0001628280-24-028786 | 10-K | XBRL Viewer

Leases -Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
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	$ 6,136	$ 5,250	$ 4,667
Right-of-use assets obtained in exchange for lease obligations (including remeasurement of right-of-use assets and lease liabilities due to changes in the timing of receipt of lease incentives)	1,833	(5,589)	26,529
Right-of-use assets obtained in exchange for lease obligations arising from lease modifications	$ 0	$ 3,093	$ 1,572

Cash Equivalents and Marketable Securities - Available-for Sale Marketable Securities by Contractual Maturity (Details) - Debt Securities, Available-For-Sale, Excluding Money Market Accounts - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract]
AFS Marketable Securities Maturities, Within one year, Amortized Cost	$ 514,747	$ 446,629
AFS Marketable Securities Maturities, After one year through five years, Amortized Cost	69,034	81,329
Amortized Cost	583,781	527,958
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]
AFS Marketable Securities Maturities, Within one year, Fair Value	514,484	446,155
AFS Marketable Securities Maturities, After one year through five years, Fair Value	68,736	81,418
AFS Marketable Securities Maturities, Total Fair Value	$ 583,220	$ 527,573

Related Party Transactions	12 Months Ended
Related Party Transactions	Apr. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Revenue Transactions with Baker Hughes Company In June 2019, the Company entered into multiple agreements with Baker Hughes under which Baker Hughes received a three-year subscription to use the Company’s software. This arrangement was revised in June 2020 to extend the term to five years and modify the subscription fees due. Under the agreements as revised in June 2020, Baker Hughes made minimum, non-cancellable revenue commitments, 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 fiscal year ending April 30, 2021, $75.0 million in the fiscal year ending April 30, 2022, $125.0 million in fiscal year ending April 30, 2023, and $150.0 million in 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 the minimum revenue commitments. The Company and Baker Hughes again revised this arrangement 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 simplify the sales process for Baker Hughes. Beginning in the fiscal year ended April 30, 2023, Baker Hughes’ annual commitments were 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 reduced the revenue recognized from the arrangement. The Company acknowledged that Baker Hughes had met its minimum annual revenue commitment for the fiscal year 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. The Company and Baker Hughes again revised and expanded the agreements in January 2023. Pursuant to this revised arrangement, the frequency of payments due from Baker Hughes to the Company was accelerated, Baker Hughes obtained expanded reseller rights, and the Company agreed to provide additional products and services. This results in an increase of the overall transaction price of the arrangement by eliminating potential variable consideration attributable to any revenue the Company generated from certain customers. The amount of consideration to the Company may increase if Baker Hughes exceeds certain thresholds. The Company also provided Baker Hughes the option to extend the subscription term upon payment of a renewal fee. Pursuant to the January 2023 revised agreement, the transaction price of the Baker Hughes arrangement is not impacted by revenue the Company recognizes from certain customers in the oil and gas field. Baker Hughes ceased to qualify as a related party of the Company as of June 30, 2023 and the amounts disclosed related to them are accordingly presented only for the periods in which they were considered a related party. The Company recognized subscription revenue from direct subscription fees from Baker Hughes of $10.6 million, $75.5 million, and $60.4 million during the fiscal year ended April 30, 2024, 2023 and 2022, respectively. The Company recognized professional services revenue from Baker Hughes of $5.8 million, $16.8 million and $16.9 million during the during the fiscal years ended April 30, 2024, 2023, and 2022, respectively. The Company recognized cost of subscription revenue related to services purchased from Baker Hughes to be used for third party customer of nil, nil and $0.6 million for the fiscal years ended April 30, 2024, 2023, and 2022, respectively. The Company recognized sales and marketing expenses related to Baker Hughes of $0.8 million, $14.0 million, and $8.2 million (inclusive of amortization of $0.8 million, $4.9 million and $3.3 million, respectively, of deferred commissions) for the fiscal years ended April 30, 2024, 2023, and 2022, respectively. The Company paid sales commission of nil, $16.0 million, and $3.4 million during the fiscal years ended April 30, 2024, 2023, and 2022 respectively, related to this arrangement. Sublease Arrangement On February 21, 2023, the Company entered into a sublease agreement (the “Sublease”) with First Virtual Group, Inc. (the “Subtenant”), whereby the Company agreed to sublease to the Subtenant approximately 3,130 square feet of space located in Redwood City, California (the “Subleased Space”). The Company previously entered into a lease (the “Original Lease”) with DWF IV 1400-1500 Seaport Blvd, LLC dated August 25, 2021 for approximately 283,013 square feet of office space split between two office towers, including the Subleased Space. Thomas M. Siebel, Chief Executive Officer and Chairman of the Company, serves as Chairman of the Subtenant. The term of the Sublease commenced on February 1, 2023. The Sublease was automatically renewed on October 1, 2023 and will be automatically renewed for successive one year periods thereafter unless the Subtenant notifies the Company of its election to terminate the Sublease, up to the expiration date of the Original Lease. The monthly base rent for the Sublease is equal to the rate per square foot paid by the Company as stated in the Original Lease. The monthly base rent the Subtenant pays was approximately $8,608 through September 30, 2023, increasing annually thereafter. In addition to base rent, the Subtenant is responsible for its allocated share of costs incurred and expenditures made by the Company in the operation and management of the Subleased Space.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Apr. 30, 2024

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Stockholders

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 fiscal years ended April 30, 2024, 2023 and 2022. For purposes of this calculation, stock options, RSUs, Class A common stock issuable in connection with the 2020 ESPP 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.

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,
	2024		2023		2022
Numerator
Net loss attributable to common stockholders	$	(279,696)	$	(268,839)	$	(192,065)
Denominator
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted	119,362		109,851		104,404
Basic and diluted net loss per share attributable to common stockholders
Basic and diluted net loss per Class A and Class B common shares	$	(2.34)	$	(2.45)	$	(1.84)

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 (in thousands):


	Fiscal Year Ended April 30,
	2024	2023	2022
Stock options	31,371	34,844	36,712
RSUs	19,283	21,146	12,109
ESPP	731	1,525	—

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Apr. 30, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Preferred Stock The Company has authorized 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, 2024, there were no shares of Preferred Stock issued or outstanding. Common Stock The Company has authorized 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”) and the Company’s Amended and Restated 2020 Equity Incentive Plan (the “2020 Incentive Plan”), certain 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 shares of common stock 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. There have been no net proceeds from the early exercise of such options during the fiscal years ended April 30, 2024, 2023 and 2022, respectively. The Company has recorded a current liability of $0.3 million and $0.8 million as of April 30, 2024 and 2023, respectively. The liability is reclassified into equity on a ratable basis as the stock options vest. Unvested Class A common stock of 43,188 and 148,239 shares as of April 30, 2024 and 2023, respectively were subject to such repurchase right and are legally issued and outstanding as of each period presented. See Note 9. 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 Company had not repurchased any shares of its Class A common stock under this program during the fiscal years ended April 30, 2024 and 2023. The stock repurchase program expired in June 2023.

- Definition

The entire disclosure for equity.

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+ Details

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, 2024	Apr. 30, 2023	Apr. 30, 2022
Numerator
Net loss attributable to common stockholders	$ (279,696)	$ (268,839)	$ (192,065)
Denominator
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic (in shares)	119,362	109,851	104,404
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted (in shares)	119,362	109,851	104,404
Basic and diluted net loss per share attributable to common stockholders
Basic net loss per Class A and B common shares (in dollars per share)	$ (2.34)	$ (2.45)	$ (1.84)
Diluted net loss per Class A and B common shares (in dollars per share)	$ (2.34)	$ (2.45)	$ (1.84)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

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

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+ Details

Cash Equivalents and Marketable Securities - Summary of Fair Values and Unrealized Losses of Available-For-Sale Marketable Securities In Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	$ (590)	$ (556)
AFS, Less Than 12 Months, Fair Value	237,352	145,241
AFS, 12 Months or Greater, Unrealized Losses	(40)	(57)
AFS, 12 Months or Greater, Fair Value	35,407	33,435
AFS, Total Unrealized Losses	(630)	(612)
AFS, Total Fair Value	272,759	178,676
U.S. treasury securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	0	(49)
AFS, Less Than 12 Months, Fair Value	2,497	18,927
AFS, 12 Months or Greater, Unrealized Losses	0	0
AFS, 12 Months or Greater, Fair Value	0	0
AFS, Total Unrealized Losses	0	(49)
AFS, Total Fair Value	2,497	18,927
U.S. government agencies securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	(99)	(66)
AFS, Less Than 12 Months, Fair Value	33,890	12,263
AFS, 12 Months or Greater, Unrealized Losses	(6)	(21)
AFS, 12 Months or Greater, Fair Value	7,749	16,858
AFS, Total Unrealized Losses	(105)	(87)
AFS, Total Fair Value	41,639	29,121
Commercial paper
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	0	0
AFS, Less Than 12 Months, Fair Value	4,058	6,735
AFS, 12 Months or Greater, Unrealized Losses	0	0
AFS, 12 Months or Greater, Fair Value	0	0
AFS, Total Unrealized Losses	0	0
AFS, Total Fair Value	4,058	6,735
Corporate debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	(491)	(441)
AFS, Less Than 12 Months, Fair Value	196,907	107,316
AFS, 12 Months or Greater, Unrealized Losses	(34)	(36)
AFS, 12 Months or Greater, Fair Value	27,658	16,577
AFS, Total Unrealized Losses	(525)	(476)
AFS, Total Fair Value	$ 224,565	$ 123,893

Leases - Future Minimum Payments and Lease Obligations (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Leases [Abstract]
Fiscal 2025	$ 8,174
Fiscal 2026	9,337
Fiscal 2027	9,626
Fiscal 2028	9,922
Fiscal 2029 and thereafter	53,218
Total future minimum lease payments	90,277
Less: Tenant improvement allowance	(3,427)
Less: Imputed interest	(28,025)
Total operating lease liabilities	$ 58,825	$ 39,659

Stock-Based Compensation - Valuation Assumptions (Details)	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Valuation assumptions:
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility	63.20%	46.30%	44.10%
Expected term (years)	6 years 1 month 6 days	6 years 6 months	6 years 4 months 24 days
Risk-free interest rate	4.10%	3.90%	1.10%

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Current expense
Federal	$ 0	$ 0	$ 0
State	293	306	310
Foreign	499	369	479
Total	792	675	789
Deferred expense
Federal	0	0	0
State	0	0	0
Foreign	0	0	0
Total	0	0	0
Provision for income taxes	$ 792	$ 675	$ 789

Balance Sheet Details - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation and amortization expense, related to property and equipment	$ 11.5	$ 5.0	$ 4.4

Leases - Narrative (Details) $ in Millions	3 Months Ended
Leases - Narrative (Details) $ in Millions	Jan. 31, 2024 USD ($) phase	Jul. 31, 2023 USD ($) phase	Apr. 30, 2024 phase	Apr. 30, 2023 phase	Feb. 21, 2023 ft²	Oct. 31, 2022 phase	Aug. 25, 2021 ft² phase
Leases [Abstract]
Area under lease (in square feet) \| ft²							283,015
Number of phases \| phase	6	5	7	4		3	2
Decrease in right-of-use asset \| $	$ 1.7	$ 1.6
Decrease in lease liability \| $	$ 1.7	$ 1.6
Sub-leased space area (in square feet) \| ft²					3,130		283,013

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Pay vs Performance Disclosure
Net loss	$ (279,696)	$ (268,839)	$ (192,065)

- Definition

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

+ References

+ Details

Fair Value Measurements (Tables)

12 Months Ended

Apr. 30, 2024

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, 2024								As of April 30, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	82,564	$	—	$	—	$	82,564	$	75,293	$	—	$	—	$	75,293
Commercial paper	—		18,769		—		18,769		—		112,851		—		112,851
U.S. treasury securities	—		5,888		—		5,888		—		—		—		—

Certificates of deposit	—		—		—		—		—		2,000		—		2,000
Available-for-sale marketable securities:
U.S. treasury securities	—		2,497		—		2,497		—		27,397		—		27,397
Certificates of deposit	—		62,017		—		62,017		—		61,025		—		61,025
U.S. government agencies securities	—		46,428		—		46,428		—		75,674		—		75,674
Commercial paper	—		162,183		—		162,183		—		184,230		—		184,230
Corporate debt securities	—		310,095		—		310,095		—		179,247		—		179,247
Total cash equivalents and available-for-sale marketable securities	$	82,564	$	607,877	$	—	$	690,441	$	75,293	$	642,424	$	—	$	717,717

Revenue - Deferred Revenue Balance (Details) - USD ($) $ in Millions	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 39.0	$ 47.9
Revenue recognized	$ 47.8	$ 48.9

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Apr. 30, 2024	Apr. 30, 2025	Apr. 30, 2023
Tax Credit Carryforward [Line Items]
Deferred tax assets, valuation allowance	$ 252,682,000		$ 180,571,000
Deferred tax assets, increase in valuation allowance	72,100,000
Unrecognized tax benefits, if recognized, would impact effective income tax rate	100,000
Unrecognized tax benefits, cumulative interest and penalties	0		0
Unrecognized tax benefits, anticipated significant change over the next 12 months	0
Forecast
Tax Credit Carryforward [Line Items]
Unrecognized tax benefits, if recognized, would impact effective income tax rate		$ 0
Federal
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	599,300,000		487,600,000
Tax credit carryforwards, subject to expiration	1,000,000.0
Federal \| Research Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	18,800,000
Federal \| Charitable Contribution Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	25,600,000
State
Tax Credit Carryforward [Line Items]
Net operating loss carryforwards	249,300,000		$ 187,800,000
Tax credit carryforwards, subject to expiration	400,000
State \| Research Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforwards	$ 14,200,000

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands

Apr. 30, 2024

Apr. 30, 2023

Current assets

Cash and cash equivalents

$ 167,146

$ 284,829

Marketable securities

583,221

446,155

Accounts receivable, net of allowance of $359 and $359 as of April 30, 2024 and 2023, respectively

^[1]

130,064

134,586

Prepaid expenses and other current assets

^[2]

23,963

23,309

Total current assets

904,394

888,879

Property and equipment, net

88,631

84,578

Goodwill

625

Long-term marketable securities

81,418

Other assets, non-current

^[3]

44,575

47,528

Total assets

1,038,225

1,103,028

Current liabilities

Accounts payable

^[4]

11,316

24,610

Accrued compensation and employee benefits

44,263

46,513

Deferred revenue, current

^[5]

37,230

47,846

Accrued and other current liabilities

^[6]

9,526

17,070

Total current liabilities

102,335

136,039

Deferred revenue, non-current

1,732

Other long-term liabilities

60,805

37,320

Total liabilities

164,872

173,363

Commitments and contingencies (note 7)

Stockholders’ equity

Additional paid-in capital

1,963,726

1,740,174

Accumulated other comprehensive loss

(563)

(385)

Accumulated deficit

(1,089,933)

(810,237)

Total stockholders’ equity

873,353

929,665

Total liabilities and stockholders’ equity

1,038,225

1,103,028

Class A Common Stock

Stockholders’ equity

Common stock

120

110

Class B Common Stock

Stockholders’ equity

Common stock

$ 3

[1]	Including amounts from a related party of $74,620 as of April 30, 2023.
[2]	Including amounts from a related party of $4,983 as of April 30, 2023.
[3]	Including amounts from a related party of $11,279 as of April 30, 2023.
[4]	Including amounts due to a related party of $2,200 as of April 30, 2023
[5]	Including amounts from a related party of $249 as of April 30, 2023.
[6]	Including amounts due to a related party of $2,448 as of April 30, 2023.

