Investor Supplemental FY24-Q3
February 28, 2024
Disclaimer
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical facts, including our market leadership position, anticipated benefits from our partnerships and investments, financial outlook, our sales and customer opportunity pipeline, the expected benefits of our offerings (including the potential benefits of our C3 Generative AI offerings), our business strategies, plans, and objectives for future operations, are forward-looking statements. The words "anticipate," "believe," "continue," "estimate," "expect," "intend," "may," "will" and similar expressions are intended to identify forward-looking statements. We have based these forward- looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, including difficulties in evaluating our prospects and future results of operations given our operating history, our dependence on a limited number of existing customers that account for a substantial portion of our revenue, our ability to attract new customers and retain existing customers, market awareness and acceptance of enterprise AI solutions in general and our products in particular, and our history of operating losses. Some of these risks are described in greater detail in our filings with the Securities and Exchange Commission, including our Quarterly Reports on Form 10-Q for the fiscal quarters ended July 31, 2023, October 31, 2023 and, when available, January 31, 2024, although new and unanticipated risks may arise. The future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. Except to the extent required by law, we do not undertake to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations.
This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Neither we nor any other person makes any representation as to the accuracy or completeness of such data or undertakes any obligation to update such data after the date of this presentation. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk.
In addition to the financials presented in accordance with U.S. generally accepted accounting principles ("GAAP"), this presentation includes non-GAAP financial information. We believe that non-GAAP financial information, when taken collectively with financial information presented in accordance with GAAP, may be helpful to investors because it provides consistency and comparability with past financial performance. There are a number of limitations related to the use of non-GAAP financial metrics versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP metrics differently or may use other metrics to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial metrics as tools for comparison. We urge you to review the non- GAAP financial information with the financial information presented in accordance with GAAP, and not to rely on any single financial measure to evaluate our business.
- © 2024 C3.ai Inc. All Rights Reserved.
FY24-Q3 Highlights
Number of | Subscription | Revenue | Customer | Cash | ||||
Agreements | Revenue | Growth1 | Engagement | Balance | ||||
Growth1 | Growth1 | |||||||
50 | 23% | 18% | 80% | $723M | ||||
- FY24-Q3QTD vs FY23-Q3 QTD and percentages are rounded for presentation purposes
- © 2024 C3.ai Inc. All Rights Reserved.
- © 2024 C3.ai Inc. All Rights Reserved.
Revenue Growth Accelerates
Q4 FY22 | Q1 FY23 | Q2 FY23 | Q3 FY23 | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | |
Total revenue (K) | $72,317 | $65,308 | $62,408 | $66,669 | $72,410 | $72,362 | $73,229 | $78,401 |
% growth YOY | 38% | 25% | 7% | (4)% | -% | 11% | 17% | 18% |
Average selling price (K) | $2,927 | $1,426 | $825 | $1,899 | $1,156 | $755 | $665 | $1,206 |
Customer Engagement | 212 | 223 | 223 | 247 | 287 | 334 | 404 | 445 |
% growth YOY | 35% | 50% | 81% | 80% | ||||
RPO (K) | $477,421 | $458,209 | $417,320 | $403,159 | $381,437 | $334,560 | $303,552 | $286,867 |
Percentages are rounded for presentation purposes
- © 2024 C3.ai Inc. All Rights Reserved.
FY24-Q3 C3 AI Partner Model Success
Closed 50 agreements during Q3 FY24, of which 27 were with partner support.
Partner-supported bookings grew 337% year-over-year and 62% quarter-over-quarter
C3 AI announced an enhanced partnership agreement with Paradyme. Since 2021, the two companies have partnered to provide AI-powered applications that deliver predictive insights to federal agencies. Under the new agreement, Paradyme will significantly grow its number of dedicated staff to accelerate joint selling and delivery efforts.
- © 2024 C3.ai Inc. All Rights Reserved.
C3 AI Customer Success
- © 2024 C3.ai Inc. All Rights Reserved.
C3 Transform 2024: | March 5-7, 2024 |
Reshaping the World | The Boca Raton, |
with Generative AI | Boca Raton, FL |
- © 2024 C3.ai Inc. All Rights Reserved.
March 5 - 7, 2024
The Boca Raton · Boca Raton, Florida | *Agenda subject to change |
Wednesday, March 6
8:30 am
Harnessing Generative AI: Gift Horse or Trojan Horse?
Thomas M. Siebel, Chairman and CEO, C3 AI
9:15 am
Improving Efficiency & Productivity with Generative AI
Dr. Nikhil Krishnan, CTO, Products, C3 AI
Rowan Curran, Senior Analyst, Forrester Research
James Lawrence, Deputy Program Executive Officer and Deputy Director for the Rapid Sustainment Office, U.S. Air Force
10:30 am
LLMs: Where Did They Come From?
Where Are They Going? Will They Become
Sentient?
Dr. Christopher Manning, Director of the Stanford
Artificial Intelligence Lab & the Thomas M. Siebel Professor in Machine Learning, Professor of Linguistics and Computer Science, Stanford University
Thomas M. Siebel, Chairman and CEO, C3 AI
11:10 am
Cementing Success: Holcim's
Production Optimization Journey
Roze Wesby, Vice President, Head of Plants of Tomorrow, Holcim Marjan Milošević, Head of Industrial IT, Holcim
1:20 pm
AI's Role in the Future of National Security
The Hon. Condoleezza Rice, 66th U.S. Secretary of State Thomas M. Siebel, Chairman and CEO, C3 AI
1:50 pm
AI: Thinking (with) Machines
Dr. David Sepkoski, the Thomas M. Siebel Chair in History
of Science and Professor, University of Illinois Urbana-Champaign
2:30 pm
View from the Boardroom
Alan Murray, CEO, Fortune Media (USA) Corp.
