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Preview|C3.AI:May Below Expectations; Future Growth May Overcome Sales Capacity Constraints

Tom Siebel's Involvement in the Company Is Decreasing

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FundaAI
May 27, 2025
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Disclaimer: The content provided in this newsletter is for informational purposes only and does not constitute investment advice. We are not registered investment advisors, and nothing in this newsletter should be construed as a recommendation to buy or sell any securities. Always do your own research and consult with a licensed financial professional before making any investment decisions.

In our previous research note, we highlighted several key issues to watch this quarter: BH’s renewal status, progress in CSP-related business expansion, the conversion of prior trials and demo revenues into paid engagements, and potential management changes. Ideally, we were looking for this earnings call to provide clarity on these issues before deciding whether to take a position. Based on current indications, delivering a revenue beat without relying heavily on trial/demo revenues or service fees still appears challenging.

We continuously track C3.AI's quarterly performance; previous reports are available.

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Q4 Summary: Slight Miss, Primarily Due to Seasonality and Government Contract Disruptions

CSP1 Feedback (Large Partner):

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