The C3.ai logo is seen near a computer motherboard in this illustration taken on Jan. 8, 2024.
Shares of the enterprise artificial intelligence company C3 AI tumbled 30% Monday after it announced preliminary financial results and a restructuring of its global sales and services organization.
C3 AI said Friday that it expects to report revenue between $70.2 million and $70.4 million for its fiscal first quarter 2026, though those figures are unaudited, preliminary estimates. The company reported $87.2 million in revenue during the same period a year earlier.
Thomas Siebel, C3 AI's CEO, said in a statement that sales results during the quarter were "completely unacceptable." He attributed the performance to the "disruptive effect" of the reorganization, as well as his ongoing health issues.
The company expects to report a GAAP loss from operations for the quarter between $124.7 million and $124.9 million, a much wider loss than a year ago, when C3 AI had a loss of $72.59 million.