C3.ai, Inc(NYSE:AI)
C3.ai, Inc. operates as an enterprise artificial intelligence (AI) software company. The company provides software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to ...
Website: https://c3.ai/
Founded: 2009
IPO Price: $42 (Dec 09, 2020)
Full Time Employees: 746 (Apr 2023)
CEO / Founder: Thomas Siebel
Sector: Technology
Industry: Information Technology Services
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2025-10-31 | 2025-07-31 | 2025-04-30 | 2025-01-31 | 2024-10-31 | 2024-07-31 | 2024-04-30 | 2024-01-31 | 2023-10-31 | 2023-07-31 | 2023-04-30 | 2023-01-31 | 2022-10-31 | 2022-07-31 | 2022-04-30 | 2022-01-31 | 2021-10-31 | 2021-07-31 | 2021-04-30 | 2021-01-31 |
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revenue | ||||||||||||||||||||
subscription | 70,242,000 | 60,301,000 | 87,333,000 | 85,679,000 | 81,162,000 | 73,456,000 | 79,903,000 | 70,400,000 | 66,449,000 | 61,352,000 | 56,866,000 | 57,043,000 | 59,508,000 | 57,026,000 | 56,302,000 | 57,084,000 | 47,408,000 | 46,122,000 | 43,118,000 | 42,699,000 |
professional services | 4,905,000 | 9,960,000 | 21,390,000 | 13,103,000 | 13,176,000 | 13,757,000 | 6,687,000 | 8,001,000 | 6,780,000 | 11,010,000 | 15,544,000 | 9,626,000 | 2,900,000 | 8,282,000 | 16,015,000 | 12,689,000 | 10,855,000 | 6,284,000 | 9,166,000 | 6,410,000 |
total revenue | 75,147,000 | 70,261,000 | 108,723,000 | 98,782,000 | 94,338,000 | 87,213,000 | 86,590,000 | 78,401,000 | 73,229,000 | 72,362,000 | 72,410,000 | 66,669,000 | 62,408,000 | 65,308,000 | 72,317,000 | 69,773,000 | 58,263,000 | 52,406,000 | 52,284,000 | 49,109,000 |
yoy | -20.34% | -19.44% | 25.56% | 26.00% | 28.83% | 20.52% | 19.58% | 17.60% | 17.34% | 10.80% | 0.13% | -4.45% | 7.11% | 24.62% | 38.32% | 42.08% | ||||
qoq | 6.95% | -35.38% | 10.06% | 4.71% | 8.17% | 0.72% | 10.45% | 7.06% | 1.20% | -0.07% | 8.61% | 6.83% | -4.44% | -9.69% | 3.65% | 19.76% | 11.18% | 0.23% | 6.47% | |
cost of revenue | ||||||||||||||||||||
total cost of revenue | 44,767,000 | 43,817,000 | 41,213,000 | 40,435,000 | 36,498,000 | 35,047,000 | 34,979,000 | 33,114,000 | 32,116,000 | 31,813,000 | 24,908,000 | 22,271,000 | 20,752,000 | 18,406,000 | 17,363,000 | 17,354,000 | 15,971,000 | 13,025,000 | 11,712,000 | 12,226,000 |
gross profit | 30,380,000 | 26,444,000 | 67,510,000 | 58,347,000 | 57,840,000 | 52,166,000 | 51,611,000 | 45,287,000 | 41,113,000 | 40,549,000 | 47,502,000 | 44,398,000 | 41,656,000 | 46,902,000 | 54,954,000 | 52,419,000 | 42,292,000 | 39,381,000 | 40,572,000 | 36,883,000 |
yoy | -47.48% | -49.31% | 30.81% | 28.84% | 40.69% | 28.65% | 8.65% | 2.00% | -1.30% | -13.55% | -13.56% | -15.30% | -1.50% | 19.10% | 35.45% | 42.12% | ||||
qoq | 14.88% | -60.83% | 15.70% | 0.88% | 10.88% | 1.08% | 13.96% | 10.15% | 1.39% | -14.64% | 6.99% | 6.58% | -11.19% | -14.65% | 4.84% | 23.95% | 7.39% | -2.94% | 10.00% | |
gross margin % | 40.43% | 37.64% | 62.09% | 59.07% | 61.31% | 59.81% | 59.60% | 57.76% | 56.14% | 56.04% | 65.60% | 66.59% | 66.75% | 71.82% | 75.99% | 75.13% | 72.59% | 75.15% | 77.60% | 75.10% |
operating expenses | ||||||||||||||||||||
sales and marketing | 58,337,000 | 62,513,000 | 70,690,000 | 61,201,000 | 55,643,000 | 52,125,000 | 63,247,000 | 57,140,000 | 49,895,000 | 43,885,000 | 51,701,000 | 43,497,000 | 44,936,000 | 42,987,000 | 47,450,000 | 43,146,000 | 46,166,000 | 36,822,000 | 32,093,000 | 28,450,000 |
research and development | 58,352,000 | 64,651,000 | 58,393,000 | 59,356,000 | 55,715,000 | 52,927,000 | 50,618,000 | 49,480,000 | 50,399,000 | 50,868,000 | 49,681,000 | 55,051,000 | 50,051,000 | 55,877,000 | 46,378,000 | 40,931,000 | 36,523,000 | 26,712,000 | 20,711,000 | 18,748,000 |
