C3.Ai, Inc. (NYSE:AI) shares are trading lower Thursday after the company reported worse-than-expected third-quarter financial results.
Wide Miss, Lower Outlook Drive Post-Earnings Selloff
The company reported an adjusted loss of 40 cents per share, wider than the consensus estimate for a 29-cent loss. Revenue totaled $53.26 million, missing the Street estimate of $75.61 million by more than 29% and declining from $98.78 million in the same period last year.
C3.ai also announced a restructuring plan and workforce reductions.
"I joined C3 AI six months ago and I did so with a clear conviction: this company is uniquely positioned to win in Enterprise AI. That conviction has been reinforced through extensive engagement with customers, prospects, partners and investors," said CEO Stephen Ehikian. "However, it was clear to me that we were not organized appropriately."
Looking ahead, the company forecast fourth-quarter revenue of $48 million to $52 million, below the consensus estimate of $77.69 million.
C3.ai also slashed its fiscal 2026 revenue guidance from a prior range of $447.5 million to $484.5 million to a new range of $246.7 million to $250.7 million.
C3.Ai Stock Plummets Lower
AI Price Action: At the time of writing, C3.Ai shares are trading 24.45% lower at $7.780, according to data from Benzinga Pro.
Image via Shutterstock
