Cerence Q1 FY2024 beats guidance; revenue $138.3M, GAAP net income $23.9M

Cerence Inc.

2024-Q1 EPS reported $0.53 revenue$138,335,000

GAAP revenue $138.3M, up 65% YoY, including $77.7M non-cash Toyota Legacy acceleration.
GAAP net income $23.9M ($0.53 diluted EPS) vs loss of $2.2M ($0.05 loss) a year ago.
Non-GAAP net income $54.3M ($1.12 diluted EPS) vs $14.2M ($0.36) YoY.
Adjusted EBITDA $70.4M (50.9% margin) vs $19.7M (23.5%) YoY.
AI partnerships with NVIDIA and Microsoft; new wins at Japanese and North American OEMs.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Cerence Inc. reported the quarter ended December 31, 2023 results: revenue $138.3, net income $23.9, EPS $0.53.

Period: the quarter ended December 31, 2023
Revenue: $138.3
Net income: $23.9
EPS: $0.53
Result: reported results

Exact text from the filing

year 2024 results for the quarter ended December 31, 2023. Results Summary (1,2) (in millions, except per share data) Three Months Ended December 31, 2023 2022 GAAP revenue $ 138.3 $ 83.7 GAAP gross margin 81.0 % 68.7 % Non-GAAP gross margin 81.5 % 70.4 % GAAP operating margin 42.3 % -2.4 % Non-GAAP operating margin 49.4 % 20.5 % GAAP net income (loss) $

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Source: SEC EDGAR

accession 0000950170-24-011536

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