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C3.ai (AI) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Sep 9, 2026 · C3.ai (AI) Q1 FY27 earnings results →

Q1 FY27 Revenue down 26% year over year to $52.4M · 177¢ of every $1 of revenue lost · operating margin -187.6%

C3.ai made $52.4M in Q1 FY27 (-26% Y/Y): Subscription $49.2M, Professional services $3.2M. Operating margin -187.6%, net loss $92.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 9, 2026.

Revenue$52.4M
Year over year-26%
Operating margin-187.6%
Net earnings−$92.8M
Operating cash flow$2.1M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $52.4M in Q1 FY27, down 25% year over year and up 2% from the previous quarter. Subscription was the largest line at 94% of revenue. Subscription lost $11.1M year over year (down 18%), 62% of the total change.

Gross margin was 31.8%, down 5.8 points from Q1 FY26. Operating costs exceeded revenue by $98.3M, an operating margin of -187.6%. Operating expenses fell 24% while revenue fell 25%. The quarter ended with a net loss of $92.8M, narrower than the previous quarter's $115.6M loss.

Operating cash flow was $2.1M. Non-cash charges added back $3.4M of depreciation and amortization and $59.2M of share-based compensation. Working capital and other items added $32.2M. After purchases of property and equipment ($8K), free cash flow as the company reports it was $2.1M.

Quarterly history

C3.ai revenue by quarterC3.ai revenue by quarter$98.8MQ3 FY25$109MQ4 FY25$70.3MQ1 FY26$75.1MQ2 FY26$53.3MQ3 FY26$51.6MQ4 FY26$52.4MQ1 FY27
C3.ai net earnings by quarterC3.ai net earnings by quarter−$80.2MQ3 FY25−$79.7MQ4 FY25−$117MQ1 FY26−$105MQ2 FY26−$133MQ3 FY26−$116MQ4 FY26−$92.8MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QSep 9, 2026$52.4M-26%-187.6%−$92.8M$2.1M
Q4 FY2610-KJun 24, 2026$51.6M-52%-234.8%−$116M−$54.4M
Q3 FY2610-QMar 11, 2026$53.3M-46%-263.6%−$133M−$55.8M
Q2 FY2610-QDec 9, 2025$75.1M-20%-149.2%−$105M−$46.5M
Q1 FY2610-QSep 9, 2025$70.3M-19%-177.7%−$117M−$33.5M
Q4 FY2510-KJun 23, 2025$109M+26%-81.8%−$79.7M$11.3M
Q3 FY2510-QMar 7, 2025$98.8M+26%-88.7%−$80.2M−$22.0M

Charts

C3.ai: revenue growth, year over year and quarter over quarterC3.ai: revenue growth, year over year and quarter over quarterY/YQ/Q+26%Q3 FY25+26%+10%Q4 FY25-19%-35%Q1 FY26-20%+7%Q2 FY26-46%-29%Q3 FY26-52%-3%Q4 FY26-26%+2%Q1 FY27
Latest (Q1 FY27): Y/Y -26%, Q/Q +2%.
C3.ai: where the cash came from (+) and went (−), TTM to Q1 FY27C3.ai: where the cash came from (+) and went (−), TTM to Q1 FY27Operating cash flow−$155MOther investing$123MShares issued$79.2MCash drawn (+) / kept (−)−$55.5MOther financing$9.3MCapital spending−$1.2M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
C3.ai: profit against cash, quarter by quarterC3.ai: profit against cash, quarter by quarterNet incomeOperating cash flow−$66.0M−$38.7MQ2 FY25−$80.2M−$22.0MQ3 FY25−$79.7M$11.3MQ4 FY25−$117M−$33.5MQ1 FY26−$105M−$46.5MQ2 FY26−$133M−$55.8MQ3 FY26−$116M−$54.4MQ4 FY26−$92.8M$2.1MQ1 FY27
Latest (Q1 FY27): Net income −$92.8M, Operating cash flow $2.1M.
C3.ai: diluted shares by fiscal yearC3.ai: diluted shares by fiscal year104MFY22110MFY23119MFY24129MFY25141MFY26
+34.6% since FY22: more shares outstanding (issuance, stock pay).
C3.ai in its industry: growth against margin (192 companies, SIC 7372)C3.ai in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSGTLBALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHIIIVLiveperson IncMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYAI (-26%, -100%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About C3.ai

C3 AI is the Enterprise AI application software company. C3 AI delivers a family of fully integrated products including the C3 Agentic AI Platform, an end-to-end platform for developing, deploying, and operating Enterprise AI applications; C3 AI Applications, a portfolio of industry-specific Enterprise AI applications that enable the digital transformation of organizations globally; and C3 Generative AI, a library of agentic AI applications to retrieve data, analyze information, surface insights, and orchestrate workflows to drive business value.

In its own words, from its 10-K, filed Jun 24, 2026.

C3.ai against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -26% against the peers' median +14%. Operating margin: -187.6% against the peers' median 15.2%.

CompanyQuarterRevenueY/YOp. margin
AI C3.aiQ1 FY27$52.4M-26%-187.6%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: C3.ai 10-Q on SEC EDGAR · CIK 1577526 · Services-Prepackaged Software

13F: who owns AI and who is buying

Largest holders of AI (13F)Largest holders of AI (13F)Vanguard Group$195MBlackRock$130MVanguard Portfolio Management LLC$81.5MVanguard Capital Management LLC$54.5MMorgan Stanley$45.7MBNP Paribas Financial Markets$32.2MState Street$31.7MGeode Capital Management, LLC$31.2MGoldman Sachs Group$29.3MMillennium Management LLC$28.5M
Funds' net buying of AI by quarter (13F)Funds' net buying of AI by quarter (13F)−$32.0M2024-09$32.0M2024-12$23.0M2025-03−$39.7M2025-06$28.0M2025-09$105M2025-12$44.2M2026-03$90.6M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

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History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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