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C3.ai, Inc. (AI) stock

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NYSE: AI NYSE Application Software Next results ~November 23, 2026

E Fundamentals grade

C3.ai, Inc. is a US-listed company in the application software industry. Its financial year ends in April.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: every model's value for C3.ai, Inc. is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

C3.ai, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 4 selling2 purchases and 44 sales by directors and officers, last 12 monthsInsider trades
  • Funds171 adding, 112 cuttingOf 34 active managers that changed their stake, 24 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter C3.ai files

Where C3.ai stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $232m, down 37.5% on a year earlier, a steeper fall than the 35.7% decline a quarter earlier. That puts it 125 of 126 for growth among the application software companies we cover. Free-cash-flow margin fell to -67.0% from -23.1% a year earlier. Operating margin narrowed to -203.1% from -101.2%. The diluted share count is up 10.4% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 2 of our 2 financial-health checks.

Our model value for C3.ai is under review, so past values are not shown until it is resolved.

Source: 10-Q filed September 9, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 23, 2026 (estimated)

C3.ai, Inc.'s trailing-twelve-month revenue fell 37.5% year on year, with a free-cash-flow margin of -67.0%. Where it lags: revenue growth of -37.5% ranks 179 of 184 application software companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 81.4% while net income fell 30.3%: a 51pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Revenue shrinking. Revenue fell 37.5% over the last 12 months.
  • Loss-making. Operating margin is -203.1%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 101.9 points on a year ago.
  • Burning cash. Free cash flow was -67.0% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 111.1% of revenue, against a median of 9.3% for application software companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 10.4% in a year.

Latest results: FY2027 Q1

Filed September 9, 2026
Earnings per share
-$0.20 against an average estimate of -$0.26: beat by 23.2%
Revenue
$52m, down 25.5% on a year earlier
Share reaction
+5.4% in the first session after the results on September 2, 2026, against +1.5% for the S&P 500
Next report
September 2, 2026; average EPS estimate -$0.21

C3.ai's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.5%
  • 1 week-9.7%
  • 1 month+4.9%
  • This year-14.3%
  • 1 year-34.3%
  • 5 years-76.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$232M
Operating margin
-203.1%
Net margin
-192.1%
EPS (TTM, diluted)
$-3.07

Growth

Revenue growth
−37.5%
Change in growth rate
−1.9 pts
Share count change
+10.4%

Cash

Free cash flow (TTM)
-$156M
FCF margin
-67.0%
Stock pay % of revenue
111.1%

Earnings

Last results
September 2, 2026
Next results (est.)
November 23, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Shareholder vote
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Results
  6. Leadership
  7. Insider trade
  8. Insider trade
  9. Announcement
  10. Insider trade
  11. Insider trade

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

C3.ai, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value C3.ai, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11%: the 10-year Treasury yield (4.9%) plus a beta of 1.35 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$1.7 ~$1.7–$1.8 Left out: out of range vs price (0.15x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$0.5 ~$3.0–$8.3 Left out: out of range vs price (0.04x)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare C3.ai, Inc. with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20222023202420252026Now
Share price$16.99$17.82$22.53$22.01$8.83$11.55
Market value$1.8bn$2.0bn$2.7bn$2.8bn$1.2bn$1.7bn
+ Net debt (− = net cash)−$340m−$285m−$167m−$164m−$66m−$136m
Enterprise value$1.4bn$1.7bn$2.5bn$2.7bn$1.2bn$1.5bn
Multiples
Price / sales 7.0x7.3x8.7x7.3x5.0x7.2x
Price / earnings ——————
Price / free cash flow ——————
EV / EBITDA ——————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

13 /100

Weak moat

How hard C3.ai's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -13.6% of total assets over 5 years.

  • Pricing power 12 / 20

    Gross margin has been a median 61.0%, moving by 15.4 percentage points (standard deviation) across 6 years.

