct	Sell	3312026	8.08	10,000	80,800	3,110,800	Form
5	Snabe, Jim H		Direct	Buy	3312026	7.73	10,000	77,300	3,053,350	Form

Collapse to Preview

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Siebel, Thomas M	Executive Chairman	Direct	Sell	5052026	9.27	27,210	252,237	6,936,528	Form
2	Siebel, Thomas M	Executive Chairman	Direct	Sell	4152026	8.49	165,278	1,403,210	6,132,853	Form
3	Siebel, Thomas M	Executive Chairman	Direct	Sell	4152026	8.31	326,189	2,710,631	6,002,828	Form
4	Snabe, Jim H		Direct	Sell	3312026	8.08	10,000	80,800	3,110,800	Form
5	Snabe, Jim H		Direct	Buy	3312026	7.73	10,000	77,300	3,053,350	Form
6	Lath, Hitesh	CHIEF FINANCIAL OFFICER	Direct	Sell	3172026	8.98	15,248	136,927	2,140,006	Form
7	Siebel, Thomas M	Executive Chairman	Direct	Sell	3132026	9.11	23,435	213,493	6,775,043	Form
8	Snabe, Jim H		Direct	Buy	3102026	9.00	25,000	225,000	3,555,000	Form
9	Siebel, Thomas M	Executive Chairman	Direct	Sell	3032026	7.79	17,655	137,532	5,744,681	Form
10	Siebel, Thomas M	Executive Chairman	Direct	Sell	2122026	11.66	511,732	5,966,795	8,422,741	Form
11	Siebel, Thomas M	Executive Chairman	Direct	Sell	2032026	10.81	27,605	298,410	8,084,604	Form
12	Siebel, Thomas M	Executive Chairman	Direct	Sell	1142026	13.52	212,586	2,874,163	9,766,334	Form
13	Siebel, Thomas M	Executive Chairman	See Footnote	Sell	1142026	13.52	309,589	4,185,643	8,548,101	Form
14	Ehikian, Stephen Bradley	Chief Executive Officer	Direct	Sell	1022026	13.56	234,918	3,185,488	12,530,443	Form
15	Siebel, Thomas M	Executive Chairman	See Footnote	Sell	12182025	14.22	140,768	2,001,721	13,393,036	Form
16	Siebel, Thomas M	Executive Chairman	See Footnote	Sell	12182025	14.37	392,064	5,633,960	15,557,149	Form
17	Lath, Hitesh	CHIEF FINANCIAL OFFICER	Direct	Sell	12172025	14.38	15,042	216,304	3,208,466	Form
18	Siebel, Thomas M	Executive Chairman	Direct	Sell	12152025	15.94	23,000	366,620	11,861,416	Form
19	Siebel, Thomas M	Executive Chairman	Direct	Sell	12032025	14.21	17,000	241,570	223,609	Form
20	Siebel, Thomas M	Executive Chairman	See Footnote	Sell	11122025	15.24	543,706	8,286,079	21,902,532	Form
21	Siebel, Thomas M	Executive Chairman	Direct	Sell	11042025	17.30	27,545	476,528	442,534	Form
22	Siebel, Thomas M	Executive Chairman	See Footnote	Sell	10152025	18.82	554,802	10,441,374	36,798,746	Form
23	Schilling, Robert David	EVP & Chief Commercial Officer	Direct	Sell	10022025	17.29	470,420	8,133,515	17,485,743	Form
24	Lath, Hitesh	CHIEF FINANCIAL OFFICER	Direct	Sell	9172025	16.99	46,881	796,508	3,553,526	Form
25	Siebel, Thomas M	Executive Chairman	See Footnote	Sell	9172025	17.23	566,125	9,754,334	43,249,057	Form
26	Siebel, Thomas M	Executive Chairman	Direct	Sell	9152025	16.33	92,000	1,502,360	1,422,653	Form
27	Siebel, Thomas M	Executive Chairman	Direct	Sell	9032025	16.49	17,200	283,628	256,189	Form
28	Siebel, Thomas M	CHIEF EXECUTIVE OFFICER	See Footnote	Sell	8142025	16.78	577,678	9,693,437	49,896,538	Form
29	Siebel, Thomas M	CHIEF EXECUTIVE OFFICER	Direct	Sell	8052025	22.77	336,000	7,650,720	7,375,567	Form
30	Siebel, Thomas M	CHIEF EXECUTIVE OFFICER	See Footnote	Sell	7222025	28.58	589,468	16,844,450	92,223,269	Form
31	Lath, Hitesh	CHIEF FINANCIAL OFFICER	Direct	Sell	6302025	24.96	17,689	441,604	4,149,619	Form
32	Lath, Hitesh	CHIEF FINANCIAL OFFICER	Direct	Sell	6172025	24.19	6,040	146,108	150,413	Form
33	Witteveen, Merel	Senior VP, Operations	Direct	Sell	6172025	23.95	5,485	131,366	329,073	Form
34	Hyten, John E		See Footnote	Sell	6172025	23.75	10,000	237,500	1,518,622	Form
35	Sewell, D Bruce		Direct	Sell	6132025	26.00	79			Form
36	Siebel, Thomas M	CHIEF EXECUTIVE OFFICER	See Footnote	Sell	6122025	25.02	601,498	15,051,342	95,508,203	Form
37	Witteveen, Merel	Senior VP, Operations	Direct	Sell	6092025	26.23	1,710	44,853	241,972	Form
38	Siebel, Thomas M	CHIEF EXECUTIVE OFFICER	Direct	Sell	6032025	26.30	17,000	447,100	413,857	Form
39	Levin, Richard C		Direct	Sell	6022025	26.31	6,000	157,860	4,253,380	Form
40	Lath, Hitesh	CHIEF FINANCIAL OFFICER	Direct	Sell	6022025	29.45	4,368	128,652	7,363	Form
41	Ward, Jr Stephen M		Direct	Sell	6022025	26.32	42,382	1,115,494	14,383,748	Form
42	Witteveen, Merel	Senior VP, Operations	Direct	Sell	6022025	27.63	4,951	136,794	215,788	Form
43	Levin, Richard C		Direct	Sell	6022025	28.17	36,000	1,014,120	4,554,075	Form
44	Witteveen, Merel	Senior VP, Operations	Direct	Sell	5282025	23.56	805	18,966	300,649	Form
45	Witteveen, Merel	Senior VP, Operations	Direct	Sell	5202025	23.32	5,719	133,367	281,379	Form
46	Siebel, Thomas M	CHIEF EXECUTIVE OFFICER	See Footnote	Sell	5152025	23.99	272,079	6,527,175	105,617,510	Form
47	Siebel, Thomas M	CHIEF EXECUTIVE OFFICER	See Footnote	Sell	5152025	24.00	341,698	8,200,752	112,191,432	Form
48	Siebel, Thomas M	CHIEF EXECUTIVE OFFICER	Direct	Sell	5052025	22.27	27,010	601,634	581,699	Form

