C3.ai reported $200M of remaining performance obligations at 31 Jul 2026, down 10% from a year earlier and down 2% from the previous quarter. That is 0.9 years of trailing revenue already under contract. Book-to-bill last quarter: 0.94.
Net new backlog added in the latest quarter: -$3.10M.
Over the last twelve months it turned about 105% of its opening backlog into revenue (12-month conversion).
66% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 26.9% of the backlog.
Twelve-month book-to-bill: 0.90, i.e. 0.90 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +27 points — orders are running ahead of revenue.
By backlog size it ranks 382nd among US filers the cockpit tracks.
C3.ai backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
31 Jul 2026
$200M
$232M
0.9 yrs
$53.7M
30 Apr 2026
$203M
$250M
0.8 yrs
$36.4M
31 Jan 2026
$225M
$307M
0.7 yrs
$40.0M
31 Oct 2025
$232M
$353M
0.7 yrs
$34.7M
31 Jul 2025
$223M
$372M
0.6 yrs
$29.9M
30 Apr 2025
$235M
$389M
0.6 yrs
$36.6M
31 Jan 2025
$208M
$367M
0.6 yrs
$33.0M
31 Oct 2024
$260M
$346M
0.8 yrs
$35.8M
31 Jul 2024
$204M
$325M
0.6 yrs
$40.3M
30 Apr 2024
$244M
$311M
0.8 yrs
$39.0M
31 Jan 2024
$287M
$296M
1.0 yrs
$41.3M
31 Oct 2023
$304M
$285M
1.1 yrs
$40.6M
Questions
What is C3.ai's backlog?
C3.ai reported $200M of remaining performance obligations at 31 Jul 2026, down 10% from a year earlier and down 2% from the previous quarter. That is 0.9 years of trailing revenue already under contract. Book-to-bill last quarter: 0.94.
How fast does C3.ai's backlog turn into revenue?
Over the last twelve months C3.ai recognised revenue equal to about 105% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.