C3.ai Inc (AI) 2022 Q3 法說會逐字稿

Good afternoon, and thank you for attending today's C3 AI Third Quarter Fiscal Earnings Call. My name is Amber, and I will be your moderator for today's call. (Operator Instructions) It's now my pleasure to hand the conference over to our host, Paul Phillips with C3 AI. Paul, please proceed.

下午好，感謝您參加今天的 C3 AI 第三季度財報電話會議。我的名字是 Amber，我將擔任今天電話會議的主持人。 （操作員說明）現在我很高興將會議交給我們的主持人，使用 C3 AI 的 Paul Phillips。保羅，請繼續。

Good afternoon, and welcome to C3 AI's earnings call for the third quarter of fiscal year 2022, which ended January 31, '22. My name is Paul Phillips, and I'm the Vice President of Investor Relations. With me on the call today is Tom Siebel, Chairman and Chief Executive Officer.

下午好，歡迎參加 C3 AI 的 2022 財年第三季度財報電話會議，該電話會議於 22 年 1 月 31 日結束。我的名字是保羅菲利普斯，我是投資者關係副總裁。今天與我通話的是董事長兼首席執行官湯姆·西貝爾。

After the market closed today, we issued a press release with details regarding our third quarter results as well as a supplement to our results both of which can be accessed on the Investor Relations section of our website at ir.c3.ai. This call is being webcast, and a replay will be available on our IR website following the conclusion of the call.

今天市場收盤後，我們發布了一份新聞稿，其中包含有關我們第三季度業績的詳細信息以及對我們業績的補充，這兩者都可以在我們網站 ir.c3.ai 的投資者關係部分訪問。本次電話會議正在進行網絡直播，電話會議結束後將在我們的 IR 網站上進行重播。

During today's call, we will make statements relating to our business that may be considered forward-looking under federal securities laws. These statements reflect our views only as of today and should not be considered representative of our views as of any subsequent date. We disclaim any obligation to update any forward-looking statements or outlook. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations. For a further discussion of the material risks and other important factors that could affect our actual results, please refer to our filings with the SEC.

在今天的電話會議中，我們將就我們的業務做出根據聯邦證券法可能被視為前瞻性的聲明。這些陳述僅反映我們截至今天的觀點，不應被視為代表我們在任何後續日期的觀點。我們不承擔更新任何前瞻性陳述或展望的任何義務。這些陳述受到各種風險和不確定性的影響，可能導致實際結果與預期存在重大差異。有關可能影響我們實際結果的重大風險和其他重要因素的進一步討論，請參閱我們向美國證券交易委員會提交的文件。

Also, during the course of today's call, we will refer to certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in our press release. Finally, at times in our prepared comments and response to your questions, we may discuss metrics that are incremental to our usual presentation to give greater insight into the dynamics of our business or our quarterly results. Please be advised that we may or may not continue to provide this additional detail in the future.

此外，在今天的電話會議中，我們將參考某些非公認會計準則財務指標。我們的新聞稿中包含 GAAP 與非 GAAP 措施的對賬。最後，有時在我們準備好的評論和對您問題的回復中，我們可能會討論與我們通常的演示相比增加的指標，以便更深入地了解我們的業務動態或季度業績。請注意，我們將來可能會或可能不會繼續提供此附加詳細信息。

With that, let me turn the call over to Tom for his prepared remarks. Tom?

有了這個，讓我把電話轉給湯姆，讓他準備好發言。湯姆?

Thank you, Paul. And hi, everybody. Thank you for joining us today. I'm very pleased to give you a briefing on the results of the quarter that we recently concluded. It was a great quarter. Our third quarter results displayed strength in all aspects of our business, including revenue growth of 42% year-over-year. New business activity was exceptionally strong. Our results were driven by substantially increased sales momentum, due to the successful refocusing of our sales organization, continually expanding customer count, the continual expansions of the C3 application footprints within existing customers, and increased industry diversification for our AI products and sales.

謝謝你，保羅。大家好。感謝您今天加入我們。我很高興向您介紹我們最近結束的季度業績。這是一個很棒的季度。我們第三季度的業績在我們業務的各個方面都顯示出實力，包括收入同比增長 42%。新業務活動異常強勁。由於我們的銷售組織成功重新定位、客戶數量不斷擴大、現有客戶中 C3 應用程序足蹟的不斷擴大以及我們的 AI 產品和銷售的行業多元化增加，我們的業績得到了大幅增長的推動。

Highlights of the third quarter include revenue. Total revenue for the quarter was $69.8 million, an increase of 42% year-over-year. Subscription revenue for the quarter was $57.1 million, an increase of 34%. Customer count increased 82% year-over-year to 218. Non-GAAP gross profit for the quarter was $55.8 million and 80% gross margin. And significantly, our GAAP RPO now represents 168% of Q3 annualized sales.

第三季度的亮點包括收入。本季度總收入為 6980 萬美元，同比增長 42%。本季度訂閱收入為 5710 萬美元，增長 34%。客戶數量同比增長 82% 至 218 個。本季度非 GAAP 毛利潤為 5580 萬美元，毛利率為 80%。重要的是，我們的 GAAP RPO 現在佔第三季度年化銷售額的 168%。

Let me touch on customer wins and expansions. Business from contracts executed in the quarter showed substantially increased industry diversification. 32% was from utilities, 30% of our business was from chemical industry, 20% from agribusiness, 12% from financial services. I've spoken in the past about our emphasis to increase our business with small and medium customers, and I'm pleased to report that we made excellent progress in that regard. During the quarter, we executed 12 agreements of less than $1 million; 3 contracts between $1 million and $5 million; 2 transactions between $5 million and $10 million and 3 agreements in the range of $10 million to $50 million.

讓我談談客戶的勝利和擴展。本季度執行的合同業務顯示行業多元化大幅增加。 32% 來自公用事業，30% 來自化學工業，20% 來自農業綜合企業，12% 來自金融服務。我過去曾談到我們重視增加與中小型客戶的業務，我很高興地報告我們在這方面取得了顯著進展。本季度，我們執行了 12 項低於 100 萬美元的協議； 3份100萬至500萬美元的合同； 2 項 500 萬美元至 1000 萬美元之間的交易和 3 項 1000 萬美元至 5000 萬美元之間的協議。

Shell, which is one of our largest customers, continues to expand its C3 application footprint with over 10,000 devices currently monitored by C3 AI machine learning models and 23 large-scale assets in production deployment, including Pernis, the largest refinery in Europe and Nigeria LNG. Understand it's an asset, we're not talking about here by a pump or we're not talking about a valve. By asset we're talking about Pernis. Pernis, for those who you know, this is the largest refinery in Europe. I think they process 0.5 billion barrels of oil a day, and this would be an asset the size of, say, order of magnitude of, say, 10 aircraft carriers. So that's what they call an asset.

