secwatch.observer — SEC 8-K summary
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Issuer:     Cerence Inc. (CRNC)
CIK:        0001768267
Form:       8-K
Filed at:   2022-02-07T23:59:59+00:00
Accession:  0001564590-22-004009
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1768267/000156459022004009/0001564590-22-004009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1768267/000156459022004009/crnc-8k_20220207.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-004009

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer