C3.ai (AI) Cost of Revenue (2020 - 2026)
C3.ai's Cost of Revenue came in at $35.71 million for fiscal Q1 2027 (quarter ended Jul 31, 2026), down 18.5% from $43.82 million a year earlier and down 11.3% from the prior quarter.
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Analysis
C3.ai (AI) Cost of Revenue (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jul 31, 2026, C3.ai reported Cost of Revenue of $164.78 million, up 1.7% year-over-year; for FY2026 (ended Apr 30, 2026), it came in at $172.89 million, up 12.9% from FY2025.
- Cost of Revenue has increased in each of the last seven fiscal years, with a five-year compound annual growth rate of 31.2% (FY2021 to FY2026).
- Going back by fiscal year, Cost of Revenue was $153.19 million in FY2025 (+16.0%), $132.02 million in FY2024 (+52.9%), $86.34 million in FY2023 (+35.5%) and $63.71 million in FY2022 (+43.1%).
- The fiscal Q1 2027 figure represents the lowest quarterly Cost of Revenue since fiscal Q1 2025.
- Year-over-year, Cost of Revenue increased in six of the last eight quarters, with growth averaging 11.2%.
- The fastest year-over-year change in Cost of Revenue over five years came in fiscal Q1 2024 (growth of 72.8%), and the weakest in fiscal Q1 2027 (a decline of 18.5%).
- Business Quant data shows AI's Cost of Revenue at $40.28 million (Q4 2026), $44.03 million (Q3 2026) and $44.77 million (Q2 2026) in the three fiscal quarters before Q1 2027.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 328.64 Bn | 313.71 Bn | 2.30 Bn | 1.11 Bn |
| 2 | CrowdStrike Holdings | 276.50 Bn | 256.94 Bn | 1.10 Bn | 374.00 Mn |
| 3 | Fortinet | 132.74 Bn | 118.67 Bn | 1.64 Bn | 404.70 Mn |
| 4 | Snowflake | 120.19 Bn | 107.50 Bn | 1.04 Bn | 510.08 Mn |
| 5 | Datadog | 99.51 Bn | 81.15 Bn | 881.34 Mn | 240.11 Mn |
| 6 | Okta | 35.35 Bn | 25.44 Bn | 641.00 Mn | 164.00 Mn |
| 7 | Axon Enterprise | 33.58 Bn | 28.10 Bn | 546.45 Mn | 357.94 Mn |
| 8 | Zscaler | 32.06 Bn | 18.18 Bn | - | - |
| 9 | MongoDB | 28.84 Bn | 19.30 Bn | 569.77 Mn | 202.01 Mn |
| 10 | C3.ai | 1.71 Bn | -815.39 Mn | 16.67 Mn | 35.71 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 35.71 Mn |
| Apr 30, 2026 | 40.28 Mn |
| Jan 31, 2026 | 44.03 Mn |
| Oct 31, 2025 | 44.77 Mn |
| Jul 31, 2025 | 43.82 Mn |
| Apr 30, 2025 | 41.21 Mn |
| Jan 31, 2025 | 40.44 Mn |
| Oct 31, 2024 | 36.50 Mn |
| Jul 31, 2024 | 35.05 Mn |
| Apr 30, 2024 | 34.98 Mn |
| Jan 31, 2024 | 33.11 Mn |
| Oct 31, 2023 | 32.12 Mn |
| Jul 31, 2023 | 31.81 Mn |
| Apr 30, 2023 | 24.91 Mn |
| Jan 31, 2023 | 22.27 Mn |
| Oct 31, 2022 | 20.75 Mn |
| Jul 31, 2022 | 18.41 Mn |
| Apr 30, 2022 | 17.36 Mn |
| Jan 31, 2022 | 17.35 Mn |
| Oct 31, 2021 | 15.97 Mn |
API Access
C3.ai Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=AI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "AI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=AI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();