C3 AI stock falls 30% as CEO Siebel calls preliminary sales numbers 'completely unacceptable'

Shares of the endeavor artificial intelligence institution C3 AI tumbled 30% Monday aft it announced preliminary financial results and a restructuring of its planetary income and services organization.

C3 AI said Friday that it expects to study gross betwixt $70.2 cardinal and $70.4 cardinal for its fiscal archetypal 4th 2026, though those figures are unaudited, preliminary estimates. The institution reported $87.2 cardinal successful gross during the aforesaid play a twelvemonth earlier.

Thomas Siebel, C3 AI's CEO, said successful a connection that income results during the 4th were "completely unacceptable." He attributed the show to the "disruptive effect" of the reorganization, arsenic good arsenic his ongoing wellness issues.

The institution expects to study a GAAP nonaccomplishment from operations for the 4th betwixt $124.7 cardinal and $124.9 million, a overmuch wider nonaccomplishment than a twelvemonth ago, erstwhile C3 AI had a nonaccomplishment of $72.59 million.

"Unfortunately, dealing with these wellness issues prevented maine from participating successful the income process arsenic actively arsenic I person successful the past," Siebel said successful a statement. "With the payment of hindsight, it is present evident that my progressive information successful the income process whitethorn person had a greater interaction than I antecedently thought."

Siebel announced successful July that helium was diagnosed with an autoimmune illness earlier this year, resulting successful "significant ocular impairment." C3 AI's committee and Siebel person kicked disconnected a hunt for the company's adjacent main executive.

C3 AI said its income and services restructuring is complete, and Siebel said his wellness has "improved dramatically" but for his imaginativeness impairment. He said helium is feeling beardown and afloat engaged, and volition enactment to rapidly place "excellent" CEO candidates.

"I americium assured the institution is positioned to accelerate going forward," Siebel said.

The institution is scheduled to clasp a league telephone for archetypal 4th results connected Sept. 3 astatine 5 p.m. ET.