On this page of StockholderLetter.com we present the latest annual shareholder letter from C3.ai, Inc. — ticker symbol AI. Reading current and past AI letters to shareholders can bring important insights into the investment thesis.

Letter to Shareholders Dear C3 AI Shareholder, I am pleased to report excellent financial results for the fiscal year ending April 30, 2025. We delivered accelerating growth for the business, particularly across Federal, State and Local, and Agentic AI. Our year-over-year revenue growth rate has accelerated over the last three years from 6% to 16% to now 25% in 2025. In the course of the year, we have substantially advanced and improved our product offering. The full production release of the C3 Agentic AI Platform Version 8 and Version 8 applications provide our customers with dramatic increases in scalability, usability, and performance. We also announced the imminent availability of C3 AI Data Fusion, C3 AI Vision, C3 Agentic AI Everywhere, and the C3 AI Developer Hub. C3 AI Data Fusion offers point-and-click, drag-and-drop, WYSIWYG omni-modal data fusion of structured data, unstructured data, enterprise data, telemetry, signals, images, voice, chatter, and more, into unified federated virtual ontologies. This capability offers unprecedented speed and ease of use in developing complex AI application-independent data ontologies including full capabilities for data veracity, provenance, and logging. C3 AI Vision represents business and user processes as high-fidelity interactive 3D digital twins, significantly increasing usability. C3 AI was awarded the U.S. Patent for agentic AI, effective December 2022. In fiscal year 2025, our agentic AI offerings became our fastest growing product set with a year-over-year growth rate of more than 100%; we currently have over 100 agentic AI solutions in the market that are being well received by our customers. With C3 Agentic AI Everywhere, we now provide the ability to embed AI agents anywhere in an AI application, enabling the use of natural language to author, query, and orchestrate business and industrial processes as AI agents substantially extending the capabilities previously offered by robotic process automation (RPA). Importantly, C3 Agentic AI enables our customers to represent business and industrial processes e.g., order to cash, product returns, cement production, and electricity generation, as C3 AI Agents. The C3 AI Developer Hub offers just-in-time context-sensitive user and developer documentation, generative AI C3 code generation and quality assurance, online training, and both private and public developer communities. This offers unprecedented developer productivity and ease of product adoption. As of April 2025, our application product offerings exceeded 130 including a suite of products that address the needs of manufacturing, supply chain, demand chain, fraud, energy efficiency, life sciences, consumer packaged goods, chemicals, oil & gas, utilities, defense, intelligence, and others. We believe this is the most comprehensive set of Enterprise AI applications offered by any vendor in the world. It is difficult to overestimate the potential of the strategic partnerships that were formed with Microsoft, AWS, and McKinsey & Company/QuantumBlack in fiscal year 2025. Each of these organizations has selected the C3 AI applications as their preferred AI solutions. The C3 AI solutions are now available for sale by the Azure and AWS sales organizations; orderable on the Microsoft and AWS Marketplaces; and the agreements can be consummated using both Azure and AWS existing enterprise software agreements. We are engaged in hundreds of joint sales and services activity with these partners today; and we hope to be engaged in thousands going forward. We will be putting maximal focus in these partnerships in fiscal year 2026 and beyond to accelerate growth. We significantly enhanced our sales and services leadership with the addition of highly experienced veterans in the roles of Chief Commercial Officer, General Manager EMEA, GVP North America, and many other senior leadership roles.
Our objective remains to establish and maintain a global leadership position in Enterprise AI applications, targeting an addressable market opportunity that may approach $2 trillion annually. As we enter fiscal year 2026, we have the C3 Agentic AI Platform, C3 Enterprise AI applications, and C3 Agentic AI solutions that are tried, tested, and proven. The market is huge our products are proven excellent, our customers continue to express high levels of customer satisfaction, the company is well capitalized, and we are better positioned now than at any time in the past 15 years to accelerate growth and establish market leadership. Sincerely, Thomas M. Siebel Chairman and CEO
Use of Forward-Looking Statements This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this document other than statements of historical facts, including our market leadership position, our expectations for our market, including the size of our addressable market, our future product offerings and their expected features, functionality and capabilities, our results of operations and financial outlook, the promise of AI, Generative AI and related use cases, our expected joint sales and services activity with our strategic partners, our business strategies, plans, objectives and timelines for future operations and other matters that are based on current expectations, estimates, assumptions and projections, and anticipated or expected benefits and timing of the rollout of new technology are forward looking statements. The words believe, continue, expect, will and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks and uncertainties. Some of these risks are described in greater detail in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2025 and our Quarterly Reports on Form 10-Q, and other filings and reports we make with the Securities and Exchange Commission from time to time, although new and unanticipated risks may arise. The future events and trends discussed in this document may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. Except to the extent required by law, we do not undertake to update any of these forward-looking statements after the date of this document to conform these statements to actual results or revised expectations.
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AI Shareholder/Stockholder Letter Transcript:


