C3.ai raises full-year forecast due to strong demand for enterprise AI software

(Reuters) – C3.ai on Monday raised its forecast for fiscal 2025 revenue, helped by good demand for the company’s enterprise artificial intelligence software, as companies look for tools to help them streamline their workflows.

The company now expects revenue to be between $378 million and $398 million, compared to its previous guidance of $370 million to $395 million.

The company’s shares rose 14.8% in extended trading.

The Redwood, California-based company provides software for companies to build and develop AI applications for various industries, including energy, manufacturing, financial services and healthcare.

The company’s shares are up over 45% so far this year, thanks in part to its expanded partnership with cloud heavyweight Microsoft, making C3.ai the “preferred” provider of AI application software in the Azure cloud from Microsoft.

According to data compiled by LSEG, C3.ai reported second-quarter revenue of $94.3 million, up 29% from a year ago and above analysts’ estimate of $91 million.

On an adjusted basis, the company reported a loss of 6 cents, while analysts had expected a loss of 16 cents.

(Reporting by Zaheer Kachwala and Rishi Kant in Bengaluru; Editing by Alan Barona)