C3.ai (stylized as C3 AI) is an American information technology company specializing in enterprise artificial intelligence. Based in Redwood City, California, the company was founded in 2009 by Thomas Siebel and became a public company in 2020 on the New York Stock Exchange.3 Its chief executive is Stephen Ehikian (since 2025).1Wikipedia text CC BY-SA 4.0
$11.87up 0.20 (1.67%)Price as of Oct 15, 2026 at 17:33 UTC
C3.ai (stylized as C3 AI) is an American information technology company specializing in enterprise artificial intelligence. Based in Redwood City, California, the company was founded in 2009 by Thomas Siebel and became a public company in 2020 on the New York Stock Exchange.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Out of $250.3M in revenue.7 The company lost money this year.
Financial statements
Revenue11121314157$250.3M in 2026+173% since 2019Gross profit11121314157$77.4M in 2026+26% since 2019Operating income11121314157-$498.5M in 2026+1283% since 2019Net income11121314157-$470.4M in 2026+1311% since 2019
Revenue161718$52.4M in Q1 FY2026−25% since Q1 FY2025Gross profit161718$16.7M in Q1 FY2026−37% since Q1 FY2025Operating income161718-$98.3M in Q1 FY2026−21% since Q1 FY2025Net income161718-$92.8M in Q1 FY2026−21% since Q1 FY2025
Every line of the income statement as filed: the last 3 fiscal years, latest first.7
Period ending
2026-04-30
2025-04-30
2024-04-30
Total revenue
$250.3M
$389.1M
$310.6M
Total cost of revenue
$172.9M
$153.2M
$132.0M
Gross profit
$77.4M
$235.9M
$178.6M
Sales and marketing
$237.4M
$239.7M
$214.2M
Research and development
$229.1M
$226.4M
$201.4M
General and administrative
$98.6M
$94.2M
$81.4M
Restructuring
$10.8M
$0
$0
Total operating expenses
$575.9M
$560.3M
$496.9M
Loss from operations
-$498.5M
-$324.4M
-$318.3M
Interest income
$28.4M
$36.2M
$40.1M
Other income (expense), net
$504.0K
$509.0K
-$641.0K
Loss before provision for income taxes
-$469.5M
-$287.7M
-$278.9M
Provision for income taxes
$822.0K
$976.0K
$792.0K
Net loss
-$470.4M
-$288.7M
-$279.7M
Net loss per share attributable to Class A and B common stockholders, basic (in dollars per share)
-$3.35
-$2.24
-$2.34
Net loss per share attributable to Class A and B common stockholders, diluted (in dollars per share)
-$3.35
-$2.24
-$2.34
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic (in shares)
140.5M shares
129.1M shares
119.4M shares
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted (in shares)
140.5M shares
129.1M shares
119.4M shares
No quarter-by-quarter statement was filed.
Total assets11121314157$816.3M in 2026+168% since 2020Total liabilities11121314157$162.5M in 2026+73% since 2020Shareholders’ equity121314157$653.8M in 2026Cash11121314157$66.2M in 2026−33% since 2019
Total assets18191716$874.8M in Q1 FY2026−15% since Q3 FY2025Total liabilities18191716$179.9M in Q1 FY2026−4% since Q3 FY2025Shareholders’ equity181617$694.9M in Q1 FY2026−17% since Q3 FY2025Cash181617$136.4M in Q1 FY2026−17% since Q3 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.7
Period ending
2026-04-30
2025-04-30
2024-04-30
2023-04-30
Cash and cash equivalents
$66.2M
$164.4M
$167.1M
Marketable securities
$509.3M
$578.3M
Accounts receivable, net of allowance of $1,065 and $877 as of April 30, 2026 and 2025, respectively
$100.5M
$137.2M
Prepaid expenses and other current assets
$32.0M
$24.3M
Total current assets
$708.0M
$904.3M
Property and equipment, net
$66.9M
$79.3M
Goodwill
$625.0K
$625.0K
Other assets, non-current
$40.8M
$41.7M
Total assets
$816.3M
$1.0B
Accounts payable
$5.5M
$15.2M
Accrued compensation and employee benefits
$48.6M
$53.9M
Deferred revenue, current
$34.9M
$36.6M
Accrued and other current liabilities
$17.6M
$26.3M
Total current liabilities
$106.6M
$131.9M
Deferred revenue, non-current
$1.6M
$0
Other long-term liabilities
$54.4M
$55.7M
Total liabilities
$162.5M
$187.6M
Additional paid-in capital
$2.5B
$2.2B
Accumulated other comprehensive (loss) income
-$50.0K
$521.0K
Accumulated deficit
-$1.8B
-$1.4B
Total stockholders equity
$653.8M
$838.3M
$873.4M
$929.7M
Total liabilities and stockholders equity
