Loading...
•
Mar 31, 2024
Cerence Q2 2024 Earnings Report
Cerence's Q2 revenue exceeded guidance due to OEM adjustments, but FY24 guidance was lowered and multi-year plan withdrawn.
Key Takeaways
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.
Q2 revenue was above the high end of the guidance range due to OEM-related adjustments.
FY24 guidance was lowered and multi-year plan was withdrawn.
Q2 results included a Goodwill impairment charge of approximately $252 million.
Early success with new generative AI products and validation of next-gen platform reported.
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 June 30, 2024, revenue is expected to be in the range of $66 million to $72 million. GAAP net income is expected to be in the range of ($4) million to $2 million. Adjusted EBITDA is expected to be in the range of approximately $5 million to $11 million. For the full fiscal year ending September 30, 2024, the company expects revenue to be in the range of $318 million to $332 million which includes an estimated $30 million of fixed contracts. GAAP Net loss is expected to be in the range of ($256) million to ($242) million. Adjusted EBITDA is expected to be in the range of approximately $58 million to $72 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income