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Dec 31, 2019
Cerence Q1 2020 Earnings Report
Cerence reported strong financial performance in its first quarter as an independent company.
Key Takeaways
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.
GAAP revenue increased approximately 7% year over year.
Delivered strong financial performance first quarter as an independent company.
Won 7 new OEM design wins including a next generation platform decision for a major European OEM.
Achieved 30 Vehicle Model SOPs (Start of Production) with 10 different OEMs.
Cerence
Cerence
Cerence Revenue by Segment
Revenue by Segment
License Revenue
CapyFin.comConnected services Revenue
CapyFin.comProfessional services Revenue
CapyFin.com Forward Guidance
For the fiscal quarter ending March 31, 2020, GAAP revenue is expected to be in the range of $80M to $82M representing a 15% increase at the midpoint compared to the same period in the prior year. Adjusted EBITDA for Q2FY20 is expected to be in the range of $22M to $24M. Cerence reaffirms its full-year GAAP revenue guidance of $321M to $336M that was previously disclosed on December 17, 2019, while raising all its profitability metrics including non-GAAP gross margin, non-GAAP operating margin and adjusted EBITDA.
Positive Outlook
- GAAP revenue is expected to be in the range of $80M to $82M, representing a 15% increase at the midpoint compared to the same period in the prior year.
- Adjusted EBITDA for Q2FY20 is expected to be in the range of $22M to $24M.
- Reaffirms full-year GAAP revenue guidance of $321M to $336M.
- Raising all its profitability metrics including non-GAAP gross margin.
- Raising all its profitability metrics including non-GAAP operating margin and adjusted EBITDA.
Revenue & Expenses
Visualization of income flow from segment revenue to net income