Cloud Stocks: Should Do ISV Focused PaaS

According to a recent report, the global enterprise AI software market is estimated to grow at 24% CAGR from $18 billion in 2020 to reach $44 billion by 2024. Tom Siebel’s (NYSE: AI) is a recently listed player in this market, which announced its third-quarter results that surpassed the market’s expectations.’s Financials’s third-quarter revenues grew 19% to $49.1 million, ahead of the market’s estimate by 2.3%. Adjusted loss per share of $0.23 surpassed the Street’s estimates of $0.16.

Its subscription revenues grew 23.3% over the year to $42.7 million. Professional service revenues dropped 3.7% to $6.4 million.

For the fourth quarter, expects revenues of $50-$51 million, compared with the market’s forecast of $48.4 million.’s Offerings was set up in 2009 by entrepreneur Tom Siebel and Patricia House to become an enterprise AI software provider that can help organizations accelerate their digital transformation journey. Its AI suite provides comprehensive services that help organizations build enterprise-scale AI applications more efficiently and cost-effectively.

Today, the suite offers four key products. Its core technology is a comprehensive application development and runtime environment that allow customers to rapidly design, develop, and deploy Enterprise AI applications of any type.

The second suite of offerings is the Applications that have been built using the Suite and include a large portfolio of industry-specific and application-specific turnkey AI solutions that can be immediately installed and deployed. is also partnering with the likes of Microsoft and Adobe to deliver industry-specific AI CRM. As part of its tie-ups with these leaders, has integrated the Microsoft CRM stack, the Adobe marketing automation stack, and its own stack to bring to the market a family of applications that offer AI-enabled CRM software.

1 2 3
View single page >> |

Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.