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Nov. 27, 2020 USD ($) period shares	Apr. 30, 2024 USD ($) $ / shares shares	Apr. 30, 2023 USD ($) $ / shares shares	Apr. 30, 2022 USD ($) $ / shares	Oct. 04, 2023	May 01, 2023	Jul. 31, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value for options granted (in dollars per share) \| $ / shares		$ 16.70	$ 7.88	$ 19.15
Stock options exercised, total intrinsic value		$ 89,700	$ 24,400	$ 187,300
Stock options vested, total grant date fair value		34,700	49,900	35,300
Stock-based compensation expense		$ 215,761	$ 216,542	$ 113,441
Risk-free interest rate		4.10%	3.90%	1.10%
Expected dividend yield		0.00%	0.00%	0.00%
Expected volatility		63.20%	46.30%	44.10%
Accrued stock-settled bonus		$ 31,194	$ 32,414
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		$ 79,600	$ 104,700
Unrecognized compensation cost, weighted-average recognition period (in years)		2 years 2 months 12 days	2 years 6 months
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, weighted-average recognition period (in years)		3 years 8 months 12 days	3 years 10 months 24 days
Vesting period (in years)		5 years
Stock-based compensation expense		$ 130,600	$ 134,800	$ 72,900
Unrecognized stock-based compensation expense, non-options		$ 422,600	$ 423,800
Granted, non-option (in shares) \| shares		8,422,000	19,254,000
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		5.00%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 5,400	$ 2,100
Maximum shares authorized (in shares) \| shares							1,700,000,000,000
Share price (in dollars per share) \| $ / shares		$ 12.90
Risk-free interest rate		3.70%
Expected dividend yield		0.00%
Expected volatility		51.40%
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 \| ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 5,400	$ 3,700
Expected dividend yield		0.00%	0.00%
Unrecognized stock-based compensation expense, non-options		$ 2,700	$ 5,800
Percentage of employee earnings participation (not exceeding)	15.00%
Initial offering period (in months)	24 months
Number of purchase periods \| period	4
Purchase period (in months)	6 months
Annual Bonus Program And Retention Bonus Program \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 38,800	$ 35,000
Common Class A And Common Class B \| 2020 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Automatic increase to shares reserve for future issuance, percent of total shares outstanding					7.00%	5.00%
Common Class A And Common Class B \| 2020 Employee Stock Purchase Plan \| ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Automatic increase to shares reserve for future issuance, percent of total shares outstanding						1.00%
Class A Common Stock \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, non-option (in shares) \| shares		532,842	811,790
Class A Common Stock \| 2020 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future issuance (in shares) \| shares		8,769,914
Class A Common Stock \| 2020 Employee Stock Purchase Plan \| ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future issuance (in shares) \| shares		5,049,150	4,773,137
Shares reserved for future issuance (in shares) \| shares	3,000,000
Shares purchased (in shares) \| shares	2,500
Shares purchased	$ 25
Fair market value (as a percent)	85.00%
Number of shares purchased (in shares) \| shares		863,412	310,784

Fair Value Measurements (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and available-for-sale marketable securities	$ 690,441	$ 717,717
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	82,564	75,293
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	18,769	112,851
Available-for-sale marketable securities:	162,183	184,230
U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	5,888	0
Available-for-sale marketable securities:	2,497	27,397
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	2,000
Available-for-sale marketable securities:	62,017	61,025
U.S. government agencies securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale marketable securities:	46,428	75,674
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale marketable securities:	310,095	179,247
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and available-for-sale marketable securities	690,441	717,717
Fair Value, Recurring \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	82,564	75,293
Fair Value, Recurring \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	18,769	112,851
Available-for-sale marketable securities:	162,183	184,230
Fair Value, Recurring \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	5,888	0
Available-for-sale marketable securities:	2,497	27,397
Fair Value, Recurring \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	2,000
Available-for-sale marketable securities:	62,017	61,025
Fair Value, Recurring \| U.S. government agencies securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale marketable securities:	46,428	75,674
Fair Value, Recurring \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale marketable securities:	310,095	179,247
Fair Value, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and available-for-sale marketable securities	82,564	75,293
Fair Value, Recurring \| Level 1 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	82,564	75,293
Fair Value, Recurring \| Level 1 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	0
Available-for-sale marketable securities:	0	0
Fair Value, Recurring \| Level 1 \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	0
Available-for-sale marketable securities:	0	0
Fair Value, Recurring \| Level 1 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	0
Available-for-sale marketable securities:	0	0
Fair Value, Recurring \| Level 1 \| U.S. government agencies securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale marketable securities:	0	0
Fair Value, Recurring \| Level 1 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale marketable securities:	0	0
Fair Value, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and available-for-sale marketable securities	607,877	642,424
Fair Value, Recurring \| Level 2 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	0
Fair Value, Recurring \| Level 2 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	18,769	112,851
Available-for-sale marketable securities:	162,183	184,230
Fair Value, Recurring \| Level 2 \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	5,888	0
Available-for-sale marketable securities:	2,497	27,397
Fair Value, Recurring \| Level 2 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	2,000
Available-for-sale marketable securities:	62,017	61,025
Fair Value, Recurring \| Level 2 \| U.S. government agencies securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale marketable securities:	46,428	75,674
Fair Value, Recurring \| Level 2 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale marketable securities:	310,095	179,247
Fair Value, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash equivalents and available-for-sale marketable securities	0	0
Fair Value, Recurring \| Level 3 \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	0
Fair Value, Recurring \| Level 3 \| Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	0
Available-for-sale marketable securities:	0	0
Fair Value, Recurring \| Level 3 \| U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	0
Available-for-sale marketable securities:	0	0
Fair Value, Recurring \| Level 3 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents:	0	0
Available-for-sale marketable securities:	0	0
Fair Value, Recurring \| Level 3 \| U.S. government agencies securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale marketable securities:	0	0
Fair Value, Recurring \| Level 3 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale marketable securities:	$ 0	$ 0

Leases

12 Months Ended

Apr. 30, 2024

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. 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 leased space to the Company. The lease commencement date of the third phase was determined to have occurred in the quarter ended October 31, 2022, when the landlord delivered the leased space to the Company. The lease commencement date of the fourth phase was determined to have occurred in the quarter ended April 30, 2023, when the landlord delivered the leased space to the Company. The lease commencement date of the fifth phase was determined to have occurred in the quarter ended July 31, 2023, when the landlord delivered the leased space to the Company. The Company recorded $1.6 million of lease liability in other long-term liabilities and corresponding right-of-use asset in other assets, non-current in the consolidated balance sheets related to the fifth phase of the lease. The lease commencement date of the sixth phase was determined to have occurred in the quarter ended January 31, 2024, when the landlord delivered the leased space to the Company. The Company recorded $1.7 million of lease liability in other long-term liabilities and corresponding right-of-use asset in other assets, non-current in the consolidated balance sheets related to the sixth phase of the lease. The lease commencement date of the seventh phase 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, 2024, 2023 and 2022 were as follows (in thousands):


	Fiscal Year Ended April 30,
Lease Costs	2024		2023		2022
Operating lease costs	$	4,995	$	8,359	$	5,587
Short term lease costs	1,537		1,624		1,538
Variable lease costs	3,959		3,494		1,892
Sublease income	(105)		(26)		—
Total lease costs, net	$	10,387	$	13,451	$	9,017

On February 21, 2023, the Company entered into a sublease agreement with First Virtual Group, Inc. (the “Subtenant”), whereby the Company agreed to sublease to the Subtenant approximately 3,130 square feet of space located in Redwood City, California. Refer to Note 12. Related Party Transactions for more information.

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 represent 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,
	2024		2023		2022

Cash payments included in the measurement of operating lease liabilities – operating cash flows	$	6,136	$	5,250	$	4,667

Right-of-use assets obtained in exchange for lease obligations (including remeasurement of right-of-use assets and lease liabilities due to changes in the timing of receipt of lease incentives)	$	1,833	$	(5,589)	$	26,529
Right-of-use assets obtained in exchange for lease obligations arising from lease modifications	$	—	$	3,093	$	1,572

The following table presents the lease balances within the consolidated balance sheets, 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		2024		2023
Right-of-use assets	Other assets, non-current	$	18,664	$	17,572
Lease liabilities, current	Other current liabilities	3,226		2,339
Lease liabilities, non-current	Other long-term liabilities	55,599		37,320
Total operating lease liabilities		$	58,825	$	39,659


	As of April 30,
Operating leases	2024		2023
Weighted average remaining lease term (in years)	8.9		9.9
Weighted average discount rate	8.0	%	8.1	%

Future minimum payments under lease obligations as of April 30, 2024 were as follows (in thousands):


	As of April 30, 2024
Fiscal 2025	8,174
Fiscal 2026	9,337
Fiscal 2027	9,626
Fiscal 2028	9,922
Fiscal 2029 and thereafter	53,218
Total future minimum lease payments	90,277
Less: Tenant improvement allowance	(3,427)
Less: Imputed interest	(28,025)
Total operating lease liabilities	$	58,825

Summary of Business and Significant Accounting Policies (Details)	12 Months Ended
	Apr. 30, 2024 USD ($) application segment	Apr. 30, 2023 USD ($)	Apr. 30, 2022 USD ($)
Subsidiary, Sale of Stock [Line Items]
Restricted cash	$ 12,600,000	$ 12,600,000
Allowance for doubtful accounts	400,000	400,000
Unbilled receivables	62,300,000	77,600,000
Long-lived assets, impairment	0	0	$ 0
Goodwill, impairment	0	0	0
Capitalized software costs	4,300,000	3,000,000
Amortized capitalized software costs	$ 1,300,000	1,100,000	700,000
Number of applications \| application	1
Term of pilot phase, up to (in months)	6 months
Deferred costs, sales commissions, amortization period (in years)	5 years
Accrued liabilities, warranties	$ 0
Advertising expenses	15,800,000	6,900,000	51,900,000
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	56 days
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	112 days
C3.ai DTI Grants Program
Subsidiary, Sale of Stock [Line Items]
Contribution expense	$ 0	$ 0	$ 11,500,000

Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Leases [Abstract]
Operating lease costs	$ 4,995	$ 8,359	$ 5,587
Short term lease costs	1,537	1,624	1,538
Variable lease costs	3,959	3,494	1,892
Sublease income	(105)	(26)	0
Total lease costs, net	$ 10,387	$ 13,451	$ 9,017

Stock-Based Compensation

12 Months Ended

Apr. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

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, non-statutory stock options, stock appreciation rights, restricted stock awards, RSU awards, performance awards and other equity awards.

As of April 30, 2024, the number of shares of Class A common stock available for issuance was 8,769,914 under the 2020 Incentive Plan. On August 15, 2023 and August 21, 2023, respectively, the Company’s compensation committee and board of directors adopted, and, on October 4, 2023, its stockholders approved, the amendment of the 2020 Incentive Plan to increase the maximum number of shares of Class A common stock that may be automatically added to the share reserve of the 2020 Incentive Plan on May 1 of each year from May 1, 2024 until (and including) May 1, 2030 pursuant to the “evergreen” provision of the 2020 Incentive Plan from five percent (5%) to seven percent (7%) of the total number of shares of the Company’s Class A common stock and Class B common stock outstanding on April 30 of the immediately preceding fiscal year. Prior to the adoption and approval of such amendment, there was an automatic annual increase on May 1, 2023 in the number of shares reserved for future issuance pursuant to the 2020 Incentive Plan in an amount equal to five percent (5%) of the total number of shares of the Company’s Class A common stock and Class B common stock outstanding as of April 30, 2023.

Stock Options

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, 2022	36,338	$	12.44	7.34	$	165,436
Options granted	571	15.30
Options exercised	(1,332)	20.60
Options cancelled	(881)	15.36
Balance as of April 30, 2023	34,696	$	12.75	6.45	$	175,907
Options granted	829	30.11
Options exercised	(3,033)	33.84
Options cancelled	(1,164)	13.58
Balance as of April 30, 2024	31,328	$	13.97	5.68	$	268,167
Vested and exercisable as of April 30, 2024	23,991	$	10.66	5.27	$	284,778
Vested and expected to vest as of April 30, 2024(1)	31,371	$	13.97	5.68	$	268,537

__________________

(1) The number of options vested and expected to vest as of April 30, 2024 includes early exercised, unvested Class A common stock. Refer to Note 8. Stockholders’ Equity for more information.

The weighted average grant date fair value of options granted during the fiscal years ended April 30, 2024, 2023 and 2022 was $16.70, $7.88 and $19.15, 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, 2024, 2023 and 2022 was $89.7 million, $24.4 million and $187.3 million, respectively. The total grant date fair value of options vested during the fiscal years ended April 30, 2024, 2023 and 2022 was $34.7 million, $49.9 million and $35.3 million, respectively.

As of April 30, 2024 and 2023, there was $79.6 million and $104.7 million, respectively, of unrecognized compensation cost related to stock options which are expected to be recognized over an estimated weighted-average period of 2.2 years and 2.5 years, respectively.

The grant-date fair value of the options issued for the fiscal years ended April 30, 2024, 2023 and 2022 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,
	2024		2023		2022
Valuation assumptions:
Expected dividend yield	—	%	—	%	—	%
Expected volatility	63.2	%	46.3	%	44.1	%
Expected term (years)	6.1		6.5		6.4
Risk-free interest rate	4.1	%	3.9	%	1.1	%

Restricted Stock Units

The Company’s RSUs include time-based RSUs and PRSUs.

Time-based RSUs

The time-based 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-twentieth 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, 2024, 2023 and 2022, the Company recognized stock-based compensation expense of $130.6 million, $134.8 million and $72.9 million, respectively, associated with such time-based RSUs.

