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) announced its participation in the Raymond James 2021 Diversified Industrials Conference on August 24, 2021, at 12:00 p.m. Eastern Time. The event will feature a fireside chat with CEO Sanjay Dhawan and CFO Mark Gallenberger. Attendees can access the live webcast through the company's website under the 'Events & Resources' tab. A replay will also be available post-event. Cerence is a leader in creating advanced mobility experiences, having shipped nearly 400 million cars with its technology.
Cerence Inc. reported a robust 29% year-over-year revenue growth for Q3 FY21, achieving $96.8M in GAAP revenue. The company surpassed its quarterly guidance on key profitability metrics and raised its FY24 revenue target from $600M to $700M. Key performance indicators show Cerence holds 53% of worldwide auto production with its technology and an impressive 6.8-year average contract duration. Strategic collaborations were announced with Sirius XM, Visteon, and Harman, boosting growth potential. The Q4 FY21 revenue guidance is set between $97M and $101M, reflecting a 6% to 11% increase compared to last year.
Cerence Inc. (NASDAQ: CRNC) reported a quarterly record in Q3 2021, marking the start-of-production (SOP) for its automotive technologies in 61 new car models from 16 global automakers. This achievement involves 32 renowned brands, including BMW, Ford, and Toyota, showcasing the rising adoption of Cerence's conversational AI solutions. CEO Sanjay Dhawan highlighted the company's growth and momentum in developing intuitive in-car assistant experiences for a global market, enhancing the driving experience for consumers.
Cerence Inc. (NASDAQ: CRNC) will announce its third quarter fiscal results for 2021 on August 9, 2021, at 7:00 a.m. EDT. The company will host a live conference call and webcast at 10:00 a.m. EDT to discuss the results. Interested investors can participate by dialing specific numbers or accessing the webcast via their Investor Information section on the company's website. A teleconference replay will be available until August 16, 2021. Cerence is recognized as a leader in connected mobility with a history spanning over 20 years and nearly 400 million vehicles using its technology.
Cerence (NASDAQ: CRNC) has partnered with HARMAN to integrate voice-enabled applications within the HARMAN Ignite Store. This collaboration aims to enhance drivers' experiences by offering hands-free access to a wide range of services. Utilizing Cerence's advanced voice recognition and natural language processing, automakers can provide features such as navigation and car control. The initiative emphasizes the growing importance of voice technology in automotive environments, creating new business models and revenue streams for automakers through ongoing improvements.
Cerence (NASDAQ: CRNC) has partnered with Alphavan to launch a special edition of the Cerence Tour Guide app, integrated into Alphavan's luxury camper vans. This app enhances the travel experience by providing engaging guided tours during journeys. The partnership capitalizes on the rising interest in road travel and the growing camper van market, particularly among digital nomads. With features for booking experiences and accessing historical insights, the app supports Alphavan's commitment to modernizing caravan travel.
Cerence (NASDAQ: CRNC) has announced a collaboration with Visteon to integrate Cerence's conversational AI into Visteon's SmartCore™ product for motorcycles. Set to launch in 2024, this system will feature AI-powered voice recognition and a 12-inch display for infotainment. This partnership aims to enhance rider safety and digital connectivity. The integration supports additional Cerence technologies and services, reflecting a trend of digital transformation in the two-wheeler market.
Cerence Inc. (NASDAQ: CRNC) announced its expansion of the Cerence Pay partner ecosystem by integrating ryd pay, the leading cross-brand mobile payment solution for fuel stations in Europe. This collaboration enables secure, voice-activated payment options directly from vehicles, enhancing customer convenience. Currently operational in Germany, Benelux, Switzerland, and Austria, it will extend throughout the EU. Backed by major companies like Mastercard and Mercedes-Benz, this partnership aims to streamline in-car transactions and respond to the rising demand for efficient payment solutions.
Cerence (NASDAQ: CRNC) announced its inclusion in the S&P MidCap 400, effective July 7, 2021. CEO Sanjay Dhawan expressed enthusiasm for this recognition, highlighting the company's commitment to shareholder value since its public debut in October 2019. This milestone underscores Cerence's growth trajectory and market success, signifying a strong position in the mobility industry.
Cerence Inc. (NASDAQ: CRNC) announced that its CIO, Bridget Collins, was awarded the 2021 BostonCIO of the Year in the Corporate category. This recognition comes as Collins led the transformation of IT systems during the company's spin-off from a multi-divisional parent. Under her leadership, Cerence has achieved significant growth, streamlined IT processes, and established a robust architecture to support innovation in connected mobility. The ORBIE Awards honor excellence in technology leadership based on a peer review process.
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