C3.ai, Inc. stock was rising after the enterprise artificial intelligence software maker reported earnings that beat analysts expectations.

The company reported a loss of 16 cents a share, beating forecasts for a loss of 20 cents a share, on sales of $108.7 million, which was slightly ahead of expectations for $107.8 million.

“This was a momentum-building year for C3 AI, achieving 25% revenue growth year-over-year,” CEO Thomas Siebel said in a release accompanying the report. For the full fiscal year ending in April, revenue was $389.1 million, up 25% from the prior year. Losses per share were 41 cents.

Shares of the artificial-intelligence software firm—which specializes in subscription-based applications used by everyone from the Department of Defense to Coca-Cola—rose 18% in premarket trading to around $27 per share after the report.

In guidance for the coming quarter ending in July, C3.ai expects revenue in the range of $100 million to $109 million, with full fiscal year revenue of $447.5 million to $484 million.

The company also announced an expanded joint venture with Baker Hughes, an energy technology company that generates around a fifth of C3.ai’s total revenue. Under the expanded deal, which extends through June 2028, C3.ai said the two companies “will continue to develop, deliver, and market Enterprise AI solutions to the oil and gas and chemical industries.”

A selloff of AI stocks earlier in the year over worries of cheap knockoffs from China, coupled with C3.ai’s continued losses, have made investors wary of the sector. Founded in 2009 by Siebel, a former Oracle executive, C3.ai has yet to turn a profit. The stock tumbled in December after he warned of an AI bubble.

Despite those near-term worries, C3.ai has an impressive roster of customers and partners. In addition to Coca-Cola and the Defense Department, it has agreements with energy firms Shell and Exxon Mobil, several state and local governments, as well as health industry players GSK, Quest Diagnostics, and Sanofi, among others.  

Siebel also touted the company’s expansion of other strategic alliances with Microsoft and Amazon’s AWS cloud-computing division, which have helped to grow sales.