Lisa Davis, Board Member, Penske Automotive Group & Former CEO, Siemens Energy
Dr. Richard Levin, Former CEO, Coursera & President Emeritus, Yale University
Michael G. McCaffrey, Chairman, Makena Capital Management & Board Member, NVIDIA
Bruce Sewell, Former Senior Vice President, General Counsel, and Secretary, Apple
Dr. KR Sridhar, Founder, Chairman, and CEO, Bloom Energy
3:30 pm
Breakout Sessions
Drive AI Initiatives with Advanced Data Science Accelerators The Science Behind C3 Generative AI
Industrial AI at Scale: How to Reach Operational Efficiency Google Cloud and C3 AI Partner to Scale Enterprise AI Transforming Revenue Operations with C3 Generative AI for CRM
Thursday, March 7
8:30 am
Leading the Innovation of Enterprise AI Applications
The C3 AI Product Roadmap
Adrian Rami, Group Vice President, Products & Engineering, C3 AI
Jim Apostolides, Senior Vice President, Enterprise Operational Excellence, Baker Hughes
Jake Whitcomb, Senior Director, Products, C3 AI
9:15 am
Get Smart! How Digital, Data, and AI Are Changing GSK's Global Supply Chain Into "Smart Manufacturing"
Diane Krisciunas, Senior Vice President, Supply Chain Digital & Technology, GSK
9:40 am
Transforming Air Fleet Operations: AI-Driven Innovations in the U.S. Air Force
James Lawrence, Deputy Program Executive Officer and Deputy Director for the Rapid Sustainment Office, U.S. Air Force
10:35 am
Efficiency Redefined with AI: Optimized Industrial Operations
Lila Fridley, Vice President and General Manager, Reliability, C3 AI Joe Huff, Director, Asset Strategy & Analytics, Duke Energy Maulik Patel, Global Director, Digital Operations IT/OT, Dow Mark Wildon, Vice President, Asset Management, Shell
12:00 pm
What's Now, What's Next
Thomas M. Siebel, Chairman and CEO, C3 AI
1:30 pm
Breakout Sessions
Reliable Operations in Oil & Gas: Eni's Digital Plant How C3 Generative AI Will Change the Way We Work The Future of Production: AI for End-to-End Manufacturing
Mission-Focused Enterprise AI: The Future of Defense and Intelligence
Enhancing Financial Security with AI Solutions
Healthcare and Generative AI: Promise, Outcomes & Transformation
2:30 pm
Breakout Sessions
AI-Powered Maintenance Strategy: PETRONAS's Digital Transformation Journey
Supply Chain Excellence Starts with an Accurate Demand Forecast
Powering the Future: Enhancing Grid Resilience and Sustainability with AI
Leading Effective Digital Transformation in State & Local Governments
The C3 Generative AI Lab: An Interactive, Hands-On Workshop
3:00 pm
Closing Reception - AI Marketplace
11:30 am
Con Edison's AI-Powered Resilient Grid
Tom Magee, General Manager, AMI Operations & Solutions, Con Edison
Dan Smilowitz, Head of Enterprise Data & Analytics, Con Edison
11:50 am
Turning AI Into Knowledge:
A Practitioner's Guide
Ed Abbo, President and Chief Technology Officer, C3 AI
Jim H. Snabe, Chairman, Siemens AG, Former co-CEO, SAP & Former Chairman, A.P. Moller-Maersk
4:30 pm
Breakout Sessions
Accelerate Your Enterprise AI Program with the C3 AI Platform
Simplify ESG Reporting and Prioritize Strategic Opportunities with Generative AI
Powering Predictive and Resilient Supply Chains with Generative AI Ethics and AI Explainability for State & Local Governments
The C3 Generative AI Lab: An Interactive, Hands-On Workshop
5:15 pm
Networking Reception
7:00 pm - The Beach Club
11:20 am
Securing Tomorrow: Insights from Defense and Intelligence Leaders on AI Integration
Lord Aamer Sarfraz, Member of the House of Lords
Lieutenant General (Ret.) Ed Cardon, Former Commander, U.S. Army Cyber Command
Lieutenant General (Ret) Dennis Crall, U.S. Marine Corps
General (Ret.) John Hyten, Former Vice Chairman of the Joint Chiefs of Staff
General Sir Gordon Messenger, Constable of the Tower of London & Former Vice-Chief of the Defence Staff, UK
Join us as we say thank you for a closing reception in the AI Marketplace
- © 2024 C3.ai Inc. All Rights Reserved.
Attendee Dinner
Guidance
FY24-Q4 | FY24 | |
Total Revenue | $82.0 - $86.0 million | $306.0 - $310.0 million |
YoY Growth % | 13% - 19% | 15% - 16% |
Non-GAAP Loss from Operations | ($43.5) - ($51.5) million | ($115.0) - ($123.0) million |
Our guidance includes GAAP and non-GAAP financial measures. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future. Stock-based compensation expense-related charges, including employer payroll tax-related items on employee stock transactions, are impacted by the timing of employee stock transactions, the future fair market value of our common stock, and our future hiring and retention needs, all of which are difficult to predict and subject to constant change. We have provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables for our historical non-GAAP results included in this presentation. Our fiscal year ends April 30, and numbers are rounded for presentation purposes.
10 © 2024 C3.ai Inc. All Rights Reserved.
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C3.ai Inc. published this content on 28 February 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2024 11:18:04 UTC.