C3.ai vs i3 Verticals
C3.ai reported revenue of $250 million in fiscal 2026, 1.2 times i3 Verticals' $213 million in fiscal 2025. C3.ai's revenue fell 35.7% in its latest year, and i3 Verticals' grew 11.5%. C3.ai had an operating margin of -199.2%, against 1.8% at i3 Verticals. Free cash flow was −$192 million at C3.ai and $4 million at i3 Verticals. Their fiscal years end in different months (April 30 and September 30), so the periods don't line up exactly.
Side by side
| C3.ai | i3 Verticals | |
|---|---|---|
| Latest fiscal year | FY2026, Apr 30, 2026 | FY2025, Sep 30, 2025 |
| Revenue | $250M | $213M |
| Revenue growth | −35.7% | 11.5% |
| Revenue growth a year, last 5 years | 6.4% | 7.3% |
| Gross margin | 30.9% | — |
| Operating margin | −199.2% | 1.8% |
| Net margin | −187.9% | 8.4% |
| Free cash flow | −$192M | $4M |
| Free cash flow margin | −76.8% | 1.8% |
| Return on capital | — | 0.4% |
| Net debt to EBITDA | — | −2.1x |
| Dividends and buybacks | $0M | $38M |
| Change in diluted share count | 8.8% | 0.9% |
| Last close | $11.69 | $19.07 |
| P/E at the last close | — | — |
| Insider trades, last 12 months | bought $302,300, sold $70.2 million | bought $961,500, sold $704,639 |
| Piotroski F-score | — | 5 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
C3.aii3 Verticals
Operating margin
Percent of revenue
C3.aii3 Verticals
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
C3.aii3 Verticals
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the C3.ai and i3 Verticals pages.