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 (NASDAQ: CRNC) and Xevo have announced a strategic partnership to integrate Cerence Pay into Xevo Market, enabling voice-activated contactless payments in vehicles. This collaboration aims to enhance the in-vehicle experience for consumers, allowing for secure transactions with popular brands while driving. The companies plan to expand their offerings further with Cerence Drive and Xevo Glass for a customizable infotainment solution. This partnership not only meets consumer demand for intuitive technology but also opens new revenue opportunities for OEMs.
Cerence Inc. (NASDAQ: CRNC) has launched Cerence Look, a groundbreaking feature enhancing the MBUX infotainment system in the new Mercedes-Benz S-Class. This innovation allows drivers to interact with points of interest outside their vehicles using natural language. With Cerence Look, users can simply look at landmarks or businesses and inquire about them, streamlining how information is accessed while driving. This multimodal interaction combines voice recognition with real-world context, improving safety and convenience for users.
BURLINGTON, Mass., Jan. 07, 2021 – Cerence (NASDAQ: CRNC) will host a live virtual event, Cerence In Motion, on January 19, 2021, from 10:00 AM to 11:30 AM ET. This event will showcase the company's latest conversational AI platform and cloud products aimed at enhancing connected mobility strategies. Special guest Sunny Madra from Ford will discuss advancements alongside Cerence leadership. The event promises new innovations for intelligent automotive assistance and improved driver experiences.
Cerence (NASDAQ: CRNC) will present at the 23rd Annual Needham Growth Conference on January 13, 2021, at 1:15 p.m. ET. CEO Sanjay Dhawan will participate in a fireside chat format. Interested parties can access the live webcast via the Company's website under the 'Events & Resources' section. A replay will also be available post-event. Cerence is a leader in automotive AI, enhancing vehicle experiences and advancing technologies for connected and autonomous cars.
Cerence Inc. (NASDAQ: CRNC) has joined a three-year project called EMMI, aimed at enhancing trust in autonomous vehicles. Funded by Germany’s Federal Ministry for Economic Affairs and Energy, Cerence will develop emotionally aware automotive assistants. A Deloitte study indicates that while 61% of German drivers are open to autonomous technology, 90% desire control, citing safety concerns. Cerence aims to address these issues through emotion recognition technology to improve driver comfort and confidence.
Cerence Inc. (NASDAQ: CRNC) has been chosen by FCA to supply conversational AI for the all-new electric Fiat 500, marking FCA's first fully electric vehicle. The AI assistant, activated by saying “Hey Fiat,” enhances the driver experience with features like navigation, media access, and integration with Amazon Alexa. The system supports natural language commands, allowing effortless interaction. This partnership underscores Cerence's commitment to leading innovation in the automotive industry.
Cerence Inc. (NASDAQ: CRNC) has partnered with Mercedes-Benz to enhance its voice technology in the second-generation MBUX system. This update introduces an advanced voice assistant, enabling personalized and intuitive interactions for drivers and passengers. Key features include voice biometrics for personalization, natural language understanding in 27 languages, and multi-seat speech recognition. The system aims to deliver a more seamless driving experience, supporting functions from navigation to smart home integration.
BURLINGTON, Mass., Nov. 23, 2020 – Cerence (NASDAQ: CRNC) announced participation in key industry events focusing on evolving mobility business models. Upcoming presentations include Nils Lenke, VP & GM of Apps, at Frost & Sullivan’s Intelligent Mobility Summit on November 24, discussing in-car commerce and automotive business models. Additionally, CTO Prateek Kathpal will join a Reuters webinar on December 3 about software-defined cars and new success models. Cerence enhances driving experiences, serving over 325 million cars globally.
Cerence (NASDAQ: CRNC) reported impressive fourth-quarter results for FY2020, highlighting a record in bookings, driving its backlog to over $1.8 billion.
Q4 revenue surged by 21% quarter-over-quarter and 10% year-over-year, achieving a new quarterly record of $90.9 million. For the fiscal year, total revenue reached $329.6 million.
Furthermore, the company generated $26 million in GAAP net cash from operating activities in Q4 and an adjusted EBITDA of $40.3 million, signaling strong financial health.
Cerence Inc. (NASDAQ: CRNC) will report its Q4 and full fiscal year 2020 financial results on November 16, 2020, at 7:00 a.m. EST. A live conference call will follow at 10:00 a.m. EST, where executives will discuss the results. Investors can participate via phone or access the webcast through the company's website. The replay for the teleconference will be available until November 23, 2020. Cerence is recognized as a leader in automotive AI, enhancing user experiences in over 325 million cars worldwide. For details, visit cerence.com.
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