$816.3M
$1.0B
Accounts receivable, allowance
$1.1M
$877.0K
Period ending
2026-04-30
2025-04-30
2024-04-30
2023-04-30
Cash and cash equivalents
$66.2M
$164.4M
$167.1M
Marketable securities
$509.3M
$578.3M
Accounts receivable, net of allowance of $1,065 and $877 as of April 30, 2026 and 2025, respectively
$100.5M
$137.2M
Prepaid expenses and other current assets
$32.0M
$24.3M
Total current assets
$708.0M
$904.3M
Property and equipment, net
$66.9M
$79.3M
Goodwill
$625.0K
$625.0K
Other assets, non-current
$40.8M
$41.7M
Total assets
$816.3M
$1.0B
Accounts payable
$5.5M
$15.2M
Accrued compensation and employee benefits
$48.6M
$53.9M
Deferred revenue, current
$34.9M
$36.6M
Accrued and other current liabilities
$17.6M
$26.3M
Total current liabilities
$106.6M
$131.9M
Deferred revenue, non-current
$1.6M
$0
Other long-term liabilities
$54.4M
$55.7M
Total liabilities
$162.5M
$187.6M
Additional paid-in capital
$2.5B
$2.2B
Accumulated other comprehensive (loss) income
-$50.0K
$521.0K
Accumulated deficit
-$1.8B
-$1.4B
Total stockholders equity
$653.8M
$838.3M
$873.4M
$929.7M
Total liabilities and stockholders equity
$816.3M
$1.0B
Accounts receivable, allowance
$1.1M
$877.0K
Cash from operations11121314157-$190.2M in 2026+445% since 2019Capital spending11121314157$1.9M in 2026−72% since 2019Free cash flow11121314157-$192.1M in 2026+361% since 2019Share buybacks121314$0 in 2024
Cash from operations16$2.1M in Q1 FY2026Capital spending16$8.0K in Q1 FY2026−99% since Q1 FY2025Free cash flow16$2.1M in Q1 FY2026
Every line of the cash flow as filed: the last 3 fiscal years, latest first.7
Period ending
2026-04-30
2025-04-30
2024-04-30
Net loss
-$470.4M
-$288.7M
-$279.7M
Depreciation and amortization
$13.6M
$12.6M
$12.7M
Non-cash operating lease cost
$370.0K
$358.0K
$742.0K
Stock-based compensation expense
$263.7M
$231.0M
$215.8M
Non-cash restructuring expense
$5.6M
$0
$0
Accretion of discounts on marketable securities
-$8.5M
-$13.5M
-$17.2M
Other
$520.0K
$2.8M
$98.0K
Accounts receivable
$36.5M
-$9.1M
$4.5M
Accounts payable
-$9.4M
$3.6M
-$12.9M
Accrued compensation and employee benefits
-$4.4M
$8.7M
-$6.2M
Operating lease liabilities
-$1.4M
$450.0K
$17.3M
Other liabilities
-$8.4M
$10.8M
$8.2M
Deferred revenue
-$140.0K
-$2.4M
-$8.9M
Net cash used in operating activities
-$190.2M
-$41.4M
-$62.4M
Purchases of property and equipment
-$1.9M
-$3.0M
-$25.3M
Capitalized software development costs
$0
$0
-$2.8M
Purchases of investments
-$540.6M
-$647.0M
-$827.9M
Maturities and sales of investments
$617.6M
$666.5M
$789.3M
Net cash provided by (used in) investing activities
$75.1M
$16.4M
-$66.6M
Taxes paid related to net share settlement of equity awards
$0
-$9.1M
-$13.2M
Proceeds from issuance of Class A common stock under employee stock purchase plan
$9.3M
$10.9M
$10.8M
Proceeds from exercise of Class A common stock options
$7.7M
$20.4M
$13.8M
Net cash provided by financing activities
$17.0M
$22.2M
$11.3M
Net decrease in cash, cash equivalents and restricted cash
-$98.2M
-$2.8M
-$117.7M
Supplemental disclosure of cash flow information - cash paid for income taxes
$838.0K
$920.0K
$975.0K
Purchases of property and equipment included in accounts payable and accrued liabilities
$153.0K
$311.0K
$474.0K
Right-of-use assets obtained in exchange for lease obligations (including remeasurement of right-of-use assets and lease liabilities due to changes in the timing of receipt of lease incentives)
-$166.0K
$1.0M
$1.8M
Right-of-use assets obtained in exchange for lease obligations (including remeasurement of right-of-use assets and lease liabilities due to changes in the timing of receipt of lease incentives)
$1.0M
$1.8M
Receivable from exercise of stock options included in prepaid expenses, other current assets and other assets
$0
$0
$3.0K
Vesting of early exercised stock options
$6.0K
$195.0K
$507.0K
Related party balanced included in prepaid expenses, other current assets and other assets
C3.ai sits at the top of its group. 15 entities, 11 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of C3.ai
Thomas SiebelFiled SCHEDULE 13G/A on C3.ai, latest May 15, 2026 (6 filings since Feb 14, 2022)
