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- Departure of CEO (new) — Thomas Siebel resumed the CEO role amid a leadership transition, signaling prior management's inability to reverse steep revenue declines.
C3.ai CEO returns amid 53% revenue decline, $11M restructuring, guides further contraction
Filed June 3, 2026 · Period ending June 3, 2026 · ~1 min read
Key Changes
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high
Thomas Siebel resumed CEO role, calling recent sales performance "entirely unacceptable, to the point of surreal" as Q4 revenue fell 53% year-over-year to $51.6M and full-year revenue dropped 36% to $250.3M.
Exhibit 99.1 view on EDGAR → -
high
Company recorded $10.8M in restructuring charges (primarily $5.2M severance and $4.8M stock-based comp) tied to organizational overhaul and new executive leadership.
Exhibit 99.1 view on EDGAR → -
high
FY2027 guidance projects $210M–$240M revenue (midpoint down 10% from FY2026 actual) and non-GAAP operating loss of $128M–$160M, signaling continued contraction.
Exhibit 99.1 view on EDGAR → -
medium
Siebel purchased 6.17M shares at $11.16/share (~$68.9M), bringing cash balance to $673M as of June 3, 2026.
Exhibit 99.1 view on EDGAR → -
medium
Q4 GAAP net loss per share was $(0.79), non-GAAP $(0.33); full-year GAAP loss per share $(3.35), non-GAAP $(1.35), with gross margins compressed to 22% GAAP / 37% non-GAAP in Q4.
Exhibit 99.1 view on EDGAR →
Summary
C3.ai disclosed a leadership crisis and severe revenue contraction in its Q4 FY2026 results. Founder Thomas Siebel returned as CEO, describing recent sales performance as "entirely unacceptable, to the point of surreal." Revenue fell 53% year-over-year in Q4 to $51.6M and 36% for the full year to $250.3M, down from $389M in FY2025.
The company recorded $10.8M in restructuring charges—$5.2M in severance and $4.8M in stock-based comp—as it installed new executive leadership and overhauled its organization. The turnaround faces a steep climb. FY2027 guidance projects $210M–$240M in revenue (midpoint down another 10% from FY2026) and a non-GAAP operating loss of $128M–$160M, indicating the business will continue shrinking before any stabilization.
Siebel backed his return with a $68.9M insider purchase (6.17M shares at $11.16), bringing the cash balance to $673M. Investors should watch whether the new leadership can halt the revenue decline and whether the restructuring delivers the promised focus on cash generation and profitability—guidance suggests at least another year of contraction lies ahead.
Section-by-Section Diff
Event · Exhibit 99.1
C3.ai reported Q4 FY2026 results with $51.6M revenue, announced CEO leadership change, and disclosed restructuring charges.
Added in current filing · view on EDGAR →
Thomas M. Siebel Resumes Role of Chief Executive Officer
Thomas M. Siebel has resumed the role of Chief Executive Officer at C3.ai. The filing characterizes recent sales performance as "entirely unacceptable, to the point of surreal" and states the company has "a restructured organization, new executive leadership, and a detailed execution plan now in place with the singular focus of increasing shareholder value through topline revenue growth, cash generation, and non-GAAP profitability." This leadership change accompanies a broader organizational restructuring.
Added in current filing · view on EDGAR → · paraphrased
Total Revenue was $51.6 million. Subscription Revenue was $48.4 million. Subscription revenue constituted 94% of total revenue. GAAP gross profit was $11.3 million, representing a 22% gross margin. Non-GAAP gross profit was $19.3 million, representing a 37% non-GAAP gross margin. GAAP net loss per share was $(0.79). Non-GAAP net loss per share was $(0.33).
C3.ai reported Q4 FY2026 revenue of $51.6 million, down significantly from $108.7 million in Q4 FY2025. Subscription revenue was $48.4 million (94% of total). The company posted a GAAP net loss per share of $(0.79) and non-GAAP net loss per share of $(0.33). GAAP gross margin was 22%, while non-GAAP gross margin was 37%.
Added in current filing · view on EDGAR → · paraphrased
Total Revenue was $250.3 million. Subscription Revenue was $227.1 million. Subscription revenue constituted 91% of total revenue. Gross Profit: GAAP gross profit was $77.4 million, representing 31% gross margin. Non-GAAP gross profit was $116.2 million, representing a 46% non-GAAP gross margin. Net Loss per Share: GAAP net loss per share was $(3.35). Non-GAAP net loss per share was $(1.35).
For full fiscal year 2026, C3.ai reported total revenue of $250.3 million, down from $389.1 million in FY2025. Subscription revenue was $227.1 million (91% of total). The company posted a GAAP net loss per share of $(3.35) and non-GAAP net loss per share of $(1.35). Full-year GAAP gross margin was 31%, while non-GAAP gross margin was 46%.
Added in current filing · view on EDGAR →
Total revenue $50.0 - $54.0$210.0 - $240.0
Non-GAAP loss from operations $(40.5) - $(48.5) $(128.0) - $(160.0)
C3.ai guided Q1 FY2027 revenue to $50.0-$54.0 million and full-year FY2027 revenue to $210.0-$240.0 million, both ranges below FY2026 actual results. The company also disclosed that "its cash, cash equivalents, and marketable securities balance of $50.0 as of June 3, 2026 was $673 million. This includes the proceeds from Mr. Siebel's purchase of 6.17 million shares of C3 AI stock at a price of $11.16 per share," representing approximately $68.9 million in insider buying.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 26, 2026 · How we verify