0001628280-22-017829 | 10-K | XBRL Viewer

Accrued and other current liabilities

^[5]

48,854

72,263

^[6]

14,874

18,318

Total current liabilities

150,169

124,485

Deferred revenue, non-current

288

2,964

Other long-term liabilities

^[7]

30,948

7,853

Total liabilities

181,405

135,302

Commitments and contingencies (note 7)

Stockholders’ equity

Additional paid-in capital

1,532,917

1,410,325

Accumulated other comprehensive (loss) income

(2,148)

Accumulated deficit

(541,398)

(349,333)

Total stockholders’ equity

989,477

1,061,175

Total liabilities and stockholders’ equity

1,170,882

1,196,477

Class A Common Stock

Stockholders’ equity

Common stock

$ 103

$ 99

1,000,000,000

Class B Common Stock

Stockholders’ equity

Common stock

$ 3

Accounts receivable, allowance

3,500,000

[1]	Including amounts from a related party of $35,848 and $15,180 as of April 30, 2022 and 2021, respectively.
[2]	Including amounts from a related party of $4,862 and $1,662 as of April 30, 2022 and 2021, respectively.
[3]	Including amounts from a related party of $16,141 and $6,602 as of April 30, 2022 and 2021, respectively.
[4]	Including amounts from a related party of $18,549 and $56 as of April 30, 2022 and 2021, respectively.
[5]	Including amounts from a related party of $132 and $7,697 as of April 30, 2022 and 2021, respectively.
[6]	Including amounts from a related party of $2,510 and $3,413 as of April 30, 2022 and 2021, respectively.
[7]	Including amounts from a related party of $2,448 and $4,895 as of April 30, 2022 and 2021, respectively.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands

Apr. 30, 2022

Apr. 30, 2021

$ 157

$ 812

Accounts receivable, net, from related party

35,848

15,180

Prepaid expenses and other current assets, from related party

^[1]

20,004

14,302

Other assets, non-current, from related party

^[2]

63,218

16,582

Accounts payable, from related party

18,549

Deferred revenue, current, from related party

^[3]

48,854

72,263

Accrued and other current liabilities, from related party

^[4]

14,874

18,318

Other long-term liabilities, from related party

2,448

4,895

4,862

1,662

Other assets, non-current, from related party

16,141

6,602

Deferred revenue, current, from related party

132

7,697

Accrued and other current liabilities, from related party

$ 2,510

$ 3,413

Class A Common Stock

Common stock, par value (in dollars per share)

$ 0.001

Common stock, shares issued (in shares)

1,000,000,000

102,725,041

98,667,121

Common stock, shares outstanding (in shares)

102,725,041

98,667,121

Class B Common Stock

Common stock, par value (in dollars per share)

$ 0.001

Common stock, shares issued (in shares)

3,500,000

3,499,992

Common stock, shares outstanding (in shares)

3,499,992

[1]	Including amounts from a related party of $4,862 and $1,662 as of April 30, 2022 and 2021, respectively.
[2]	Including amounts from a related party of $16,141 and $6,602 as of April 30, 2022 and 2021, respectively.
[3]	Including amounts from a related party of $132 and $7,697 as of April 30, 2022 and 2021, respectively.
[4]	Including amounts from a related party of $2,510 and $3,413 as of April 30, 2022 and 2021, respectively.

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands

12 Months Ended

Apr. 30, 2022

Apr. 30, 2021

Apr. 30, 2020

Revenue

Total revenue

$ 252,759

$ 183,217

$ 156,666

Cost of revenue

Total cost of revenue

63,713

44,519

38,787

Gross profit

189,046

138,698

117,879

General and administrative

Sales and marketing

^[1]

173,584

96,991

94,974

Research and development

150,544

68,856

64,548

61,040

33,109

29,854

Total operating expenses

385,168

198,956

189,376

Loss from operations

(196,122)

(60,258)

(71,497)

Interest income

1,827

1,255

4,251

Other income (expense), net

3,019

4,011

(1,752)

Net loss before provision for income taxes

(191,276)

(54,992)

(68,998)

Provision for income taxes

789

704

380

Net loss

$ (192,065)

$ (55,696)

$ (69,378)

Class A Common Stock

Net loss per share attributable to common stockholders, basic (in dollars per share)

$ (1.84)

$ (0.90)

$ (1.94)

Net loss per share attributable to common stockholders, diluted (in dollars per share)

$ (1.84)

$ (0.90)

$ (1.94)

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)

100,904

56,678

29,133

Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)

100,904

56,678

29,133

Redeemable Convertible Common Class A-1 Stock

Net loss per share attributable to common stockholders, basic (in dollars per share)

$ 0

$ (0.55)

$ (1.94)

Net loss per share attributable to common stockholders, diluted (in dollars per share)

$ 0

$ (0.55)

$ (1.94)

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)

6,667

Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)

6,667

Class B Common Stock

Net loss per share attributable to common stockholders, basic (in dollars per share)

$ (1.84)

$ (0.35)

$ 0

Net loss per share attributable to common stockholders, diluted (in dollars per share)

$ (1.84)

$ (0.35)

$ 0

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)

3,500

Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)

3,500

Cost of subscription

Revenue

Total revenue

^[2]

$ 206,916

$ 157,366

$ 135,394

Cost of revenue

Total cost of revenue

^[3]

45,838

31,315

31,479

Professional services

Revenue

Total revenue

^[4]

45,843

25,851

21,272

Cost of revenue

Total cost of revenue

$ 17,875

$ 13,204

$ 7,308

[1]	Including related party sales and marketing expense of $8,229, $44 and nil for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.
[2]	Including related party revenue of $60,425, $30,557, and $40,425 for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.
[3]	Including related party cost of revenue of $578, $56 and nil for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.
[4]	Including related party revenue of $16,872, $4,825, and $292 for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($)
$ in Thousands

12 Months Ended

Apr. 30, 2022

Apr. 30, 2021

Apr. 30, 2020

Related party sales and marketing

$ 63,713

$ 44,519

$ 38,787

^[1]

173,584

96,991

94,974

Investor

Related party sales and marketing

8,229

Cost of subscription

Cost of subscription | Investor

^[2]

45,838

31,315

31,479

Related party revenue

60,425

30,557

40,425

578

Professional services

Professional services | Investor

17,875

13,204

7,308

Related party revenue

$ 16,872

$ 4,825

$ 292

[1]	Including related party sales and marketing expense of $8,229, $44 and nil for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.
[2]	Including related party cost of revenue of $578, $56 and nil for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.

The aggregate cost of goods produced and sold and services rendered during the reporting period.

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Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (192,065)	$ (55,696)	$ (69,378)
Other comprehensive (loss) income
Unrealized (loss) gain on investment securities, net of tax	(2,229)	(343)	350
Total comprehensive loss	$ (194,294)	$ (56,039)	$ (69,028)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Cash flows from operating activities:

CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK, REDEEMABLE CONVERTIBLE CLASS A-1 COMMON STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Initial Public Offering and Private Placements	Common Stock	Common Stock Initial Public Offering and Private Placements	Additional Paid-In Capital	Additional Paid-In Capital Initial Public Offering and Private Placements	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit	Redeemable Convertible Preferred Stock	Series G Preferred Stock	Series H Preferred Stock	Redeemable Convertible Common Class A-1 Stock
Beginning Balance, shares (in shares) at Apr. 30, 2019									34,192,000			6,667,000
Beginning Balance, Amount at Apr. 30, 2019									$ 299,965			$ 18,800
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of Preferred Stock, net of issuance costs (in shares)										1,283,000	1,654,000
Issuance of Preferred Stock, net of issuance costs										$ 25,406	$ 49,836
Ending Balance, shares (in shares) at Apr. 30, 2020									37,129,000			6,667,000
Ending Balance, Amount at Apr. 30, 2020									$ 375,207			$ 18,800
Beginning Balance, shares (in shares) at Apr. 30, 2019			20,057,000
Beginning Balance, Amount at Apr. 30, 2019	$ (165,434)		$ 20		$ 58,731		$ 74	$ (224,259)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)			9,530,000
Issuance of common stock	44,027		$ 10		44,017
Issuance of Class A common stock upon exercise of stock options (in shares)			1,787,000
Issuance of Class A common stock upon exercise of stock options	2,321		$ 2		2,319
Vesting of early exercised Class A common stock options	655				655
Tender offer repurchases (in shares)			(164,000)
Tender offer repurchases	(3,548)		$ (1)		(3,547)
Stock-based compensation expense	8,310				8,310
Other comprehensive income (loss)	350						350
Net loss	(69,378)							(69,378)
Ending Balance, shares (in shares) at Apr. 30, 2020			31,210,000
Ending Balance, Amount at Apr. 30, 2020	(182,697)		$ 31		110,485		424	(293,637)
Increase (Decrease) in Temporary Equity [Roll Forward]
Repayment of Shareholder Loan									$ 24,546
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares)									(37,129,000)			(6,667,000)
Conversion of redeemable convertible preferred stock to common stock upon initial public offering									$ (399,753)			$ (18,800)
Ending Balance, shares (in shares) at Apr. 30, 2021									0			0
Ending Balance, Amount at Apr. 30, 2021									$ 0			$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repayment of Shareholder Loan	1,457				1,457
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares)			43,796,000
Conversion of redeemable convertible preferred stock to common stock upon initial public offering	$ 418,553		$ 44		418,509
Issuance of common stock (in shares)				21,396,000
Issuance of common stock		$ 844,575		$ 21		$ 844,554
Issuance of Class A common stock upon exercise of stock options (in shares)	5,799,000		5,765,000
Issuance of Class A common stock upon exercise of stock options	$ 10,717		$ 6		10,711
Vesting of early exercised Class A common stock options	2,869				2,869
Stock-based compensation expense	21,740				21,740
Other comprehensive income (loss)	(343)						(343)
Net loss	(55,696)							(55,696)
Ending Balance, shares (in shares) at Apr. 30, 2021			102,167,000
Ending Balance, Amount at Apr. 30, 2021	$ 1,061,175		$ 102		1,410,325		81	(349,333)
Ending Balance, shares (in shares) at Apr. 30, 2022									0			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)	4,651,000		4,515,000
Issuance of Class A common stock upon exercise of stock options	$ 21,410		$ 5		21,405
Vesting of early exercised Class A common stock options	2,745				2,745
Vesting of restricted stock units (in shares)			264,000
Repurchase and retirement of Class A common stock (in shares)			(721,000)
Repurchase and retirement of Class A common stock	(15,000)		$ (1)		(14,999)
Stock-based compensation expense	113,441				113,441
Other comprehensive income (loss)	(2,229)						(2,229)
Net loss	(192,065)							(192,065)
Ending Balance, shares (in shares) at Apr. 30, 2022			106,225,000
Ending Balance, Amount at Apr. 30, 2022	$ 989,477		$ 106		$ 1,532,917		$ (2,148)	$ (541,398)

CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK, REDEEMABLE CONVERTIBLE CLASS A-1 COMMON STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (PARENTHETICAL) $ in Thousands	12 Months Ended
	Apr. 30, 2020 USD ($)
Series G Preferred Stock
Issuance of Preferred Stock, issuance costs	$ 34
Series H Preferred Stock
Issuance of Preferred Stock, issuance costs	$ 164

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

12 Months Ended

Apr. 30, 2022

Apr. 30, 2021

Apr. 30, 2020

Net loss

$ (192,065)

$ (55,696)

$ (69,378)

Adjustments to reconcile net loss to net cash used in operating activities

Depreciation and amortization

5,190

4,297

1,302

Non-cash operating lease cost

4,185

3,315

3,052

Stock-based compensation expense

113,441

21,740

8,310

Impairment on investment

1,025

Other

1,601

(180)

(657)

Changes in operating assets and liabilities

Accounts receivable

^[1]

(14,156)

(34,690)

32,659

Prepaid expenses, other current assets and other assets

^[2]

(14,578)

(14,855)

(4,265)

Accounts payable

^[3]

34,481

7,450

(1,219)

Accrued compensation and employee benefits

10,394

8,135

651

Operating lease liabilities

(3,266)

(3,551)

(3,174)

Other liabilities

^[4]

(5,604)

11,549

1,343

Deferred revenue

^[5]

(26,085)

14,933

(30,930)

Net cash used in operating activities

(86,462)

(37,553)

(61,281)

Cash flows from investing activities:

Purchases of property and equipment

(3,791)

(1,628)

(2,298)

Capitalized software development costs

(500)

(581)

Proceeds from sale of non-marketable equity security

725

Purchases of investments

(796,487)

(1,152,142)

(219,853)

Maturities and sales of investments

1,117,793

385,893

98,659

Net cash provided by (used in) investing activities

317,015

(767,152)

(124,073)

Cash flows from financing activities:

Proceeds from initial public offering and private placements, net of underwriting discounts

851,859

Proceeds from repayment of shareholder loan

26,003

Repurchase of common stock and options in tender offer

(3,548)

Repurchase and retirement of Class A Common stock

(15,000)

Payment of deferred offering costs

(105)

(7,179)

Proceeds from issuance of common stock

44,027

Proceeds from exercise of Class A common stock options

20,816

16,673

4,203

Net cash provided by financing activities

5,711

887,356

119,851

Net increase (decrease) in cash, cash equivalents and restricted cash

236,264

82,651

(65,503)

Cash, cash equivalents and restricted cash at beginning of period

116,255

33,604

99,107

Cash and cash equivalents

339,528

115,355

33,104

Restricted cash included in other assets, non-current

12,566

900

500

Restricted cash included in prepaid expenses and other current assets

425

Cash, cash equivalents and restricted cash at end of period

352,519

116,255

33,604

Total cash, cash equivalents and restricted cash

352,519

116,255

33,604

Supplemental disclosure of cash flow information—cash paid for income taxes

939

550

660

Supplemental disclosures of non-cash investing and financing activities:

Purchases of property and equipment included in accounts payable and accrued liabilities

9,261

212

417

Right-of-use assets obtained in exchange for lease obligations

26,529

Right-of-use assets obtained in exchange for lease obligations arising from lease modifications

1,572

Unpaid liabilities related to intangible purchases

2,500

Receivable from exercise of stock options included in prepaid expenses, other current assets and other assets

Deferred offering costs included in accounts payable and accrued liabilities

105

Vesting of early exercised stock options

2,746

2,869

655

Series G Preferred Stock

Cash flows from financing activities:

Proceeds from issuance of stock, net of issuance costs

25,333

Series H Preferred Stock

Cash flows from financing activities:

Proceeds from issuance of stock, net of issuance costs

$ 0

$ 49,836

[1]	Including changes in related party balances of $20,668, $(14,930), and $19,750 for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.
[2]	Including changes in related party balances of $12,739, $8,264 and nil for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.
[3]	Including changes in related party balances of $18,493, $56 and nil for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.
[4]	Including changes in related party balances of $(3,350), $8,308 and nil for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.
[5]	Including changes in related party balances of $(7,565), $6,198, and $(18,445) for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($)
$ in Thousands

12 Months Ended

Apr. 30, 2022

Apr. 30, 2021

Apr. 30, 2020

^[1]

$ 14,578

$ 14,855

$ 4,265

^[2]

(5,604)

11,549

1,343

Investor

20,668

(14,930)

19,750

12,739

8,264

18,493

(3,350)

8,308

$ (7,565)

$ 6,198

$ (18,445)

[1]	Including changes in related party balances of $12,739, $8,264 and nil for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.
[2]	Including changes in related party balances of $(3,350), $8,308 and nil for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.

