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Side-by-side financial comparison of C3.ai, Inc. (AI) and PETMED EXPRESS INC (PETS). Click either name above to swap in a different company.
C3.ai, Inc. is the larger business by last-quarter revenue ($75.1M vs $40.7M, roughly 1.8× PETMED EXPRESS INC). PETMED EXPRESS INC runs the higher net margin — -26.0% vs -139.3%, a 113.3% gap on every dollar of revenue. On growth, C3.ai, Inc. posted the faster year-over-year revenue change (-20.3% vs -23.3%). PETMED EXPRESS INC produced more free cash flow last quarter ($-9.2M vs $-46.9M). Over the past eight quarters, C3.ai, Inc.'s revenue compounded faster (-2.1% CAGR vs -20.9%).
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.
PetMed Express, Inc., also known as PetMeds, is an online pet pharmacy based in the United States. It is publicly traded and sells prescription and non-prescription pet medication.
AI vs PETS — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $40.7M |
| Net Profit | $-104.7M | $-10.6M |
| Gross Margin | 40.4% | 23.3% |
| Operating Margin | -149.2% | -25.7% |
| Net Margin | -139.3% | -26.0% |
| Revenue YoY | -20.3% | -23.3% |
| Net Profit YoY | -58.7% | -1392.6% |
| EPS (diluted) | $-0.75 | $-0.50 |
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 | $40.7M | ||
| Q3 25 | $70.3M | $44.4M | ||
| Q2 25 | $108.7M | $51.2M | ||
| Q1 25 | $98.8M | $50.8M | ||
| Q4 24 | $94.3M | $52.0M | ||
| Q3 24 | $87.2M | $58.0M | ||
| Q2 24 | $86.6M | $66.2M | ||
| Q1 24 | $78.4M | $65.1M |
| Q4 25 | $-104.7M | $-10.6M | ||
| Q3 25 | $-116.8M | $-8.5M | ||
| Q2 25 | $-79.7M | $-34.2M | ||
| Q1 25 | $-80.2M | $-11.6M | ||
| Q4 24 | $-66.0M | $-707.0K | ||
| Q3 24 | $-62.8M | $2.3M | ||
| Q2 24 | $-72.9M | $3.8M | ||
| Q1 24 | $-72.6M | $-5.0M |
| Q4 25 | 40.4% | 23.3% | ||
| Q3 25 | 37.6% | 28.0% | ||
| Q2 25 | 62.1% | 28.1% | ||
| Q1 25 | 59.1% | 29.9% | ||
| Q4 24 | 61.3% | 31.0% | ||
| Q3 24 | 59.8% | 32.3% | ||
| Q2 24 | 59.6% | 28.8% | ||
| Q1 24 | 57.8% | 29.3% |
| Q4 25 | -149.2% | -25.7% | ||
| Q3 25 | -177.7% | -18.9% | ||
| Q2 25 | -81.8% | -66.7% | ||
| Q1 25 | -88.7% | -11.9% | ||
| Q4 24 | -79.8% | -0.9% | ||
| Q3 24 | -83.2% | 1.0% | ||
| Q2 24 | -95.1% | 6.6% | ||
| Q1 24 | -105.3% | -5.9% |
| Q4 25 | -139.3% | -26.0% | ||
| Q3 25 | -166.2% | -19.2% | ||
| Q2 25 | -73.3% | -66.7% | ||
| Q1 25 | -81.2% | -22.9% | ||
| Q4 24 | -69.9% | -1.4% | ||
| Q3 24 | -72.0% | 4.0% | ||
| Q2 24 | -84.2% | 5.7% | ||
| Q1 24 | -92.6% | -7.7% |
| Q4 25 | $-0.75 | $-0.50 | ||
| Q3 25 | $-0.86 | $-0.41 | ||
| Q2 25 | $-0.60 | $-1.65 | ||
