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

• Salesforce for enterprise AI applications. (Just as Salesforce provides a cloud platform and applications for CRM, C3.ai offers a platform and pre-built applications for large-scale enterprise AI.)
• SAP for AI-powered industry solutions. (Similar to how SAP provides comprehensive, industry-specific software for core business functions, C3.ai delivers AI applications and a platform tailored for specific industries like energy, manufacturing, and financial services.)

• C3 AI Platform: A comprehensive enterprise AI platform that provides tools and infrastructure for developing, deploying, and operating AI applications at scale. (Service Category: Enterprise AI Platform as a Service - PaaS)
• C3 AI Applications: A suite of pre-built, industry-specific AI applications designed to address critical business challenges such as predictive maintenance, fraud detection, and supply chain optimization. (Service Category: Enterprise AI Software as a Service - SaaS)
• C3 Generative AI Product Suite: Integrates advanced generative AI capabilities into their platform and applications to enhance enterprise search, data analysis, and content generation for specific business use cases. (Service Category: Enterprise Generative AI Solutions)

• Baker Hughes (BKR): A global energy technology company. Baker Hughes is a long-standing strategic partner and a significant customer, having formed a joint venture known as BakerHughesC3.ai (BHC3).
• U.S. Department of Defense (DoD): C3.ai has secured substantial contracts with various branches of the U.S. Department of Defense, including the U.S. Air Force, the Missile Defense Agency, and others, providing AI solutions for predictive maintenance, readiness, and other operational intelligence. (Note: The DoD is a government entity, not a public company, and therefore has no stock symbol.)
• Shell plc (SHEL): One of the world's largest energy and petrochemical companies, utilizing C3.ai's platform for various applications, including predictive maintenance and reliability.
• Con Edison (ED): A major U.S. utility company that uses C3.ai's solutions for improving grid reliability, asset management, and predictive maintenance across its infrastructure.

• Microsoft (MSFT)
• Alphabet (GOOGL)
• Amazon.com (AMZN)
• Snowflake (SNOW)

Stephen Ehikian, Chief Executive Officer

Stephen Ehikian is a seasoned technology executive in the enterprise software industry and a public-sector leader. He successfully built and scaled 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. Mr. Ehikian also served as President Trump's appointee as Acting Administrator of the U.S. General Services Administration (GSA), where he spearheaded historic reforms in federal procurement and technology modernization, pioneering AI adoption, and unlocking billions in taxpayer savings. He was appointed CEO of C3.ai effective September 1, 2025.

Hitesh Lath, Senior Vice President and Chief Financial Officer

Hitesh Lath was appointed Chief Financial Officer of C3.ai effective March 1, 2024. Prior to this role, he served as C3.ai's Vice President and Chief Accounting Officer from December 2023 to February 2024. Before joining C3.ai, Mr. Lath spent over 22 years with EY, most recently as a partner in their San Jose, CA office, where he catered to the needs of various technology clients.

Thomas M. Siebel, Executive Chairman

Thomas M. Siebel founded C3.ai in 2009 and served as its Chief Executive Officer and Chairman until September 2025, leading the company through a successful initial public offering. Before founding C3.ai, Mr. Siebel founded and served as the Chief Executive Officer of Siebel Systems, which merged with Oracle Corporation in January 2006 for $5.86 billion. Siebel Systems became a global leader in application software, employing over 8,000 people across 32 countries, serving more than 4,500 corporate customers, and generating annual revenue exceeding $2 billion. He was also an executive at Oracle Corporation from 1984 to 1990 and CEO of Gain Technology, a multimedia software company that later merged with Sybase. 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 C3.ai's Chief Technology Officer since July 2011. He previously held the position of Chief Executive Officer from September 2009 to July 2011. Prior to joining C3.ai, Mr. Abbo 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 subsequently as Senior Vice President of Oracle Corporation from January 2006 to July 2009.

Rob Schilling, Executive Vice President and Chief Commercial Officer

Rob Schilling is the Executive Vice President and Chief Commercial Officer at C3.ai, where he oversees all customer-facing operations. He brings decades of experience in technical enterprise sales. Most recently, Mr. Schilling was the Senior Vice President of ERP Sales for Oracle's North America Applications division. Before his time at Oracle, he served as CEO at SpaceTime through its acquisition by Nokia, and also held Senior Vice President & General Manager roles at SAP.

The primary clear emerging threat to C3.ai stems from the rapid expansion and increasing sophistication of enterprise AI/ML platforms and services offered by major cloud hyperscalers such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). These hyperscalers are aggressively developing and marketing comprehensive, end-to-end solutions for building, deploying, and managing AI applications at scale, often directly competing with C3.ai's core platform and applications.