Summary of Business and Significant Accounting Policies	12 Months Ended
Summary of Business and Significant Accounting Policies	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Business and Significant Accounting Policies	Summary of Business and Significant Accounting Policies Business C3.ai, Inc. (including its subsidiaries, “C3 AI” or “the Company”) is an enterprise artificial intelligence (“AI”) software provider. The Company’s C3 AI Application Platform supports accelerating digital transformation in various industries with prebuilt and configurable C3 AI Applications for business use cases including predictive maintenance, fraud detection, sensor network health, supply network optimization, energy management, anti-money laundering, and customer engagement. The Company supports customers in the United States, Europe, and the rest of the world. The Company was initially formed as a limited liability company in Delaware on January 8, 2009 and converted to a Delaware corporation in June 2012. Reclassification and Reverse Stock Split In November 2020, the Company amended and restated its certificate of incorporation to effect a reclassification of the Company’s prior Class B common stock and Class C common stock into Class A common stock and redeemable convertible Class B-1 common stock into a new redeemable convertible Class A-1 common stock. The rights, including the liquidation, dividend, and voting rights, are substantially identical for each class of common stock reclassified. All references to prior Class B common stock and Class C common stock have been recast to Class A common stock, and all references to redeemable convertible Class B-1 common stock have been recast to redeemable convertible Class A-1 common stock in these consolidated financial statements to give retrospective effect to the reclassification for all periods presented. The Company also authorized a new Class B common stock. The rights, including the liquidation and dividend rights, of the Class A common stock and the new Class B common stock are substantially identical, other than the voting rights and conversion rights upon transfer of the Class B common stock. See Note 9. Stockholders’ Equity for more information. Additionally, the Company effected a 6-for-1 reverse stock split of the Company’s outstanding common stock, preferred stock, and stock option awards. The par value of the common stock and preferred stock was not adjusted as a result of the reverse stock split. The authorized shares of the Class A common stock, new Class A-1 common stock, new Class B common stock and preferred stock were also adjusted to 390,000,000 shares, 6,666,667 shares, 21,000,000 shares, and 233,107,379 shares, respectively. All authorized, issued, and outstanding shares of common stock, preferred stock, stock option awards, and per share data included in these consolidated financial statements have been recast to give retrospective effect to the adjusted authorized shares and reverse stock split for all periods presented. Initial Public Offering and Concurrent Private Placements In December 2020, the Company completed its initial public offering (“IPO”), in which the Company issued and sold 17,825,000 shares of its Class A common stock at $42.00 per share, which included 2,325,000 shares issued upon the exercise of the underwriters’ over-allotment option to purchase additional shares. The Company received net proceeds of $694.6 million after deducting underwriting discounts and other offering expenses. In connection with the IPO: •all 33,628,776 shares of the Company’s outstanding redeemable convertible preferred stock, except the Series A* preferred stock, automatically converted into an equivalent number of shares of Class A common stock on a one-to-one basis; •all 3,499,992 shares of the Company’s outstanding redeemable convertible Series A* preferred stock automatically converted into an equivalent number of shares of Class B common stock on a one-to-one basis; •all 6,666,665 shares of the Company’s outstanding redeemable convertible Class A-1 common stock automatically converted into an equivalent number of shares of Class A common stock on a one-to-one basis; and •the Company amended and restated its certificate of incorporation which became effective upon completion of the IPO. Deferred offering costs consist primarily of direct and incremental accounting, legal and other fees related to the Company’s IPO. Prior to the IPO, all deferred offering costs incurred were capitalized and included in other assets on the consolidated balance sheet. Upon completion of the IPO, $7.2 million of deferred offering costs were reclassified into stockholders’ equity as a reduction of the IPO proceeds. The Company also completed a concurrent private placement immediately subsequent to the closing of the IPO, in which the Company issued and sold 2,380,952 and 1,190,476 shares, respectively, of its Class A common stock at $42.00 per share to Spring Creek Capital LLC, an affiliate of Koch Industries, Inc., and Microsoft Corporation, respectively (the “Concurrent Private Placement”). The Company received aggregate proceeds of $150.0 million and did not pay underwriting discounts with respect to the shares of Class A common stock that were sold in the Concurrent Private Placement. Basis of Presentation and Principles of Consolidation The Company prepares its consolidated financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). The consolidated financial statements include the accounts of C3.ai, Inc. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates include determining standalone selling price for performance obligations in contracts with customers and estimating variable consideration, the estimated expected benefit period for deferred contract acquisition costs, the useful lives of long-lived assets and other assumptions used to measure stock-based compensation, and the valuation of deferred income tax assets and uncertain tax positions. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions. Fiscal Year The Company’s fiscal year ends on April 30. References to fiscal 2022, 2021 and 2020 relate to the fiscal years ended April 30, 2022, 2021 and 2020, respectively. Concentration of Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash and cash equivalents, investments and accounts receivable. The majority of the Company’s cash and cash equivalents are held by one financial institution. The Company is exposed to that financial institution to the extent that its cash balance with that financial institution is in excess of Federal Deposit Insurance Company (“FDIC”) insurance limits. The Company’s investment policy is to invest in securities with a minimum rating of P-2 by Moody’s, A-2 by Standard & Poor’s, F2 by Fitch’s or higher for short-term investments, and minimum rating of BBB by Moody’s, Standard & Poor’s, Fitch’s or higher for long-term investments. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less at the time of purchase to be cash equivalents. The Company’s cash equivalents consisted of investments in money market funds as of April 30, 2022 and 2021. Restricted Cash The Company had restricted cash pledged as security deposits at April 30, 2022 and 2021 of $12.6 million and $0.9 million, respectively, primarily representing a security deposit required by certain leases. The balance of restricted cash as of April 30, 2022 and 2021 was recorded as long-term other assets on the consolidated balance sheets. Investments The Company determines the appropriate classification of investments at the time of purchase and reevaluates such determination at each period-end. The Company’s investments, comprised of money market funds, U.S. treasury securities, certificates of deposit, U.S. government agency securities, commercial paper and corporate debt securities, are classified as available-for-sale marketable securities. Such securities are carried at estimated fair values and reported in cash equivalents, short-term investments or long-term investments. Unrealized gains and losses, net of tax, are reported in other comprehensive (loss) income as a separate component on the consolidated statements of comprehensive loss. Fair value is determined based on quoted market rates when observable or by utilizing data points that are observable, such as quoted prices, interest rates and yield curves. Declines in fair value judged to be other-than-temporary on available-for-sale marketable securities are recorded within other income (expense), net on the consolidated statements of operations. In order to determine whether a decline in value is other-than-temporary, the Company evaluates, among other factors, the duration and extent to which the fair value has been less than the carrying value and its intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value. The cost of securities sold is based on the specific-identification method. Interest on securities classified as available-for-sale marketable securities is included in interest income on the consolidated statements of operations. Non-marketable equity securities without readily determinable fair values are recorded at cost, less impairment, and adjusted to fair value within other expense, net if there are observable price changes for identical or similar securities. Non-marketable equity securities are recorded within long-term investments. Impairment loss is recorded in other expense, net on the consolidated statements of operations. Accounts Receivable Accounts receivable includes billed and unbilled receivables, net of allowance of doubtful accounts. Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The expectation of collectability is based on a review of credit profiles of customers, contractual terms and conditions, current economic trends, and historical payment experience. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering the age of each outstanding invoice and the collection history of each customer to determine the appropriate amount of allowance for doubtful accounts. An allowance for doubtful accounts balance of $0.2 million and $0.8 million was recorded as of April 30, 2022 and 2021, respectively. Accounts receivable included unbilled receivables of as of April 30, 2022 and April 30, 2021 of $19.9 million and $3.8 million respectively. Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Assets and liabilities that are measured at fair value are reported using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: Level 1—Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2—Inputs other than quoted prices in active markets that are observable for the asset or liability, either directly or indirectly. Level 3—Inputs that are unobservable for the asset or liability. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The carrying amounts of the Company’s financial instruments, including cash, cash equivalents, restricted cash, accounts receivable, accounts payable, and accrued expenses, approximate their fair value due to their short maturities. The fair value of the company’s investments is discussed in Note 3. Fair Value Measurements. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets are comprised primarily of prepaid cloud subscriptions, other receivables, costs to obtain and fulfill a contract, loans to non-executive employees, prepaid software subscriptions, prepaid rent, and prepaid health insurance premiums. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Assets are depreciated using the straight-line method over useful lives of three to five years. Leasehold improvements and certain furniture and fixtures are amortized using the straight-line method over the lesser of the remaining respective lease term or useful lives. Impairment of Long-Lived Assets The Company evaluates long-lived assets or asset groups for impairment whenever events indicate that the carrying value of an asset or asset group may not be recoverable based on expected future cash flows attributable to that asset or asset group. Recoverability of assets held and used is measured by comparing the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset or asset group exceeds estimated undiscounted future cash flows, then an impairment charge would be recognized based on the excess of the carrying amount of the asset or asset group over its fair value. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell. There were no impairment charges recognized related to long-lived assets during the fiscal years ended April 30, 2022 and 2021. Goodwill Goodwill is the amount by which the cost of acquired net assets in a business combination exceeds the fair value of the net identifiable assets on the date of purchase and is carried at its historical cost. The Company tests goodwill for impairment on an annual basis or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company performs its annual impairment test of goodwill as of February 1, and whenever events or circumstances indicate that the asset might be impaired. The tests did not result in an impairment to goodwill during the fiscal years ended April 30, 2022 and 2021. Leases The Company has lease arrangements that include lease and non-lease components. The Company has elected to not account for the lease and non-lease components separately. For leases that commenced before the Company’s adoption date of Accounting Standards Codification (“ASC”) Topic 842, Leases, the Company elected the practical expedient to not reassess the following: (1) whether any expired or existing contracts contain leases; (2) the lease classification for any expired or existing leases; and (3) initial direct costs for any existing leases. For short-term leases, defined as leases with a lease term of 12 months or less, the Company elected to not recognize an associated lease liability and right-of-use (“ROU”), asset. Lease payments for short-term leases are expensed on a straight-line basis over the lease term. The Company does not have financing leases. Operating lease ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of remaining lease payments over the lease term. The Company uses the rate implicit in the lease when readily determinable at lease inception. If the implicit rate is not readily determinable, the Company uses its incremental borrowing rate based on the information available at the adoption date for leases that commenced prior to the adoption date and the commencement date for leases that commenced after the adoption date. The incremental borrowing rate assumptions include the lease term and the Company’s credit risk. The operating lease ROU asset also includes any advance lease payments made and excludes lease incentives. The Company’s lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis as operating expense in the consolidated statements of operations over the lease term. Refer to Note 6. Leases for more information. Deferred Revenue Deferred revenue consists of billings or cash received for services in advance of revenue recognition and is recognized as revenue when all of the Company’s revenue recognition criteria are met. The portion of deferred revenue that is anticipated to be recognized as revenue during the succeeding twelve-month period is recorded as deferred revenue, current and the remaining portion is recorded as deferred revenue, non-current. The Company’s contract liabilities are classified as deferred revenue upon the right to invoice or when payments have been received for undelivered products or services. Revenue Recognition The Company accounts for revenue in accordance with ASC Topic 606, Revenue From Contracts With Customers (“ASC 606”) for all periods presented. The core principle of ASC 606 is to recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. This principle is achieved by applying the following five-step approach: Identification of the Contract, or Contracts, with a Customer. A contract with a customer exists when (1) the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the goods or services to be transferred and identifies the payment terms related to these goods or services, (2) the contract has commercial substance and (3) the Company determines that collection of substantially all consideration for goods or services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. The Company applies judgment in determining the customer’s ability and intention to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, published credit and financial information pertaining to the customer. Identification of the Performance Obligations in the Contract. Performance obligations promised in a contract are identified based on the goods or services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the goods or services either on their own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the goods or services is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised goods or services, the Company applies judgment to determine whether promised goods or services are capable of being distinct and distinct in the context of the contract. If these criteria are not met, the promised goods or services are accounted for as a combined performance obligation. Determination of the Transaction Price. The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring goods or services to the customer, net of sales taxes or value-added taxes. If the transaction price includes variable consideration, the Company includes an estimate of the amount it expects to receive if it is probable that a significant reversal of cumulative revenue recognized will not occur. Usage-based fees earned in exchange for the use of the Company’s software licenses and subscription services are subject to the usage-based royalty and series guidance variable consideration estimation exceptions, respectively. Allocation of the Transaction Price to the Performance Obligations in the Contract. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price (“SSP”). When appropriate, the Company determines SSP based on the price at which the performance obligation has previously been sold through past transactions, taking into account internally approved pricing guidelines related to the performance obligations. When the SSP of a license or subscription and bundled maintenance and support services is highly variable and the contract also includes additional performance obligations with observable SSP, the Company first allocates the transaction price to the performance obligations with established SSPs and then applies the residual approach to allocate the remaining transaction price to the license or subscription and bundled maintenance and support services. If applying the residual approach results in zero or very little consideration being allocated to the combined performance obligation, or to a bundle of goods or services, the Company will consider all reasonably available data to determine an appropriate allocation of the transaction price. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Recognition of Revenue when, or as, Performance Obligations are Satisfied. The Company satisfies substantially all of its performance obligations over time, as discussed in further detail below. Revenue is recognized at the time the related performance obligation is satisfied with the transfer of a promised good or service to a customer over time. Subscription Revenue Subscription revenue is primarily comprised of term licenses, stand-ready COE support services, trials of our applications, and software-as-a-service (“SaaS”) offerings. Licenses represent a contractual right for a customer to take possession of the software and it is feasible for the customer to host the software independently. SaaS represents a right for a customer to access the software through the Company’s cloud environment and the customer does not have the right to take possession of the software. Subscriptions also include our maintenance and support services that comprised of critical and continuous updates to the software that are integral to maintaining the intended utility of the software over the contractual term. For the significant majority of the Company’s offerings, software and maintenance and support services are highly interdependent and interrelated and represent a single distinct performance obligation within the context of the contract satisfied over time. Determining whether the software license and maintenance and support services are considered distinct performance obligations that should be accounted for separately or as one combined performance obligation may require significant judgment. In reaching its conclusion, the Company considered the nature of its promise to provide the customer real time analytics and machine learning algorithms that require regular re-training to maintain and improve prediction accuracy. The Company fulfills this promise by providing real time data feeds to the machine learning model and by providing regular tuning, optimization and critical updates to the constantly changing type system. Accordingly, the Company has determined that the software license and maintenance and support services fulfill a single promise to the customer under the contract. The Company’s subscriptions are generally offered under renewable, multi-year, fixed fee contracts where payments are typically due annually in advance. A time-elapsed output method is used to measure progress because the nature of the promise is a stand-ready service. The Company also offers premium stand-ready C3 AI Center of Excellence (“COE”) support services, hosting services and trial services, which are distinct performance obligations. A description of the Company’s offerings are as follows: •C3 AI Application Platform is a comprehensive suite that allows for the design, deployment, and operation of AI, predictive analytics, and applications at enterprise scale. The C3 AI Application Platform provides data scientists and application developers robust advantages for rapid application and analytics development and deployment. Customers primarily pay for the C3 AI Application Platform via fixed annual fees based on the number of development users allowed to access the C3 AI Application Platform. The C3 AI Application Platform offering is primarily a term subscription but at times has been sold as a perpetual license and generates additional runtime subscription fees, a type of consumption or usage-based revenue based on compute and storage resources required to run the C3 AI Application Platform. •C3 AI Applications are production applications that address a wide range of predictive analytics use cases. C3 AI Applications are industry-tested and proven enterprise-grade applications built on a cohesive suite architecture that is designed to integrate and process highly dynamic data sets from sensor networks and enterprise and extraprise information systems, and enable advanced machine learning capabilities. C3 AI Applications sold without the C3 AI Application Platform can be in the form of term or perpetual licenses or subscriptions and earn revenue through a fixed fee and/or usage-based royalties. •C3 Maintenance and Support Services are provided for the C3 AI Application Platform and the C3 AI Applications that are selected by the customer. This support includes standard monitoring, performance monitoring, database maintenance, security monitoring, upgrading, backup and restore, patching, etc. provided by the Company. The Company continuously provides updates that are critical to the continued utility of the software. •COE Support Services. COE Support Services provide premium development services and support by an available pool of resources. The purpose of the COE is to allow the customer to utilize, extend or modify C3 applications and to develop its own applications on the C3 AI Application Platform. To facilitate customer’s efforts, C3 provides the following COE Support Services on the C3 AI Application Platform and C3 applications to customer personnel during the subscription term of COE: (1) support and guidance on C3 AI overall software application architecture; (2) data integration, data science, and application development support on the C3 AI Application Platform; (3) training on the C3 AI Application Platform and C3 AI Applications to the customer project team members; and (4) support to help address any developmental issues faced by the customer. COE Support Services are generally offered under renewable, multi-year, fixed fee contracts whereby payments are primarily due annually in advance and in most cases are co-terminous with the C3 AI Application Platform subscription term. COE Support Services represent a stand-ready performance obligation comprised of a series of distinct days of service that is satisfied and recognized in revenue ratably over the term of the COE agreement. Revenue for COE Support Services is included within subscription revenue in the consolidated statements of operations. •Trials. Trial projects typically consist of several phases including project kickoff, design, data integration, configuration, validation and final demonstration. These trials are typically fixed-price eight to 16-week production pilots during which the Company works with customers to define a specific business problem or use case and address the use case using AI-based predictive analytics. During the trial, the Company integrates data, configures machine learning algorithms supporting the use case, and configures a user interface to present the resulting insights. At the end of a trial, the Company demonstrates a working application that shows the utility, benefit, and economic value to be gained from a production deployment of big data, analytics, and machine learning applications. These paid trials are solely meant to demonstrate the feasibility of the Company’s offering to the customer and provide them with a level of confidence to encourage them to enter into a large, multi-year arrangement with the Company. Trial revenue is recognized over time during the production pilot period. •Hosting Services. For certain customers, the Company provides access to the C3 AI Application Platform and/or C3 AI Applications in the Company’s cloud environment. The customer consumes and receives benefit throughout the hosting period from the entity’s performance of hosting and providing access to the hosted software, which the customer would otherwise have to undertake itself or obtain another party to do. The Company recognizes hosting services over time based on the consumption patterns of the customers. Customers who choose to install the C3 AI Application Platform and/or C3 AI Applications in their own cloud environments do not subscribe to the Company’s hosting services. Hosting services are generally offered as part of the subscription for C3 AI Application Platform and/or C3 Application arrangements and the amount of revenue recognized on a monthly basis varies based on actual consumption by the customer. •Ex Machina is a no-code solution that provides secure, easy access to analysis-ready data, and enables business analysts without data science training to rapidly perform data science tasks such as building, configuring, training, and visualizing AI models. It offers a graphical interface that allows users to connect rapidly to enterprise data stores, and export results to other enterprise applications. C3 AI Ex Machina is offered via a monthly subscription or longer-term subscriptions and can be hosted by the Company or hosted by a customer. Revenue from C3 AI Ex Machina is generated through fixed fee and/or usage-based royalties. Professional Services The Company’s professional services primarily include implementation services, training and prioritized engineering services. The Company offers a complete range of professional service support both onsite and remotely, including training, application design, project management, system design, data modeling, data integration, application design, development support, data science, and application and AI Suite administration support. Professional services fees are based on the level of effort required to perform such tasks and are typically a fixed-fee engagement with a duration of less than 12 months. Contract balances The Company typically invoices customers for subscription fees in annual increments upon execution of the initial contract or subsequent renewal, payable within 30 to 60 days, and providing customers access to the C3 AI Application Platform and/or C3 AI Applications. Monthly usage-based runtime and hosting charges are billed as they are delivered. Certain government contracts are cancellable during the subscription term depending on the future fiscal funding available to the contract. The Company has not experienced any cancellation due to the funding constraint related to such contracts. The timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts. A receivable is recognized in the period the Company delivers goods or provides services, or when the Company’s right to consideration is unconditional, whichever is earlier. In situations where revenue recognition occurs before invoicing, an unbilled receivable is recorded. While the timing of revenue recognition usually differs from the timing of payment, the Company has determined the contracts generally do not include a significant financing component, because the period between when the Company transfers its software and services to a customer and when the customer pays for the software and service is one year or less. The primary purpose of the invoicing terms is to provide customers with simplified and predictable ways of purchasing the Company’s software and services, not to receive financing from the customers or to provide customers with financing. Costs to Obtain and Fulfill a Contract The Company’s customer acquisition costs are primarily related to sales commissions if such costs are incremental costs to obtain a contract without a service condition. Sales commissions are deferred and then amortized taking into consideration the pattern of transfer to which assets relate. If the commissions paid on the initial and renewal contracts are not commensurate, the Company amortizes the commissions paid on the initial contract over an expected period of benefit, including expected renewals, which is determined to be approximately five years. In arriving at the average period of benefit the Company considered the duration of the Company’s relationships with customers and the Company’s technology. Sales commissions for renewal contracts are generally deferred and amortized over the contract period. Sales commissions are expensed as incurred when the expected amortization period is one year or less. Costs to obtain and fulfill a contract that will be amortized within the succeeding 12-month period are classified as current and included in prepaid expenses and other current assets on the consolidated balance sheets. The remaining balance is classified as non-current and are included in other assets on the consolidated balance sheets. Cost of Revenue Cost of subscription revenue consists primarily of costs related to compensation, including salaries, bonuses, benefits, stock-based compensation and other related expenses for the production environment, support and COE staff, hosting of the Company’s AI Suite, including payments to outside cloud service providers, and allocated overhead and depreciation for facilities. Cost of professional services revenue consists primarily of compensation, including salaries, bonuses, benefits, stock-based compensation and other related costs associated with the Company’s professional service personnel, and allocated overhead and depreciation for facilities. Warranties The Company’s offerings are warranted to perform in a manner consistent with industry standards. The Company’s arrangements generally include provisions for indemnifying customers against liabilities if its services infringe on a third party’s intellectual property rights. They also generally include service-level agreements warranting defined levels of uptime reliability and performance. To date, the Company has not incurred material costs as a result of its warranties and indemnifications. There are no accrued liabilities related to these obligations on the consolidated financial statements. Stock-Based Compensation Stock-based compensation expense related to stock option awards and restricted stock units (“RSUs”) is recognized based on the fair value of the awards granted. The fair value of each option award is estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of highly subjective assumptions, including the fair value of the underlying common stock, the expected term of the option, the expected volatility of the price of the Company’s common stock, risk-free interest rates, and the expected dividend yield of the Company’s common stock. The assumptions used to determine the fair value of the option awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment. The fair value of each RSU is based on the fair value of the Company’s common stock on the date of grant. The related stock-based compensation expense is recognized on a straight-line basis over the requisite service period of the awards. The Company accounts for forfeitures as they occur. Software Development Costs The Company capitalizes certain software development costs subsequent to the establishment of technological feasibility. Based on the Company’s product development process and substantial development risks, the Company’s products are made available for general release as soon as technological feasibility is reached. The Company expenses the cost of purchased software that is to be sold, leased, or otherwise marketed as part of a product until the technological feasibility of the product has been established or where the software has an alternative future use. Once the technological feasibility of the product, to be externally marketed, has been established or where the software has an alternative future use, the Company capitalizes the cost of purchased software until the associated product is available for general release to customers, at which point the capitalized cost is amortized on a product-by-product basis the greater of the ratio of current gross revenues to the total of current and anticipated future gross revenues or over the remaining estimated economic life of the product. The Company capitalized $3.0 million of software costs during the fiscal year ended April 30, 2022 and included in other assets, non-current in the consolidated balance sheets. The Company amortized $0.7 million of capitalized software costs during the fiscal year ended April 30, 2022 and included in cost of subscription revenue in the consolidated statements of operations. The Company did not capitalize any software costs during the fiscal years ended April 30, 2021 and 2020, respectively. Advertising Expenses Advertising expenses of $51.9 million, $35.3 million and $29.2 million incurred during the fiscal years ended April 30, 2022, 2021 and 2020, respectively, were expensed as incurred as a component of sales and marketing expenses on the consolidated statements of operations. 401(k) Plan The Company has a 401(k) tax deferred savings plan under which eligible employees may elect to have a portion of their salary deferred and contributed to the plan. Employer matching contributions are determined by the Company and are discretionary. During the fiscal years ended April 30, 2022, 2021 and 2020, the Company did not match any employee contributions. Foreign Currency The functional currency of the Company’s foreign subsidiaries is the U.S. dollar. Accordingly, monetary assets and liabilities of the Company’s foreign subsidiaries are remeasured into U.S. dollars at the exchange rates in effect at the reporting date, non-monetary assets and liabilities are re-measured at historical rates, and revenue and expenses are re-measured at average exchange rates in effect during each reporting period. Foreign currency transaction gains and losses are recognized in other income (expense), net within the consolidated statements of operations. Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are recognized to the extent that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it is able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company records an adjustment to the deferred tax asset valuation allowance, which reduces the provision for income taxes. Tax benefits from uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Company’s consolidated financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized. Interest and penalties are recognized associated with tax matters as part of the income tax provision and include accrued interest and penalties with the related income tax liability on the Company’s consolidated balance sheets. Net Loss Per Share Attributable to Common Stockholders Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. The Company considers all series of its redeemable convertible preferred stock to be participating securities. Under the two-class method, the net loss attributable to common stockholders is not allocated to the redeemable convertible preferred stock as the holders of its redeemable convertible preferred stock do not have a contractual obligation to share in the Company’s losses. Net income is attributed to common stockholders and participating securities based on their participation rights. Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share attributable to common stockholders adjusts basic earnings per share for the potentially dilutive impact of stock options, RSUs and redeemable convertible preferred stock. As the Company has reported losses for all periods presented, all potentially dilutive securities are antidilutive and accordingly, basic net loss per share equals diluted net loss per share. Other Comprehensive (Loss) Income Other comprehensive (loss) income during the fiscal years ended April 30, 2022, 2021 and 2020, related to unrealized gains or losses from available-for-sale marketable securities. Segment Information Operating segments are defined as components of an entity where discrete financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assessing performance. The Company has identified its Chief Executive Officer (“CEO”) as the chief operating decision maker (“CODM”). The Company operates in one operating segment. The Company’s CODM allocates resources and assesses performance at the consolidated level. See Note 2. Revenue for revenue by geographic region. The Company’s property and equipment, net, are primarily located in the United States. No single other country accounted for more than 10% of total property and equipment, net as of April 30, 2022 and 2021. Contribution Accounting The Company entered into an agreement establishing the C3.ai Digital Transformation Institute (“C3.ai DTI”), a program established to attract the world’s leading scientists to join in a coordinated and innovative effort to advance the digital transformation of business, government, and society. As part of the agreement, the Company issued cash grants to C3.ai DTI which are conditional in nature and subject to execution of the program in line with specific requirements on a quarterly basis. The cash grants do not represent an exchange transaction since there is not a commensurate transfer of resources at fair value, resulting in the application of the contribution accounting model. Contributions are allocated between sales and marketing and research and development based on the estimated benefits received by the Company. The Company’s initial contribution to C3.ai DTI provided equal benefits across sales and marketing and research and development. From fiscal year 2021, the Company expected contributions to C3.ai DTI to primarily benefit its research and development efforts. The Company recognized nil, nil and $5.7 million of expense related to the contribution in sales and marketing for the years ended April 30, 2022, 2021 and 2020, respectively. Additionally, the Company recognized $11.5 million, $2.7 million and $5.7 million of expense related to the contribution in research and development for the years ended April 30, 2022, 2021 and 2020, respectively. Recently Adopted Accounting Pronouncements In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract, which requires a customer in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to defer and recognize as an asset. The guidance is effective for the fiscal year beginning May 1, 2021. Early adoption is permitted. The Company adopted this guidance effective May 1, 2021 on a prospective basis, and the adoption did not have a material impact on its consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740)—Simplifying the Accounting for Income Taxes. The amendments in this update simplify various aspects of the accounting for income tax by eliminating certain exceptions to the general approach under existing accounting guidance provided by ASC 740, Income Taxes, and clarifies certain aspects of the existing guidance to promote more consistent application. The amendments in this new standard include, the elimination of exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new standard also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill and that single-member limited liability companies and similar disregarded entities that are not subject to income tax are not required to recognize an allocation of consolidated income tax expense in their separate financial statements, but could elect to do so. The guidance is effective for the Company beginning May 1, 2022. Early adoption is permitted. The Company adopted this guidance effective May 1, 2021, and the adoption did not have a material impact on its consolidated financial statements and related disclosures.