BlackRockFiled SCHEDULE 13G/A on C3.ai, latest Apr 24, 2026 (5 filings since Feb 3, 2023)
VANGUARD GROUP INCFiled SCHEDULE 13G/A on C3.ai, latest Mar 26, 2026 (5 filings since Feb 9, 2022)
SUSQUEHANNA SECURITIES, LLCFiled SCHEDULE 13G/A on C3.ai, latest Feb 13, 2026 (4 filings since Feb 13, 2025)
Voya FinancialFiled SCHEDULE 13G/A on C3.ai, latest Feb 14, 2025 (2 filings since Nov 14, 2024)
Baker HughesFiled SC 13G/A on C3.ai, latest Nov 14, 2024 (2 filings since Aug 11, 2022)
TPG GP A, LLCFiled SC 13G/A on C3.ai, latest Feb 11, 2022
C3.aiRedwood City, California, United States
AI Press, Inc. Subsidiary · Delaware, United States
C3 Energy Italy S.R.L. Subsidiary · Italy
C3 IoT France S.A.S. Subsidiary · France
C3, Inc. Subsidiary · Delaware, United States
C3.ai Australia Pty Ltd Subsidiary · Australia
C3.ai Belgium S.R.L. Subsidiary · Belgium
C3.ai Canada Inc. Subsidiary · Canada
C3.ai Gov, Inc. Subsidiary · Delaware, United States
C3.AI INTERNATIONAL, INC. Subsidiary · Redwood City, California, United States
C3.ai Japan K.K. Subsidiary · Japan
C3.ai México S. de R.L. de C.V. Subsidiary · Mexico
C3.ai Netherlands B.V. Subsidiary · Netherlands
C3.ai Singapore Pte Ltd. Subsidiary · Singapore
C3.ai UK Ltd. Subsidiary · United Kingdom
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What C3.ai reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our current principal executive office is located in Redwood City, California, which consists of approximately 283,015 square feet of space under a lease that expires in March 2033.
We lease 14 other offices around the world for our employees, including in Tysons, Virginia; Houston, Texas; New York City, New York; Atlanta, Georgia; Chicago, Illinois; Huntsville, Alabama; Minneapolis, Minnesota; London, UK; Paris, France; Bengaluru, India; Amsterdam, Netherlands; Rome, Italy; Guadalajara, Mexico; and Munich, Germany.
The rest of Item 2
We lease all of our facilities and do not own any real property. In connection with our ongoing restructuring activities, we are evaluating our global real estate footprint to align our facilities with current and anticipated operational requirements. We do not expect to procure significant additional space in the near term. We believe our existing facilities are adequate and suitable for our current needs and that, should it be needed, suitable additional or alternative space will be available to accommodate our operations.
C3 AI was founded in 2009 by Thomas Siebel as "C3". Originally the "C" in the company's name was a reference to "carbon" and the "3" was a reference to "measure, mitigate and monetize" because the company's original goal was to help manage corporate carbon footprints.
For some time in 2016 the company was named C3IoT and before that was briefly named C3 Energy.
On September 3, 2025 C3 AI announced that Stephen Ehikian, former acting administrator of the General Services Administration, had been appointed chief executive officer (CEO) effective September 1, with Siebel continuing as executive chairman.
On May 8, 2026, Thomas Siebel returned as the CEO of the company, while Ehikan became the president.
Aug 11, 2025Reported quarterly or annual results67
May 28, 2025Reported quarterly or annual results68
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
469 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 45 major events, 279 insider forms, 26 large holders, 99 other. The latest 20:
145 open-market trades by officers, directors and large owners since October 2021: 2 buys and 143 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
From the cover page of the 10-K filed Jun 24, 2026 (Section 12(b) of the Exchange Act).20
Risk factors and legal proceedings
The risks C3.ai names in Item 1A of its 10-K filed Jun 24, 2026: 62 risks under these headings, as written.20
Risks Related to Our Business and Our Industry
We have a history of losses, we anticipate our operating expenses will continue to increase, and we may not be able to achieve or maintain profitability in the future.
