Sector: Technology | Industry: Software |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 25 Mall Road, Suite 416 BURLINGTON MA 01803 |
Tel: | 1-617-9874799 |
Website: | https://www.cerence.com |
IR: | See website |
Key People | ||
Stefan Ortmanns President, Chief Executive Officer, Director | Daniel D. Tempesta Chief Financial Officer | Iqbal Arshad Chief Technology Officer |
Business Overview |
Cerence Inc. is a provider of artificial intelligence (AI)-powered assistants for connected and autonomous vehicles. The Company is engaged in selling software licenses and cloud-connected services. Its software platform is used to build virtual assistants that can communicate, find information and take action across an expanding variety of categories. Its software platform has a hybrid architecture combining edge software components with cloud-connected components. Its Edge software components are installed on a vehicle's head unit and can operate without access to external networks and information. Its Cloud-connected components are comprised of certain speech and natural language understanding related technologies, AI-enabled personalization and context-based response frameworks, and a content integration platform. It delivers its solutions on a white-label basis, enabling its customers to deliver customized virtual assistants with branded personalities. |
Financial Overview |
For the three months ended 31 December 2023, Cerence Inc revenues increased 65% to $138.3M. Net income totaled $23.9M vs. loss of $2.2M. Revenues reflect Connected services segment increase from $18.4M to $96.8M, Professional services segment increase of 4% to $20.7M, United States segment increase from $21.4M to $99.5M, Other Europe & Middle East & Africa segment increase of 30% to $4.8M. Net Income reflects Restructuring and other costs. |
Employees: | 1,700 as of Sep 30, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $600.94M as of Dec 31, 2023 |
Annual revenue (TTM): | $349.15M as of Dec 31, 2023 |
EBITDA (TTM): | $55.51M as of Dec 31, 2023 |
Net annual income (TTM): | -$30.24M as of Dec 31, 2023 |
Free cash flow (TTM): | $1.43M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $169.60M as of Dec 31, 2023 |
Shares outstanding: | 41,674,637 as of Jan 31, 2024 |
Index Membership: | S&P 600 Small Cap |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |