C3.ai's revenue rose 25.3% to $389.06 million in fiscal 2025 while its net loss widened to $288.7 million

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 reported revenue of $389.06 million for the fiscal year ended Apr 30, 2025, up 25.3% from $310.58 million a year earlier. The 10-K, the annual report that US-listed companies file with the SEC, was filed on Jun 23, 2025. The loss from operations was $324.42 million, against $318.34 million a year earlier, and the net loss was $288.7 million, against $279.7 million. The loss per diluted share was $2.24, against $2.34.1^,2^,3^,4^,5^,6^,7^,8^,9^,10

Subscription revenue grew 18% to $327.6 million, and professional services revenue grew 89% to $61.4 million. Part of the revenue came from software licenses that do not require maintenance and support, recognized when the customer takes control of the software: $94.2 million in fiscal 2025, against $29.6 million in fiscal 2024. The filing puts the professional services increase down mainly to prioritized engineering services (up $17.1 million), which a customer asks for to speed up software features planned for the product roadmap, and to more consulting and training projects. Gross margin was 61%, against 57% a year earlier, and the filing says the subscription margin rose mainly on a higher mix of revenue from demonstration licenses. Two customer entities accounted for 19% and 12% of fiscal 2025 revenue; in fiscal 2024, two accounted for 27% and 14%.11^,12^,13^,14^,15^,16^,17

Total operating expenses were $560.29 million, up 13%, and stock-based compensation expense, included in cost of revenue and operating expenses, was $230.99 million, against $215.76 million a year earlier. The company's own non-GAAP net loss per share, a measure outside US accounting rules (GAAP) that left out stock-based compensation and the employer payroll tax on it, was $0.41. C3.ai ended the year with $164.4 million in cash and cash equivalents and $578.3 million in marketable securities, and operations used $41.4 million of cash, against $62.4 million a year earlier.18^,19^,20^,21^,22^,23

C3.ai sold the C3 Agentic AI Platform for developing, deploying and operating enterprise AI applications, C3 AI applications for specific industries, and C3 Generative AI. It executed 174 initial production deployment agreements in fiscal 2025, against 123 in fiscal 2024; the filing describes the deployment as the paid first phase of its consumption-based pricing, formerly called a pilot. In its earnings release of May 28, 2025, Chairman and CEO Thomas M. Siebel pointed to alliances with Microsoft, AWS, Google Cloud and McKinsey QuantumBlack, and the release said Baker Hughes and C3.ai renewed and expanded their alliance through June 2028.24^,25^,26^,27^,28^,29

That release gave, as its outlook at the time, fiscal 2026 revenue guidance of $447.5 million to $484.5 million. C3.ai's annual report for the year to Apr 30, 2026 put revenue at $250.27 million, against $389.06 million for the year before, and the net loss at $470.37 million, against $288.7 million.30^,31^,32^,33^,34

Our records hold the management discussion and the notes of this 10-K but not its exhibits, and they cannot tell whether the year-earlier figures were restated.35^,36