Welcome to our dedicated page for Cerence news (Ticker: CRNC), a resource for investors and traders seeking the latest updates and insights on Cerence stock.
Cerence Inc. (NASDAQ: CRNC) is a leading software company based in the United States, specializing in creating advanced, AI-driven solutions for the mobility world. As an innovation partner to the world's leading automakers and mobility OEMs, Cerence is pioneering the future of connected mobility. The company's cutting-edge technology facilitates seamless, intuitive interaction between humans and their vehicles, integrating consumers' digital lives with their daily journeys.
Cerence boasts over 20 years of expertise and has shipped its technology in more than 475 million cars globally. The company's solutions span connected cars, autonomous driving, e-vehicles, and other domains, ensuring a smarter, safer, and more enjoyable driving experience.
Recent milestones include the appointment of Daniel Tempesta as Chief Financial Officer, who brings over 30 years of financial and operational expertise. Cerence also introduced CaLLM™, its automotive-specific large language model, which is already gaining traction with three major global automakers. Furthermore, the company is collaborating with Foxtron to bring voice-powered interaction to electric vehicles in Taiwan, and BMW Group is leveraging Cerence's Emergency Vehicle Detection technology to enhance safety features in its vehicles.
Financially, Cerence generates revenue primarily through software licenses and cloud-connected services, with a significant portion derived from the United States and a growing presence in regions like Europe, the Middle East, Africa, and Asia-Pacific. Despite facing challenges such as production delays and economic uncertainties, the company remains committed to advancing its generative AI and large language model product roadmap, aiming to drive sustainable, long-term value.
To stay updated on Cerence's latest developments, visit their website at www.cerence.com and follow the company on LinkedIn and Twitter.
Cerence Inc. (NASDAQ: CRNC) reported a strong performance for Q2 FY22, generating revenue of $86.3 million, despite a decrease from $98.7 million in Q2 FY21. First-half bookings surged 53% to $448 million, with significant OEM business growth in North America and the adoption of its technology by Chinese EV makers. GAAP net loss was $0.5 million, while non-GAAP net income reached $13.6 million. The company maintains its full-year guidance, forecasting Q3 revenue between $90 million and $94 million. CEO Stefan Ortmanns highlighted a robust pipeline and opportunities for long-term growth.
Cerence Inc. (NASDAQ: CRNC) has appointed Tom Beaudoin as Executive Vice President and Chief Financial Officer, effective immediately. Beaudoin, with nearly 40 years of industry experience, replaces Marc Montagner, who resigned without disagreement on any accounting matters. The company also welcomed Doug Davis, former Intel executive, to its board of directors, expanding it to eight members. Cerence provided preliminary financial results for Q2 FY 2022, anticipating revenue between $85.5 million and $86.5 million, alongside affirmed fiscal year guidance.
Cerence (NASDAQ: CRNC) is set to announce its second quarter financial results for the period ending March 31, 2022, on May 10, 2022. The announcement will be made at 7:00 a.m. EST, followed by a live conference call at 8:30 a.m. EST. Investors can participate by dialing in or accessing the webcast via Cerence's website. The replay of the teleconference will be available until May 17, 2022. Cerence is focused on innovative mobility solutions, having shipped over 400 million cars equipped with its technology.
Cerence Inc. (NASDAQ: CRNC) has partnered with Hongqi Auto, a luxury automotive brand from FAW Group, to integrate in-car conversational AI and infotainment technology in the new E-HS9 model as part of their international expansion strategy.
The collaboration aims to provide drivers with enhanced safety and productivity through an intuitive assistant capable of English and Norwegian language support. The technology utilizes advanced AI systems and cloud technologies, ensuring the in-car assistant is responsive and up-to-date, thereby enhancing the luxury driving experience.
Cerence Inc. (NASDAQ: CRNC) has appointed Jennifer Salinas as the new Senior Vice President and General Counsel, effective April 4, 2022. Salinas joins from Lenovo, where she held senior legal positions and managed various responsibilities, including M&A and compliance. CEO Stefan Ortmanns emphasized her key role in enhancing the company's growth and performance culture. Salinas offers over 20 years of legal experience and is recognized for her leadership in the Hispanic National Bar Association. Her diverse background and global expertise are expected to drive strategic initiatives at Cerence.
Cerence Inc. (NASDAQ: CRNC) has appointed Marc Montagner as its new Chief Financial Officer (CFO), effective April 4, 2022. Montagner, who previously served as CFO at Endurance International, is expected to enhance growth and create long-term value for the company. He possesses extensive experience in finance and operational leadership, having driven results in various sectors. CEO Stefan Ortmanns expressed excitement about Montagner's joining, highlighting the opportunities ahead for Cerence.
Cerence Inc. (NASDAQ: CRNC) has launched Cerence Sing, a voice-controlled karaoke experience designed for drivers, powered by Stingray's extensive song catalogue. VinFast is the first customer to integrate this feature into its VF 8 and VF 9 models. The offering enhances driving enjoyment while prioritizing safety, as it operates fully via voice commands in driver mode. Cerence Sing includes advanced features like real-time performance feedback and customization options for automotive manufacturers.
Cerence Inc. (NASDAQ: CRNC) has announced Volkswagen's selection of its AI technology to power the next-gen infotainment system in the Golf 8 GTI. This system, launching in early 2022, boasts significant enhancements in speed and accuracy, enabling intuitive voice interactions. By employing Cerence Drive 2.0, the interface supports natural communication and learns from driver preferences over time. This partnership highlights both companies' commitment to innovation in user experience and safety in connected mobility.
Cerence (NASDAQ: CRNC) announced its participation in three upcoming investor conferences. The events include:
- 2nd Annual Cowen Mobility Disruption Conference on March 2, 2022, at 2:20 PM ET
- Berenberg Industrial Technologies Conference on March 3, 2022, at 1:00 PM ET
- Raymond James Institutional Investors Conference on March 7, 2022, at 2:15 PM ET
Each presentation will feature CEO Stefan Ortmanns in a fireside chat format. Interested parties can access the webcasts on Cerence's website, with replays available afterward.
Cerence Inc. (NASDAQ: CRNC) has partnered with Mercedes-Benz Korea to enhance driver experience by integrating KT's GiGA Genie voice assistant into select Mercedes-Benz models through MBUX. This collaboration allows drivers to access a variety of services, streamlining tasks via voice commands. KT, Korea's largest telecom operator, first launched GiGA Genie in 2017, and this partnership extends its functionality to automotive settings, showcasing Cerence's commitment to improving digital integration in vehicles.
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