secwatch.observer — SEC 8-K summary
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Issuer:     Cerence Inc. (CRNC)
CIK:        0001768267
Form:       8-K
Filed at:   2023-11-27T23:59:59+00:00
Accession:  0000950170-23-066033
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cerence FY2023 revenue $294.5M, down 10% YoY; GAAP net loss narrows to $56.3M
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- FY2023 GAAP revenue $294.5M (down from $327.9M); GAAP net loss $56.3M vs loss $310.8M prior year.
- Q4 revenue $80.8M (up from $58.1M); Q4 GAAP net loss $11.6M vs loss $230.1M.
- Non-GAAP net income FY $14.6M ($0.36 diluted EPS) vs $50.4M ($1.24); non-GAAP op margin 10.8%.
- Q4 non-GAAP operating margin 17.8% vs -9.8% a year ago; adjusted EBITDA margin 20.5%.
- 14 strategic design wins in FY including 5 competitive winbacks; Cerence penetration at 54% of global auto production.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1768267/000095017023066033/0000950170-23-066033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1768267/000095017023066033/crnc-20231127.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-066033

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