AI NYSE Services-Prepackaged Software Financials FY2019βFY2026
C3.ai, Inc. had $250M of revenue in fiscal 2026, down 35.7% on the year before. Over five years, revenue changed +6.4% a year on average.
Last close Β· Oct 23, 2026
$12.46
3.6%Hi! I read C3.ai, Inc.βs latest annual report (fiscal 2026). Here is what stands out:
Good So-so Weak
Are sales growing?
β35.7%
No. Sales fell 35.7% last year.
Does it make a profit?
β187.9%
No. It lost money last year.
Does profit turn into cash?
β76.8%
No. It spent more cash than it brought in.
How healthy are the accounts?
1 / 8
Weak. It passes 1 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· C3.ai, Inc. had $250M of revenue in fiscal 2026, down 35.7% on the year before. Over five years, revenue changed +6.4% a year on average. Its operating margin was β199.2%, down 115.8Β pts: of every 100 in sales, about β199 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· C3.ai, Inc. lost $470M in fiscal 2026.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$192M in fiscal 2026, β76.8% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $0.3M and sold $76.0M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.3M
1 insider
Sold, 12 months
$76.0M
4 insiders
Of sales under plans
88%
$67.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 13, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold plan | 435,363 | $11.82 | $5.1M | Form 4 |
| Oct 12, 2026 | Hitesh LathChief Financial Officer | Sold plan | 20,000 | $12.37 | $0.2M | Form 4 |
| Sep 16, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold plan | 162,247 | $10.54 | $1.7M | Form 4 |
| Sep 16, 2026 | Hitesh LathChief Financial Officer | Sold | 21,077 | $10.48 | $0.2M | Form 4 |
| Sep 15, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold plan | 282,001 | $10.90 | $3.1M | Form 4 |
| Sep 14, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold | 22,780 | $10.56 | $0.2M | Form 4 |
| Sep 2, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold | 16,890 | $10.30 | $0.2M | Form 4 |
| Aug 11, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold plan | 453,314 | $10.51 | $4.8M | Form 4 |
| Aug 4, 2026 | Hitesh LathChief Financial Officer | Sold plan | 20,000 | $10.00 | $0.2M | Form 4 |
| Aug 3, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold | 139,500 | $9.61 | $1.3M | Form 4 |
| Jul 15, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold plan | 198,465 | $9.32 | $1.8M | Form 4 |
| Jul 14, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold plan | 264,100 | $9.07 | $2.4M | Form 4 |
| Jul 1, 2026 | Stephen Bradley EhikianChief Executive Officer | Sold | 50,542 | $9.45 | $0.5M | Form 4 |
| Jun 30, 2026 | Hitesh LathChief Financial Officer | Sold plan | 48,619 | $8.77 | $0.4M | Form 4 |
| Jun 16, 2026 | Hitesh LathChief Financial Officer | Sold | 34,210 | $10.95 | $0.4M | Form 4 |
| Jun 15, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold plan | 472,005 | $11.11 | $5.2M | Form 4 |
| Jun 12, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold plan | 23,570 | $10.92 | $0.3M | Form 4 |
| Jun 2, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold | 17,350 | $11.32 | $0.2M | Form 4 |
| May 18, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold plan | 112,014 | $8.65 | $1.0M | Form 4 |
| May 15, 2026 | Thomas M SiebelCEO and Chairman of the Board, Director, 10% owner | Sold plan | 369,624 | $8.72 | $3.2M | Form 4 |
| May 4, 2026 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold | 27,210 | $9.27 | $0.3M | Form 4 |
| Apr 14, 2026 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold plan | 165,278 | $8.49 | $1.4M | Form 4 |
