Cerence Q1 revenue $94.4M, GAAP EPS $0.47, non-GAAP EPS $0.59; lowers FY2022 guidance

Cerence Inc.

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

GAAP revenue $94.4M (up ~1% YoY); GAAP net income $19.0M vs $20.9M; GAAP diluted EPS $0.47 vs $0.53.
Non-GAAP net income $25.3M vs $23.6M; non-GAAP diluted EPS $0.59 vs $0.57; adjusted EBITDA $36.9M vs $39.0M.
Recorded second largest bookings quarter; won China two-wheeler customer; initial fitness product revenue.
Company lowered full-year fiscal 2022 guidance; no details provided in release.
Non-GAAP operating margin 36.8% vs 38.9%; GAAP operating margin improved to 24.3% from 18.7%.

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