From GlobeNewswire: 2024-11-21 07:00:00

Cerence Inc. reported Q4 revenue exceeding guidance with positive cash flow of $6.1 million. Transformation plan is on track for net annualized cost savings of $35-$40 million. Initial FY25 revenue guidance is $236 to $247 million with a record 22 platform launches in FY24. CEO Brian Krzanich is optimistic about future growth and efficiency improvements.

Key performance indicators show 52% of worldwide auto production using Cerence technology, a 16% increase in connected cars shipped, and a 31% increase in adjusted total billings year over year. Guidance for Q1 2025 includes revenue of $47-$50 million with GAAP net loss of ($26)-($23) million. Full year FY25 revenue is expected at $236-$247 million.

Non-GAAP financial measures exclude stock-based compensation, amortization of intangible assets, and other costs. Adjusted EBITDA for Q1 2025 is expected to be ($9)-($6) million. Forward-looking statements highlight the company’s future performance, profitability, and growth opportunities. The company will host a live conference call and webcast to discuss results today at 8:30 a.m. Eastern Time/5:30 a.m. Pacific Time.

Cerence provides unique experiences for the mobility world, partnering with leading automakers. The company’s track record includes over 20 years of knowledge and 500 million cars shipped with Cerence technology. Reconciliations of GAAP financial measures to non-GAAP measures are provided for transparency. Additional details on guidance, performance indicators, and earnings can be found on Cerence’s website.



Read more at GlobeNewswire:: Cerence Announces Fourth Quarter and Fiscal Year 2024