earnings
confidence high
sentiment negative
materiality 0.70
Cerence Q3 revenue $61.7M (-31% YoY); GAAP net loss narrows to $16.5M
Cerence Inc.
2023-Q3 EPS reported
-$1.11
revenue$213,711,000
- Revenue $61.7M vs $89.0M YoY; GAAP gross margin 66.0% down from 72.8%.
- GAAP net loss $16.5M ($0.41 per share) vs $99.3M loss YoY; non-GAAP net loss $1.7M.
- Adjusted EBITDA $2.8M (4.5% margin) vs $28.5M (32.0%) YoY, reflecting lower revenue.
- Convertible note refinancing yields ~$8M annual interest expense savings.
- Strategic wins: Japanese OEM connected services, Korean OEM ADAS, two-wheeler design win.