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) has partnered with CarPay-Diem to integrate its AI-powered fuel payment platform into Cerence Pay, enhancing the in-car payment experience in Europe.
This collaboration enables drivers to pay for fuel using voice commands, ensuring secure transactions while minimizing smartphone reliance. Currently operational in Benelux and France, CarPay-Diem plans to expand across 10 European countries by 2022. This partnership not only optimizes convenience for drivers but also opens new revenue streams for OEMs and fuel stations, promoting personalized offers and loyalty rewards.
Cerence (NASDAQ: CRNC) and tooz technologies, a joint venture of ZEISS and Deutsche Telekom, have announced a collaboration to integrate conversational AI with smart glasses to enhance the two-wheeler rider experience. The partnership aims to improve safety and intelligence in mobility through the use of the Cerence 2-Wheeler Mobility Platform, which allows riders to stay informed while keeping their focus on the road. The tooz Smart Glasses will display essential information like navigation and traffic updates directly in the rider's field of view, aiming for a safer and more enjoyable riding experience.
Cerence reported a record revenue of $98.7M for Q2 FY2021, marking a 14% increase year-over-year. The company exceeded guidance in all financial metrics, achieving a GAAP net income of $11.2M and an Adjusted EBITDA of $39.3M. Full-year guidance has been raised, anticipating revenue between $380M and $390M, reflecting a 15% to 18% growth compared to the previous year. Strong bookings in new Applications and strategic wins in the two-wheeler market were also highlighted, reinforcing Cerence's competitive position and innovation.
Cerence has partnered with P97 Networks to enhance payment options at gas stations across the US via voice-powered in-car payments. The collaboration expands the Cerence Pay ecosystem, offering a secure and seamless payment experience. With P97's mobile commerce platform, drivers can easily locate fueling stations, check prices, and make purchases—all using voice commands. The partnership aims to improve productivity and safety for drivers, providing an innovative solution integrated with major fuel brands in over 30% of retail fuel sites in the country.
Cerence Inc. (NASDAQ: CRNC) will present at the 2021 Wells Fargo Securities Virtual Industrials Conference on May 6, 2021, at 11:20 a.m. ET. The discussion will feature CEO Sanjay Dhawan and CFO Mark Gallenberger in a fireside chat format. The event will be webcast and accessible through the 'Events & Resources' section of Cerence's website. A replay of the webcast will also be available on their site. Cerence is a leader in providing innovative solutions for connected mobility, with over 350 million cars equipped with their technology.
Cerence (NASDAQ: CRNC) will announce its second quarter fiscal 2021 financial results on May 10, 2021, at 7:00 a.m. EST. The company will host a conference call at 10:00 a.m. EST to discuss the results. Investors can access the call by dialing 1.844.467.7116 (domestic) or +1.409.983.9838 (international) with pass code 7998527. The replay will be available through May 17, 2021. Cerence is recognized as a leader in creating advanced mobility experiences and has shipped over 350 million cars equipped with its technology.
Cerence (NASDAQ: CRNC) has received significant recognition at the 2021 Project Voice Awards, being honored as Independent Voice/AI Company of the Year and Voice Developer of the Year. CEO Sanjay Dhawan was named Voice/AI Executive of the Year, reflecting the company's rapid innovation and leadership in voice and conversational AI. Their collaboration with Mercedes-Benz on the next-gen MBUX system also earned them the Automotive Voice/AI Developer of the Year award. Cerence’s innovative use of AI technology highlights its position in the mobility landscape.
Cerence Inc. (CRNC) announced its collaboration with Hyundai Motor Company to provide Dynamic Voice Recognition in the new IONIQ 5, enhancing the electric vehicle experience. Utilizing hybrid embedded and cloud technologies, this voice-powered assistant allows drivers to control navigation, communication, and in-car functions seamlessly. CEO Sanjay Dhawan emphasized the importance of technology in improving safety and convenience for EV drivers. This partnership aims to redefine the electric vehicle experience, focusing on driver comfort and safety.
Cerence Inc. (NASDAQ: CRNC) announced participation in several key automotive and voice technology events from April to May 2021. Cerence's VP of Product, Christophe Couvreur, will discuss edge computing applications at NVIDIA GTC 21 on April 12. The company’s CEO, Sanjay Dhawan, will be featured at the Project Voice Council and The Voice of the Car Summit. Other executives will present insights on conversational AI systems and multi-modal applications at various industry conferences. These engagements showcase Cerence's leadership in AI-driven mobility solutions.
Cerence Inc. (NASDAQ: CRNC) has launched its Cerence Drive conversational AI platform on Android Automotive OS, enabling automakers to create custom-branded voice assistants. This OS-agnostic offering allows manufacturers to maintain brand ownership, control over driver data, and facilitate interoperability with major tech ecosystems. The platform enhances driver experience through features like multi-intent support and noise cancellation. Cerence aims to provide a seamless integration of branded experiences while preserving data visibility for ongoing improvement and innovation.
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