PRSUs

In July 2022, the compensation committee of the board of directors (the “Compensation Committee”) approved the grant of a maximum of 1,700,000 performance-based restricted stock units (the “PRSU Award”) to the CEO, pursuant to the 2020 Incentive Plan, subject to and conditioned upon the subsequent determination by the board of directors of performance metrics upon the achievement of which the PRSU Award would vest. In August 2022, the board of directors approved performance metrics in concept, subject to further action by the Compensation Committee. In December 2022, the Compensation Committee: (a) determined and approved the performance metrics, which are based on the achievement of certain total shareholder return results, as measured against certain stock price hurdles (the “Market Condition”); and (b) extended the vesting period of the PRSU Award through December 31, 2027. As an additional condition to vesting of each tranche of the PRSU Award, Mr. Siebel must remain in continuous service to the Company through a minimum service date that applies to such tranche or, if later, the date the applicable performance metric is achieved (the “Service Condition”). The grant date of the PRSU Award was established in December 2022.

Stock-based compensation expense associated with the PRSU Award will be recognized over the longer of the expected achievement period for the Market Condition or the Service Condition. For the fiscal years ended April 30, 2024 and 2023, the Company recorded stock-based compensation expense of $5.4 million and $2.1 million, respectively, related to the PRSU Award.

The Company determined the grant date fair value of the PRSU Award using a Monte Carlo simulation model with the following assumptions: stock price of $12.90, risk-free interest rate of 3.7%, dividend yield of 0% and expected volatility of 51.4%.

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, 2022	12,109	$	36.04
RSUs granted	19,254	16.63
RSUs vested	(6,535)	29.16
RSUs forfeited	(3,682)	31.27
Unvested Balance as of April 30, 2023	21,146	$	21.32
RSUs granted	8,422	33.40
RSUs vested	(6,248)	24.94
RSUs forfeited	(4,037)	26.85
Unvested Balance as of April 30, 2024	19,283	$	24.26

As of April 30, 2024 and 2023, there was $422.6 million and $423.8 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 3.7 years and 3.9 years, respectively.

In June 2023 and 2022, the Compensation Committee approved the payment of fiscal year 2023 and 2022 bonuses, respectively, under the Company’s annual bonus program in the form of fully vested RSUs covering shares of Class A common stock to employees. The Company issued 532,842 and 811,790 shares of Class A common stock pursuant to this program during the fiscal year ended April 30, 2024 and April 30, 2023, respectively.

Shares issued in settlement of fully vested RSUs granted under this bonus program were issued from the 2020 Incentive Plan and reduced the shares available for issuance under the 2020 Incentive Plan.

Employee Stock Purchase 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. There was an automatic annual increase on May 1, 2023 in the number of shares reserved for future issuance pursuant to the 2020 ESPP in an amount equal to one percent (1%) of the total number of shares of the Company’s Class A common stock and Class B common stock outstanding on April 30, 2023. 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.

Except for the initial offering period under the 2020 ESPP, which commenced on October 16, 2022 and ends on September 15, 2024, the 2020 ESPP provides for 24-month offering periods beginning September 15 and March 15 of each year, with each offering period consisting of four six-month purchase periods. The 2020 ESPP allows eligible employees to purchase shares of the Company’s Class A common stock, subject to purchase limits of 2,500 shares during each six-month period or $25,000 worth of stock for each calendar year, through payroll deductions at price per share equal to 85% of the lesser of the fair market value of the Company’s Class A common stock on (i) the first trading day of the applicable offering period and (ii) the last trading day of each purchase period in the applicable offering period. If the price per share of the Company’s Class A common stock on any purchase date in the offering period is lower than the price per share of the Company’s Class A common stock price on the enrollment date of that offering period, the offering period will immediately reset after the purchase of shares on such purchase date and automatically roll into a new 24-month offering period.

The Company uses a Black-Scholes-Merton option pricing model to determine the fair value of employee stock purchase rights granted under the 2020 ESPP.

The following assumptions were used to calculate the fair value of shares to be granted under the 2020 ESPP during the period:


	Fiscal Year Ended April 30,
	2024		2023
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	54.5 - 73.3%		47.8 - 61.4%
Expected term (years)	0.5 - 2.0		0.4 - 2.0
Risk-free interest rate	4.7 - 5.5%		4.1 - 4.9%

During the fiscal years ended April 30, 2024 and 2023, the Company recognized $5.4 million and $3.7 million, respectively, of stock-based compensation expense related to the 2020 ESPP. During the fiscal years ended April 30, 2024 and 2023, the Company’s employees purchased 863,412 and 310,784, respectively, shares of its Class A common stock under the 2020 ESPP. As of April 30, 2024 and 2023, there was $2.7 million and $5.8 million, respectively, of unrecognized stock-based compensation expense that is expected to be recognized over the remaining term of the respective offering periods. As of April 30, 2024 and 2023, 5,049,150 and 4,773,137, respectively, shares of Class A common stock were available for future issuance under the 2020 ESPP.

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,
	2024		2023		2022
Cost of subscription	$	34,032	$	21,417	$	8,638
Cost of professional services	1,288		2,220		2,710
Sales and marketing	71,751		71,389		40,344
Research and development	72,036		90,217		39,200
General and administrative	36,654		31,299		22,549
Total stock-based compensation expense	$	215,761	$	216,542	$	113,441

The Company records stock-based compensation associated with the Company’s annual bonus program and retention bonus program for certain employees, which may be paid out in fully vested RSUs that are settled in shares of Class A common stock. During the fiscal years ended April 30, 2024 and 2023, the Company recognized $38.8 million and $35.0 million respectively, of stock-based compensation expense associated with these programs, of which $31.2 million and $32.4 million was reflected under accrued compensation and employee benefits in the consolidated balance sheets as of April 30, 2024 and 2023, respectively. Upon settlement, this amount will be reflected under common stock and additional paid-in capital in the consolidated statements of stockholders’ equity.

Commitment and Contingencies	12 Months Ended
Commitment and Contingencies	Apr. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Non-cancellable Commitments The Company entered into a non-cancellable arrangement with a cloud services provider in July 2022. Under the arrangement, the Company committed to spend an aggregate of at least $100.0 million for the period of three years beginning July 2022, on services with this vendor. The Company has incurred costs totaling $31.8 million and $8.3 million during the fiscal years ended April 30, 2024 and April 30, 2023, respectively, under the arrangement. The Company entered into a non-cancellable arrangement with a professional services provider in October 2023. Under the arrangement, the Company committed to purchase an aggregate of $15.0 million of professional services for a period of 18 months beginning October 2023. The Company has incurred costs totaling $7.8 million during the fiscal year ended April 30, 2024, under the arrangement. The Company entered into a non-cancellable arrangement with a professional services provider in January 2024, which was amended in April 2024. Under the amended arrangement, the Company committed to purchase an aggregate of $31.0 million of professional services for a period of two years beginning January 2024. The Company has incurred costs totaling $3.5 million during the fiscal year ended April 30, 2024, under the arrangement. C3.ai DTI Grants In February 2020, the Company entered into an agreement establishing the C3.ai Digital Transformation Institute (“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, 2024 and 2023, the total potential remaining contributions are $31.6 million and $31.6 million, respectively. The future grant payments are conditional in nature and subject to execution of the program in line with specific requirements. Legal Proceedings 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 the Company, and certain current and former officers and directors. On December 12, 2022, the court appointed a lead plaintiff and lead counsel. On February 15, 2023, the lead plaintiff and three additional named plaintiffs filed an amended complaint. The amended complaint names as defendants the Company, four current and former officers and directors, the underwriters in the Company’s initial public offering (“IPO”), and Baker Hughes Company (“Baker Hughes”). The amended complaint generally alleges that the defendants made material misstatements or omissions about the Company’s partnership with Baker Hughes and the Company’s own salesforce. The amended complaint alleges that defendants made these misstatements or omissions in connection with the Company’s IPO in violation of Sections 11 and 15 of the Securities Act of 1933 and between December 9, 2020 and December 2, 2021, inclusive, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The amended complaint further alleges that certain defendants engaged in insider trading in violation of Section 20A of the Securities Exchange Act of 1934. Plaintiffs seek unspecified damages, interest, fees and costs. All defendants moved to dismiss plaintiffs’ amended complaint on May 1, 2023. On June 30, 2023, plaintiffs voluntarily dismissed the underwriter defendants. On February 22, 2024, the court granted the motion to dismiss on all claims except for portions of the alleged violations of Section 11 and Section 15. Plaintiffs filed a second amended complaint on April 4, 2024. Defendants filed motions to dismiss on May 17, 2024. Five putative shareholder derivative actions have been filed: (1) Suri v. Siebel et al. (22-cv-03031) filed on May 23, 2022 in the U.S. District Court for the Northern District of California; (2) Rabasca v. Siebel et al. (23-cv-1566) filed on April 3, 2023 in the U.S. District Court for the Northern District of California; (3) Vo v. Siebel et al. (23-cv-428) filed on April 19, 2023 in the U.S. District Court for the District of Delaware; and (4) Lanfair v. Siebel et al. (24-cv-01869) filed on March 26, 2024 in the U.S. District Court for the Northern District of California; and (5) Pankow v. Siebel et al. (2024-0530-NAC) on May 15, 2024 in the Chancery Court of Delaware. In these cases, the plaintiffs assert claims on the Company’s behalf against certain of the Company’s current and former officers and directors for breach of fiduciary duty, aiding and abetting breach of fiduciary duty, gross mismanagement, corporate waste, abuse of control, unjust enrichment, and violations of the Securities Exchange Act of 1934 based on allegations similar to those in the securities class action. In all four cases, the Company is named as a nominal defendant. The derivative complaints seek unspecified damages, disgorgement of profits from board member stock sales, an award of costs and expenses, including reasonable attorneys’ fees, and corporate governance reforms. On September 7, 2022, Suri was stayed pending resolution of the Reckstin case. On August 3, 2023, Vo was transferred to the U.S. District Court for the Northern District of California (3:23-cv-03895), and on August 30, 2023 the Vo action was stayed on the same terms as the Suri action. On December 4, 2023, the parties in Rabasca filed a stipulation to consolidate the Rabasca action with the Suri action, and to stay the Rabasca action on the same terms as the Suri action. The Company has not yet been required to answer the complaints in Suri, Rabasca and Vo and has not yet been served with the complaint in the Lanfair or Pankow matters. 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. Due to the early stages of these legal proceedings, neither the likelihood that a loss, if any, will be realized, nor an estimate of the possible loss or range of loss, if any, can be determined. On February 27, 2024, the Company filed a lawsuit in the Court of Rome, Italy against Enel Global Services S.r.l. and any involved corporate affiliates (“Enel”). The claims in the suit against Enel include misappropriation of trade secrets under Articles 98 and 99 of the Italian Industrial Property Code and breach of contract. In this action, the Company seeks compensatory damages in the amount of €2.1 billion, equitable and other relief, as well as fees and costs. The Company has also filed a report of criminal misconduct with Italian law enforcement under Article 623 of the Italian Criminal Code. The Company is evaluating other legal venues to fully redress its claims. The Company is considering filing a report of misconduct with federal law enforcement in the United States. Since any legal action is unpredictable, it is difficult to quantify the potential recoveries, associated potential costs, and timeline associated with resolution of this matter. Any gain on this matter is considered a gain contingency and will be recognized in the period in which the award is realized or realizable. The Company does not assume any obligation to provide regular updates on this legal action. 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.

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

12 Months Ended

Apr. 30, 2024

Apr. 30, 2023

Apr. 30, 2022

Related party revenue

$ 310,582

$ 266,795

$ 252,759

Related party cost of revenue

132,022

86,337

63,713

Related party sales and marketing

^[1]

214,167

183,121

173,584

Related Party

Related party sales and marketing

810

13,962

8,229

Cost of subscription

Related party revenue

^[2]

278,104

230,443

206,916

Related party cost of revenue

^[3]

128,469

78,423

45,838

Cost of subscription | Related Party

Related party revenue

10,581

75,452

60,425

Related party cost of revenue

578

Professional services

Related party revenue

^[4]

32,478

36,352

45,843

Related party cost of revenue

3,553

7,914

17,875

Professional services | Related Party

Related party revenue

$ 5,804

$ 16,774

$ 16,872

[1]	Including related party sales and marketing expense of $810, $13,962 and $8,229 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[2]	Including related party revenue of $10,581, $75,452 and $60,425 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[3]	Including purchases from related party included in cost of revenue of nil, nil and $578 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[4]	Including related party revenue of $5,804, $16,774 and $16,872 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.

- Definition

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

+ References

+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Cash Equivalents and Marketable Securities (Tables)

12 Months Ended

Apr. 30, 2024

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, 2024								As of April 30, 2023
	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	$	82,564	$	—	$	—	$	82,564	$	75,293	$	—	$	—	$	75,293
Commercial paper	18,769		—		—		18,769		112,851		—		—		112,851
U.S. treasury securities	5,888		—		—		5,888		—		—		—		—

Certificates of deposit	—		—		—		—		2,000		—		—		2,000
Available-for-sale marketable securities:
U.S. treasury securities	2,497		—		—		2,497		27,445		1		(49)		27,397
Certificates of deposit	62,017		—		—		62,017		61,025		—		—		61,025
U.S. government agencies securities	46,527		5		(104)		46,428		75,650		111		(87)		75,674
Commercial paper	162,183		—		—		162,183		184,230		—		—		184,230
Corporate debt securities	310,557		64		(526)		310,095		179,608		115		(476)		179,247
Total cash equivalents and available-for-sale marketable securities	$	691,002	$	69	$	(630)	$	690,441	$	718,102	$	227	$	(612)	$	717,717

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, 2024				As of April 30, 2023
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	514,747	$	514,484	$	446,629	$	446,155
After one year through five years	69,034		68,736		81,329		81,418
Total	$	583,781	$	583,220	$	527,958	$	527,573

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

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, 2024 and 2023 (in thousands):


	As of April 30, 2024
	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	$	—	$	2,497	$	—	$	—	$	—	$	2,497

U.S. government agencies securities	(99)		33,890		(6)		7,749		$	(105)	$	41,639
Commercial paper	—		4,058		—		—		$	—	$	4,058
Corporate debt securities	(491)		196,907		(34)		27,658		$	(525)	$	224,565
Total	$	(590)	$	237,352	$	(40)	$	35,407	$	(630)	$	272,759


	As of April 30, 2023
	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	$	(49)	$	18,927	$	—	$	—	$	(49)	$	18,927

U.S. government agencies securities	(66)		12,263		(21)		16,858		(87)		29,121
Commercial paper	—		6,735		—		—		—		6,735
Corporate debt securities	(441)		107,316		(36)		16,577		(476)		123,893
Total	$	(556)	$	145,241	$	(57)	$	33,435	$	(612)	$	178,676

