Donews reported on December 7 that the American AI software service provider C3ai(ai.US) announced its results for the second quarter of fiscal year 2024 on the morning of the 7th, Beijing time.
According to the financial report, C3AI Q2 revenue was $73.2 million, up 17% year-over-year, less than the market expectation of $74 millionNet loss was US$69.78 million, compared to a loss of US$68.85 million in the same period last yearLoss per share was 0$59, beating analysts' estimate of a loss per share of 0$18, compared with a loss per share of 0$63;Gross profit was $41.1 million and gross margin was 56%.
By business, the quarterly subscription revenue was 6,644$90,000, or 91% of total revenue, up 12% from $59.5 million in the same period last year. Professional services income was 67800,000 USD.
c3.AI Q2 subscription revenue grew 12% year-over-year, and customer engagement grew 81% year-over-year. c3.AI said it had 62 customer agreements in place during the quarter, including 36 pilot agreements. As of the end of the quarter, C3Cash, cash equivalents and investments held by AI7$62.3 billion.
Looking ahead, C3AI expects revenue in the range of $74 million to $78 million for the third quarter of fiscal 2024. The company reiterated that it expects full-year 2024 revenue to remain at 2$9.5 billion to $3$200 million.
c3.AI noted that it plans to further accelerate its investment in biointelligence as it expects a significant increase in opportunities for enterprise AI. The company also said it believes it is well-positioned to accelerate growth, gain market share and achieve sustainable non-GAAP profitability.