Cerence Inc Stock Price, News & Analysis

Cerence Inc. (NASDAQ: CRNC) has launched the Cerence Exterior Vehicle Communication, a new AI-driven platform that enhances interaction between drivers and their cars from outside. This innovation combines various technologies, including speech recognition and voice biometrics, to assist users in tasks like activating lights or parking vehicles. As automobiles become more autonomous, this offering is expected to improve user trust and experiences with shared and driverless vehicles. Cerence aims to transform mobility with intuitive human-vehicle communication.

Cerence Inc. (NASDAQ: CRNC) announced its Cerence Assistant is now supported on the NVIDIA DRIVE platform, enhancing in-car AI experiences. This integration aims to deliver next-generation cockpit solutions, utilizing features like gesture and gaze detection for improved driver interaction. The assistant provides real-time notifications, such as low fuel alerts, and supports speech recognition in multiple languages. The collaboration facilitates automakers in deploying advanced AI-powered features to enhance safety and productivity, marking a significant milestone in connected mobility.

Cerence Inc. (NASDAQ: CRNC) announces a strategic partnership with CFMOTO to enhance its two-wheelers and ATVs with Cerence Ride, their conversational AI platform. This collaboration aims to improve rider safety and experience through voice-powered navigation and controls, minimizing distractions. The technology will include hybrid embedded and cloud speech recognition, supporting both English and Chinese. This partnership represents a critical step in the evolving landscape of connected mobility for two-wheelers, addressing the increasing demand for safer riding experiences.

Cerence Inc. (NASDAQ: CRNC) announced it will present at the Goldman Sachs Communacopia + Technology Conference on September 14, 2022, at 7:30 p.m. Eastern Time. The presentation will be in a fireside chat format featuring Tom Beaudoin, Cerence's EVP and CFO. The event will be webcast live, and the link will be available in the 'Events' tab under the 'Investors' section of Cerence's website. Additionally, the replay will be accessible on the company website following the event.

Cerence Inc. (NASDAQ: CRNC) has partnered with BMW Group to enhance the digital cabin experience in the new BMW 7 Series and BMW i7 with advanced AI and voice innovations. This partnership aims to improve BMW's Intelligent Personal Assistant (IPA) with enhanced natural language processing, allowing for seamless voice commands such as controlling the sunroof or using Apple’s Siri without physical interaction. Other features include personalized prompts and voice-controlled WeChat capabilities for users in China. These advancements highlight Cerence’s commitment to revolutionizing in-car experiences.

Cerence Inc. (NASDAQ: CRNC), a leader in AI for mobility, is set to present at the 2nd Annual Evercore ISI Technology Conference on September 7, 2022, at 8:00 a.m. ET. The session will feature a fireside chat with Tom Beaudoin, EVP and CFO of Cerence. Investors can access the live event via the company's website under the 'Investors' section. A replay will also be available post-event. With over 20 years of experience and 450 million cars equipped with its technology, Cerence is advancing the future of connected mobility.

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.