C3.ai's revenue fell 36% to $250.3 million in the year to Apr 30, 2026

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

C3.ai, an enterprise AI software company, reported revenue of $250.3 million for the year ended Apr 30, 2026, down 36% from $389.1 million the year before. The net loss was $470.4 million, against $288.7 million, and the operating loss was $498.5 million, against $324.4 million. Diluted net loss per share was $3.35, against $2.24. The figures are in the company's Form 10-K, the annual report a US-listed company files with the SEC, filed on Jun 24, 2026, after an earnings release on Jun 3, 2026.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12^,13

Subscription revenue, 91% of the total, fell 31% to $227.1 million from $327.6 million. Professional services revenue fell 62% to $23.2 million from $61.4 million. Gross margin, the share of revenue left after the cost of delivering it, was 31%, against 61%, and operating expenses rose 3% to $575.9 million.14^,15^,16^,17^,18^,19

The company's founder, Thomas M. Siebel, resumed the role of chief executive on May 8, 2026, the 10-K said, with Stephen Ehikian, who had held the post since September 2025, staying on as president and reporting to him. In the release, Siebel called the sales performance of recent quarters entirely unacceptable. The release put cash, cash equivalents and marketable securities at $673 million on Jun 3, 2026, including the proceeds of Siebel's purchase of 6.17 million shares at $11.16 a share.20^,21^,22^,23^,24^,25^,26

The board had approved a restructuring plan on Feb 24, 2026 that targeted a reduction of about 26% of the global workforce, roughly 280 full-time employees, completed during the fourth quarter of fiscal year 2026. Restructuring charges for the year were $10.8 million, of which $5.2 million was cash severance and related costs and $5.6 million was non-cash. The 10-K said research and development resources were concentrated on AI and automation solutions for asset performance, supply chain and procurement, aimed at the energy, manufacturing, healthcare and public sectors. The company signed 71 initial production deployment agreements, the usual way it starts a customer, against 174 the year before. Cash used in operating activities in the year was $190.2 million.27^,28^,29^,30^,31^,32^,33

On May 19, 2026 a jury found that Cummins had misappropriated C3 AI's trade secrets and awarded the company $23.3 million in damages. The 10-K said the company recognized no amount for the verdict in its financial statements for the year, and that there was no guarantee it would collect all or any of the damages. A securities class action filed on Aug 22, 2025 alleged misleading statements from February to July 2025 about Siebel's health. On Jul 14, 2026 the court granted the defendants' motion to dismiss that complaint in its entirety, a later filing said. The release gave revenue guidance of $50.0 million to $54.0 million for the first quarter and $210.0 million to $240.0 million for the full year, both of fiscal 2027. Revenue for that first quarter, which ended Jul 31, 2026, was $52.4 million, inside the quarterly range, in the quarterly report the company filed later.34^,35^,36^,37^,38^,39^,40^,41^,42

Our records hold this report's revenue, operating income, net income and diluted earnings per share, and the text of its management discussion and notes. They keep one value for each period of a company that files with the SEC, the latest filed, so they cannot show whether the year-earlier figures were restated.43^,44^,45