Shares of C3.AI Inc. rose 9% in the extended session Wednesday after the software company reported a 20% jump in its quarterly revenue, saying demand for AI is "intensifying."
C3.ai (AI) reported a loss of $73 million, or 59 cents a share, in the fiscal fourth quarter, compared with a loss of $65 million, or 58 cents a share, in the year-ago quarter. Adjusted for one-time items, the company lost 11 cents a share.
Revenue rose 20% to $86.6 million, including subscription revenue of $79.9 million, the company said.
Analysts polled by FactSet were looking for an adjusted loss of 30 cents a share on sales of $84.4 million.
“Demand for enterprise AI is intensifying, and our first-to-market advantage in enterprise AI positions us well to capitalize on it,” Chief Executive Thomas Siebel said in a statement.
The company’s enterprise-AI applications have been adopted across 19 industries, underscoring more market diversity, he said. “The interest we are seeing in our generative-AI applications is staggering.”
For fiscal 2025, the expectation is revenue growth of 23%, the company said. It guided for fiscal 2025 first-quarter revenue between $84 million and $89 million, and a loss of between 22 cents and 30 cents a share.
That compares with FactSet expectations of a quarterly adjusted loss of 15 cents on sales of $86 million.
For the full year, the company called for revenue between $370 million and $395 million, compared with FactSet consensus of $368 million.
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