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Jun 30, 2023
Cerence Q3 2023 Earnings Report
Cerence reported third quarter fiscal year 2023 results, with revenue and key profitability metrics at or above the high end of guidance.
Key Takeaways
Cerence's Q3 2023 results showed strength in the core automotive business with new OEM platform launches and emerging market growth, along with progress in the two-wheeler market, all while focusing on leveraging generative AI and large language models.
On track to achieve full fiscal year revenue guidance
Strategic wins for connected services for a major Japanese OEM and Emergency Vehicle Detection for a major Korean OEM's ADAS platform
Two-wheeler design win for major Japanese brand; four two-wheeler manufacturers start production (SOP)
Successful convertible note offering leading to approximately $8 million in annual interest expense savings
Revenue by Segment
Forward Guidance
For the fiscal quarter ending September 30, 2023, revenue is expected to be in the range of $72 million to $76 million. GAAP Net Loss is expected to be in the range of ($13) million to ($9) million. Adjusted EBITDA is expected to be in the range of approximately $10 million to $14 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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