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Side-by-side financial comparison of C3.ai, Inc. (AI) and P10, Inc. (PX). Click either name above to swap in a different company.
P10, Inc. is the larger business by last-quarter revenue ($81.0M vs $75.1M, roughly 1.1× C3.ai, Inc.). P10, Inc. runs the higher net margin — 11.7% vs -139.3%, a 150.9% gap on every dollar of revenue. On growth, P10, Inc. posted the faster year-over-year revenue change (-4.7% vs -20.3%). P10, Inc. produced more free cash flow last quarter ($18.1M vs $-46.9M). Over the past eight quarters, P10, Inc.'s revenue compounded faster (10.7% 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.
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
AI vs PX — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $81.0M |
| Net Profit | $-104.7M | $9.5M |
| Gross Margin | 40.4% | — |
| Operating Margin | -149.2% | 31.9% |
| Net Margin | -139.3% | 11.7% |
| Revenue YoY | -20.3% | -4.7% |
| Net Profit YoY | -58.7% | 79.0% |
| EPS (diluted) | $-0.75 | $0.08 |
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 | $81.0M | ||
| Q3 25 | $70.3M | $75.9M | ||
| Q2 25 | $108.7M | $72.7M | ||
| Q1 25 | $98.8M | $67.7M | ||
| Q4 24 | $94.3M | $85.0M | ||
| Q3 24 | $87.2M | $74.2M | ||
| Q2 24 | $86.6M | $71.1M | ||
| Q1 24 | $78.4M | $66.1M |
| Q4 25 | $-104.7M | $9.5M | ||
| Q3 25 | $-116.8M | $2.1M | ||
| Q2 25 | $-79.7M | $3.4M | ||
| Q1 25 | $-80.2M | $4.5M | ||
| Q4 24 | $-66.0M | $5.3M | ||
| Q3 24 | $-62.8M | $1.4M | ||
| Q2 24 | $-72.9M | $7.0M | ||
| Q1 24 | $-72.6M | $5.0M |
| 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% | 31.9% | ||
| Q3 25 | -177.7% | 14.1% | ||
| Q2 25 | -81.8% | 24.4% | ||
| Q1 25 | -88.7% | 16.6% | ||
| Q4 24 | -79.8% | 26.9% | ||
| Q3 24 | -83.2% | 11.9% | ||
| Q2 24 | -95.1% | 23.7% | ||
| Q1 24 | -105.3% | 18.3% |
| Q4 25 | -139.3% | 11.7% | ||
| Q3 25 | -166.2% | 2.8% | ||
| Q2 25 | -73.3% | 4.7% | ||
| Q1 25 | -81.2% | 6.7% | ||
| Q4 24 | -69.9% | 6.2% | ||
| Q3 24 | -72.0% | 1.9% | ||
| Q2 24 | -84.2% | 9.8% | ||
| Q1 24 | -92.6% | 7.6% |
| Q4 25 | $-0.75 | $0.08 | ||
| Q3 25 | $-0.86 | $0.02 | ||
| Q2 25 | $-0.60 | $0.03 | ||
| Q1 25 | $-0.62 | $0.04 | ||
| Q4 24 | $-0.52 | $0.05 | ||
| Q3 24 | $-0.50 | $0.01 | ||
| Q2 24 | $-0.59 | $0.06 | ||
| Q1 24 | $-0.60 | $0.04 |
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 | $28.2M |
| Total DebtLower is stronger | — | $373.2M |
| Stockholders' EquityBook value | $771.9M | $403.5M |
| Total Assets | $961.3M | $928.3M |
| Debt / EquityLower = less leverage | — | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $28.2M | ||
| Q3 25 | $711.9M | $40.0M | ||
| Q2 25 | $742.7M | $33.4M | ||