Revenue

12 Months Ended

Apr. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

The following table presents revenue by geographical region (in thousands):


	Fiscal Year Ended April 30,
	2022		2021		2020
North America(1)	$	197,485	$	119,795	$	121,485
Europe, the Middle East and Africa(1)	46,251		56,030		33,086
Asia Pacific(1)	9,023		5,992		2,095
Rest of World(1)	—		1,400		—
Total revenue	$	252,759	$	183,217	$	156,666

__________________

(1)The United States comprised 78%, 65% and 78% of the Company’s revenue in the fiscal years ended April 30, 2022, 2021 and 2020, respectively. No country comprised 10% of greater of the Company’s revenue for the fiscal year ended April 30, 2022. France comprised 12% and 10.5% of the Company’s revenue in the fiscal years ended April 30, 2021 and 2020, respectively. The Netherlands comprised 12% of the Company’s revenue in the fiscal year ended April 30, 2021. No other country comprised 10% or greater of the Company’s revenue for each of the fiscal years ended April 30, 2022, 2021 and 2020.

Deferred Revenue

The following table reflects the deferred revenue balance (in thousands):


	As of April, 30
	2022		2021
Deferred revenue, current	$	48,854	$	72,263
Deferred revenue, non-current	288		2,964
Total deferred revenue	$	49,142	$	75,227

Significant changes in the deferred revenue balances during the fiscal years ended April 30, 2022 and 2021 were as follows (in thousands):


	Deferred Revenue
April 30, 2020	$	60,295
Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year	(57,542)
Increases due to invoicing prior to satisfaction of performance obligations	72,474
April 30, 2021	75,227
Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year	(71,566)
Increases due to invoicing prior to satisfaction of performance obligations	45,481
April 30, 2022	$	49,142

Remaining Performance Obligation

Remaining performance obligations are committed and represent non-cancellable contracted revenue that has not yet been recognized and will be recognized as revenue in future periods. Some contracts allow customers to cancel the contracts without a significant penalty, and the cancellable amount of contract value is not included in the remaining performance obligations.

The Company excludes amounts related to performance obligations and usage-based royalties that are billed and recognized as they are delivered. This primarily consists of monthly usage-based runtime and hosting charges arising in some revenue contracts.

Revenue expected to be recognized from remaining performance obligations was approximately $477.4 million as of April 30, 2022 of which $169.7 million is expected to be recognized over the next 12 months and the remainder thereafter.

Costs to Obtain or Fulfill a Contract

As of April 30, 2022 and 2021, the amount of costs to obtain and fulfill a contract included in prepaid expenses and other current assets was $5.7 million and $3.2 million, respectively. The amount of costs to obtain and fulfill a contract included in other assets, non-current as of April 30, 2022 and 2021 was $18.2 million and $9.1 million, respectively. Expenses recognized for costs to obtain and fulfill a contract for the years ended April 30, 2022, 2021 and 2020 was $5.1 million, $1.2 million and $1.0 million, respectively, and is included in sales and marketing expenses on the consolidated statements of operations. The Company recognized an immaterial impairment cost related to costs to obtain or fulfill a contract for the fiscal year ended April 30, 2022. There were no impairments related to costs to obtain or fulfill a contract for the fiscal years ended April 30, 2021 and 2020, respectively.

Customer Concentration

All of the Company’s Customer-Entities (as defined under “Management's Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of this Annual Report on Form 10-K) consist of corporate and governmental entities. A limited number of Customer-Entities have accounted for a large part of the Company’s revenue and accounts receivable to date. For the purpose of determining customer concentration and accounts receivable, unbilled receivables have been excluded from accounts receivable balance. One separate Customer-Entity accounted for 31% of revenue for the year ended April 30, 2022. Two separate Customer-Entities accounted for 19% and 12%, respectively, of revenue for the year ended April 30, 2021. Two separate Customer-Entities accounted for 26% and 10%, respectively, of revenue for the year ended April 30, 2020. Three separate Customer-Entities accounted for 32%, 13% and 12% of accounts receivable at April 30, 2022. Four separate Customer-Entities accounted for 18%, 14%, 14%, and 11% of accounts receivable at April 30, 2021.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Fair Value Measurements

12 Months Ended

Apr. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value MeasurementsThe Company’s financial instruments consist primarily of cash equivalents, restricted cash, available-for-sale marketable securities, accounts receivable, non-marketable equity securities, and accounts payable. Cash and cash equivalents and available-for-sale marketable securities are reported at their respective fair values on the consolidated balance sheets. Non-marketable equity securities are reported at cost less impairment. The remaining financial instruments are reported on the consolidated balance sheets at amounts that approximate current fair values.

The following table summarizes the types of assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):


	As of April 30, 2022								As of April 30, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	107,726	$	—	$	—	$	107,726	$	43,401	$	—	$	—	$	43,401
Commercial paper	—		142,511		—		142,511		—		—		—		—
Corporate debt securities	—		8,884		—		8,884		—		—		—		—
Certificates of deposit	—		3,000		—		3,000		—		—		—		—
Available-for-sale marketable securities:
U.S. treasury securities	—		12,763		—		12,763		—		57,998		—		57,998
Certificates of deposit	—		97,205		—		97,205		—		422,978		—		422,978
U.S. government agencies securities	—		13,890		—		13,890		—		—		—		—
Commercial paper	—		241,132		—		241,132		—		494,676		—		494,676
Corporate debt securities	—		287,729		—		287,729		—		2,368		—		2,368
Total cash equivalents and available-for-sale marketable securities	$	107,726	$	807,114	$	—	$	914,840	$	43,401	$	978,020	$	—	$	1,021,421

The estimated fair value of securities classified as Level 2 financial instruments was determined based on third-party pricing services. The pricing services utilize industry standard valuation models, including both income- and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. Inputs used for fair value measurement categorized as Level 2 include benchmark yields, reported trades, broker or dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications.

Investments, Debt and Equity Securities [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Investments

12 Months Ended

Apr. 30, 2022

Investments

Cash Equivalents and Available-for-Sale Marketable Securities

The following table summarizes the Company’s cash equivalents and available-for-sale marketable securities (in thousands):


	As of April 30, 2022								As of April 30, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	107,726	$	—	$	—	$	107,726	$	43,401	$	—	$	—	$	43,401
Commercial paper	142,511		—		—		142,511		—		—		—		—
Corporate debt securities	8,889		—		(5)		8,884		—		—		—		—
Certificates of deposit	3,000		—		—		3,000		—		—		—		—
Available-for-sale marketable securities:
U.S. treasury securities	12,764		—		(1)		12,763		57,993		5		—		57,998
Certificates of deposit	97,205		—		—		97,205		422,952		32		(6)		422,978
U.S. government agencies securities	14,113		—		(223)		13,890		—		—		—		—
Commercial paper	241,134		—		(2)		241,132		494,625		64		(13)		494,676
Corporate debt securities	289,646		20		(1,937)		287,729		2,369		—		(1)		2,368
Total cash equivalents and available-for-sale marketable securities	$	916,988	$	20	$	(2,168)	$	914,840	$	1,021,340	$	101	$	(20)	$	1,021,421

The following table summarizes the Company’s available-for-sale marketable securities by contractual maturity (in thousands):


	As of April 30, 2022				As of April 30, 2021
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	622,517	$	620,633	$	977,939	$	978,020
After one year through five years	32,345		32,086		—		—
Total	$	654,862	$	652,719	$	977,939	$	978,020

The following table summarizes the fair values and unrealized losses of the Company’s available-for-sale marketable securities classified by length of time that the securities have been in a continuous unrealized loss position but were not deemed to be other-than-temporarily impaired, as of April 30, 2022 (in thousands):


	As of April 30, 2022
	Less Than 12 Months				12 Months or Greater				Total
	Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value
U.S. treasury securities	$	(1)	$	12,763	$	—	$	—	$	(1)	$	12,763
Certificates of deposit	—		—		—		—		—		—
U.S. government agencies securities	(223)		13,897		—		—		(223)		13,897
Commercial paper	(2)		2,996		—		—		(2)		2,996
Corporate debt securities	(1,678)		248,176		(259)		31,194		(1,937)		279,370
Total	$	(1,904)	$	277,832	$	(259)	$	31,194	$	(2,163)	$	309,026

As of April 30, 2022, the Company had 284 investment positions that were in an unrealized loss position. As of April 30, 2021, the Company had 8 investment positions in an unrealized loss position. No investments were other-than-temporary impaired as of April 30, 2022, 2021 or 2020. The Company considers factors such as the duration, the magnitude and the reason for the decline in value, the potential recovery period, creditworthiness of the issuers of the securities and its intent to sell. For marketable securities, it also considers whether (i) it is more likely than not that the Company will be required to sell the debt securities before recovery of their amortized cost basis, and (ii) the amortized cost basis cannot be recovered as a result of credit losses. No significant facts or circumstances have arisen to indicate that there has been any significant deterioration in the creditworthiness of the issuers of the securities held by the Company. Based on the Company’s review of these securities, including the assessment of the duration and severity of the unrealized losses and the Company’s ability and intent to hold the investments until maturity, there were no other-than-temporary impairments for these marketable securities at April 30, 2022.

Non-Marketable Equity Securities

As of April 30, 2022 and 2021, the Company had no non-marketable equity securities. As of April 30, 2020, non-marketable equity securities carried at cost of $0.7 million were recorded in long-term investments. The Company recognized an impairment on the non-marketable equity securities of $1.0 million, included in other income (expense), net, on the consolidated statements of operations, during the fiscal year ended April 30, 2020. In November 2020, the Company sold its non-marketable equity security for $0.7 million.

Balance Sheet Details

12 Months Ended

Apr. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Details

Property and Equipment, Net

Property and equipment consisted of the following at April 30, 2022 and 2021 (in thousands):


	Useful Life	As of April 30,
	(in months)	2022		2021
Leasehold improvements	*	$	8,878	$	8,658
Computer equipment	36	3,321		2,539
Office furniture and equipment	60	348		339
Capital in progress	NA	11,261		—
Total property and equipment		23,808		11,536
Less accumulated depreciation		(9,291)		(5,403)
Property and equipment, net		$	14,517	$	6,133

__________________

*Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term.

NA = Not Applicable

Depreciation and amortization expense related to property and equipment was $4.4 million, $4.0 million, and $1.2 million for the fiscal years ended April 30, 2022, 2021 and 2020.

Accrued Compensation and Employee Benefits

Accrued compensation and employee benefits consisted of the following at April 30, 2022 and 2021 (in thousands):


	As of April 30,
	2022		2021
Accrued bonus	$	16,078	$	12,216
Accrued vacation	3,814		3,935
Accrued payroll taxes and benefits	3,593		3,405
Accrued commission	1,440		1,863
Accrued salaries	7,298		410
Accrued compensation and employee benefits	$	32,223	$	21,829

Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following at April 30, 2022 and 2021 (in thousands):


	As of April 30,
	2022		2021
Liability for common stock exercised prior to vesting	$	1,970	$	5,331
Commissions payable to a related party	2,510		3,413
Accrued general expenses	4,972		3,588
Operating lease liabilities, current	3,613		3,894
Other	1,809		2,092
Accrued and other current liabilities	$	14,874	$	18,318

Refer to Note 6. Leases for more information regarding the Company’s leases.

Cares Act Loan

On May 1, 2020, the Company entered into Paycheck Protection Program (“PPP”) Promissory Note and Agreement with Bank of America, pursuant to which the Company received loan proceeds of $6.3 million (the “PPP Loan”). The PPP Loan was made under, and was subject to the terms and conditions of, the PPP which was established under the CARES Act and is administered by the U.S. Small Business Administration. The term of the PPP Loan was two years with a maturity date of May 1, 2022 and contains a favorable fixed annual interest rate of 1.00%. Payments of principal and interest on the PPP Loan were deferred for the first six months of the term of the PPP Loan until November 1, 2020. Principal and interest were payable monthly and could be prepaid by the Company at any time prior to maturity with no prepayment penalties. On August 18, 2020, the Company repaid in full the PPP loan outstanding, including accrued interest of $0.1 million, in the amount of $6.4 million.

Leases

12 Months Ended

Apr. 30, 2022

Leases [Abstract]

Leases

The Company leases its facilities for office space under non-cancellable operating leases with various expiration dates through the fiscal year ending April 30, 2033. Certain lease agreements include options to renew or terminate the applicable lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments.

On August 25, 2021, the Company entered into a new lease to acquire approximately 283,015 square feet of office space in several phases in Redwood City, California. Total undiscounted base rent payments over the term of this lease are approximately $103.1 million. In addition to base rent, the Company will be responsible for the Company’s allocated share of costs incurred and expenditures made by the landlord in the operation and management of the leased space. Under the terms of the lease agreement, the Company has a rent abatement with respect to each phase for the initial six months following the rent commencement date for such phase, with initial monthly base rent payments expected to commence April 1, 2023, which will be approximately $0.5 million at commencement and will increase up to a maximum monthly base rent of approximately $1.0 million. The lease agreement also includes an aggregate tenant improvement allowance of $44.2 million for certain costs. The term of the lease is 126 months from the date that rent commences with respect to phase one of the leased space, which will be nine months after the date when phase one of the leased space is delivered to the Company. Pursuant to the lease agreement, the Company provided the landlord an unconditional and irrevocable letter of credit of $12.6 million, which is subject to reduction pursuant to the terms of the lease agreement. The lease commencement date of the first two phases was determined to have occurred in the quarter ended January 31, 2022, when the landlord delivered the applicable leased space to the Company. The lease commencement date of other phases will be determined when the landlord delivers the applicable leased space to the Company.

The components of total lease costs, including variable lease costs, for the fiscal years ended April 30, 2022 and 2021 were as follows (in thousands):


	Fiscal Year Ended April 30,
Lease Costs	2022		2021
Operating lease costs	$	5,587	$	3,793
Short term lease costs	1,538		1,568
Variable lease costs	1,892		1,589
Total lease costs	$	9,017	$	6,950

Variable lease costs are primarily related to payments made to the Company’s landlords for common area maintenance, property taxes, insurance, and other operating expenses. Short-term lease costs primarily represents payments related to marketing arrangements that contain embedded short-term leases of billboards. Supplemental cash flow information and non-cash activity related to leases was as follows (in thousands):


	Fiscal Year Ended April 30,
	2022		2021

Cash payments included in the measurement of operating lease liabilities – operating cash flows	$	4,667	$	4,031

Right-of-use assets obtained in exchange for lease obligations	$	26,529	$	—
Right-of-use assets obtained in exchange for lease obligations arising from lease modifications	$	1,572	$	—

The following table presents the lease balances within the consolidated balance sheet, weighted-average remaining lease term, and weighted-average discount rates related to the Company’s operating leases (in thousands):


		As of April 30,
Operating leases		2022		2021
Right-of-use assets	Other assets, non-current	$	29,010	$	5,094
Lease liabilities, current	Other current liabilities	3,613		3,894
Lease liabilities, non-current	Other long-term liabilities	26,851		1,735
Total operating lease liabilities		$	30,464	$	5,629


	As of April 30,
Operating leases	2022		2021
Weighted average remaining lease term (in years)	9.7		1.4
Weighted average discount rate	3.5	%	7.3	%

Future minimum payments under lease obligations at April 30, 2022 were as follows (in thousands):


	As of April 30, 2022
Fiscal 2022	$	4,097
Fiscal 2023	5,752
Fiscal 2024	5,928
Fiscal 2025	6,101
Fiscal 2026 and thereafter	47,548
Total future minimum lease payments	69,426
Less: Tenant improvement allowance	(26,782)
Less: Imputed interest	(12,180)
Total operating lease liabilities	$	30,464

Commitment and Contingencies	12 Months Ended
Commitment and Contingencies	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Non-cancellable Commitments The Company entered into a non-cancellable arrangement with a web-hosting services provider in November 2019. Under the arrangement, the Company committed to spend an aggregate of at least $30.0 million between November 2019 and November 2022, with a minimum amount of $10.0 million in each of the three years, on services with this vendor. The Company has incurred costs totaling $13.9 million, $14.3 million and $4.4 million under the arrangement during the fiscal years ended April 30, 2022, 2021 and 2020, respectively. C3.ai DTI Grants In February 2020, the Company entered into an agreement establishing the C3.ai DTI, a program established to attract many of the world’s leading research institutions to join in a coordinated and innovative effort to advance the digital transformation of business, government, and society. As part of the agreement, the Company has agreed to issue grants to C3.ai DTI, which are subject to compliance with certain obligations. The grants shall be paid by the Company over five years in the form of cash, publicly traded securities, or other property of equivalent net value. As of April 30, 2022 and 2021, the total potential remaining contributions are $31.6 million and $43.1 million, respectively. The future grant payments are conditional in nature and subject to execution of the program in line with specific requirements. Legal Proceedings The Company is involved in various legal proceedings and periodically receives claims arising in the ordinary course of business. Blattman et al. v. Siebel et al., 15-cv-00530 (D. Del.) On October 28, 2014, Eric Blattman and other former unitholders of E2.0 LLC (“E2.0”), and collectively, the Plaintiffs, filed suit in federal court against Thomas M. Siebel and David Schmaier, alleging violation of Section 10(b) of the Securities Exchange Act of 1934 and common law fraud based on alleged misrepresentations made during negotiations leading up to an April 30, 2012 merger between E2.0 and the Company. Plaintiffs thereafter amended their complaint to add the Company as a defendant, and to add breach of contract claims based on alleged violations of certain earn-out and indemnification provisions in the parties’ merger agreement. A bench trial was held in February 2019, and in a January 29, 2020 opinion the court ruled in favor of defendants the Company, Siebel and Schmaier on all claims. The court also awarded defendants their reasonable attorneys’ fees and costs in defending the action. In February 2020, Plaintiffs appealed only the portion of the district court’s ruling related to the alleged breach of contract indemnification claim to the Third Circuit Court of Appeals. On February 17, 2021, the Third Circuit affirmed the judgment and orders of the district court in the Company’s and defendants’ favor. On August 10, 2021, the special master appointed by the district court to consider an order on recovery of fees and costs issued a recommendation that the Company be awarded $9.7 million in fees and expenses. Plaintiffs objected to the special master’s recommendation and requested an award of $8.3 million, which the Company opposed. On December 6, 2021, the district court issued an order awarding $9.4 million in attorney’s fees and costs to the Company. The Company received the award in January 2022 and recorded $9.4 million in other income (expenses), in the consolidated statement of operations for the fiscal year ended April 30, 2022. Securities Litigation On March 4, 2022, a putative securities class action complaint (captioned The Reckstin Family Trust v. C3.ai, Inc. et al., 22-cv-01413-HSG) was filed in the U.S. District Court for the Northern District of California against us, and certain current and former officers and directors. The complaint generally alleges that the defendants made material misstatements or omissions about our partnership with Baker Hughes and other strategic alliances, our market potential, and the uptake of our products. The complaint alleges that defendants made these misstatements or omissions in connection with our IPO in violation of Sections 11 and 15 of the Securities Act of 1933 and between December 9, 2020 and February 15, 2022, inclusive, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint seeks unspecified damages, interest, fees and costs. Additionally, on May 23, 2022, a putative shareholder derivative action (captioned Suri v. Siebel et al., 22-cv-03031) was filed in the U.S. District Court for the Northern District of California. The plaintiff asserts claims on the Company’s behalf against certain of the Company’s officers and directors for breach of fiduciary duty, gross mismanagement, abuse of control, unjust enrichment, and contribution under the Securities Exchange Act of 1934 based on allegations similar to those in the securities class action. The Company is named as a nominal defendant. The derivative complaint seeks unspecified damages, an award of costs and expenses, including reasonable attorneys’ fees, and corporate governance reforms. The Company does not believe the claims have merit. As of the date of this report, the Company does not believe it is probable that these cases will result in an unfavorable outcome; however, if an unfavorable outcome were to occur in these cases, it is possible that the impact could be material to the Company's results of operations in the period(s) in which any such outcome becomes probable and estimable. In addition, from time to time, the Company is involved in various other legal proceedings arising in the ordinary course of business. Apart from the foregoing, the Company is not presently a party to any other such litigation the outcome of which, the Company believes, if determined adversely to the Company, would individually, or taken together, have a material adverse effect on the Company’s business, operating results, cash flows, or financial condition.