| Apr 13, 2026 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold plan | 326,189 | $8.31 | $2.7M | Form 4 |
| Mar 31, 2026 | Stephen Bradley EhikianChief Executive Officer | Sold | 52,194 | $8.22 | $0.4M | Form 4 |
| Mar 27, 2026 | Jim H. SnabeDirector | Sold | 10,000 | $8.08 | $0.1M | Form 4 |
| Mar 27, 2026 | Jim H. SnabeDirector | Bought | 10,000 | $7.73 | $0.1M | Form 4 |
| Mar 18, 2026 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold plan | 219,294 | $8.67 | $1.9M | Form 4 |
| Mar 17, 2026 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold plan | 282,203 | $8.86 | $2.5M | Form 4 |
| Mar 16, 2026 | Hitesh LathChief Financial Officer | Sold | 15,248 | $8.98 | $0.1M | Form 4 |
| Mar 12, 2026 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold | 23,435 | $9.11 | $0.2M | Form 4 |
| Mar 9, 2026 | Jim H. SnabeDirector | Bought | 25,000 | $9.00 | $0.2M | Form 4 |
| Mar 2, 2026 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold | 17,655 | $7.79 | $0.1M | Form 4 |
| Feb 10, 2026 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold plan | 511,732 | $11.66 | $6.0M | Form 4 |
| Feb 2, 2026 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold | 27,605 | $10.81 | $0.3M | Form 4 |
| Jan 13, 2026 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold plan | 522,175 | $13.52 | $7.1M | Form 4 |
| Dec 31, 2025 | Stephen Bradley EhikianChief Executive Officer | Sold | 234,918 | $13.56 | $3.2M | Form 4 |
| Dec 17, 2025 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold plan | 140,768 | $14.22 | $2.0M | Form 4 |
| Dec 16, 2025 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold plan | 392,064 | $14.37 | $5.6M | Form 4 |
| Dec 16, 2025 | Hitesh LathChief Financial Officer | Sold | 15,042 | $14.38 | $0.2M | Form 4 |
| Dec 12, 2025 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold | 23,000 | $15.94 | $0.4M | Form 4 |
| Dec 2, 2025 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold | 17,000 | $14.21 | $0.2M | Form 4 |
| Nov 11, 2025 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold plan | 543,706 | $15.24 | $8.3M | Form 4 |
| Nov 3, 2025 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold | 27,545 | $17.30 | $0.5M | Form 4 |
| Oct 14, 2025 | Thomas M SiebelExecutive Chairman, Director, 10% owner | Sold plan | 554,802 | $18.82 | $10.4M | Form 4 |
| Oct 1, 2025 | Robert David SchillingEVP & Chief Commercial Officer | Sold plan | 470,420 | $17.29 | $8.1M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably C3.ai, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $960M | $731M | $750M | $743M | $575M |
| Current ratio | 7.1x | 6.5x | 8.8x | 6.9x | 6.6x |
| Quick ratio | 7.1x | 6.5x | 8.8x | 6.9x | 6.6x |
| Total assets | $1.2B | $1.1B | $1.0B | $1.0B | $816M |
| Total liabilities | $181M | $173M | $165M | $188M | $163M |
| Shareholders' equity | $989M | $930M | $873M | $838M | $654M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· C3.ai, Inc. passes 1 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 4 | 4 / 7 | 2 / 7 | 2 / 8 | 3 / 8 | 3 / 8 | 1 / 8 |
| Accruals ratio | β | β2.7% | β2.4% | β8.9% | β13.5% | β20.3% | β24.0% | β30.4% |
| Altman Z'' | β | β2.45 | 12.69 | 8.19 | 5.94 | 5.15 | 3.13 | β2.43 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $91.6M | $157M | $183M | $253M | $267M | $311M | $389M | $250M |
| Gross profit | $61.2M | $118M | $139M | $189M | $180M | $179M | $236M | $77.4M |
| Research and development | $37.3M | $64.5M | $68.9M | $151M | $211M | $201M | $226M | $229M |
