C3 AI reported mixed fiscal first quarter results as it builds out its partner and go-to-market ecosystem.
The earnings landed shortly after C3 AI outlined a strategic alliance with Google Cloud to co-sell and service the company’s applications.
C3 AI reported first quarter revenue of $52.4 million, up 29% from a year ago, with a net loss of $37.46 million, or 37 cents a share. C3 AI ended the quarter with 98 customers, up 85% from a year ago.
Wall Street was expecting fiscal first quarter revenue of $51.16 million, a non-GAAP loss of 28 cents a share and GAAP loss of 35 cents a share.
As for the outlook, C3 projected second quarter revenue of $56 million to $58 million. Wall Street was looking for second quarter revenue of $56.1 million. For fiscal 2022, C3 said revenue will be between $243 million to $247 million. Wall Street was expecting revenue of $245.4 million for fiscal 2022.
C3 AI said its partnership with Microsoft was paying off with deals worth more than $200 million to date. C3 AI also expanded its footprint in various industries.
