C3.ai misses by $0.16, misses on revs; guides Q2 revs below consensus
- Reports Q1 (Jul) loss of $0.37 per share, excluding non-recurring items, $0.16 worse than the FactSet Consensus of ($0.21); revenues fell 19.4% year/year to $70.26 mln vs the $93.84 mln FactSet Consensus.
- Co issues downside guidance for Q2, sees Q2 revs of $72.0-80.0 mln vs. $99.51 mln FactSet Consensus.
- During the quarter, C3 AI restructured its global sales and services organization with the addition of new sales leaders across all business units, including a new Chief Commercial Officer, General Manager of EMEA, new senior leadership in North America, the U.S. Federal business, the C3 AI Alliances program, and the new C3 AI Strategic Integrator Program that offers the opportunity for a new and expanding OEM line of business. In addition, sales and services have been combined, again under new leadership, to provide a more seamless, high-touch customer experience with a consistent focus on realizing significant economic benefit rapidly from each C3 AI customer engagement.
- Given the appointment of a new Chief Executive Officer and the recent restructuring of the sales and services organizations, the Company is withdrawing its previous full-year fiscal 2026 guidance. The Company will provide guidance for the third quarter of fiscal 2026 and full-year fiscal 2026 when it announces its financial results for the second quarter of fiscal 2026.