general and administrative | 25,804,000 | 24,099,000 | 27,392,000 | 25,375,000 | 21,770,000 | 19,700,000 | 20,053,000 | 21,213,000 | 20,215,000 | 19,889,000 | 19,400,000 | 17,888,000 | 18,635,000 | 21,247,000 | 17,649,000 | 15,748,000 | 15,279,000 | 12,364,000 | 11,676,000 | 8,184,000 |
total operating expenses | 142,493,000 | 151,263,000 | 156,475,000 | 145,932,000 | 133,128,000 | 124,752,000 | 133,918,000 | 127,833,000 | 120,509,000 | 114,642,000 | 120,782,000 | 116,436,000 | 113,622,000 | 120,111,000 | 111,477,000 | 99,825,000 | 97,968,000 | 75,898,000 | 64,480,000 | 55,382,000 |
income from operations | -112,113,000 | -124,819,000 | -88,965,000 | -87,585,000 | -75,288,000 | -72,586,000 | -82,307,000 | -82,546,000 | -79,396,000 | -74,093,000 | -73,280,000 | -72,038,000 | -71,966,000 | -73,209,000 | -56,523,000 | -47,406,000 | -55,676,000 | -36,517,000 | -23,908,000 | -18,499,000 |
yoy | 48.91% | 71.96% | 8.09% | 6.10% | -5.17% | -2.03% | 12.32% | 14.59% | 10.32% | 1.21% | 29.65% | 51.96% | 29.26% | 100.48% | 136.42% | 156.26% | ||||
qoq | -10.18% | 40.30% | 1.58% | 16.33% | 3.72% | -11.81% | -0.29% | 3.97% | 7.16% | 1.11% | 1.72% | 0.10% | -1.70% | 29.52% | 19.23% | -14.85% | 52.47% | 52.74% | 29.24% | |
operating margin % | -149.19% | -177.65% | -81.83% | -88.66% | -79.81% | -83.23% | -95.05% | -105.29% | -108.42% | -102.39% | -101.20% | -108.05% | -115.32% | -112.10% | -78.16% | -67.94% | -95.56% | -69.68% | -45.73% | -37.67% |
interest income | 7,539,000 | 8,218,000 | 7,949,000 | 8,677,000 | 9,560,000 | 10,003,000 | 9,482,000 | 9,995,000 | 10,480,000 | 10,122,000 | 8,230,000 | 6,987,000 | 4,224,000 | 2,538,000 | 750,000 | 410,000 | 322,000 | 345,000 | 258,000 | 129,000 |
other income | 143,000 | 132,000 | 1,425,000 | -957,000 | 13,000 | 28,000 | -173,000 | 409,000 | -638,000 | -239,000 | 284,000 | 2,032,000 | -945,000 | -1,021,000 | -2,452,000 | 7,742,000 | -1,372,000 | -899,000 | -152,000 | 1,721,000 |
income before provision for income taxes | -104,431,000 | -116,469,000 | -79,591,000 | -79,865,000 | -65,715,000 | -62,555,000 | -72,998,000 | -72,142,000 | -69,554,000 | -64,210,000 | -50,849,500 | -63,019,000 | -68,687,000 | |||||||
provision for income taxes | 237,000 | 300,000 | 111,000 | 336,000 | 257,000 | 272,000 | -71,000 | 489,000 | 226,000 | 148,000 | 190,000 | 143,000 | 163,000 | 179,000 | 195,000 | 193,000 | 13,000 | 388,000 | 248,000 | 203,000 |
net income | -104,668,000 | -116,769,000 | -79,702,000 | -80,201,000 | -65,972,000 | -62,827,000 | -72,927,000 | -72,631,000 | -69,780,000 | -64,358,000 | -64,956,000 | -63,162,000 | -68,850,000 | -71,871,000 | -58,420,000 | -39,447,000 | -56,739,000 | -37,459,000 | -24,050,000 | -16,852,000 |
yoy | 58.66% | 85.86% | 9.29% | 10.42% | -5.46% | -2.38% | 12.27% | 14.99% | 1.35% | -10.45% | 11.19% | 60.12% | 21.35% | 91.87% | 142.91% | 134.08% | ||||
qoq | -10.36% | 46.51% | -0.62% | 21.57% | 5.01% | -13.85% | 0.41% | 4.09% | 8.42% | -0.92% | 2.84% | -8.26% | -4.20% | 23.02% | 48.10% | -30.48% | 51.47% | 55.75% | 42.71% | |
net income margin % | -139.28% | -166.19% | -73.31% | -81.19% | -69.93% | -72.04% | -84.22% | -92.64% | -95.29% | -88.94% | -89.71% | -94.74% | -110.32% | -110.05% | -80.78% | -56.54% | -97.38% | -71.48% | -46.00% | -34.32% |
net income per share | -0.75 | -0.86 | -0.6 | -0.62 | -0.52 | -0.5 | -0.59 | -0.6 | -0.59 | -0.56 | -0.58 | -0.57 | -0.63 | -0.67 | -0.55 | -0.38 | -0.55 | |||
weighted-average shares used for eps calculation | 138,670 | 135,375 | 129,089 | 130,382 | 127,870 | 124,979 | 119,362 | 120,486 | 118,656 | 115,681 | 106,351 | 110,735 | 108,876 | 106,842 | 100,904 | 101,593 | 100,246 | 98,655,000 | 56,677,947,000 | 68,648,229,000 |
net loss before provision for income taxes | -71,692,000 | -58,225,000 | -39,254,000 | -56,726,000 | -23,802,000 | -16,649,000 | ||||||||||||||
net income before provision for income taxes | -37,071,000 | |||||||||||||||||||
net income attributable to class a common shareholders, basic and diluted | -370 | |||||||||||||||||||
net income attributable to class a-1 common shareholders, basic and diluted | ||||||||||||||||||||
net income attributable to class b common shareholders, basic and diluted | -370 | |||||||||||||||||||
net loss attributable to class a common shareholders, basic and diluted | -160 | -230 | ||||||||||||||||||
net loss attributable to class a-1 common shareholders, basic and diluted | -130 | -100 | ||||||||||||||||||
net loss attributable to class b common shareholders, basic and diluted | -30 | -130 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-10-31 | 2025-07-31 | 2025-04-30 | 2025-01-31 | 2024-10-31 | 2024-07-31 | 2024-04-30 | 2024-01-31 | 2023-10-31 | 2023-07-31 | 2023-04-30 | 2023-01-31 | 2022-10-31 | 2022-07-31 | 2022-04-30 | 2022-01-31 | 2021-10-31 | 2021-07-31 | 2021-04-30 | 2021-01-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||
current assets | ||||||||||||||||||||
cash and cash equivalents | 103,205,000 | 80,941,000 | 164,358,000 | 125,094,000 | 121,274,000 | 133,820,000 | 167,146,000 | 114,561,000 | 149,009,000 | 206,442,000 | 284,829,000 | 311,142,000 | 277,622,000 | 221,883,000 | 339,528,000 | 204,531,000 | 167,436,000 | 273,779,000 | 115,355,000 | 960,122,000 |
marketable securities | 571,829,000 | 630,957,000 | 578,330,000 | 599,233,000 | 609,100,000 | 628,715,000 | 583,221,000 | 608,761,000 | 613,260,000 | |||||||||||
accounts receivable | 136,064,000 | 113,925,000 | 137,226,000 | 180,357,000 | 159,987,000 | 140,070,000 | 130,064,000 | 173,478,000 | 143,153,000 | 122,568,000 | 134,586,000 | 143,678,000 | 94,759,000 | 81,298,000 | 80,271,000 | 68,178,000 | 27,168,000 | 55,831,000 | 65,460,000 | 30,231,000 |
prepaid expenses and other current assets | 34,800,000 | 25,290,000 | 24,338,000 | 26,219,000 | 27,458,000 | 23,806,000 | 23,963,000 | 29,227,000 | 25,662,000 | 21,352,000 | 23,309,000 | 30,392,000 | 25,239,000 | 18,056,000 | 20,004,000 | 25,754,000 | 18,536,000 | 12,564,000 | 14,302,000 | 13,503,000 |
total current assets | 845,898,000 | 851,113,000 | 904,252,000 | 930,903,000 | 917,819,000 | 926,411,000 | 904,394,000 | 926,027,000 | 931,084,000 | 894,795,000 | 888,879,000 | 946,510,000 | 960,068,000 | 1,006,634,000 | 1,060,436,000 | 1,062,567,000 | 1,016,126,000 | 1,167,385,000 | 1,173,137,000 | 1,166,736,000 |
property and equipment | 73,681,000 | 76,600,000 | 79,298,000 | 81,910,000 | 84,198,000 | 86,480,000 | 88,631,000 | 91,003,000 | 92,651,000 | 88,666,000 | 84,578,000 | 75,197,000 | 61,724,000 | 38,928,000 | 14,517,000 | 5,297,000 | 5,239,000 | 5,687,000 | 6,133,000 | 6,844,000 |
goodwill | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 | 625,000 |
other assets, non-current | 41,094,000 | 40,401,000 | 41,707,000 | 41,703,000 | 43,647,000 | 44,104,000 | 44,575,000 | 46,334,000 | 46,754,000 | 46,611,000 | 47,528,000 | 55,512,000 | 59,502,000 | 60,097,000 | 63,218,000 | 65,006,000 | 41,161,000 | 17,843,000 | 16,582,000 | 10,369,000 |
total assets | 961,298,000 | 968,739,000 | 1,025,882,000 | 1,055,141,000 | 1,046,289,000 | 1,057,620,000 | 1,038,225,000 | 1,063,989,000 | 1,071,114,000 | 1,089,403,000 | 1,103,028,000 | 1,095,213,000 | 1,100,605,000 | 1,137,169,000 | 1,170,882,000 | 1,187,507,000 | 1,164,870,000 | 1,191,540,000 | 1,196,477,000 | 1,184,574,000 |
liabilities and stockholders’ equity | ||||||||||||||||||||
current liabilities | ||||||||||||||||||||
accounts payable | 35,936,000 | 12,084,000 | 15,160,000 | 28,737,000 | 20,611,000 | 31,615,000 | 11,316,000 | 19,845,000 | 25,740,000 | 26,885,000 | 24,610,000 | 19,990,000 | 30,662,000 | 40,748,000 | 54,218,000 | 14,478,000 | 10,129,000 | 10,051,000 | 12,075,000 | 12,608,000 |
accrued compensation and employee benefits | 48,930,000 | 45,396,000 | 53,868,000 | 48,727,000 | 41,755,000 | 33,927,000 | 44,263,000 | 37,822,000 | 37,648,000 | 32,454,000 | 46,513,000 | 39,522,000 | 37,728,000 | 29,208,000 | 32,223,000 | 22,588,000 | 16,478,000 | 14,757,000 | 21,829,000 | 17,996,000 |
deferred revenue, current | 32,398,000 | 28,948,000 | 36,561,000 | 32,955,000 | 35,663,000 | 39,580,000 | 37,230,000 | 39,121,000 | 40,486,000 | 40,943,000 | 47,846,000 | 38,893,000 | 30,380,000 | 43,644,000 | 48,854,000 | 58,524,000 | 71,901,000 | 98,217,000 | 72,263,000 | 59,950,000 |
accrued and other current liabilities | 13,561,000 | 24,863,000 | 26,295,000 | 27,628,000 | 23,979,000 | 12,805,000 | 9,526,000 | 12,391,000 | 10,280,000 | 10,429,000 | 17,070,000 | 25,203,000 | 19,885,000 | 17,651,000 | 14,874,000 | 33,598,000 | 33,675,000 | 17,108,000 | 18,318,000 | 13,544,000 |
total current liabilities | 130,825,000 | 111,291,000 | 131,884,000 | 138,047,000 | 122,008,000 | 117,927,000 | 102,335,000 | 109,179,000 | 114,154,000 | 110,711,000 | 136,039,000 | 123,608,000 | 118,655,000 | 131,251,000 | 150,169,000 | 129,188,000 | 132,183,000 | 140,133,000 | 124,485,000 | 104,098,000 |
deferred revenue, non-current | 2,283,000 | 985,000 | 127,000 | 717,000 | 1,732,000 | 2,183,000 | 68,000 | 17,000 | 4,000 | 51,000 | 228,000 | 21,000 | 288,000 | 924,000 | 980,000 | 1,680,000 | 2,964,000 | 2,360,000 | ||
other long-term liabilities | 56,305,000 | 57,639,000 | 55,695,000 | 56,917,000 | 65,193,000 | 64,055,000 | 60,805,000 | 54,632,000 | 45,616,000 | 46,233,000 | 37,320,000 | 24,184,000 | 28,556,000 | 26,919,000 | 30,948,000 | 30,720,000 | 5,197,000 | 5,932,000 | 7,853,000 | 4,004,000 |
total liabilities | 189,413,000 | 169,915,000 | 187,579,000 | 194,964,000 | 187,328,000 | 182,699,000 | 164,872,000 | 165,994,000 | 159,838,000 | 156,961,000 | 173,363,000 | 147,843,000 | 147,439,000 | 158,191,000 | 181,405,000 | 160,832,000 | 138,360,000 | 147,745,000 | 135,302,000 | 110,462,000 |
commitments and contingencies | ||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||
class a common stock | 137,000 | 133,000 | 130,000 | 129,000 | 125,000 | 123,000 | 120,000 | 118,000 | 116,000 | 114,000 | 110,000 | 109,000 | 107,000 | 105,000 | 103,000 | 103,000 | 102,000 | 101,000 | 99,000 | 98,000 |
class b common stock | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | |||||||||||||
additional paid-in capital | 2,371,034,000 | 2,294,166,000 | 2,216,284,000 | 2,158,686,000 | 2,077,044,000 | 2,027,274,000 | 1,963,726,000 | 1,914,450,000 | 1,856,307,000 | 1,807,678,000 | 1,740,174,000 | 1,693,574,000 | 1,637,980,000 | 1,594,487,000 | 1,532,917,000 | 1,510,343,000 | 1,470,176,000 | 1,430,296,000 | 1,410,325,000 | 1,399,281,000 |
