C3.ai, Inc. Class A ver: 2

Q4 2021 Earnings Conference Call

6/2/2021

spk_2: Good day and thank you for standing by and welcome to the C. Three Ai. Fourth quarter fiscal year 2021 earnings call at this time. All participants are in a listen only mode. After the speaker's remarks, there will be a question and answer session to ask a question. During a session. You will need to grasp our one on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star zero. I would now like to handle conference over to your speaker today, paul phillips. Please go ahead.
spk_1: Good afternoon and welcome to C. Three A. I. S. Earnings call for the fourth quarter and full year fiscal 2021 which ended april 30th 2021. This is Paul Phillips VP of investor relations of c. three ai. With me on the call today are Tom Siebel, Chairman and chief executive officer and David Barner, chief financial officer. After the market closed today, we issued a press release with details regarding our fourth quarter and full year fiscal results, as well as a supplement to our results, both of which can be accessed on the investor relations section of our website at ir dot c three dot ai. This call is being webcast and the replay will be available on our our website following the conclusion of the call.
spk_0: During today's call,
spk_1: we will make statements relating to our business that may be considered forward looking under federal securities laws. These statements reflect our views only as of today and should not be considered representative of our views as of any subsequent date. We disclaim any obligation to update any forward looking statements or outlook. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations.
spk_0: For further discussion of the
spk_1: material risks and other important factors that could affect our actual results. Please refer to our filings with the sec. Also, during the course of today's call, we will refer to certain non gap financial measures. A reconciliation of gap to non gap measures is included in our press release. Finally, at times in our prepared comments or responses to your questions, we may discuss metrics that are incremental to our usual presentation. To provide greater insight into the dynamics of our business or annual results. Please be advised that we may or may not continue to provide this additional detail in the future. With that let me turn to call over the top or has prepared remarks. Well, thank
spk_0: you paul and good afternoon everyone. I am very pleased to give you an update on the state of the business. Bottom line. Q4 was a great quarter in the fiscal year, 21 was a great year. I'm pleased to report that C3 Ai is well positioned to substantially accelerate growth and continue to gain market share in the coming year. Let's talk about our 4th quarter results. We exceeded our guidance for both revenue, a non gap operating income. Our bookings grew, believe it or not over 500% in Q4 compared to the quarter. A year earlier, our bookings grew 179%, quarter to quarter Revenue in the fourth quarter was 52.3 million. An increase of 26% year over year subscription revenue for the quarter was 43.1 million, up from 36.8 million a year ago. An increase of 17% year over year, Gross profit for the quarter was 40.6 billion. A 78% gross margin, compared to 32.1 million gross profit a year ago. An increasing growth profit of 26% year over year remaining performance obligations were 293.8 million, compared to 239.7 million a year earlier, an increase of 23% year over year, including cancelling orders are non gap. R. P. O. Was 345.1 million, compared to 246.9 million a year ago. An increase of 40% year over here. Our total enterprise Ai customer account at the end of the year was 89, Representing an 82 growth rate. You're over here. Now, let's take a look at fiscal year, uh in entirety. Total revenue for the year was 183.2 million up from 156.7 million a year ago, an increase of 17% year over year. Subscription revenue for the year was 157.4 million, up from 135.4 million a year earlier, an increase of 16% year over Year 15 revenue, importantly.
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