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 participation in the Cowen Mobility Disruption Conference on March 11, 2021, at 11:50 a.m. ET. The presentation will involve a fireside chat featuring CEO Sanjay Dhawan and CFO Mark Gallenberger. Interested parties can access the live webcast through the 'Events & Resources' section on the Cerence website. A replay will also be available post-event. Cerence is a leader in AI for mobility, facilitating connections between consumers and their transportation modes.
Cerence Inc. (NASDAQ: CRNC) and CerebrumX have entered a strategic partnership to enhance the connected car experience and generate new revenue streams for OEMs. This collaboration integrates CerebrumX's Augmented Deep Learning Platform (ADLP) into Cerence Drive, facilitating real-time data insights. With over 50 million connected vehicles, the integration aims to unlock value through AI-powered applications such as predictive maintenance and usage-based insurance. This partnership positions Cerence to capitalize on the growing opportunities within the automotive data ecosystem.
Cerence announced a partnership with ECARX and Lotus Cars to enhance voice-powered technologies for Lotus drivers. This collaboration aims to improve safety and user experience through Cerence's advanced voice recognition and natural language understanding capabilities. Utilizing a hybrid embedded-cloud architecture, the technology promises seamless interaction. The partnership aligns with Lotus's transformation under Geely, with a new range of performance cars set to debut soon. This initiative reflects Cerence's commitment to innovating in the mobility sector.
Cerence Inc. (NASDAQ: CRNC) announced that CEO Sanjay Dhawan and BMW Group's Simon Euringer will speak at Voicebot.AI's event on March 3, 2021, focusing on voice AI's future in automotive contexts. Cerence leaders will participate in several industry events throughout March, showcasing innovations in AI and user experience (UX) for mobility. Highlights include presentations on new solutions for integrating digital lives into vehicles and discussions on conversational AI's impact on driving experiences. Cerence aims to enhance the interaction between consumers and mobility.
Cerence Inc. (NASDAQ: CRNC) will present at the Raymond James 42nd Annual Institutional Investors Conference on March 3, 2021, at 3:00 p.m. ET. The session will feature CEO Sanjay Dhawan and CFO Mark Gallenberger in a fireside chat format. Interested parties can access the webcast in the 'Events & Resources' section of Cerence's website. A replay will also be available following the event. Cerence is a leading innovator in mobility experiences, having shipped over 350 million cars equipped with its technology.
Cerence Inc. (NASDAQ: CRNC) has launched Cerence Tour Guide, an AI-powered application for automotive assistants that integrates professional travel content into vehicles. This innovation, developed in partnership with Viator and Road.Travel, enhances driving experiences by providing historical insights and booking capabilities while driving. The app features two modes: Planned Tour for organized trips and Explore Mode for dynamic suggestions along routes. This initiative aims to deepen connections between drivers and their automotive brands while creating new revenue streams for OEMs.
Cerence Inc. reported a 23% revenue growth in Q1 FY21, achieving record revenues of $95 million, exceeding all financial guidance. The company secured a major contract with a European OEM for next-generation infotainment systems and launched new applications like Cerence Pay. Key metrics include a GAAP net income of $21.6 million and an Adjusted EBITDA of $40.3 million. For Q2 FY21, revenue is projected at $92 million to $95 million, while full-year guidance has been updated to $370 million to $380 million.
Cerence Inc. (NASDAQ: CRNC) announced its upcoming participation in the Goldman Sachs Technology and Internet 2021 Conference on February 10, 2021, at 9:40 a.m. Eastern Time. The chat will feature Sanjay Dhawan, CEO, and Mark Gallenberger, CFO, discussing the company's advancements in automotive AI. Investors can access the presentation via the company’s website under the “Events & Resources” section, with a replay available afterward. Cerence is recognized for enhancing driving experiences with over 20 years in the industry and over 350 million cars equipped with its technology.
Cerence Inc. (NASDAQ: CRNC) has received the Best Ecological Cooperation Developer of 2020 Award at the Baidu Maps Annual Developer Ceremony in Beijing. This recognition highlights Cerence's collaboration with Baidu, enhancing automotive mapping services through AI and big data. The integration of Baidu's mapping solutions into the Cerence Automotive Platform aims to deliver personalized and intelligent driving experiences, meeting the rising demand for advanced automotive technology. With over 500,000 mobile applications utilizing Baidu’s services, Cerence continues to strengthen its footprint in the mobility industry.
Cerence Inc. (NASDAQ: CRNC) will announce its fiscal Q1 2021 financial results on February 8, 2021, for the quarter ending December 31, 2020. A conference call will be hosted at 10:00 a.m. EST, allowing investors and analysts to discuss the results. The teleconference replay will be available until February 15, 2021. Cerence is recognized for its innovative mobility solutions, having shipped over 350 million cars equipped with its technology, positioning itself as a leader in connected mobility.
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