C3 AI reports declining revenue, announces new CEO to replace Siebel
Summary
C3 AI reported first-quarter revenue of $70.3 million, down from $87.2 million a year earlier, and its net loss widened. The company also announced Stephen Ehikian as its new CEO, effective September 1, after launching a search in July. Ehikian brings experience from previous tech ventures that were acquired by Salesforce. C3 AI highlighted its enterprise AI platform and said it expects to capture a larger share of the enterprise AI market. The company has recently faced pressure from weak results and a restructuring of its sales and services organization.
Classifications
industries
Fintech & Banking
applications
Data Management
AskAI Classifications
Labels
SaaS
CRM Software
Enterprise Software
Linked Companies
Salesforce
$1B+
C3 AI
$100M to $250M