  • Durability 10 / 20

    Operating margin has been a median -99.3%; its worst year was -203.1%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 6 years, at a median -39.6% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (28 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.76 +44% $222m −11%
Next −$0.47 +38% $246m +11%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −3.5% on 90 days ago. In the last 30 days, 11 analysts raised C3.ai, Inc.'s forecast and 2 cut it.

Consensus EPS forecast C3.ai, Inc., last 90 days
−$0.80 −$0.60 −$0.40 −$0.20 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.79 Current fiscal year, 60 days ago: −$0.79 Current fiscal year, 30 days ago: −$0.76 Current fiscal year, 7 days ago: −$0.76 Current fiscal year, Now: −$0.76 −$0.76 Next fiscal year, 90 days ago: −$0.45 Next fiscal year, 60 days ago: −$0.45 Next fiscal year, 30 days ago: −$0.48 Next fiscal year, 7 days ago: −$0.47 Next fiscal year, Now: −$0.47 −$0.47

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.79−$0.45
60 days ago −$0.79−$0.45
30 days ago −$0.76−$0.48
7 days ago −$0.76−$0.47
Now −$0.76−$0.47

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 −$0.26 −$0.20 +23.2%
Apr 2026 −$0.37 −$0.33 +11.5%
Jan 2026 −$0.29 −$0.40 −38.3%
Oct 2025 −$0.33 −$0.25 +24.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

13 analysts, Oct 2026
Buy18%
Hold646%
Sell646%

Monthly trend

  1. Oct 2026163313
  2. Sep 202673313
  3. Aug 2026173314

Counts of recommendations published by analysts covering C3.ai, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
28.4%
of tradable shares
Days to cover
8.57
at average volume
Short interest, 1 month
−1%
to October 15, 2026
Held by institutions
63%
of shares
Held by insiders
8.2%
of shares
Employees
764
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −34.3%

$17.58 on October 31, 2025 to $11.55

ThenNowEffect
Revenue (last 12 months) $372m $232m −37.5%
P/S multiple 6.2x 7.2x +16.2%
Share count 132m 145m −9.4%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years −59.6%

$28.59 on November 3, 2023 to $11.55

ThenNowEffect
Revenue (last 12 months) $274m $232m −15.1%
P/S multiple 11.7x 7.2x −38.2%
Share count 112m 145m −22.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AI−78%−64%+157%+20%−61%−14%
Industry peers (median)−7%−50%+19%+2%−20%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AI33%33%50%42%33%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AI−82%−68%−49%−45%−65%−45%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since December 9, 2020: 96% from December 22, 2020 to March 27, 2026. Getting back needed a 2187% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$7.76 – $17.14
From 52-week high
−32.6%
vs 50-day average
+4.2%
vs 200-day average
+15.2%
Volatility (1 year)
59%
Beta vs S&P 500
2.07

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±11.0%
After a week
5 up, 7 down
typical move ±10.0%
After a month
5 up, 7 down
typical move ±13.3%
Results releasedNext dayS&P 500 next day5 days21 days
September 2, 2026 +5.4% +1.5% +1.3% +6.5%
June 3, 2026 −5.4% −0.3% −3.4% −17.0%
May 12, 2026 −8.8% +0.4% −6.9% +18.9%
February 25, 2026 −17.0% +0.3% −8.2% −17.9%
December 3, 2025 +6.6% +0.4% +10.1% −3.3%
September 3, 2025 −8.1% +1.4% −7.2% +8.4%
August 11, 2025 −23.6% +0.9% −17.8% −29.5%
May 28, 2025 +16.2% −0.2% +9.8% +1.3%
February 26, 2025 −9.3% −1.5% −14.0% −14.4%
December 9, 2024 +3.0% −0.8% +6.0% −20.0%
September 4, 2024 −9.9% −0.4% −8.7% −1.8%
May 29, 2024 +18.5% −1.4% +26.8% +20.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