Stock-Based Compensation - Schedule of Valuation Assumptions Under ESPP (Details)	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Valuation assumptions:
Expected dividend yield	0.00%	0.00%	0.00%
Expected term (years)	6 years 1 month 6 days	6 years 6 months	6 years 4 months 24 days
ESPP \| 2020 Employee Stock Purchase Plan
Valuation assumptions:
Expected dividend yield	0.00%	0.00%
Expected volatility, minimum	54.50%	47.80%
Expected volatility, maximum	73.30%	61.40%
Risk-free interest rate, minimum	4.70%	4.10%
Risk-free interest rate, maximum	5.50%	4.90%
ESPP \| 2020 Employee Stock Purchase Plan \| Minimum
Valuation assumptions:
Expected term (years)	6 months	4 months 24 days
ESPP \| 2020 Employee Stock Purchase Plan \| Maximum
Valuation assumptions:
Expected term (years)	2 years	2 years

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 215,761	$ 216,542	$ 113,441
Cost of revenue \| Cost of subscription
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	34,032	21,417	8,638
Cost of revenue \| Cost of professional services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,288	2,220	2,710
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	71,751	71,389	40,344
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	72,036	90,217	39,200
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 36,654	$ 31,299	$ 22,549

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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+ Details

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

12 Months Ended

Apr. 30, 2024

Apr. 30, 2023

Apr. 30, 2022

Revenue

Total revenue

$ 310,582

$ 266,795

$ 252,759

Cost of revenue

Total cost of revenue

132,022

86,337

63,713

Gross profit

178,560

180,458

189,046

Operating expenses

Sales and marketing

^[1]

214,167

183,121

173,584

Research and development

201,365

210,660

150,544

General and administrative

81,370

77,170

61,040

Total operating expenses

496,902

470,951

385,168

Loss from operations

(318,342)

(290,493)

(196,122)

Interest income

40,079

21,979

1,827

Other (expense) income, net

(641)

350

3,019

Loss before provision for income taxes

(278,904)

(268,164)

(191,276)

Provision for income taxes

792

675

789

Net loss

$ (279,696)

$ (268,839)

$ (192,065)

Net loss per share attributable to Class A and B common stockholders, basic (in dollars per share)

$ (2.34)

$ (2.45)

$ (1.84)

Net loss per share attributable to Class A and B common stockholders, diluted (in dollars per share)

$ (2.34)

$ (2.45)

$ (1.84)

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

119,362

109,851

104,404

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

119,362

109,851

104,404

Cost of subscription

Revenue

Total revenue

^[2]

$ 278,104

$ 230,443

$ 206,916

Cost of revenue

Total cost of revenue

^[3]

128,469

78,423

45,838

Professional services

Revenue

Total revenue

^[4]

32,478

36,352

45,843

Cost of revenue

Total cost of revenue

$ 3,553

$ 7,914

$ 17,875

[1]	Including related party sales and marketing expense of $810, $13,962 and $8,229 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[2]	Including related party revenue of $10,581, $75,452 and $60,425 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[3]	Including purchases from related party included in cost of revenue of nil, nil and $578 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[4]	Including related party revenue of $5,804, $16,774 and $16,872 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.

Leases - Term and Discount Rate Information (Details)	Apr. 30, 2024	Apr. 30, 2023
Operating leases
Weighted average remaining lease term (in years)	8 years 10 months 24 days	9 years 10 months 24 days
Weighted average discount rate	8.00%	8.10%

Revenue - Costs to Obtain a Contract (Details) - USD ($) $ in Millions	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Disaggregation of Revenue [Line Items]
Costs to obtain and fulfill a contract, expense	$ 7.2	$ 5.9	$ 5.1
Prepaid Expenses and Other Current Assets
Disaggregation of Revenue [Line Items]
Costs to obtain and fulfill a contract	7.0	6.2
Other Assets
Disaggregation of Revenue [Line Items]
Costs to obtain and fulfill a contract	$ 11.0	$ 14.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Net Loss Per Share Attributable to Common Stockholders (Tables)

12 Months Ended

Apr. 30, 2024

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,
	2024		2023		2022
Numerator
Net loss attributable to common stockholders	$	(279,696)	$	(268,839)	$	(192,065)
Denominator
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted	119,362		109,851		104,404
Basic and diluted net loss per share attributable to common stockholders
Basic and diluted net loss per Class A and Class B common shares	$	(2.34)	$	(2.45)	$	(1.84)

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


	Fiscal Year Ended April 30,
	2024	2023	2022
Stock options	31,371	34,844	36,712
RSUs	19,283	21,146	12,109
ESPP	731	1,525	—

Stock-Based Compensation (Tables)

12 Months Ended

Apr. 30, 2024

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, 2022	36,338	$	12.44	7.34	$	165,436
Options granted	571	15.30
Options exercised	(1,332)	20.60
Options cancelled	(881)	15.36
Balance as of April 30, 2023	34,696	$	12.75	6.45	$	175,907
Options granted	829	30.11
Options exercised	(3,033)	33.84
Options cancelled	(1,164)	13.58
Balance as of April 30, 2024	31,328	$	13.97	5.68	$	268,167
Vested and exercisable as of April 30, 2024	23,991	$	10.66	5.27	$	284,778
Vested and expected to vest as of April 30, 2024(1)	31,371	$	13.97	5.68	$	268,537

__________________

(1) The number of options vested and expected to vest as of April 30, 2024 includes early exercised, unvested Class A common stock. Refer to Note 8. 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,
	2024		2023		2022
Valuation assumptions:
Expected dividend yield	—	%	—	%	—	%
Expected volatility	63.2	%	46.3	%	44.1	%
Expected term (years)	6.1		6.5		6.4
Risk-free interest rate	4.1	%	3.9	%	1.1	%

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, 2022	12,109	$	36.04
RSUs granted	19,254	16.63
RSUs vested	(6,535)	29.16
RSUs forfeited	(3,682)	31.27
Unvested Balance as of April 30, 2023	21,146	$	21.32
RSUs granted	8,422	33.40
RSUs vested	(6,248)	24.94
RSUs forfeited	(4,037)	26.85
Unvested Balance as of April 30, 2024	19,283	$	24.26

Schedule of Valuation Assumptions Under ESPP

The following assumptions were used to calculate the fair value of shares to be granted under the 2020 ESPP during the period:


	Fiscal Year Ended April 30,
	2024		2023
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	54.5 - 73.3%		47.8 - 61.4%
Expected term (years)	0.5 - 2.0		0.4 - 2.0
Risk-free interest rate	4.7 - 5.5%		4.1 - 4.9%

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,
	2024		2023		2022
Cost of subscription	$	34,032	$	21,417	$	8,638
Cost of professional services	1,288		2,220		2,710
Sales and marketing	71,751		71,389		40,344
Research and development	72,036		90,217		39,200
General and administrative	36,654		31,299		22,549
Total stock-based compensation expense	$	215,761	$	216,542	$	113,441

Share-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Number of Stock Options Outstanding
Balance at beginning of period (in shares)	34,696	36,338
Options granted (in shares)	829	571
Options exercised (in shares)	(3,033)	(1,332)
Options cancelled (in shares)	(1,164)	(881)
Balance at end of period (in shares)	31,328	34,696	36,338
Vested and exercisable at end of period (in shares)	23,991
Vested and expected to vest at end of period (in shares)	31,371
Weighted Average Exercise Price
Balance at beginning of period (in dollars per share)	$ 12.75	$ 12.44
Options granted (in dollars per share)	30.11	15.30
Options exercised (in dollars per share)	33.84	20.60
Options cancelled (in dollars per share)	13.58	15.36
Balance at end of period (in dollars per share)	13.97	$ 12.75	$ 12.44
Vested and exercisable at end of period (in dollars per share)	10.66
Vested and expected to vest at end of period (in dollars per share)	$ 13.97
Weighted Average Remaining Contractual Life (years)
Balance at beginning of period (in years)	5 years 8 months 4 days	6 years 5 months 12 days	7 years 4 months 2 days
Balance at end of period (in years)	5 years 8 months 4 days	6 years 5 months 12 days	7 years 4 months 2 days
Vested and exercisable at end of period (in years)	5 years 3 months 7 days
Vested and expected to vest at end of period (in years)	5 years 8 months 4 days
Aggregate Intrinsic Value
Balance at beginning of period	$ 268,167	$ 175,907	$ 165,436
Balance at end of period	268,167	$ 175,907	$ 165,436
Vested and exercisable at end of period	284,778
Vested and expected to vest at end of period	$ 268,537

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Deferred tax assets
Accrued payroll	$ 5,542	$ 3,971
Other accruals & reserves	5,933	5,815
Operating lease liability	13,433	8,868
Deferred revenue	1,643	2,221
Net operating losses	141,157	116,111
R&D tax credit	15,001	10,302
Stock based compensation	13,263	10,595
Capitalized R&D expenditure	72,140	30,696
Other	626	457
Gross deferred tax assets	268,738	189,036
Valuation allowance	(252,682)	(180,571)
Total deferred tax assets	16,056	8,465
Deferred tax liabilities
Prepaid expenses	(1,986)	(1,956)
Depreciation	(9,808)	(2,580)
Operating lease right-of-use assets	(4,262)	(3,929)
Total deferred tax liabilities	(16,056)	(8,465)
Net deferred tax assets (liabilities)	$ 0	$ 0

Revenue

12 Months Ended

Apr. 30, 2024

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,
	2024		2023		2022
North America(1)	$	269,895	$	210,501	$	197,485
Europe, the Middle East and Africa(1)	35,809		47,758		46,251
Asia Pacific(1)	3,622		7,913		9,023
Rest of World(1)	1,256		623		—
Total revenue	$	310,582	$	266,795	$	252,759

__________________

(1)The United States comprised 86%, 79% and 78% of the Company’s revenue in the fiscal years ended April 30, 2024, 2023 and 2022, respectively. No other country comprised 10% or greater of the Company’s revenue for each of the fiscal years ended April 30, 2024, 2023 and 2022.

Deferred Revenue

As of April 30, 2024 and 2023, the Company’s deferred revenue balances were $39.0 million and $47.9 million, respectively. Revenue of $47.8 million and $48.9 million was recognized during the fiscal years ended April 30, 2024 and 2023, respectively, that was included in the deferred revenue balances as of April 30, 2023 and 2022, respectively.

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 or billed and recognized in the same period. This primarily consists of monthly usage-based runtime and hosting charges.

Revenue expected to be recognized from remaining performance obligations was approximately $244.3 million as of April 30, 2024, of which $163.8 million is expected to be recognized over the next 12 months and the remainder thereafter.

Costs to Obtain a Contract

As of April 30, 2024 and 2023, the amount of costs to obtain a contract included in prepaid expenses and other current assets was $7.0 million and $6.2 million, respectively. The amount of costs to obtain a contract included in other assets, non-current as of April 30, 2024 and 2023 were $11.0 million and $14.5 million, respectively. Expenses recognized for costs to obtain a contract for the years ended April 30, 2024, 2023 and 2022 were $7.2 million, $5.9 million and $5.1 million, respectively, and are 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 years ended April 30, 2024, 2023 and 2022, respectively.

Customer Concentration and Accounts Receivable

A majority of the Company’s Customer-Entities consist of corporate and governmental entities. A Customer-Entity is defined as each entity that is the ultimate parent of a party contracting with the Company. 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 the accounts receivable balance. Two separate Customer-Entities accounted for 27% and 14% of revenue for the fiscal year ended April 30, 2024. One Customer-Entity accounted for 35% of revenue for the fiscal year ended April 30, 2023. One Customer-Entity accounted for 31% of revenue for the year ended April 30, 2022. Two separate Customer-Entities accounted for 25% and 16% of accounts receivable at April 30, 2024. Two separate Customer-Entities accounted for 20% and 18% of accounts receivable at April 30, 2023.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Commitment and Contingencies (Details) $ in Millions, € in Billions		1 Months Ended				12 Months Ended		22 Months Ended
	Feb. 15, 2023 plaintiff officer_and_director	Apr. 30, 2024 USD ($)	Oct. 31, 2023 USD ($)	Jul. 31, 2022 USD ($)	Feb. 29, 2020	Apr. 30, 2024 USD ($)	Apr. 30, 2023 USD ($)	Mar. 26, 2024 claim	Feb. 27, 2024 EUR (€)
The Reckstin Family Trust v. C3.ai, Inc. \| Settled Litigation
Long-term Purchase Commitment [Line Items]
Number of additional plaintiffs \| plaintiff	3
Number of current and former officers and directors \| officer_and_director	4
Suri V. Siebel Et Al., Rabasca V. Siebel Et Al., Vo V. Siebel Et Al, Lanfair V. Siebel Et Al. And Pankow V. Siebel Et Al. \| Pending Litigation
Long-term Purchase Commitment [Line Items]
Number of actions filed \| claim								5
Enel \| Pending Litigation
Long-term Purchase Commitment [Line Items]
Gain contingency, compensatory damages sought \| €									€ 2.1
C3.ai DTI Grants Program
Long-term Purchase Commitment [Line Items]
Grants, payment period (in years)					5 years
Grants, potential remaining contributions		$ 31.6				$ 31.6	$ 31.6
Cloud Services, July 2022-July 2025
Long-term Purchase Commitment [Line Items]
Purchase commitment				$ 100.0
Purchase commitment, term (in years)				3 years
Purchase commitment, incurred cost						31.8	$ 8.3
Professional Services, October 2023-April 2025
Long-term Purchase Commitment [Line Items]
Purchase commitment			$ 15.0
Purchase commitment, term (in years)			18 months
Purchase commitment, incurred cost						7.8
Professional Services, January 2024-January 2026
Long-term Purchase Commitment [Line Items]
Purchase commitment		$ 31.0
Purchase commitment, term (in years)		2 years
Purchase commitment, incurred cost						$ 3.5

Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 103,404	$ 88,906
Less: accumulated depreciation and amortization	(14,773)	(4,328)
Property and equipment, net	88,631	84,578
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 71,867	66,522
Computer equipment
Property, Plant and Equipment [Line Items]
Useful Life (in months)	36 months
Property and equipment, gross	$ 4,936	4,901
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Useful Life (in months)	60 months
Property and equipment, gross	$ 14,479	14,343
Capital in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 12,122	$ 3,140

Audit Information	12 Months Ended
Audit Information	Apr. 30, 2024
Audit Information [Abstract]
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	San Jose, California
Auditor Firm ID	34

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, 2024	Apr. 30, 2023	Apr. 30, 2022
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)	31,371,000	34,844,000	36,712,000
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)	19,283,000	21,146,000	12,109,000
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	731,000	1,525,000	0

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

12 Months Ended

Apr. 30, 2024

Apr. 30, 2023

Apr. 30, 2022

^[1]

$ (3,208)

$ 576

$ 14,578

^[2]

8,155

(10,573)

(5,604)

12,444

38,772

20,668

(810)

(4,741)

12,739

248

(16,349)

18,493

(2,448)

(2,510)

(3,350)

$ (46)

$ 117

$ (7,565)

[1]	Including changes in related party balances of $(810), $(4,741) and $12,739 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[2]	Including changes in related party balances of $(2,448), $(2,510) and $(3,350) for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.

