NoneREDWOOD CITY, Calif.--(BUSINESS WIRE)--Dec 9, 2024-- C3.ai, Inc. (“C3 AI,” “C3,” or the “Company”) (NYSE: AI), the Enterprise AI application software company, today announced financial results for its fiscal second quarter ended October 31, 2024. “We had an outstanding quarter with strong top- and bottom-line performance to mark our seventh consecutive quarter of accelerating revenue growth,” said Thomas M. Siebel, Chairman and CEO, C3 AI. “It is difficult to overstate the potential of the Microsoft–C3 AI strategic alliance,” said Siebel. “By establishing C3 AI as a preferred AI application provider on Azure and creating a Microsoft-scale go-to-market engine, we’re making it easy for businesses to adopt and deploy C3 AI applications. This is an inflection point for Enterprise AI, driving growth.” Fiscal Second Quarter 2025 Financial Highlights Microsoft Azure Strategic Alliance Partner Network C3 AI reinforced its leadership in Enterprise AI, strengthened by a thriving partner ecosystem to accelerate Enterprise AI adoption. Business Highlights C3 AI had continuing momentum with significant Federal and commercial successes and strengthened strategic partnerships. Federal Momentum Federal business demonstrated strong execution, securing key wins and expansions across multiple agencies. C3 Generative AI C3 AI further strengthens its competitive edge in generative AI, affirming its market leadership. Financial Outlook: The Company’s guidance includes GAAP and non-GAAP financial measures. The following table summarizes C3 AI’s guidance for the third quarter of fiscal 2025 and full-year fiscal 2025: A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future. Stock-based compensation expense-related charges, including employer payroll tax-related items on employee stock transactions, are impacted by the timing of employee stock transactions, the future fair market value of our common stock, and our future hiring and retention needs, all of which are difficult to predict and subject to constant change. We have provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables for our historical non-GAAP results included in this press release. Our fiscal year ends April 30, and numbers are rounded for presentation purposes. Conference Call Details Investor Presentation Details An investor presentation providing additional information and analysis can be found at our investor relations page at ir.c3.ai . Statement Regarding Use of Non-GAAP Financial Measures The Company reports the following non-GAAP financial measures, which have not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. We use these non-GAAP financial measures internally for financial and operational decision-making purposes and as a means to evaluate period-to-period comparisons. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. Our presentation of non-GAAP financial measures may not be comparable to similar measures used by other companies. We encourage investors to carefully consider our results under GAAP, as well as our supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand our business. Please see the tables included at the end of this release for the reconciliation of GAAP to non-GAAP financial measures. Other Information Professional Services Revenue Our professional services revenue includes service fees and prioritized engineering services. Service fees include revenue from services such as consulting, training, and paid implementation services. For service fees, revenue is typically recognized over time as the services are performed. Prioritized engineering services are undertaken when a customer requests that we accelerate the design, development, and delivery of software features and functions that are planned in our future product roadmap. When we agree to this, we negotiate an agreed upon fee to accelerate the development of the software. When the software feature is delivered, it becomes integrated to our core product offering, is available to all subscribers of the underlying software product, and enhances the operation of that product going forward. Such prioritized engineering services result in production-level computer software – compiled code that enhances the functionality of our production products – which is available for our customers to use over the life of their software licenses. Per Accounting Standards Codification (ASC) 606, Prioritized engineering services revenue is recognized as professional services over the period in which the software development is completed. Total professional services revenue consists of: Use of Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “anticipate,” “believe,” “continue,” “estimate,” “expect,” “intend,” “may,” “will” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements regarding our market leadership position, anticipated benefits from our partnerships, financial outlook, our sales and customer opportunity pipeline including our industry diversification, the expected benefits of our offerings (including the potential benefits of our C3 Generative AI offerings), and our business strategies, plans, and objectives for future operations. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks and uncertainties, including our history of losses and ability to achieve and maintain profitability in the future, our historic dependence on a limited number of existing customers that account for a substantial portion of our revenue, our ability to attract new customers and retain existing customers, market awareness and acceptance of enterprise AI solutions in general and our products in particular, the length and unpredictability of our sales cycles and the time and expense required for our sales efforts. Some of these risks are described in greater detail in our filings with the Securities and Exchange Commission, including our Quarterly Reports on Form 10-Q for the fiscal quarters ended July 31, 2024 and, when available, October 31, 2024, although new and unanticipated risks may arise. The future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. Except to the extent required by law, we do not undertake to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations. About C3.ai, Inc. C3.ai, Inc. (NYSE:AI) is the Enterprise AI application software company. C3 AI delivers a family of fully integrated products including the C3 AI Platform, an end-to-end platform for developing, deploying, and operating enterprise AI applications, C3 AI applications, a portfolio of industry-specific SaaS enterprise AI applications that enable the digital transformation of organizations globally, and C3 Generative AI, a suite of domain-specific generative AI offerings for the enterprise. Reconciliation of free cash flow to the GAAP measure of net cash used in operating activities: The following table below provides a reconciliation of free cash flow to the GAAP measure of net cash used in operating activities for the periods presented: View source version on businesswire.com : https://www.businesswire.com/news/home/20241209723558/en/ CONTACT: Investor Contact ir@c3.aiC3 AI Public Relations Edelman Lisa Kennedy (415) 914-8336 pr@c3.ai KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY ARTIFICIAL INTELLIGENCE SOURCE: C3.ai Copyright Business Wire 2024. PUB: 12/09/2024 04:05 PM/DISC: 12/09/2024 04:06 PM http://www.businesswire.com/news/home/20241209723558/en
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Shohei Ohtani's eventual return to the mound isn't going to come at the start of the 2025 season. Los Angeles Dodgers manager Dave Roberts told reporters on Monday it was "very unlikely" that Ohtani would be able to pitch by then, though added he expects him to be ready to go as a hitter. The superstar slugger had arthroscopic surgery for a torn labrum in his left shoulder in November. This article will be updated soon to provide more information and analysis. For more from Bleacher Report on this topic and from around the sports world, check out our B/R app , homepage and social feeds—including Twitter , Instagram , Facebook and TikTok .TCU's TD barrage breaks open tight game vs. Arizona
Minnesota 1 0 2 0 — 3 Calgary 1 1 1 1 — 4 Calgary won shootout 2-1Dodgers' Shohei Ohtani Unlikely to Pitch in Opener Amid Injury Rehab, per Roberts
What is Twitter Wrapped 2024? Here's how you can be a part of this latest trend on XNorth Korean troops have been deployed to a new Russian frontline region, a Ukrainian official said Friday. On October 23, U.S. officials confirmed that North Korea had sent troops to Russia to aid the country in its ongoing war against Ukraine, which began when Russian President Vladimir Putin launched a full-scale invasion of Kyiv in February 2022. Meanwhile, a North Korean representative to the United Nations (U.N.) said last month that reports that Pyongyang is sending soldiers to Moscow were "groundless rumors." On Monday, Deputy Pentagon press secretary Sabrina Singh told reporters that it is likely that roughly 11,000 North Korean troops have entered Russia's Kursk region. The Kursk region, located along Russia's border with Ukraine, was the site of Kyiv's surprise incursion in August. Singh added that the North Korean troops are "moving into Kursk for a reason. We have every expectation that they would be engaged in combat operations." Andrii Kovalenko, the head of Ukraine's National Security and Defense Council's Center for Countering Disinformation, wrote on Telegram on Friday that some North Korean troops have moved into the Belgorod region. "Part of the military from the DPRK was transferred to the border area of the Belgorod region," he wrote, using North Korea's official name, the Democratic People's Republic of Korea (DPRK). "There are none in the Kharkiv region." The Belgorod Oblast is south of the Kursk Oblast and directly across from the Kharkiv Oblast in Ukraine, which holds Kyiv's second-largest city, Kharkiv. The Russian city of Belgorod has been a target of Ukrainian strikes in the past. Newsweek reached out to the Russian government via online form and Ukraine's foreign affairs ministry via email for comment on Saturday afternoon. Meanwhile, a senior Ukrainian military source told Reuters in an article published on Saturday that Ukraine has lost more than 40 percent of the territory that it seized in its surprise attack in the Kursk region late this summer. "At most, we controlled about 1,376 square kilometres [roughly 531 square miles], now of course this territory is smaller. The enemy is increasing its counterattacks," said the unnamed source, who is on the General Staff of the Armed Forces of Ukraine. The source added: "Now we control approximately 800 square kilometres [roughly 309 square miles]. We will hold this territory for as long as is militarily appropriate." President Joe Biden , meanwhile, recently authorized Ukraine to use U.S.-supplied missiles deeper inside Russia , granting a months-long request from Ukrainian President Volodymyr Zelensky . The decision to allow Ukraine to use the Army Tactical Missile System (ATACMs) farther into Russian territory came amid the deployment of North Korean troops along Ukraine's northern border. North Korean troops in Russia signal growing ties between Putin and North Korean leader Kim Jong Un following the signing of a "comprehensive strategic partnership treaty" between the two countries in June. The treaty, which was signed when Putin visited North Korea over the summer, states that Moscow and Pyongyang must immediately provide military aid using "all means" if either is attacked. In exchange for thousands of North Korean soldiers, Russia has provided Pyongyang with air defense missiles and military equipment, according to South Korea's national security adviser. Shin Won-sik revealed on Friday during a broadcast on SBS TV that Russia has supplied North Korea with advanced military technologies to enhance the regime's defense capabilities, particularly around Pyongyang.