accumulated other comprehensive income | 783,000 | -74,000 | 521,000 | 292,000 | 521,000 | 281,000 | 430,000 | -2,148,000 | -796,000 | -240,000 | 187,000 | 81,000 | 13,000 | |||||||
accumulated deficit | -1,600,072,000 | -1,495,404,000 | -1,378,635,000 | -1,298,933,000 | -1,218,732,000 | -1,152,760,000 | -1,089,933,000 | -1,017,006,000 | -944,375,000 | -874,595,000 | -810,237,000 | -745,281,000 | -682,119,000 | -613,269,000 | -541,398,000 | -482,978,000 | -443,531,000 | -386,792,000 | -349,333,000 | -325,283,000 |
total stockholders’ equity | 771,885,000 | 798,824,000 | 838,303,000 | 860,177,000 | 858,961,000 | 874,921,000 | 873,353,000 | 897,995,000 | 911,276,000 | 932,442,000 | 929,665,000 | 947,370,000 | 953,166,000 | 978,978,000 | 989,477,000 | 1,026,675,000 | 1,026,510,000 | 1,043,795,000 | 1,061,175,000 | 1,074,112,000 |
total liabilities and stockholders’ equity | 961,298,000 | 968,739,000 | 1,025,882,000 | 1,055,141,000 | 1,046,289,000 | 1,057,620,000 | 1,038,225,000 | 1,063,989,000 | 1,071,114,000 | 1,089,403,000 | 1,103,028,000 | 1,095,213,000 | 1,100,605,000 | 1,137,169,000 | 1,170,882,000 | 1,187,507,000 | 1,164,870,000 | 1,191,540,000 | ||
class b common stock, 0.001 par value... | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 | |||||||
long-term marketable securities | ||||||||||||||||||||
accumulated other comprehensive loss | -563,000 | -775,000 | -758,000 | -385,000 | -1,035,000 | -2,805,000 | -2,348,000 | |||||||||||||
short-term investments | 544,433,000 | 446,155,000 | 461,298,000 | 562,448,000 | 685,397,000 | 620,633,000 | 764,104,000 | 802,986,000 | 825,211,000 | 978,020,000 | 162,880,000 | |||||||||
long-term investments | 58,706,000 | 81,418,000 | 17,369,000 | 18,686,000 | 30,885,000 | 32,086,000 | 54,012,000 | 101,719,000 | ||||||||||||
liabilities, redeemable convertible preferred stock, redeemable convertible class a-1 common stock and stockholders’ equity | ||||||||||||||||||||
redeemable convertible preferred stock | ||||||||||||||||||||
redeemable convertible class a-1 common stock, 0.001 par value. no shares and 6,666,667 shares authorized as of april 30, 2021 and 2020, respectively; no shares and 6,666,665 shares issued and outstanding as of april 30, 2021 and 2020, respectively; liquidation preference of 18,800 as of april 30, 2020 | ||||||||||||||||||||
total liabilities, redeemable convertible preferred stock, redeemable convertible class a-1 common stock and stockholders’ equity | 1,196,477,000 | 1,184,574,000 | ||||||||||||||||||
redeemable convertible class a-1 common stock, 0.001 par value. no shares and 6,666,667 shares authorized as of january 31, 2021 and april 30, 2020, respectively; no shares and 6,666,665 shares issued and outstanding as of january 31, 2021 and april 30, 2020, respectively; liquidation preference of 18,800 as of april 30, 2020 | ||||||||||||||||||||
stockholders’ (deficit) equity |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-10-31 | 2025-07-31 | 2025-04-30 | 2025-01-31 | 2024-10-31 | 2024-07-31 | 2024-04-30 | 2024-01-31 | 2023-10-31 | 2023-07-31 | 2023-04-30 | 2023-01-31 | 2022-10-31 | 2022-07-31 | 2022-04-30 | 2022-01-31 | 2021-10-31 | 2021-07-31 | 2021-04-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||||
net loss | -104,668,000 | -116,769,000 | -79,702,000 | -80,201,000 | -65,972,000 | -62,827,000 | -72,927,000 | -72,631,000 | -69,780,000 | -64,358,000 | -64,956,000 | -63,162,000 | -68,850,000 | -71,871,000 | -58,420,000 | -39,447,000 | -24,050,000 | ||
adjustments to reconcile net loss to net cash from operating activities | |||||||||||||||||||