Leases (Tables)

12 Months Ended

Apr. 30, 2024

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, 2024, 2023 and 2022 were as follows (in thousands):


	Fiscal Year Ended April 30,
Lease Costs	2024		2023		2022
Operating lease costs	$	4,995	$	8,359	$	5,587
Short term lease costs	1,537		1,624		1,538
Variable lease costs	3,959		3,494		1,892
Sublease income	(105)		(26)		—
Total lease costs, net	$	10,387	$	13,451	$	9,017

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


	Fiscal Year Ended April 30,
	2024		2023		2022

Cash payments included in the measurement of operating lease liabilities – operating cash flows	$	6,136	$	5,250	$	4,667

Right-of-use assets obtained in exchange for lease obligations (including remeasurement of right-of-use assets and lease liabilities due to changes in the timing of receipt of lease incentives)	$	1,833	$	(5,589)	$	26,529
Right-of-use assets obtained in exchange for lease obligations arising from lease modifications	$	—	$	3,093	$	1,572


		As of April 30,
Operating leases		2024		2023
Right-of-use assets	Other assets, non-current	$	18,664	$	17,572
Lease liabilities, current	Other current liabilities	3,226		2,339
Lease liabilities, non-current	Other long-term liabilities	55,599		37,320
Total operating lease liabilities		$	58,825	$	39,659


	As of April 30,
Operating leases	2024		2023
Weighted average remaining lease term (in years)	8.9		9.9
Weighted average discount rate	8.0	%	8.1	%

Schedule of Maturities of Operating Lease Liabilities

Future minimum payments under lease obligations as of April 30, 2024 were as follows (in thousands):


	As of April 30, 2024
Fiscal 2025	8,174
Fiscal 2026	9,337
Fiscal 2027	9,626
Fiscal 2028	9,922
Fiscal 2029 and thereafter	53,218
Total future minimum lease payments	90,277
Less: Tenant improvement allowance	(3,427)
Less: Imputed interest	(28,025)
Total operating lease liabilities	$	58,825

Revenue - Remaining Performance Obligation (Details) $ in Millions	Apr. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations, amount	$ 244.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations, amount	$ 163.8
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]: 2025-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations, period (in months)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	RSUs	Common Stock	Common Stock RSUs	Additional Paid-In Capital	Additional Paid-In Capital RSUs	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning Balance, shares (in shares) at Apr. 30, 2021			102,167,000
Beginning Balance, Amount at Apr. 30, 2021	$ 1,061,175		$ 102		$ 1,410,325		$ 81	$ (349,333)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)			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)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)	1,332,000		1,309,000
Issuance of Class A common stock upon exercise of stock options	$ 4,653		$ 1		4,652
Vesting of early exercised Class A common stock options	1,006				1,006
Tax withholding related to net share settlement of equity awards (in shares)			(437,000)
Tax withholding related to net share settlement of equity awards	(6,940)		$ (1)		(6,939)
Vesting of restricted stock units (in shares)				6,535,000
Vesting of restricted stock units		$ 23,930		$ 7		$ 23,923
Issuance of Class A common stock under employee stock purchase plan (in shares)			311,000
Issuance of Class A common stock under employee stock purchase plan	3,093				3,093
Stock-based compensation expense	181,522				181,522
Other comprehensive income (loss)	1,763						1,763
Net loss	(268,839)							(268,839)
Ending Balance, shares (in shares) at Apr. 30, 2023			113,943,000
Ending Balance, Amount at Apr. 30, 2023	$ 929,665		$ 113		1,740,174		(385)	(810,237)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options (in shares)	3,033,000		3,028,000
Issuance of Class A common stock upon exercise of stock options	$ 13,710		$ 3		13,707
Vesting of early exercised Class A common stock options	507				507
Tax withholding related to net share settlement of equity awards (in shares)			(376,000)
Tax withholding related to net share settlement of equity awards	(13,220)				(13,220)
Vesting of restricted stock units (in shares)				6,248,000
Vesting of restricted stock units		$ 34,833		$ 6		$ 34,827
Issuance of Class A common stock under employee stock purchase plan (in shares)			863,000
Issuance of Class A common stock under employee stock purchase plan	10,764		$ 1		10,763
Stock-based compensation expense	176,968				176,968
Other comprehensive income (loss)	(178)						(178)
Net loss	(279,696)							(279,696)
Ending Balance, shares (in shares) at Apr. 30, 2024			123,706,000
Ending Balance, Amount at Apr. 30, 2024	$ 873,353		$ 123		$ 1,963,726		$ (563)	$ (1,089,933)

Revenue (Tables)

12 Months Ended

Apr. 30, 2024

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,
	2024		2023		2022
North America(1)	$	269,895	$	210,501	$	197,485
Europe, the Middle East and Africa(1)	35,809		47,758		46,251
Asia Pacific(1)	3,622		7,913		9,023
Rest of World(1)	1,256		623		—
Total revenue	$	310,582	$	266,795	$	252,759

__________________

Balance Sheet Details

12 Months Ended

Apr. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Details

Property and Equipment, Net

Property and equipment consisted of the following (in thousands):


	Useful Life	As of April 30,
	(in months)	2024		2023
Leasehold improvements	*	$	71,867	$	66,522
Computer equipment	36	4,936		4,901
Office furniture and equipment	60	14,479		14,343
Capital in progress	NA	12,122		3,140
Property and equipment, gross		103,404		88,906
Less: accumulated depreciation and amortization		(14,773)		(4,328)
Property and equipment, net		$	88,631	$	84,578

__________________

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

NA = Not Applicable

Capital in progress primarily consisted of costs related to various leasehold improvements in connection with leased space that is not considered available for use and has not yet been placed into service.

Depreciation and amortization expense related to property and equipment was $11.5 million, $5.0 million, and $4.4 million for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.

Accrued Compensation and Employee Benefits

Accrued compensation and employee benefits consisted of the following (in thousands):


	As of April 30,
	2024		2023
Accrued stock-settled bonus	$	31,194	$	32,414
Accrued bonus	336		186
Accrued vacation	4,317		4,602
Accrued payroll taxes and benefits	3,636		3,975
Accrued commissions	2,826		2,889
Accrued salaries	225		206
ESPP contributions	1,409		1,339
Other	320		902
Accrued compensation and employee benefits	$	44,263	$	46,513

Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following (in thousands):


	As of April 30,
	2024		2023
Liability for common stock exercised prior to vesting	$	266	$	799
Accrued general expenses	2,783		5,541
Operating lease liabilities, current	3,226		2,339
Accrued professional services	2,082		2,889
Commissions payable to a related party	—		2,448
Other	1,169		3,054
Accrued and other current liabilities	$	9,526	$	17,070

Related Party Transactions (Details)

1 Months Ended

12 Months Ended

Feb. 21, 2023

USD ($)

ft²

Oct. 31, 2021

USD ($)

Jun. 30, 2020

USD ($)

Jun. 30, 2019

Apr. 30, 2024

USD ($)

Apr. 30, 2023

USD ($)

Apr. 30, 2022

USD ($)

Aug. 25, 2021

ft²

office_tower

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

5 years

Related party revenue

$ 310,582,000

$ 266,795,000

$ 252,759,000

Total cost of revenue

132,022,000

86,337,000

63,713,000

Sales and marketing

^[1]

214,167,000

183,121,000

173,584,000

Costs to obtain and fulfill a contract, expense

7,200,000

5,900,000

5,100,000

Sub-leased space area (in square feet) | ft²

3,130

283,013

Number of office towers | office_tower

Automatic renewal term (in years)

1 year

Monthly base rent

$ 8,608

Cost of subscription

Related party revenue

^[2]

278,104,000

230,443,000

206,916,000

Total cost of revenue

^[3]

128,469,000

78,423,000

45,838,000

Professional services

Related party revenue

^[4]

32,478,000

36,352,000

45,843,000

Total cost of revenue

3,553,000

7,914,000

17,875,000

Software Subscription Agreement | Baker Hughes Company

Revenue commitment, fiscal year 2020

$ 46,700,000

Revenue commitment, fiscal year 2021

53,300,000

Revenue commitment, fiscal year 2022

75,000,000

Revenue commitment, fiscal year 2023

$ 85,000,000.0

125,000,000

Revenue commitment, fiscal year 2024

110,000,000.0

$ 150,000,000

Revenue commitment, fiscal year 2025

$ 125,000,000.0

Sales and marketing

810,000

13,962,000

8,229,000

Related Party | Cost of subscription

Related party revenue

10,581,000

75,452,000

60,425,000

Total cost of revenue

578,000

Related Party | Professional services

Related party revenue

5,804,000

16,774,000

16,872,000

Revenue commitment, term (in years)

6 years

5 years

3 years

Sales commissions, recognized as deferred costs

$ 16,000,000.0

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

5 years

Sales and marketing

800,000

14,000,000

8,200,000

Costs to obtain and fulfill a contract, expense

800,000

4,900,000

3,300,000

Sales commissions paid

16,000,000

3,400,000

Related party revenue

10,600,000

75,500,000

60,400,000

Total cost of revenue

600,000

Related party revenue

$ 5,800,000

$ 16,800,000

$ 16,900,000

[1]	Including related party sales and marketing expense of $810, $13,962 and $8,229 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[2]	Including related party revenue of $10,581, $75,452 and $60,425 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[3]	Including purchases from related party included in cost of revenue of nil, nil and $578 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[4]	Including related party revenue of $5,804, $16,774 and $16,872 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.

Cash Equivalents and Marketable Securities

12 Months Ended

Apr. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Cash Equivalents and Marketable Securities

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


	As of April 30, 2024								As of April 30, 2023
	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	$	82,564	$	—	$	—	$	82,564	$	75,293	$	—	$	—	$	75,293
Commercial paper	18,769		—		—		18,769		112,851		—		—		112,851
U.S. treasury securities	5,888		—		—		5,888		—		—		—		—

Certificates of deposit	—		—		—		—		2,000		—		—		2,000
Available-for-sale marketable securities:
U.S. treasury securities	2,497		—		—		2,497		27,445		1		(49)		27,397
Certificates of deposit	62,017		—		—		62,017		61,025		—		—		61,025
U.S. government agencies securities	46,527		5		(104)		46,428		75,650		111		(87)		75,674
Commercial paper	162,183		—		—		162,183		184,230		—		—		184,230
Corporate debt securities	310,557		64		(526)		310,095		179,608		115		(476)		179,247
Total cash equivalents and available-for-sale marketable securities	$	691,002	$	69	$	(630)	$	690,441	$	718,102	$	227	$	(612)	$	717,717

The Company considers all of its marketable securities as available for use in current operations, including those with maturity dates beyond one year, and therefore classifies these securities within current assets on the consolidated balance sheet as of April 30, 2024.

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


	As of April 30, 2024				As of April 30, 2023
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	514,747	$	514,484	$	446,629	$	446,155
After one year through five years	69,034		68,736		81,329		81,418
Total	$	583,781	$	583,220	$	527,958	$	527,573


	As of April 30, 2024
	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	$	—	$	2,497	$	—	$	—	$	—	$	2,497

U.S. government agencies securities	(99)		33,890		(6)		7,749		$	(105)	$	41,639
Commercial paper	—		4,058		—		—		$	—	$	4,058
Corporate debt securities	(491)		196,907		(34)		27,658		$	(525)	$	224,565
Total	$	(590)	$	237,352	$	(40)	$	35,407	$	(630)	$	272,759


	As of April 30, 2023
	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	$	(49)	$	18,927	$	—	$	—	$	(49)	$	18,927

U.S. government agencies securities	(66)		12,263		(21)		16,858		(87)		29,121
Commercial paper	—		6,735		—		—		—		6,735
Corporate debt securities	(441)		107,316		(36)		16,577		(476)		123,893
Total	$	(556)	$	145,241	$	(57)	$	33,435	$	(612)	$	178,676

As of April 30, 2024, the Company had 219 marketable securities in an unrealized loss positions. As of April 30, 2023, the Company had 119 investment positions in an unrealized loss position. 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. The decline in fair value below amortized cost basis was not considered other-than-temporary as it is more likely than not that the Company will hold the securities until maturity or a recovery of the cost basis, and no significant credit-related impairment losses were recorded as of April 30, 2024 and 2023.

