Cerence Inc. - CRNC STOCK NEWS

Cerence Inc. (CRNC) reported its Q1 FY2023 results with a GAAP revenue of $83.7 million, down from $94.4 million in Q1 FY2022. GAAP gross margin decreased to 68.7% from 74.3%, while GAAP operating margin fell to -2.4%. The company recorded a GAAP net loss of $2.2 million compared to a profit of $19.0 million in the prior year. Non-GAAP measures showed net income of $14.2 million. The outlook for Q2 FY2023 projects revenue between $64 million to $68 million and adjusted EBITDA of $1 million to $4 million. The full-year revenue guidance was revised upward to $275 million to $290 million.

Cerence Inc. (NASDAQ: CRNC) has announced that a leading German OEM is the first automaker to implement Cerence Tour Guide, an AI-powered application that delivers professional guided tour content in Mercedes-Benz vehicles. The Tourguide feature provides information from around 3,400 tourist information boards in Germany, available in both German and English. By utilizing advanced technologies such as deep neural network-based text-to-speech and natural language processing, the application enriches drivers' experiences by offering real-time information about local attractions. This innovative partnership showcases Cerence's commitment to enhancing driver enjoyment and connectivity.

Cerence (NASDAQ: CRNC) will announce its first-quarter financial results for the period ending December 31, 2022, on February 8, 2023, at 7:00 a.m. ET. Following the announcement, the company will host a live conference call at 8:30 a.m. ET to discuss the results. Investors can register for the call and access the webcast on Cerence's website. The teleconference replay will be available until February 22, 2023, and the webcast will remain accessible on their site. Cerence is recognized as a leader in creating interactive experiences for the mobility sector, with over 450 million cars equipped with their technology.

Cerence Inc. (NASDAQ: CRNC) has partnered with BYD, a leading electric vehicle manufacturer, to integrate Cerence’s conversational AI into BYD's vehicles globally. This collaboration aims to enhance in-car experiences with voice-powered features and multi-language support, starting with select models. BYD's expansion into markets like Brazil and Thailand underscores its commitment to offering safe, enjoyable electric driving experiences. Cerence's CEO emphasized the market need for unique in-car systems to bolster OEM-customer connections.

Cerence Inc. (NASDAQ: CRNC) and what3words announce their partnership with Subaru as the first automaker to implement what3words voice input in Japanese. This move adds to the growing adoption of their voice-powered navigation solution, which has doubled its presence in vehicles over the last two years. Subaru's launch follows collaborations with other major automotive brands like Mercedes Benz and Tata Motors. Cerence's technology enhances navigation accuracy while simplifying user interaction, now available in multiple languages and offline use.

Cerence Inc. (NASDAQ: CRNC) will present at the 25th Annual Needham Growth Conference in New York City on January 10, 2023, at 9:30 a.m. Eastern Time. The presentation will feature CEO Stefan Ortmanns and CFO Tom Beaudoin, followed by a Q&A session. Investors and interested parties can access the event via webcast on Cerence's website under the 'Events' tab. A replay of the webcast will also be available after the event. With over 20 years of experience, Cerence is a leader in connected mobility, impacting more than 450 million cars globally.

Cerence (NASDAQ: CRNC) has partnered with iHeartMedia and Radioline to enhance audio content access for automakers. This collaboration aims to provide drivers with AI-powered access to a wide array of music, podcasts, and radio content. With 90% of prospective car buyers advocating for radio as standard in vehicles, the partnership is set to improve in-car entertainment experiences. Cerence combines voice recognition and natural language understanding to create seamless infotainment worldwide. This strategic alliance expands Cerence's audio entertainment portfolio significantly.

Cerence Inc. (NASDAQ: CRNC) announced its participation at the Raymond James Technology Investors Conference in New York City on December 6, 2022, at 1:40 p.m. Eastern Time. The event will feature a presentation by EVP and CFO Tom Beaudoin, followed by a Q&A session. Investors can access the conference via webcast on the Company’s website in the 'Events' section. A replay will also be available post-event. Cerence, a leader in mobility technology, creates innovative experiences for connected vehicles.

Cerence Inc. (NASDAQ: CRNC) reported robust fiscal year 2022 results, with bookings hitting $684M, a 16% increase from the previous year. The company recorded GAAP revenue of $327.9M, down from $387.2M in fiscal 2021. Despite a GAAP net loss of $310.8M, Cerence showcased significant operational growth, with technology utilized in 51% of global auto production. Looking ahead, the company plans to detail its growth strategy during the upcoming investor day on November 29, 2022.