Redeemable Convertible Preferred Stock and Redeemable Convertible A-1 Common Stock	12 Months Ended
	Apr. 30, 2022
Temporary Equity Disclosure [Abstract]
Redeemable Convertible Preferred Stock and Redeemable Convertible A-1 Common Stock	Redeemable Convertible Preferred Stock and Redeemable Convertible A-1 Common StockUpon completion of the IPO, all 33,628,776 shares of the Company’s outstanding redeemable convertible preferred stock, except the Series A* preferred stock, automatically converted into an equivalent number of shares of Class A common stock on a one-to-one basis and all 3,499,992 shares of the Company’s outstanding redeemable convertible Series A* preferred stock automatically converted into an equivalent number of shares of Class B common stock on a one-to-one basis. The carrying value of $399.8 million of all classes of the Company’s outstanding redeemable convertible preferred stock was reclassified into stockholders’ equity. Additionally, all 6,666,665 shares of the Company’s outstanding redeemable convertible Class A-1 common stock automatically converted into an equivalent number of shares of Class A common stock on a one-to-one basis and their carrying value of $18.8 million was reclassified into stockholders’ equity. As of April 30, 2022 and 2021, there were no shares of redeemable convertible preferred stock issued and outstanding. See Note 1. Summary of Business and Significant Accounting Policies for more information.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Apr. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Preferred Stock The Company has authorized the issuance of 200,000,000 shares of undesignated preferred stock with a par value of $0.001 per share with rights and preferences, including voting rights, designated from time to time by the board of directors. As of April 30, 2022 there were no shares of preferred stock issued or outstanding. Common Stock The Company has authorized the issuance of 1,000,000,000 shares of Class A common stock and 3,500,000 shares of Class B common stock. The shares of Class A common stock and Class B common stock are identical, except with respect to voting, conversion, and transfer rights. Each share of Class A common stock is entitled to one vote. Each share of Class B common stock is entitled to 50 votes. Class A and Class B common stock have a par value of $0.001 per share and are referred to as common stock throughout the notes to the consolidated financial statements, unless otherwise noted. Holders of common stock are entitled to receive any dividends as may be declared from time to time by the board of directors. Shares of Class B common stock may be converted to Class A common stock at any time at the option of the stockholder. Each share of Class B common stock will be automatically converted into one share of Class A common stock upon the earliest of the following: (i) the date that is six months following the death or incapacity of Mr. Siebel; (ii) the date that is six months following the date that Mr. Siebel is no longer providing services to the Company as an officer, employee, director, or consultant; (iii) December 11, 2040, which is the twentieth anniversary of the completion of the IPO; or (iv) the date specified by the holders of a majority of the then outstanding shares of Class B common stock, voting as a separate class. Future transfers by holders of Class B common stock will generally result in those shares converting to Class A common stock. Common Stock Subject to Repurchase Under the Company’s Amended and Restated 2012 Equity Incentive Plan (the “2012 Incentive Plan”), optionholders are allowed to exercise stock options to purchase Class A common stock prior to vesting. The Company has the right to repurchase at the original purchase price any unvested but outstanding common shares upon termination of service of the optionholder. The consideration received for an early exercise of a stock option is considered to be a deposit of the exercise price and the related amount is recorded as a liability. The net proceeds during the fiscal years ended April 30, 2022, 2021 and 2020 were nil, $6.0 million and $1.9 million, respectively. The liability is reclassified into equity on a ratable basis as the stock options vest. The Company has recorded a current liability of $2.0 million and $5.3 million as of April 30, 2022 and 2021, respectively. Unvested Class A common stock of 373,790 and 1,091,306 shares as of April 30, 2022 and 2021, respectively were subject to such repurchase right and are legally issued and outstanding as of each period presented. See Note 10. Stock-Based Compensation for more information. Stock Repurchase Program In December 2021, the Company's board of directors approved a stock repurchase program for the repurchase of up to $100.0 million of the Company’s outstanding shares of Class A common stock for the 18 months following the date of such approval. Under the program, the Company may purchase stock in the open market or through privately negotiated transactions in accordance with applicable securities laws. The timing and actual amount of the stock repurchases will depend on several factors including price, capital availability, regulatory requirements, alternative investment opportunities and other market conditions. In March 2022, the Company repurchased and immediately retired 0.7 million shares of its Class A common stock for an aggregate amount of $15.0 million.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

12 Months Ended

Apr. 30, 2022

Stock-Based Compensation

On June 29, 2012, the Company adopted the 2012 Incentive Plan. The 2012 Incentive Plan provided for the grant of stock-based awards to employees, non-employee directors, and other service providers of the Company. The 2012 Incentive Plan was terminated in December 2020 in connection with the IPO but continues to govern the terms of outstanding awards that were granted prior to the termination of the 2012 Incentive Plan. No further equity awards will be granted under the 2012 Incentive Plan. With the establishment of the 2020 Equity Incentive Plan (the “2020 Incentive Plan”) as further discussed below, upon the expiration, forfeiture, cancellation, or reacquisition of any shares of Class A common stock underlying outstanding stock-based awards granted under the 2012 Incentive Plan, an equal number of shares of Class A common stock will become available for grant under the 2020 Plan (the “Returning Shares”).

On November 27, 2020, the Company’s board of directors adopted, and its stockholders approved, the 2020 Incentive Plan, which became effective in connection with the IPO. The 2020 Incentive Plan provides for the grant of incentive stock options, nonstatutory stock options, stock appreciation rights, restricted stock awards, RSU awards, performance awards and other equity awards. As of April 30, 2022, the number of shares of Class A common stock available for issuance was 16,232,017. The number of shares of Class A common stock reserved for issuance under the 2020 Incentive Plan is subject to automatic evergreen increases annually through (and including) May 1, 2030 pursuant to the terms of the 2020 Incentive Plan.

On November 27, 2020, the Company’s board of directors also adopted, and its stockholders also approved, the 2020 Employee Stock Purchase Plan (the “2020 ESPP”), which became effective immediately prior to the IPO. The 2020 ESPP authorizes the issuance of shares of Class A common stock pursuant to purchase rights granted to employees. A total of 3,000,000 shares of Class A common stock were initially reserved for future issuance under the 2020 ESPP. The number of shares of Class A common stock reserved for issuance under the 2020 ESPP is subject to automatic evergreen increases annually through (and including) May 1, 2030 pursuant to the terms of the 2020 ESPP. The 2020 ESPP permits participants to purchase shares of Class A common stock in an amount not exceeding 15% of their earnings during the relevant offering period. The offering dates and purchase dates for the 2020 ESPP are determined at the discretion of the Company’s board of directors. As of April 30, 2022, the Company had not yet launched its 2020 ESPP.

Stock Options to Acquire Class A Common Stock

These stock options generally expire 10 years from the date of grant, or earlier if services are terminated. Generally, each stock option for common stock is subject to a vesting schedule such that one fifth of the award vests after the first-year anniversary and one-sixtieth of the award vests each month thereafter over the remaining four years, subject to continuous service.

A summary of the Company’s option activity during the periods indicated was as follows:


	Options Outstanding
	Number of Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
	(in thousands)				(in thousands)
Balance as of April 30, 2020	32,877	$	3.48	8.03	$	116,962
Options granted	14,504	11.50
Options exercised	(5,799)	2.90
Options cancelled	(3,095)	5.89
Balance as of April 30, 2021	38,487	6.39		7.98	$	2,304,714
Options granted	6,327	45.41
Options exercised	(4,651)	4.61
Options cancelled	(3,825)	15.29
Balance as of April 30, 2022	36,338	$	12.44	7.34	$	165,436
Vested and exercisable as of April 30, 2022	16,300	$	5.63	6.39	$	185,103
Vested and expected to vest as of April 30, 2022(1)	36,712	$	12.44	7.34	$	167,138

(1) The number of options vested and expected to vest as of April 30, 2022 includes early exercised, unvested Class A common stock. Refer to Note 9. Stockholders’ Equity for more information.

The weighted average grant date fair value of options granted during the fiscal years ended April 30, 2022, 2021 and 2020 was $19.15, $6.17 and $2.22, respectively. Aggregate intrinsic value represents the difference between the estimated fair value of the underlying common stock and the exercise price of outstanding in-the-money options. The total intrinsic value of options exercised during the fiscal years ended April 30, 2022, 2021 and 2020 was $187.3 million, $137.3 million and $4.2 million, respectively. The total grant date fair value of options vested during the fiscal years ended April 30, 2022, 2021 and 2020 was $35.3 million, $15.0 million and $6.8 million, respectively.

As of April 30, 2022 and 2021, there was $151.0 million and $97.8 million, respectively, of unrecognized compensation cost related to stock options which are expected to be recognized over an estimated weighted-average period of 3.3 years and 3.8 years, respectively.

The grant-date fair value of the options issued for the fiscal years ended April 30, 2022 and 2021 are estimated on the date of grant using the Black-Scholes-Merton option pricing model. The weighted average assumptions underlying the fair value estimation are provided in the following table:


	Fiscal Year Ended April 30,
	2022		2021
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	44.1	%	43.8	%
Expected term (years)	6.4		6.3
Risk-free interest rate	1.1	%	0.4	%

Restricted Stock Units

During the fiscal year ended April 30, 2021, the Company began granting RSUs to its employees and some service providers. No RSUs were granted prior to the IPO. The RSUs are typically subject to service-based vesting conditions satisfied over five years with one-fifth of the award vesting after the first-year anniversary and one-twenty-fifth of the award vesting quarterly thereafter. The related stock-based compensation is recognized on a straight-line basis over the requisite service period. For the fiscal year ended April 30, 2022, the Company recognized stock-based compensation expense of $72.9 million associated with such RSUs.

A summary of the Company’s RSU activities and related information is as follows:


	RSUs Outstanding
	Number of RSUs	Weighted Average Grant Date Fair Value Per Share
	(in thousands)
Unvested Balance as of April 30, 2020	—	$	—
RSUs granted	447	74.52
Unvested Balance as of April 30, 2021	447	74.52
RSUs granted	13,750	37.49
RSUs vested	(264)	52.53
RSUs forfeited	(1,824)	54.06
Unvested Balance as of April 30, 2022	12,109	$	36.04

As of April 30, 2022 and 2021, there was $375.6 million and $32.2 million respectively, of unrecognized stock-based compensation expense related to outstanding RSUs granted to employees that is expected to be recognized over a weighted-average period of 3.5 years and 4.8 years, respectively.

Stock-based Compensation Expense

The following table summarizes the effects of stock-based compensation on the Company’s consolidated statements of operations (in thousands):


	Fiscal Year Ended April 30,
	2022		2021		2020
Cost of subscription	$	8,638	$	828	$	370
Cost of professional services	2,710		376		122
Sales and marketing	40,344		9,080		3,074
Research and development	39,200		2,950		1,223
General and administrative	22,549		8,506		3,521
Total stock-based compensation expense	$	113,441	$	21,740	$	8,310

Shareholder Loan

In January 2018, in connection with the Series F preferred stock financing, the Company issued 1,251,921 shares of Series F preferred stock in exchange for a note receivable of $24.5 million from its CEO. Prior to the automatic conversion of all Series F preferred stock outstanding into Class A common stock upon the completion of the IPO, the underlying shares of Series F preferred stock were legally outstanding though were not included in the carrying amounts of preferred stock as the note receivable is treated as an equity classified stock-based option grant. In September 2020, the Company’s CEO paid the outstanding full recourse promissory note and accrued interest in the amount of $26.0 million. No interest income was recorded for the note. Refer to Note 13. Related Party Transactions for more information.

Income Taxes

12 Months Ended

Apr. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income TaxesThe components of the Company’s net loss before provision for income taxes for the fiscal years ended April 30, 2022, 2021 and 2020 was as follows (in thousands):


	Fiscal Year Ended April 30,
	2022		2021		2020
Domestic	$	(189,891)	$	(58,407)	$	(69,887)
Foreign	(1,385)		3,415		889
Net loss before provision for income taxes	$	(191,276)	$	(54,992)	$	(68,998)

The components of the Company’s provision for income taxes for the fiscal years ended April 30, 2022, 2021 and 2020 was as follows (in thousands):


	Fiscal Year Ended April 30,
	2022		2021		2020
Current expense
Federal	$	—	$	—	$	—
State	310		286		113
Foreign	479		418		267
Total	789		704		380
Deferred expense
Federal	—		—		—
State	—		—		—
Foreign	—		—		—
Total	—		—		—
Total provision for income taxes	$	789	$	704	$	380

The reconciliation of U.S. federal statutory rate to the Company’s effective tax rate was follows (in thousands):


	Fiscal Year Ended April 30,
	2022		2021		2020
Expected benefit at federal statutory rate	$	(40,119)	$	(11,628)	$	(14,489)
State tax expense—net of federal benefit	310		286		113
Impact of foreign operations	770		(299)		85
Federal research and development credit	(1,109)		(694)		(530)
Change in valuation allowance	59,450		30,587		14,837
Stock-based compensation	(19,152)		(17,667)		(23)
Meals and entertainment	50		35		242
Other permanent items	589		84		145
Total provision for income taxes	$	789	$	704	$	380

The difference in the Company’s effective tax rate and the U.S. federal statutory tax rate is primarily due to recording a full valuation allowance on the Company’s U.S. deferred tax assets.

The components of deferred tax assets and liabilities as of April 30, 2022 and 2021 was as follows (in thousands):


	As of April 30,
	2022		2021
Deferred tax assets
Accrued payroll	$	521	$	889
Other accruals & reserves	6,185		4,053
Operating lease liability	6,957		1,323
Deferred revenue	442		1,258
Depreciation	2,099		1,588
Net operating losses	114,291		73,189
R&D tax credit	6,618		4,778
Stock based compensation	15,669		3,690
Other	905		327
Gross deferred tax assets	153,687		91,095
Valuation allowance	(144,678)		(88,015)
Total deferred tax assets	9,009		3,080
Deferred tax liabilities
Prepaid expenses	(2,384)		(1,883)
Operating lease right-of-use assets	(6,625)		(1,197)
Total deferred tax liabilities	(9,009)		(3,080)
Net deferred tax assets (liabilities)	$	—	$	—

In determining the need for a valuation allowance, the Company weighs both positive and negative evidence in the various jurisdictions in which it operates to determine whether it is more likely than not that its deferred tax assets are recoverable. In assessing the ultimate realizability of its net deferred tax assets, the Company considers all available evidence, including cumulative losses since inception and expected future losses and as such, management does not believe it is more likely than not that the deferred tax assets will be realized. Accordingly, a full valuation allowance has been established in the U.S. and no deferred tax assets and related tax benefit have been recognized in the accompanying financial statements. The valuation allowance as of April 30, 2022 and 2021 was $144.7 million and $88.0 million, respectively. The increase of $56.7 million in the Company’s valuation allowance compared to the prior fiscal year was primarily due to an increase in deferred tax assets arising from net operating loss.

As of April 30, 2022 and 2021, the Company had net operating loss carryforwards for federal income tax purposes of approximately $486.2 million and $308.3 million, respectively. The federal net operating loss carryforwards will expire, if not utilized, beginning in year 2029. Federal research and development tax credit carryforwards of approximately $7.6 million, will expire beginning in 2032 if not utilized. Federal charitable contribution carryforwards of approximately $25.7 million will expire beginning in 2022 if not utilized. Federal capital loss carryforwards of approximately $1.0 million will begin to expire in 2026 if not utilized.

In addition, as of April 30, 2022 and 2021, the Company had net operating loss carryforwards for state income tax purposes of approximately $180.4 million and $139.7 million, respectively. The state net operating loss carryforwards will expire, if not utilized, beginning in the year 2032. The Company had state research and development tax credit carryforwards of approximately $7.1 million. The state research and development tax credits do not expire. State capitol loss carryforwards of approximately $0.4 million will begin to expire in 2026 if not utilized.

The Tax Reform Act of 1986 and similar California legislation impose substantial restrictions on the utilization of net operating losses and tax credit carryforwards if there is a change in ownership as provided by Section 382 of the Internal Revenue Code and similar state provisions. Such a limitation could result in the expiration of the net operating loss carryforwards and tax credits before utilization.

A reconciliation of the beginning and ending amount of the Company’s total gross unrecognized tax benefits was as follows (in thousands):


	As of April 30,
	2022		2021
Balance as of May 1	$	5,333	$	4,048

Increases for tax positions related to the current year	2,035		1,285
Balance as of April 30	$	7,368	$	5,333

As of April 30, 2022, no amount of unrecognized tax benefits, if recognized, would impact the Company’s effective income tax rate, given the Company’s full valuation allowance position. The Company does not expect any unrecognized tax benefits to be recognized within the next 12 months.

The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense. As of April 30, 2022 and 2021, the Company has no cumulative interest and penalties related to unrecognized tax benefits. The Company does not anticipate a significant change in the unrecognized tax benefits over the next 12 months.

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted by the United States on March 27, 2020. The CARES Act did not have a material impact on the Company’s provision for income taxes for the fiscal year ended April 30, 2022.

The American Rescue Plan Act of 2021 (“ARPA”) was signed by President Biden on March 11, 2021. The legislation revised IRC Section 162(m) which will go into effect beginning with tax years that begin after December 31, 2026. It expanded the definition of “covered employees” to include an additional five highest-compensated employees which do not remain as covered employees indefinitely. The Company has assessed the relevant provisions and concludes the tax provisions of the ARPA did not have a material impact on the Company’s consolidated financial statements for the fiscal year ended April 30, 2021.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Net Loss Per Share Attributable to Common Stockholders

Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Apr. 30, 2022

Earnings Per Share [Abstract]

Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. Class A and B common shares have identical liquidation and distribution rights. Prior to the automatic conversion of all shares of redeemable convertible Class A-1 common stock into Class A common stock upon the completion of the IPO, the shares of redeemable convertible Class A-1 common stock had a liquidation preference, but were legal form common stock and participated in losses equally with all common stockholders.

