AIC3.ai, Inc.
Is the business good?
More warning than reassurance: 1 of 9 health tests passed and margins compressing.
Weak, deteriorating fundamentals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is AI?
C3.ai, Inc. spent more than it took in: an operating loss of $472M on $232M of revenue, 12 months to Q1 2027.
Operating loss · on $232M of revenue · 12 months to Q1 2027
- Share count, year on year
- +14%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 91%
R&D as % of revenue
- Gross margin
- 29%
Gross margin
| Year | Operating margin |
|---|---|
| FY2021 | −33% |
| FY2022 | −78% |
| FY2023 | −109% |
| FY2024 | −102% |
| FY2025 | −83% |
| FY2026 | −199% |
Details›
- Gross margin12 months to Q1 2027
- 29%
- Operating margin12 months to Q1 2027
- −203%
- Net margin12 months to Q1 2027
- −192%
- Free cash flow margin
- −67%
- R&D as % of revenue
- 91%
- Revenue, trailing twelve months
- $232M
- Free cash flow, trailing twelve months
- −$156M
- Net income, trailing twelve months
- −$446M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from AI and who it buys from, as the companies report it.
- Customer one14%
Share of revenue · FY2026 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; AI’s own figures are from its FY2026 10-K. Smaller customers and suppliers go unreported.
Software, Infrastructure
Ranks #66 of 78 by RyuScore