殼牌是我們最大的客戶之一，它繼續擴大其 C3 應用足跡，目前有超過 10,000 台設備由 C3 AI 機器學習模型監控，23 項大規模資產正在生產部署，包括歐洲最大的煉油廠 Pernis 和尼日利亞 LNG .了解它是一種資產，我們在這裡不是在談論泵，也不是在談論閥門。通過資產，我們談論的是 Pernis。 Pernis，對於你認識的人來說，這是歐洲最大的煉油廠。我認為他們每天處理 5 億桶石油，這將是一項規模相當於 10 艘航空母艦的資產。所以這就是他們所說的資產。

And there are 23 assets that size currently in production. Shell currently processes 1.3 trillion predictions per month with the C3 AI Suite. And Shell expanded both the duration and the scale of its contractual relationship with C3 during the quarter. The Department of Defense awarded C3 AI a 5-year $500 million transaction agreement, accelerating the ability for any DoD agency to acquire the company's suite of enterprise AI application products and services basically without an RFP and without competitive bidding.

目前有 23 種資產在生產中。殼牌目前使用 C3 AI 套件每月處理 1.3 萬億次預測。殼牌在本季度擴大了與 C3 的合同關係的期限和規模。國防部授予 C3 AI 一份為期 5 年、價值 5 億美元的交易協議，加速了任何國防部機構基本無需 RFP 和競標即可獲得該公司的企業 AI 應用產品和服務套件的能力。

We achieved a new production deployment with the Defense Counterintelligence and Security Agency and secured additional business with the U.S. Space Force. LyondellBasell, one of the world's largest plastics and chemical company, signed a 5-year significantly expanded contract to accelerate the deployment of additional enterprise AI and machine learning applications across the company.

我們與國防反情報和安全局達成了新的生產部署，並與美國太空部隊獲得了更多業務。 LyondellBasell 是世界上最大的塑料和化工公司之一，簽署了一份為期 5 年的大幅擴展合同，以加速在整個公司內部署更多的企業 AI 和機器學習應用程序。

Royal Philips, a global leader in health technology, closed a new and expanded contract with C3 to enhance resiliency, visibility and agility for Philips supply chains across the company's North American operations. Cargill substantially increased and extended its C3 AI contract to expand its deployment of C3 AI Supply Chain Suite applications. ENGIE, our energy services partner, expanded the use and extended the term of its C3 AI contract to deliver a broader range of AI-enabled end-to-end energy and sustainability think ESG solutions to serve both the public and private sectors.

健康技術的全球領導者皇家飛利浦與 C3 簽訂了一份新的擴展合同，以增強飛利浦整個北美業務的供應鏈的彈性、可見性和敏捷性。嘉吉大幅增加並延長了其 C3 AI 合同，以擴大其 C3 AI 供應鏈套件應用程序的部署。我們的能源服務合作夥伴 ENGIE 擴大了其 C3 AI 合同的使用範圍並延長了期限，以提供更廣泛的支持 AI 的端到端能源和可持續發展思維 ESG 解決方案，為公共和私營部門提供服務。

Swift, the global provider of secured financial messaging services, expanded its relationship with C3 AI, leveraging the C3 AI Financial Services Suite. Our business activity with our joint venture alliance partner, BakerHughesC3.ai continues to accelerate globally. I'll talk more about that later, and our customer count increased substantially year-over-year.

全球安全金融信息服務提供商 Swift 利用 C3 AI 金融服務套件擴展了與 C3 AI 的關係。我們與合資聯盟合作夥伴 BakerHughesC3.ai 的業務活動在全球範圍內繼續加速。稍後我將對此進行更多討論，我們的客戶數量同比大幅增加。

Touch upon a few other corporate highlights. Sales in the third fiscal quarter, the company successfully refocused its sales organizations to its traditional strategic accounts engagement model, delivering immediate and positive results. Leadership, C3 AI appointed Lisa Davis to its Board of Directors. Lisa is a recognized global leader in industrial and energy industry, bringing more 30 years' experience to the company. She has served in various capacities and leadership positions with several of the world's largest corporations, including Texaco and Shell and as CEO of Siemens Gas and Power.

觸及其他一些公司亮點。在第三財季的銷售中，該公司成功地將其銷售組織重新聚焦於其傳統的戰略客戶參與模式，取得了立竿見影的積極成果。領導層，C3 AI 任命 Lisa Davis 為董事會成員。 Lisa 是工業和能源行業公認的全球領導者，為公司帶來了超過 30 年的經驗。她曾在包括德士古和殼牌在內的幾家世界最大的公司擔任過各種職務和領導職務，並擔任過西門子天然氣和電力公司的首席執行官。

We received some very significant AI tailwinds in the federal sector when the President signed into law in December, the fiscal year 2022 National Defense Authorization Act. And in that act, Section 227 requires that "the Secretary of Defense shall ensure that to the maximum extent practicable, commercial artificial intelligence companies are able to offer platform, services and applications and tools to the Department of Defense components through processes under Part 12 of the Federal Acquisition Regulations." We believe this represents a secular change in procurement policies for AI solutions for DoD requiring primacy in the selection and use of commercial off-the-shelf software solutions from commercial vendors like C3 AI rather than traditional custom development by custom project-specific developers that have been largely proven to be unsuccessful. We believe this will help to continue to accelerate C3 AI's federal business in the coming years.

當總統於 12 月簽署法律，即 2022 財年國防授權法案時，我們在聯邦部門收到了一些非常重要的 AI 順風。在該法案中，第 227 節要求“國防部長應確保商業人工智能公司能夠通過第 12 部分的流程向國防部組件提供平台、服務、應用程序和工具。聯邦採購條例。”我們認為，這代表了國防部人工智能解決方案採購政策的長期變化，需要優先選擇和使用來自 C3 AI 等商業供應商的商業現成軟件解決方案，而不是由具有在很大程度上被證明是不成功的。我們相信這將有助於在未來幾年繼續加速 C3 AI 的聯邦業務。

Importantly, C3 AI opened a new software development and professional services center in Guadalajara, Mexico. We plan to hire as many as 1,000 senior software and service engineers in Mexico over the next few years. C3 AI is making this investment to meet the growing global demand for enterprise AI applications and associated services and because the talent pool in Guadalajara is amongst the best in the world.

重要的是，C3 AI 在墨西哥瓜達拉哈拉開設了一個新的軟件開發和專業服務中心。我們計劃未來幾年在墨西哥招聘多達 1,000 名高級軟件和服務工程師。 C3 AI 進行這項投資是為了滿足全球對企業 AI 應用程序和相關服務不斷增長的需求，因為瓜達拉哈拉的人才庫是世界上最好的。

Comment on cash reserves. With $1.02 billion in cash, cash equivalents and investments, C3 AI is well positioned to continue to invest in market leadership through enterprise AI innovation and brand equity and sales expansion.

