C3.ai, Inc.
For the period ended Apr 30, 2026. Filed Jun 24, 2026.
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FY2026 · Filed Jun 24, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Fiscal Year Ended April 30, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| Cash flows from operating activities: | |||
| Net loss | $(470,369) | $(288,702) | $(279,696) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Depreciation and amortization | 13,554 | 12,607 | 12,719 |
| Non-cash operating lease cost | 370 | 358 | 742 |
| Stock-based compensation expense | 263,715 | 230,988 | 215,761 |
| Non-cash restructuring expense | 5,636 | — | — |
| Accretion of discounts on marketable securities | (8,484) | (13,459) | (17,214) |
| Other | 520 | 2,800 | 98 |
| Changes in operating assets and liabilities | |||
| Accounts receivable(1) | 36,490 | (9,120) | 4,522 |
| Prepaid expenses, other current assets and other assets(2) | (7,799) | 1,909 | 3,208 |
| Accounts payable(3) | (9,443) | 3,635 | (12,883) |
| Accrued compensation and employee benefits | (4,444) | 8,705 | (6,218) |
| Operating lease liabilities | (1,443) | 450 | 17,332 |
| Other liabilities(4) | (8,391) | 10,823 | 8,155 |
| Deferred revenue(5) | (140) | (2,401) | (8,888) |
| Net cash used in operating activities | (190,228) | (41,407) | (62,362) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (1,908) | (3,039) | (25,256) |
| Capitalized software development costs | — | — | (2,750) |
| Purchases of investments | (540,640) | (647,015) | (827,901) |
| Maturities and sales of investments | 617,632 | 666,450 | 789,292 |
| Net cash provided by (used in) investing activities | 75,084 | 16,396 | (66,615) |
| Cash flows from financing activities: | |||
| Taxes paid related to net share settlement of equity awards | — | (9,079) | (13,220) |
| Proceeds from issuance of Class A common stock under employee stock purchase plan | 9,290 | 10,879 | 10,763 |
| Proceeds from exercise of Class A common stock options | 7,693 | 20,423 | 13,751 |
| Net cash provided by financing activities | 16,983 | 22,223 | 11,294 |
| Net decrease in cash, cash equivalents and restricted cash | (98,161) | (2,788) | (117,683) |
| Cash, cash equivalents and restricted cash at beginning of period | 176,924 | 179,712 | 297,395 |
| Cash, cash equivalents and restricted cash at end of period | $78,763 | $176,924 | $179,712 |
| Cash and cash equivalents | 66,197 | 164,358 | 167,146 |
| Restricted cash included in other assets, non-current | 12,566 | 12,566 | 12,566 |
| Total cash, cash equivalents and restricted cash | $78,763 | $176,924 | $179,712 |
| Fiscal Year Ended April 30, | |||
|---|---|---|---|
| 2026 | 2025 | 2024 | |
| Supplemental disclosure of cash flow information - cash paid for income taxes | $838 | $920 | $975 |
| Supplemental disclosures of non-cash investing and financing activities: | |||
| Purchases of property and equipment included in accounts payable and accrued liabilities | $153 | $311 | $474 |
| Right-of-use assets obtained in exchange for lease obligations (including remeasurement of right-of-use assets and lease liabilities due to changes in the timing of receipt of lease incentives) | $(166) | $1,016 | $1,833 |
| Receivable from exercise of stock options included in prepaid expenses, other current assets and other assets | $— | $— | $3 |
| Vesting of early exercised stock options | $6 | $195 | $507 |
(1)Including changes in related party balances of $12,444 for the fiscal year ended April 30, 2024.
(2)Including changes in related party balances of $(810) for the fiscal year ended April 30, 2024.
(3)Including changes in related party balances of $248 for the fiscal year ended April 30, 2024.
(4)Including changes in related party balances of $(2,448) for the fiscal year ended April 30, 2024.
(5)Including changes in related party balances of $(46) for the fiscal year ended April 30, 2024.
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