| Operating income | β$36.0M | β$71.5M | β$60.3M | β$196M | β$290M | β$318M | β$324M | β$498M |
| Pretax income | β$33.1M | β$69.0M | β$55.0M | β$191M | β$268M | β$279M | β$288M | β$470M |
| Income tax | $0.3M | $0.4M | $0.7M | $0.8M | $0.7M | $0.8M | $1.0M | $0.8M |
| Net income | β$33.3M | β$69.4M | β$55.7M | β$192M | β$269M | β$280M | β$289M | β$470M |
| Diluted EPS | β | β | β | β$1.84 | β$2.45 | β$2.34 | β$2.24 | β$3.35 |
| Diluted shares | β | β | β | 0.10B | 0.11B | 0.12B | 0.13B | 0.14B |
| Cash flow | ||||||||
| Cash from operations | β$34.9M | β$61.3M | β$37.6M | β$86.5M | β$116M | β$62.4M | β$41.4M | β$190M |
| Capital expenditure | $6.8M | $2.3M | $1.6M | $3.8M | $70.5M | $25.3M | $3.0M | $1.9M |
| Free cash flow | β$41.7M | β$63.6M | β$39.2M | β$90.3M | β$186M | β$87.6M | β$44.4M | β$192M |
| Depreciation and amortization | $0.6M | $1.3M | $4.3M | $5.2M | $6.1M | $12.7M | $12.6M | $13.6M |
| Stock-based compensation | $4.3M | $8.3M | $21.7M | $113M | $217M | $216M | $231M | $264M |
| Share buybacks | β | $0.0M | $0.0M | $15.0M | $0.0M | $0.0M | β | β |
| Dividends and buybacks | β | $0.0M | $0.0M | $15.0M | $0.0M | $0.0M | β | β |
| Balance sheet | ||||||||
| Cash and short-term investments | $98.6M | $245M | $1.1B | $960M | $731M | $750M | $743M | $575M |
| Current assets | β | $281M | $1.2B | $1.1B | $889M | $904M | $904M | $708M |
| Current liabilities | β | $81.0M | $124M | $150M | $136M | $102M | $132M | $107M |
| Property and equipment, net | β | $8.7M | $6.1M | $14.5M | $84.6M | $88.6M | $79.3M | $66.9M |
| Goodwill | β | $0.6M | $0.6M | $0.6M | $0.6M | $0.6M | $0.6M | $0.6M |
| Total assets | β | $305M | $1.2B | $1.2B | $1.1B | $1.0B | $1.0B | $816M |
| Total liabilities | β | $93.8M | $135M | $181M | $173M | $165M | $188M | $163M |
| Shareholders' equity | β$165M | β$183M | $1.1B | $989M | $930M | $873M | $838M | $654M |
| Margins | ||||||||
| Gross margin | 66.8% | 75.2% | 75.7% | 74.8% | 67.6% | 57.5% | 60.6% | 30.9% |
| Operating margin | β39.3% | β45.6% | β32.9% | β77.6% | β108.9% | β102.5% | β83.4% | β199.2% |
| EBITDA margin | β38.7% | β44.8% | β30.5% | β75.5% | β106.6% | β98.4% | β80.1% | β193.8% |
| Net margin | β36.4% | β44.3% | β30.4% | β76.0% | β100.8% | β90.1% | β74.2% | β187.9% |
| FCF margin | β45.5% | β40.6% | β21.4% | β35.7% | β69.8% | β28.2% | β11.4% | β76.8% |
| Returns | ||||||||
| Return on capital employed | β | β31.9% | β5.6% | β19.2% | β30.0% | β34.0% | β36.3% | β70.2% |
| Return on equity | β | β | β12.7% | β18.7% | β28.0% | β31.0% | β33.7% | β63.0% |
| Return on assets | β | β22.7% | β7.4% | β16.2% | β23.6% | β26.1% | β28.0% | β51.1% |
| Return on tangible equity | β | β | β5.3% | β19.4% | β28.9% | β32.0% | β34.5% | β72.0% |
| Growth | ||||||||
| Revenue growth | β | 71.0% | 16.9% | 38.0% | 5.6% | 16.4% | 25.3% | β35.7% |
| Share count change | β | β | β | β | 5.2% | 8.7% | 8.1% | 8.8% |
| Financial health | ||||||||
| Current ratio | β | 3.5x | 9.4x | 7.1x | 6.5x | 8.8x | 6.9x | 6.6x |
| Quick ratio | β | 3.5x | 9.4x | 7.1x | 6.5x | 8.8x | 6.9x | 6.6x |
| Capital allocation | ||||||||
| Capex / revenue | 7.4% | 1.5% | 0.9% | 1.5% | 26.4% | 8.1% | 0.8% | 0.8% |
| Stock comp / revenue | 4.7% | 5.3% | 11.9% | 44.9% | 81.2% | 69.5% | 59.4% | 105.4% |
| Quality scores | ||||||||
| Piotroski F-score | β | β | 4.0 | 2.0 | 2.0 | 3.0 | 3.0 | 1.0 |
| Altman Z'' | β | β2.5 | 12.7 | 8.2 | 5.9 | 5.1 | 3.1 | β2.4 |
| Accruals ratio | β | β2.7% | β2.4% | β8.9% | β13.5% | β20.3% | β24.0% | β30.4% |
Source: SEC EDGAR XBRL filings (CIK 0001577526). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