評論現金儲備。 C3 AI 擁有 10.2 億美元的現金、現金等價物和投資，能夠通過企業 AI 創新、品牌資產和銷售擴張繼續投資於市場領導地位。

Let me talk for a minute about go-to-market partners. Our most significant go-to-market partners are Microsoft, AWS, Google Cloud and Baker Hughes. Microsoft, we have closed over $250 million in business with Microsoft to date. As I speak, we are currently engaged in over 50 active joint customer discussions. Our qualified joint pipeline that we're ordering together globally is massive. AWS, year-to-date, we've closed over $70 million volume business with AWS, and our AWS joint selling activity has increased substantially in the public sector.

讓我談談進入市場的合作夥伴。我們最重要的上市合作夥伴是微軟、AWS、谷歌云和貝克休斯。微軟，迄今為止，我們已經與微軟達成了超過 2.5 億美元的業務。正如我所說，我們目前正在進行 50 多次積極的聯合客戶討論。我們在全球範圍內一起訂購的合格聯合管道非常龐大。 AWS，年初至今，我們已經與 AWS 完成了超過 7000 萬美元的交易量，我們在公共部門的 AWS 聯合銷售活動大幅增加。

Google Cloud, a relatively new partnership. We have 42 joint prospects in active engagement today. Google has assigned a team of 11 full-time professionals to coordinate sales activities with C3. We may literally daily to coordinate sales activities. Google is a platinum sponsor at C3 Transform, our International Users Group conference that will take place in March in Miami. And Thomas Kurian, the Google GCP CEO will be delivering a plenary keynote address at that conference. Baker Hughes remains our most strategic partner. They are also a platinum sponsor of C3 Transform. They will also be delivering a plenary keynote.

谷歌云，一個相對較新的合作夥伴。今天，我們有 42 個聯合潛在客戶積極參與。 Google 已指派了一個由 11 名全職專業人員組成的團隊與 C3 協調銷售活動。我們可以從字面上每天協調銷售活動。 Google 是 C3 Transform 的白金贊助商，這是我們將於 3 月在邁阿密舉行的國際用戶組會議。谷歌 GCP 首席執行官 Thomas Kurian 將在該會議上發表全體主題演講。貝克休斯仍然是我們最具戰略意義的合作夥伴。他們也是 C3 Transform 的白金贊助商。他們還將發表全體主題演講。

As you know, in Q3, they expanded their partnership agreement with C3 to substantially increase both the term and the amount of their commitment to us. In the third quarter, 32% of our business was closed through the BakerHughesC3.ai partnership. That's up from 17% or 18% a year ago, and in dollar value, that represents a 700% growth year-over-year. To be clear, all of the business in the partnership in Q3 from the Baker Hughes partnership came from third-party users. None of the business came -- none of the growth in RPO came from Baker Hughes. Baker Hughes currently have 60 full-time professionals coordinating selling with us. Our pipeline and joint sales activities with which we are gauged remains quite healthy.

如您所知，在第三季度，他們擴大了與 C3 的合作協議，以大幅增加他們對我們的承諾的期限和數量。在第三季度，我們 32% 的業務通過 BakerHughesC3.ai 合作夥伴關係關閉。這比一年前的 17% 或 18% 有所上升，以美元價值計算，同比增長 700%。需要明確的是，貝克休斯合作夥伴關係在第三季度的合作夥伴關係中的所有業務都來自第三方用戶。沒有任何業務出現——RPO 的增長沒有來自貝克休斯。貝克休斯目前有 60 名全職專業人員與我們協調銷售。我們衡量我們的管道和聯合銷售活動仍然相當健康。

Let me address one more time the -- I'll talk about the addressable market. We are looking at a huge addressable market. Recent data from IDC suggests that the total addressable market for enterprise AI software is exceptionally large to the tune of $365 billion this year and expected to exceed $590 billion in 2025. We believe that C3 AI is, if not the largest, certainly one of the largest participants in this rapidly growing market segment. We continue to be focused on establishing and maintaining market leadership and we believe the company is on track to achieve that objective. Bottom line, it was a great quarter. Sales, growth, partnering, technology leadership and the company is back on track.

讓我再談一次——我會談談目標市場。我們正在尋找一個巨大的潛在市場。 IDC 的最新數據表明，今年企業 AI 軟件的潛在市場規模異常龐大，達到 3650 億美元，預計到 2025 年將超過 5900 億美元。我們認為，C3 AI 即使不是最大的，也肯定是其中之一在這個快速增長的細分市場中最大的參與者。我們將繼續專注於建立和保持市場領先地位，我們相信公司正在實現這一目標。最重要的是，這是一個很棒的季度。銷售、增長、合作、技術領導力和公司重回正軌。

I wanted to inform you also that last Friday, the company accepted the resignation of Adeel Manzoor, our CFO of 12 weeks, who resigned for entirely personal reasons. Due to the sensitivity of the personal issues involved, we will have no further comment on this matter. That being said, I am pleased to inform you that Juho Parkkinen, our highly experienced Controller and Chief Accounting Officer, has been promoted to the role of acting CFO effective immediately. You'll find that Juho has exceptional expertise and experience in all matters accounting as it relates to C3 AI.

我還想通知您，上週五，公司接受了我們為期 12 週的首席財務官 Adeel Manzoor 的辭職，他的辭職完全是出於個人原因。由於涉及的個人問題的敏感性，我們將不對此事做進一步評論。話雖如此，我很高興地通知您，我們經驗豐富的財務總監兼首席會計官 Juho Parkkinen 已晉升為代理首席財務官，立即生效。您會發現 Juho 在與 C3 AI 相關的所有會計事務方面擁有非凡的專業知識和經驗。

And with that, I am pleased to turn that over to my colleague, Juho, to provide additional color on the quarter. Juho?

有了這個，我很高興把它交給我的同事 Juho，為這個季度提供更多的色彩。朱霍？

Thanks, Tom. I'll start with a review of our third quarter results. And following that, I'll provide our outlook for the fourth quarter and full fiscal year '22, then we'll be happy to take your questions. First, let's start with the third quarter results. Total revenue for the quarter was $69.8 million, up 42% year-over-year and above our guidance range of $66 million to $68 million.

謝謝，湯姆。我將從回顧我們的第三季度業績開始。在此之後，我將提供我們對第四季度和整個 22 財年的展望，然後我們很樂意回答您的問題。首先，讓我們從第三季度的業績開始。本季度總收入為 6980 萬美元，同比增長 42%，高於我們 6600 萬美元至 6800 萬美元的指導範圍。

Subscription revenue was $57.1 million, up 34% year-over-year. Subscription revenue was approximately 82% of total revenue in the third quarter compared to 87% a year ago. Professional services revenue was $12.7 million. As Tom mentioned earlier, for the third quarter, remaining performance obligations or GAAP RPO, increased by 90% on a year-over-year basis to $469.3 million, up from $247.5 million last year, of which $171.6 million is expected to be recognized over the next 12 months and the remainder thereafter.

