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 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.
Cerence Inc. (NASDAQ: CRNC) announced participation in key industry events, showcasing its leadership in mobility solutions. Key highlights include a webinar on optimizing in-car experiences featuring Christophe Couvreur on November 12, 2020. Vanessa Tobisch will present on smart automotive voice assistants at World Usability Day on the same date. CEO Sanjay Dhawan will discuss vehicle teleoperation infrastructure issues at the NIST Vehicle Teleoperation Forum on November 13, 2020. Cerence continues to drive innovation in connected vehicles and autonomous driving.
Cerence Inc. (NASDAQ: CRNC) has announced a partnership with the SAE Foundation to enhance STEM education in the US and Canada through a charitable donation. This initiative aims to tackle the decline in student enrollments in STEM programs, crucial for innovation in the transportation sector. Cerence employees will engage as mentors, enriching the learning experience for students. The SAE Foundation's programs have impacted over 6 million students and involved more than 30,000 industry professionals. This collaboration aligns with Cerence's mission to create AI-powered mobility experiences.
Cerence Inc. (NASDAQ: CRNC) announced its participation in the Gabelli 44th Annual Automotive Aftermarket Symposium, set for November 2, 2020, at 10:30 a.m. Eastern Time. The event will feature a fireside chat with CEO Sanjay Dhawan. Investors can access the presentation via webcast on the company’s website under the ‘Events & Resources’ section. A replay will be available for 90 days following the event.
Cerence, a leader in AI for automotive applications, serves major automakers and boasts a presence in over 325 million cars worldwide.
Cerence Inc. (NASDAQ: CRNC) has partnered with XPeng Inc. (NYSE: XPEV) to provide a voice interaction platform for their G3 SUV and P7 sports sedan models. Utilizing Cerence ARK technology, XPeng enhances its Xmart OS In-Car Intelligent System with the AI-powered voice assistant 'Xiao P'. This assistant handles navigation, music playback, and in-car functions while operating on a hybrid architecture for reliable connectivity. The collaboration aims to support XPeng's global expansion, with plans to launch language capabilities in Norway.
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