---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-056266"
form_type: "8-K"
ticker: "CRNC"
cik: "0001768267"
company_name: "Cerence Inc."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T06:38:39.634425+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Cerence Q2 revenue beat goodwill $252M charge; lowers FY24 guidance, withdraws multi-year plan

## Summary
- GAAP revenue $67.8M (above high end of guidance), vs $68.4M YoY; GAAP net loss $278M ($6.66/sh) due to ~$252M goodwill impairment.
- Non-GAAP net loss $3.6M ($0.09/sh) vs $1.7M loss YoY; adjusted EBITDA -$0.3M.
- H1 FY24 revenue $206.2M (incl. $86.6M Toyota legacy) vs $152.1M; non-GAAP net income $50.7M ($1.07/sh).
- Company lowering FY24 revenue and profit guidance; withdrawing multi-year financial outlook.
- Secured six generative AI design wins; early validation of next-gen platform.

## SEC filing metadata
- accession: 0000950170-24-056266
- form_type: 8-K
- ticker: CRNC
- cik: 0001768267
- company_name: Cerence Inc.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1768267/000095017024056266/0000950170-24-056266-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1768267/000095017024056266/crnc-20240509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-056266
- JSON: https://secwatch.observer/filing/0000950170-24-056266.json
- Plain text: https://secwatch.observer/filing/0000950170-24-056266.txt

## Key facts
- Earnings Releases
  Cerence Inc. reported Second quarter fiscal year 2024 ended March 31, 2024 results: revenue $67.8 million, net income GAAP net loss of $(278.0) million, EPS $(6.66) GAAP net loss per share - diluted. Guidance lowered.
  - Period: Second quarter fiscal year 2024 ended March 31, 2024
  - Revenue: $67.8 million
  - Net income: GAAP net loss of $(278.0) million
  - EPS: $(6.66) GAAP net loss per share - diluted
  - Guidance: lowered
  - Result: reported results
  source text: Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today reported its second quarter fiscal year 2024 results for the quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1768267/000095017024056266/0000950170-24-056266-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.