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 Inc. (NASDAQ: CRNC) has launched Cerence Link, a new AI-driven solution designed to enhance vehicle connectivity and safety for both modern and older cars. This offering, which has already been adopted by a major automaker in India, bridges the technological gap between connected and non-connected vehicles. Cerence Link provides features such as driver monitoring, emergency alerts, and vehicle diagnostics. With over 40 million cars produced without connectivity yearly, Cerence aims to improve safety and convenience for a broader range of drivers.
Cerence Inc. (NASDAQ: CRNC) partners with Microsoft to integrate communication and productivity tools, including Microsoft Teams, into Cerence’s AI-powered automotive assistants. This collaboration addresses the increasing need for effective remote work tools as companies adopt a work-from-anywhere model. By utilizing Azure Communication Services, drivers can enjoy a voice-first experience to manage meetings and notifications hands-free, enhancing productivity while driving. The solution supports automotive OEMs in implementing these features seamlessly, improving user experience and safety on the road.
Cerence, specializing in AI for automotive applications, reported Q3 fiscal 2022 results with GAAP revenue at $89 million, down from $96.8 million year-over-year. The GAAP gross margin decreased to 72.8%, while GAAP net loss reached $99.3 million. Despite challenges, the company achieved record professional services revenue and maintained strong productivity. Looking ahead, Cerence will not sign fixed contracts in Q4 to enhance long-term revenue predictability, with a projected revenue range of $52 million to $58 million for Q4 and $322 million to $328 million for the full fiscal year.
Cerence Inc. (NASDAQ: CRNC) is set to release its third quarter financial results for the period ending June 30, 2022, on August 9, 2022, at 7:00 a.m. ET. A live conference call will follow at 8:30 a.m. ET. Investors and analysts interested in the results are encouraged to register for the call. The company, a leader in creating mobility experiences, boasts over 450 million cars equipped with its technology.
Cerence (NASDAQ: CRNC) and CerebrumX have announced a strategic collaboration to develop an AI-powered connected vehicle data platform on AWS. This innovative solution aims to enhance driving experiences by leveraging real-time data from millions of connected vehicles. Supported by multiple OEMs, including four major North American automakers, the platform promises to create new revenue streams and improve in-vehicle services such as fleet management and usage-based insurance. This collaboration underscores the growing importance of connected vehicle data in driving safety and sustainability.
Cerence Inc. (NASDAQ: CRNC) has joined the MIH Consortium, aiming to enhance in-vehicle experiences for electric and autonomous vehicles. The Consortium, with over 2,300 members, focuses on creating an open EV ecosystem that fosters innovation and collaboration within the mobility industry. Cerence's expertise in conversational AI will contribute to developing key technologies and standards in the sector. CEO Stefan Ortmanns emphasized their commitment to improving driver and passenger safety, productivity, and comfort.
Cerence Inc. (NASDAQ: CRNC) has partnered with Lynk & Co to deliver AI-driven natural language processing and voice recognition for a seamless in-car experience. This collaboration will enhance vehicle functionalities like navigation and music control through voice commands, using the wake word 'Hey Frank.' Cerence's technologies will be integrated across Lynk & Co's vehicles, supporting various languages. The partnership highlights Cerence's commitment to advancing conversational AI in the automotive sector as Lynk & Co expands its presence in Europe.
Cerence Inc. (NASDAQ: CRNC) has been awarded the Informa Tech Automotive Award for its innovative Cerence Co-Pilot in-car assistant, recognized as the Cockpit of the Future Product of the Year.
This award highlights the advanced technology and integration of the Co-Pilot system, which enhances driver safety and comfort through proactive AI and rich interactivity. The announcement was made at AutoTech:Detroit on June 7, 2022, marking a significant achievement in automotive technology and customer satisfaction.
Faraday Future Intelligent Electric (NASDAQ: FFIE) has partnered with Cerence Inc. (NASDAQ: CRNC) to integrate advanced text-to-speech (TTS) technology into its upcoming FF 91 luxury electric vehicle, set for production in Q3 2022. This collaboration aims to enhance the in-car voice assistant's natural communication abilities through Cerence’s TTS and Speech Signal Enhancement (SSE) technologies. The FF 91's voice assistant will provide real-time information and facilitate better interactions, improving driver safety and comfort.
Cerence Inc. (NASDAQ: CRNC) announced that SAIC Mobility Robotaxi, part of SAIC Motor, selected Cerence to provide mobility assistant technology for its L4 self-driving robotaxi platform, marking a significant milestone in autonomous transportation in China. The Cerence Mobility Platform facilitates intuitive user interaction via voice, gesture, and gaze, enhancing passenger safety and enjoyment. This partnership underscores Cerence's role in advancing automobile innovations, a critical factor as robotaxis become more prevalent in urban environments.
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