C3.Ai Inc ( AI ) shares are trading higher Thursday after the company reported better-than-expected financial results for its fiscal fourth quarter.

What Happened: C3.ai ( AI ) reported fourth-quarter revenue of $86 million, beating analyst estimates of $84.395 million. The enterprise AI software company reported an adjusted loss of 11 cents per share, beating estimates for a loss of 30 cents per share, according to Benzinga Pro.

C3.ai ( AI ) said it generated $18.8 million in free cash flow during the fourth quarter. The company ended the quarter with $750.4 million in cash, equivalents and marketable securities.

“We finished a strong quarter and closed out a huge year for C3 AI. This was our fifth consecutive quarter of accelerating revenue growth … Demand for Enterprise AI is intensifying, and our first to market advantage in Enterprise AI positions us well to capitalize on it,” said Thomas Siebel, chairman and CEO of C3.ai ( AI ).

C3.ai ( AI ) said it plans to continue to invest in growth to build a “long-term cash generating profitable market leader in Enterprise AI.”

C3.ai ( AI ) expects first-quarter revenue to be in the range of $84 to $89 million versus estimates of $85.88 million. The company sees full-year revenue of $370 million to $395 million versus estimates of $367.51 million.

“The interest we are seeing in our generative AI applications is staggering,” Siebel added.

Following the company’s quarterly results, Needham analyst Mike Cikos reiterated C3.ai ( AI ) with a Hold rating.

Don’t Miss: C3.ai ( AI ) Q4 Earnings Highlights: Revenue Beat, EPS Beat, Q1 Guidance, ‘Demand For Enterprise AI Is Intensifying’

AI Price Action: C3.ai ( AI ) shares were up 9.9% at $26.26 at the time of publication, according to Benzinga Pro.