C3 AI stock falls 20% as CEO calls sales ‘completely unacceptable’
The C3.Ai logo is seen in this picture on January 8, 2024 near a computer motherboard.
Dado Ruvic | Reuters
Enterprise Artificial Intelligence Company Shares C3 AI Monday rolled more than 20% after an announcement Financial results And one restructuring global sales and service organization.
C3 AI said on Friday, although these figures are unpredictable preliminary estimates, the first quarter of the first quarter of $ 70.2 million and 70.4 million dollars expects to declare revenue, he said. Company reported A year ago, 87.2 million dollars came in the same period.
C3 AI CEO Thomas Siebel said that the sales results in the quarter were “completely unacceptable”. His performance was attributed to the “destructive effect” and ongoing health problems of the restructuring.
When the C3 AI lost $ 72.59 million, a much wider loss than a year ago is waiting to report a GAAP loss from operations for a quarter of $ 124.7 million to $ 124.9 million.
“Unfortunately, dealing with these health problems, prevented me from participating in the sales process as actively in the past.” He said. “It is clear that with the benefit of walking, active participation in the sales process may have a greater impact than I thought before.”
Siebel announced In July, he was diagnosed with an autoimmune disease earlier this year, which resulted in “significant vision impairment”. The C3 AI’s board and Siebel searched for the next general manager of the company.
The C3 AI said that the restructuring of sales and services was completed and that Siebel’s health was “significantly improved” except for vision disorder. He said he felt strong and completely busy and will work to quickly define the “perfect” CEO candidates.
Siebel, “I’m sure the company is positioned in a way that will accelerate forward.” He said.
The company is planned to have a conference meeting for the first quarter results on September 3 at 17:00.
