Shares of C3 AI dropped 30% after announcing preliminary financial results and a global sales and services reorganization. Revenue for fiscal first quarter 2026 is expected to be between $70.2 million and $70.4 million, down from $87.2 million the previous year. CEO Thomas Siebel cited disruptive reorganization and health issues for poor sales performance. GAAP loss from operations widened to $124.7-$124.9 million. Siebel’s health issues led to less active sales participation. A search for a new CEO is underway due to Siebel’s autoimmune disease and vision impairment. Sales and services restructuring is complete, and Siebel’s health has improved, aiming to identify a new CEO quickly. Conference call for first quarter results set for Sept. 3 at 5 p.m. ET.

Read more at CNBC: C3 AI stock falls 30% as CEO calls sales ‘completely unacceptable’