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), also known as Cerence AI, stands as a global leader at the forefront of artificial intelligence for the transportation industry. The company specializes in creating intuitive and seamless AI-powered experiences, primarily for the automotive sector and beyond. With decades of expertise in voice recognition, generative AI, and large language models, Cerence is dedicated to making journeys safer, more connected, and more enjoyable for drivers and passengers worldwide.
Cerence's core business revolves around its CaLLM™ (Cerence Automotive Large Language Model) family of language models, powering advanced in-car assistants. These solutions enable natural and intelligent conversations within vehicles, enhancing user experience through voice-activated controls, information access, and personalized interactions. The company's technology is deployed in over 500 million cars globally, demonstrating its significant market reach and the trust placed in its innovations by leading automakers and transportation OEMs.
Recent announcements highlight Cerence AI's ongoing growth and strategic initiatives. The company has solidified a multi-year agreement with JLR to co-develop the next generation of luxury in-car experiences, further cementing its position in the premium automotive segment. Furthermore, an expanded collaboration with NVIDIA leverages the NVIDIA AI Enterprise platform to optimize the performance and scalability of Cerence's CaLLM models, ensuring cutting-edge AI capabilities for its automotive partners. Financially, Cerence AI has demonstrated proactive cash management, as evidenced by the strategic repurchase of convertible senior notes, aimed at reducing debt and optimizing its balance sheet for long-term financial health.
The appointment of Tony Rodriquez as the permanent Chief Financial Officer underscores Cerence AI's commitment to strong financial leadership and strategic growth. Mr. Rodriquez brings extensive experience and a proven track record in financial management, strengthening the company's executive team. Cerence AI continues to focus on innovation, expanding its product offerings, and delivering value to its automaker customers through advanced AI solutions that redefine the in-car experience.
Headquartered in Burlington, Massachusetts, with a global presence, Cerence AI is committed to pushing the boundaries of AI innovation in transportation, shaping the future of connected and intelligent mobility.
Cerence Inc. (NASDAQ: CRNC) announced its partnership with VinFast, Vietnam's premier electric vehicle manufacturer, to integrate conversational AI into its smart EVs. This technology enables voice-activated access to essential in-car functions such as navigation, media, and climate controls, enhancing the user experience. The AI assistant can communicate in six languages, allowing for interactive, natural language conversations. Cerence's solutions aim to provide a seamless driver experience as VinFast expands its global footprint in the electric vehicle market.
Cerence Inc. (NASDAQ: CRNC) announced its ongoing collaboration with Audi to enhance the in-car assistant platform for the new Audi e-tron GT and Q4 e-tron. This partnership emphasizes voice-powered access to crucial features such as navigation and media control, showcasing the growing importance of the in-car experience in next-gen electric vehicles. The voice assistant, activated by "Hey, Audi," utilizes advanced speech recognition and natural language processing to facilitate a more intuitive interaction. Cerence aims to redefine electric mobility experiences through this innovative technology.
Cerence (NASDAQ: CRNC) will present at the Evercore ISI Autotech & AI Forum on September 21, 2021, at 2:00 p.m. Eastern Time. The presentation will feature CFO Mark Gallenberger and Vice President of Investor Relations Rich Yerganian in a fireside chat format. Investors can access the event via webcast through the company's website under the 'Events' section. A replay will also be available post-event. Cerence is a leader in creating connected mobility experiences, with over 400 million cars equipped with their technology.
Cerence (NASDAQ: CRNC) has announced its participation in the Jefferies Virtual Software Conference on September 14, 2021, at 11:00 a.m. ET. The event will feature a fireside chat with CEO Sanjay Dhawan and CFO Mark Gallenberger. Interested parties can access the live webcast through the 'Events' tab in the 'Investors' section of Cerence's website, where a replay will also be available post-event. Cerence is a leader in creating advanced mobility experiences, serving top automakers and integrating digital life with transportation.
Cerence Inc. (NASDAQ: CRNC) recently announced its participation in two upcoming conferences. The first is the Cowen 14th Annual Global Transportation & Sustainable Mobility Conference on September 9, 2021, at 10:40 a.m. ET, followed by the 2021 RBC Capital Markets Global Industrials Virtual Conference on September 10, 2021, at 8:40 a.m. ET. Both events will feature a fireside chat with CEO Sanjay Dhawan and CFO Mark Gallenberger. Investors can access the webcasts on Cerence's website, with replays available afterward.
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.
FAQ
What is the current stock price of Cerence (CRNC)?
What is the market cap of Cerence (CRNC)?
What does Cerence AI (CRNC) do?
What is Cerence AI's core technology?
How many cars use Cerence AI technology?
Who are Cerence AI's main customers?
What are Cerence AI's recent achievements?
Who is the CEO of Cerence AI?
Who is the CFO of Cerence AI?
What is Cerence AI's stock ticker symbol?
Where is Cerence AI headquartered?
What is Cerence AI's focus for the future?
