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C3.ai Non-GAAP EPS of -$0.11 beats by $0.05, revenue of $62.41M beats by $1.6M

  • C3.ai press release (NYSE:AI): Q2 Non-GAAP EPS of -$0.11 beats by $0.05.
  • Revenue of $62.41M (+7.1% Y/Y) beats by $1.6M.
  • Subscription Revenue: Subscription revenue for the quarter was $59.5 million, an increase of 26% compared to $47.4 million one year ago.
  • Non-GAAP gross profit for the quarter was $47.8 million, representing a 77% non-GAAP gross margin, compared to non-GAAP gross profit of $45.3 million one year ago.
  • Non-GAAP RPO of $453.5 million, down from $529.3 million one year ago.
  • With $858.8 million in cash, cash equivalents, and investments, we believe C3 AI is well positioned to sustain equity market turbulence and to continue to invest in growth through Enterprise AI innovation and sales expansion.
  • Q3 Outlook: Total revenue $63.0-65.0M vs. consensus of $66.82M, Non-GAAP loss from operations ($25.0) - ($29.0)M.
  • 2023 Outlook: Total revenue $255.0-270.0M vs. consensus of $261.04M, Non-GAAP loss from operations ($85.0) - ($98.0)M.
  • Shares +2.67%.