Cerence Q1 revenue $94.4M, adj. EBITDA $36.9M; lowers FY2022 guide; CFO retiring

Cerence Inc.

2022-Q1 EPS reported $0.47 revenue$94,426,000

GAAP revenue $94.4M (+0.9% YoY); GAAP net income $19.0M ($0.47 EPS) vs $20.9M ($0.53) prior year.
Non-GAAP net income $25.3M ($0.59 EPS) vs $23.6M ($0.57); adjusted EBITDA $36.9M (39.1% margin).
Recorded second largest bookings quarter; initial revenue from fitness products; won new China two-wheeler customer.
Company lowers FY2022 guidance (full details not provided in release).
CFO Mark Gallenberger to retire March 11, 2022; will remain as advisor through Nov 15, 2022; search for successor commenced.

item 2.02 item 5.02 item 9.01

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Departed

Mark Gallenberger

Chief Financial Officer

CRNC · Cerence Inc.

Effective: 2022-03-11
Filed: February 7, 2022, 6:59 PM ET

On February 7, 2022, the Company announced that Mark Gallenberger, Chief Financial Officer of the Company, intends to retire from the Company effective March 11, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Mark Gallenberger departed as Chief Financial Officer at Cerence Inc..

Action: retire
Role: Chief Financial Officer

Exact text from the filing

On February 7, 2022, the Company announced that Mark Gallenberger, Chief Financial Officer of the Company, intends to retire from the Company effective March 11, 2022.

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Cerence Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-029093

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