C3.ai, the enterprise AI software company trading under the ticker AI on the NYSE, just posted preliminary fourth-quarter results that paint a complicated picture. Revenue came in at $51.6 million for Q4 of fiscal year 2026, ending April 30. That’s within the company’s own guidance range of $48-52 million, which sounds fine until you realize the same quarter last year brought in $108.7 million.
That’s a 53% decline year over year.
The numbers tell a brutal story
The GAAP loss from operations hit $121.2 million in the quarter. Gross profit landed at just $11.3 million. The net loss reached $115.6 million.
On the non-GAAP side, the operating loss was $54.4 million. That was actually better than the company’s guided range of $56-64 million, but only after stripping out roughly $10.8 million in restructuring charges.
