C3.ai posts smaller loss as CEO pushes turnaround
C3.ai’s latest quarter still ended with a $92.8 million loss, but that’s better than the $116.8 million it lost a year ago. Revenue also dropped sharply to $52.4 million from $70.3 million. Despite lower professional services income, C3.ai reported positive free cash flow of $2.1 million and a 73% jump in new bookings. CEO Tom Siebel says the company's overhauled leadership and sharper cost controls are showing results.
- Quarterly loss narrowed to $92.8 million
- Revenue fell to $52.4 million, down from $70.3 million
- Free cash flow turned positive at $2.1 million
- Professional services revenue dropped by nearly two-thirds
- New bookings rose 73% quarter over quarter
Sources covering this
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