By Brady Hicks
C3 AI logged 29 percent year-on-year revenue growth for the fiscal 2022 first quarter, ended July 31, 2021. This increase was built on the strength of C3 AI’s Subscription sales, which likewise grew 29 per cent to US$40.5 million.
Overall revenues totaled US$52.4 million, compared to FY21Q1 sales of US$40.5 million, with Professional services revenue improving 31 per cent to US$6.3 million.
“We began our fiscal year 2022 with strong results in the first quarter,” said company CEO, Thomas Siebel, whose company recorded losses of US$37 million despite 31 percent Y2Y gross profit growth to US$39.4 million. “We significantly expanded our market-partner ecosystem in Q1, entering into a strategic alliance with Google Cloud to allow the entire Google Cloud global sales and service organization to co-sell and service the entire family of C3 AI applications.”
C3 AI also noted that its total customer count, as of the quarter’s end, was up 85 percent Y2Y.
