Cerence Earnings Reports

Cerence reported strong results for Q2 FY25, exceeding the high end of its revenue and adjusted EBITDA guidance. The company achieved its fourth consecutive quarter of positive free cash flow and saw significant year-over-year improvements in revenue, profitability, and gross margin. Full-year guidance was reiterated for revenue and raised for profitability and cash flow.

Cerence announced its first quarter fiscal year 2025 results, reporting revenue of $50.9 million and adjusted EBITDA of $1.4 million. The company exceeded its top-line revenue and adjusted EBITDA guidance, demonstrating solid momentum for 2025 with progress on generative AI roadmap and continued automaker customer wins.

Cerence reported Q4 revenue exceeding the high end of guidance and positive cash flow from operations. The company's transformation plan is on track, and it saw a record number of platform launches, including generative AI solutions.

Cerence reported Q3 revenue in line with guidance and positive cash flow from operations of $12.9 million. The company released five generative AI customer programs to production and expects transformation plans to deliver net annualized cost savings of $35-40 million, predominantly realized in FY25.

Cerence's Q2 revenue slightly decreased year-over-year but was above the high end of the guidance range due to OEM-related adjustments. The company is lowering its FY24 guidance and withdrawing its multi-year plan. A Goodwill impairment charge of approximately $252 million was included in Q2 results. The company sees initial success with new generative AI products and early validation of its next-gen platform.

Cerence's Q1 2024 results exceeded the high end of guidance, driven by advancements in AI technology and strategic partnerships with NVIDIA and Microsoft. The company secured key business wins, including a win-back for a large Japanese OEM and a major win in AIoT. Revenue was significantly impacted by the acceleration of non-cash revenue from the Toyota "Legacy" contract.

Cerence's Q4 2023 revenue was $80.8 million, exceeding the high end of the initial guidance range. The company also reported a GAAP net loss of $11.6 million, but a non-GAAP net income of $3.8 million. Cerence secured 14 strategic design wins in fiscal year 2023, including five competitive winbacks, and maintained a leadership position with Cerence technology in 54% of global auto production.

Cerence's Q3 2023 results showed strength in the core automotive business with new OEM platform launches and emerging market growth, along with progress in the two-wheeler market, all while focusing on leveraging generative AI and large language models.

Cerence Inc. reported strong Q2 results driven by its core automotive business, with revenue and key profitability metrics above the high end of the range. Bookings for the first half of the fiscal year were $263 million, up 11% over the second half of fiscal 2022. The company is raising the low end of its full fiscal year revenue guidance by $5 million to $280 million.

Cerence had a strong start to the fiscal year with revenue higher than projected in the core business. Cerence Co-Pilot wins four more customers, including two win-backs. Cerence Ride wins three more design awards for two-wheelers.

Cerence reported better-than-expected fourth-quarter operating results, which included no contribution from fixed contracts. The company's bookings reached $684 million, a 16% increase compared to fiscal year 2021.

Cerence Inc. reported its third quarter fiscal year 2022 results. The company delivered strong performance in its core automotive business and achieved record professional services revenue. Cerence secured key wins and nominations, including a win back from Big Tech. The company is maintaining a strong focus on productivity, performance-based operations, and cost structures.

Cerence Inc. reported a GAAP revenue of $86.3 million for the second quarter of fiscal year 2022, a decrease compared to $98.7 million in the same period last year. The company experienced a GAAP net loss of $0.5 million, contrasting with a net income of $11.2 million in the prior year. Despite these challenges, Cerence highlighted deepened relationships with long-term customers and expansion in newer areas like heavy trucking and two-wheelers.

Cerence reported a strong start to fiscal year 2022 with the second largest bookings quarter in the company's history. The company exceeded most profitability metrics for the quarter and secured initial revenue contribution from fitness products, a new mobility market. However, the company lowered FY2022 guidance due to evolving conditions within the automotive industry and a slower than expected conversion from bookings to revenue for new products.

Cerence Inc. reported its fourth quarter and fiscal year 2021 results, showing a 7.5% year-over-year quarterly revenue growth. The company secured strong bookings of $590 million for the full year, increasing the backlog to approximately $2 billion. Cerence also won its first major customer in the building mobility market for the connected elevator of the future.

Cerence's third quarter 2021 results showed a 29% year-over-year revenue growth and exceeded company quarterly guidance on key GAAP and non-GAAP profitability metrics. The company also increased FY24 revenue target from $600M to $700M, and improved key profitability metrics. Record number of auto SOPs (Start Of Production) from over 15 auto OEMs was achieved and strategic collaborations were announced in the quarter with Sirius XM, Visteon and Harman.

Cerence reported a record second quarter with revenue reaching $98.7 million, a 14% increase compared to the same quarter last fiscal year. The company exceeded its quarterly guidance on all GAAP and non-GAAP financial metrics and delivered strong GAAP Net Income of $11.2M and Adjusted EBITDA of $39.3M. Cerence also raised its full-year revenue and profitability guidance.

Cerence Inc. reported a strong start to fiscal year 2021 with revenue growth of 23% compared to the same quarter last year. The company exceeded its quarterly guidance on all GAAP and non-GAAP financial metrics. They also secured multiple contract awards for new applications, including winning back a major European OEM.

Cerence's third quarter revenue was $74.8 million, a slight decrease from the previous year. However, the company saw strong bookings momentum and generated $19.3 million in cash flow from operations. They also successfully refinanced their debt, leading to significant annual interest savings.

Cerence Inc. reported its second fiscal quarter 2020 results with record quarterly GAAP revenue at $86.5M, an increase of approximately 23% year over year. The company also reported GAAP EPS of $0.33 and non-GAAP EPS of $0.43.

Cerence's Q1 2020 GAAP revenue increased by approximately 7% year over year. The company won 7 new OEM design wins, including a next-generation platform decision for a major European OEM, and achieved 30 Vehicle Model SOPs with 10 different OEMs.