AICoin AI Stock Plummets on Dismal Earnings, Leadership Shakeup

AICoin AI (AI -3.54%) shares dropped 3.2% by mid-morning Wednesday following a disappointing fiscal Q1 2026 earnings report. The artificial intelligence software company reported $70.3 million in revenue—significantly missing Wall Street's $93.9 million expectation—while its adjusted loss of $0.37 per share expanded to $0.86 under GAAP accounting.

CEO Thomas Siebel blamed the poor performance on organizational restructuring and personal health issues, calling the results "completely unacceptable." The company has since completely overhauled its sales team and appointed Stephen Ehikian, former Acting Administrator of the U.S. General Services Administration, as its new CEO.

Q2 guidance provides little optimism, with revenue projected between $72 million and $80 million. The leadership transition comes as AICoin AI struggles with widening losses, now 72% deeper year-over-year.