Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data C3.ai, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Revenue
91.6
157
183
253
267
311
389
250
Cost of revenue
30.4
38.8
44.5
63.7
86.3
132
153
173
Gross profit
61.2
118
139
189
180
179
236
77.4
Research and development
37.3
64.5
68.9
151
211
201
226
229
Selling and marketing
37.9
95
97
174
183
214
240
237
General and administrative
22.1
29.9
33.1
61
77.2
81.4
94.2
98.6
Operating expenses
97.3
189
199
385
471
497
560
576
Operating income
-36
-71.5
-60.3
-196
-290
-318
-324
-498
Interest income
3.51
4.25
1.26
1.83
22
40.1
36.2
28.4
Other non-operating income
-0.55
-1.75
4.01
3.02
0.35
-0.64
0.51
0.5
Pre-tax income
-33.1
-69
-55
-191
-268
-279
-288
-470
Income tax
0.27
0.38
0.7
0.79
0.68
0.79
0.98
0.82
Net income
-33.3
-69.4
-55.7
-192
-269
-280
-289
-470
EBITDA
-35.5
-70.2
-56
-191
-284
-306
-312
-485
EPS, basic
-1.84
-2.45
-2.34
-2.24
-3.35
EPS, diluted
-1.84
-2.45
-2.34
-2.24
-3.35
Shares, basic (weighted)
104
110
119
129
141
Shares, diluted (weighted)
104
110
119
129
141
Balance sheet
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Cash and equivalents
98.6
33.1
115
340
285
167
164
66.2
Short-term investments
212
978
621
446
583
578
509
Receivables
30.8
65.5
80.3
135
130
137
101
Other current assets
5.4
14.3
20
23.3
24
24.3
32
Total current assets
281
1,173
1,060
889
904
904
708
Property, plant and equipment
8.72
6.13
14.5
84.6
88.6
79.3
66.9
Lease right-of-use assets
8.41
5.09
29
17.6
18.7
19.3
18.8
Goodwill
0.63
0.63
0.63
0.63
0.63
0.63
0.63
Long-term investments
0.73
0
32.1
81.4
0
Other non-current assets
13.8
16.6
63.2
47.5
44.6
41.7
40.8
Total assets
305
1,196
1,171
1,103
1,038
1,026
816
Accounts payable
4.73
12.1
54.2
24.6
11.3
15.2
5.51
Accrued liabilities
9.08
18.3
14.9
17.1
9.53
26.3
17.6
Deferred revenue
53.5
72.3
48.9
47.8
37.2
36.6
34.9
Total current liabilities
81
124
150
136
102
132
107
Lease liabilities
5.65
1.74
26.9
37.3
55.6
55.5
53.1
Other non-current liabilities
6
7.85
30.9
37.3
60.8
55.7
54.4
Total liabilities
93.8
135
181
173
165
188
163
Paid-in capital
110
1,410
1,533
1,740
1,964
2,216
2,503
Retained earnings
-294
-349
-541
-810
-1,090
-1,379
-1,849
Other comprehensive income
0.42
0.08
-2.15
-0.39
-0.56
0.52
-0.05
Shareholders' equity
-165
-183
1,061
989
930
873
838
654
Total equity
-165
-183
1,061
989
930
873
838
654
Total liabilities and equity
305
1,196
1,171
1,103
1,038
1,026
816
Shares outstanding
3.5
Cash flow statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Net income
-33.3
-69.4
-55.7
-192
-269
-280
-289
-470
Depreciation and amortization
0.55
1.3
4.3
5.19
6.09
12.7
12.6
13.6
Stock-based compensation
4.27
8.31
21.7
113
217
216
231
264
Deferred income tax
0
0
0
0
0
0
0.03
0
Change in receivables
-46.1
32.7
-34.7
-14.2
-54.5
4.52
-9.12
36.5
Change in payables
0.05
-1.22
7.45
34.5
-22
-12.9
3.64
-9.44
Cash from operations
-34.9
-61.3
-37.6
-86.5
-116
-62.4
-41.4
-190
Capital expenditures
-6.81
-2.3
-1.63
-3.79
-70.5
-25.3
-3.04
-1.91
Purchases of investments
-166
-220
-1,152
-796
-745
-828
-647
-541
Cash from investing
-96.2
-124
-767
317
59.9
-66.6
16.4
75.1
Stock issued
0
44
0
0
3.09
10.8
10.9
9.29
Share buybacks
0
0
-15
0
0
Cash from financing
54.5
120
887
5.71
0.62
11.3
22.2
17
Net change in cash
-76.6
-65.5
82.7
236
-55.1
-118
-2.79
-98.2
Free cash flow
-41.7
-63.6
-39.2
-90.3
-186
-87.6
-44.4
-192
Income taxes paid
0.13
0.66
0.55
0.94
0.58
0.98
0.92
0.84
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $10.65 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
29.1%
Gross profit / revenue.
Operating margin
-203.1%
Operating income / revenue.
EBITDA margin
-197.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-191.8%
Pre-tax income / revenue.
Net margin
-192.1%
Net income / revenue.
FCF margin
-67.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-66.5%
Cash from operations / revenue.
Return on equity (ROE)
-64.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-51.0%
Net income / average total assets.
Return on invested capital (ROIC)
-66.8%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
90.8%
Research and development expense / revenue.
Stock-based pay / revenue
111.1%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.5%
Capital expenditures / revenue.
D&A / revenue
5.7%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-35.7%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-2.1%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
6.4%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-67.2%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-24.6%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
-11.0%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-22.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-11.1%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-9.2%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-20.4%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-9.5%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-7.4%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
8.8%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
8.6%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
6.16x
Current assets / current liabilities.
Quick ratio
5.96x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
5.20x
(Cash + short-term investments) / current liabilities.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$1.50
Revenue / diluted weighted shares.
FCF per share
-$1.01
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.00
Cash from operations / diluted weighted shares.
Book value per share
$4.48
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
7.12x
Market cap / revenue.
P/B
2.38x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.38x
Market cap / tangible book value, when positive.
EV/Sales
4.32x
Enterprise value / revenue.
FCF yield
-9.4%
Free cash flow / market cap.
Earnings yield
-27.0%
Net income / market cap (the inverse of P/E).
What was C3.ai, Inc.'s revenue in fiscal 2026?
C3.ai, Inc. reported revenue of $250.3M for fiscal 2026, 35.7% lower than the year before.
Was C3.ai, Inc. profitable in fiscal 2026?
No. It reported a net loss of $470.4M.
How much free cash flow did C3.ai, Inc. generate in fiscal 2026?
Cash from operations of $190.2M minus capital expenditures of $1.9M left free cash flow of -$192.1M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.