訂閱收入為 5710 萬美元，同比增長 34%。第三季度訂閱收入約佔總收入的 82%，而去年同期為 87%。專業服務收入為 1270 萬美元。正如湯姆之前提到的，第三季度的剩餘履約義務或 GAAP RPO 同比增長 90% 至 4.693 億美元，高於去年的 2.475 億美元，其中 1.716 億美元預計將在接下來的 12 個月和之後的剩餘時間。

Non-GAAP RPO increased by 81% to $536.7 million, up from $295.9 million last year. The RPO growth reflects a healthy industry mix as Tom mentioned in his earlier remarks. Baker Hughes-related RPO growth to third-party companies contributed 32% of total growth in RPO compared to 18% a year ago period. As of Q3 FY '22, customer count increased to 218, up 82% year-over-year. We believe this reflects the success of our go-to-market strategy of entering into large enterprise agreements with our customer entities and expanding within those customer entities. During the quarter, we performed an analysis of our customer entity usage and found that our previous customer count did not capture all the distinct divisions, departments, business units or groups within customer entities that are using our software or services.

Non-GAAP RPO 增長 81% 至 5.367 億美元，高於去年的 2.959 億美元。正如湯姆在之前的講話中提到的那樣，RPO 的增長反映了健康的行業組合。貝克休斯與第三方公司相關的 RPO 增長貢獻了 RPO 總增長的 32%，而去年同期為 18%。截至 22 財年第三季度，客戶數量增加到 218 個，同比增長 82%。我們認為，這反映了我們與客戶實體簽訂大型企業協議並在這些客戶實體內擴展的市場戰略的成功。在本季度，我們對客戶實體使用情況進行了分析，發現我們之前的客戶數量並未涵蓋使用我們軟件或服務的客戶實體中的所有不同部門、部門、業務單位或組。

As part of the earnings release under section Other Metrics, we have provided the apples-to-apples comparison of customer count using the appropriate calculation. You will see that we have previously undercounted our customers. We will present the revised calculation of customer on a go-forward basis as we believe this provides more clarity and accuracy.

作為其他指標部分下的收益發布的一部分，我們使用適當的計算提供了客戶數量的蘋果對蘋果的比較。你會看到我們以前低估了我們的客戶。我們將在前進的基礎上提供修改後的客戶計算，因為我們相信這會提供更多的清晰度和準確性。

Moving down the income statement. I will be discussing all metrics on a non-GAAP basis unless otherwise noted. As a reminder, our non-GAAP amounts exclude stock-based compensation expense and the employer portion of payroll tax expense related to stock transactions. A GAAP to non-GAAP reconciliation is provided with our earnings press release.

向下移動損益表。除非另有說明，否則我將在非 GAAP 基礎上討論所有指標。提醒一下，我們的非公認會計原則金額不包括基於股票的薪酬費用和與股票交易相關的工資稅費用的雇主部分。我們的收益新聞稿提供了 GAAP 與非 GAAP 的對賬。

Gross profit was $55.8 million in the third quarter, an increase of 50% from a year ago, primarily driven by revenue growth from new and existing contracts. Gross margin was 80% compared to 76% a year ago. This improvement reflects the inherent leverage in our operating model as our business continues to scale. Subscription gross margin in the quarter was 83%, in line with 84% one year ago, and professional services gross margin was 66% compared to 21% a year ago. Operating expenses were $71.5 million, up 45% from a year ago, reflecting our continuous and planned investments in research and development, brand awareness and sales and marketing. We expect to continue to invest aggressively in sales and marketing and R&D to expand our market share and increase our presence in target industry verticals and geographic markets while continuing to extend our technology leadership position as the enterprise AI software company. All of these initiatives will drive growth in our business. Total operating loss was $15.7 million in the third quarter.

第三季度毛利潤為 5580 萬美元，同比增長 50%，主要受新合同和現有合同收入增長的推動。毛利率為 80%，而一年前為 76%。隨著我們的業務不斷擴大，這種改進反映了我們運營模式的內在影響力。本季度訂閱毛利率為 83%，與一年前的 84% 持平，專業服務毛利率為 66%，而一年前為 21%。運營費用為 7150 萬美元，比一年前增長 45%，反映了我們在研發、品牌知名度以及銷售和營銷方面的持續和計劃投資。我們預計將繼續大力投資於銷售和營銷以及研發，以擴大我們的市場份額並增加我們在目標行業垂直和地理市場的影響力，同時繼續擴大我們作為企業人工智能軟件公司的技術領先地位。所有這些舉措都將推動我們業務的增長。第三季度總運營虧損為 1570 萬美元。

Turning to our balance sheet and cash flows. We ended the quarter with $1.02 billion in cash, cash equivalents and investments with no debt. Operating cash flow for the quarter was an outflow of $55.4 million and after capital expenditures of $0.8 million, free cash outflow was $56.2 million. At quarter-end, deferred revenue was $59.4 million compared to $62.3 million in the prior year. We are well positioned to continue to invest in our growth and execute on our growth strategy.

轉向我們的資產負債表和現金流。我們在本季度末擁有 10.2 億美元的現金、現金等價物和無債務投資。本季度的運營現金流為流出 5540 萬美元，扣除 80 萬美元的資本支出後，自由現金流為 5620 萬美元。在季度末，遞延收入為 5940 萬美元，而去年同期為 6230 萬美元。我們有能力繼續投資於我們的增長並執行我們的增長戰略。

Turning to our guidance for the fourth quarter and full year of fiscal '22. Our growing diversified customer base and increased sales momentum reinforces our confidence as we look forward. For the fourth quarter, we expect total revenue in the range of $71 million to $72 million, representing a growth of 36% to 38% from a year ago. We expect to continue to invest in R&D and sales and marketing that will drive the future growth of our business and anticipate a non-GAAP operating loss between $34 million and $30 million.

轉向我們對 22 財年第四季度和全年的指導。我們不斷增長的多元化客戶群和增長的銷售勢頭增強了我們對未來的信心。對於第四季度，我們預計總收入在 7100 萬美元至 7200 萬美元之間，同比增長 36% 至 38%。我們預計將繼續投資於研發、銷售和營銷，這將推動我們業務的未來增長，並預計非 GAAP 運營虧損在 3400 萬美元至 3000 萬美元之間。

For the full year of fiscal '22, we are increasing our revenue guidance to the range of $251 million to $252 million, representing a growth of 37% to 38%. We anticipate a non-GAAP operating loss in the range of $94 million to $90 million, an improvement from our prior guidance. In addition, the early indicators for Q1 fiscal '23 have us expect a similar total revenue as for Q4 fiscal '22 and for the full year fiscal '23, the analyst consensus is in line with our growth expectations.

