$AI

C3.ai, Inc.

CIK:0001577526|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Revenue
Total revenue	$ 52,375	$ 70,261
Cost of revenue
Total cost of revenue	35,706	43,817
Gross profit	16,669	26,444
Operating expenses
Sales and marketing	41,611	62,513
Research and development	46,549	64,651
General and administrative	26,079	24,099
Restructuring	698	0
Total operating expenses	114,937	151,263
Loss from operations	(98,268)	(124,819)
Interest income	5,957	8,218
Other (expense) income, net	(338)	132
Loss before provision for income taxes	(92,649)	(116,469)
Provision for income taxes	163	300
Net loss	$ (92,812)	$ (116,769)
Net loss per share attributable to Class A and Class B common stockholders, basic (in dollars per share)	$ (0.60)	$ (0.86)
Net loss per share attributable to Class A and Class B common stockholders, diluted (in dollars per share)	$ (0.60)	$ (0.86)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic (in shares)	154,999	135,375
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted (in shares)	154,999	135,375
Subscription
Revenue
Total revenue	$ 49,169	$ 60,301
Cost of revenue
Total cost of revenue	34,720	41,481
Professional services
Revenue
Total revenue	3,206	9,960
Cost of revenue
Total cost of revenue	$ 986	$ 2,336

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Cash flows from operating activities:
Net loss	$ (92,812)	$ (116,769)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation and amortization	3,403	3,415
Non-cash operating lease cost	149	88
Stock-based compensation expense	59,233	64,775
Accretion of discounts on marketable securities	(1,305)	(2,811)
Other	34	262
Changes in operating assets and liabilities
Accounts receivable	5,946	23,302
Prepaid expenses, other current assets and other assets	7,562	(230)
Accounts payable	3,083	(2,931)
Accrued compensation and employee benefits	(2,048)	3,343
Operating lease liabilities	(1,300)	2,187
Other liabilities	2,874	(1,538)
Deferred revenue	17,253	(6,628)
Net cash provided by (used in) operating activities	2,072	(33,535)
Cash flows from investing activities:
Purchases of property and equipment	(8)	(760)
Purchases of marketable securities	(129,154)	(206,492)
Maturities and sales of marketable securities	124,516	156,081
Net cash used in investing activities	(4,646)	(51,171)
Cash flows from financing activities:
Proceeds from exercise of Class A common stock options	72,812	1,289
Net cash provided by financing activities	72,812	1,289
Net increase (decrease) in cash, cash equivalents and restricted cash	70,238	(83,417)
Cash, cash equivalents and restricted cash at beginning of period	78,763	176,924
Cash and cash equivalents	136,435	80,941
Restricted cash included in other assets, non-current	12,566	12,566
Cash, cash equivalents and restricted cash at end of period	149,001	93,507
Cash and cash equivalents	136,435	80,941
Restricted cash included in other assets, non-current	12,566	12,566
Total cash, cash equivalents and restricted cash	149,001	93,507
Cash and cash equivalents	136,435	80,941
Restricted cash included in other assets, non-current	12,566	12,566
Supplemental disclosure of cash flow information—cash paid for income taxes	518	452
Supplemental disclosures of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable and accrued liabilities	149	201
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)	0
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)
Vesting of early exercised stock options	$ 0	$ 5

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2026	Apr. 30, 2026
Current assets
Cash and cash equivalents	$ 136,435	$ 66,197
Marketable securities	514,634	509,252
Accounts receivable, net of allowance of $1,099 and $1,065 as of July 31, 2026 and April 30, 2026, respectively	94,568	100,548
Prepaid expenses and other current assets	24,531	31,965
Total current assets	770,168	707,962
Property and equipment, net	63,569	66,904
Goodwill	625	625
Other assets, non-current	40,442	40,782
Total assets	874,804	816,273
Current liabilities
Accounts payable	8,741	5,509
Accrued compensation and employee benefits	44,038	48,560
Deferred revenue, current	52,568	34,861
Accrued and other current liabilities	19,775	17,641
Total current liabilities	125,122	106,571
Deferred revenue, non-current	1,106	1,560
Other long-term liabilities	53,680	54,391
Total liabilities	179,908	162,522
Commitments and contingencies (note 6)
Stockholders’ equity
Additional paid-in capital	2,637,163	2,502,657
Accumulated other comprehensive loss	(610)	(50)
Accumulated deficit	(1,941,816)	(1,849,004)
Total stockholders’ equity	694,896	653,751
Total liabilities and stockholders’ equity	874,804	816,273
Class A Common Stock
Stockholders’ equity
Common stock	156	145
Class B Common Stock
Stockholders’ equity
Common stock	$ 3	$ 3