From Nasdaq:

Cerence’s shares are on the rise at a 9.4% increase in the past 3 months, surpassing the computer and technology sector’s 7.5% rise. The company’s Q4 fiscal 2023 revenues reached approximately $81 million, and its global auto penetration remains at 54% over the last 12 months. Cerence is committed to AI-driven innovation to enhance user experiences and connected services.

Cerence recently partnered with Volkswagen to integrate Cerence Chat Pro into Volkswagen’s in-car assistant systems. This collaboration aims to capitalize Volkswagen’s in-car assistant potential and redefine in-car experiences by advancing conversational AI technology in the automotive industry. Cerence also secured 14 strategic wins in fiscal 2023, including partnerships with NVIDIA and Microsoft.

For first-quarter fiscal 2024, Cerence expects revenues between $128 million and $132 million, with non-GAAP earnings ranging from 84-92 cents per share. The company maintains a Zacks rank #2 (Buy) and is on track to boost top-line growth through expanding clientele. This indicates a 56.46% year-over-year growth in revenues and a stable consensus mark for earnings at 90 cents per share.



Read more: Cerence (CRNC) Strengthens Auto Tech With In-Car ChatGPT