C3.ai, Inc. (AI) Stock

C3.ai, Inc. (AI) is a Technology stock trading at $10.29 (as of 2026-08-21), with a market capitalization of $1.45B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

C3.ai, Inc. operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It provides C3 AI application platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina to for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 AI Data Vision that visualizes, understands, and leverages the relationships between data entities. It also offers C3 AI applications, including C3 AI Inventory Optimization, a solution to optimize raw material, in-process, and finished goods inventory levels; C3 AI Supply Network Risk, which provides visibility into risks of disruption throughout the supply chain operations; C3 AI Customer Churn Management, which enables account executives and relationship managers to monitor customer satisfaction, as well as to prevent customer churn with AI-based and human-interpretable predictions and warning; C3 AI Production Schedule Optimization, a solution for scheduling production; C3 AI Predictive Maintenance, which provides insight into asset risk to maintenance planners and equipment operators; C3 AI Fraud Detection solution that identify revenue leakage or maintenance and safety issues; and C3 AI Energy Management solution. In addition, it offers integrated turnkey enterprise AI applications for oil and gas, chemicals, utilities, manufacturing, financial services, defense, intelligence, aerospace, healthcare, and telecommunications market segments. It has strategic partnerships with Baker Hughes in the areas of oil and gas market; FIS in the areas of financial services market; Raytheon; and AWS, Intel, Google, and Microsoft. The company was formerly known as C3 IoT, Inc. and changed its name to C3.ai, Inc. in June 2019. C3.ai, Inc. was incorporated in 2009 and is headquartered in Redwood City, California.

Understand C3.ai, Inc.: how it makes money

C3.ai sells enterprise AI software, including an AI application platform and industry solutions, and it makes money from subscription revenue, software license revenue (including demonstration software licenses), and professional services to help customers deploy AI.

The companys profit model depends on converting contracted Remaining Performance Obligations (RPO) into delivered subscription and software license revenue, with results further influenced by mix and delivery timing of subscriptions versus demonstration software licenses and professional services.

Revenue by segment (latest quarter)
Sub$0.1B
Demo Lic$0.0B
Pro Serv$0.0B

Business quality (Weak): Fundamentals show modest gross margin (17.3%) but very negative operating margin (-263.6%) in the latest period provided, so investors should focus on whether operating metrics like Remaining Performance Obligations translate into delivered revenue.

Bull case

  • Backlog visibility: Remaining Performance Obligations (GAAP) are USD 0.21B, which indicates the company has contracted future performance to deliver.
  • Recurring revenue component: Subscription Revenue is USD 0.05B, and the business also tracks Agentic Artificial Intelligence Annual Recurring Revenue (USD 0.06B).
  • Commercial traction signals: The company reported 44 Agreements Closed and 28 Initial Production Deployment Agreements Signed.

Bear case

  • Loss-making at the operating level: Operating margin is -263.6% in the latest period provided, indicating significant operating losses.
  • Revenue recognition and measurement uncertainty: Remaining Performance Obligations (GAAP) are USD 0.21B, while Remaining Performance Obligations (Non-GAAP) are USD 0.5B, with a Gap Remaining Performance Obligations of USD 0.3B.
  • Delivery mix dependence: Software license revenue includes Revenue from Sale of Demonstration Software Licenses of C3 AI Applications (USD 0.03B) alongside Subscription Revenue (USD 0.05B), implying performance and timing can vary by revenue type.
Valuation — source: SEC EDGAR (first-party)
Price$10.29
Market Cap$1.45B
Price / Book2.21
Price / Sales5.78
FCF Yield-13.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$250.27M
Net Margin-187.9%
Revenue Growth (YoY)-35.7%
EPS Growth (YoY)49.6%
FCF Growth (YoY)332.3%
Financial Health — source: SEC EDGAR
Altman Z-Score1.34 (distress)
Valuation vs Sector & Industry
Sector P/E (Technology)34.0
Industry P/E (Business Services)30.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($195.05M)
Institutional Holders Tracked10
Congressional Trades (recent)9
Company
SectorTechnology
IndustryBusiness Services
CEOStephen Ehikian
Employees891
CountryUS
IPO Date2020-12-09

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Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.