Historically, a limited number of customers have accounted for a substantial portion of our revenue. If existing customers do not renew their contracts with us, or if our relationships with our largest customers are impaired or terminated, our revenue and remaining performance obligations could decline, and our results of operations would be adversely impacted.
Our business depends on our ability to attract new customers and on our existing customers purchasing additional subscriptions from us and renewing their existing subscriptions.
If we fail to respond to rapid technological changes, extend our C3 AI Software, or develop new features and functionality, our ability to remain competitive could be impaired.
Sales to government entities and highly regulated organizations are subject to a number of challenges and risks, including U.S. federal government shutdowns.
Because we derive substantially all of our revenue from subscriptions to our C3 AI Software and Center of Excellence support services, failure of Enterprise AI solutions in general and our C3 AI Software in particular to satisfy customer demands or to achieve increased market acceptance would adversely affect our business, results of operations, financial condition, and growth prospects.
Issues raised by the use of AI, including ML, in our C3 Agentic AI Platform may result in reputational harm or liability or otherwise adversely affect our business, financial condition and results of operations.
Our current C3 AI Software, as well as applications, features, and functionality that we may introduce in the future, may not be widely accepted by our customers, may receive negative attention or may require us to compensate or reimburse third parties, any of which may lower our margins and harm our business.
We face intense competition and could lose market share to our competitors, which could adversely affect our business, financial condition and results of operations.
Our sales cycles can be long and unpredictable, particularly with respect to large subscriptions, and our sales efforts require considerable time and expense.
Changes in our subscription or pricing models could adversely affect our operating results.
The other 51 risks
Our revenue depends in part on the success of our strategic relationships with third parties, including channel partners, and if we are unable to establish and maintain successful relationships with them, our business, operating results, and financial condition could be adversely affected.
If the market for our C3 AI Software fails to grow as we expect, or if businesses fail to adopt our C3 AI Software, our business, operating results, and financial condition could be adversely affected.
Our ability to retain key members of our senior management may impact the successful execution of our business strategy.
We may not successfully execute or achieve the expected benefits of our restructuring plan and other measures we may take in the future, and our efforts may adversely affect our business.
The failure to effectively develop and invest in our marketing and sales capabilities could harm our ability to increase our customer base and achieve broader market acceptance of our C3 AI Software.
If we fail to develop, maintain, and enhance our brand and reputation cost-effectively, our business and financial condition may be adversely affected.
If we are unable to ensure that our C3 AI Software interoperates with a variety of software applications that are developed by others, including our partners, we may become less competitive and our business may be harmed.
Our ability to sell subscriptions to our C3 AI Software could be harmed by real or perceived material defects or errors in our C3 AI Software.
The failure to attract and retain additional qualified personnel or to maintain our company culture could harm our business and prevent us from executing our business strategy.
Our annual and quarterly results and key metrics are likely to fluctuate significantly and may not fully reflect the underlying performance of our business.
Our performance metrics and certain operational data may not provide an accurate indication of our future or expected results.
We generally recognize revenue from subscriptions to our C3 AI Software over the terms of such subscriptions. Consequently, increases or decreases in new sales may not be immediately reflected in our results of operations and may be difficult to discern.
If we fail to meet our service-level commitments under our customer agreements, we could be obligated to provide credits or face contract terminations, which could adversely affect our revenue, reputation, results of operations.
The terms and conditions of certain multi-year, non-cancellable agreements could result in significant payments or penalties that could have a material adverse effect on our business, financial condition, and results of operations.
Any failure to offer high-quality maintenance and support services for our customers may harm our relationships with our customers and, consequently, our business.
Macroeconomic uncertainties have had, and could continue to have, an adverse impact on our business, our operations, and the markets and communities in which we, our partners, and users operate.
If our information technology systems or data, or those of third parties with whom we work, are or were compromised, we could experience adverse consequences resulting from such compromise, including, but not limited to, regulatory investigations or actions; litigation; fines and penalties; disruptions of our business operations; reputational harm; loss of revenue or profits; loss of customers or sales; and other adverse consequences.
We could suffer disruptions, outages, defects, and other performance and quality problems with our C3 AI Software or with the public cloud and internet infrastructure on which it relies.
We utilize third-party service providers to host and deliver our C3 AI Software, and any interruptions or delays in these services could impair our C3 AI Software and harm our business.
We may face exposure to foreign currency exchange rate fluctuations.