• Deep Integration and Ecosystem Advantage: Hyperscalers offer native integration with their vast ecosystems of cloud infrastructure, data storage, and other enterprise services. This often makes it more appealing for companies already heavily invested in one cloud provider to adopt that provider's AI/ML stack, potentially reducing the perceived need for a third-party platform like C3.ai.
• Resource Scale and Innovation: With immense financial and engineering resources, these companies can rapidly innovate, offer competitive pricing, and continuously enhance their AI/ML capabilities, from foundational models to specialized services (e.g., AWS SageMaker, Azure Machine Learning, Google Vertex AI).
• Existing Customer Relationships: Hyperscalers have established relationships with a vast number of enterprise clients who may prefer to consolidate their AI/ML vendors within their existing cloud provider agreements, simplifying vendor management and procurement.

This trend represents a clear emerging threat as enterprises evaluate whether to leverage their existing cloud provider's increasingly robust AI/ML offerings or integrate a specialized platform like C3.ai. This mirrors historical disruptions where large, integrated platforms (e.g., Apple's iPhone) or convenient, scalable services (e.g., Netflix streaming) gained market share by leveraging existing reach and delivering compelling, often more integrated, alternatives.

C3.ai (symbol: AI) operates within the broader Enterprise AI, Industrial AI, and Agentic AI markets. The addressable market sizes for their main products and services are as follows:

• Global Enterprise Artificial Intelligence (AI) Market: The global enterprise AI market is estimated at USD 20.93 billion in 2025 and is anticipated to reach approximately USD 560.74 billion by 2034.
• U.S. Enterprise Artificial Intelligence (AI) Market: The U.S. enterprise AI market size was USD 5.71 billion in 2025 and is expected to grow to around USD 156.15 billion by 2034.
• Global Industrial AI Market: The global industrial AI market is projected to grow from USD 6.35 billion in 2025 to USD 191.76 billion by 2034.
• Global Agentic AI Market: The agentic AI market has a potential of USD 2 trillion.

C3.ai (NYSE: AI) is poised for future revenue growth over the next 2-3 years, driven by several key initiatives and market trends:

1. Expansion of Generative AI Product Offerings: C3.ai has launched numerous generative AI products and is experiencing significant market interest in these offerings. For instance, in fiscal Q4 2024, the company received over 50,000 inquiries from more than 3,000 businesses related to its generative AI products. The company continues to differentiate its C3 Generative AI by introducing capabilities like agentic data extraction, which streamlines data analysis from unstructured formats, further enhancing its appeal across various industries.
2. Accelerated Adoption of Consumption Pricing Model: The shift to a consumption pricing model is accelerating and is expected to boost revenue growth by providing greater visibility and aligning costs with usage for customers. This model has been noted as a contributor to C3.ai's consistent subscription revenue growth.
3. Growth Through Strategic Partner Network and Integrator Program: C3.ai is actively expanding its partner network and strategic integrator program, aiming to license its C3 Agentic AI Platform to partners. This strategy allows partners to build and commercialize Enterprise AI applications, thereby extending C3.ai's market reach and generating new revenue streams through indirect channels.
4. Post-Restructuring Sales and Services Efficiency: Following a restructuring of its global sales and services organization, including new leadership appointments, C3.ai is positioned to improve its sales execution and operational efficiency. While recent quarterly results were impacted by this transition, the completion of the restructuring is expected to enable the company to resume a "hyper-growth trajectory" by enhancing its ability to acquire new customers and close agreements across diverse industries.
5. Increased Customer Acquisition and Pilot Conversions: Despite some recent challenges, C3.ai continues to focus on securing new agreements and converting pilot programs into full deployments. The company closed 66 agreements in a recent quarter, with 50 of those being pilots, including generative AI pilots. Successfully converting these pilots and acquiring new customers, particularly with the enhanced generative AI offerings and a more efficient sales structure, will be a significant driver of subscription revenue.

Share Repurchases

• In June 2021, C3.ai's Board of Directors authorized a stock repurchase program for up to $100 million of its Class A common stock over an 18-month period.
• C3.ai's quarterly stock buybacks were reported as -$1.289 million for July 31, 2025.

Share Issuance

• In December 2020, C3.ai completed its initial public offering (IPO), issuing 15,500,000 shares of Class A common stock at $42.00 per share, generating approximately $651 million in gross proceeds.
• Concurrent with the IPO, Spring Creek Capital and Microsoft purchased $100 million and $50 million, respectively, in a private placement at the IPO price.
• The number of shares outstanding for C3.ai increased by 8.22% in one year.

Inbound Investments

• At the time of its IPO in December 2020, C3.ai received strategic inbound investments totaling $150 million through a private placement.
• These investments included $100 million from Spring Creek Capital, an affiliate of Koch Industries, and $50 million from Microsoft.

Outbound Investments

• C3.ai has not reported making any investments in or acquisitions of other companies within the last 3-5 years.

Capital Expenditures

• C3.ai's capital expenditures margin averaged 7.5% for fiscal years ending April 2021 to 2025, reaching a peak of 26.4% in April 2023.
• The company's latest twelve months' capital expenditures were approximately -$2.88 million.
• In fiscal year 2022, C3.ai opened an enterprise AI application development center in Guadalajara, Mexico, to expand its AI application development capacity.