Prior to the automatic conversion of all of its redeemable convertible preferred stock outstanding into Class A and Class B common stock upon the completion of the IPO, the Company considered all redeemable convertible preferred stock to be participating securities because they participated in any dividends declared on the Company’s common stock on an as-if-converted basis. Redeemable convertible preferred stock did not participate in the net loss per share with common stockholders as the holders of the convertible preferred did not have a contractual obligation to share in the Company’s losses.

Accordingly, under the two-class method, the net loss is not allocated to the redeemable convertible preferred stock such that the resulting net loss for all periods presented was allocated on a proportionate basis to shares of Class A, Class A-1, and Class B common stock for the number of days that each class was issued and outstanding during the period.

Basic net loss per share attributable to common stockholders is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. Diluted net loss per share attributable to common stockholders is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period to the extent they are dilutive. For purposes of this calculation, the convertible preferred, stock options, and early exercised stock options subject to repurchase are considered to be potential common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive for all periods presented. Basic net loss per share was the same as diluted net loss per share for the periods presented because the Company was in a loss position for years ended April 30, 2022, 2021 and 2020.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):


	Fiscal Year Ended April 30,
	2022		2021		2020
Numerator
Net loss attributable to common stockholders	$	(192,065)	$	(55,696)	$	(69,378)
Denominator
Basic and diluted weighted-average Class A common shares outstanding	100,904		56,678		29,133
Basic and diluted weighted-average Class A-1 common shares outstanding	—		6,667		6,667
Basic and diluted weighted-average Class B common shares outstanding	3,500		3,500		—
Basic and diluted net loss per share attributable to common stockholders
Basic and diluted net loss per Class A common shares outstanding	$	(1.84)	$	(0.90)	$	(1.94)
Basic and diluted net loss per Class A-1 common shares outstanding	$	—	$	(0.55)	$	(1.94)
Basic and diluted net loss per Class B common shares outstanding	$	(1.84)	$	(0.35)	$	—

At April 30, 2022, 2021 and 2020, the Company’s potentially dilutive securities were convertible preferred stock and stock options, which have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share attributable to common stockholders. Based on the amounts outstanding at April 30, 2022, 2021 and 2020, the potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the period presented because including them would have had an antidilutive effect were as follows:


	Fiscal Year Ended April 30,
	2022	2021	2020
Convertible preferred stock
Series A*	—	—	3,499,992
Series B*	—	—	4,559,999
Series B-1A*	—	—	2,430,635
Series B-1B*	—	—	92,769
Series C*	—	—	2,779,738
Series D	—	—	12,278,422
Series E	—	—	540,003
Series F	—	—	5,399,581
Series G	—	—	3,893,701
Series H	—	—	1,653,928
Stock options	36,711,820	39,577,809	33,533,380
RSUs	12,109,114	447,095	—

Related Party Transactions

12 Months Ended

Apr. 30, 2022

Related Party Transactions

Shareholder Loan

In January 2018, the Company issued 1,251,921 shares of Series F Preferred Stock in exchange for a non-recourse promissory note to Thomas M. Siebel, the Company’s CEO, in the amount of $24.5 million. The promissory note has a term of five years with the ability to renew for up to four successive one-year periods and bears interest at a rate of 2.18% per annum, compounded annually. In September 2020, Mr. Siebel paid the outstanding promissory note in full including accrued interest in the total amount of $26.0 million. Refer to Note 10. Stock-Based Compensation for more information.

Revenue Transactions with Baker Hughes Company

In June 2019, the Company entered into multiple agreements with Baker Hughes Company (“Baker Hughes”) under which Baker Hughes received a three-year subscription to use the Company’s software. These agreements were revised in June 2020 to extend the term to five years and modify the subscription fees due. Under the revised agreements, Baker Hughes has made minimum, non-cancellable revenue commitments, which are inclusive of their direct subscription fees and third party revenue generated through a joint marketing arrangement with Baker Hughes, in the amount of $46.7 million in fiscal year 2020, $53.3 million in the fiscal year ending April 30, 2021, $75.0 million in the fiscal year ending April 30, 2022, $125.0 million in the fiscal year ending April 30, 2023, and $150.0 million in the fiscal year ending April 30, 2024. The Company also agreed to pay Baker Hughes a sales commission on subscriptions and services offerings it resold in excess of these minimum revenue commitments.

The Company and Baker Hughes further revised these agreements in October 2021 to extend the term by an additional year, for a total of six years, with an expiration date in the fiscal year ending April 30, 2025, to modify the amount of Baker Hughes’ annual commitments to $85.0 million in fiscal year 2023, $110.0 million in fiscal year 2024, and $125.0 million in fiscal year 2025, and to revise the structure of the arrangement to further incentivize Baker Hughes’ sales of the Company’s products and services.

A portion of the transaction price in the Company’s arrangement with Baker Hughes is variable. Beginning in the fiscal year ending April 30, 2023, Baker Hughes’ annual commitments will be reduced by any revenue the Company generates from certain customers. Known and estimable revenue from certain customers related to the arrangement is a form of variable consideration, which was determined at contract inception and reduces the revenues recognized from the arrangement. At the end of each reporting period, the Company reviews and updates the estimate as additional information becomes available.

Pursuant to the revised arrangement, the Company acknowledged that Baker Hughes had met its minimum annual revenue commitment for the fiscal year ending April 30, 2022 and recognized $16.0 million of sales commission as deferred costs during the fiscal quarter ended October 31, 2021 related to this arrangement, which will be amortized over an expected period of five years.

Revenues recognized under the arrangement were as follows (in thousands):


	Fiscal Year Ended April 30,
	2022		2021		2020
Direct subscription	$	60,425	$	30,557	$	40,425
Direct professional services	16,872		4,825		292
Total revenue from direct subscription and professional services	77,297		35,382		40,717
Total revenue from certain customers in Oil and Gas field related to the Baker Hughes arrangement	27,732		20,491		5,929
Total revenue related to the arrangement	$	105,029	$	55,873	$	46,646

As of April 30, 2022 and 2021, balances related to Baker Hughes that are reported within accounts receivable, net (inclusive of unbilled receivables of $16.5 million and $2.8 million, respectively) included $35.8 million and $15.2 million, respectively and deferred revenue, current included $0.1 million and $7.7 million, respectively.

The Company recognized cost of subscription revenue related to services purchased from Baker Hughes of $0.6 million, $0.1 million and nil for the fiscal years ended April 30, 2022, 2021 and 2020, respectively. The Company recognized sales and marketing expenses related to Baker Hughes of $8.2 million, less than $0.1 million and nil for the fiscal years ended April 30, 2022, 2021 and 2020, respectively. As of April 30, 2022 and 2021, accounts payable related to Baker Hughes included $18.5 million and $0.1 million, respectively.

The remaining performance obligations related to Baker Hughes, which includes both direct subscriptions and reseller arrangements, is comprised of (in thousands):


	As of April 30,
	2022		2021
Deferred revenue	$	2,337	$	8,487
Commitments from non-cancellable contracts	212,934		95,542
Total remaining performance obligations	$	215,271	$	104,029

As of April 30, 2022 and 2021, the current portion of deferred costs of $4.9 million and $1.7 million, respectively, were included in prepaid expenses and other current assets and the non-current portion of $16.1 million and $6.6 million, respectively, were included in other assets, non-current. The Company amortized $3.3 million, nil and nil, respectively, of deferred commissions during the fiscal year ended April 30, 2022, 2021 and 2020, respectively, and these amounts were included in sales and marketing expense in the consolidated statements of operations.

The Company recognized $16.0 million and $8.3 million of sales commission as deferred costs during the fiscal year ended April 30, 2022 and 2021, respectively, related to this arrangement. The sales commissions of $8.3 million recognized in the fiscal year ended April 30, 2021 is payable to Baker Hughes over the term of three years based on the agreements, of which the Company paid $3.4 million during the fiscal year ended April 30, 2022. The sales commissions of $16.0 million recognized in the fiscal year ended April 30, 2022 will be amortized over an expected period of five years and payable to Baker Hughes by April 30, 2022. The sales commission of $16.0 million will be paid in the first quarter of fiscal year 2023.

As of April 30, 2022 and 2021, accrued and other current liabilities related to Baker Hughes included $2.5 million and $3.4 million, respectively, and other long-term liabilities included $2.4 million and $4.9 million, respectively.

Summary of Business and Significant Accounting Policies (Policies)	12 Months Ended
	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation and Principles of ConsolidationThe Company prepares its consolidated financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”).
Principles of Consolidation	The consolidated financial statements include the accounts of C3.ai, Inc. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates include determining standalone selling price for performance obligations in contracts with customers and estimating variable consideration, the estimated expected benefit period for deferred contract acquisition costs, the useful lives of long-lived assets and other assumptions used to measure stock-based compensation, and the valuation of deferred income tax assets and uncertain tax positions. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions.
Fiscal Year	Fiscal YearThe Company’s fiscal year ends on April 30.
Concentration of Risk	Concentration of Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash and cash equivalents, investments and accounts receivable. The majority of the Company’s cash and cash equivalents are held by one financial institution. The Company is exposed to that financial institution to the extent that its cash balance with that financial institution is in excess of Federal Deposit Insurance Company (“FDIC”) insurance limits. The Company’s investment policy is to invest in securities with a minimum rating of P-2 by Moody’s, A-2 by Standard & Poor’s, F2 by Fitch’s or higher for short-term investments, and minimum rating of BBB by Moody’s, Standard & Poor’s, Fitch’s or higher for long-term investments.
Cash and Cash Equivalents	Cash and Cash EquivalentsThe Company considers all highly liquid investments with an original maturity of three months or less at the time of purchase to be cash equivalents.
Investments	Investments The Company determines the appropriate classification of investments at the time of purchase and reevaluates such determination at each period-end. The Company’s investments, comprised of money market funds, U.S. treasury securities, certificates of deposit, U.S. government agency securities, commercial paper and corporate debt securities, are classified as available-for-sale marketable securities. Such securities are carried at estimated fair values and reported in cash equivalents, short-term investments or long-term investments. Unrealized gains and losses, net of tax, are reported in other comprehensive (loss) income as a separate component on the consolidated statements of comprehensive loss. Fair value is determined based on quoted market rates when observable or by utilizing data points that are observable, such as quoted prices, interest rates and yield curves. Declines in fair value judged to be other-than-temporary on available-for-sale marketable securities are recorded within other income (expense), net on the consolidated statements of operations. In order to determine whether a decline in value is other-than-temporary, the Company evaluates, among other factors, the duration and extent to which the fair value has been less than the carrying value and its intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value. The cost of securities sold is based on the specific-identification method. Interest on securities classified as available-for-sale marketable securities is included in interest income on the consolidated statements of operations. Non-marketable equity securities without readily determinable fair values are recorded at cost, less impairment, and adjusted to fair value within other expense, net if there are observable price changes for identical or similar securities. Non-marketable equity securities are recorded within long-term investments. Impairment loss is recorded in other expense, net on the consolidated statements of operations.
Accounts Receivable	Accounts ReceivableAccounts receivable includes billed and unbilled receivables, net of allowance of doubtful accounts. Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The expectation of collectability is based on a review of credit profiles of customers, contractual terms and conditions, current economic trends, and historical payment experience. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering the age of each outstanding invoice and the collection history of each customer to determine the appropriate amount of allowance for doubtful accounts.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Assets and liabilities that are measured at fair value are reported using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: Level 1—Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2—Inputs other than quoted prices in active markets that are observable for the asset or liability, either directly or indirectly. Level 3—Inputs that are unobservable for the asset or liability. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The carrying amounts of the Company’s financial instruments, including cash, cash equivalents, restricted cash, accounts receivable, accounts payable, and accrued expenses, approximate their fair value due to their short maturities.
Property and Equipment	Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Assets are depreciated using the straight-line method over useful lives of three to five years. Leasehold improvements and certain furniture and fixtures are amortized using the straight-line method over the lesser of the remaining respective lease term or useful lives.
Impairment of Long-Lived Assets	Impairment of Long-Lived AssetsThe Company evaluates long-lived assets or asset groups for impairment whenever events indicate that the carrying value of an asset or asset group may not be recoverable based on expected future cash flows attributable to that asset or asset group. Recoverability of assets held and used is measured by comparing the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset or asset group exceeds estimated undiscounted future cash flows, then an impairment charge would be recognized based on the excess of the carrying amount of the asset or asset group over its fair value. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell.
Goodwill	GoodwillGoodwill is the amount by which the cost of acquired net assets in a business combination exceeds the fair value of the net identifiable assets on the date of purchase and is carried at its historical cost. The Company tests goodwill for impairment on an annual basis or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company performs its annual impairment test of goodwill as of February 1, and whenever events or circumstances indicate that the asset might be impaired.
Leases	Leases The Company has lease arrangements that include lease and non-lease components. The Company has elected to not account for the lease and non-lease components separately. For leases that commenced before the Company’s adoption date of Accounting Standards Codification (“ASC”) Topic 842, Leases, the Company elected the practical expedient to not reassess the following: (1) whether any expired or existing contracts contain leases; (2) the lease classification for any expired or existing leases; and (3) initial direct costs for any existing leases. For short-term leases, defined as leases with a lease term of 12 months or less, the Company elected to not recognize an associated lease liability and right-of-use (“ROU”), asset. Lease payments for short-term leases are expensed on a straight-line basis over the lease term. The Company does not have financing leases. Operating lease ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of remaining lease payments over the lease term. The Company uses the rate implicit in the lease when readily determinable at lease inception. If the implicit rate is not readily determinable, the Company uses its incremental borrowing rate based on the information available at the adoption date for leases that commenced prior to the adoption date and the commencement date for leases that commenced after the adoption date. The incremental borrowing rate assumptions include the lease term and the Company’s credit risk. The operating lease ROU asset also includes any advance lease payments made and excludes lease incentives. The Company’s lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis as operating expense in the consolidated statements of operations over the lease term.
Deferred Revenue, Revenue Recognition, and Costs to Obtain and Fulfill a Contract	Deferred Revenue Deferred revenue consists of billings or cash received for services in advance of revenue recognition and is recognized as revenue when all of the Company’s revenue recognition criteria are met. The portion of deferred revenue that is anticipated to be recognized as revenue during the succeeding twelve-month period is recorded as deferred revenue, current and the remaining portion is recorded as deferred revenue, non-current. The Company’s contract liabilities are classified as deferred revenue upon the right to invoice or when payments have been received for undelivered products or services. Revenue Recognition The Company accounts for revenue in accordance with ASC Topic 606, Revenue From Contracts With Customers (“ASC 606”) for all periods presented. The core principle of ASC 606 is to recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. This principle is achieved by applying the following five-step approach: Identification of the Contract, or Contracts, with a Customer. A contract with a customer exists when (1) the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the goods or services to be transferred and identifies the payment terms related to these goods or services, (2) the contract has commercial substance and (3) the Company determines that collection of substantially all consideration for goods or services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. The Company applies judgment in determining the customer’s ability and intention to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, published credit and financial information pertaining to the customer. Identification of the Performance Obligations in the Contract. Performance obligations promised in a contract are identified based on the goods or services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the goods or services either on their own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the goods or services is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised goods or services, the Company applies judgment to determine whether promised goods or services are capable of being distinct and distinct in the context of the contract. If these criteria are not met, the promised goods or services are accounted for as a combined performance obligation. Determination of the Transaction Price. The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring goods or services to the customer, net of sales taxes or value-added taxes. If the transaction price includes variable consideration, the Company includes an estimate of the amount it expects to receive if it is probable that a significant reversal of cumulative revenue recognized will not occur. Usage-based fees earned in exchange for the use of the Company’s software licenses and subscription services are subject to the usage-based royalty and series guidance variable consideration estimation exceptions, respectively. Allocation of the Transaction Price to the Performance Obligations in the Contract. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price (“SSP”). When appropriate, the Company determines SSP based on the price at which the performance obligation has previously been sold through past transactions, taking into account internally approved pricing guidelines related to the performance obligations. When the SSP of a license or subscription and bundled maintenance and support services is highly variable and the contract also includes additional performance obligations with observable SSP, the Company first allocates the transaction price to the performance obligations with established SSPs and then applies the residual approach to allocate the remaining transaction price to the license or subscription and bundled maintenance and support services. If applying the residual approach results in zero or very little consideration being allocated to the combined performance obligation, or to a bundle of goods or services, the Company will consider all reasonably available data to determine an appropriate allocation of the transaction price. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Recognition of Revenue when, or as, Performance Obligations are Satisfied. The Company satisfies substantially all of its performance obligations over time, as discussed in further detail below. Revenue is recognized at the time the related performance obligation is satisfied with the transfer of a promised good or service to a customer over time. Subscription Revenue Subscription revenue is primarily comprised of term licenses, stand-ready COE support services, trials of our applications, and software-as-a-service (“SaaS”) offerings. Licenses represent a contractual right for a customer to take possession of the software and it is feasible for the customer to host the software independently. SaaS represents a right for a customer to access the software through the Company’s cloud environment and the customer does not have the right to take possession of the software. Subscriptions also include our maintenance and support services that comprised of critical and continuous updates to the software that are integral to maintaining the intended utility of the software over the contractual term. For the significant majority of the Company’s offerings, software and maintenance and support services are highly interdependent and interrelated and represent a single distinct performance obligation within the context of the contract satisfied over time. Determining whether the software license and maintenance and support services are considered distinct performance obligations that should be accounted for separately or as one combined performance obligation may require significant judgment. In reaching its conclusion, the Company considered the nature of its promise to provide the customer real time analytics and machine learning algorithms that require regular re-training to maintain and improve prediction accuracy. The Company fulfills this promise by providing real time data feeds to the machine learning model and by providing regular tuning, optimization and critical updates to the constantly changing type system. Accordingly, the Company has determined that the software license and maintenance and support services fulfill a single promise to the customer under the contract. The Company’s subscriptions are generally offered under renewable, multi-year, fixed fee contracts where payments are typically due annually in advance. A time-elapsed output method is used to measure progress because the nature of the promise is a stand-ready service. The Company also offers premium stand-ready C3 AI Center of Excellence (“COE”) support services, hosting services and trial services, which are distinct performance obligations. A description of the Company’s offerings are as follows: •C3 AI Application Platform is a comprehensive suite that allows for the design, deployment, and operation of AI, predictive analytics, and applications at enterprise scale. The C3 AI Application Platform provides data scientists and application developers robust advantages for rapid application and analytics development and deployment. Customers primarily pay for the C3 AI Application Platform via fixed annual fees based on the number of development users allowed to access the C3 AI Application Platform. The C3 AI Application Platform offering is primarily a term subscription but at times has been sold as a perpetual license and generates additional runtime subscription fees, a type of consumption or usage-based revenue based on compute and storage resources required to run the C3 AI Application Platform. •C3 AI Applications are production applications that address a wide range of predictive analytics use cases. C3 AI Applications are industry-tested and proven enterprise-grade applications built on a cohesive suite architecture that is designed to integrate and process highly dynamic data sets from sensor networks and enterprise and extraprise information systems, and enable advanced machine learning capabilities. C3 AI Applications sold without the C3 AI Application Platform can be in the form of term or perpetual licenses or subscriptions and earn revenue through a fixed fee and/or usage-based royalties. •C3 Maintenance and Support Services are provided for the C3 AI Application Platform and the C3 AI Applications that are selected by the customer. This support includes standard monitoring, performance monitoring, database maintenance, security monitoring, upgrading, backup and restore, patching, etc. provided by the Company. The Company continuously provides updates that are critical to the continued utility of the software. •COE Support Services. COE Support Services provide premium development services and support by an available pool of resources. The purpose of the COE is to allow the customer to utilize, extend or modify C3 applications and to develop its own applications on the C3 AI Application Platform. To facilitate customer’s efforts, C3 provides the following COE Support Services on the C3 AI Application Platform and C3 applications to customer personnel during the subscription term of COE: (1) support and guidance on C3 AI overall software application architecture; (2) data integration, data science, and application development support on the C3 AI Application Platform; (3) training on the C3 AI Application Platform and C3 AI Applications to the customer project team members; and (4) support to help address any developmental issues faced by the customer. COE Support Services are generally offered under renewable, multi-year, fixed fee contracts whereby payments are primarily due annually in advance and in most cases are co-terminous with the C3 AI Application Platform subscription term. COE Support Services represent a stand-ready performance obligation comprised of a series of distinct days of service that is satisfied and recognized in revenue ratably over the term of the COE agreement. Revenue for COE Support Services is included within subscription revenue in the consolidated statements of operations. •Trials. Trial projects typically consist of several phases including project kickoff, design, data integration, configuration, validation and final demonstration. These trials are typically fixed-price eight to 16-week production pilots during which the Company works with customers to define a specific business problem or use case and address the use case using AI-based predictive analytics. During the trial, the Company integrates data, configures machine learning algorithms supporting the use case, and configures a user interface to present the resulting insights. At the end of a trial, the Company demonstrates a working application that shows the utility, benefit, and economic value to be gained from a production deployment of big data, analytics, and machine learning applications. These paid trials are solely meant to demonstrate the feasibility of the Company’s offering to the customer and provide them with a level of confidence to encourage them to enter into a large, multi-year arrangement with the Company. Trial revenue is recognized over time during the production pilot period. •Hosting Services. For certain customers, the Company provides access to the C3 AI Application Platform and/or C3 AI Applications in the Company’s cloud environment. The customer consumes and receives benefit throughout the hosting period from the entity’s performance of hosting and providing access to the hosted software, which the customer would otherwise have to undertake itself or obtain another party to do. The Company recognizes hosting services over time based on the consumption patterns of the customers. Customers who choose to install the C3 AI Application Platform and/or C3 AI Applications in their own cloud environments do not subscribe to the Company’s hosting services. Hosting services are generally offered as part of the subscription for C3 AI Application Platform and/or C3 Application arrangements and the amount of revenue recognized on a monthly basis varies based on actual consumption by the customer. •Ex Machina is a no-code solution that provides secure, easy access to analysis-ready data, and enables business analysts without data science training to rapidly perform data science tasks such as building, configuring, training, and visualizing AI models. It offers a graphical interface that allows users to connect rapidly to enterprise data stores, and export results to other enterprise applications. C3 AI Ex Machina is offered via a monthly subscription or longer-term subscriptions and can be hosted by the Company or hosted by a customer. Revenue from C3 AI Ex Machina is generated through fixed fee and/or usage-based royalties. Professional Services The Company’s professional services primarily include implementation services, training and prioritized engineering services. The Company offers a complete range of professional service support both onsite and remotely, including training, application design, project management, system design, data modeling, data integration, application design, development support, data science, and application and AI Suite administration support. Professional services fees are based on the level of effort required to perform such tasks and are typically a fixed-fee engagement with a duration of less than 12 months. Contract balances The Company typically invoices customers for subscription fees in annual increments upon execution of the initial contract or subsequent renewal, payable within 30 to 60 days, and providing customers access to the C3 AI Application Platform and/or C3 AI Applications. Monthly usage-based runtime and hosting charges are billed as they are delivered. Certain government contracts are cancellable during the subscription term depending on the future fiscal funding available to the contract. The Company has not experienced any cancellation due to the funding constraint related to such contracts. The timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable are recorded at the invoiced amount, net of an allowance for doubtful accounts. A receivable is recognized in the period the Company delivers goods or provides services, or when the Company’s right to consideration is unconditional, whichever is earlier. In situations where revenue recognition occurs before invoicing, an unbilled receivable is recorded. While the timing of revenue recognition usually differs from the timing of payment, the Company has determined the contracts generally do not include a significant financing component, because the period between when the Company transfers its software and services to a customer and when the customer pays for the software and service is one year or less. The primary purpose of the invoicing terms is to provide customers with simplified and predictable ways of purchasing the Company’s software and services, not to receive financing from the customers or to provide customers with financing. Costs to Obtain and Fulfill a Contract The Company’s customer acquisition costs are primarily related to sales commissions if such costs are incremental costs to obtain a contract without a service condition. Sales commissions are deferred and then amortized taking into consideration the pattern of transfer to which assets relate. If the commissions paid on the initial and renewal contracts are not commensurate, the Company amortizes the commissions paid on the initial contract over an expected period of benefit, including expected renewals, which is determined to be approximately five years. In arriving at the average period of benefit the Company considered the duration of the Company’s relationships with customers and the Company’s technology. Sales commissions for renewal contracts are generally deferred and amortized over the contract period. Sales commissions are expensed as incurred when the expected amortization period is one year or less. Costs to obtain and fulfill a contract that will be amortized within the succeeding 12-month period are classified as current and included in prepaid expenses and other current assets on the consolidated balance sheets. The remaining balance is classified as non-current and are included in other assets on the consolidated balance sheets.
Cost of Revenue	Cost of Revenue Cost of subscription revenue consists primarily of costs related to compensation, including salaries, bonuses, benefits, stock-based compensation and other related expenses for the production environment, support and COE staff, hosting of the Company’s AI Suite, including payments to outside cloud service providers, and allocated overhead and depreciation for facilities. Cost of professional services revenue consists primarily of compensation, including salaries, bonuses, benefits, stock-based compensation and other related costs associated with the Company’s professional service personnel, and allocated overhead and depreciation for facilities.
Warranties	Warranties The Company’s offerings are warranted to perform in a manner consistent with industry standards. The Company’s arrangements generally include provisions for indemnifying customers against liabilities if its services infringe on a third party’s intellectual property rights. They also generally include service-level agreements warranting defined levels of uptime reliability and performance. To date, the Company has not incurred material costs as a result of its warranties and indemnifications. There are no accrued liabilities related to these obligations on the consolidated financial statements.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense related to stock option awards and restricted stock units (“RSUs”) is recognized based on the fair value of the awards granted. The fair value of each option award is estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of highly subjective assumptions, including the fair value of the underlying common stock, the expected term of the option, the expected volatility of the price of the Company’s common stock, risk-free interest rates, and the expected dividend yield of the Company’s common stock. The assumptions used to determine the fair value of the option awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment. The fair value of each RSU is based on the fair value of the Company’s common stock on the date of grant. The related stock-based compensation expense is recognized on a straight-line basis over the requisite service period of the awards. The Company accounts for forfeitures as they occur.
Software Development Costs	Software Development Costs The Company capitalizes certain software development costs subsequent to the establishment of technological feasibility. Based on the Company’s product development process and substantial development risks, the Company’s products are made available for general release as soon as technological feasibility is reached. The Company expenses the cost of purchased software that is to be sold, leased, or otherwise marketed as part of a product until the technological feasibility of the product has been established or where the software has an alternative future use. Once the technological feasibility of the product, to be externally marketed, has been established or where the software has an alternative future use, the Company capitalizes the cost of purchased software until the associated product is available for general release to customers, at which point the capitalized cost is amortized on a product-by-product basis the greater of the ratio of current gross revenues to the total of current and anticipated future gross revenues or over the remaining estimated economic life of the product.
Advertising Expenses	Advertising Expenses Advertising expenses of $51.9 million, $35.3 million and $29.2 million incurred during the fiscal years ended April 30, 2022, 2021 and 2020, respectively, were expensed as incurred as a component of sales and marketing expenses on the consolidated statements of operations.
401(k) Plan	401(k) PlanThe Company has a 401(k) tax deferred savings plan under which eligible employees may elect to have a portion of their salary deferred and contributed to the plan. Employer matching contributions are determined by the Company and are discretionary.
Foreign Currency	Foreign Currency The functional currency of the Company’s foreign subsidiaries is the U.S. dollar. Accordingly, monetary assets and liabilities of the Company’s foreign subsidiaries are remeasured into U.S. dollars at the exchange rates in effect at the reporting date, non-monetary assets and liabilities are re-measured at historical rates, and revenue and expenses are re-measured at average exchange rates in effect during each reporting period. Foreign currency transaction gains and losses are recognized in other income (expense), net within the consolidated statements of operations.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, the Company determines deferred tax assets and liabilities on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are recognized to the extent that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it is able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company records an adjustment to the deferred tax asset valuation allowance, which reduces the provision for income taxes. Tax benefits from uncertain tax positions are recognized only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the Company’s consolidated financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized. Interest and penalties are recognized associated with tax matters as part of the income tax provision and include accrued interest and penalties with the related income tax liability on the Company’s consolidated balance sheets.
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. The Company considers all series of its redeemable convertible preferred stock to be participating securities. Under the two-class method, the net loss attributable to common stockholders is not allocated to the redeemable convertible preferred stock as the holders of its redeemable convertible preferred stock do not have a contractual obligation to share in the Company’s losses. Net income is attributed to common stockholders and participating securities based on their participation rights. Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share attributable to common stockholders adjusts basic earnings per share for the potentially dilutive impact of stock options, RSUs and redeemable convertible preferred stock. As the Company has reported losses for all periods presented, all potentially dilutive securities are antidilutive and accordingly, basic net loss per share equals diluted net loss per share.
Segment Information	Segment InformationOperating segments are defined as components of an entity where discrete financial information is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assessing performance. The Company has identified its Chief Executive Officer (“CEO”) as the chief operating decision maker (“CODM”). The Company operates in one operating segment. The Company’s CODM allocates resources and assesses performance at the consolidated level.
Contribution Accounting	Contribution AccountingThe Company entered into an agreement establishing the C3.ai Digital Transformation Institute (“C3.ai DTI”), a program established to attract the world’s leading scientists to join in a coordinated and innovative effort to advance the digital transformation of business, government, and society. As part of the agreement, the Company issued cash grants to C3.ai DTI which are conditional in nature and subject to execution of the program in line with specific requirements on a quarterly basis. The cash grants do not represent an exchange transaction since there is not a commensurate transfer of resources at fair value, resulting in the application of the contribution accounting model. Contributions are allocated between sales and marketing and research and development based on the estimated benefits received by the Company. The Company’s initial contribution to C3.ai DTI provided equal benefits across sales and marketing and research and development. From fiscal year 2021, the Company expected contributions to C3.ai DTI to primarily benefit its research and development efforts.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract, which requires a customer in a cloud computing arrangement that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to defer and recognize as an asset. The guidance is effective for the fiscal year beginning May 1, 2021. Early adoption is permitted. The Company adopted this guidance effective May 1, 2021 on a prospective basis, and the adoption did not have a material impact on its consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740)—Simplifying the Accounting for Income Taxes. The amendments in this update simplify various aspects of the accounting for income tax by eliminating certain exceptions to the general approach under existing accounting guidance provided by ASC 740, Income Taxes, and clarifies certain aspects of the existing guidance to promote more consistent application. The amendments in this new standard include, the elimination of exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new standard also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill and that single-member limited liability companies and similar disregarded entities that are not subject to income tax are not required to recognize an allocation of consolidated income tax expense in their separate financial statements, but could elect to do so. The guidance is effective for the Company beginning May 1, 2022. Early adoption is permitted. The Company adopted this guidance effective May 1, 2021, and the adoption did not have a material impact on its consolidated financial statements and related disclosures.

