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Dec 31, 2022
Cerence Q1 2023 Earnings Report
Cerence reported first quarter fiscal year 2023 results, with revenue higher than projected in the core business due to stronger than expected contributions from connected services, professional services, and fixed contracts.
Key Takeaways
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.
Strong Core Business drives revenue and profitability
Cerence Co-Pilot wins four more customers, including two win-backs
Cerence Ride wins three more design awards for two-wheelers
Investor Day sets “Destination Next” long-term growth strategy
Cerence
Cerence
Cerence Revenue by Segment
Revenue by Segment
License Revenue
CapyFin.com Forward Guidance
For the fiscal quarter ending March 31, 2023, revenue is expected to be in the range of $64 million to $68 million. Adjusted EBITDA is expected to be in the range of approximately $1 million to $4 million. For the full fiscal year ending September 30, 2023, the company has raised the low end of the initial guidance with revenue now expected to be in the range of $275 million to $290 million. Adjusted EBITDA is expected to be in the range of approximately $27 million to $34 million.