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Side-by-side financial comparison of C3.ai, Inc. (AI) and FTAI Infrastructure Inc. (FIP). Click either name above to swap in a different company.
FTAI Infrastructure Inc. is the larger business by last-quarter revenue ($143.5M vs $75.1M, roughly 1.9× C3.ai, Inc.). FTAI Infrastructure Inc. runs the higher net margin — -68.1% vs -139.3%, a 71.2% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs -20.3%). C3.ai, Inc. produced more free cash flow last quarter ($-46.9M vs $-68.6M). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% CAGR vs -2.1%).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
FTAI Infrastructure Inc. owns, operates and invests in high-quality critical infrastructure assets across core sectors including transportation logistics, midstream energy, and power generation. It primarily serves North American markets, focusing on assets with stable long-term cash flows, contracted revenue streams, and strong market positions to deliver sustainable returns for stakeholders.
AI vs FIP — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $143.5M |
| Net Profit | $-104.7M | $-97.7M |
| Gross Margin | 40.4% | — |
| Operating Margin | -149.2% | -45.7% |
| Net Margin | -139.3% | -68.1% |
| Revenue YoY | -20.3% | 77.7% |
| Net Profit YoY | -58.7% | 21.6% |
| EPS (diluted) | $-0.75 | $-1.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.1M | $143.5M | ||
| Q3 25 | $70.3M | $140.6M | ||
| Q2 25 | $108.7M | $122.3M | ||
| Q1 25 | $98.8M | $96.2M | ||
| Q4 24 | $94.3M | $80.8M | ||
| Q3 24 | $87.2M | $83.3M | ||
| Q2 24 | $86.6M | $84.9M | ||
| Q1 24 | $78.4M | $82.5M |
| Q4 25 | $-104.7M | $-97.7M | ||
| Q3 25 | $-116.8M | $-104.5M | ||
| Q2 25 | $-79.7M | $-70.0M | ||
| Q1 25 | $-80.2M | $120.2M | ||
| Q4 24 | $-66.0M | $-124.7M | ||
| Q3 24 | $-62.8M | $-43.0M | ||
| Q2 24 | $-72.9M | $-48.1M | ||
| Q1 24 | $-72.6M | $-50.3M |
| Q4 25 | 40.4% | — | ||
| Q3 25 | 37.6% | — | ||
| Q2 25 | 62.1% | — | ||
| Q1 25 | 59.1% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 59.8% | — | ||
| Q2 24 | 59.6% | — | ||
| Q1 24 | 57.8% | — |
| Q4 25 | -149.2% | -45.7% | ||
| Q3 25 | -177.7% | -70.8% | ||
| Q2 25 | -81.8% | -56.4% | ||
| Q1 25 | -88.7% | 81.8% | ||
| Q4 24 | -79.8% | -152.7% | ||
| Q3 24 | -83.2% | -51.7% | ||
| Q2 24 | -95.1% | -56.4% | ||
| Q1 24 | -105.3% | -58.8% |
| Q4 25 | -139.3% | -68.1% | ||
| Q3 25 | -166.2% | -74.4% | ||
| Q2 25 | -73.3% | -57.2% | ||
| Q1 25 | -81.2% | 125.0% | ||
| Q4 24 | -69.9% | -154.4% | ||
| Q3 24 | -72.0% | -51.6% | ||
| Q2 24 | -84.2% | -56.7% | ||
| Q1 24 | -92.6% | -60.9% |
| Q4 25 | $-0.75 | $-1.04 | ||
| Q3 25 | $-0.86 | $-1.38 | ||
| Q2 25 | $-0.60 | $-0.73 | ||
| Q1 25 | $-0.62 | $0.89 | ||
| Q4 24 | $-0.52 | $-1.21 | ||
| Q3 24 | $-0.50 | $-0.45 | ||
| Q2 24 | $-0.59 | $-0.52 | ||
