C3.ai, Inc. · NYSE:AI
C3.ai — Q3 2024 Earnings Presentation
27 slides from C3.ai's earnings presentation, Feb 28, 2024
Slide 1: Investor Supplemental FY24-Q3
Investor Supplemental FY24-Q3 February 28, 2024
Slide 2: Disclaimer
Disclaimer This press release contains forward-looking statements within the meaning of the Private This presentation also contains estimates and other statistical data made by independent Securities Litigation Reform Act of 1995. All statements contained in this press release parties and by us rela
Slide 3: FY24-Q3 Highlights
FY24-Q3 Highlights Number of Subscription Revenue Customer Cash Agreements Revenue Growth1 Engagement Balance Growth1 Growth1 50 23% 18% 80% $723M (1) FY24-Q3 QTD vs FY23-Q3 QTD and percentages are rounded for presentation purposes 3 © 2024 C3.ai Inc. All Rights Reserved.
Slide 4: © 2024 C3.ai Inc. All Rights Reserved.
4 © 2024 C3.ai Inc. All Rights Reserved.
Slide 5: Revenue Growth Accelerates
Revenue Growth Accelerates Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Total revenue (K) $72,317 $65,308 $62,408 $66,669 $72,410 $72,362 $73,229 $78,401 % growth YOY 38% 25% 7% (4)% —% 11% 17% 18% Average selling price (K) $2,927 $1,426 $825 $1,899 $1,156 $755 $665 $1,206 Custome
Slide 6: FY24-Q3 C3 AI Partner Model Success
FY24-Q3 C3 AI Partner Model Success Closed 50 agreements during Q3 FY24, of which 27 were with partner support. Partner-supported bookings grew 337% year-over-year and 62% quarter-over-quarter C3 AI announced an enhanced partnership agreement with Paradyme. Since 2021, the two companies have partner
Slide 7: C3 AI Customer Success
C3 AI Customer Success 7 © 2024 C3.ai Inc. All Rights Reserved.
Slide 8: C3 Transform 2024: Reshaping the World with Generative AI
C3 Transform 2024: March 5–7, 2024 Reshaping the World The Boca Raton, with Generative AI Boca Raton, FL 8 © 2024 C3.ai Inc. All Rights Reserved.
Slide 9: C3 Transform 2024 Agenda
March 5 — 7, 2024 The Boca Raton · Boca Raton, Florida *Agenda subject to change Wednesday, March 6 Thursday, March 7 Wednesday, 8:30 am March 6 1:20 pm 8:30 am 12:00 pm Harnessing Generative AI: Gift Horse or Trojan AI’s Role in the Future of National Security Leading the Innovation of Enterprise W
Slide 10: Guidance
Guidance FY24-Q4 FY24 Total Revenue $82.0 – $86.0 million $306.0 – $310.0 million YoY Growth % 13% – 19% 15% – 16% Non-GAAP Loss from Operations ($43.5) – ($51.5) million ($115.0) – ($123.0) million Our guidance includes GAAP and non-GAAP financial measures. A reconciliation of non-GAAP guidance mea
Slide 11: Finance Update
Finance Update 11 © 2024 C3.ai Inc. All Rights Reserved.
Slide 12: FY24-Q3 Summary Financial Results
FY24-Q3 Summary Financial Results FY24-Q3 Revenue $78.4 million Subscription Revenue $70.4 million Non-GAAP Gross Profit $54.7 million Non-GAAP Gross Margin 70% Non-GAAP net loss per share $(0.13) Free Cash Flow $(45.1) million Note: Non-GAAP Gross Profit, Non-GAAP Gross Margin, Non-GAAP net loss pe
Slide 13: Deal Bands
Deal Bands $ in Millions FY23-Q3 FY24-Q3 36 20 10 6 4 1 0 0 <$1M $1M - $5M $5M - $10M $10M + <$1M $1M - $5M $5M - $10M $10M + Average TCV $1.9 M $1.2 M Note: Fiscal year ends April 30. Numbers are rounded for presentation purposes. 13 © 2024 C3.ai Inc. All Rights Reserved.