對於 22 財年的全年，我們將收入指導提高到 2.51 億美元至 2.52 億美元之間，增長 37% 至 38%。我們預計非公認會計原則的運營虧損在 9400 萬美元至 9000 萬美元之間，比我們之前的指導有所改善。此外，23 財年第一季度的早期指標使我們預計總收入與 22 財年第四季度和 23 財年全年的總收入相似，分析師的共識與我們的增長預期一致。

In summary, we're pleased to report third quarter results that were ahead of our guidance ranges. We are excited about our current sales momentum and customer growth as well as diversification, all of which supports our outlook for the remainder of fiscal '22 and beyond.

總之，我們很高興報告超出我們指導範圍的第三季度業績。我們對我們目前的銷售勢頭和客戶增長以及多元化感到興奮，所有這些都支持我們對 22 財年剩餘時間及以後的展望。

With that, I'll turn the call over to the operator for questions. Operator?

有了這個，我會把電話轉給接線員提問。操作員？

(Operator Instructions) Our first question comes from Pat Walravens with JPMorgan.

（操作員說明）我們的第一個問題來自摩根大通的 Pat Walravens。

It's JMP, it's not JPMorgan. But -- so Mr. Parkkinen, congratulations on the promotion. If you don't mind, I'd like to start with a question for you, and then I'll do one for Tom. And also, thank you, by the way, for giving us a rough idea of what next year should look like. It's very helpful. But the third CFO in a very short period of time. So the question everyone is going to have is are you comfortable that there are no accounting or financial reporting issues at C3?

是 JMP，不是摩根大通。但是 - Parkkinen 先生，祝賀你升職。如果你不介意的話，我想先問你一個問題，然後再給湯姆做一個。另外，順便說一句，謝謝你讓我們大致了解明年應該是什麼樣子。這很有幫助。但在很短的時間內第三位CFO。所以每個人都會遇到的問題是，您對 C3 沒有會計或財務報告問題感到滿意嗎？

Yes, thank you for that question. Yes, I've been here for a little over a year. I joined as the Vice President of Accounting, very quickly assumed the role of a Controller. In December, I was promoted to be Chief Accounting Officer. And I've been intimately involved with all the financial statements ever since I joined. I have no concerns whatsoever that all of our financials are top-notch and in line with generally accepted accounting principles.

是的，謝謝你提出這個問題。是的，我來這裡一年多了。我加入時擔任會計副總裁，很快就擔任了財務總監的角色。 12月，我被提升為首席會計官。自從我加入以來，我一直密切參與所有財務報表。我完全不擔心我們所有的財務狀況都是一流的，並且符合公認的會計原則。

I'd like to also add that we have a very, very qualified accounting team. Just in the past year, we've enhanced the capabilities internally significantly, including multiple CPAs, lots of big fore background, lots of master's degrees as well as we use external providers to help us in various technical accounting topics. So overall, I think our accounting is in top shape, and the financial statements are in top shape.

我還想補充一點，我們有一個非常非常合格的會計團隊。就在過去的一年裡，我們在內部顯著增強了能力，包括多名註冊會計師、大量的大前科背景、大量的碩士學位以及我們使用外部供應商來幫助我們解決各種技術會計主題。所以總的來說，我認為我們的會計處於最佳狀態，財務報表處於最佳狀態。

Okay. Great. That's very helpful. And then Tom, given the just tragic situation that's unfolding in the Ukraine, it seems to me the biggest opportunity in the place that C3 can possibly do the most good is by helping our Department of Defense and maybe that of our allies. So if you could -- to the extent you can, if you can discuss the opportunity there, I think that would be interesting.

好的。偉大的。這很有幫助。然後湯姆，鑑於烏克蘭正在發生的悲劇性局勢，在我看來，C3 可能發揮最大作用的最大機會就是幫助我們的國防部，也許是我們的盟友。因此，如果您可以- 在可以的範圍內，如果您可以在那裡討論機會，我認為這會很有趣。

Great question, Pat. I think that business activity that we're seeing in the U.S. federal area in the defense intelligence community is very significant. This change in federal procurement policy is very significant, basically mandating the Secretary of Defense put in procedures in place to ensure that commercial software is considered first. And right now, the DoD has 600 build-it-yourself projects. So this affects all 600 of those projects. We are very actively engaged with the Department of the Army, the Department of the Air Force and with some of the intelligence agencies in some very large projects. We just received, as you know, $0.5 billion transaction authorization, making it very easy for these departments to opt to procure with us. So we are expanding that business in a very substantial way.

好問題，帕特。我認為我們在美國聯邦地區的國防情報界看到的商業活動非常重要。聯邦採購政策的這一變化非常重要，基本上要求國防部長制定程序以確保首先考慮商業軟件。而現在，國防部有 600 個自己建造的項目。所以這會影響所有 600 個項目。我們非常積極地與陸軍部、空軍部和一些情報機構合作，參與一些非常大的項目。如您所知，我們剛剛收到了 5 億美元的交易授權，這使得這些部門很容易選擇與我們進行採購。因此，我們正在以非常實質性的方式擴展該業務。

General Ed. Cardon joining us, the Head of Federal Systems, H.R. McMaster recently joining our Advisory Board, Condi Rice on the Board. I think you'll see some additional significant additions to the Federal Advisory team. And I think we're going to be very, very well positioned to help serve the United States federal government and the Department of Defense. And to the extent that we have the opportunity to do so, we consider it a privilege. So I think that looks like a big opportunity, and we are very focused on it.

埃德將軍。 Cardon 加入了我們，聯邦系統負責人 H.R. McMaster 最近加入了我們的顧問委員會，Condi Rice 加入了董事會。我認為您會看到聯邦諮詢團隊的一些額外重要補充。而且我認為我們將非常非常有能力幫助為美國聯邦政府和國防部服務。在我們有機會這樣做的範圍內，我們認為這是一種特權。所以我認為這看起來是一個很大的機會，我們非常關注它。

Our next question comes from Jamie Shelton with Deutsche Bank.

我們的下一個問題來自德意志銀行的 Jamie Shelton。

Can you hear me okay?

你能聽到我的聲音嗎？

You're loud and clear, Jamie.

你大聲而清晰，傑米。

Brilliant. I'm on for Patrick Colville. Just a quick one for me. I noticed customer entities ticked down by 3 sequentially. If possible could you provide any additional color there, if there is any.

傑出的。我支持帕特里克科爾維爾。對我來說只是一個快速的。我注意到客戶實體依次減少了 3 個。如果可能的話，你能在那裡提供任何額外的顏色，如果有的話。

Jamie, this is Juho. So the customer entities numbers, our starting premise is that we only count as a customer entity or a customer, any such entity that had revenue in the period. So as in our life cycle of a customer, there can be trials in a given quarter that would be included in the customer into the account for that quarter. And at the following quarter, the customer may not yet be ready to convert to an application or a platform purchase. So it could -- they could show up 1 quarter after again on the customer count. So you would be expected to see this type of ups and downs in individual quarters. But overall, the customer entity trend should be going up into the right.