| Q1 24 | $-0.60 | $-0.54 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $675.0M | $57.4M |
| Total DebtLower is stronger | — | $3.8B |
| Stockholders' EquityBook value | $771.9M | $21.3M |
| Total Assets | $961.3M | $5.7B |
| Debt / EquityLower = less leverage | — | 176.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $57.4M | ||
| Q3 25 | $711.9M | $34.7M | ||
| Q2 25 | $742.7M | $33.6M | ||
| Q1 25 | $724.3M | $26.3M | ||
| Q4 24 | $730.4M | $27.8M | ||
| Q3 24 | $762.5M | $20.3M | ||
| Q2 24 | $750.4M | $33.1M | ||
| Q1 24 | $723.3M | $23.0M |
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.3B |
| Q4 25 | $771.9M | $21.3M | ||
| Q3 25 | $798.8M | $181.1M | ||
| Q2 25 | $838.3M | $375.5M | ||
| Q1 25 | $860.2M | $476.2M | ||
| Q4 24 | $859.0M | $202.7M | ||
| Q3 24 | $874.9M | $370.8M | ||
| Q2 24 | $873.4M | $394.8M | ||
| Q1 24 | $898.0M | $402.5M |
| Q4 25 | $961.3M | $5.7B | ||
| Q3 25 | $968.7M | $5.5B | ||
| Q2 25 | $1.0B | $4.4B | ||
| Q1 25 | $1.1B | $4.1B | ||
| Q4 24 | $1.0B | $2.4B | ||
| Q3 24 | $1.1B | $2.4B | ||
| Q2 24 | $1.0B | $2.5B | ||
| Q1 24 | $1.1B | $2.3B |
| Q4 25 | — | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | — | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× | ||
| Q1 24 | — | 3.34× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-46.5M | $-2.8M |
| Free Cash FlowOCF − Capex | $-46.9M | $-68.6M |
| FCF MarginFCF / Revenue | -62.4% | -47.8% |
| Capex IntensityCapex / Revenue | 0.5% | 45.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $-398.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $-2.8M | ||
| Q3 25 | $-33.5M | $-24.4M | ||
| Q2 25 | $11.3M | $-5.2M | ||
| Q1 25 | $-22.0M | $-85.7M | ||
| Q4 24 | $-38.7M | $-8.1M | ||
| Q3 24 | $8.0M | $14.2M | ||
| Q2 24 | $21.3M | $-17.6M | ||
| Q1 24 | $-39.1M | $-3.9M |
| Q4 25 | $-46.9M | $-68.6M | ||
| Q3 25 | $-34.3M | $-90.7M | ||
| Q2 25 | $10.3M | $-87.5M | ||
| Q1 25 | $-22.4M | $-151.7M | ||
| Q4 24 | $-39.5M | $-34.3M | ||
| Q3 24 | $7.1M | $-11.7M | ||
| Q2 24 | $18.8M | $-32.1M | ||
| Q1 24 | $-45.1M | $-16.7M |
| Q4 25 | -62.4% | -47.8% | ||
| Q3 25 | -48.8% | -64.5% | ||
| Q2 25 | 9.5% | -71.6% | ||
| Q1 25 | -22.7% | -157.7% | ||
| Q4 24 | -41.9% | -42.4% | ||
| Q3 24 | 8.2% | -14.0% | ||
| Q2 24 | 21.7% | -37.9% | ||
| Q1 24 | -57.6% | -20.3% |
| Q4 25 | 0.5% | 45.9% | ||
| Q3 25 | 1.1% | 47.2% | ||
| Q2 25 | 0.9% | 67.3% | ||
| Q1 25 | 0.4% | 68.6% | ||
| Q4 24 | 0.9% | 32.5% | ||
| Q3 24 | 1.1% | 31.1% | ||
| Q2 24 | 2.9% | 17.2% | ||
| Q1 24 | 7.8% | 15.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.71× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
FIP
| Power Revenues | $45.9M | 32% |
| Rail Revenue | $44.6M | 31% |
| Service Other | $22.8M | 16% |
| Gas Revenues | $15.3M | 11% |
| Roadside Services Revenues | $11.5M | 8% |
| Rapauno | $1.2M | 1% |
