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) 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.
Cerence Inc. (NASDAQ: CRNC) has partnered with Qianjiang Motorcycle to integrate its Cerence Ride voice and AI platform into their motorcycles. This initiative will enhance rider experience by providing hands-free access to navigation, communication, and entertainment. Using Cerence's advanced speech recognition and proactive AI, the platform aims to improve safety and convenience for riders. The collaboration signifies a strategic move for Cerence to expand in the high-end motorcycle segment, leveraging Qianjiang's position as a leading two-wheeler manufacturer in China.
Cerence Inc. (NASDAQ: CRNC) has announced a partnership with Pioneer Corporation to integrate advanced conversational speech recognition technology into Pioneer’s new NP1 device, set to launch in Japan in March 2022. This collaboration aims to enhance in-car experiences by allowing drivers to navigate and interact using voice commands. The NP1 features an integrated camera and speaker system, providing real-time lane-by-lane directions. This partnership positions both companies to capitalize on recurring revenue opportunities in the growing digital mobility market.
Cerence (NASDAQ: CRNC) reported fiscal Q1 2022 results, achieving GAAP revenue of $94.4 million, a slight increase from $93.6 million in Q1 2021. The GAAP gross margin rose to 74.3%, with GAAP net income of $19.0 million ($0.47 per share). Despite strong bookings and initial revenue from new fitness products, Cerence has lowered its FY2022 guidance due to supply chain challenges and delays in new product revenue recognition. The revised revenue guidance is now $365-$385 million, a 9% decrease from prior estimates.
Cerence Inc. (NASDAQ: CRNC) announced the retirement of CFO Mark Gallenberger, effective March 11, 2022. He will remain in an advisory capacity until November 2022 to facilitate a smooth transition. Mitch Cohen has been appointed as interim CFO, bringing over 30 years of experience in finance and operations. Cerence is actively seeking a new CFO with the help of Heidrick & Struggles. Gallenberger's leadership was pivotal in Cerence's early public company journey, while Cohen's extensive background is expected to benefit the finance organization during the transition.
Cerence Inc. (NASDAQ: CRNC) is set to release its first quarter financial results for the period ending December 31, 2021, on February 7, 2022, at 7:30 a.m. EST. A conference call and webcast will follow at 8:30 a.m. EST for analysts and investors to discuss the results. Investors can join via dial-in or access the webcast on Cerence's investor relations page. The replay of the call will be available until February 14, 2022. Cerence is a leader in AI for mobility, with over 400 million vehicles equipped with its technology.
Cerence Inc. (NASDAQ: CRNC) will present at the Baird 2022 Vehicle Technology & Mobility Conference on January 25, 2022, at 9:05 a.m. ET. The presentation will take the format of a fireside chat featuring Stefan Ortmanns, CEO, and Mark Gallenberger, CFO. Interested parties can access the live webcast via the Investors section of the company's website. A replay of the event will also be available afterward. Cerence focuses on enhancing mobility experiences through innovative technology, boasting over 400 million cars equipped with its solutions.
Cerence Inc. (NASDAQ: CRNC) has announced a partnership with NIO to integrate its conversational AI into NIO's ES8 SUV as part of the automaker's expansion into Norway. This collaboration enhances NIO's premium electric vehicle experience with advanced voice and AI capabilities. The Cerence Automotive Platform offers a flexible structure allowing fast deployment. This innovative assistant will provide intuitive, personalized interactions, utilizing both on-board and cloud-based technologies for optimal performance even with limited connectivity.
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