C3.ai Q2 2022 Earnings Report
Key Takeaways
C3.ai reported a strong second quarter with revenue increasing 41% year-over-year to $58.3 million. The company expanded its relationship with Baker Hughes, diversified its enterprise AI production footprint, and continued to innovate with the delivery of C3 AI Data Vision. FY 22 Revenue Guidance was raised to 35% - 37% growth, up from 17% growth in FY 21.
Total revenue for the quarter was $58.3 million, up 41% year-over-year.
Subscription revenue for the quarter was $47.4 million, up 32% year-over-year.
GAAP Gross profit for the quarter was $42.3 million.
C3 AI increased its customer count to 104, representing 63% year over year growth.
C3.ai
C3.ai
C3.ai Revenue by Segment
Forward Guidance
The company provided revenue guidance for the third quarter of fiscal year 2022 and full year fiscal year 2022.
Positive Outlook
- Third Quarter Fiscal 2022 Guidance Total revenue $66.0 - $68.0 million
- Full Year Fiscal 2022 Guidance Total revenue $248.0 - $251.0 million
Challenges Ahead
- Third Quarter Fiscal 2022 Guidance Non-GAAP loss from operations ($26.0) - ($30.0) million
- Full Year Fiscal 2022 Guidance Non-GAAP loss from operations ($100.0) - ($108.0) million
Revenue & Expenses
Visualization of income flow from segment revenue to net income