Cerence Inc Stock Price, News & Analysis

Cerence (NASDAQ: CRNC) announced its inclusion in the S&P MidCap 400, effective July 7, 2021. CEO Sanjay Dhawan expressed enthusiasm for this recognition, highlighting the company's commitment to shareholder value since its public debut in October 2019. This milestone underscores Cerence's growth trajectory and market success, signifying a strong position in the mobility industry.

Cerence Inc. (NASDAQ: CRNC) announced that its CIO, Bridget Collins, was awarded the 2021 BostonCIO of the Year in the Corporate category. This recognition comes as Collins led the transformation of IT systems during the company's spin-off from a multi-divisional parent. Under her leadership, Cerence has achieved significant growth, streamlined IT processes, and established a robust architecture to support innovation in connected mobility. The ORBIE Awards honor excellence in technology leadership based on a peer review process.

Cerence Inc. (CRNC) and Sirius XM Holdings Inc. (SIRI) have announced a partnership to enhance in-vehicle audio experiences using Cerence’s AI technology. This collaboration enables drivers to access SiriusXM programming via voice commands in vehicles equipped with SiriusXM satellite radios and the new 360L radios. The integration will improve user experiences by offering personalized content and simplified access to a vast library of channels and podcasts. The offering will be available in North America for automotive models starting production next year.

Cerence (NASDAQ: CRNC) and Pioneer Corporation have announced a strategic partnership to develop AI-powered mobility products. This collaboration aims to enhance in-car experiences by integrating Pioneer’s hardware capabilities and Cerence’s conversational AI technology. Both companies plan to create scalable solutions that improve driver and passenger comfort. This initiative reflects the growing demand for advanced in-car technology, especially following the impact of the COVID-19 pandemic. Further details on the product rollout will be available later.

Cerence Inc. (NASDAQ: CRNC) announced that SAIC-GM-Wuling has selected them to enhance the WISE ecosystem and upgrade WIND for the Wuling Almaz RS. This new launch, which features advanced Indonesian-language voice control, represents a significant milestone for both Cerence and Wuling in the Indonesian automotive market.

The integration includes conversational AI and natural language understanding, allowing users to control various car functions and access local content effortlessly. With over 1,000 features developed in just nine months, Cerence is committed to delivering user-centric experiences in new global markets.

Cerence Inc. (NASDAQ: CRNC) announced its participation in the 5th Annual Needham Virtual Automotive Tech Conference on June 8, 2021, at 9:30 a.m. ET. CEO Sanjay Dhawan and CFO Mark Gallenberger will lead a fireside chat during the event. The webcast will be accessible via the company's website in the 'Events & Resources' section. Additionally, a replay of the webcast will be available after the presentation.

Cerence is recognized for its innovation in creating interactive mobility experiences, having shipped over 350 million vehicles with its technology.

Cerence Inc. (NASDAQ: CRNC) has partnered with CarPay-Diem to integrate its AI-powered fuel payment platform into Cerence Pay, enhancing the in-car payment experience in Europe.

This collaboration enables drivers to pay for fuel using voice commands, ensuring secure transactions while minimizing smartphone reliance. Currently operational in Benelux and France, CarPay-Diem plans to expand across 10 European countries by 2022. This partnership not only optimizes convenience for drivers but also opens new revenue streams for OEMs and fuel stations, promoting personalized offers and loyalty rewards.

Cerence (NASDAQ: CRNC) and tooz technologies, a joint venture of ZEISS and Deutsche Telekom, have announced a collaboration to integrate conversational AI with smart glasses to enhance the two-wheeler rider experience. The partnership aims to improve safety and intelligence in mobility through the use of the Cerence 2-Wheeler Mobility Platform, which allows riders to stay informed while keeping their focus on the road. The tooz Smart Glasses will display essential information like navigation and traffic updates directly in the rider's field of view, aiming for a safer and more enjoyable riding experience.

Cerence reported a record revenue of $98.7M for Q2 FY2021, marking a 14% increase year-over-year. The company exceeded guidance in all financial metrics, achieving a GAAP net income of $11.2M and an Adjusted EBITDA of $39.3M. Full-year guidance has been raised, anticipating revenue between $380M and $390M, reflecting a 15% to 18% growth compared to the previous year. Strong bookings in new Applications and strategic wins in the two-wheeler market were also highlighted, reinforcing Cerence's competitive position and innovation.