depreciation and amortization | 3,400,000 | 3,415,000 | 3,392,000 | 3,123,000 | 2,973,000 | 3,119,000 | 3,250,000 | 3,249,000 | 3,164,000 | 3,056,000 | 2,831,000 | 844,000 | 952,000 | 1,461,000 | 1,429,000 | 1,397,000 | 1,223,000 | 1,141,000 | 1,108,000 |
non-cash operating lease cost | 67,000 | 88,000 | 88,000 | 67,000 | 118,000 | 85,000 | 86,000 | 202,000 | 180,000 | 274,000 | 1,172,000 | 4,719,000 | -761,000 | 1,862,000 | 1,816,000 | 1,269,000 | 243,000 | 857,000 | 841,000 |
stock-based compensation expense | 68,853,000 | 64,775,000 | 56,615,000 | 62,652,000 | 57,038,000 | 54,683,000 | 56,729,000 | 54,983,000 | 53,169,000 | 50,880,000 | 48,068,000 | 55,831,000 | 56,013,000 | 56,630,000 | 35,628,000 | 31,361,000 | 32,540,000 | 13,912,000 | 7,470,000 |
accretion of discounts on marketable securities | -2,489,000 | -2,811,000 | -2,744,000 | -3,097,000 | -3,682,000 | -3,936,000 | -3,976,000 | -4,483,000 | |||||||||||
other | 15,000 | 262,000 | 642,000 | 1,740,000 | 320,000 | 98,000 | -12,000 | -3,949,000 | -2,530,000 | -1,383,000 | -474,000 | 78,000 | 1,346,000 | 793,000 | 337,000 | -875,000 | -65,000 | ||
changes in operating assets and liabilities | |||||||||||||||||||
accounts receivable | -22,160,000 | 23,302,000 | 42,897,000 | -21,966,000 | -20,014,000 | -10,037,000 | 43,414,000 | -30,325,000 | -20,584,000 | 12,017,000 | 9,092,000 | -48,941,000 | -13,741,000 | -927,000 | -12,193,000 | -41,010,000 | 28,664,000 | 10,383,000 | -35,278,000 |
prepaid expenses, other current assets and other assets | -3,182,000 | -230,000 | 1,322,000 | 2,580,000 | -3,597,000 | 1,604,000 | 6,587,000 | -2,714,000 | -3,716,000 | 3,051,000 | 7,169,000 | -4,541,000 | -6,114,000 | 2,910,000 | 6,530,000 | -6,034,000 | -17,171,000 | 2,097,000 | -7,924,000 |
accounts payable | 23,918,000 | -2,931,000 | -13,281,000 | 7,622,000 | -10,739,000 | 20,033,000 | -7,938,000 | -2,027,000 | -2,354,000 | -564,000 | 4,209,000 | 1,947,000 | -6,879,000 | -21,318,000 | 32,244,000 | 3,919,000 | 385,000 | -2,067,000 | 3,000 |
accrued compensation and employee benefits | -2,273,000 | 3,343,000 | 1,057,000 | 12,463,000 | -3,060,000 | -1,755,000 | -6,389,000 | 2,722,000 | -2,512,000 | -39,000 | 2,124,000 | 2,119,000 | -1,541,000 | 491,000 | 9,635,000 | 6,110,000 | 1,721,000 | -7,072,000 | 3,832,000 |
operating lease liabilities | -1,113,000 | 2,187,000 | -989,000 | 2,654,000 | -717,000 | -498,000 | 3,002,000 | 6,526,000 | -400,000 | 8,204,000 | 16,937,000 | -3,946,000 | 1,641,000 | -991,000 | -963,000 | -1,089,000 | -282,000 | -932,000 | |
other liabilities | -11,612,000 | -1,538,000 | -1,639,000 | -6,822,000 | 13,146,000 | 6,138,000 | 1,859,000 | 4,587,000 | -545,000 | 2,254,000 | -5,967,000 | -3,724,000 | 224,000 | -1,106,000 | -19,908,000 | 740,000 | 17,197,000 | -3,633,000 | 10,336,000 |
deferred revenue | 4,748,000 | -6,628,000 | 3,606,000 | -2,835,000 | -4,507,000 | 1,335,000 | -2,342,000 | 750,000 | -406,000 | -6,890,000 | 8,905,000 | 8,337,000 | -13,057,000 | -5,477,000 | -10,306,000 | -13,433,000 | -27,016,000 | 24,670,000 | 12,917,000 |
net cash from operating activities | -46,496,000 | -33,535,000 | 11,264,000 | -22,020,000 | -38,693,000 | 8,042,000 | 21,343,000 | -39,051,000 | -48,590,000 | 3,936,000 | 27,054,000 | -51,900,000 | -52,587,000 | -38,258,000 | -13,162,000 | -55,424,000 | -18,898,000 | 1,022,000 | -31,725,000 |
capital expenditures | -360,000 | -559,000 | -938,000 | 48,000 | -999,000 | -2,538,000 | -10,905,000 | -5,014,000 | -7,074,000 | -10,751,000 | -25,532,000 | -25,407,000 | 2,790,000 | -1,608,000 | -323,000 | -1,192,000 | -685,000 | 0 | |
