Summary by Moomoo AI
On February 28, 2024, C3.ai, Inc., a leading enterprise AI application software company, reported its financial results for the fiscal third quarter ending January 31, 2024. The company announced an 18% year-over-year increase in total revenue, reaching $78.4 million and surpassing their guidance. Subscription revenue, which constituted 90% of the total revenue, saw a 23% increase from the previous year. The company also reported a GAAP gross profit of $45.3 million with a 58% gross margin and a non-GAAP gross profit of $54.7 million with a 70% non-GAAP gross margin. Despite these gains, the company experienced a GAAP net loss per share of $(0.60) and a non-GAAP net loss per share of $(0.13). C3.ai's cash reserves stood at $723.3 million. Customer engagement saw a significant boost, with an 80% increase...Show More