Stockholders' Equity (Details)	1 Months Ended		12 Months Ended
Stockholders' Equity (Details)	Mar. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)	Apr. 30, 2024 USD ($) vote $ / shares shares	Apr. 30, 2023 USD ($) $ / shares shares	Apr. 30, 2022 USD ($)
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	$ 0	$ 0
Liability for common stock exercised prior to vesting \| $			$ 266,000	$ 799,000
Stock repurchase program, value of repurchase \| $					$ 15,000,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares subject to repurchase right (in shares)			43,188	148,239
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
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) \| $		$ 100,000,000
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 \| $	$ 15,000,000
Stock repurchase program, shares repurchased (in shares)			0	0
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
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 - Restricted Stock Unit Activity (Details) - RSUs - $ / shares shares in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Number of RSUs
Unvested Balance at beginning of period (in shares)	21,146	12,109
RSUs granted (in shares)	8,422	19,254
RSUs vested (in shares)	(6,248)	(6,535)
RSUs forfeited (in shares)	(4,037)	(3,682)
Unvested Balance at end of period (in shares)	19,283	21,146
Weighted Average Grant Date Fair Value Per Share
Unvested Balance at beginning of period (in dollars per share)	$ 21.32	$ 36.04
RSUs granted (in dollars per share)	33.40	16.63
RSUs vested (in dollars per share)	24.94	29.16
RSUs forfeited (in dollars per share)	26.85	31.27
Unvested Balance at end of period (in dollars per share)	$ 24.26	$ 21.32

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (279,696)	$ (268,839)	$ (192,065)
Other comprehensive (loss) income
Unrealized (loss) gain on available-for-sale marketable securities, net of tax	(178)	1,763	(2,229)
Total Comprehensive loss	$ (279,874)	$ (267,076)	$ (194,294)

- Definition

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

+ References

+ Details

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

12 Months Ended

Apr. 30, 2024

Apr. 30, 2023

Apr. 30, 2022

Cash flows from operating activities:

Net loss

$ (279,696)

$ (268,839)

$ (192,065)

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

Depreciation and amortization

12,719

6,088

5,190

Non-cash operating lease cost

742

6,992

4,185

Stock-based compensation expense

215,761

216,542

113,441

Accretion of discounts on marketable securities

(17,214)

(4,558)

1,765

Other

249

(164)

Changes in operating assets and liabilities

Accounts receivable

^[1]

4,522

(54,517)

(14,156)

Prepaid expenses, other current assets and other assets

^[2]

3,208

(576)

(14,578)

Accounts payable

^[3]

(12,883)

(22,041)

34,481

Accrued compensation and employee benefits

(6,218)

3,193

10,394

Operating lease liabilities

17,332

13,641

(3,266)

Other liabilities

^[4]

8,155

(10,573)

(5,604)

Deferred revenue

^[5]

(8,888)

(1,292)

(26,085)

Net cash used in operating activities

(62,362)

(115,691)

(86,462)

Cash flows from investing activities:

Purchases of property and equipment

(25,256)

(70,518)

(3,791)

Capitalized software development costs

(2,750)

(1,000)

(500)

Purchases of investments

(827,901)

(745,249)

(796,487)

Maturities and sales of investments

789,292

876,713

1,117,793

Net cash (used in) provided by investing activities

(66,615)

59,946

317,015

Cash flows from financing activities:

(13,220)

(6,940)

Repurchase and retirement of Class A Common stock

(15,000)

Payment of deferred offering costs

(105)

Proceeds from issuance of Class A common stock under employee stock purchase plan

10,763

3,093

Proceeds from exercise of Class A common stock options

13,751

4,468

20,816

Net cash provided by financing activities

11,294

621

5,711

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

(117,683)

(55,124)

236,264

Cash, cash equivalents and restricted cash at beginning of period

297,395

352,519

116,255

Cash and cash equivalents

167,146

284,829

339,528

Restricted cash included in prepaid expenses and other current assets

425

Restricted cash included in other assets, non-current

12,566

Cash, cash equivalents and restricted cash at end of period

179,712

297,395

352,519

Total cash, cash equivalents and restricted cash

179,712

297,395

352,519

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

975

578

939

Supplemental disclosures of non-cash investing and financing activities:

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

474

13,814

9,261

Right-of-use assets obtained in exchange for lease obligations (including remeasurement of right-of-use assets and lease liabilities due to changes in the timing of receipt of lease incentives)

1,833

(5,589)

26,529

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

3,093

1,572

Unpaid liabilities related to intangible purchases

1,500

2,500

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

Vesting of early exercised stock options

$ 507

$ 1,006

$ 2,746

[1]	Including changes in related party balances of $12,444, $38,772 and $20,668 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[2]	Including changes in related party balances of $(810), $(4,741) and $12,739 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[3]	Including changes in related party balances of $248, $(16,349) and $18,493 for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[4]	Including changes in related party balances of $(2,448), $(2,510) and $(3,350) for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.
[5]	Including changes in related party balances of $(46), $117 and $(7,565) for the fiscal years ended April 30, 2024, 2023 and 2022, respectively.

Income Taxes (Tables)

12 Months Ended

Apr. 30, 2024

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, 2024, 2023 and 2022 were as follows (in thousands):


	Fiscal Year Ended April 30,
	2024		2023		2022
Domestic	$	(282,036)	$	(270,280)	$	(189,891)
Foreign	3,132		2,116		(1,385)
Net loss before provision for income taxes	$	(278,904)	$	(268,164)	$	(191,276)

Schedule of Provision for Income Tax Expenses

The components of the Company’s provision for income taxes for the fiscal years ended April 30, 2024, 2023 and 2022 were as follows (in thousands):


	Fiscal Year Ended April 30,
	2024		2023		2022
Current expense
Federal	$	—	$	—	$	—
State	293		306		310
Foreign	499		369		479
Total	792		675		789
Deferred expense
Federal	—		—		—
State	—		—		—
Foreign	—		—		—
Total	—		—		—
Total provision for income taxes	$	792	$	675	$	789

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,
	2024		2023		2022
Expected benefit at federal statutory rate	$	(58,570)	$	(56,314)	$	(40,119)
State tax expense—net of federal benefit	292		306		310
Impact of foreign operations	(158)		(75)		770
Federal research and development credit	(3,087)		(2,489)		(1,109)
Change in valuation allowance	66,556		32,481		59,450
Stock-based compensation	(5,001)		25,806		(19,152)
Meals and entertainment	207		95		50
Other permanent items	553		865		589
Total provision for income taxes	$	792	$	675	$	789

Schedule of Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities as of April 30, 2024 and 2023 were as follows (in thousands):


	As of April 30,
	2024		2023
Deferred tax assets
Accrued payroll	$	5,542	$	3,971
Other accruals & reserves	5,933		5,815
Operating lease liability	13,433		8,868
Deferred revenue	1,643		2,221

Net operating losses	141,157		116,111
R&D tax credit	15,001		10,302
Stock based compensation	13,263		10,595
Capitalized R&D expenditure	72,140		30,696
Other	626		457
Gross deferred tax assets	268,738		189,036
Valuation allowance	(252,682)		(180,571)
Total deferred tax assets	16,056		8,465
Deferred tax liabilities
Prepaid expenses	(1,986)		(1,956)
Depreciation	(9,808)		(2,580)
Operating lease right-of-use assets	(4,262)		(3,929)
Total deferred tax liabilities	(16,056)		(8,465)
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,
	2024		2023
Balance as of May 1	$	11,369	$	7,368

Increases for tax positions related to the current year	5,179		4,001
Balance as of April 30	$	16,548	$	11,369

Balance Sheet Details - Accrued Compensation and Employee Benefits (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued stock-settled bonus	$ 31,194	$ 32,414
Accrued bonus	336	186
Accrued vacation	4,317	4,602
Accrued payroll taxes and benefits	3,636	3,975
Accrued commissions	2,826	2,889
Accrued salaries	225	206
ESPP contributions	1,409	1,339
Other	320	902
Accrued compensation and employee benefits	$ 44,263	$ 46,513

Leases - Balance Sheet Information (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023
Operating leases
Right-of-use assets	$ 18,664	$ 17,572
Lease liabilities, current	3,226	2,339
Lease liabilities, non-current	55,599	37,320
Total operating lease liabilities	$ 58,825	$ 39,659
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

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

Apr. 30, 2024

Apr. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Liability for common stock exercised prior to vesting

$ 266

$ 799

Accrued general expenses

2,783

5,541

Operating lease liabilities, current

3,226

2,339

Accrued professional services

2,082

2,889

Commissions payable to a related party

2,448

Other

1,169

3,054

Accrued and other current liabilities

^[1]

$ 9,526

$ 17,070

[1]	Including amounts due to a related party of $2,448 as of April 30, 2023.

Revenue - Customer Concentration and Accounts Receivable (Details) - Customer Concentration Risk	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Revenue \| Customer One
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	27.00%	35.00%	31.00%
Revenue \| Customer Two
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	14.00%
Accounts Receivable \| Customer One
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	25.00%	20.00%
Accounts Receivable \| Customer Two
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	16.00%	18.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Insider Trading Arrangements

3 Months Ended

12 Months Ended

Apr. 30, 2024

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

During the three months ended April 30, 2024, our directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated the contracts, instructions or written plans for the purchase or sale of our securities set forth in the table below.

Name and Position

Action

Date

Rule 10b5-1*

Non-Rule 10b5-1**

Total Shares of Common Stock to be Sold

Total Shares of Common Stock to be Purchased

Expiration Date

Edward Y. Abbo

President and Chief Technology Officer

Adoption (1)

July 3, 2024

217,612

—

December 31, 2024

Stephen M. Ward, Jr.

Director

Adoption

July 1, 2024

125,000

—

December 31, 2024

Hitesh Lath

Senior Vice President and Chief Financial Officer

Adoption

June 27, 2024

3,441

—

December 31, 2024

(1) This 10b5-1 trading arrangement was adopted by Edward Abbo, individually and as Trustee of the Abbo 2012 Children’s Trust FBO Dana Lauren Abbo U/A OTO 3/8/2021, the Abbo 2012 Children’s Trust FCO Layla Grace Abbo U/A OTO 3/8/2021, and the Abbo 2012 Children’s Trust FBO Casey Cecile Abbo U/A OTO 3/8/2021.

* Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.

** “Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K under the Exchange Act.

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Edward Y. Abbo [Member]

Trading Arrangements, by Individual

Name

Edward Y. Abbo

Title

President and Chief Technology Officer

Rule 10b5-1 Arrangement Adopted

true

Adoption Date

July 3, 2024

Arrangement Duration

181 days

Aggregate Available

217,612

Stephen M. Ward, Jr. [Member]

Trading Arrangements, by Individual

Name

Stephen M. Ward, Jr.

Title

Director

Rule 10b5-1 Arrangement Adopted

true

July 1, 2024

183 days

125,000

Trading Arrangements, by Individual

Name

Hitesh Lath

Title

Senior Vice President and Chief Financial Officer

Rule 10b5-1 Arrangement Adopted

true

Adoption Date

June 27, 2024

Arrangement Duration

187 days

Aggregate Available

3,441

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Apr. 30, 2024	Jun. 12, 2024	Oct. 31, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Apr. 30, 2024
Current Fiscal Year End Date	--04-30
Document Transition Report	false
Entity File Number	001-39744
Entity Registrant Name	C3.ai, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-3999357
Entity Address, Address Line One	1400 Seaport Blvd
Entity Address, City or Town	Redwood City,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94063
City Area Code	650
Local Phone Number	503-2200
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	AI
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1,700.0
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement relating to its 2024 annual meeting of shareholders (the “2024 Proxy Statement”) are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. The 2024 Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the registrant’s fiscal year ended April 30, 2024.
Amendment Flag	false
Entity Central Index Key	0001577526
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		121,317,784
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		3,499,992

Cash Equivalents and Marketable Securities - Narrative (Details) - investment	Apr. 30, 2024	Apr. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Number of investment positions in unrealized loss position	219	119

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance as of May 1	$ 11,369	$ 7,368
Increases for tax positions related to the current year	5,179	4,001
Balance as of April 30	$ 16,548	$ 11,369

