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C3.ai ended FY2026 with preliminary revenue inside guidance and a large cash and investments balance, but the latest evidence is dominated by a sharp revenue reset, weak Q3 gross margin, negative free cash flow, a 26% workforce reduction and Thomas Siebel's re
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BigBear.ai's Q1 2026 backlog and gross margin improved, but the deep dive keeps the proof gate on revenue conversion, adjusted EBITDA, and operating cash flow.
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