AI Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

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STOCK ARCHETYPE

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Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

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Mechanism: null

Supporting Evidence:

PRIMARY RISK

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Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

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Diversification Alternatives

How Is The Market Pricing AI?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What AI Makes & Who Pays

TTM figures based on

AI Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

Industry Resources

Technology Hardware, Storage & Peripherals Resources

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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C3.ai (AI)

Market Price (5/6/2026): $9.62 | Market Cap: $1.4 BilSector: Information Technology | Industry: Technology Hardware, Storage & Peripherals

C3.ai (AI)

Market Price (5/6/2026): $9.62Market Cap: $1.4 BilSector: Information TechnologyIndustry: Technology Hardware, Storage & Peripherals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About C3.ai (AI)

Major Customers of C3.ai (AI)

Interactive Breakdown

Better Bets vs. C3.ai (AI)

INDUSTRY: Technology Hardware, Storage & Peripherals

Higher Rev Chg 3Y Avg | Lower P/S (Values for AI: 6.2% | 4.4x)

Higher Rev Chg LTM (Value for AI: -16.2%)

Higher Rev Chg 3Y Avg (Value for AI: 6.2%)

Higher Op Mgn LTM (Value for AI: -151.7%)

Higher CFO/Rev LTM (Value for AI: -40.5%)

Higher FCF/Rev LTM (Value for AI: -41.3%)

Higher Total Yield (Value for AI: -31.9%)

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for AI: 6.2% | 4.4x)

Higher Rev Chg LTM (Value for AI: -16.2%)

Higher Rev Chg 3Y Avg (Value for AI: 6.2%)

Higher Op Mgn LTM (Value for AI: -151.7%)

Higher CFO/Rev LTM (Value for AI: -40.5%)

Higher FCF/Rev LTM (Value for AI: -41.3%)

Higher Total Yield (Value for AI: -31.9%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for AI: 6.2% | 4.4x)

Higher Rev Chg LTM (Value for AI: -16.2%)

Higher Rev Chg 3Y Avg (Value for AI: 6.2%)

Higher Op Mgn LTM (Value for AI: -151.7%)

Higher CFO/Rev LTM (Value for AI: -40.5%)

Higher FCF/Rev LTM (Value for AI: -41.3%)

Higher Total Yield (Value for AI: -31.9%)

Best Bets in Information Technology

P/EBIT (Value for AI: -2.9x)

P/E (Value for AI: -3.1x)

Rev Chg 3Y Avg (Value for AI: 6.2%)

Rev Chg LTM (Value for AI: -16.2%)

Rev Chg Q (Value for AI: -46.1%)

FCF/Rev 3Y Avg (Value for AI: -27.5%)

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Market Price (5/6/2026): $9.62 | Market Cap: $1.4 Bil
Sector: Information Technology | Industry: Technology Hardware, Storage & Peripherals

Market Price (5/6/2026): $9.62
Market Cap: $1.4 Bil
Sector: Information Technology
Industry: Technology Hardware, Storage & Peripherals