C3.ai, Inc. in five measures

Fundamentals grade E
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) C3.ai, Inc.
$200M $250M $300M $350M $400M FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $284.7M Revenue (TTM), FY24 Q3: $296.4M Revenue (TTM), FY24 Q4: $310.6M Revenue (TTM), FY25 Q1: $325.4M Revenue (TTM), FY25 Q2: $346.5M Revenue (TTM), FY25 Q3: $366.9M Revenue (TTM), FY25 Q4: $389.1M Revenue (TTM), FY26 Q1: $372.1M Revenue (TTM), FY26 Q2: $352.9M Revenue (TTM), FY26 Q3: $307.4M Revenue (TTM), FY26 Q4: $250.3M Revenue (TTM), FY27 Q1: $232.4M $232.4M

Source: SEC EDGAR filings. Retrieved October 31, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $284.7M
FY24 Q3 $296.4M
FY24 Q4 $310.6M
FY25 Q1 $325.4M
FY25 Q2 $346.5M
FY25 Q3 $366.9M
FY25 Q4 $389.1M
FY26 Q1 $372.1M
FY26 Q2 $352.9M
FY26 Q3 $307.4M
FY26 Q4 $250.3M
FY27 Q1 $232.4M
Revenue growth, TTM YoY C3.ai, Inc.
-40% -20% 0% 20% 40% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 5.5% Revenue growth, TTM YoY, FY24 Q3: 11.1% Revenue growth, TTM YoY, FY24 Q4: 16.4% Revenue growth, TTM YoY, FY25 Q1: 18.8% Revenue growth, TTM YoY, FY25 Q2: 21.7% Revenue growth, TTM YoY, FY25 Q3: 23.8% Revenue growth, TTM YoY, FY25 Q4: 25.3% Revenue growth, TTM YoY, FY26 Q1: 14.3% Revenue growth, TTM YoY, FY26 Q2: 1.8% Revenue growth, TTM YoY, FY26 Q3: -16.2% Revenue growth, TTM YoY, FY26 Q4: -35.7% Revenue growth, TTM YoY, FY27 Q1: -37.5% -37.5%

Source: SEC EDGAR filings. Retrieved October 31, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 5.5%
FY24 Q3 11.1%
FY24 Q4 16.4%
FY25 Q1 18.8%
FY25 Q2 21.7%
FY25 Q3 23.8%
FY25 Q4 25.3%
FY26 Q1 14.3%
FY26 Q2 1.8%
FY26 Q3 -16.2%
FY26 Q4 -35.7%
FY27 Q1 -37.5%
Operating margin (TTM) C3.ai, Inc.
-300% -200% -100% 0% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: -105.0% Operating margin (TTM), FY24 Q3: -104.4% Operating margin (TTM), FY24 Q4: -102.5% Operating margin (TTM), FY25 Q1: -97.4% Operating margin (TTM), FY25 Q2: -90.2% Operating margin (TTM), FY25 Q3: -86.6% Operating margin (TTM), FY25 Q4: -83.4% Operating margin (TTM), FY26 Q1: -101.2% Operating margin (TTM), FY26 Q2: -117.2% Operating margin (TTM), FY26 Q3: -151.7% Operating margin (TTM), FY26 Q4: -199.2% Operating margin (TTM), FY27 Q1: -203.1% -203.1%

Source: SEC EDGAR filings. Retrieved October 31, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 -105.0%
FY24 Q3 -104.4%
FY24 Q4 -102.5%
FY25 Q1 -97.4%
FY25 Q2 -90.2%
FY25 Q3 -86.6%
FY25 Q4 -83.4%
FY26 Q1 -101.2%
FY26 Q2 -117.2%
FY26 Q3 -151.7%
FY26 Q4 -199.2%
FY27 Q1 -203.1%
FCF margin (TTM) C3.ai, Inc.
-80% -60% -40% -20% 0% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: -41.0% FCF margin (TTM), FY24 Q3: -30.4% FCF margin (TTM), FY24 Q4: -28.2% FCF margin (TTM), FY25 Q1: -22.5% FCF margin (TTM), FY25 Q2: -16.9% FCF margin (TTM), FY25 Q3: -9.8% FCF margin (TTM), FY25 Q4: -11.4% FCF margin (TTM), FY26 Q1: -23.1% FCF margin (TTM), FY26 Q2: -26.4% FCF margin (TTM), FY26 Q3: -41.3% FCF margin (TTM), FY26 Q4: -76.8% FCF margin (TTM), FY27 Q1: -67.0% -67.0%