Revenue (Tables)

12 Months Ended

Apr. 30, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Revenue by Geographical Region

The following table presents revenue by geographical region (in thousands):


	Fiscal Year Ended April 30,
	2022		2021		2020
North America(1)	$	197,485	$	119,795	$	121,485
Europe, the Middle East and Africa(1)	46,251		56,030		33,086
Asia Pacific(1)	9,023		5,992		2,095
Rest of World(1)	—		1,400		—
Total revenue	$	252,759	$	183,217	$	156,666

__________________

Schedule of Deferred Revenue Balance and Changes in Deferred Revenues Balances

The following table reflects the deferred revenue balance (in thousands):


	As of April, 30
	2022		2021
Deferred revenue, current	$	48,854	$	72,263
Deferred revenue, non-current	288		2,964
Total deferred revenue	$	49,142	$	75,227

Significant changes in the deferred revenue balances during the fiscal years ended April 30, 2022 and 2021 were as follows (in thousands):


	Deferred Revenue
April 30, 2020	$	60,295
Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year	(57,542)
Increases due to invoicing prior to satisfaction of performance obligations	72,474
April 30, 2021	75,227
Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year	(71,566)
Increases due to invoicing prior to satisfaction of performance obligations	45,481
April 30, 2022	$	49,142

Fair Value Measurements (Tables)

12 Months Ended

Apr. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

The following table summarizes the types of assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):


	As of April 30, 2022								As of April 30, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	107,726	$	—	$	—	$	107,726	$	43,401	$	—	$	—	$	43,401
Commercial paper	—		142,511		—		142,511		—		—		—		—
Corporate debt securities	—		8,884		—		8,884		—		—		—		—
Certificates of deposit	—		3,000		—		3,000		—		—		—		—
Available-for-sale marketable securities:
U.S. treasury securities	—		12,763		—		12,763		—		57,998		—		57,998
Certificates of deposit	—		97,205		—		97,205		—		422,978		—		422,978
U.S. government agencies securities	—		13,890		—		13,890		—		—		—		—
Commercial paper	—		241,132		—		241,132		—		494,676		—		494,676
Corporate debt securities	—		287,729		—		287,729		—		2,368		—		2,368
Total cash equivalents and available-for-sale marketable securities	$	107,726	$	807,114	$	—	$	914,840	$	43,401	$	978,020	$	—	$	1,021,421

Investments (Tables)

12 Months Ended

Apr. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Cash Equivalents and Available-For-Sale Marketable Securities and Balance Sheet Classification

The following table summarizes the Company’s cash equivalents and available-for-sale marketable securities (in thousands):


	As of April 30, 2022								As of April 30, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	107,726	$	—	$	—	$	107,726	$	43,401	$	—	$	—	$	43,401
Commercial paper	142,511		—		—		142,511		—		—		—		—
Corporate debt securities	8,889		—		(5)		8,884		—		—		—		—
Certificates of deposit	3,000		—		—		3,000		—		—		—		—
Available-for-sale marketable securities:
U.S. treasury securities	12,764		—		(1)		12,763		57,993		5		—		57,998
Certificates of deposit	97,205		—		—		97,205		422,952		32		(6)		422,978
U.S. government agencies securities	14,113		—		(223)		13,890		—		—		—		—
Commercial paper	241,134		—		(2)		241,132		494,625		64		(13)		494,676
Corporate debt securities	289,646		20		(1,937)		287,729		2,369		—		(1)		2,368
Total cash equivalents and available-for-sale marketable securities	$	916,988	$	20	$	(2,168)	$	914,840	$	1,021,340	$	101	$	(20)	$	1,021,421

Summary of Available-For-Sale Marketable Securities by Contractual Maturity

The following table summarizes the Company’s available-for-sale marketable securities by contractual maturity (in thousands):


	As of April 30, 2022				As of April 30, 2021
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	622,517	$	620,633	$	977,939	$	978,020
After one year through five years	32,345		32,086		—		—
Total	$	654,862	$	652,719	$	977,939	$	978,020

Summary of Fair Values and Unrealized Losses of Available-For-Sale Marketable Securities In Continuous Unrealized Loss Position


	As of April 30, 2022
	Less Than 12 Months				12 Months or Greater				Total
	Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value
U.S. treasury securities	$	(1)	$	12,763	$	—	$	—	$	(1)	$	12,763
Certificates of deposit	—		—		—		—		—		—
U.S. government agencies securities	(223)		13,897		—		—		(223)		13,897
Commercial paper	(2)		2,996		—		—		(2)		2,996
Corporate debt securities	(1,678)		248,176		(259)		31,194		(1,937)		279,370
Total	$	(1,904)	$	277,832	$	(259)	$	31,194	$	(2,163)	$	309,026

Balance Sheet Details (Tables)

12 Months Ended

Apr. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Property and Equipment

Property and equipment consisted of the following at April 30, 2022 and 2021 (in thousands):


	Useful Life	As of April 30,
	(in months)	2022		2021
Leasehold improvements	*	$	8,878	$	8,658
Computer equipment	36	3,321		2,539
Office furniture and equipment	60	348		339
Capital in progress	NA	11,261		—
Total property and equipment		23,808		11,536
Less accumulated depreciation		(9,291)		(5,403)
Property and equipment, net		$	14,517	$	6,133

__________________

*Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term.

NA = Not Applicable

Schedule of Accrued Compensation and Employee Benefits

Accrued compensation and employee benefits consisted of the following at April 30, 2022 and 2021 (in thousands):


	As of April 30,
	2022		2021
Accrued bonus	$	16,078	$	12,216
Accrued vacation	3,814		3,935
Accrued payroll taxes and benefits	3,593		3,405
Accrued commission	1,440		1,863
Accrued salaries	7,298		410
Accrued compensation and employee benefits	$	32,223	$	21,829

Schedule of Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following at April 30, 2022 and 2021 (in thousands):


	As of April 30,
	2022		2021
Liability for common stock exercised prior to vesting	$	1,970	$	5,331
Commissions payable to a related party	2,510		3,413
Accrued general expenses	4,972		3,588
Operating lease liabilities, current	3,613		3,894
Other	1,809		2,092
Accrued and other current liabilities	$	14,874	$	18,318

Leases (Tables)

12 Months Ended

Apr. 30, 2022

Leases [Abstract]

Schedule of Components of Lease Costs and Supplemental Cash Flow, Balance Sheet, and Lease Terms Information

The components of total lease costs, including variable lease costs, for the fiscal years ended April 30, 2022 and 2021 were as follows (in thousands):


	Fiscal Year Ended April 30,
Lease Costs	2022		2021
Operating lease costs	$	5,587	$	3,793
Short term lease costs	1,538		1,568
Variable lease costs	1,892		1,589
Total lease costs	$	9,017	$	6,950

Supplemental cash flow information and non-cash activity related to leases was as follows (in thousands):


	Fiscal Year Ended April 30,
	2022		2021

Cash payments included in the measurement of operating lease liabilities – operating cash flows	$	4,667	$	4,031

Right-of-use assets obtained in exchange for lease obligations	$	26,529	$	—
Right-of-use assets obtained in exchange for lease obligations arising from lease modifications	$	1,572	$	—


		As of April 30,
Operating leases		2022		2021
Right-of-use assets	Other assets, non-current	$	29,010	$	5,094
Lease liabilities, current	Other current liabilities	3,613		3,894
Lease liabilities, non-current	Other long-term liabilities	26,851		1,735
Total operating lease liabilities		$	30,464	$	5,629


	As of April 30,
Operating leases	2022		2021
Weighted average remaining lease term (in years)	9.7		1.4
Weighted average discount rate	3.5	%	7.3	%

Schedule of Maturities of Operating Lease Liabilities

Future minimum payments under lease obligations at April 30, 2022 were as follows (in thousands):


	As of April 30, 2022
Fiscal 2022	$	4,097
Fiscal 2023	5,752
Fiscal 2024	5,928
Fiscal 2025	6,101
Fiscal 2026 and thereafter	47,548
Total future minimum lease payments	69,426
Less: Tenant improvement allowance	(26,782)
Less: Imputed interest	(12,180)
Total operating lease liabilities	$	30,464

Stock-Based Compensation (Tables)

12 Months Ended

Apr. 30, 2022

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of the Company’s option activity during the periods indicated was as follows:


	Options Outstanding
	Number of Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
	(in thousands)				(in thousands)
Balance as of April 30, 2020	32,877	$	3.48	8.03	$	116,962
Options granted	14,504	11.50
Options exercised	(5,799)	2.90
Options cancelled	(3,095)	5.89
Balance as of April 30, 2021	38,487	6.39		7.98	$	2,304,714
Options granted	6,327	45.41
Options exercised	(4,651)	4.61
Options cancelled	(3,825)	15.29
Balance as of April 30, 2022	36,338	$	12.44	7.34	$	165,436
Vested and exercisable as of April 30, 2022	16,300	$	5.63	6.39	$	185,103
Vested and expected to vest as of April 30, 2022(1)	36,712	$	12.44	7.34	$	167,138

(1) The number of options vested and expected to vest as of April 30, 2022 includes early exercised, unvested Class A common stock. Refer to Note 9. Stockholders’ Equity for more information.

