Welcome to our dedicated page for Cerence news (Ticker: CRNC), a resource for investors and traders seeking the latest updates and insights on Cerence stock.
Cerence Inc. develops conversational AI software for automotive, transportation and related industrial use cases. News about CRNC commonly covers vehicle user-experience platforms such as Cerence xUI, voice AI, generative AI and large language model features for in-car assistants, along with customer programs involving automakers, transportation OEMs, technology companies and partner-led industrial deployments.
Recurring updates also include quarterly results, revenue guidance, cash flow and adjusted EBITDA commentary, software licensing and cloud-connected service activity, patent and intellectual-property actions, and product adoption across connected vehicles and embedded voice applications.
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.
Cerence Inc. (NASDAQ: CRNC) announced that SAIC Mobility Robotaxi, part of SAIC Motor, selected Cerence to provide mobility assistant technology for its L4 self-driving robotaxi platform, marking a significant milestone in autonomous transportation in China. The Cerence Mobility Platform facilitates intuitive user interaction via voice, gesture, and gaze, enhancing passenger safety and enjoyment. This partnership underscores Cerence's role in advancing automobile innovations, a critical factor as robotaxis become more prevalent in urban environments.
Cerence Inc. (NASDAQ: CRNC) reported a strong performance for Q2 FY22, generating revenue of $86.3 million, despite a decrease from $98.7 million in Q2 FY21. First-half bookings surged 53% to $448 million, with significant OEM business growth in North America and the adoption of its technology by Chinese EV makers. GAAP net loss was $0.5 million, while non-GAAP net income reached $13.6 million. The company maintains its full-year guidance, forecasting Q3 revenue between $90 million and $94 million. CEO Stefan Ortmanns highlighted a robust pipeline and opportunities for long-term growth.
Cerence Inc. (NASDAQ: CRNC) has appointed Tom Beaudoin as Executive Vice President and Chief Financial Officer, effective immediately. Beaudoin, with nearly 40 years of industry experience, replaces Marc Montagner, who resigned without disagreement on any accounting matters. The company also welcomed Doug Davis, former Intel executive, to its board of directors, expanding it to eight members. Cerence provided preliminary financial results for Q2 FY 2022, anticipating revenue between $85.5 million and $86.5 million, alongside affirmed fiscal year guidance.
Cerence (NASDAQ: CRNC) is set to announce its second quarter financial results for the period ending March 31, 2022, on May 10, 2022. The announcement will be made at 7:00 a.m. EST, followed by a live conference call at 8:30 a.m. EST. Investors can participate by dialing in or accessing the webcast via Cerence's website. The replay of the teleconference will be available until May 17, 2022. Cerence is focused on innovative mobility solutions, having shipped over 400 million cars equipped with its technology.
Cerence Inc. (NASDAQ: CRNC) has partnered with Hongqi Auto, a luxury automotive brand from FAW Group, to integrate in-car conversational AI and infotainment technology in the new E-HS9 model as part of their international expansion strategy.
The collaboration aims to provide drivers with enhanced safety and productivity through an intuitive assistant capable of English and Norwegian language support. The technology utilizes advanced AI systems and cloud technologies, ensuring the in-car assistant is responsive and up-to-date, thereby enhancing the luxury driving experience.