(C3 AI) C3 AI shares fell almost 25% in premarket on Thursday after guiding revenue of between $65 million to $67 million in the first quarter of 2023.
The revenue guidance was lower than the revenue of $72.3 million reported in the fourth quarter of 2022, up 38% from the prior year.
For FY22, C3 AI reported revenue of $252.8 million, an increase of 38% from the prior year. The company still guided a higher revenue of between $308.0 million to $316.0 million in FY23.
In the fourth quarter, C3 AI reported a net loss per share of $0.55, wider than a loss per share of $0.24 per share in the prior year. Net loss per share in FY22 was $1.84, wider than a loss per share of $0.83 in the prior year.
C3 AI said it expects a non-GAAP loss from operations of $23.0 million to $28.0 million in the first quarter of 2023. The loss in FY23 is expected at between $76 million to $86 million.
AI: NYSE is down -24.64% in premarket.
