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C3.ai cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$2.1M in Q1 FY27 · −$156M over twelve months

Operating cash flow$2.1M
Capital spending−$8K
Free cash flow+$2.1M
Cash conversion cycle153 days

Analysis

In Q1 FY27, C3.ai generated $2.1M of operating cash flow and spent $8K on capital projects, leaving free cash flow of $2.1M. That is $36.4M more than in Q1 FY26 (−$34.3M).

Over the twelve months to Jul 31, 2026, operating cash flow was −$155M; the largest uses were operating cash flow ($155M), capital spending ($1.2M); besides operations, cash came from other investing ($123M), shares issued ($79.2M); the cash balance rose by $55.5M.

Operating cash flow was $2.1M against net income of −$92.8M. The largest differences: stock-based pay +$59.2M, deferred revenue +$17.3M, prepaid and other assets +$7.6M.

Its cash conversion cycle was 153 days (receivables 171 + inventory 0 − payables 18).

Free cash flow

C3.ai: free cash flow by quarterC3.ai: free cash flow by quarter−$39.5MQ2 FY25−$22.4MQ3 FY25$10.3MQ4 FY25−$34.3MQ1 FY26−$46.9MQ2 FY26−$56.2MQ3 FY26−$54.8MQ4 FY26$2.1MQ1 FY27
Operating cash flow less capital spending.
C3.ai: operating cash flow against capital spendingC3.ai: operating cash flow against capital spendingOperating cash flowCapital spending−$38.7M$815KQ2 FY25−$22.0M$362KQ3 FY25$11.3M$938KQ4 FY25−$33.5M$760KQ1 FY26−$46.5M$386KQ2 FY26−$55.8M$439KQ3 FY26−$54.4M$323KQ4 FY26$2.1M$8KQ1 FY27
Latest (Q1 FY27): Operating cash flow $2.1M, Capital spending $8K.

Capital allocation, year by year

C3.ai: where the cash came from (up) and went (down), by fiscal yearC3.ai: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingBuybacksFY22: Operating cash flow −$86.5MFY22: Shares issued $20.8MFY22: Capital spending −$3.8MFY22: Buybacks −$15.0M$20.8MFY22FY23: Operating cash flow −$116MFY23: Shares issued $7.6MFY23: Capital spending −$70.5M$7.6MFY23FY24: Operating cash flow −$62.4MFY24: Shares issued $24.5MFY24: Capital spending −$25.3M$24.5MFY24FY25: Operating cash flow −$41.4MFY25: Shares issued $31.3MFY25: Capital spending −$3.0M$31.3MFY25FY26: Operating cash flow −$190MFY26: Shares issued $17.0MFY26: Capital spending −$1.9M$17.0MFY26
Over these 5 years operating cash flow totalled −$496M; the largest uses were operating cash flow ($496M) and capital spending ($105M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$651M
Debtnone
Net cash$651M
Cash runway4.2 years

C3.ai is burning cash: its operations consume cash, a free cash flow of −$156M a year at the current rate against $651M of cash and investments: a runway of about 4.2 years before any new financing.

Where the cash came from and went

C3.ai: sources (+) and uses (−) of cash, Q1 FY27C3.ai: sources (+) and uses (−) of cash, Q1 FY27Shares issued$72.8MCash drawn (+) / kept (−)−$70.2MOther investing−$4.6MOperating cash flow$2.1MCapital spending−$8K
C3.ai: sources (+) and uses (−) of cash, TTM to Q1 FY27C3.ai: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow−$155MOther investing$123MShares issued$79.2MCash drawn (+) / kept (−)−$55.5MOther financing$9.3MCapital spending−$1.2M

From profit to cash

C3.ai: net income to operating cash flow, Q1 FY27C3.ai: net income to operating cash flow, Q1 FY27Net income−$92.8MDepreciation & amortization$3.4MStock-based pay$59.2MOther non-cash$34KReceivables$5.9MPayables$3.1MEmployee-related liabilities−$2.0MDeferred revenue$17.3MPrepaid and other assets$7.6MOther liabilities$2.9MOperating cash flow$2.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY27171—18153
Q4 FY26193—26167
Q3 FY26224—57168
Q2 FY26153—49104
Q1 FY26164—29136
Q4 FY25130—4783
Q3 FY25158—56102
Q2 FY25146—6680

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q1 FY27$2.1M−$8K$72.8M−$70.2M$2.1M
Q4 FY26−$54.4M−$323K$7.9M$22.6M−$54.8M
Q3 FY26−$55.8M−$439K$1.2M$14.4M−$56.2M
Q2 FY26−$46.5M−$386K$1.7M−$22.3M−$46.9M
Q1 FY26−$33.5M−$760K$1.3M$83.4M−$34.3M
Q4 FY25$11.3M−$938K$6.6M−$39.3M$10.3M
Q3 FY25−$22.0M−$362K$15.2M−$3.8M−$22.4M
Q2 FY25−$38.7M−$815K$1.3M$12.5M−$39.5M

C3.ai: income statement and cash flow

C3.ai, Q1 FY27: revenue $52.4M (-26% year over year), operating margin -187.6%. The chart follows the revenue to costs, profit and cash.

C3.ai: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.