Cerence Q3 GAAP net loss $313.5M; revenue $70.5M; restructuring with $18-22M charges

Cerence Inc.

2024-Q3 EPS reported -$13.66 revenue$276,699,000

GAAP revenue $70.5M (+14% YoY); GAAP net loss $313.5M ($7.50 diluted loss) vs $16.5M loss a year ago.
Non-GAAP net income $8.4M ($0.19 diluted EPS) vs loss of $1.7M; Adjusted EBITDA $12.5M (17.7% margin).
Restructuring plan: estimated cash charges $18-22M, primarily severance; targeting $35-40M annual cost savings in FY25.
Five generative AI customer programs released to production in Q3.
Positive cash flow from operations of $12.9M in the quarter.

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