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Cerence Inc. - CRNC STOCK NEWS

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.

News

Cerence to Announce Fiscal Second Quarter Results on May 9, 2024

Rhea-AI Summary
Cerence Inc. to announce its fiscal second quarter results on May 9, 2024. The company will host a live conference call and webcast to discuss the results. Interested investors and analysts can join the conference call or access the webcast through the company's website.
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Foxtron and Cerence Collaborate to Bring First-of-its-Kind Intuitive Interaction to Foxtron’s New Electric Vehicles in Taiwan

Rhea-AI Summary
Foxtron, a subsidiary of Hon Hai Technology Group, collaborates with Cerence Inc. (NASDAQ: CRNC) to introduce voice-powered interaction in their new electric vehicles in Taiwan. The partnership aims to enhance the user experience and support the expansion of Foxtron globally. Cerence Assistant will provide bilingual recognition in Taiwanese Mandarin and English, allowing drivers to control key vehicle features through voice commands. The collaboration signifies a significant step in the advancement of electric vehicle technology and the integration of AI solutions in the automotive industry.
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Cerence Engages First Automaker Customers for CaLLM™, Its Pioneering Automotive Large Language Model

Rhea-AI Summary
Cerence Inc. (CRNC) announces early momentum for its CaLLM™ automotive-specific LLM, working with three major global automakers. The solution, powered by NVIDIA technology, aims to revolutionize the in-car computing platform, offering a customizable end-to-end solution for automakers.
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Cerence Announces Equity Grant to Employee Under Inducement Plan

Rhea-AI Summary
Cerence Inc. grants its new CFO, Daniel Tempesta, equity awards totaling $6 million, comprising time-based and performance-based restricted stock units. The awards vest over several years, contingent on Tempesta's continued service and the company's performance. The grants were given as an inducement for Tempesta's employment.
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Cerence Names Daniel Tempesta as Chief Financial Officer

Rhea-AI Summary
Cerence Inc. appoints Daniel Tempesta as new CFO, bringing over 30 years of financial expertise from Nuance Communications. Tempesta aims to drive growth and enhance value for Cerence.
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Cerence Announces Its Participation at Two Upcoming Investor Conferences

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Cerence Inc. (CRNC) will be presenting at two major investor conferences in March, featuring key executives in fireside chats. The webcasts will be available on the company's website.
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Cerence Announces First Quarter Fiscal Year 2024 Results

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Cerence Inc. (CRNC) reported its first quarter fiscal year 2024 results, with revenue and profitability exceeding guidance, maintaining a leadership position, and securing new business. The company announced AI partnerships with NVIDIA and Microsoft, and key performance indicators show strong growth. However, Q1FY24 revenue includes non-cash revenue associated with the Toyota 'Legacy' contract, and the company provided outlook for the second quarter and full year fiscal 2024.
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Cerence to Announce Fiscal First Quarter Results on February 6, 2024

Rhea-AI Summary
Cerence Inc. (CRNC) will announce its first quarter financial results for the quarter ended December 31, 2023 on February 6, 2024. The company will host a live conference call and webcast to discuss the results. Interested investors and analysts can join the audio conference call and access the webcast on the company's website.
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1.97%
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Cerence and Škoda Elevate the In-Vehicle Experience with Cerence Chat Pro

Rhea-AI Summary
Cerence Inc. (NASDAQ: CRNC) will provide generative AI features for Škoda, a Volkswagen Group brand, launching a new in-car assistant experience leveraging Cerence Chat Pro. The integration will empower drivers and passengers to engage in general knowledge chit-chat beyond Laura’s existing voice-control features. The deployment is set for mid-2024, with a focus on making each journey more intelligent, enjoyable, and safe.
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Great Wall Motor Selects Cerence to Power In-Car Experience as Automaker Expands Globally

Rhea-AI Summary
Cerence Inc. (NASDAQ: CRNC) has announced a collaboration with Great Wall Motor Company (GWM) to power the in-car experience across its lineup as it expands worldwide. GWM will deploy Cerence Assistant and Cerence Speech Signal Enhancement (SSE) in 13 languages across 20 countries in key car models, bringing intuitive, natural interaction to drivers globally. The collaboration aims to fortify GWM’s global strategy, promising a more intelligent and user-centric interactive experience for customers across the globe.
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FAQ

What is the current stock price of Cerence (CRNC)?

The current stock price of Cerence (CRNC) is $5.83 as of November 21, 2024.

What is the market cap of Cerence (CRNC)?

The market cap of Cerence (CRNC) is approximately 206.3M.

What is Cerence Inc.?

Cerence Inc. (NASDAQ: CRNC) is a software company that specializes in creating advanced, AI-driven solutions for connected mobility, partnering with leading automakers and mobility OEMs.

What recent changes have occurred in Cerence’s leadership?

Daniel Tempesta was recently appointed as Chief Financial Officer, bringing over 30 years of financial expertise to the role.

What is CaLLM™?

CaLLM™ (Cerence Automotive Large Language Model) is an automotive-specific large language model that powers next-generation in-car computing platforms, currently being adopted by three major global automakers.

How does Cerence generate revenue?

Cerence generates revenue primarily through software licenses and cloud-connected services.

What is Cerence's geographical revenue distribution?

A majority of Cerence's revenue is derived from the United States, with significant contributions from Europe, the Middle East, Africa, and Asia-Pacific regions.

What partnerships has Cerence recently announced?

Cerence has partnered with Foxtron to integrate voice-powered interaction in electric vehicles and with BMW Group to enhance safety features using Cerence Emergency Vehicle Detection technology.

What are Cerence's latest innovative projects?

Cerence's recent projects include the CaLLM™ large language model and the integration of Emergency Vehicle Detection technology in BMW's automated driving systems.

How is Cerence addressing market challenges?

Cerence is focusing on advancing its generative AI and large language model product roadmap and adjusting its cost structure to improve financial results despite market challenges.

What financial outlook has Cerence provided for FY 2024?

For FY 2024, Cerence expects revenue between $318 million to $332 million and adjusted EBITDA between $58 million to $72 million.

Where can I find more information about Cerence?

For more information, visit Cerence's website at www.cerence.com and follow the company on LinkedIn and Twitter.

Stock CRNC logo
Cerence Inc.

Nasdaq:CRNC

CRNC Rankings

#3825 Ranked by Market Cap
N/A Ranked by Dividends

CRNC Stock Data

206.30M
39.45M
5.74%
83.35%
15.69%
Software - Application
Services-prepackaged Software
Link
United States of America
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