| Q1 25 | $-0.62 | $-0.56 | ||
| Q4 24 | $-0.52 | $-0.03 | ||
| Q3 24 | $-0.50 | $0.11 | ||
| Q2 24 | $-0.59 | $0.18 | ||
| Q1 24 | $-0.60 | $-0.24 |
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 | $26.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $771.9M | $32.8M |
| Total Assets | $961.3M | $88.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $26.9M | ||
| Q3 25 | $711.9M | $36.1M | ||
| Q2 25 | $742.7M | $41.1M | ||
| Q1 25 | $724.3M | $54.7M | ||
| Q4 24 | $730.4M | $50.1M | ||
| Q3 24 | $762.5M | $52.0M | ||
| Q2 24 | $750.4M | $46.0M | ||
| Q1 24 | $723.3M | $55.3M |
| Q4 25 | $771.9M | $32.8M | ||
| Q3 25 | $798.8M | $43.1M | ||
| Q2 25 | $838.3M | $51.5M | ||
| Q1 25 | $860.2M | $85.1M | ||
| Q4 24 | $859.0M | $96.2M | ||
| Q3 24 | $874.9M | $96.4M | ||
| Q2 24 | $873.4M | $93.5M | ||
| Q1 24 | $898.0M | $96.7M |
| Q4 25 | $961.3M | $88.0M | ||
| Q3 25 | $968.7M | $100.3M | ||
| Q2 25 | $1.0B | $109.8M | ||
| Q1 25 | $1.1B | $148.7M | ||
| Q4 24 | $1.0B | $144.8M | ||
| Q3 24 | $1.1B | $146.0M | ||
| Q2 24 | $1.0B | $152.7M | ||
| Q1 24 | $1.1B | $169.9M |
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 | $-9.2M |
| Free Cash FlowOCF − Capex | $-46.9M | $-9.2M |
| FCF MarginFCF / Revenue | -62.4% | -22.7% |
| Capex IntensityCapex / Revenue | 0.5% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $-23.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $-9.2M | ||
| Q3 25 | $-33.5M | $-2.2M | ||
| Q2 25 | $11.3M | $-12.3M | ||
| Q1 25 | $-22.0M | $7.0M | ||
| Q4 24 | $-38.7M | $-1.2M | ||
| Q3 24 | $8.0M | $7.4M | ||
| Q2 24 | $21.3M | $-8.5M | ||
| Q1 24 | $-39.1M | $7.1M |
| Q4 25 | $-46.9M | $-9.2M | ||
| Q3 25 | $-34.3M | $-4.8M | ||
| Q2 25 | $10.3M | $-13.6M | ||
| Q1 25 | $-22.4M | $4.6M | ||
| Q4 24 | $-39.5M | $-1.9M | ||
| Q3 24 | $7.1M | $6.1M | ||
| Q2 24 | $18.8M | $-9.2M | ||
| Q1 24 | $-45.1M | $5.9M |
| Q4 25 | -62.4% | -22.7% | ||
| Q3 25 | -48.8% | -10.8% | ||
| Q2 25 | 9.5% | -26.5% | ||
| Q1 25 | -22.7% | 9.1% | ||
| Q4 24 | -41.9% | -3.7% | ||
| Q3 24 | 8.2% | 10.6% | ||
| Q2 24 | 21.7% | -13.9% | ||
| Q1 24 | -57.6% | 9.0% |
| Q4 25 | 0.5% | 0.1% | ||
| Q3 25 | 1.1% | 5.9% | ||
| Q2 25 | 0.9% | 2.5% | ||
| Q1 25 | 0.4% | 4.7% | ||
| Q4 24 | 0.9% | 1.5% | ||
| Q3 24 | 1.1% | 2.2% | ||
| Q2 24 | 2.9% | 1.0% | ||
| Q1 24 | 7.8% | 1.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.18× | ||
| Q2 24 | — | -2.27× | ||
| 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% |
PETS
| Reorder | $34.0M | 84% |
| New Order | $5.0M | 12% |
| Membership Fees | $1.6M | 4% |
