NUAN - NUAN STOCK NEWS

Nuance Communications announced an expansion of its ambient AI capabilities within the Nuance PowerScribe platform, aimed at enhancing diagnostic imaging reporting. The new features will allow radiologists to generate accurate reports more efficiently, addressing the pressing issue of workforce burnout. With over a third of imaging professionals experiencing burnout, and demand for services outpacing supply by more than 25% in some states, these advancements are critical. The platform's Ambient Mode leverages AI in the Microsoft Azure cloud to automate report structuring, supporting clinical excellence and improving radiologist productivity.

On March 4, 2022, Microsoft (Nasdaq: MSFT) announced the completion of its acquisition of Nuance Communications Inc. (Nasdaq: NUAN), a leader in conversational AI. This strategic acquisition aims to enhance Microsoft's cloud-based solutions across various industries, particularly in healthcare and financial services. By integrating Nuance's advanced AI capabilities, Microsoft will improve customer experiences, productivity, and financial performance. Mark Benjamin will continue as Nuance's CEO, reporting to Scott Guthrie, EVP of Microsoft's Cloud + AI Group.

Nuance Communications (NASDAQ: NUAN) reported Q1 2022 financial results, showing GAAP revenue of $321.4 million with a net loss of $57.6 million or $(0.18) per share. Non-GAAP revenue was also $321.4 million, with earnings of $0.08 per share. Despite a 1% year-over-year growth in Healthcare, overall revenue declined due to a 16% drop in Enterprise revenue as the company transitions to a cloud-based model. The acquisition by Microsoft is expected to close by the end of Q1 2022, following shareholder approval.

Nuance Communications (NASDAQ: NUAN) plans to release its Q1 fiscal 2022 results on February 7, 2022, after market close. The release coincides with a pending acquisition by Microsoft, which has received shareholder approval and is expected to finalize by the end of Q1 2022, pending regulatory approvals. Due to this acquisition, Nuance will not hold a conference call or issue Prepared Remarks for the earnings release. Nuance, a leader in conversational AI, serves 77% of U.S. hospitals and 85% of Fortune 100 companies, showcasing its impactful presence in the tech industry.

Nuance Communications (NASDAQ: NUAN) has expanded its strategic partnership with Genesys, allowing Genesys Cloud CX customers integrated access to Nuance Contact Center AI. This integration aims to enhance customer experience through conversational virtual assistants and biometric security features. The partnership is positioned to respond to the rapid digital transformation, offering organizations the flexibility to adopt advanced CCaaS capabilities. Both companies focus on delivering intelligent omnichannel solutions while ensuring data security and privacy for enterprises.

Nuance Communications (NASDAQ: NUAN) has been named a market leader in Opus Research's 2022 Intelligent Authentication and Fraud Prevention Report. The report highlighted Nuance Gatekeeper, a cloud-native biometric security solution, for its product completeness and flexibility, placing it at the top among 21 evaluated vendors. Nuance was recognized for its extensive implementations and innovative R&D, achieving up to 99% authentication success in as little as 0.5 seconds. The company's technology has contributed to over $2 billion in annual fraud losses prevented.