傑米，這是朱霍。所以客戶實體的數量，我們的起始前提是我們只算作客戶實體或客戶，任何在此期間有收入的實體。因此，在我們客戶的生命週期中，可以在給定的季度進行試驗，這些試驗將包含在該季度的客戶帳戶中。在下一季度，客戶可能還沒有準備好轉換為應用程序或平台購買。所以它可以——他們可以在一個季度後再次出現在客戶數量上。因此，預計您會在各個季度看到這種類型的起伏。但總體而言，客戶實體的趨勢應該是向右走。

Brilliant. Very clear. And sorry, just one more, if I may. Could you quickly unpack your expectations for subscription versus services growth? Because one is clearly outperforming the other? I mean, how do you kind of look at that going forward?

傑出的。非常清楚。抱歉，如果可以的話，就再來一個。您能否快速解開您對訂閱與服務增長的期望？因為一個明顯優於另一個？我的意思是，你如何看待未來的發展？

I think Jamie, you can expect, and we've been pretty consistent in that. I mean, you're going to expect to see that services are going to be in the 15% to 20% range from quarter-to-quarter. And we clearly are a computer software company. We are not a services company. We are focused on staying a computer software company. And we continue to outsource a lot of the services business we do rather than take that revenue ourselves. So that will be the strategy. But you can it's going to kind of bounce around the 15% to 20% range from quarter-to-quarter as it has.

我認為傑米，你可以期待，我們在這方面一直很一致。我的意思是，你會期望看到服務將在 15% 到 20% 的範圍內從一個季度到另一個季度。我們顯然是一家計算機軟件公司。我們不是一家服務公司。我們專注於保持一家計算機軟件公司。我們繼續外包我們所做的許多服務業務，而不是自己獲取收入。所以這將是策略。但是你可以從季度到季度在 15% 到 20% 的範圍內反彈。

There are no further questions in queue. (Operator Instructions) Our next question comes from Sanjit Singh with Morgan Stanley.

隊列中沒有其他問題。 （操作員說明）我們的下一個問題來自摩根士丹利的 Sanjit Singh。

Tom, I had a question. I really appreciate the detail on some of the deal sizes. And I think you talked to a dozen or so deals under $1 million, which is pretty unusual for C3, but something you guys were pointing in that direction, too. For those customers or for those deals, what are those customers buying? Is that sort of Ex Machina driving those deals? Is it kind of the -- starting off with a single app? Any sort of context on what those sub $1 million deals as that sort of composed with.

湯姆，我有一個問題。我真的很欣賞一些交易規模的細節。而且我認為你談了十幾筆低於 100 萬美元的交易，這對 C3 來說是很不尋常的，但你們也指出了這個方向。對於那些客戶或那些交易，這些客戶在購買什麼？是那種 Ex Machina 推動了這些交易嗎？是不是從一個應用程序開始？任何關於這些低於 100 萬美元的交易的背景信息。

I think there are 3 categories of them, Sanjit. The biggest second there is going to be trials, okay? So we're -- we tend to do paid trials. And they're normally in $400,000 to $600,000 range for a paid trial. Sometimes for a simple trial of proof-of-concept, they will pay $250,000, but that fits in there. And the idea that we would do a trial and the trial being successful that will then convert to a larger enterprise license agreement 1 or 2 or 3 quarters down after the termination of the trial. And then the second category is going to be certainly less than $1 million would be most Ex Machina transactions. And that's really the bulk of it. I mean, sometimes, somebody wants to buy a little bit of professional services work or something like that. But really those first 2 really do cover it. And we'd expect to see that segment, the mix increase going forward.

我認為其中有 3 類，Sanjit。最大的第二個將是試驗，好嗎？所以我們 - 我們傾向於進行付費試用。付費試用的價格通常在 400,000 美元到 600,000 美元之間。有時，為了進行簡單的概念驗證試驗，他們會支付 250,000 美元，但這很合適。以及我們將進行試驗並且試驗成功的想法，然後將在試驗終止後的 1 或 2 或 3 個季度後轉換為更大的企業許可協議。然後第二類肯定會少於 100 萬美元，這將是大多數 Ex Machina 交易。這確實是其中的大部分。我的意思是，有時，有人想購買一些專業服務工作或類似的東西。但實際上前兩個確實涵蓋了它。我們希望看到這一細分市場，未來的混合增長。

Right. And so my follow-up question, Tom, is now that you've -- now that we've sort of gone back to that traditional strategic account model and you have sort of new business working again, if I take a pretty simplistic framework and say, federal business, DoD, federal government, that opportunity and then the enterprise opportunity. It seems to me that the enterprise opportunity is fragmented, right? There's tons of players there. And the sort of direction on terms of how buyers want to sort of consume AI still being sort of pushed out. And so the spirit of the question is that when you think about kind of the near term opportunity for growth over the next say 12 to 24 months, should we expect C3 to really double down on federal being the primary driver of growth? Or do you expect that to continue to be sort of a continued balance between both the government business and the nongovernment business?

正確的。所以我的後續問題，湯姆，現在你已經 - 現在我們已經回到了傳統的戰略客戶模型，如果我採用一個非常簡單的框架，你的新業務又開始運作了比如說，聯邦企業、國防部、聯邦政府、那個機會，然後是企業機會。在我看來，企業機會是碎片化的，對吧？那裡有很多玩家。而關於購買者希望如何消費人工智能的方向仍然被排除在外。所以這個問題的精神是，當你考慮在接下來的 12 到 24 個月內的短期增長機會時，我們是否應該期望 C3 真的將聯邦作為增長的主要驅動力加倍？或者您是否期望這將繼續成為政府業務和非政府業務之間的持續平衡？

Great question. Thank you for asking, and the answer is absolutely not, okay? We do not see ourselves as a federal contractor, okay? Because to the extent that we're very active again in discussions with the federal government to the extent that we have the opportunity to say, we're very pleased to do so. I think that federal is going to be 15% of our business, okay, in a steady state in the long run, U.S. Federal, okay? And the balance will be APAC, EMEA and think -- of the balance, I think, 40% North America, 40% EMEA and 20% APAC, ex China, where we don't do business. And so those are absolutely, we are not becoming a federal contractor.

好問題。謝謝你的提問，答案絕對不是，好嗎？我們不認為自己是聯邦承包商，好嗎？因為如果我們再次非常積極地與聯邦政府進行討論，我們有機會說，我們很高興這樣做。我認為聯邦將占我們業務的 15%，好吧，從長遠來看，處於穩定狀態，美國聯邦，好嗎？餘下的將是亞太地區、歐洲、中東和非洲地區，我認為剩下的部分是北美 40%、歐洲、中東和非洲地區 40% 和亞太地區 20%（中國除外），我們不在那裡開展業務。所以這些是絕對的，我們不會成為聯邦承包商。

Our next question comes from Mark Murphy with JPMorgan.

