secwatch.observer — SEC 8-K summary
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Issuer:     Cerence Inc. (CRNC)
CIK:        0001768267
Form:       8-K
Filed at:   2023-02-08T23:59:59+00:00
Accession:  0000950170-23-002047
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cerence Q1 revenue $83.7M, down 11% YoY; GAAP net loss $2.2M vs prior-year gain
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- GAAP revenue $83.7M (down 11% YoY from $94.4M); gross margin 68.7% vs 74.3%.
- GAAP net loss $2.2M ($0.05 diluted loss) vs net income $19.0M ($0.47) a year ago.
- Non-GAAP net income $14.2M ($0.36 diluted EPS) vs $25.3M ($0.59); operating margin 20.5% vs 36.8%.
- Cerence Co-Pilot added 4 new customers (2 win-backs); Cerence Ride won 3 design awards.
- Investor Day outlined 'Destination Next' long-term growth strategy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1768267/000095017023002047/0000950170-23-002047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1768267/000095017023002047/crnc-20230208.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-002047

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer