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C3.ai Inc. released preliminary first-quarter revenue that fell far short of analysts’ estimates and restructured its sales management team. The shares fell about 20% in overnight trading.
Sales are expected to be about $70.3 million in the period ended July 31, the software company said Friday in a statement. Analysts, on average, estimated $104.3 million.
C3.ai said it would release the quarterly results and discuss 2026 guidance on Sept. 3. The shares dropped to less than $19 after closing at $22.13. The stock has declined 36% this year.