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Sep 30, 2023
Cerence Q4 2023 Earnings Report
Cerence reported strong Q4 and fiscal year results, exceeding revenue and profitability guidance.
Key Takeaways
Cerence's Q4 2023 revenue was $80.8 million, exceeding the high end of the initial guidance range. The company also reported a GAAP net loss of $11.6 million, but a non-GAAP net income of $3.8 million. Cerence secured 14 strategic design wins in fiscal year 2023, including five competitive winbacks, and maintained a leadership position with Cerence technology in 54% of global auto production.
Revenue and profitability exceeded the high end of the initially guided range for the full fiscal year.
Cerence had five consecutive quarters of strong execution.
Fourteen strategic design wins in the fiscal year including five competitive winbacks.
Cerence maintained a leadership position with Cerence penetration staying strong at 54% of global auto production.
Revenue by Segment
Forward Guidance
For the fiscal quarter ending December 31, 2023, revenue is expected to be in the range of $128 million to $132 million. GAAP Net Income is expected to be in the range of $19 million to $23 million. Adjusted EBITDA is expected to be in the range of approximately $58 million to $62 million. For the full fiscal year ending September 30, 2024, the company expects revenue to be in the range of $355 million to $375 million. GAAP Net Income is expected to be in the range of $20 million to $35 million. Adjusted EBITDA is expected to be in the range of approximately $94 million to $109 million.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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