secwatch.observer — SEC 8-K summary
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Issuer:     Cerence Inc. (CRNC)
CIK:        0001768267
Form:       8-K
Filed at:   2024-02-06T23:59:59+00:00
Accession:  0000950170-24-011536
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1768267/000095017024011536/0000950170-24-011536-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1768267/000095017024011536/crnc-20240206.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-011536

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