C3.ai delivered solid top-line growth in Q3 2025, underpinned by a rapidly expanding partner ecosystem and meaningful momentum in Generative AI and Agentic AI deployments. Total revenue rose 26% year over year to $98.8 million, with subscription revenue up 22% to $85.7 million and representing 87% of total revenue. Non-GAAP gross margins improved to 69% as the mix shifted toward high-margin software and away from lower-margin pilots, while non-GAAP operating loss narrowed to $23.1 million, reflecting disciplined expense management and targeted investments in sales force and partnerships. GAAP metrics remained negative, with operating income of approximately -$87.6 million and net income of about -$80.2 million, underscoring the company’s ongoing transition to scale and profitability. Management emphasizes the acceleration of growth through strategic alliances (Microsoft, AWS, McKinsey QuantumBlack), a expanding pipeline, and rapid deployment capabilities across industries, while guiding to Q4 revenue of $103.6–$113.6 million and a full-year non-GAAP loss from operations in a $87–$97 million range. This suggests a near-term profitability path contingent on continued ecosystem leverage, higher pilot-to-subscription conversion, and macro stability.