我們的下一個問題來自摩根大通的 Mark Murphy。

Tom, we've had just now Snowflake, and we've had a number of other data and analytics and infrastructure companies that are mentioning a slowdown in consumption trend over the holidays and into January. And there's been a bit of this passing through lower CPU pricing from Amazon and some of the other cloud platforms that's impacting some of these companies. So I'm just curious, based on the pretty good strength of your guidance, should we assume that you did not see any type of slowdown either on the consumption side, I realize it might not impact you directly, but -- or with more users taking longer vacations, anything along those lines?

湯姆，我們剛剛有了 Snowflake，我們還有許多其他數據、分析和基礎設施公司都提到了假期和 1 月份消費趨勢的放緩。亞馬遜和其他一些雲平台降低了 CPU 定價，影響了其中一些公司。所以我只是好奇，基於你的指導的相當好的力量，如果我們假設你在消費方面沒有看到任何類型的放緩，我意識到它可能不會直接影響你，但是 - 或者更多用戶休假更長，有什麼類似的嗎？

Well, 42%, I think you can assume that we exceeded any guidance that we gave and any guidance and way above any consensus guidance we might not have been above yours Mark because I know you always give us a high number. We're quite pleased with 42% growth. I mean that's way into the upper decile of rapidly growing software companies. And I think that right now, as it looks -- as we look at what next year looks like, we're comfortable with the consensus guidance that's out there that I think is about 33%. And that's kind of where we are. And so we're -- so I don't think -- we're not seeing a noticeable slowdown. No, sir.

好吧，42%，我認為您可以假設我們超出了我們提供的任何指導以及任何指導和超出任何共識指導的方式，我們可能不會高於您的標記，因為我知道您總是給我們很高的數字。我們對 42% 的增長感到非常滿意。我的意思是，在快速發展的軟件公司中，這已經進入了高十分位。而且我認為，就目前而言，當我們看看明年的情況時，我們對我認為大約 33% 的共識指導感到滿意。這就是我們所處的位置。所以我們 - 所以我不認為 - 我們沒有看到明顯的放緩。不，先生。

Yes. And just to clarify, yes, it's all above my numbers, which were probably pretty in line.

是的。只是為了澄清，是的，這一切都在我的數字之上，這可能是相當一致的。

Even your numbers, I didn't know that was possible, okay.

即使是你的數字，我也不知道這是可能的，好吧。

Yes, that happened. But yes, I just wanted to try to clarify or to kind of draw that contrast, but it didn't seem like you saw that this probably running around.

是的，發生了。但是，是的，我只是想嘗試澄清或畫出這種對比，但您似乎沒有看到這可能會到處亂跑。

I think our growth rate, we should be in the upper decile next year of rapidly growing software companies.

我認為我們的增長速度，我們應該在明年快速增長的軟件公司的上十分位。

Yes, yes. Okay. My other question is...

是的是的。好的。我的另一個問題是...

By the way as it will be this year.

順便說一句，今年將如此。

Yes. Okay. My other question is the -- I'd like to ask this from time to time, but the commodity price for oil and gas, right, has just gone vertical, I think, in a way that we haven't seen in quite a long time. And so since you have the exposure there, is there anything worth mentioning in terms of the pipeline? Is that -- does that feel like it's tangibly flowing through into more ability to spend for those oil and gas customers?

是的。好的。我的另一個問題是——我想不時問這個問題，但石油和天然氣的商品價格，對，我認為，以一種我們從未見過的方式垂直很久。那麼既然你在那裡有曝光，那麼在管道方面有什麼值得一提的嗎？那是不是感覺它正在切實地流入為那些石油和天然氣客戶花費更多的能力？

I mean that's absolute yes, okay, with the exception of oil and gas companies in Russia, okay? So honestly, if we look at Q4 and Q1, okay, we were expecting -- we have been working some time in some business that we expected to see a close in Russia. And I think that at this point, the last time I checked on CNBC, the probability of that closing was pretty low, like I think we can put a 0 on that. And so that is kind of -- so that's what's kind of moderates our, moderates Q4 and Q1 a little bit, but -- so there's 3 deals that are in Russia that are not going to happen in our lifetimes now. But the rest of the oil and gas business -- I assume it doesn't happen in our lifetime. The -- but the rest of the oil and gas business, I mean, these people, I think we can expect to see them invest at a greater rate.

我的意思是絕對是的，好吧，除了俄羅斯的石油和天然氣公司，好嗎？老實說，如果我們看看第四季度和第一季度，好吧，我們期待 - 我們已經在一些我們預計會在俄羅斯結束的業務上工作了一段時間。而且我認為在這一點上，我最後一次在 CNBC 上查看時，關閉的可能性非常低，就像我認為我們可以把它放在 0 上一樣。所以這有點——這就是我們的緩和，第四季度和第一季度的緩和，但是——在俄羅斯有 3 筆交易現在不會發生在我們的有生之年。但石油和天然氣業務的其餘部分——我認為這不會在我們有生之年發生。 - 但石油和天然氣業務的其他部分，我的意思是，這些人，我認為我們可以期待看到他們以更高的速度進行投資。

Okay. Is it safe to assume that, that nets out positively, if it's 3 deals that won't happen and the rest is in good shape?

好的。是否可以安全地假設，如果 3 筆交易不會發生而其餘的交易狀況良好，那麼這會產生積極的影響？

Yes.

是的。

Our next question comes from Jamie Shelton with Deutsche Bank.

我們的下一個問題來自德意志銀行的 Jamie Shelton。

Apologies, guys. I had no question. All good here.

抱歉，伙計們。我毫無疑問。這裡一切都好。

Our next question comes from Mike Cikos of Needham & Company.

我們的下一個問題來自 Needham & Company 的 Mike Cikos。

Thanks for getting me on here with the Q&A. I apologize if this has been discussed previously, but I've been jumping back and forth between a few earnings calls tonight. I wanted to ask about the sales reorganization and the refocusing. I know that you guys have talked about the realignment. Is there anything that you could point to, to help us better -- from a data point perspective, to help us contemplate improvements in either sales activity or improved productivity from the sales reorg that you guys had discussed in the previous quarter?

感謝您讓我參加問答環節。如果之前已經討論過這個問題，我深表歉意，但我今晚在幾次財報電話會議之間來回跳來跳去。我想問一下銷售重組和重新聚焦的問題。我知道你們已經談到了重組。您有什麼可以指出的，以更好地幫助我們 - 從數據點的角度來看，以幫助我們考慮改善銷售活動或從你們在上一季度討論的銷售重組中提高生產力？

Yes. First, let me -- thanks for the question, Mike, first. To be clear, there was no sales reorganization. So we've got the same organization in place, but we did change the sales methodology to our traditional strategic kind of selling, okay? So same sales org just different -- traditional means of selling. I think what's the biggest indication that we can give it the success is change in RPO, okay? Help me out, Juho, what was the change in RPO?

