Free cash flow was negative $56.2 million, compared with a consensus forecast for negative $30.8 million. Shares fell about 22% in after hours trading and are down 23% year to date, versus a 2% gain for the Russell 3000.
Guidance also missed expectations. The company forecast fiscal fourth quarter revenue of $48 million to $52 million, down 54% year over year at the midpoint and well below consensus of $77.7 million. It projected a non GAAP operating loss of $56 million to $64 million.
For fiscal 2027, C3.ai expects revenue of $246.7 million to $250.7 million, down 36% year over year at the midpoint, and a non GAAP operating loss of $219.5 million to $227.5 million.
Citizens cited near term new business challenges, risks around the turnaround, the reduced day to day involvement of founder Thomas Siebel, and rising competition from vendors including Snowflake, Salesforce, Microsoft and Palantir Technologies.
source https://www.investing.com/news/stock-market-news/citizens-downgrades-c3ai-after-revenue-miss-deepen-turnaround-risks-4528931
