Cerence (CRNC) reported $138.34 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 65.4%. EPS of $1.12 for the same period compares to $0.36 a year ago.The reported revenue represents a surprise of +5.69% over the Zacks Consensus Estimate of $130.89 million. With the consensus EPS estimate being $0.90, the EPS surprise was +24.44%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Str ...

Cerence (CRNC) came out with quarterly earnings of $1.12 per share, beating the Zacks Consensus Estimate of $0.90 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 24.44%. A quarter ago, it was expected that this automotive artificial intelligence developer would post earnings of $0.13 per share when it actually produced earnings of $0.09, delivering a surprise of -30.77%.Over the la ...

deliver new branded experiences for end | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | intelligent reasoning Multi-seat support with barge-in capabilities and | | | | | | | all-seat microphone capture with wake-word free invocation Proactive AI, Emotion Detection, Voice Biometrics | | | | | | | New neural ASR & TTS technology stack | | | | | | | ...

Analysts on Wall Street project that Cerence (CRNC) will announce quarterly earnings of $0.90 per share in its forthcoming report, representing an increase of 150% year over year. Revenues are projected to reach $130.89 million, increasing 56.5% from the same quarter last year.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Prior to a ...

X X | --- | --- | --- | --- | --- | |-------|-------|-------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | Q4 FY23 – Business Highlights | | | | | | | | | | | | • Consistent execution leads to the fifth consecutive quarter of strong performance on revenue and profitability | | | | | | • Maintained leadership position within Auto Core at 54% | | | | | | penetration • T ...

Cerence Inc. (NASDAQ:CRNC) Q4 2023 Earnings Conference Call November 27, 2023 8:30 AM ET Company Participants Rich Yerganian - SVP, |IR Stefan Ortmanns - Director & CEO Nils Schanz - Chief Product Officer Tom Beaudoin - CFO Conference Call Participants Luke Junk - Baird Colin Langan - Wells Fargo Quinn Bolton - Needham Mark Delaney - Goldman Sachs Jeff Van Rhee - Craig-Hallum Capital Group Chris McNally - Evercore ISI Jeffrey Osborne - TD Cowen Operator Good day, and welcome to the Cerence’s Q4 2023 Earning ...

Financial Data and Key Metrics Changes - Q3 revenue was approximately $61.6 million, at the high end of guidance, driven by strength in the core business [12][32] - Non-GAAP gross margin was 66.5%, and adjusted EBITDA was $2.8 million, or 4.5% margin [12][40] - Professional services revenue decreased by 24% year-over-year and 8% quarter-over-quarter, not projected as a growth driver [14] Business Line Data and Key Metrics Changes - Core auto business penetration rose to 54%, the highest in nearly two years, indicating strong market position [7][42] - Variable license revenue dropped 16% year-over-year due to higher fixed contract consumption [41] - New connected services revenue increased by 3% year-over-year, but decreased by 3% quarter-over-quarter [41] Market Data and Key Metrics Changes - Cars produced using connected services increased by 50% year-over-year, reflecting a growing trend in connected vehicles [16] - Monthly active users rose by 29% year-over-year, indicating increased consumer adoption of technology [16] - Pro forma royalties were up 7% year-over-year and 6% quarter-over-quarter due to increased auto production [42] Company Strategy and Development Direction - The company is focused on innovation in AI for transportation, operational excellence, and securing strategic accounts for long-term growth [33][35] - The introduction of generative AI and large language models is central to enhancing product offerings and user experiences [9][38] - The company aims for double-digit revenue growth with strong EBITDA margins, emphasizing the importance of winning new business [34][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in visibility and ability to deliver strong Q4 results despite macroeconomic uncertainties [7][35] - The semiconductor shortage is becoming less of an issue, but rising interest rates and a slowing global economy remain concerns [7] - The company expects revenue guidance for Q4 to be between $72 million and $76 million, raising the full-year guidance midpoint to $288 million [45] Other Important Information - The company successfully restructured its debt, resulting in annual cash interest savings of approximately $8 million [34] - The balance sheet remains strong with total cash and marketable securities of approximately $116 million [13] Q&A Session Summary Question: Follow-up on billings and sales targets for FY24 - Management indicated that billings per car metrics are affected by production delays and emerging market opportunities, with guidance for FY24 to be provided in November [47] Question: Average contract duration changes - The average contract duration is influenced by deal mix and OEM production schedules, still reflecting long-term commitments [48] Question: Revenue models for large language models in cars - Management discussed potential revenue models, including licensing and subscription models, as they explore new applications and partnerships [51] Question: Performance of connected units and buyer behavior - The increase in connected units is seen as indicative of a larger trend, supported by design wins and improved service quality [57] Question: Two-wheeler contributions and design wins - The two-wheeler market is expected to grow, with several design wins contributing to future revenue [63][64] Question: IoT use cases and technology development - The company is exploring non-transportation opportunities and has developed technologies exempt from current field of use restrictions [69][70]

7 8 Business Use of Estimates Financial instruments that potentially subject us to significant concentrations of credit risk primarily consist of trade accounts receivable. We perform ongoing credit evaluations of our customers' financial condition and limit the amount of credit extended when deemed appropriate. Two customers accounted for 12.2% and 11.5%, respectively, of our Accounts receivable, net balance at June 30, 2023. One customer accounted for 17.4% of our Accounts receivable, net balance at Septe ...

Cerence Inc. (NASDAQ:CRNC) Q2 2023 Earnings Conference Call May 9, 2023 8:30 AM ET Company Participants Rich Yerganian - SVP-IR Stefan Ortmanns - CEO Tom Beaudoin - CFO Conference Call Participants Jeff Van Rhee - Craig-Hallum Capital Group Colin Langan - Wells Fargo Mark Delaney - Goldman Sachs Operator Good morning, and thank you for standing by. Welcome to the Cerence Second Quarter 2023 Earnings Call. At this time all participants are in a listen-only mode. After the speakers' presentation, there will b ...

FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-39030 CERENCE INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of i ...