C3.ai, Inc. (AI) is a global artificial intelligence application software enterprise and it delivers a fully integrated product line including the C3 Artificial Intelligence Suite and C3 Artificial Intelligence Applications. They are used as an end-to-end portfolio for the development, deployment, and operation of enterprise AI applications and an industry-specific SaaS AI application that enabled the online transformation of businesses respectively.
The price of AI stock in the early trading session on March 4, 2022, was last checked to be $21.7 with a decline of -9.68%.
AI: Events and Happenings
On March 3, 2022, AI reported the inauguration of a software development point in Mexico’s city of Guadalajara. It will speed up the AI applications production across multiple industries.
AI: Key Financials
On March 2, 2022, AI released its consolidated unaudited financial statement for the third fiscal quarter ended January 31, 2022. Some of the notable features are discussed here.
Revenue
Total revenue in the third quarter of 2022 was $69.8 million comparable to $49.1 million in the same quarter of the previous year. The company observed a gain of 42% in its total revenue year-over-year. Also, it topped the analyst’s revenue expectations by $2.62 million.
EPS
Basic and diluted net loss per share (attributable to class A common shareholders) in Q3 2022 was $39.4 million or $0.38 comparable to $16.8 million or $0.23 in the same quarter of 2021. The company recorded a significant decline in its EPS year-over-year. Also, it topped the analysts’ EPS expectations by $0.18.
On February 23, 2022, AI updated on the Participation of its Executive management at the following upcoming investor conferences.
- JMP Securities Technology Conference to be held on March 7, 2022, and
- Morgan Stanley Technology, Media & Telecom Conference to be held on March 10, 2022.
On January 4, 2022, the company informed the press about the participation of its Executives at the 24th Annual Needham Virtual Growth Conference on January 11, 2022.
Conclusion
AI stock is 56% down the last six months as it down-performed in the peak pandemic period. The recent early trading drop in its stock price is likely the consequence of its latest announcement of the launch of a software development center in Mexico.
