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Mar 31, 2022
Cerence Q2 2022 Earnings Report
Cerence's financial performance declined due to headwinds facing the global automotive industry, despite solid financial results fueled by deepened relationships with long-term customers.
Key Takeaways
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.
First half bookings totaled $448 million, up 53% compared to 1HFY21
Bookings include a significant business increase with a North American OEM
Several Chinese EV makers adopt Cerence technology for global expansion
Maintain full fiscal year 2022 guidance
Revenue by Segment
Forward Guidance
For the fiscal quarter ending June 30, 2022, revenue is expected to be in the range of $90 million to $94 million. Adjusted EBITDA is expected to be in the range of approximately $26 million to $30 million. The full-year fiscal 2022 guidance provided by Cerence on February 7, 2022, remains unchanged.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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