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Jun 30, 2020
Cerence Q3 2020 Earnings Report
Cerence reported third quarter results, showing a slight decrease in revenue but strategic wins in major geographic markets.
Key Takeaways
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.
Bookings momentum continued with the second highest total in the company’s history.
Fiscal year-to-date revenue reached $238.8 million, up 8% year-over-year.
Generated adjusted EBITDA of $23.8M and adjusted EBITDA margin of 31.8%.
Successfully refinanced total debt resulting in more than $10M annual cash interest expense savings.
Revenue by Segment
Forward Guidance
For the fiscal quarter ending September 30, 2020, GAAP revenue is expected to be in the range of $76M to $80M. Adjusted EBITDA is expected to be in the range of $23M to $26M.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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