secwatch.observer — SEC 8-K summary
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Issuer:     Cerence Inc. (CRNC)
CIK:        0001768267
Form:       8-K
Filed at:   2022-05-06T23:59:59+00:00
Accession:  0001193125-22-143053
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cerence preliminary Q2 revenue $85.5-$86.5M, GAAP EPS loss ($0.02)-($0.01); appoints new CFO and director
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- Preliminary Q2 revenue $85.5-$86.5M (guidance $82-86M); GAAP EPS loss ($0.02)-($0.01) vs guided profit $0.03-$0.06.
- Non-GAAP EPS $0.32-$0.33 within guidance $0.31-$0.38; Adj. EBITDA $23.4-$24.5M in range; full FY2022 guidance reaffirmed.
- CFO Marc Montagner resigned; board member Tom Beaudoin appointed EVP & CFO effective May 5; salary $475k, equity target $2.5M.
- Doug Davis appointed to board (expanded to 8); former Intel SVP Automated Driving Group; received initial equity award ~$125k.
- H1 fiscal 2022 bookings of $448.1M reported.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1768267/000119312522143053/0001193125-22-143053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1768267/000119312522143053/d337541d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-143053

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