| Q1 25 | $724.3M | $74.4M | ||
| Q4 24 | $730.4M | $67.5M | ||
| Q3 24 | $762.5M | $61.5M | ||
| Q2 24 | $750.4M | $31.2M | ||
| Q1 24 | $723.3M | $29.0M |
| Q4 25 | — | $373.2M | ||
| Q3 25 | — | $393.4M | ||
| Q2 25 | — | $373.0M | ||
| Q1 25 | — | $357.2M | ||
| Q4 24 | — | $319.8M | ||
| Q3 24 | — | $319.4M | ||
| Q2 24 | — | $300.6M | ||
| Q1 24 | — | $314.0M |
| Q4 25 | $771.9M | $403.5M | ||
| Q3 25 | $798.8M | $396.8M | ||
| Q2 25 | $838.3M | $388.9M | ||
| Q1 25 | $860.2M | $374.3M | ||
| Q4 24 | $859.0M | $386.9M | ||
| Q3 24 | $874.9M | $394.1M | ||
| Q2 24 | $873.4M | $396.9M | ||
| Q1 24 | $898.0M | $400.1M |
| Q4 25 | $961.3M | $928.3M | ||
| Q3 25 | $968.7M | $936.0M | ||
| Q2 25 | $1.0B | $932.2M | ||
| Q1 25 | $1.1B | $877.4M | ||
| Q4 24 | $1.0B | $869.3M | ||
| Q3 24 | $1.1B | $857.0M | ||
| Q2 24 | $1.0B | $823.2M | ||
| Q1 24 | $1.1B | $832.8M |
| Q4 25 | — | 0.93× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 0.96× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | — | 0.83× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.78× |
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 | $23.0M |
| Free Cash FlowOCF − Capex | $-46.9M | $18.1M |
| FCF MarginFCF / Revenue | -62.4% | 22.3% |
| Capex IntensityCapex / Revenue | 0.5% | 6.0% |
| Cash ConversionOCF / Net Profit | — | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $14.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $23.0M | ||
| Q3 25 | $-33.5M | $-8.6M | ||
| Q2 25 | $11.3M | $13.4M | ||
| Q1 25 | $-22.0M | $-4.7M | ||
| Q4 24 | $-38.7M | $101.0M | ||
| Q3 24 | $8.0M | $27.5M | ||
| Q2 24 | $21.3M | $34.8M | ||
| Q1 24 | $-39.1M | $11.0M |
| Q4 25 | $-46.9M | $18.1M | ||
| Q3 25 | $-34.3M | $-9.5M | ||
| Q2 25 | $10.3M | $11.6M | ||
| Q1 25 | $-22.4M | $-6.0M | ||
| Q4 24 | $-39.5M | $96.6M | ||
| Q3 24 | $7.1M | $25.2M | ||
| Q2 24 | $18.8M | $33.9M | ||
| Q1 24 | $-45.1M | $10.7M |
| Q4 25 | -62.4% | 22.3% | ||
| Q3 25 | -48.8% | -12.6% | ||
| Q2 25 | 9.5% | 15.9% | ||
| Q1 25 | -22.7% | -8.9% | ||
| Q4 24 | -41.9% | 113.6% | ||
| Q3 24 | 8.2% | 34.0% | ||
| Q2 24 | 21.7% | 47.7% | ||
| Q1 24 | -57.6% | 16.2% |
| Q4 25 | 0.5% | 6.0% | ||
| Q3 25 | 1.1% | 1.2% | ||
| Q2 25 | 0.9% | 2.5% | ||
| Q1 25 | 0.4% | 1.9% | ||
| Q4 24 | 0.9% | 5.2% | ||
| Q3 24 | 1.1% | 3.0% | ||
| Q2 24 | 2.9% | 1.3% | ||
| Q1 24 | 7.8% | 0.4% |
| Q4 25 | — | 2.43× | ||
| Q3 25 | — | -4.01× | ||
| Q2 25 | — | 3.96× | ||
| Q1 25 | — | -1.05× | ||
| Q4 24 | — | 19.12× | ||
| Q3 24 | — | 19.54× | ||
| Q2 24 | — | 4.98× | ||
| Q1 24 | — | 2.18× |
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% |
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