Source: SEC EDGAR filings. Retrieved October 31, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 -41.0%
FY24 Q3 -30.4%
FY24 Q4 -28.2%
FY25 Q1 -22.5%
FY25 Q2 -16.9%
FY25 Q3 -9.8%
FY25 Q4 -11.4%
FY26 Q1 -23.1%
FY26 Q2 -26.4%
FY26 Q3 -41.3%
FY26 Q4 -76.8%
FY27 Q1 -67.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Apr 2019 2020 Apr 2020 2021 Apr 2021 2022 Apr 2022 2023 Apr 2023 2024 Apr 2024 2025 Apr 2025 2026 Apr 2026 LTM Jul 2026
Income
Revenue 92 157 183 253 267 311 389 250 232
Gross profit 61 118 139 189 180 179 236 77 68
EBITDA −35 −70 −56 −191 −284 −306 −312 −485 −459
Operating income −36 −71 −60 −196 −290 −318 −324 −498 −472
Net income −33 −69 −56 −192 −269 −280 −289 −470 −446
Diluted EPS — — — −$1.84 −$2.45 −$2.34 −$2.24 −$3.35 −$3.07
Growth (year on year)
Revenue — +71.0% +16.9% +38.0% +5.6% +16.4% +25.3% −35.7% −37.5%
Margins
Gross margin 66.8% 75.2% 75.7% 74.8% 67.6% 57.5% 60.6% 30.9% 29.1%
EBITDA margin −38.7% −44.8% −30.5% −75.5% −106.6% −98.4% −80.1% −193.8% −197.3%
Operating margin −39.3% −45.6% −32.9% −77.6% −108.9% −102.5% −83.4% −199.2% −203.1%
Net margin −36.4% −44.3% −30.4% −76.0% −100.8% −90.1% −74.2% −187.9% −192.1%
Free-cash-flow margin −45.5% −40.6% −21.4% −35.7% −69.8% −28.2% −11.4% −76.8% −67.0%
Cash flow
Cash from operations −35 −61 −38 −86 −116 −62 −41 −190 −155
Capital spending 7 2 2 4 71 25 3 2 1
Free cash flow −42 −64 −39 −90 −186 −88 −44 −192 −156
Stock-based pay 4 8 22 113 217 216 231 264 258
Free cash flow after stock pay −46 −72 −61 −204 −403 −303 −275 −456 −414
Balance sheet
Cash 99 33 115 340 285 167 164 66 136
Total debt 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −99 −33 −115 −340 −285 −167 −164 −66 −136
Diluted shares — — — 104m 110m 119m 129m 141m 145m
Returned to shareholders
Buybacks — 0 0 15 0 0 — — —
Total returned — 0 0 15 0 0 — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · July 31, 2026
What it owns · $875m
Short-term assets $770mLonger-term assets $105m
What it owes, and who funded it · $875m
Short-term liabilities $125mLonger-term liabilities $55mShareholders' equity $695m