Letter to Shareholders
Dear C3 AI Shareholder,
I am pleased to report excellent financial results for the fiscal year ending April 30, 2025. We delivered accelerating
growth for the business, particularly across Federal, State and Local, and Agentic AI. Our year-over-year revenue growth rate
has accelerated over the last three years from 6% to 16% to now 25% in 2025.
In the course of the year, we have substantially advanced and improved our product offering. The full production release of
the C3 Agentic AI Platform Version 8 and Version 8 applications provide our customers with dramatic increases in scalability,
usability, and performance. We also announced the imminent availability of C3 AI Data Fusion, C3 AI Vision, C3 Agentic AI
Everywhere, and the C3 AI Developer Hub.
C3 AI Data Fusion offers point-and-click, drag-and-drop, WYSIWYG omni-modal data fusion of structured data,
unstructured data, enterprise data, telemetry, signals, images, voice, chatter, and more, into unified federated virtual ontologies.
This capability offers unprecedented speed and ease of use in developing complex AI application-independent data ontologies
including full capabilities for data veracity, provenance, and logging.
C3 AI Vision represents business and user processes as high-fidelity interactive 3D digital twins, significantly increasing
usability.
C3 AI was awarded the U.S. Patent for agentic AI, effective December 2022. In fiscal year 2025, our agentic AI offerings
became our fastest growing product set with a year-over-year growth rate of more than 100%; we currently have over 100
agentic AI solutions in the market that are being well received by our customers. With C3 Agentic AI Everywhere, we now
provide the ability to embed AI agents anywhere in an AI application, enabling the use of natural language to author, query, and
orchestrate business and industrial processes as AI agents     substantially extending the capabilities previously offered by
robotic process automation (RPA). Importantly, C3 Agentic AI enables our customers to represent business and industrial
processes e.g., order to cash, product returns, cement production, and electricity generation, as C3 AI Agents.
The C3 AI Developer Hub offers just-in-time context-sensitive user and developer documentation, generative AI C3 code
generation and quality assurance, online training, and both private and public developer communities. This offers
unprecedented developer productivity and ease of product adoption.
As of April 2025, our application product offerings exceeded 130 including a suite of products that address the needs of
manufacturing, supply chain, demand chain, fraud, energy efficiency, life sciences, consumer packaged goods, chemicals, oil &
gas, utilities, defense, intelligence, and others. We believe this is the most comprehensive set of Enterprise AI applications
offered by any vendor in the world.
It is difficult to overestimate the potential of the strategic partnerships that were formed with Microsoft, AWS, and
McKinsey & Company/QuantumBlack in fiscal year 2025. Each of these organizations has selected the C3 AI applications as
their preferred AI solutions. The C3 AI solutions are now available for sale by the Azure and AWS sales organizations;
orderable on the Microsoft and AWS Marketplaces; and the agreements can be consummated using both Azure and AWS
existing enterprise software agreements. We are engaged in hundreds of joint sales and services activity with these partners
today; and we hope to be engaged in thousands going forward.
We will be putting maximal focus in these partnerships in fiscal year 2026 and beyond to accelerate growth.
We significantly enhanced our sales and services leadership with the addition of highly experienced veterans in the roles of
Chief Commercial Officer, General Manager EMEA, GVP North America, and many other senior leadership roles.

Our objective remains to establish and maintain a global leadership position in Enterprise AI applications, targeting an
addressable market opportunity that may approach $2 trillion annually. As we enter fiscal year 2026, we have the C3 Agentic
AI Platform, C3 Enterprise AI applications, and C3 Agentic AI solutions that are tried, tested, and proven. The market is huge
    our products are proven excellent, our customers continue to express high levels of customer satisfaction, the company is
well capitalized, and we are better positioned now than at any time in the past 15 years to accelerate growth and establish
market leadership.
Sincerely,
Thomas M. Siebel
Chairman and CEO

Use of Forward-Looking Statements
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this document other than statements of historical facts, including our market leadership
position, our expectations for our market, including the size of our addressable market, our future product offerings and their
expected features, functionality and capabilities, our results of operations and financial outlook, the promise of AI, Generative
AI and related use cases, our expected joint sales and services activity with our strategic partners, our business strategies, plans,
objectives and timelines for future operations and other matters that are based on current expectations, estimates, assumptions
and projections, and anticipated or expected benefits and timing of the rollout of new technology are forward looking
statements. The words    believe,       continue,       expect,       will    and similar expressions are intended to identify forward-looking
statements. We have based these forward-looking statements largely on our current expectations and projections about future
events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and
long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of
risks and uncertainties. Some of these risks are described in greater detail in our filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2025 and our Quarterly Reports on
Form 10-Q, and other filings and reports we make with the Securities and Exchange Commission from time to time, although
new and unanticipated risks may arise. The future events and trends discussed in this document may not occur and actual
results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Although we
believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will
occur. Except to the extent required by law, we do not undertake to update any of these forward-looking statements after the
date of this document to conform these statements to actual results or revised expectations.


shareholder letter icon 8/21/2025 Letter Continued (Full PDF)
 

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