Cerence Inc Stock Price, News & Analysis

Cerence Inc. (NASDAQ: CRNC) announced its partnership with Toyota Motor North America to integrate Cerence Browse into Toyota and Lexus vehicles. This AI-powered cloud service allows passengers to access real-time information and general knowledge while on the go. Users can ask diverse questions ranging from stock information to news events, enhancing the in-car experience beyond traditional navigation. The 2022 Lexus NX and Toyota Tundra models will be the first to utilize this technology, which aims to increase user engagement and satisfaction.

Cerence Inc. (NASDAQ: CRNC) announced the appointment of Dr. Stefan Ortmanns as its new president and CEO, effective immediately. Ortmanns, who has been with the company for over 20 years, previously led the Core Products business and is credited with generating more than 80% of Cerence's revenue. His leadership aims to enhance operational efficiency and foster innovation within the company. The transition follows the immediate resignation of Sanjay Dhawan, who led Cerence for two years. The company expects its first quarter fiscal 2022 results to align with prior guidance.

Cerence Inc. (NASDAQ: CRNC) has partnered with Micware, Co., Ltd. to enhance voice-powered assistant experiences for two-wheeler vehicles in Japan. Utilizing Cerence's two-wheeler mobility platform, the collaboration aims to integrate voice commands through helmet systems and digital speedometers. With the growing demand for e-bikes, this partnership seeks to offer safety and comfort through intelligent voice interfaces. The global connected two-wheeler market is expected to expand, providing a unique opportunity for both companies to innovate in this sector.

Cerence reported strong results for FY21, with revenue reaching $387.2M, a 17% increase compared to the previous year. The company achieved bookings of $590M, increasing its backlog to approximately $2B. Notable achievements included securing VinFast as a major customer and winning an Automotive News PACE Award for Cerence Pay. The GAAP operating margin was 15.7%, with net income of $45.9M. Despite industry challenges, Cerence expects continued growth, forecasting FY22 revenue between $400M and $425M, reflecting a 7% increase.

Cerence Inc. (NASDAQ: CRNC) has been awarded Software Supplier of the Year at the Informa Tech Automotive Awards for its outstanding performance in 2020. This recognition highlights Cerence's innovative AI-powered products and their successful integration into vehicles by leading automakers. The award reflects Cerence’s commitment to innovation and its impact on the automotive industry. CEO Sanjay Dhawan emphasized the company’s leadership in voice recognition and the development of user experiences that will shape future in-car technologies.

Cerence (NASDAQ: CRNC) will announce its fourth quarter and full fiscal year 2021 financial results on November 22, 2021 at 7:00 a.m. EST. The announcement will be followed by a live conference call at 10:00 a.m. EST, where investors and analysts can participate by dialing in. The conference will be accessible via webcast on the company's website. A teleconference replay will be available until November 29, 2021. Cerence is known for its innovations in mobility, having shipped nearly 400 million cars equipped with its technology.

Cerence Inc. (NASDAQ: CRNC) announced its participation in the Gabelli 45th Annual Automotive Symposium on November 2, 2021, at 5:00 PM ET. The event will feature a fireside chat with CEO Sanjay Dhawan and CFO Mark Gallenberger. Investors can access the webcast through the Company’s website under the 'Events' section. A replay of the presentation will also be available on the site. Cerence is a leader in creating advanced mobility solutions, having shipped nearly 400 million cars equipped with its technology.