Cerence Inc - CRNC STOCK NEWS

Cerence Inc. (NASDAQ: CRNC) has launched Cerence Sing, a voice-controlled karaoke experience designed for drivers, powered by Stingray's extensive song catalogue. VinFast is the first customer to integrate this feature into its VF 8 and VF 9 models. The offering enhances driving enjoyment while prioritizing safety, as it operates fully via voice commands in driver mode. Cerence Sing includes advanced features like real-time performance feedback and customization options for automotive manufacturers.

Cerence Inc. (NASDAQ: CRNC) has announced Volkswagen's selection of its AI technology to power the next-gen infotainment system in the Golf 8 GTI. This system, launching in early 2022, boasts significant enhancements in speed and accuracy, enabling intuitive voice interactions. By employing Cerence Drive 2.0, the interface supports natural communication and learns from driver preferences over time. This partnership highlights both companies' commitment to innovation in user experience and safety in connected mobility.

Cerence (NASDAQ: CRNC) announced its participation in three upcoming investor conferences. The events include:

• 2nd Annual Cowen Mobility Disruption Conference on March 2, 2022, at 2:20 PM ET
• Berenberg Industrial Technologies Conference on March 3, 2022, at 1:00 PM ET
• Raymond James Institutional Investors Conference on March 7, 2022, at 2:15 PM ET

Each presentation will feature CEO Stefan Ortmanns in a fireside chat format. Interested parties can access the webcasts on Cerence's website, with replays available afterward.

Cerence Inc. (NASDAQ: CRNC) has partnered with Mercedes-Benz Korea to enhance driver experience by integrating KT's GiGA Genie voice assistant into select Mercedes-Benz models through MBUX. This collaboration allows drivers to access a variety of services, streamlining tasks via voice commands. KT, Korea's largest telecom operator, first launched GiGA Genie in 2017, and this partnership extends its functionality to automotive settings, showcasing Cerence's commitment to improving digital integration in vehicles.

Cerence Inc. (NASDAQ: CRNC) has partnered with Qianjiang Motorcycle to integrate its Cerence Ride voice and AI platform into their motorcycles. This initiative will enhance rider experience by providing hands-free access to navigation, communication, and entertainment. Using Cerence's advanced speech recognition and proactive AI, the platform aims to improve safety and convenience for riders. The collaboration signifies a strategic move for Cerence to expand in the high-end motorcycle segment, leveraging Qianjiang's position as a leading two-wheeler manufacturer in China.

Cerence Inc. (NASDAQ: CRNC) has announced a partnership with Pioneer Corporation to integrate advanced conversational speech recognition technology into Pioneer’s new NP1 device, set to launch in Japan in March 2022. This collaboration aims to enhance in-car experiences by allowing drivers to navigate and interact using voice commands. The NP1 features an integrated camera and speaker system, providing real-time lane-by-lane directions. This partnership positions both companies to capitalize on recurring revenue opportunities in the growing digital mobility market.

Cerence (NASDAQ: CRNC) reported fiscal Q1 2022 results, achieving GAAP revenue of $94.4 million, a slight increase from $93.6 million in Q1 2021. The GAAP gross margin rose to 74.3%, with GAAP net income of $19.0 million ($0.47 per share). Despite strong bookings and initial revenue from new fitness products, Cerence has lowered its FY2022 guidance due to supply chain challenges and delays in new product revenue recognition. The revised revenue guidance is now $365-$385 million, a 9% decrease from prior estimates.

Cerence Inc. (NASDAQ: CRNC) announced the retirement of CFO Mark Gallenberger, effective March 11, 2022. He will remain in an advisory capacity until November 2022 to facilitate a smooth transition. Mitch Cohen has been appointed as interim CFO, bringing over 30 years of experience in finance and operations. Cerence is actively seeking a new CFO with the help of Heidrick & Struggles. Gallenberger's leadership was pivotal in Cerence's early public company journey, while Cohen's extensive background is expected to benefit the finance organization during the transition.

Cerence Inc. (NASDAQ: CRNC) is set to release its first quarter financial results for the period ending December 31, 2021, on February 7, 2022, at 7:30 a.m. EST. A conference call and webcast will follow at 8:30 a.m. EST for analysts and investors to discuss the results. Investors can join via dial-in or access the webcast on Cerence's investor relations page. The replay of the call will be available until February 14, 2022. Cerence is a leader in AI for mobility, with over 400 million vehicles equipped with its technology.