C3 AI Exceeds Revenue Guidance, Announces New CFO as Company Transitions to Consumption-Based Pricing Model and Expands Customer Base
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Revenue of $78.4 million grew 18% year-over-year, exceeding high end of guidance range. Total number of customer engagements was 445, up 80%.
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Transition to consumption-based pricing is working - opportunity pipeline grew 73% and partner bookings grew significantly. Seeing strong uptake of C3 AI generative AI suite.
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Increasing revenue guidance for Q4 to $82-86 million. Expecting positive free cash flow in Q4 and for full fiscal year 2024.
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International user conference next week with 500+ customers registered. Will be simulcast to qualified investors and analysts.
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CFO Yuval Chiproot stepping down, new CFO is Hitesh Lath who was previously a partner at EY with 24 years experience.