是的。首先，讓我——首先感謝邁克的提問。需要明確的是，沒有進行銷售重組。所以我們已經建立了相同的組織，但我們確實將銷售方法更改為我們傳統的戰略銷售方式，好嗎？所以相同的銷售組織只是不同——傳統的銷售方式。我認為我們可以讓它成功的最大跡像是 RPO 的變化，好嗎？幫幫我，Juho，RPO 有什麼變化？

So I think, Mike, the best way to think about this is to aid the diversity in RPO. If we go sequentially, I know Tom mentioned in the last earnings call.

所以我認為，邁克，考慮這一點的最佳方式是幫助 RPO 的多樣性。如果我們按順序進行，我知道湯姆在上次財報電話會議中提到過。

Let's talk about diversity. So diversity in the increase in RPO would have been 32% from utilities, 30% for chemicals, 20% from agri business, 11% from financial services, 2.6% oil and gas and the rest across life sciences, manufacturing and the other. So it was highly diverse. It was a large number of agreements. What else would you comment that what -- to answer Mike's question, Juho?

讓我們談談多樣性。因此，RPO 增長的多樣性將是 32% 來自公用事業，30% 來自化學品，20% 來自農業企業，11% 來自金融服務，2.6% 石油和天然氣以及生命科學、製造業和其他領域的其餘部分。所以它是高度多樣化的。這是大量的協議。你還會評論什麼——回答邁克的問題，Juho？

I think in general, Mike, that the overall activity was just significantly improved in Q3 versus Q2.

總的來說，邁克，我認為第三季度的整體活動與第二季度相比有了顯著改善。

Very helpful. Thank you for clarifying on that. And again, I'll apologize because I am coming in a little bit late, but I know -- or one of the things that I want to ask you guys about can you provide any commentary on the either adoption or pipeline building that you're seeing around CRM? And what has been the reception to Data Vision, anything on either of those would be incremental?

非常有幫助。感謝您對此進行澄清。再說一次，我會道歉，因為我來晚了一點，但我知道 - 或者我想問你們的一件事，你能否就你的採用或管道建設提供任何評論'重新審視 CRM？ Data Vision 的接受度如何，其中任何一個都將是增量的？

Well, we're doing a major release it's called C3 AI Version 8 that we'll release in March that represents a rewrite of almost the entire stack. And then we'll release that at something called C3 Transform, which is our International Users Group, which will be in March in Miami. And Data Vision will be integrated, deeply integrated almost all of our products. CRM is now kind of just being released into the marketplace. There's a lot of interest. I think it's a lot of potential. The CRM market, as you know, this year is $120 billion software -- as you may know, is a $120 billion software and services business. And there seems to be a lot of interest in making these CRM implementations predictive.

好吧，我們正在發布一個名為 C3 AI 版本 8 的主要版本，我們將在 3 月發布它，它代表了幾乎整個堆棧的重寫。然後我們將在名為 C3 Transform 的地方發布它，這是我們的國際用戶組，將於 3 月在邁阿密舉行。而Data Vision將整合、深度整合我們幾乎所有的產品。 CRM 現在有點像剛剛發佈到市場上。有很多興趣。我認為這是很大的潛力。如您所知，今年的 CRM 市場是價值 1200 億美元的軟件——您可能知道，這是一個價值 1200 億美元的軟件和服務業務。並且似乎對使這些 CRM 實施具有預測性很感興趣。

And by the way, this is what we're doing is not a rip and replace. So we're not going in and proposing to take out Salesforce, Siebel, Dynamics, Veeva, Vlocity or whatever they might have. We just sit on top of that, okay, and make it instantly predictive. So for AI-based, AI-enabled revenue forecasting, predictive relationship modeling, next best product, next best software. So I think there's a high level of sort of interest there. And I think that, honestly, a year from now, it will be a pretty big business, and it takes a little while to build it.

順便說一句，這就是我們正在做的，而不是淘汰和替換。因此，我們不會介入並提議淘汰 Salesforce、Siebel、Dynamics、Veeva、Vlocity 或他們可能擁有的任何東西。我們只是坐在上面，好吧，讓它立即預測。因此，對於基於 AI 的、支持 AI 的收入預測、預測關係建模、次佳產品、次佳軟件。所以我認為那裡有很高的興趣。老實說，我認為，從現在起一年後，這將是一項相當大的業務，而且需要一段時間才能建立起來。

Just building on that, I think on the previous earnings call as well, as it relates to CRM, you had spoken to substantial interest coming from the global SIs for that product and exactly what you said, not the rip and replace so much is the standing up C3 on top of that to drive at that AI that you guys are delivering. So thank you very much. I appreciate you taking the time for the questions.

只是在此基礎上，我認為在之前的財報電話會議上，由於它與 CRM 相關，您已經談到來自全球 SI 對該產品的極大興趣，而正是您所說的，而不是大量的淘汰和替換是在此基礎上站起來 C3，以推動你們正在交付的人工智能。所以非常感謝。感謝您抽出時間回答問題。

Thank you. And just recast, that is continuing. And so I mean I think when you get to -- for those of you who at our users conference will participation from Accenture, PwC and others. And so I think there is a big opportunity with the SIs.

謝謝你。只是重鑄，這還在繼續。所以我的意思是，我認為當你們參加我們的用戶大會時，埃森哲、普華永道和其他公司將參與其中。所以我認為 SI 有很大的機會。

There are no additional questions waiting at this time, so I will pass the conference back over to the management team for closing remarks.

目前沒有其他問題在等待，因此我會將會議轉回給管理團隊以進行結束髮言。

Thank you all very much for your time. We're very pleased to announce I mean it was an exceptional quarter. We exceeded our expectations. We exceeded the market expectations. I think we got the sales organization back on track. The companies -- our customers continue to accelerate their implementations at a very substantial rate. And I think that as we enter Q4 of this fiscal year, the company is exactly on track, doing exactly what we said we would be doing when we took this company public. So we're kind of feeling quite optimistic. And thank you for your time, and we look forward to continuing this discussion with you. Have a great day, everybody.

非常感謝大家的時間。我們很高興地宣布，我的意思是這是一個特殊的季度。我們超出了我們的預期。我們超出了市場預期。我認為我們讓銷售組織重回正軌。這些公司——我們的客戶繼續以非常可觀的速度加速他們的實施。我認為，當我們進入本財年第四季度時，公司完全走上正軌，完全按照我們在公司上市時所說的那樣做。所以我們有點樂觀。感謝您抽出寶貴時間，我們期待與您繼續討論。祝大家有美好的一天。

That concludes the C3 AI Third Quarter 2022 Fiscal Year Earnings Call. Thank you for your participation. You may now disconnect your lines.

C3 AI 2022 財年第三季度財報電話會議到此結束。感謝您的參與。您現在可以斷開線路。