  • Short-term assets cover short-term liabilities $770m of assets due within a year against $125m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $770m short-term assets against $55m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From C3.ai, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+10.4%
year over year
R&D spending
90.8%
of revenue
Days sales outstanding
149 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated AI GCL VTEX PDFS DCBO IIIV Median
Revenue, last 12 months $232m $239m $241m $241m $243m $218m $482m
Revenue growth, last 12 months −37.5% 68.2% 6.1% 23.0% 11.9% 4.1% 12.0%
Revenue growth, 3-year average −5.3% — — 14.0% — 21.0% 11.1%
Revenue growth, latest quarter −25.5% — — 18.9% — 2.2% 11.9%
Gross margin 29.1% 10.3% 77.5% 71.5% 80.3% 88.9% 69.2%
Operating margin −203.1% −5.6% 7.5% 8.2% 9.6% 2.7% 1.1%
Operating margin, 3-year average −133.9% — — −1.8% — 2.2% −0.8%
Net margin −192.1% −10.5% 8.3% 4.3% 15.5% 3.9% 2.1%
Cash from operations / revenue −66.5% −4.4% 13.9% 16.0% 11.6% 24.0% 18.2%
Free-cash-flow margin −67.0% −4.9% 13.4% −0.7% 11.2% 22.9% 15.0%
Free-cash-flow margin, 3-year average −37.5% — — −0.9% — 15.2% 16.2%
Stock pay / revenue 111.1% 0.0% 7.2% 10.6% 2.5% 8.3% 9.3%
Change in share count 10.4% 15.0% −3.8% 2.7% −5.2% 4.6% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth -37.5% 12.0% 179 of 184
Change in growth rate Growth -1.9pp +0.2pp 136 of 184
Gross margin Profitability 29.1% 69.8% 142 of 160
Operating margin Profitability -203.1% 1.1% 162 of 181
Net margin Profitability -192.1% 2.1% 163 of 185
Free-cash-flow margin Cash generation -67.0% 15.2% 158 of 180
Stock pay as % of revenue Cash generation 111.1% 9.3% 170 of 177
Change in share count Balance sheet 10.4% 1.7% 125 of 163
Days sales outstanding Balance sheet 149 days 57 days 152 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to April 30, 2026
Products and services
Line of business Revenue YoY
Licenses and services $227M ▼ 30.7%
Software Licenses $43.8M ▼ 53.5%
Professional Services $23.2M ▼ 62.3%
Engineering Services $18M ▼ 58.1%
Service Fees $5.1M ▼ 72.0%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
North America $226M 90.2% ▼ 34.8%
EMEA $22M 8.8% ▼ 46.0%
Rest of World $1.8M 0.7% ▼ 2.6%
Asia Pacific $686,000 0.3% ▲ 139.9%

