former AI darling’s stock <\/a>fell over 25% Monday to just above $16. It has lost more than half its value since the year began.\n<\/p>\n C3.ai said it expects to report an adjusted loss of $57.7 million to $57.9 million, on revenue of $70.2 million to $70.4 million for its fiscal first quarter, down from $87.2 million in revenue the same period a year earlier.\u00a0In May, the company had guided for revenue of $100 to $109 million. The company is set to release its full results on Sept. 3.\n<\/p>\n
CEO Calls The Numbers ‘Completely Unacceptable’ <\/p>\n
CEO Tom Siebel called the sales figures \u201ccompletely unacceptable,\u201d and pointed to disruptions from a reorganization of the company\u2019s leadership and his health as contributing factors to the company’s poor performance.\u00a0\n<\/p>\n
The company announced in late July that it is actively searching for a successor to Siebel, who said he was diagnosed with an autoimmune disease and has experienced \u201cmultiple hospitalizations and vision impairment.\u201d\n<\/p>\n
D.A. Davidson analysts called the results \u201ccatastrophic\u201d in a note to clients Sunday, and downgraded C3.ai stock to \u201cunderperform\u201d following the results, writing they view “business trends as likely to get worse before they get better.”\n<\/p>\n
Analysts at Wedbush maintained an “outperform” rating for C3.ai stock after the results, but lowered their target to $23 from a Street high of $35 on Monday, calling the sales miss “brutal.”\n<\/p>\n
“It will take lots of time to regain Street confidence and build further momentum in the stock given the weakness in its operational performance,” the Wedbush analysts wrote.<\/p>\n","protected":false},"excerpt":{"rendered":"Key Takeaways Shares of C3.ai lost a quarter of their value after the AI software provider posted preliminary…\n","protected":false},"author":2,"featured_media":75808,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,181,507,74],"class_list":["post-75807","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/75807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=75807"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/75807\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/75808"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=75807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=75807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=75807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}