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C3.ai (AI) investor relations material
C3.ai Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary3 Dec, 2025
Executive summary
Q2 FY26 revenue grew 7% sequentially to $75.1 million, with 46 agreements signed and bookings up 49% to $86.4 million, driven by strong high-value deals and federal sector traction.
Federal, defense, and aerospace bookings rose 89% year-over-year, accounting for 45% of total bookings, with significant wins across major U.S. government agencies.
Partner ecosystem contributed to 89% of bookings, with Microsoft and AWS partnerships driving substantial pipeline and bookings growth.
Launched C3.ai Agentic Process Automation, expanding the addressable market to include robotic process automation and enabling autonomous AI agents for business workflows.
Recognized as a leader in industrial AI analytics by Verdantix, with strengths in predictive maintenance and supply chain analytics.
Financial highlights
Total revenue: $75.1 million, up 7% quarter-over-quarter; subscription revenue: $70.2 million, up 16.5%, representing 93% of total revenue.
Bookings: $86.4 million, up 49% sequentially; non-GAAP gross profit: $40.9 million; non-GAAP gross margin: 54%.
Non-GAAP operating loss: $42.2 million; non-GAAP net loss: $34.8 million ($0.25 per share); free cash flow: negative $46.9 million.
Ended quarter with $675 million in cash, cash equivalents, and marketable securities.
GAAP gross profit was $30.4 million (40% margin); GAAP net loss per share was $(0.75).
Outlook and guidance
Q3 FY26 revenue guidance: $72 million to $80 million; non-GAAP operating loss: $44 million to $52 million.
FY26 revenue guidance: $289.5 million to $309.5 million; non-GAAP operating loss: $180.5 million to $210.5 million.
Year-over-year revenue growth projected at (27)%–(19)% for Q3 and (26)%–(20)% for FY26.
Management expects execution of its operational plan to drive a return to growth and a path to cash generation and non-GAAP profitability.
Sequentially higher sales and marketing expenses expected in Q3 and Q4 due to major marketing events.
How did Federal bookings accelerate despite shutdown?
Quantify partner ecosystem's operating leverage
Explain growth in prioritized engineering services
Demo license revenue impact on subscription growth
Timeline for FCF positive and non-GAAP profit
Gross margin pressure: duration and mitigation
How to accelerate IPD conversion and scale-out?
Path to improve gross margins beyond Q2?
Recurrence of demo license revenue?
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Frequently asked questions
C3.ai, Inc. develops and delivers enterprise artificial intelligence software platform for accelerating digital transformation. It offers C3 AI Suite, a unified platform to develop and deploy enterprise scale AI applications; C3 AI Applications, which are enterprise AI software as a service applications for various vertical industries, including energy, supply chain, asset management, and customer service; and apps store comprising pre-built AI applications available in SaaS mode. The company was founded in 2009 and is headquartered in Redwood City, California.
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