From C3.ai, Inc.'s 10-K filed June 24, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$882M
Institutions reporting
316
Shares held vs prior quarter
▲ 14.2%
Positions opened / closed
42 / 41

Top buyers and sellers, Q2 2026: 171 institutions bought and 112 sold ; the biggest buyer was HRT Financial LP (+2.4M shares) and the biggest seller Marshall Wace, LLP (−841K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $130M 14.3M 14.7% ▲ 16.8%
Vanguard Portfolio Management LLC $81.5M 9.0M 9.2% ▲ 5.0%
Vanguard Capital Management LLC $54.5M 6.0M 6.2% ▲ 2.6%
Morgan Stanley $45.7M 5.0M 5.2% ▼ 12.2%
BNP Paribas Financial Markets $32.2M 3.5M 3.7% ▲ 100.9%
State Street Corp $31.7M 3.5M 3.6% ▲ 10.7%
Geode Capital Management, LLC $31.2M 3.4M 3.5% ▲ 17.3%
Goldman Sachs Group Inc $29.3M 3.2M 3.3% ▼ 16.1%
Millennium Management LLC $28.5M 3.1M 3.2% ▲ 10.1%
HRT Financial LP $27M 3.0M 3.1% ▲ 433.3%
Bank Of America Corp $26.1M 2.9M 3.0% ▼ 12.5%
Mirae Asset Global Etfs Holdings Ltd. $21.7M 2.4M 2.5% ▲ 1.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not C3.ai, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $302,300 2 trades by 1 insider, last 12 months Insider sales History → $76M 44 trades by 4 insiders · 88% under pre-set plans
Net ▼ $75.7M net selling
Insider Date Trade Shares Price Value
Siebel Thomas M CEO and Chairman of the Board October 13, 2026 Sell pre-set plan 435,363 $11.82 $5.1M
Lath Hitesh CHIEF FINANCIAL OFFICER October 12, 2026 Sell pre-set plan 20,000 $12.37 $247,400
Siebel Thomas M CEO and Chairman of the Board September 16, 2026 Sell pre-set plan 162,247 $10.54 $1.7M
Lath Hitesh CHIEF FINANCIAL OFFICER September 16, 2026 Sell 21,077 $10.48 $220,887
Siebel Thomas M CEO and Chairman of the Board September 15, 2026 Sell pre-set plan 282,001 $10.90 $3.1M
Siebel Thomas M CEO and Chairman of the Board September 14, 2026 Sell 22,780 $10.56 $240,557
Siebel Thomas M CEO and Chairman of the Board September 2, 2026 Sell 16,890 $10.30 $173,967
Siebel Thomas M CEO and Chairman of the Board August 11, 2026 Sell pre-set plan 453,314 $10.51 $4.8M
Lath Hitesh CHIEF FINANCIAL OFFICER August 4, 2026 Sell pre-set plan 20,000 $10.00 $200,000
Siebel Thomas M CEO and Chairman of the Board August 3, 2026 Sell 139,500 $9.61 $1.3M
Siebel Thomas M CEO and Chairman of the Board July 15, 2026 Sell pre-set plan 133,490 $9.32 $1.2M
Siebel Thomas M CEO and Chairman of the Board July 15, 2026 Sell pre-set plan 64,975 $9.31 $604,917

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 11 trades and filings

No trades in C3.ai, Inc. disclosed in the last 12 months; 11 earlier trades on record.

  • Pete Sessions(R-TX 17):Sale (full), $314.30, traded September 5, 2023, filed September 5, 2023
  • Thomas R. Suozzi(D-NY 3):Sale (full), $15,001 - $50,000, traded June 9, 2021, filed September 23, 2021
  • Thomas R. Suozzi(D-NY 3):Purchase, $15,001 - $50,000, traded June 3, 2021, filed September 23, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 23, 2026 estimated from the company's past filing pattern, not announced

  • September 2, 2026
  • June 3, 2026
  • May 12, 2026
  • February 25, 2026
  • December 3, 2025
  • September 3, 2025

Recent SEC filings

Data status

When each part of this page on C3.ai, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

C3.ai, Inc. in brief

What does C3.ai, Inc. do?
C3.ai, Inc. is a US-listed company in the application software industry. Its financial year ends in April.
What is C3.ai, Inc.'s stock ticker?
C3.ai, Inc. trades under the ticker AI on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is C3.ai, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, C3.ai, Inc. reported revenue of $232M, 37.5% lower than a year earlier, according to its SEC filings.
What is C3.ai, Inc.'s free cash flow?
C3.ai, Inc.'s free-cash-flow margin is -67.0% of revenue over the trailing twelve months, ranking 158 of the 180 application software companies we cover.
Who are C3.ai, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is C3.ai, Inc.'s market cap?
On November 2, 2026, C3.ai, Inc.'s market capitalisation was about $1.7B and net debt of -$136M. Market figures come from third-party market data and may be delayed.
Who are C3.ai, Inc.'s competitors?
In our Application Software peer group, the companies closest to C3.ai, Inc. are GCL Global Holdings Ltd, Vtex, PDF Solutions Inc, Docebo Inc. and I3 Verticals, Inc. The side-by-side comparison below sets their revenue, margins and growth against C3.ai, Inc.'s.
Are insiders buying or selling C3.ai, Inc. stock?
Over the last 12 months, C3.ai, Inc.'s directors and officers reported 2 open-market purchases and 44 sales on Form 4. The insider trading page charts every trade.
When is C3.ai, Inc.'s next earnings date?
Around November 23, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — C3.ai, Inc. announces its own schedule.