Slide 1: Investor Supplemental FY24-Q2
Investor Supplemental FY24-Q2 December 6, 2023
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-Q2 Highlights
FY24-Q2 Highlights Number of Subscription Revenue Customer Cash Agreements Revenue Growth1 Engagement Balance Growth1 Growth1 62 12% 17% 81% $762M (1) FY24-Q2 QTD vs FY23-Q2 QT and percentages are rounded for presentation purposes 3 © 2023 C3.ai Inc. All Rights Reserved.
Slide 4: © 2023 C3.ai Inc. All Rights Reserved.
4 © 2023 C3.ai Inc. All Rights Reserved.
Slide 5: Revenue and Customer Engagement Accelerates
Revenue and Customer Engagement Accelerates Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Total revenue (K) $72,317 $65,308 $62,408 $66,669 $72,410 $72,362 $73,229 % growth YOY 38% 25% 7% (4)% —% 11% 17% Average selling price (K) $2,927 $1,426 $825 $1,899 $1,156 $755 $665 Customer Engageme
Slide 6: Additional Growth Metrics
Additional Growth Metrics FY24-Q2 Quarter over Quarter Growth Year over Year Growth Bookings 71% 100% New Agreements 94% 148% Pilots 50% 177% Percentages are rounded for presentation purposes. 6 © 2023 C3.ai Inc. All Rights Reserved.
Slide 7: FY24-Q2 C3 AI Partner Model Success
FY24-Q2 C3 AI Partner Model Success • Closed 62 agreements during Q2 FY24, of which 40 were with partners • Qualified opportunity pipeline with partners has increased by 75% in the past year • AWS Expanded Strategic Collaboration Agreement with renewed collaboration to deepen C3 Generative AI Suite
Slide 8: C3 AI Customer Success
C3 AI Customer Success 8 © 2023 C3.ai Inc. All Rights Reserved.
Slide 9: C3 Generative AI: AWS Marketplace Edition
C3 Generative AI: AWS Marketplace Edition Rapidly locate, retrieve, and act on enterprise data and insights. No-Code, Self-Service Generative AI Application in 9 © 2023 C3.ai Inc. All Rights Reserved.
Slide 10: Guidance
Guidance FY24-Q3 FY24 Total Revenue $74.0 – $78.0 million $295.0 – $320.0 million YoY Growth % 11% – 17% 11% – 20% Non-GAAP Loss from Operations ($40.0) – ($46.0) million ($115.0) – ($135.0) million Our guidance includes GAAP and non-GAAP financial measures. A reconciliation of non-GAAP guidance mea
Slide 11: Finance Update
Finance Update 11 © 2023 C3.ai Inc. All Rights Reserved.
Slide 12: FY24-Q2 Summary Financial Results
FY24-Q2 Summary Financial Results FY24-Q2 Revenue $73.2 million Subscription Revenue $66.4 million Non-GAAP Gross Profit $50.4 million Non-GAAP Gross Margin 69% Non-GAAP net loss per share $(0.13) Free Cash Flow $(55.1) million Note: Non-GAAP Gross Profit, Non-GAAP Gross Margin, Non-GAAP net loss pe
Slide 13: Deal Bands
Deal Bands $ in Millions FY23-Q2 FY24-Q2 49 18 12 6 1 0 1 0 <$1M $1M - $5M $5M - $10M $10M + <$1M $1M - $5M $5M - $10M $10M + Average TCV $0.8 M $0.7 M Note: Fiscal year ends April 30. Numbers are rounded for presentation purposes. 13 © 2023 C3.ai Inc. All Rights Reserved.
Slide 14: Total Revenue Mix
Total Revenue Mix 91% % of Total Revenue Subscription % of Revenue Total Revenue 95% Professional Services Revenue 5% 9% FY23-Q2 FY24-Q2 Note: Numbers and percentages are rounded for presentation purposes. 14 © 2023 C3.ai Inc. All Rights Reserved.
Slide 15: Bookings Diversity by Industry FY24-Q2
Bookings Diversity by Industry FY24-Q2 Life Sciences 4% Other Technology 3% State & Local Government 4% 2% Financial Services 2% Energy & Chemicals Utilities 1% 7% Professional Services 9% Total Bookings Manufacturing 19% Federal, Defense & Aerospace 49% Note: Fiscal year ends April 30. Percentages
Slide 16: Pilots & Trials Diversity by Industry FY24-Q2
Pilots & Trials Diversity by Industry FY24-Q2 Professional Services Automotive 3% 3% Energy & Utilities 3% Chemicals 6% State & Local Manufacturing Government 25% 8% Pilots & Life Sciences 8% Trials Engineering & Federal, Construction Defense & 8% Aerospace Financial 22% Services 14% Note: Fiscal ye
Slide 17: Generative AI Pilots & Trials Diversity by Industry FY24-Q2
Generative AI Pilots & Trials Diversity by Industry FY24-Q2 Professional Services 5% Life Sciences 5% State & Local Government 10% Federal, Defense & Aerospace 25% Manufacturing Generative AI 10% Pilots & Trials Financial Chemicals Services 10% 20% Engineering & Construction 15% Note: Fiscal year en
Slide 18: Pilot Account Profile FY24-Q2
Pilot Account Profile FY24-Q2 # Pilots 17 7 6 4 2 Account size $0 - $100M $100M - $1B $1B - $10B $10B - $100B >$100B in revenue 18 © 2023 C3.ai Inc. All Rights Reserved.
Slide 19: Consumption Based Revenue Transition
Consumption Based Revenue Transition Phase 3 Scale out & Consumption Phase 1 – Introduction & Transition Acceleration • First pilots started along with trials • Pilots have a lower TCV and higher initial investment costs • Revenue growth flattens and gross margin compresses Phase 2 Deal Ramp & Early
Slide 20: 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 21: © 2023 C3.ai Inc. All Rights Reserved.
21 © 2023 C3.ai Inc. All Rights Reserved.
Slide 22: Appendix
Appendix 22 © 2023 C3.ai Inc. All Rights Reserved.
Slide 23: Income Statement
Income Statement Three Months Ended January 31, 2022 April 30, 2022 July 31, 2022 October 31, 2022 January 31, 2023 April 30, 2023 July 31, 2023 October 31, 2023 Revenue Subscription $ 57,084 $ 56,302 $ 57,026 $ 59,508 $ 57,043 $ 56,866 $ 61,352 $ 66,449 Professional services 12,689 16,015 8,282 2,9
Slide 24: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Three Months Ended January 31, 2022 April 30, 2022 July 31, 2022 October 31, 2022 January 31, 2023 April 30, 2023 July 31, 2023 October 31, 2023 Subscription revenue $ 57,084 $ 56,302 $ 57,026 $ 59,508 $ 57,043 $ 56,866 $ 61,352 $ 66,449 Professional services revenue
Slide 25: Free Cash Flow
Free Cash Flow 25 © 2023 C3.ai Inc. All Rights Reserved.
Slide 26: C3.ai
S C3.ai