🔹 Revenue: $70.3M (Est. $94.5M) 🔴
🔹 Adj. EPS: ($0.37) (Est. -$0.20) 🔴
🔹 Stephen Ehikian appointed CEO effective Sept 1, 2025
Q2 Guidance
🔹 Revenue: $72M–$80M (Est. $99.6M) 🔴
🔹 Non-GAAP Loss from Operations: ($49.5M)–($57.5M)
Full-Year Guidance
🔹 Previous FY26 guidance withdrawn; updated outlook to be provided with Q2 results
Other Q1 Metrics:
🔹 Subscription Revenue: $60.3M (86% of total)
🔹 Subscription + Prioritized Eng. Services: $69.0M (98% of total)
🔹 Gross Profit: $26.4M (GAAP, 38% margin); $36.3M (Non-GAAP, 52% margin)
🔹 Cash Balance: $712M
Business Highlights
🔹 46 agreements closed in Q1, including 28 initial production deployments
🔹 Expanded agreements with Nucor, Koch, Quest Diagnostics, U.S. Army, U.S. Navy, Missile Defense Agency, among others
🔹 Federal sector: 12 agreements, ~28% of total bookings
🔹 Strategic Integrator Program launched; strong OEM partner interest
🔹 40 agreements closed via partner network; Microsoft partnership drove 140% YoY pipeline growth
🔹 Generative AI: 9 agreements closed, with measurable customer benefits (e.g., 20% productivity gains, 85%+ reductions in contract review/analysis times)
Leadership Update
🔹 Founder Thomas Siebel transitions to Executive Chairman
CEO Commentary
🔸 Thomas Siebel: “The bad news is Q1 performance was completely unacceptable. The good news is we’ve restructured sales and services with new leadership, and with a talented new CEO in place, I am confident the company is positioned to accelerate going forward.”