C3.ai
AI
is set to report fourth-quarter fiscal 2022 results on Jun 1.
For the quarter, C3.ai expects revenues between $71 million and $72 million. The Zacks Consensus Estimate for revenues is currently pegged at $71.2 million, indicating growth of 36.3% year over year.
For the quarter, the consensus mark for loss has remained steady at 29 cents per share in the past 30 days.
Let’s see how things have shaped up for C3.ai for the upcoming announcement.
Factors to Consider
Strong demand for the company’s Enterprise AI software, driven by accelerated digital modernization across major industries, is expected to have aided fiscal fourth-quarter performance.
Steady growth in subscription revenues and rapid adoption of the company’s model-driven AI architecture that enhance data science and application development are expected to have remained key growth drivers in the fiscal fourth quarter.
C3.ai is benefiting from the increasing adoption of its services, including C3 AI Suite, C3 AI Ex Machina and C3 AI CRM. Additionally, an expanding product portfolio is expected to have remained a key catalyst in driving demand for the company’s fully integrated AI products in the fiscal fourth quarter.
Further, C3.ai has been benefiting from strengthening industry and technology-specific partnerships. From its industry partnerships with the likes of Raytheon in Aerospace & Defense, and FIS in Financial Services, C3.ai has been leveraging domain expertise to expand its customer footprint.
With its tech partners, C3 has been benefiting from strength in its sales capabilities besides tech and product functionality. Partnerships with the likes of
Snowflake
SNOW
,
Alphabet
GOOGL
and NCS Pte Limited are expected to have driven the top line in the to-be-reported quarter.
This Zacks Rank #3 (Hold) company’s partnership with the data cloud company, Snowflake resulted in the integration of the latter’s unique architecture that enables customers to run their data platforms seamlessly across multiple clouds and regions at scale with C3.ai’s robust enterprise AI development suite and its family of industry-specific enterprise AI applications. You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
C3.ai’s partnership with Alphabet’s Google Cloud helps organizations across multiple industries accelerate their application of artificial intelligence solutions.
C3.ai and NCS entered into a strategic partnership focused on delivering enterprise AI solutions to clients in Southeast Asia (SEA) and Australia/New Zealand (ANZ) across multiple industries, including telecommunications, government, financial services, transportation and more.
Q4 Highlights
In the to-be-reported quarter,
Shell
SHEL
announced that it has scaled its predictive maintenance program, powered by C3.ai technology, to monitor and maintain more than 10,000 pieces of equipment in upstream, manufacturing, and integrated gas assets across its global asset base.
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