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C3.ai Inc. Class A (AI-2.40%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing reports total revenue of $98.8 million for the quarter, representing a 26% increase compared to the same quarter the previous year. Subscription revenue accounted for $85.7 million, a 22% increase from the prior year.
Professional services revenue grew by 64% to $13.1 million, driven by an increase in consulting projects for C3 AI Platform and C3 AI Application customers.
Cost of revenue for the quarter was $40.4 million, resulting in a gross profit of $58.3 million. The gross margin was 59%, slightly higher than the 58% reported in the previous year.
Operating expenses totaled $145.9 million, up from $127.8 million in the previous year. This increase was primarily due to higher payroll costs and increased marketing expenses.
The company reported a net loss of $80.2 million for the quarter, compared to a net loss of $72.6 million in the prior year. The loss per share was $0.62, compared to $0.60 in the previous year.
C3.ai Inc. Class A's cash, cash equivalents, and marketable securities totaled $724.3 million as of January 31, 2025, down from $750.4 million as of April 30, 2024.
The company highlighted its transition to a consumption-based pricing model, which is expected to impact revenue growth in the short-to-medium term as customers adjust to the new pricing structure.
International revenue accounted for 14% of total revenue for the quarter, consistent with the previous year.
Management noted ongoing investments in research and development to enhance the C3 AI Software and expand the company's market presence.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the C3.ai Inc. Class A quarterly 10-Q report dated March 7, 2025. To report an error, please email earnings@qz.com.