Cerence Inc (OQ:CRNC)

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
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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

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