C3.ai's Siebel returns as CEO

Tom Siebel is back as CEO of C3.ai.

The company said Siebel will return as CEO and Stephen Ehikian, who had been CEO after Siebel stepped down due to health issues, will remain as president of the company.

Siebel said, "while my vision is impaired it is improving" and that the health issues he faced in 2025 "are largely resolved."

Under Ehikian, C3.ai restructured to lower the cost base.

Recent headlines from the C3.ai saga:

• C3 AI’s C3 Code first installment of turnaround plan
• C3 cuts 26% of workforce
• C3 AI names new CEO, cuts outlook
• C3 AI cuts Q1 revenue outlook, revamps sales org amid search for new CEO

C3.ai said its fourth quarter revenue will be $51.6 million, within the range provided previously but well below the $108.7 million in revenue delivered in the fourth quarter a year ago.

In the fourth quarter, C3.ai said it had net loss of $121.2 million and a non-GAAP loss of $54.4 million, which was better than the previous guidance.

For fiscal 2026, C3.ai said it had a non-GAAP loss of $498.5 million on revenue of $250.3 million. According to C3.ai CFO Hitesh Lath, the company's restructuring is largely complete and the return of Siebel means C3.ai is "well positioned to drive operating leverage as the savings fully take hold in the back half of fiscal 2027."

It remains to be seen whether C3.ai can recover. The company’s primary rival Palantir has only gained momentum as C3.ai has retrenched.