Schedule of Valuation Assumptions

The weighted average assumptions underlying the fair value estimation are provided in the following table:


	Fiscal Year Ended April 30,
	2022		2021
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	44.1	%	43.8	%
Expected term (years)	6.4		6.3
Risk-free interest rate	1.1	%	0.4	%

Schedule of Restricted Stock Unit Activity

A summary of the Company’s RSU activities and related information is as follows:


	RSUs Outstanding
	Number of RSUs	Weighted Average Grant Date Fair Value Per Share
	(in thousands)
Unvested Balance as of April 30, 2020	—	$	—
RSUs granted	447	74.52
Unvested Balance as of April 30, 2021	447	74.52
RSUs granted	13,750	37.49
RSUs vested	(264)	52.53
RSUs forfeited	(1,824)	54.06
Unvested Balance as of April 30, 2022	12,109	$	36.04

Summary of Effects of Stock-Based Compensation

The following table summarizes the effects of stock-based compensation on the Company’s consolidated statements of operations (in thousands):


	Fiscal Year Ended April 30,
	2022		2021		2020
Cost of subscription	$	8,638	$	828	$	370
Cost of professional services	2,710		376		122
Sales and marketing	40,344		9,080		3,074
Research and development	39,200		2,950		1,223
General and administrative	22,549		8,506		3,521
Total stock-based compensation expense	$	113,441	$	21,740	$	8,310

Income Taxes (Tables)

12 Months Ended

Apr. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Net Loss Before Income Taxes

The components of the Company’s net loss before provision for income taxes for the fiscal years ended April 30, 2022, 2021 and 2020 was as follows (in thousands):


	Fiscal Year Ended April 30,
	2022		2021		2020
Domestic	$	(189,891)	$	(58,407)	$	(69,887)
Foreign	(1,385)		3,415		889
Net loss before provision for income taxes	$	(191,276)	$	(54,992)	$	(68,998)

Schedule of Provision for Income Tax Expenses

The components of the Company’s provision for income taxes for the fiscal years ended April 30, 2022, 2021 and 2020 was as follows (in thousands):


	Fiscal Year Ended April 30,
	2022		2021		2020
Current expense
Federal	$	—	$	—	$	—
State	310		286		113
Foreign	479		418		267
Total	789		704		380
Deferred expense
Federal	—		—		—
State	—		—		—
Foreign	—		—		—
Total	—		—		—
Total provision for income taxes	$	789	$	704	$	380

Schedule of Federal Statutory Rate to Effective Tax Rate Reconciliation

The reconciliation of U.S. federal statutory rate to the Company’s effective tax rate was follows (in thousands):


	Fiscal Year Ended April 30,
	2022		2021		2020
Expected benefit at federal statutory rate	$	(40,119)	$	(11,628)	$	(14,489)
State tax expense—net of federal benefit	310		286		113
Impact of foreign operations	770		(299)		85
Federal research and development credit	(1,109)		(694)		(530)
Change in valuation allowance	59,450		30,587		14,837
Stock-based compensation	(19,152)		(17,667)		(23)
Meals and entertainment	50		35		242
Other permanent items	589		84		145
Total provision for income taxes	$	789	$	704	$	380

Schedule of Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities as of April 30, 2022 and 2021 was as follows (in thousands):


	As of April 30,
	2022		2021
Deferred tax assets
Accrued payroll	$	521	$	889
Other accruals & reserves	6,185		4,053
Operating lease liability	6,957		1,323
Deferred revenue	442		1,258
Depreciation	2,099		1,588
Net operating losses	114,291		73,189
R&D tax credit	6,618		4,778
Stock based compensation	15,669		3,690
Other	905		327
Gross deferred tax assets	153,687		91,095
Valuation allowance	(144,678)		(88,015)
Total deferred tax assets	9,009		3,080
Deferred tax liabilities
Prepaid expenses	(2,384)		(1,883)
Operating lease right-of-use assets	(6,625)		(1,197)
Total deferred tax liabilities	(9,009)		(3,080)
Net deferred tax assets (liabilities)	$	—	$	—

Schedule of Unrecognized Tax Benefits Reconciliation

A reconciliation of the beginning and ending amount of the Company’s total gross unrecognized tax benefits was as follows (in thousands):


	As of April 30,
	2022		2021
Balance as of May 1	$	5,333	$	4,048

Increases for tax positions related to the current year	2,035		1,285
Balance as of April 30	$	7,368	$	5,333

Net Loss Per Share Attributable to Common Stockholders (Tables)

12 Months Ended

Apr. 30, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):


	Fiscal Year Ended April 30,
	2022		2021		2020
Numerator
Net loss attributable to common stockholders	$	(192,065)	$	(55,696)	$	(69,378)
Denominator
Basic and diluted weighted-average Class A common shares outstanding	100,904		56,678		29,133
Basic and diluted weighted-average Class A-1 common shares outstanding	—		6,667		6,667
Basic and diluted weighted-average Class B common shares outstanding	3,500		3,500		—
Basic and diluted net loss per share attributable to common stockholders
Basic and diluted net loss per Class A common shares outstanding	$	(1.84)	$	(0.90)	$	(1.94)
Basic and diluted net loss per Class A-1 common shares outstanding	$	—	$	(0.55)	$	(1.94)
Basic and diluted net loss per Class B common shares outstanding	$	(1.84)	$	(0.35)	$	—

Schedule of Potential Shares of Common Stock Excluded from Computation of Diluted Net Loss Per Share

Based on the amounts outstanding at April 30, 2022, 2021 and 2020, the potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the period presented because including them would have had an antidilutive effect were as follows:


	Fiscal Year Ended April 30,
	2022	2021	2020
Convertible preferred stock
Series A*	—	—	3,499,992
Series B*	—	—	4,559,999
Series B-1A*	—	—	2,430,635
Series B-1B*	—	—	92,769
Series C*	—	—	2,779,738
Series D	—	—	12,278,422
Series E	—	—	540,003
Series F	—	—	5,399,581
Series G	—	—	3,893,701
Series H	—	—	1,653,928
Stock options	36,711,820	39,577,809	33,533,380
RSUs	12,109,114	447,095	—

Related Party Transactions (Tables)

12 Months Ended

Apr. 30, 2022

Schedule of Revenues Recognized and Remaining Performance Obligations For Related Party Transactions

Revenues recognized under the arrangement were as follows (in thousands):


	Fiscal Year Ended April 30,
	2022		2021		2020
Direct subscription	$	60,425	$	30,557	$	40,425
Direct professional services	16,872		4,825		292
Total revenue from direct subscription and professional services	77,297		35,382		40,717
Total revenue from certain customers in Oil and Gas field related to the Baker Hughes arrangement	27,732		20,491		5,929
Total revenue related to the arrangement	$	105,029	$	55,873	$	46,646

The remaining performance obligations related to Baker Hughes, which includes both direct subscriptions and reseller arrangements, is comprised of (in thousands):


	As of April 30,
	2022		2021
Deferred revenue	$	2,337	$	8,487
Commitments from non-cancellable contracts	212,934		95,542
Total remaining performance obligations	$	215,271	$	104,029

Summary of Business and Significant Accounting Policies (Details)	1 Months Ended		12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares shares	Nov. 30, 2020 shares	Apr. 30, 2022 USD ($) segment shares	Apr. 30, 2021 USD ($) shares	Apr. 30, 2020 USD ($)
Subsidiary, Sale of Stock [Line Items]
Reverse stock split ratio, common stock		0.1667
Deferred offering costs reclassified into stockholders' equity as a reduction of the IPO proceeds	$ 7,200,000
Restricted cash			$ 12,600,000	$ 900,000
Allowance for doubtful accounts			200,000	800,000
Unbilled receivables			19,900,000	3,800,000
Long-lived assets, impairment			0	0
Goodwill, impairment			$ 0	0
Deferred costs, sales commissions, amortization period (in years)			5 years
Accrued liabilities, warranties			$ 0
Capitalized software costs			3,000,000	0	$ 0
Amortized capitalized software costs			700,000
Advertising expenses			51,900,000	35,300,000	29,200,000
401(k) matching contributions			$ 0	0	0
Number of operating segments \| segment			1
Minimum
Subsidiary, Sale of Stock [Line Items]
Property and equipment, useful life (in years)			3 years
Minimum \| Trials
Subsidiary, Sale of Stock [Line Items]
Revenue, performance obligation timing (in weeks)			8 weeks
Maximum
Subsidiary, Sale of Stock [Line Items]
Property and equipment, useful life (in years)			5 years
Maximum \| Trials
Subsidiary, Sale of Stock [Line Items]
Revenue, performance obligation timing (in weeks)			16 weeks
Sales and marketing \| C3.ai DTI Grants Program
Subsidiary, Sale of Stock [Line Items]
Contribution expense			$ 0	0	5,700,000
Research and development \| C3.ai DTI Grants Program
Subsidiary, Sale of Stock [Line Items]
Contribution expense			$ 11,500,000	$ 2,700,000	$ 5,700,000
IPO
Subsidiary, Sale of Stock [Line Items]
Net proceeds received	694,600,000
Private Placement
Subsidiary, Sale of Stock [Line Items]
Net proceeds received	$ 150,000,000
Class A Common Stock
Subsidiary, Sale of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares		390,000,000	1,000,000,000	1,000,000,000
Class A Common Stock \| IPO
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued (in shares) \| shares	17,825,000
Sale of stock, shares issued, price per share (in dollars per share) \| $ / shares	$ 42.00
Class A Common Stock \| Over-Allotment Option
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued (in shares) \| shares	2,325,000
Class A Common Stock \| Private Placement
Subsidiary, Sale of Stock [Line Items]
Sale of stock, shares issued, price per share (in dollars per share) \| $ / shares	$ 42.00
Class A Common Stock \| Private Placement \| Spring Creek Capital LLC
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued (in shares) \| shares	2,380,952
Class A Common Stock \| Private Placement \| Microsoft Corporation
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued (in shares) \| shares	1,190,476
Redeemable Convertible Class A-1 Common Stock
Subsidiary, Sale of Stock [Line Items]
Shares authorized (in shares) \| shares		6,666,667
Conversion of stock, converted (in shares) \| shares	6,666,665
Conversion ratio	1
Class B Common Stock
Subsidiary, Sale of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares		21,000,000	3,500,000	3,500,000
Preferred Stock
Subsidiary, Sale of Stock [Line Items]
Shares authorized (in shares) \| shares		233,107,379
Redeemable Convertible Preferred Stock, Excluding Series A Preferred Stock
Subsidiary, Sale of Stock [Line Items]
Conversion of stock, converted (in shares) \| shares	33,628,776
Conversion ratio	1
Series A Redeemable Convertible Preferred Stock
Subsidiary, Sale of Stock [Line Items]
Conversion of stock, converted (in shares) \| shares	3,499,992
Conversion ratio	1

Revenue - Disaggregated Revenue by Geographic Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 252,759	$ 183,217	$ 156,666
North America
Disaggregation of Revenue [Line Items]
Total revenue	197,485	119,795	121,485
Europe, the Middle East and Africa
Disaggregation of Revenue [Line Items]
Total revenue	46,251	56,030	33,086
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	9,023	5,992	2,095
Rest of World
Disaggregation of Revenue [Line Items]
Total revenue	$ 0	$ 1,400	$ 0
United States \| Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Geographic concentration risk, percentage	78.00%	65.00%	78.00%
France \| Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Geographic concentration risk, percentage		12.00%	10.50%
Netherlands \| Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Geographic concentration risk, percentage		12.00%

Revenue - Deferred Revenue Balance (Details) - USD ($)
$ in Thousands

Apr. 30, 2022

Apr. 30, 2021

Apr. 30, 2020

Revenue from Contract with Customer [Abstract]

Deferred revenue, non-current

^[1]

$ 48,854

$ 72,263

288

2,964

Total deferred revenue

$ 49,142

$ 75,227

$ 60,295

[1]	Including amounts from a related party of $132 and $7,697 as of April 30, 2022 and 2021, respectively.

Revenue - Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Change In Contract With Customer, Liability [Roll Forward]
Beginning Balance	$ 75,227	$ 60,295
Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year	(71,566)	(57,542)
Increases due to invoicing prior to satisfaction of performance obligations	45,481	72,474
Ending Balance	$ 49,142	$ 75,227

Revenue - Remaining Performance Obligation (Details) $ in Millions	Apr. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations, amount	$ 477.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations, amount	$ 169.7
Revenue expected to be recognized from remaining performance obligations, period (in months)	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations, period (in months)

Revenue - Costs to Obtain or Fulfill a Contract (Details) - USD ($)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Disaggregation of Revenue [Line Items]
Costs to obtain and fulfill a contract, expense	$ 5,100,000	$ 1,200,000	$ 1,000,000
Costs to obtain and fulfill a contract, impairment loss	0	0	$ 0
Prepaid Expenses and Other Current Assets
Disaggregation of Revenue [Line Items]
Costs to obtain and fulfill a contract	5,700,000	3,200,000
Other Assets
Disaggregation of Revenue [Line Items]
Costs to obtain and fulfill a contract	$ 18,200,000	$ 9,100,000

Revenue - Customer Concentration (Details) - Customer Concentration Risk	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Revenue \| Customer One
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	31.00%	19.00%	26.00%
Revenue \| Customer Two
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage		12.00%	10.00%
Accounts Receivable \| Customer One
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	32.00%	18.00%
Accounts Receivable \| Customer Two
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	13.00%	14.00%
Accounts Receivable \| Customer Three
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	12.00%	14.00%
Accounts Receivable \| Customer Four
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage		11.00%

Investments - Cash Equivalents and Available-for-Sale Marketable Securities (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Cash equivalents:
Amortized Cost	$ 339,528	$ 115,355	$ 33,104
Available-for-sale marketable securities:
Total cash equivalents and available-for-sale marketable securities, Amortized Cost	916,988	1,021,340
Total cash equivalents and available-for-sale marketable securities, Gross Unrealized Gain	20	101
Total cash equivalents and available-for-sale marketable securities, Gross Unrealized Loss	(2,168)	(20)
Total cash equivalents and available-for-sale marketable securities	914,840	1,021,421
Money market funds
Cash equivalents:
Amortized Cost	107,726	43,401
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	107,726	43,401
U.S. treasury securities
Available-for-sale marketable securities:
Amortized Cost	12,764	57,993
Gross Unrealized Gains	0	5
Gross Unrealized Losses	(1)	0
Estimated Fair Value	12,763	57,998
Commercial paper
Cash equivalents:
Amortized Cost	142,511	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	142,511	0
Available-for-sale marketable securities:
Amortized Cost	241,134	494,625
Gross Unrealized Gains	0	64
Gross Unrealized Losses	(2)	(13)
Estimated Fair Value	241,132	494,676
Corporate debt securities
Cash equivalents:
Amortized Cost	8,889	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(5)	0
Estimated Fair Value	8,884	0
Available-for-sale marketable securities:
Amortized Cost	289,646	2,369
Gross Unrealized Gains	20	0
Gross Unrealized Losses	(1,937)	(1)
Estimated Fair Value	287,729	2,368
Certificates of deposit
Cash equivalents:
Amortized Cost	3,000	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	3,000	0
Available-for-sale marketable securities:
Amortized Cost	97,205	422,952
Gross Unrealized Gains	0	32
Gross Unrealized Losses	0	(6)
Estimated Fair Value	97,205	422,978
U.S. government agencies securities
Available-for-sale marketable securities:
Amortized Cost	14,113	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(223)	0
Estimated Fair Value	$ 13,890	$ 0

Investments - Available-for Sale Marketable Securities by Contractual Maturity (Details) - Debt Securities, Available-For-Sale, Excluding Money Market Accounts - USD ($) $ in Thousands	Apr. 30, 2022	Apr. 30, 2021
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract]
AFS Marketable Securities Maturities, Within one year, Amortized Cost	$ 622,517	$ 977,939
AFS Marketable Securities Maturities, After one year through five years, Amortized Cost	32,345	0
Amortized Cost	654,862	977,939
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]
AFS Marketable Securities Maturities, Within one year, Fair Value	620,633	978,020
AFS Marketable Securities Maturities, After one year through five years, Fair Value	32,086	0
AFS Marketable Securities Maturities, Total Fair Value	$ 652,719	$ 978,020

Investments - Summary of Fair Values and Unrealized Losses of Available-For-Sale Marketable Securities In Continuous Unrealized Loss Position (Details) $ in Thousands	Apr. 30, 2022 USD ($)
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	$ (1,904)
AFS, Less Than 12 Months, Fair Value	277,832
AFS, 12 Months or Greater, Unrealized Losses	(259)
AFS, 12 Months or Greater, Fair Value	31,194
AFS, Total Unrealized Losses	(2,163)
AFS, Total Fair Value	309,026
U.S. treasury securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	(1)
AFS, Less Than 12 Months, Fair Value	12,763
AFS, 12 Months or Greater, Unrealized Losses	0
AFS, 12 Months or Greater, Fair Value	0
AFS, Total Unrealized Losses	(1)
AFS, Total Fair Value	12,763
Certificates of deposit
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	0
AFS, Less Than 12 Months, Fair Value	0
AFS, 12 Months or Greater, Unrealized Losses	0
AFS, 12 Months or Greater, Fair Value	0
AFS, Total Unrealized Losses	0
AFS, Total Fair Value	0
U.S. government agencies securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	(223)
AFS, Less Than 12 Months, Fair Value	13,897
AFS, 12 Months or Greater, Unrealized Losses	0
AFS, 12 Months or Greater, Fair Value	0
AFS, Total Unrealized Losses	(223)
AFS, Total Fair Value	13,897
Commercial paper
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	(2)
AFS, Less Than 12 Months, Fair Value	2,996
AFS, 12 Months or Greater, Unrealized Losses	0
AFS, 12 Months or Greater, Fair Value	0
AFS, Total Unrealized Losses	(2)
AFS, Total Fair Value	2,996
Corporate debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	(1,678)
AFS, Less Than 12 Months, Fair Value	248,176
AFS, 12 Months or Greater, Unrealized Losses	(259)
AFS, 12 Months or Greater, Fair Value	31,194
AFS, Total Unrealized Losses	(1,937)
AFS, Total Fair Value	$ 279,370

Investments - Narrative (Details)	1 Months Ended	12 Months Ended
Investments - Narrative (Details)	Nov. 30, 2020 USD ($)	Apr. 30, 2022 USD ($) investment	Apr. 30, 2021 USD ($) investment	Apr. 30, 2020 USD ($) investment
Investments, Debt and Equity Securities [Abstract]
Number of investment positions in unrealized loss position \| investment		284	8
Number of investments, other-than-temporary impaired \| investment		0	0	0
Other-than-temporary impairment loss		$ 0
Non-marketable equity securities, cost		0	$ 0	$ 700,000
Non-marketable equity securities, impairment		0	0	1,025,000
Non-marketable equity securities, proceeds from sale	$ 700,000	$ 0	$ 725,000	$ 0

Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 23,808	$ 11,536
Less accumulated depreciation	(9,291)	(5,403)
Property and equipment, net	14,517	6,133
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 8,878	8,658
Computer equipment
Property, Plant and Equipment [Line Items]
Useful Life (in months)	36 months
Total property and equipment	$ 3,321	2,539
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Useful Life (in months)	60 months
Total property and equipment	$ 348	339
Capital in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 11,261	$ 0

Balance Sheet Details - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation and amortization expense, related to property and equipment	$ 4.4	$ 4.0	$ 1.2

Balance Sheet Details - Accrued Compensation and Employee Benefits (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Apr. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued bonus	$ 16,078	$ 12,216
Accrued vacation	3,814	3,935
Accrued payroll taxes and benefits	3,593	3,405
Accrued commission	1,440	1,863
Accrued salaries	7,298	410
Accrued compensation and employee benefits	$ 32,223	$ 21,829

Balance Sheet Details - Accrued and Other Current Liabilities (Details) - USD ($)
$ in Thousands

Apr. 30, 2022

Apr. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Liability for common stock exercised prior to vesting

$ 1,970

$ 5,331

Commissions payable to a related party

2,510

3,413

Accrued general expenses

4,972

3,588

Operating lease liabilities, current

3,613

3,894

Other

1,809

2,092

Accrued and other current liabilities

^[1]

$ 14,874

$ 18,318

[1]	Including amounts from a related party of $2,510 and $3,413 as of April 30, 2022 and 2021, respectively.

Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).

