HIGHBuilt-inProduct / Revenue mix
C3 AI Software subscriptions and Center of Excellence support services
“10-K Item 1A: 'we derive substantially all of our revenue from subscriptions to our C3 AI Software and Center of Excellence support services'”
AI · Concentration risk · 10-K extracted
C3.ai (AI) concentration risks
Updated
The most significant concentration C3.ai discloses is C3 AI Software subscriptions and Center of Excellence support services, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: C3.ai’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM2
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCustomer
limited number of large customers
“10-K Item 1A: 'Historically, a limited number of customers have accounted for a substantial portion of our revenue.'”
MEDIUMOutside partyCustomer
U.S. Federal government
“10-K Item 1: 'The U.S. Federal government, including defense, intelligence community, and civilian agency customers, has emerged as a significant and growing segment of our business.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06C3.ai's concentration exposures compound across product, customer and end-market lines. Most fundamentally, the company derives substantially all of its revenue from subscriptions to its C3 AI Software and Center of Excellence support services — a significant, structural concentration reflecting a single-product business model rather than a diversified revenue mix. Layered on top, C3.ai discloses that historically, a limited number of customers have accounted for a substantial portion of its revenue, a moderate dependency-type exposure that compounds the product concentration by tying results to a relatively narrow customer base. The U.S. Federal government, including defense, intelligence community and civilian agency customers, has also emerged as a significant and growing segment of the business, a moderate dependency introducing government-budget and procurement-cycle sensitivity. None of these is disclosed as an acute, single-counterparty risk, but together they describe a company whose revenue is concentrated by product, by customer count, and increasingly by exposure to government purchasing cycles — meaning a slowdown in any one of these three dimensions could have an outsized effect relative to a more diversified software business.
For the engine’s reasoning on AI’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Software - Infrastructure
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| APPN | Appian Corporation | 2 | 2 | 0 | 4 |
| AI● | C3.ai, Inc. | 1 | 2 | 0 | 3 |
| AEVA | Aeva Technologies, Inc. | 1 | 0 | 0 | 1 |
| AIOT | PowerFleet, Inc. | 0 | 2 | 0 | 2 |
| ACIW | ACI Worldwide, Inc. | 0 | 0 | 0 | 0 |
| AKAM | Akamai Technologies, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.