Slide 14: Total Revenue Mix
Total Revenue Mix Subscription % of 86% 90% % of Total Revenue Revenue Total Revenue Professional Services Revenue 14% 10% FY23-Q3 FY24-Q3 Note: Numbers and percentages are rounded for presentation purposes. 14 © 2024 C3.ai Inc. All Rights Reserved.
Slide 15: Bookings Diversity by Industry
Bookings Diversity by Industry High Technology Professional Services 3% Financial Services Chemicals 7% 3% Accounting Services 8% Energy and Utilities Manufacturing 2% 2% 3% Food Processing Energy and Utilities and CPG 1% Federal, 1% Aerospace and Oil and Gas Defense 1% Food Processing and 16% Consu
Slide 16: Pilots & Trials Diversity by Industry FY24-Q3
Pilots & Trials Diversity by Industry FY24-Q3 Energy and Utilities 3% Professional Services 7% Chemicals 3% Federal, Defense State and Local and Aerospace Government 21% 7% Other 7% Pilots & Trials Agriculture Food 21% Processing and CPG 14% Manufacturing 17% Note: Fiscal year ends April 30. Percent
Slide 17: Generative AI Pilots & Trials Diversity by Industry FY24-Q3
Generative AI Pilots & Trials Diversity by Industry FY24-Q3 Life Sciences 6% Chemicals 6% Federal, Defense and Aerospace 23% Other 12% Generative AI State and Local Pilots & Trials Government 12% Agriculture 17% Manufacturing Food 12% Processing and CPG 12% Note: Fiscal year ends April 30. Percentag
Slide 18: Pilot Account Profile FY24-Q3
Pilot Account Profile FY24-Q3 # Pilots 14 6 5 3 1 Account size $0 - $100M $100M - $1B $1B - $10B $10B - $100B >$100B in revenue 18 © 2024 C3.ai Inc. All Rights Reserved.
Slide 19: Modeling C3 AI Consumption
Modeling C3 AI Consumption vCPU Usage over time Q1 to Q10 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Quarter 5 Quarter 6 Quarter 7 Quarter 8 Quarter 9 Quarter 10 Total Initial Assumptions* 382 509 618 727 863 991 1,127 1,255 1,410 1,546 9,427 Actuals: Average 370 520 722 787 649 997 924 1,264 1,502 1,3
Slide 20: Hitesh Lath Appointed as Chief Financial Officer
Hitesh Lath Appointed as Chief Financial Officer Hitesh Lath has been serving as the Company’s Vice President and Chief Accounting Officer since December 2023. Before joining C3 AI, Mr. Lath spent over 22 years with Ernst & Young LLP including more than 8 years as a partner. At Ernst & Young, Mr. La
Slide 21: C3 AI Investment Thesis
C3 AI Investment Thesis Huge Addressable Market First-mover Advantage Patented Enterprise AI Application Platform Substantial Market Partner Ecosystem Recognized AI Market Leadership Proven Track Record of Success Veteran Disciplined Management Team High-Performance Corporate Culture Excellence in E
Slide 22: © 2024 C3.ai Inc. All Rights Reserved.
22 © 2024 C3.ai Inc. All Rights Reserved.
Slide 23: Appendix
Appendix 23 © 2024 C3.ai Inc. All Rights Reserved.
Slide 24: Income Statement
Income Statement 24 © 2024 C3.ai Inc. All Rights Reserved.
Slide 25: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations 25 © 2024 C3.ai Inc. All Rights Reserved.
Slide 26: Free Cash Flow
Free Cash Flow 26 © 2024 C3.ai Inc. All Rights Reserved.
Slide 27: Ss C3.al
Ss C3.al