Balance Sheet Details - Narrative, Cares Act Loan (Details) - Paycheck Protection Program, CARES Act - USD ($) $ in Millions	Aug. 18, 2020	May 01, 2020
Short-term Debt [Line Items]
Loan proceeds, promissory note		$ 6.3
Repayment of loan, promissory note, interest	$ 0.1
Repayment of loan, promissory note	$ 6.4

Leases - Narrative (Details) $ in Thousands	Aug. 25, 2021 USD ($) ft² phase	Apr. 30, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Area under lease (in square feet) \| ft²	283,015
Total undiscounted base rent payments over term of lease	$ 103,100	$ 12,180
Term of rent abatement per phase, following rent commencement date (in months)	6 months
Monthly base rent	$ 500
Tenant improvement allowance	$ 44,200
Lease term (in months)	126 months
Period after date phase one delivered (in months)	9 months
Number of phases \| phase	2
Landlord \| Letter of Credit \| Line of Credit
Lessee, Lease, Description [Line Items]
Letter of credit outstanding	$ 12,600
Maximum
Lessee, Lease, Description [Line Items]
Monthly base rent	$ 1,000

Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Leases [Abstract]
Operating lease costs	$ 5,587	$ 3,793
Short term lease costs	1,538	1,568
Variable lease costs	1,892	1,589
Total lease costs	$ 9,017	$ 6,950

Leases -Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Cash paid for amounts included in the measurement of operating lease liabilities:
Cash payments included in the measurement of operating lease liabilities – operating cash flows	$ 4,667	$ 4,031
Right-of-use assets obtained in exchange for lease obligations	26,529	0	$ 0
Right-of-use assets obtained in exchange for lease obligations arising from lease modifications	$ 1,572	$ 0	$ 0

Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Apr. 30, 2021
Operating leases
Right-of-use assets	$ 29,010	$ 5,094
Lease liabilities, current	3,613	3,894
Lease liabilities, non-current	26,851	1,735
Total operating lease liabilities	$ 30,464	$ 5,629
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets, non-current	Other assets, non-current
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued and other current liabilities	Accrued and other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities

Leases - Term and Discount Rate Information (Details)	Apr. 30, 2022	Apr. 30, 2021
Operating leases
Weighted average remaining lease term (in years)	9 years 8 months 12 days	1 year 4 months 24 days
Weighted average discount rate	3.50%	7.30%

Leases - Future Minimum Payments and Lease Obligations (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Aug. 25, 2021	Apr. 30, 2021
Leases [Abstract]
Fiscal 2022	$ 4,097
Fiscal 2023	5,752
Fiscal 2024	5,928
Fiscal 2025	6,101
Fiscal 2026 and thereafter	47,548
Total future minimum lease payments	69,426
Less: Tenant improvement allowance	(26,782)
Less: Imputed interest	(12,180)	$ (103,100)
Total operating lease liabilities	$ 30,464		$ 5,629

Commitment and Contingencies (Details) - USD ($)			1 Months Ended		12 Months Ended
Commitment and Contingencies (Details) - USD ($)	Dec. 06, 2021	Aug. 10, 2021	Feb. 29, 2020	Nov. 30, 2019	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Long-term Purchase Commitment [Line Items]
Purchase commitment, incurred cost					$ 13,900,000	$ 14,300,000	$ 4,400,000
Blattman et al. v. Siebel et al. \| Pending Litigation
Long-term Purchase Commitment [Line Items]
Recommended amount to be awarded from other party		$ 9,700,000
Amount to be award from other party requested by plaintiff		$ 8,300,000
Blattman et al. v. Siebel et al. \| Settled Litigation
Long-term Purchase Commitment [Line Items]
Amount awarded from other party	$ 9,400,000
Blattman et al. v. Siebel et al. \| Settled Litigation \| Other Nonoperating Income (Expense)
Long-term Purchase Commitment [Line Items]
Amount awarded from other party					9,400,000
C3.ai DTI Grants Program
Long-term Purchase Commitment [Line Items]
Grants, payment period (in years)			5 years
Grants, potential remaining contributions					$ 31,600,000	$ 43,100,000
Web-Hosting Services, November 2019-November 2022
Long-term Purchase Commitment [Line Items]
Purchase commitment				$ 30,000,000
Purchase commitment, term (in years)				3 years
Web-Hosting Services, November 2020
Long-term Purchase Commitment [Line Items]
Purchase commitment				$ 10,000,000
Web-Hosting Services, November 2021
Long-term Purchase Commitment [Line Items]
Purchase commitment				10,000,000
Web-Hosting Services, November 2022
Long-term Purchase Commitment [Line Items]
Purchase commitment				$ 10,000,000

Redeemable Convertible Preferred Stock and Redeemable Convertible A-1 Common Stock (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2020 USD ($) shares	Apr. 30, 2021 USD ($) shares	Apr. 30, 2022 shares	Apr. 30, 2020 shares	Apr. 30, 2019 shares
Redeemable Convertible Preferred Stock, Excluding Series A Preferred Stock
Temporary Equity [Line Items]
Conversion of stock, converted (in shares)	33,628,776
Conversion ratio	1
Series A Redeemable Convertible Preferred Stock
Temporary Equity [Line Items]
Conversion of stock, converted (in shares)	3,499,992
Conversion ratio	1
Redeemable Convertible Preferred Stock
Temporary Equity [Line Items]
Carrying value reclassified into stockholders' equity \| $	$ 399,800	$ 399,753
Shares issued (in shares)		0	0
Shares outstanding (in shares)		0	0	37,129,000	34,192,000
Redeemable Convertible Common Class A-1 Stock
Temporary Equity [Line Items]
Conversion of stock, converted (in shares)	6,666,665
Conversion ratio	1
Carrying value reclassified into stockholders' equity \| $	$ 18,800	$ 18,800
Shares issued (in shares)		0	0
Shares outstanding (in shares)		0	0	6,667,000	6,667,000

Stockholders' Equity (Details) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Mar. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)	Apr. 30, 2022 USD ($) vote $ / shares shares	Apr. 30, 2021 USD ($) $ / shares shares	Apr. 30, 2020 USD ($)	Nov. 30, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, shares authorized (in shares)			200,000,000
Preferred stock, par value (in dollars per share) \| $ / shares			$ 0.001
Preferred stock, shares issued (in shares)			0
Preferred stock, shares outstanding (in shares)			0
Automatic conversion period, following the death or incapacity of Mr. Siebel (in months)			6 months
Automatic conversion period, following the date Mr. Siebel no longer providing services (in months)			6 months
Automatic conversion, anniversary period, if circumstances met (in years)			20 years
Net proceeds common stock exercised prior to vesting \| $			$ 0	$ 6,000	$ 1,900
Liability for common stock exercised prior to vesting \| $			1,970	$ 5,331
Stock repurchase program, value of repurchase \| $			$ 15,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares subject to repurchase right (in shares)			373,790	1,091,306
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)			1,000,000,000	1,000,000,000		390,000,000
Voting rights, number of votes for each share \| vote			1
Common stock, par value (in dollars per share) \| $ / shares			$ 0.001	$ 0.001
Stock repurchase program, authorized amount (up to) \| $		$ 100,000
Stock repurchase program, repurchase period (in months)		18 months
Stock repurchase program, shares repurchased and retired (in shares)	700,000
Stock repurchase program, value of repurchase \| $	$ 15,000
Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)			3,500,000	3,500,000		21,000,000
Voting rights, number of votes for each share \| vote			50
Common stock, par value (in dollars per share) \| $ / shares			$ 0.001	$ 0.001

Stock-Based Compensation - Narrative (Details) - USD ($)	1 Months Ended		7 Months Ended	12 Months Ended
	Sep. 30, 2020	Jan. 31, 2018	Dec. 10, 2020	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020	Nov. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value for options granted (in dollars per share)				$ 19.15	$ 6.17	$ 2.22
Stock options exercised, total intrinsic value				$ 187,300,000	$ 137,300,000	$ 4,200,000
Stock options vested, total grant date fair value				35,300,000	15,000,000.0	6,800,000
Stock-based compensation expense				113,441,000	21,740,000	$ 8,310,000
Chief Executive Officer (CEO)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Notes receivable		$ 24,500,000
Proceeds from notes receivable payment	$ 26,000,000
Chief Executive Officer (CEO) \| Notes Receivable
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Interest income	$ 0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost				$ 151,000,000.0	$ 97,800,000
Unrecognized compensation cost, weighted-average recognition period (in years)				3 years 3 months 18 days	3 years 9 months 18 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, weighted-average recognition period (in years)				3 years 6 months	4 years 9 months 18 days
Granted, non-option (in shares)			0	13,750,000	447,000
Vesting period (in years)				5 years
Stock-based compensation expense				$ 72,900,000
Unrecognized stock-based compensation expense, non-options				$ 375,600,000	$ 32,200,000
RSUs \| Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				1 year
Vesting percentages				20.00%
RSUs \| Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentages				4.00%
2020 Incentive Plan \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period (in years)				10 years
2020 Incentive Plan \| Stock options \| Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				1 year
Vesting percentages				20.00%
2020 Incentive Plan \| Stock options \| Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)				4 years
Vesting percentages				2.00%
2020 Employee Stock Purchase Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of employee earnings participation (not exceeding)							15.00%
Class A Common Stock \| 2020 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)				16,232,017
Class A Common Stock \| 2020 Employee Stock Purchase Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)							3,000,000
Series F Preferred Stock \| Chief Executive Officer (CEO)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued during period (in shares)		1,251,921

Share-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Number of Stock Options Outstanding
Balance at beginning of period (in shares)	38,487	32,877
Options granted (in shares)	6,327	14,504
Options exercised (in shares)	(4,651)	(5,799)
Options cancelled (in shares)	(3,825)	(3,095)
Balance at end of period (in shares)	36,338	38,487	32,877
Vested and exercisable at end of period (in shares)	16,300
Vested and expected to vest at end of period (in shares)	36,712
Weighted Average Exercise Price
Balance at beginning of period (in dollars per share)	$ 6.39	$ 3.48
Options granted (in dollars per share)	45.41	11.50
Options exercised (in dollars per share)	4.61	2.90
Options cancelled (in dollars per share)	15.29	5.89
Balance at end of period (in dollars per share)	12.44	$ 6.39	$ 3.48
Vested and exercisable at end of period (in dollars per share)	5.63
Vested and expected to vest at end of period (in dollars per share)	$ 12.44
Weighted Average Remaining Contractual Life (years)
Balance at beginning of period (in years)	7 years 4 months 2 days	7 years 11 months 23 days	8 years 10 days
Balance at end of period (in years)	7 years 4 months 2 days	7 years 11 months 23 days	8 years 10 days
Vested and exercisable at end of period (in years)	6 years 4 months 20 days
Vested and expected to vest at end of period (in years)	7 years 4 months 2 days
Aggregate Intrinsic Value
Balance at beginning of period	$ 165,436	$ 2,304,714	$ 116,962
Balance at end of period	165,436	$ 2,304,714	$ 116,962
Vested and exercisable at end of period	185,103
Vested and expected to vest at end of period	$ 167,138

Stock-Based Compensation - Valuation Assumptions (Details)	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Valuation assumptions:
Expected dividend yield	0.00%	0.00%
Expected volatility	44.10%	43.80%
Expected term (years)	6 years 4 months 24 days	6 years 3 months 18 days
Risk-free interest rate	1.10%	0.40%

Stock-Based Compensation - Restricted Stock Unit Activity (Details) - RSUs - $ / shares	7 Months Ended	12 Months Ended
	Dec. 10, 2020	Apr. 30, 2022	Apr. 30, 2021
Number of RSUs
Unvested Balance at beginning of period (in shares)	0	447,000	0
RSUs granted (in shares)	0	13,750,000	447,000
RSUs vested (in shares)		(264,000)
RSUs forfeited (in shares)		(1,824,000)
Unvested Balance at end of period (in shares)		12,109,000	447,000
Weighted Average Grant Date Fair Value Per Share
Unvested Balance at beginning of period (in dollars per share)	$ 0	$ 74.52	$ 0
RSUs granted (in dollars per share)		37.49	74.52
RSUs vested (in dollars per share)		52.53
RSUs forfeited (in dollars per share)		54.06
Unvested Balance at end of period (in dollars per share)		$ 36.04	$ 74.52

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 113,441	$ 21,740	$ 8,310
Cost of revenue \| Cost of subscription
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	8,638	828	370
Cost of revenue \| Cost of professional services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	2,710	376	122
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	40,344	9,080	3,074
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	39,200	2,950	1,223
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 22,549	$ 8,506	$ 3,521

Income Taxes - Components of Net Loss, Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Income Tax Disclosure [Abstract]
Domestic	$ (189,891)	$ (58,407)	$ (69,887)
Foreign	(1,385)	3,415	889
Net loss before provision for income taxes	$ (191,276)	$ (54,992)	$ (68,998)

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Deferred costs, sales commissions, amortization period (in years)

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Current expense
Federal	$ 0	$ 0	$ 0
State	310	286	113
Foreign	479	418	267
Total	789	704	380
Deferred expense
Federal	0	0	0
State	0	0	0
Foreign	0	0	0
Total	0	0	0
Provision for income taxes	$ 789	$ 704	$ 380

Income Taxes - Effective Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Income Tax Disclosure [Abstract]
Expected benefit at federal statutory rate	$ (40,119)	$ (11,628)	$ (14,489)
State tax expense—net of federal benefit	310	286	113
Impact of foreign operations	770	(299)	85
Federal research and development credit	(1,109)	(694)	(530)
Change in valuation allowance	59,450	30,587	14,837
Stock-based compensation	(19,152)	(17,667)	(23)
Meals and entertainment	50	35	242
Other permanent items	589	84	145
Provision for income taxes	$ 789	$ 704	$ 380

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Apr. 30, 2021
Deferred tax assets
Accrued payroll	$ 521	$ 889
Other accruals & reserves	6,185	4,053
Operating lease liability	6,957	1,323
Deferred revenue	442	1,258
Depreciation	2,099	1,588
Net operating losses	114,291	73,189
R&D tax credit	6,618	4,778
Stock based compensation	15,669	3,690
Other	905	327
Gross deferred tax assets	153,687	91,095
Valuation allowance	(144,678)	(88,015)
Total deferred tax assets	9,009	3,080
Deferred tax liabilities
Prepaid expenses	(2,384)	(1,883)
Operating lease right-of-use assets	(6,625)	(1,197)
Total deferred tax liabilities	(9,009)	(3,080)
Net deferred tax assets (liabilities)	$ 0	$ 0

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Apr. 30, 2022	Apr. 30, 2021
Tax Credit Carryforward [Line Items]
Deferred tax assets, valuation allowance	$ 144,678,000	$ 88,015,000
Deferred tax assets, increase in valuation allowance	56,700,000
Unrecognized tax benefits, if recognized, would impact effective income tax rate	0
Unrecognized tax benefits, cumulative interest and penalties	0	0
Unrecognized tax benefits, anticipated significant change over the next 12 months	0
Federal
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	486,200,000	308,300,000
Tax credit carryforwards, subject to expiration	1,000,000.0
Federal \| Research Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	7,600,000
Federal \| Charitable Contribution Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	25,700,000
State
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	180,400,000	$ 139,700,000
Tax credit carryforwards, subject to expiration	400,000
State \| Research Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 7,100,000

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance as of May 1	$ 5,333	$ 4,048
Increases for tax positions related to the current year	2,035	1,285
Balance as of April 30	$ 7,368	$ 5,333

Net Loss Per Share Attributable to Common Stockholders - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Numerator
Net loss attributable to common stockholders	$ (192,065)	$ (55,696)	$ (69,378)
Class A Common Stock
Denominator
Basic weighted-average common shares outstanding (in shares)	100,904	56,678	29,133
Diluted weighted-average common shares outstanding (in shares)	100,904	56,678	29,133
Basic and diluted net loss per share attributable to common stockholders
Basic net loss per common shares outstanding (in dollars per share)	$ (1.84)	$ (0.90)	$ (1.94)
Diluted net loss per common shares outstanding (in dollars per share)	$ (1.84)	$ (0.90)	$ (1.94)
Redeemable Convertible Common Class A-1 Stock
Denominator
Basic weighted-average common shares outstanding (in shares)	0	6,667	6,667
Diluted weighted-average common shares outstanding (in shares)	0	6,667	6,667
Basic and diluted net loss per share attributable to common stockholders
Basic net loss per common shares outstanding (in dollars per share)	$ 0	$ (0.55)	$ (1.94)
Diluted net loss per common shares outstanding (in dollars per share)	$ 0	$ (0.55)	$ (1.94)
Class B Common Stock
Denominator
Basic weighted-average common shares outstanding (in shares)	3,500	3,500	0
Diluted weighted-average common shares outstanding (in shares)	3,500	3,500	0
Basic and diluted net loss per share attributable to common stockholders
Basic net loss per common shares outstanding (in dollars per share)	$ (1.84)	$ (0.35)	$ 0
Diluted net loss per common shares outstanding (in dollars per share)	$ (1.84)	$ (0.35)	$ 0

Net Loss Per Share Attributable to Common Stockholders - Potential Shares Excluded From Computation of Diluted Net Loss Per Share (Details) - shares	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Series A*
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	0	0	3,499,992
Series B*
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	0	0	4,559,999
Series B-1A*
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	0	0	2,430,635
Series B-1B*
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	0	0	92,769
Series C*
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	0	0	2,779,738
Series D
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	0	0	12,278,422
Series E
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	0	0	540,003
Series F
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	0	0	5,399,581
Series G
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	0	0	3,893,701
Series H
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	0	0	1,653,928
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	36,711,820	39,577,809	33,533,380
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	12,109,114	447,095	0

Related Party Transactions (Details)
$ in Thousands

1 Months Ended

12 Months Ended

Oct. 31, 2021

USD ($)

Sep. 30, 2020

USD ($)

Jun. 30, 2020

USD ($)

Jun. 30, 2019

Jan. 31, 2018

USD ($)

renewalPeriod

Apr. 30, 2022

USD ($)

Apr. 30, 2021

USD ($)

Apr. 30, 2020

USD ($)

5 years

Accounts receivable, net, inclusive of unbilled receivables from related party

$ 35,848

$ 15,180

Accounts payable, from related party

^[1]

48,854

72,263

Sales and marketing

^[2]

173,584

96,991

$ 94,974

18,549

Costs to obtain and fulfill a contract, expense

5,100

1,200

1,000

Commissions payable to a related party

2,510

3,413

Software Subscription Agreement | Baker Hughes Company

Revenue commitment, fiscal year 2020

$ 46,700

Revenue commitment, fiscal year 2021

53,300

Revenue commitment, fiscal year 2022

75,000

Revenue commitment, fiscal year 2023

$ 85,000

125,000

Revenue commitment, fiscal year 2024

110,000

$ 150,000

Revenue commitment, fiscal year 2025

$ 125,000

Chief Executive Officer (CEO)

Notes receivable

$ 24,500

Notes receivable, term (in years)

5 years

Notes receivable, number of renewal periods | renewalPeriod

Notes receivable, renewal period (in years)

1 year

Interest rate

2.18%

Proceeds from notes receivable payment

$ 26,000

Baker Hughes Company | Software Subscription Agreement

Revenue commitment, term (in years)

6 years

5 years

3 years

Sales commissions, recognized as deferred costs

$ 16,000

8,300

Deferred costs, sales commissions, amortization period (in years)

5 years

Accounts receivable, net, inclusive of unbilled receivables from related party

$ 35,800

15,200

Costs of subscription revenue

100

7,700

600

100

Sales and marketing

8,200

100

Accounts payable, from related party

18,500

100

Deferred costs, sales commissions, prepaid expense and other current assets

4,900

1,700

Deferred costs, sales commissions, prepaid expense and other noncurrent assets

16,100

6,600

Costs to obtain and fulfill a contract, expense

3,300

$ 0

Deferred costs, sales commissions, term (in years)

3 years

Sales commissions paid

3,400

Commissions payable to a related party

2,500

3,400

Due to related parties, noncurrent

2,400

4,900

Baker Hughes Company | Software Subscription Agreement | Unbilled Revenues

Accounts receivable, net, inclusive of unbilled receivables from related party

$ 16,500

$ 2,800

Series F Preferred Stock | Chief Executive Officer (CEO)

Stock issued during period (in shares) | shares

1,251,921

[1]	Including amounts from a related party of $132 and $7,697 as of April 30, 2022 and 2021, respectively.
[2]	Including related party sales and marketing expense of $8,229, $44 and nil for the fiscal years ended April 30, 2022, 2021 and 2020, respectively.

Related Party Transactions - Revenues Recognized For Related Party Transactions (Details) - Software Subscription Agreement - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2022	Apr. 30, 2021	Apr. 30, 2020
Related Party Transaction [Line Items]
Related party revenue	$ 105,029	$ 55,873	$ 46,646
Baker Hughes Company
Related Party Transaction [Line Items]
Related party revenue	77,297	35,382	40,717
Certain Customers In Oil And Gas Field
Related Party Transaction [Line Items]
Related party revenue	27,732	20,491	5,929
Cost of subscription \| Baker Hughes Company
Related Party Transaction [Line Items]
Related party revenue	60,425	30,557	40,425
Professional services \| Baker Hughes Company
Related Party Transaction [Line Items]
Related party revenue	$ 16,872	$ 4,825	$ 292