Our business could be adversely affected if our employees cannot obtain and maintain required security clearances, we cannot obtain and maintain a required facility security clearance, or we do not comply with legal and regulatory obligations regarding the safeguarding of classified information.
If we are unable to achieve and sustain a level of liquidity sufficient to support our operations and fulfill our obligations, our business, operating results and financial position could be adversely affected.
We may need additional capital, and we cannot be certain that additional financing will be available on favorable terms, or at all.
We may acquire other businesses or receive offers to be acquired, which could require significant management attention, disrupt our business or dilute stockholder value.
Increased scrutiny regarding environmental, employment, social, and governance matters could adversely impact our reputation, our ability to retain employees, and the willingness of customers and others to do business with us.
Risks Related to Our International Operations
We are continuing to invest in our operations outside the United States, where we may be subject to increased business and economic risks that could harm our business.
We are subject to governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we are not in compliance with applicable laws.
We are subject to the U.S. Foreign Corrupt Practices Act, or FCPA, and similar anti-corruption, anti-bribery, and similar laws, and non-compliance with such laws can subject us to criminal or civil liability and harm our business, financial condition and results of operations.
Risks Related to Taxes
We may be subject to liabilities on past sales for taxes, surcharges, and fees.
We may have exposure to greater than anticipated tax liabilities, which could harm our business.
Our ability to use our net operating losses and certain other tax attributes to offset future taxable income or taxes may be subject to certain limitations.
Risks Related to Our Intellectual Property
We are currently, and may be in the future, party to intellectual property rights claims and other litigation matters, which, if resolved adversely, could harm our business.
Indemnity provisions in various agreements potentially expose us to substantial liability for intellectual property infringement and other losses.
Our failure to protect our intellectual property rights and proprietary information could diminish our brand and other intangible assets.
Our use of third-party open-source software could negatively affect our ability to offer and sell subscriptions to our C3 AI Software and subject us to possible litigation.
Because of the characteristics of open-source software, there may be fewer technology barriers to entry by new competitors and it may be relatively easy for new and existing competitors with greater resources than we have to compete with us.
If open-source software programmers, many of whom we do not employ, or our own internal programmers do not continue to develop and enhance open-source technologies, we may be unable to develop new technologies, adequately enhance our existing technologies or meet customer requirements for innovation, quality and price.
Our software development and licensing model could be negatively impacted if the Apache License, Version 2.0 is not enforceable or is modified so as to become incompatible with other open-source licenses.
Risks Related to Ownership of Our Class A Common Stock
The trading price of our Class A common stock may be volatile, and you could lose all or part of your investment.
Short sellers may engage in manipulative activity intended to drive down the market price of our Class A common stock, which could also result in related regulatory and governmental scrutiny, among other effects.
The dual class structure of our common stock has the effect of concentrating voting control with the holders of our Class B common stock, limiting your ability to influence corporate matters.
Substantial future sales of shares of our Class A common stock and Class B common stock by existing holders in the public market could cause the market price of our Class A common stock to decline.
Provisions in our constituent documents and Delaware law may prevent or frustrate attempts by our stockholders to change our management or hinder efforts to acquire a controlling interest in us, and the market price of our Class A common stock may be lower as a result.
Our amended and restated certificate of incorporation designates the Court of Chancery of the State of Delaware and, to the extent enforceable, the federal district courts of the United States of America as the exclusive forums for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to choose the judicial forum for disputes with us or our directors, officers or employees.
Our Class A common stock market price and trading volume could decline if securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business.
We do not intend to pay dividends for the foreseeable future and, as a result, the ability of the holders of our Class A common stock to achieve a return on their investment will depend on appreciation in the price of our common stock.
General Risks
If we fail to maintain an effective system of disclosure controls and internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
Changes in accounting standards and subjective assumptions, estimates and judgments by management related to complex accounting matters could adversely affect our financial results or financial condition.
We may be involved in legal proceedings that have a negative impact on our business.
We will continue to incur costs and demands upon management as a result of complying with the laws and regulations affecting public companies in the United States, which may harm our business.
Our business could be disrupted by catastrophic events.
Legal proceedings
From time to time, we may become involved in legal proceedings relating to claims arising from the ordinary course of business. Except as disclosed in Note 7. Commitments and Contingencies - Legal Proceedings in our consolidated financial statements included elsewhere in this Annual Report on Form 10-K, we are not presently a party to any other such litigation the outcome of which, we believe, if determined adversely to us, would individually, or taken together, have a material adverse effect on our business, operating results, cash flows, or financial condition.
