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C3.ai Continues On Track With Its Path To Profitability, Meta Platforms and DuPont de Nemours Upgraded

  • May 15th, 2023
  • 470 views

C3.ai, Inc. (NYSE: AI) has released its preliminary results for the fourth fiscal quarter and fiscal year ended April 30, 2023. Here are the key highlights:

- Total revenue for the quarter: C3.ai reported total revenue ranging from $72.1 million to $72.4 million, which exceeded the company's guidance.

- Net cash provided by operating activities: The company generated net cash ranging from $28.1 million to $29.5 million from its operating activities.

- Positive free cash flow: C3.ai achieved positive free cash flow ranging from $18.0 million to $19.4 million. Positive free cash flow indicates that the company generated more cash from its operations than it used for investments and other activities.

- GAAP loss from operations: C3.ai reported a GAAP loss from operations ranging from ($75.9) million to ($77.1) million. This figure represents the operating loss incurred by the company using generally accepted accounting principles (GAAP).

- Non-GAAP loss from operations: The company's non-GAAP loss from operations ranged from ($23.7) million to ($23.9) million. Non-GAAP figures exclude certain expenses or income that management considers non-recurring or not directly related to the core operations of the business.

C3.ai also provided additional comments on its fiscal fourth-quarter business results, indicating that it remains on track to achieve profitability. The company aims to achieve a non-GAAP profitable business by the end of fiscal year 2024, which is April 30, 2024. The positive results obtained so far, including the estimated free cash flow and a cash position of over $800 million, contribute to the company's progress toward this goal.

In pre-market trading, $AI is currently priced at $19.61, reflecting an increase of $0.19 or 0.98%. 

Meta Platforms, Inc. (Nasdaq: META) has received an upgrade from Hold to Buy, accompanied by a price target increase. Loop Capital has upgraded the company, setting a new price target of $320, up from the previous $220. This upgrade reflects a positive outlook on Meta Platforms, and suggests potential growth in its stock value.

As of pre-market trading, $META is currently priced at $236.50, showing an increase of $2.69 or 1.15%. 

Similarly, DuPont de Nemours, Inc. (NYSE: DD) has also experienced an upgrade in its stock rating. Deutsche Bank has upgraded DuPont de Nemours from Hold to Buy, while raising the price target from $70 to $80.

During pre-market trading, $DD is trading at $65.54, displaying an increase of $1.77 or 2.78%.

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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