free cash flows | -46,856,000 | -34,094,000 | 10,326,000 | -21,972,000 | -39,692,000 | 18,805,000 | -49,956,000 | -53,604,000 | -3,138,000 | 16,303,000 | -77,432,000 | -77,994,000 | -35,468,000 | -14,770,000 | -55,747,000 | -20,090,000 | 337,000 | -31,725,000 | |
cash flows from investing activities: | |||||||||||||||||||
purchases of property and equipment | -386,000 | -760,000 | -938,000 | -362,000 | -815,000 | -924,000 | -2,538,000 | -6,087,000 | -5,293,000 | -11,338,000 | -10,751,000 | -19,789,000 | -24,442,000 | -15,536,000 | -1,608,000 | -754,000 | -918,000 | -511,000 | |
purchases of marketable securities | -124,696,000 | -206,492,000 | -152,880,000 | -135,002,000 | -230,924,000 | -167,560,000 | |||||||||||||
maturities and sales of marketable securities | 187,170,000 | 156,081,000 | 165,615,000 | 158,452,000 | 190,298,000 | 177,745,000 | |||||||||||||
net cash from investing activities | 62,088,000 | -51,171,000 | 22,938,000 | 12,373,000 | 22,635,000 | -41,550,000 | 25,985,000 | 4,098,000 | -11,898,000 | -84,800,000 | -56,439,000 | 85,853,000 | 111,006,000 | -80,474,000 | 161,676,000 | 84,490,000 | -81,178,000 | 152,027,000 | -815,421,000 |
cash flows from financing activities: | |||||||||||||||||||
proceeds from issuance of class a common stock under employee stock purchase plan | 5,870,000 | 0 | 5,708,000 | 0 | |||||||||||||||
proceeds from exercise of class a common stock options | 1,694,000 | 1,289,000 | 775,000 | 15,176,000 | 1,345,000 | 3,127,000 | 2,372,000 | 1,216,000 | 568,000 | 9,595,000 | 2,104,000 | 582,000 | 695,000 | 1,087,000 | 1,482,000 | 8,029,000 | 6,259,000 | 5,046,000 | 2,848,000 |
taxes paid related to net share settlement of equity awards | -1,583,000 | -1,709,000 | -2,842,000 | -2,945,000 | -2,823,000 | -711,000 | -2,568,000 | -7,118,000 | -2,125,000 | -1,440,000 | |||||||||
net cash from financing activities | 6,672,000 | 1,289,000 | 5,062,000 | 13,467,000 | 3,512,000 | 182,000 | 5,257,000 | 505,000 | 3,055,000 | 2,477,000 | 3,072,000 | -858,000 | -2,680,000 | 1,087,000 | -13,518,000 | 8,029,000 | 6,225,000 | 4,975,000 | 2,379,000 |
net decrease in cash, cash equivalents and restricted cash | 22,264,000 | -83,417,000 | 39,264,000 | 3,820,000 | -12,546,000 | -33,326,000 | -34,448,000 | -57,433,000 | -78,387,000 | ||||||||||
cash, cash equivalents and restricted cash at beginning of period | 0 | 176,924,000 | 0 | 0 | 0 | 179,712,000 | 0 | 0 | 0 | 297,395,000 | 0 | 0 | 0 | 352,519,000 | 0 | 0 | 0 | 116,255,000 | 0 |
cash, cash equivalents and restricted cash at end of period | 22,264,000 | 93,507,000 | 39,264,000 | 3,820,000 | -12,546,000 | 146,386,000 | 52,585,000 | -34,448,000 | -57,433,000 | 219,008,000 | -26,313,000 | 33,095,000 | 55,739,000 | 234,874,000 | 134,996,000 | 37,095,000 | -93,851,000 | 274,279,000 | -844,767,000 |
cash and cash equivalents | 22,264,000 | 80,941,000 | 39,264,000 | 3,820,000 | -12,546,000 | 133,820,000 | 52,585,000 | -34,448,000 | -57,433,000 | 206,442,000 | -26,313,000 | 33,520,000 | 55,739,000 | 221,883,000 | 134,997,000 | 37,095,000 | -106,343,000 | 273,779,000 | -844,767,000 |
restricted cash included in other assets, non-current | 0 | 12,566,000 | 0 | 0 | 0 | 12,566,000 | 0 | 0 | 0 | 12,566,000 | 0 | 0 | 0 | 12,566,000 | |||||
total cash, cash equivalents and restricted cash | 22,264,000 | 93,507,000 | 39,264,000 | 3,820,000 | -12,546,000 | 146,386,000 | 52,585,000 | -34,448,000 | -57,433,000 | 219,008,000 | -26,313,000 | 33,095,000 | 55,739,000 | 234,874,000 | 134,996,000 | 37,095,000 | -93,851,000 | 274,279,000 | -844,767,000 |
supplemental disclosure of cash flow information—cash paid for income taxes | 197,000 | 452,000 | 209,000 | 242,000 | 292,000 | 479,000 | 131,000 | 150,000 | 83,000 | 70,000 | 66,000 | 52,000 | 390,000 | 235,000 | |||||
supplemental disclosures of non-cash investing and financing activities: | |||||||||||||||||||
purchases of property and equipment included in accounts payable and accrued liabilities | 26,000 | 201,000 | 410,000 | -184,000 | 301,000 | -4,818,000 | 1,529,000 | 5,764,000 | -5,743,000 | -965,000 | 19,326,000 | 431,000 | -274,000 | 326,000 | |||||
right-of-use assets obtained in exchange for lease obligations | 0 | -166,000 | -329,000 | 0 | 1,345,000 | 1,080,000 | 0 | 778,000 | |||||||||||
vesting of early exercised stock options | 2,000 | 5,000 | 35,000 | 111,000 | 105,000 | 112,000 | 281,000 | 228,000 | 333,000 | 483,000 | 849,000 | 1,059,000 | |||||||
capitalized software development costs | 0 | 0 | -1,250,000 | -1,500,000 | 0 | 0 | 0 | -1,000,000 | 0 | 0 | 0 | -500,000 | |||||||
purchases of investments | -322,534,000 | -247,961,000 | -113,264,000 | -157,657,000 | -226,367,000 | -256,197,000 | -151,420,000 | -292,922,000 | -95,948,000 | ||||||||||
maturities and sales of investments | 250,572,000 | 202,273,000 | 218,906,000 | 293,105,000 | 162,429,000 | 419,481,000 | 236,664,000 | 212,662,000 | 248,986,000 | ||||||||||
receivable from exercise of stock options included in prepaid expenses, other current assets and other assets | |||||||||||||||||||
repurchase and retirement of class a common stock | |||||||||||||||||||
payment of deferred offering costs | 0 | 0 | -34,000 | -71,000 | -469,000 | ||||||||||||||
net increase in cash, cash equivalents and restricted cash | -26,313,000 | 33,095,000 | 55,739,000 | -117,645,000 | 134,996,000 | 37,095,000 | -93,851,000 | 158,024,000 | -844,767,000 | ||||||||||
restricted cash included in prepaid expenses and other current assets | 0 | 425,000 | |||||||||||||||||
unpaid liabilities related to intangible purchases | 0 | 0 | 1,500,000 | 0 | 0 | 2,500,000 | |||||||||||||
proceeds from sale of non-marketable equity security | 0 | ||||||||||||||||||
proceeds from initial public offering and private placements, net of underwriting discounts | 0 | ||||||||||||||||||
proceeds from repayment of shareholder loan | 0 | ||||||||||||||||||
deferred offering costs included in accounts payable and accrued liabilities | 34,000 | ||||||||||||||||||
impairment on investment | |||||||||||||||||||
proceeds from issuance of series g, net of issuance costs | |||||||||||||||||||
proceeds from issuance of series h, net of issuance costs | |||||||||||||||||||
repurchase of common stock and options in tender offer | |||||||||||||||||||
proceeds from issuance of common stock | |||||||||||||||||||
restricted cash included in other assets | 0 | 12,492,000 | 500,000 | 0 | |||||||||||||||
net income | -37,459,000 | ||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities | |||||||||||||||||||
proceeds from payroll protection program loan | |||||||||||||||||||
lease liability | |||||||||||||||||||
purchase of property and equipment | |||||||||||||||||||
purchase of investments | |||||||||||||||||||
maturity and sale of investments | |||||||||||||||||||
supplemental disclosures of cash flow information—cash paid for income taxes | |||||||||||||||||||
supplemental disclosure of non-cash investing and financing activities: |

