Cerence Inc Stock Price, News & Analysis

Cerence Inc. (NASDAQ: CRNC) has launched Cerence Link, a new AI-driven solution designed to enhance vehicle connectivity and safety for both modern and older cars. This offering, which has already been adopted by a major automaker in India, bridges the technological gap between connected and non-connected vehicles. Cerence Link provides features such as driver monitoring, emergency alerts, and vehicle diagnostics. With over 40 million cars produced without connectivity yearly, Cerence aims to improve safety and convenience for a broader range of drivers.

Cerence Inc. (NASDAQ: CRNC) partners with Microsoft to integrate communication and productivity tools, including Microsoft Teams, into Cerence’s AI-powered automotive assistants. This collaboration addresses the increasing need for effective remote work tools as companies adopt a work-from-anywhere model. By utilizing Azure Communication Services, drivers can enjoy a voice-first experience to manage meetings and notifications hands-free, enhancing productivity while driving. The solution supports automotive OEMs in implementing these features seamlessly, improving user experience and safety on the road.

Cerence, specializing in AI for automotive applications, reported Q3 fiscal 2022 results with GAAP revenue at $89 million, down from $96.8 million year-over-year. The GAAP gross margin decreased to 72.8%, while GAAP net loss reached $99.3 million. Despite challenges, the company achieved record professional services revenue and maintained strong productivity. Looking ahead, Cerence will not sign fixed contracts in Q4 to enhance long-term revenue predictability, with a projected revenue range of $52 million to $58 million for Q4 and $322 million to $328 million for the full fiscal year.

Cerence Inc. (NASDAQ: CRNC) is set to release its third quarter financial results for the period ending June 30, 2022, on August 9, 2022, at 7:00 a.m. ET. A live conference call will follow at 8:30 a.m. ET. Investors and analysts interested in the results are encouraged to register for the call. The company, a leader in creating mobility experiences, boasts over 450 million cars equipped with its technology.

Cerence (NASDAQ: CRNC) and CerebrumX have announced a strategic collaboration to develop an AI-powered connected vehicle data platform on AWS. This innovative solution aims to enhance driving experiences by leveraging real-time data from millions of connected vehicles. Supported by multiple OEMs, including four major North American automakers, the platform promises to create new revenue streams and improve in-vehicle services such as fleet management and usage-based insurance. This collaboration underscores the growing importance of connected vehicle data in driving safety and sustainability.

Cerence Inc. (NASDAQ: CRNC) has joined the MIH Consortium, aiming to enhance in-vehicle experiences for electric and autonomous vehicles. The Consortium, with over 2,300 members, focuses on creating an open EV ecosystem that fosters innovation and collaboration within the mobility industry. Cerence's expertise in conversational AI will contribute to developing key technologies and standards in the sector. CEO Stefan Ortmanns emphasized their commitment to improving driver and passenger safety, productivity, and comfort.

Cerence Inc. (NASDAQ: CRNC) has partnered with Lynk & Co to deliver AI-driven natural language processing and voice recognition for a seamless in-car experience. This collaboration will enhance vehicle functionalities like navigation and music control through voice commands, using the wake word 'Hey Frank.' Cerence's technologies will be integrated across Lynk & Co's vehicles, supporting various languages. The partnership highlights Cerence's commitment to advancing conversational AI in the automotive sector as Lynk & Co expands its presence in Europe.

Cerence Inc. (NASDAQ: CRNC) has been awarded the Informa Tech Automotive Award for its innovative Cerence Co-Pilot in-car assistant, recognized as the Cockpit of the Future Product of the Year.

This award highlights the advanced technology and integration of the Co-Pilot system, which enhances driver safety and comfort through proactive AI and rich interactivity. The announcement was made at AutoTech:Detroit on June 7, 2022, marking a significant achievement in automotive technology and customer satisfaction.

Faraday Future Intelligent Electric (NASDAQ: FFIE) has partnered with Cerence Inc. (NASDAQ: CRNC) to integrate advanced text-to-speech (TTS) technology into its upcoming FF 91 luxury electric vehicle, set for production in Q3 2022. This collaboration aims to enhance the in-car voice assistant's natural communication abilities through Cerence’s TTS and Speech Signal Enhancement (SSE) technologies. The FF 91's voice assistant will provide real-time information and facilitate better interactions, improving driver safety and comfort.