Cerence Q2 revenue $68.4M (-21% YoY); GAAP net loss $26.1M

Cerence Inc.

2023-Q2 EPS reported -$0.70 revenue$152,051,000

Revenue $68.4M vs $86.3M YoY; GAAP net loss per share ($0.65) vs ($0.01).
Adjusted EBITDA $2.5M (3.6% margin) vs $24.0M (27.9%) YoY.
First-half bookings $263M; management expects strong H2 pipeline.
Won back a connected-services contract for a global luxury OEM in North America.
Launched generative AI-enhanced Car Knowledge product.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cerence Inc. reported quarter ended March 31, 2023 results: revenue $ 68.4, net income $ (26.1 ), EPS $ (0.65 ) per share.

Period: quarter ended March 31, 2023
Revenue: $ 68.4
Net income: $ (26.1 )
EPS: $ (0.65 ) per share
Result: reported results

Exact text from the filing

quarter ended March 31, 2023. Results Summary (1) (in millions, except per share data) Three Months Ended Six Months Ended March 31, March 31, 2023 2022 2023 2022 GAAP Revenue $ 68.4 $ 86.3 $ 152.1 $ 180.7 GAAP Gross Margin 63.4 % 71.8 % 66.3 % 73.1 % Non-GAAP Gross Margin 65.3 % 74.7 % 68.1 % 76.2 % GAAP Operating Margin -30.1 % 7.3 % -14.9 % 16.2 % Non-GAAP

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Source: SEC EDGAR

accession 0000950170-23-019126

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