Summary of Business and Significant Accounting Policies	12 Months Ended
Summary of Business and Significant Accounting Policies	Apr. 30, 2024
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 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 other parts 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. 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 (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange commission (the “SEC”). The consolidated financial statements include the accounts of the Company 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 U.S. 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, but are not limited to, 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, the incremental borrowing rate for operating leases, 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 2024, 2023 and 2022 relate to the fiscal years ended April 30, 2024, 2023 and 2022, respectively. Concentration of Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of cash and cash equivalents, marketable securities 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. For accounts receivable, the Company is exposed to credit risk in the event of nonpayment by customers up to the amounts recorded on the consolidated balance sheets. The Company manages its accounts receivable credit risk through ongoing credit evaluation of its customers financial conditions. The Company generally does not require collateral from its customers. See Note 2. Revenue for information regarding the Company’s significant customers 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, certificates of deposit, commercial paper and corporate debt securities as of April 30, 2024 and 2023. Restricted Cash The Company had restricted cash pledged as security deposits at April 30, 2024 and 2023 of $12.6 million and $12.6 million, respectively, representing a security deposit required by certain leases. The balance of restricted cash as of April 30, 2024 and 2023 was recorded in other assets, non-current and prepaid expenses and other current assets on the consolidated balance sheets. Marketable Securities The Company’s investments in marketable debt securities have been classified and accounted for as available-for-sale and are recorded at estimated fair value. The Company’s available-for-sale marketable securities 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. The Company considers all of its marketable securities as available for use in current operations, including those with maturity dates beyond one year, and therefore classifies these securities within current assets on the consolidated balance sheet. Purchase premiums and discounts are amortized or accreted using the effective interest method over the life of the related security and such amortization and accretion are included in interest income in the consolidated statements of operations. For available-for-sale marketable securities in an unrealized loss position, the Company first assesses whether it intends to sell or it is more likely than not that the Company will be required to sell the security before the recovery of its entire amortized cost basis. If either of these criteria is met, the security’s amortized cost basis is written down to fair value through other income (expense), net in the consolidated statements of operations. If neither of these criteria is met, the Company further assesses whether the decline in fair value below amortized cost is due to credit or non-credit related factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and any adverse conditions specifically related to the security, among other factors. Credit related unrealized losses are recognized as an allowance on the consolidated balance sheets with a corresponding charge in the other (expense) income, net in the consolidated statements of operations. Non-credit related unrealized losses and unrealized gains on available-for-sale marketable securities are reported in other comprehensive (loss) income as a separate component on the consolidated statements of comprehensive loss. Realized gains and losses are determined based on the specific-identification method and are reported in interest income 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 $0.4 million and $0.4 million was recorded as of April 30, 2024 and 2023, respectively. Accounts receivable included unbilled receivables of as of April 30, 2024 and April 30, 2023 of $62.3 million and $77.6 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. 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, prepaid software subscriptions, prepaid rent, and prepaid 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, 2024, 2023 and 2022. 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, 2024, 2023 and 2022. Leases The Company determines if an arrangement is or contains a lease at inception by evaluating various factors, including if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration and other facts and circumstances. Lease classification is determined at the lease commencement date. 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 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. In addition, the Company subleases certain of its unoccupied facilities to third parties. Any impairment to the associated right-of-use assets, leasehold improvements, or other assets as a result of a sublease is recognized in the period the sublease is executed and recorded in the consolidated statements of operations. The Company recognizes sublease income on a straight-line basis over the sublease term. Sublease income is recorded as a reduction to the Company’s operating lease costs. 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. 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. As of April 30, 2024 and 2023, capitalized software costs of $4.3 million and $3.0 million, respectively, were included in other assets, non-current on the consolidated balance sheets. The Company amortized capitalized software costs of $1.3 million, $1.1 million and $0.7 million during the fiscal years ended April 30, 2024, 2023 and 2022, respectively, and included in cost of subscription revenue in the consolidated statements of operations. 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 on the consolidated balance sheets. 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 Accounting Standards Codifications (“ASC”) Topic 606, Revenue From Contracts With Customers (“ASC 606”) for all periods presented. The core principle of ASC 606 is to recognize revenue from 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. 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 in excess of committed usage are recognized in the period when usage occurs. 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 data points that include the price at which the performance obligation has previously been sold through past transactions on a stand-alone basis, internally approved pricing guidelines and other relevant data points. If there is no observable SSP, it is estimated using judgement and considering all reasonably available information including but not limited to pricing practices, competitor pricing strategies and other observable inputs. 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 performance obligation, the Company considers 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. Revenue from software licenses that do not require maintenance and support services is recognized when the control of the software is transferred to the customer. Subscription Revenue Our subscription revenue is primarily comprised of software licenses, software-as-a-service offerings (“SaaS”) stand-ready Center of Excellence (“COE”) support services, pilots and trials of our C3 AI Applications or Generative AI, and consumption-based pricing. 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 generally include our maintenance and support services that comprise 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 performance obligation within the context of the contract and are generally satisfied over time. The Company’s subscriptions are generally offered under renewable, multi-period, fixed fee contracts where payments are typically due 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 COE support services, hosting services and trial services, which are distinct performance obligations. A description of the Company’s offerings are as follows: •The C3 AI Platform. C3 AI 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 Platform provides data scientists and application developers robust advantages for rapid application and analytics development and deployment. Customers primarily pay for the C3 AI Platform via fixed annual fees based on the number of development users allowed to access the C3 AI Platform. The C3 AI Platform offering is primarily a term subscription but at times has been sold as a perpetual license and generates additional runtime subscription fees, a form of consumption or usage-based revenue based on compute and storage resources required to run the C3 AI Platform. •C3 AI Applications. C3 AI Applications are production applications that address a wide range of predictive analytics, reporting, visualization and Generative AI 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 ML capabilities. C3 AI Applications sold without the C3 AI Platform can be in the form of term or perpetual licenses or subscriptions and earn revenue through a fixed fee or through runtime subscription fees. This includes software licenses that are prototype versions of C3 AI Applications configured for a customer and do not require maintenance and support services. •C3 Generative AI. C3 Generative AI combines the utility of LLMs, generative AI, reinforcement learning, natural language processing, and the C3 AI Platform to rapidly locate, retrieve, and present information, disparate data stores, applications, and enterprise information systems. •C3 AI Maintenance and Support Services. C3 AI Maintenance and Support Services are provided for the C3 AI 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 and enhanced utility of the software. •C3 AI COE Support Services. COE Support Services provide premium development services and support by an available pool of resources to allow the customer to utilize, extend or modify C3 AI Applications and/or to develop its own applications on the C3 AI Platform 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. •Pilots. Pilots are subscriptions for unlimited developers access to C3 AI Platform, one C3 AI Application or C3 Generative AI and COE support services of up to six-months. Following the pilot period, customers either pay a monthly fee and consumption charges using vCPU and vGPU hours as the metric to calculate payment or enter into a time-certain multi-period commitment that may include consumption charge. •Trials. Trial projects are typically fixed-price eight to 16-week product trials 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, integrate data, configure ML algorithms supporting the use case, and present the resulting insights, demonstrating a working application that shows the utility, benefit, and economic value to be gained from a production deployment. These paid trials are solely meant to demonstrate the feasibility of the Company’s offering to the customer and to encourage them to enter into a large, multi-year arrangement with the Company. Trial revenue is recognized over time during the trial period. •Hosting Services. For certain customers, the Company provides access to the C3 AI 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 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 Platform and/or C3 AI Application arrangements, including pilots and the amount of revenue recognized on a monthly basis varies based on actual consumption by the customer. 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 Platform 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. Prioritized engineering services are undertaken at the request of customers to accelerate the development of software features in C3 AI software products. These features are typically part of the Company’s product roadmap, but the customer contracts with the Company to obtain such features on a time-accelerated basis. The Company generally recognizes revenue from professional services over time as the performance obligations are satisfied. 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 Platform and/or C3 AI Applications. For pilots, the Company typically invoices customers upon execution of the contract. Monthly usage-based runtime and hosting charges are billed as they are delivered or in arrears. 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 typically 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 or provide financing. Costs to Obtain 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 to each other, 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 for renewal contracts are expensed as incurred when the expected amortization period is one year or less. Costs to obtain 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. Amortization expense is included in sales and marketing expenses in the consolidated statements of operations. Deferred commissions are periodically analyzed for impairment. Cost of Revenue Cost of subscription revenue consists primarily of fulfillment 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 Platform, 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 that are fulfilling contracts with customers, 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. The Company does not consider such assurance-type warranties as performance obligations under ASC 606. 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, restricted stock units (“RSUs”) and employee stock awards related to the Employee Stock Purchase Plan (“ESPP”) is recognized based on the fair value of the awards granted. The fair value of each option and ESPP awards are estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of 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, which are estimated as follows: Expected term—For stock options considered to be “plain vanilla” options, the Company estimates the expected term based on the simplified method, which is essentially the weighted average of the vesting period and contractual term, as the Company’s historical option exercise experience does not provide a reasonable basis upon which to estimate the expected term. The expected term for ESPP awards approximates the offering period. Expected volatility—The Company uses the average volatility of its Class A common stock and the stocks of a peer group of representative public companies to develop an expected volatility assumption. Risk-free interest rate—Risk-free rate is estimated based upon quoted market yields for the United States Treasury debt securities for a term consistent with the expected life of the awards in effect at the time of grant. Expected dividend yield—The expected dividend is assumed to be zero as the Company has never paid dividends and has no current plans to do so. Fair value of underlying common stock—Since the completion of the IPO, the fair value of the Company’s common stock is determined by the closing price, on the date of grant, of its common stock, which is traded on the New York Stock Exchange. Stock-based compensation expense is recognized following the straight-line attribution method over the requisite service period for options, and over the offering period for ESPP awards. The Company’s RSUs include time-based RSUs and performance-based RSUs with market conditions (“PRSUs”). The fair value of each time-based RSU is based on the fair value of the Company’s common stock on the date of grant. The fair value of each PRSU is measured using a Monte Carlo simulation valuation model which requires the use of various assumptions, including the stock price volatility and risk-free interest rate as of the valuation date corresponding to the length of time remaining in the performance period. Stock-based compensation expense for awards with market conditions is recognized over the requisite service period using the accelerated attribution method and is not reversed if the market condition is not met. 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. Research and Development Expenses Research and development expenses consist primarily of employee-related costs, including salaries, bonuses, benefits, and stock-based compensation for personnel involved in developing and refining platforms and applications, including adding new features and modules, increasing their functionality, and enhancing the usability of platforms and applications. Research and development expenses also include cloud infrastructure costs, other IT-related costs, and allocated overhead and depreciation for facilities. This includes certain costs related to development of features and modules created through prioritized engineering services purchased by customers where the Company retains the related intellectual property. Research and development costs are expensed as incurred. Advertising Expenses Advertising expenses of $15.8 million, $6.9 million and $51.9 million incurred during the fiscal years ended April 30, 2024, 2023 and 2022, 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, 2024, 2023 and 2022, 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 (expense) income, 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 rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. The net loss is allocated on a proportionate basis to participating securities and the resulting net loss per share attributable to common stockholders was the same for Class A and Class B common shares. 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 ESPP. 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, 2024, 2023 and 2022, was related to unrealized losses or gain from available-for-sale marketable securities, net of tax. 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, 2024 and 2023. 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. The Company expects contributions to C3.ai DTI to primarily benefit its research and development efforts. The Company recognized nil, nil and $11.5 million of expense related to the contribution in research and development for the fiscal years ended April 30, 2024, 2023 and 2022, respectively. Recently Issued Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) to improve the disclosures regarding a public entity’s reportable segments and address requests from investors for additional, more detailed information about a reportable segment’s expenses. The Company is required to adopt the guidance in the fourth quarter of fiscal 2025, though early adoption is permitted. The Company is currently evaluating the impact of this amendment on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures (“ASU 2023-09”) to provide disaggregated income tax disclosures on rate reconciliation and income taxes paid. The Company is required to adopt the guidance in the fourth quarter of fiscal 2026, though early adoption is permitted. The Company is currently evaluating the impact of this amendment on its consolidated financial statements.

Cash Equivalents and Marketable Securities - Cash Equivalents and Available-for-Sale Marketable Securities (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Cash equivalents:
Amortized Cost	$ 167,146	$ 284,829	$ 339,528
Available-for-sale marketable securities:
Total cash equivalents and available-for-sale marketable securities, Amortized Cost	691,002	718,102
Total cash equivalents and available-for-sale marketable securities, Gross Unrealized Gain	69	227
Total cash equivalents and available-for-sale marketable securities, Gross Unrealized Loss	(630)	(612)
Total cash equivalents and available-for-sale marketable securities	690,441	717,717
Money market funds
Cash equivalents:
Amortized Cost	82,564	75,293
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	82,564	75,293
Commercial paper
Cash equivalents:
Amortized Cost	18,769	112,851
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	18,769	112,851
Available-for-sale marketable securities:
Amortized Cost	162,183	184,230
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	162,183	184,230
U.S. treasury securities
Cash equivalents:
Amortized Cost	5,888	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	5,888	0
Available-for-sale marketable securities:
Amortized Cost	2,497	27,445
Gross Unrealized Gains	0	1
Gross Unrealized Losses	0	(49)
Estimated Fair Value	2,497	27,397
Certificates of deposit
Cash equivalents:
Amortized Cost	0	2,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	0	2,000
Available-for-sale marketable securities:
Amortized Cost	62,017	61,025
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	62,017	61,025
U.S. government agencies securities
Available-for-sale marketable securities:
Amortized Cost	46,527	75,650
Gross Unrealized Gains	5	111
Gross Unrealized Losses	(104)	(87)
Estimated Fair Value	46,428	75,674
Corporate debt securities
Available-for-sale marketable securities:
Amortized Cost	310,557	179,608
Gross Unrealized Gains	64	115
Gross Unrealized Losses	(526)	(476)
Estimated Fair Value	$ 310,095	$ 179,247

Income Taxes - Components of Net Loss, Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Income Tax Disclosure [Abstract]
Domestic	$ (282,036)	$ (270,280)	$ (189,891)
Foreign	3,132	2,116	(1,385)
Loss before provision for income taxes	$ (278,904)	$ (268,164)	$ (191,276)

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Summary of Business and Significant Accounting Policies (Policies)	12 Months Ended
	Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	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 (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange commission (the “SEC”).
Principles of Consolidation	The consolidated financial statements include the accounts of the Company 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 U.S. 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, but are not limited to, 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, the incremental borrowing rate for operating leases, 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 Year The 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, marketable securities 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. For accounts receivable, the Company is exposed to credit risk in the event of nonpayment by customers up to the amounts recorded on the consolidated balance sheets. The Company manages its accounts receivable credit risk through ongoing credit evaluation of its customers financial conditions. The Company generally does not require collateral from its customers. See Note 2. Revenue for information regarding the Company’s significant customers
Cash and Cash Equivalents	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.
Marketable Securities	Marketable Securities The Company’s investments in marketable debt securities have been classified and accounted for as available-for-sale and are recorded at estimated fair value. The Company’s available-for-sale marketable securities 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. The Company considers all of its marketable securities as available for use in current operations, including those with maturity dates beyond one year, and therefore classifies these securities within current assets on the consolidated balance sheet. Purchase premiums and discounts are amortized or accreted using the effective interest method over the life of the related security and such amortization and accretion are included in interest income in the consolidated statements of operations. For available-for-sale marketable securities in an unrealized loss position, the Company first assesses whether it intends to sell or it is more likely than not that the Company will be required to sell the security before the recovery of its entire amortized cost basis. If either of these criteria is met, the security’s amortized cost basis is written down to fair value through other income (expense), net in the consolidated statements of operations. If neither of these criteria is met, the Company further assesses whether the decline in fair value below amortized cost is due to credit or non-credit related factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and any adverse conditions specifically related to the security, among other factors. Credit related unrealized losses are recognized as an allowance on the consolidated balance sheets with a corresponding charge in the other (expense) income, net in the consolidated statements of operations. Non-credit related unrealized losses and unrealized gains on available-for-sale marketable securities are reported in other comprehensive (loss) income as a separate component on the consolidated statements of comprehensive loss. Realized gains and losses are determined based on the specific-identification method and are reported in interest income on the consolidated statements of operations.
Accounts Receivable	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.
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.
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 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.
Goodwill	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.
Leases	Leases The Company determines if an arrangement is or contains a lease at inception by evaluating various factors, including if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration and other facts and circumstances. Lease classification is determined at the lease commencement date. 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 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. In addition, the Company subleases certain of its unoccupied facilities to third parties. Any impairment to the associated right-of-use assets, leasehold improvements, or other assets as a result of a sublease is recognized in the period the sublease is executed and recorded in the consolidated statements of operations. The Company recognizes sublease income on a straight-line basis over the sublease term. Sublease income is recorded as a reduction to the Company’s operating lease costs. 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.
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.
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 on the consolidated balance sheets. 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 Accounting Standards Codifications (“ASC”) Topic 606, Revenue From Contracts With Customers (“ASC 606”) for all periods presented. The core principle of ASC 606 is to recognize revenue from 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. 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 in excess of committed usage are recognized in the period when usage occurs. 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 data points that include the price at which the performance obligation has previously been sold through past transactions on a stand-alone basis, internally approved pricing guidelines and other relevant data points. If there is no observable SSP, it is estimated using judgement and considering all reasonably available information including but not limited to pricing practices, competitor pricing strategies and other observable inputs. 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 performance obligation, the Company considers 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. Revenue from software licenses that do not require maintenance and support services is recognized when the control of the software is transferred to the customer. Subscription Revenue Our subscription revenue is primarily comprised of software licenses, software-as-a-service offerings (“SaaS”) stand-ready Center of Excellence (“COE”) support services, pilots and trials of our C3 AI Applications or Generative AI, and consumption-based pricing. 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 generally include our maintenance and support services that comprise 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 performance obligation within the context of the contract and are generally satisfied over time. The Company’s subscriptions are generally offered under renewable, multi-period, fixed fee contracts where payments are typically due 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 COE support services, hosting services and trial services, which are distinct performance obligations. A description of the Company’s offerings are as follows: •The C3 AI Platform. C3 AI 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 Platform provides data scientists and application developers robust advantages for rapid application and analytics development and deployment. Customers primarily pay for the C3 AI Platform via fixed annual fees based on the number of development users allowed to access the C3 AI Platform. The C3 AI Platform offering is primarily a term subscription but at times has been sold as a perpetual license and generates additional runtime subscription fees, a form of consumption or usage-based revenue based on compute and storage resources required to run the C3 AI Platform. •C3 AI Applications. C3 AI Applications are production applications that address a wide range of predictive analytics, reporting, visualization and Generative AI 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 ML capabilities. C3 AI Applications sold without the C3 AI Platform can be in the form of term or perpetual licenses or subscriptions and earn revenue through a fixed fee or through runtime subscription fees. This includes software licenses that are prototype versions of C3 AI Applications configured for a customer and do not require maintenance and support services. •C3 Generative AI. C3 Generative AI combines the utility of LLMs, generative AI, reinforcement learning, natural language processing, and the C3 AI Platform to rapidly locate, retrieve, and present information, disparate data stores, applications, and enterprise information systems. •C3 AI Maintenance and Support Services. C3 AI Maintenance and Support Services are provided for the C3 AI 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 and enhanced utility of the software. •C3 AI COE Support Services. COE Support Services provide premium development services and support by an available pool of resources to allow the customer to utilize, extend or modify C3 AI Applications and/or to develop its own applications on the C3 AI Platform 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. •Pilots. Pilots are subscriptions for unlimited developers access to C3 AI Platform, one C3 AI Application or C3 Generative AI and COE support services of up to six-months. Following the pilot period, customers either pay a monthly fee and consumption charges using vCPU and vGPU hours as the metric to calculate payment or enter into a time-certain multi-period commitment that may include consumption charge. •Trials. Trial projects are typically fixed-price eight to 16-week product trials 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, integrate data, configure ML algorithms supporting the use case, and present the resulting insights, demonstrating a working application that shows the utility, benefit, and economic value to be gained from a production deployment. These paid trials are solely meant to demonstrate the feasibility of the Company’s offering to the customer and to encourage them to enter into a large, multi-year arrangement with the Company. Trial revenue is recognized over time during the trial period. •Hosting Services. For certain customers, the Company provides access to the C3 AI 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 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 Platform and/or C3 AI Application arrangements, including pilots and the amount of revenue recognized on a monthly basis varies based on actual consumption by the customer. 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 Platform 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. Prioritized engineering services are undertaken at the request of customers to accelerate the development of software features in C3 AI software products. These features are typically part of the Company’s product roadmap, but the customer contracts with the Company to obtain such features on a time-accelerated basis. The Company generally recognizes revenue from professional services over time as the performance obligations are satisfied. 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 Platform and/or C3 AI Applications. For pilots, the Company typically invoices customers upon execution of the contract. Monthly usage-based runtime and hosting charges are billed as they are delivered or in arrears. 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 typically 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 or provide financing. Costs to Obtain 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 to each other, 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 for renewal contracts are expensed as incurred when the expected amortization period is one year or less. Costs to obtain 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. Amortization expense is included in sales and marketing expenses in the consolidated statements of operations. Deferred commissions are periodically analyzed for impairment.
Cost of Revenue	Cost of Revenue Cost of subscription revenue consists primarily of fulfillment 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 Platform, 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 that are fulfilling contracts with customers, 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. The Company does not consider such assurance-type warranties as performance obligations under ASC 606. To date, the Company has not incurred material costs as a result of its warranties and indemnifications.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense related to stock option awards, restricted stock units (“RSUs”) and employee stock awards related to the Employee Stock Purchase Plan (“ESPP”) is recognized based on the fair value of the awards granted. The fair value of each option and ESPP awards are estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the input of 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, which are estimated as follows: Expected term—For stock options considered to be “plain vanilla” options, the Company estimates the expected term based on the simplified method, which is essentially the weighted average of the vesting period and contractual term, as the Company’s historical option exercise experience does not provide a reasonable basis upon which to estimate the expected term. The expected term for ESPP awards approximates the offering period. Expected volatility—The Company uses the average volatility of its Class A common stock and the stocks of a peer group of representative public companies to develop an expected volatility assumption. Risk-free interest rate—Risk-free rate is estimated based upon quoted market yields for the United States Treasury debt securities for a term consistent with the expected life of the awards in effect at the time of grant. Expected dividend yield—The expected dividend is assumed to be zero as the Company has never paid dividends and has no current plans to do so. Fair value of underlying common stock—Since the completion of the IPO, the fair value of the Company’s common stock is determined by the closing price, on the date of grant, of its common stock, which is traded on the New York Stock Exchange. Stock-based compensation expense is recognized following the straight-line attribution method over the requisite service period for options, and over the offering period for ESPP awards. The Company’s RSUs include time-based RSUs and performance-based RSUs with market conditions (“PRSUs”). The fair value of each time-based RSU is based on the fair value of the Company’s common stock on the date of grant. The fair value of each PRSU is measured using a Monte Carlo simulation valuation model which requires the use of various assumptions, including the stock price volatility and risk-free interest rate as of the valuation date corresponding to the length of time remaining in the performance period. Stock-based compensation expense for awards with market conditions is recognized over the requisite service period using the accelerated attribution method and is not reversed if the market condition is not met. 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.
Research and Development Expenses	Research and Development Expenses Research and development expenses consist primarily of employee-related costs, including salaries, bonuses, benefits, and stock-based compensation for personnel involved in developing and refining platforms and applications, including adding new features and modules, increasing their functionality, and enhancing the usability of platforms and applications. Research and development expenses also include cloud infrastructure costs, other IT-related costs, and allocated overhead and depreciation for facilities. This includes certain costs related to development of features and modules created through prioritized engineering services purchased by customers where the Company retains the related intellectual property. Research and development costs are expensed as incurred.
Advertising Expenses	Advertising Expenses Advertising expenses of $15.8 million, $6.9 million and $51.9 million incurred during the fiscal years ended April 30, 2024, 2023 and 2022, respectively, were expensed as incurred as a component of sales and marketing expenses on the consolidated statements of operations.
401(k) Plan	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.
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 (expense) income, 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 rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. The net loss is allocated on a proportionate basis to participating securities and the resulting net loss per share attributable to common stockholders was the same for Class A and Class B common shares. 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 ESPP. 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 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.
Contribution Accounting	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. The Company expects contributions to C3.ai DTI to primarily benefit its research and development efforts.
Recently Issued Accounting Standards Not Yet Adopted	Recently Issued Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) to improve the disclosures regarding a public entity’s reportable segments and address requests from investors for additional, more detailed information about a reportable segment’s expenses. The Company is required to adopt the guidance in the fourth quarter of fiscal 2025, though early adoption is permitted. The Company is currently evaluating the impact of this amendment on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures (“ASU 2023-09”) to provide disaggregated income tax disclosures on rate reconciliation and income taxes paid. The Company is required to adopt the guidance in the fourth quarter of fiscal 2026, though early adoption is permitted. The Company is currently evaluating the impact of this amendment on its consolidated financial statements.

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

Apr. 30, 2024

Apr. 30, 2023

Accounts receivable, allowance

$ 359

Accounts receivable, net, from related party

^[1]

130,064

134,586

Prepaid expenses and other current assets, from related party

^[2]

23,963

23,309

Other assets, non-current, from related party

^[3]

44,575

47,528

Accounts payable, from related party

^[4]

11,316

24,610

Deferred revenue, current, from related party

^[5]

37,230

47,846

Accrued and other current liabilities, from related party

^[6]

$ 9,526

17,070

74,620

Prepaid expenses and other current assets, from related party

4,983

Other assets, non-current, from related party

11,279

Accounts payable, from related party

2,200

Deferred revenue, current, from related party

249

Accrued and other current liabilities, from related party

$ 2,448

Class A Common Stock

Common stock, par value (in dollars per share)

$ 0.001

Common stock, shares authorized (in shares)

1,000,000,000

Common stock, shares issued (in shares)

120,205,931

110,442,569

Common stock, shares outstanding (in shares)

120,205,931

110,442,569

Class B Common Stock

Common stock, par value (in dollars per share)

$ 0.001

Common stock, shares authorized (in shares)

3,500,000

Common stock, shares issued (in shares)

3,499,992

Common stock, shares outstanding (in shares)

3,499,992

[1]	Including amounts from a related party of $74,620 as of April 30, 2023.
[2]	Including amounts from a related party of $4,983 as of April 30, 2023.
[3]	Including amounts from a related party of $11,279 as of April 30, 2023.
[4]	Including amounts due to a related party of $2,200 as of April 30, 2023
[5]	Including amounts from a related party of $249 as of April 30, 2023.
[6]	Including amounts due to a related party of $2,448 as of April 30, 2023.

Balance Sheet Details (Tables)

12 Months Ended

Apr. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Property and Equipment

Property and equipment consisted of the following (in thousands):


	Useful Life	As of April 30,
	(in months)	2024		2023
Leasehold improvements	*	$	71,867	$	66,522
Computer equipment	36	4,936		4,901
Office furniture and equipment	60	14,479		14,343
Capital in progress	NA	12,122		3,140
Property and equipment, gross		103,404		88,906
Less: accumulated depreciation and amortization		(14,773)		(4,328)
Property and equipment, net		$	88,631	$	84,578

__________________

*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 (in thousands):


	As of April 30,
	2024		2023
Accrued stock-settled bonus	$	31,194	$	32,414
Accrued bonus	336		186
Accrued vacation	4,317		4,602
Accrued payroll taxes and benefits	3,636		3,975
Accrued commissions	2,826		2,889
Accrued salaries	225		206
ESPP contributions	1,409		1,339
Other	320		902
Accrued compensation and employee benefits	$	44,263	$	46,513

Schedule of Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following (in thousands):


	As of April 30,
	2024		2023
Liability for common stock exercised prior to vesting	$	266	$	799
Accrued general expenses	2,783		5,541
Operating lease liabilities, current	3,226		2,339
Accrued professional services	2,082		2,889
Commissions payable to a related party	—		2,448
Other	1,169		3,054
Accrued and other current liabilities	$	9,526	$	17,070

Income Taxes - Effective Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Income Tax Disclosure [Abstract]
Expected benefit at federal statutory rate	$ (58,570)	$ (56,314)	$ (40,119)
State tax expense—net of federal benefit	292	306	310
Impact of foreign operations	(158)	(75)	770
Federal research and development credit	(3,087)	(2,489)	(1,109)
Change in valuation allowance	66,556	32,481	59,450
Stock-based compensation	(5,001)	25,806	(19,152)
Meals and entertainment	207	95	50
Other permanent items	553	865	589
Provision for income taxes	$ 792	$ 675	$ 789

Income Taxes

12 Months Ended

Apr. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

The components of the Company’s net loss before provision for income taxes for the fiscal years ended April 30, 2024, 2023 and 2022 were as follows (in thousands):


	Fiscal Year Ended April 30,
	2024		2023		2022
Domestic	$	(282,036)	$	(270,280)	$	(189,891)
Foreign	3,132		2,116		(1,385)
Net loss before provision for income taxes	$	(278,904)	$	(268,164)	$	(191,276)

The components of the Company’s provision for income taxes for the fiscal years ended April 30, 2024, 2023 and 2022 were as follows (in thousands):


	Fiscal Year Ended April 30,
	2024		2023		2022
Current expense
Federal	$	—	$	—	$	—
State	293		306		310
Foreign	499		369		479
Total	792		675		789
Deferred expense
Federal	—		—		—
State	—		—		—
Foreign	—		—		—
Total	—		—		—
Total provision for income taxes	$	792	$	675	$	789

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


	Fiscal Year Ended April 30,
	2024		2023		2022
Expected benefit at federal statutory rate	$	(58,570)	$	(56,314)	$	(40,119)
State tax expense—net of federal benefit	292		306		310
Impact of foreign operations	(158)		(75)		770
Federal research and development credit	(3,087)		(2,489)		(1,109)
Change in valuation allowance	66,556		32,481		59,450
Stock-based compensation	(5,001)		25,806		(19,152)
Meals and entertainment	207		95		50
Other permanent items	553		865		589
Total provision for income taxes	$	792	$	675	$	789

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, 2024 and 2023 were as follows (in thousands):


	As of April 30,
	2024		2023
Deferred tax assets
Accrued payroll	$	5,542	$	3,971
Other accruals & reserves	5,933		5,815
Operating lease liability	13,433		8,868
Deferred revenue	1,643		2,221

Net operating losses	141,157		116,111
R&D tax credit	15,001		10,302
Stock based compensation	13,263		10,595
Capitalized R&D expenditure	72,140		30,696
Other	626		457
Gross deferred tax assets	268,738		189,036
Valuation allowance	(252,682)		(180,571)
Total deferred tax assets	16,056		8,465
Deferred tax liabilities
Prepaid expenses	(1,986)		(1,956)
Depreciation	(9,808)		(2,580)
Operating lease right-of-use assets	(4,262)		(3,929)
Total deferred tax liabilities	(16,056)		(8,465)
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, 2024 and 2023 was $252.7 million and $180.6 million, respectively. The increase of $72.1 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 and capitalized R&D expenses.

As of April 30, 2024 and 2023, the Company had net operating loss carryforwards for federal income tax purposes of approximately $599.3 million and $487.6 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 $18.8 million, will expire beginning in 2032 if not utilized. Federal charitable contribution carryforwards of approximately $25.6 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, 2024 and 2023, the Company had net operating loss carryforwards for state income tax purposes of approximately $249.3 million and $187.8 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 $14.2 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,
	2024		2023
Balance as of May 1	$	11,369	$	7,368

Increases for tax positions related to the current year	5,179		4,001
Balance as of April 30	$	16,548	$	11,369

As of April 30, 2024, $0.1 million of unrecognized tax benefits, if recognized, would impact the Company’s effective income tax rate. 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, 2024 and 2023, 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.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Fair Value Measurements

12 Months Ended

Apr. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company’s financial instruments consist primarily of cash equivalents, restricted cash, available-for-sale marketable securities, accounts receivable, and accounts payable. Cash equivalents and available-for-sale marketable securities are reported at their respective fair values on the consolidated balance sheets. 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, 2024								As of April 30, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	82,564	$	—	$	—	$	82,564	$	75,293	$	—	$	—	$	75,293
Commercial paper	—		18,769		—		18,769		—		112,851		—		112,851
U.S. treasury securities	—		5,888		—		5,888		—		—		—		—

Certificates of deposit	—		—		—		—		—		2,000		—		2,000
Available-for-sale marketable securities:
U.S. treasury securities	—		2,497		—		2,497		—		27,397		—		27,397
Certificates of deposit	—		62,017		—		62,017		—		61,025		—		61,025
U.S. government agencies securities	—		46,428		—		46,428		—		75,674		—		75,674
Commercial paper	—		162,183		—		162,183		—		184,230		—		184,230
Corporate debt securities	—		310,095		—		310,095		—		179,247		—		179,247
Total cash equivalents and available-for-sale marketable securities	$	82,564	$	607,877	$	—	$	690,441	$	75,293	$	642,424	$	—	$	717,717

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.

- Definition

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

Revenue - Disaggregated Revenue by Geographic Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 310,582	$ 266,795	$ 252,759
North America
Disaggregation of Revenue [Line Items]
Total revenue	269,895	210,501	197,485
Europe, the Middle East and Africa
Disaggregation of Revenue [Line Items]
Total revenue	35,809	47,758	46,251
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	3,622	7,913	9,023
Rest of World
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,256	$ 623	$ 0
United States \| Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Geographic concentration risk, percentage	86.00%	79.00%	78.00%