Cerence Inc Stock Price, News & Analysis

Cerence Inc. (NASDAQ: CRNC) announced participation in several key automotive and voice technology events from April to May 2021. Cerence's VP of Product, Christophe Couvreur, will discuss edge computing applications at NVIDIA GTC 21 on April 12. The company’s CEO, Sanjay Dhawan, will be featured at the Project Voice Council and The Voice of the Car Summit. Other executives will present insights on conversational AI systems and multi-modal applications at various industry conferences. These engagements showcase Cerence's leadership in AI-driven mobility solutions.

Cerence Inc. (NASDAQ: CRNC) has launched its Cerence Drive conversational AI platform on Android Automotive OS, enabling automakers to create custom-branded voice assistants. This OS-agnostic offering allows manufacturers to maintain brand ownership, control over driver data, and facilitate interoperability with major tech ecosystems. The platform enhances driver experience through features like multi-intent support and noise cancellation. Cerence aims to provide a seamless integration of branded experiences while preserving data visibility for ongoing improvement and innovation.

Cerence Inc. (NASDAQ: CRNC) announced its participation in the Cowen Mobility Disruption Conference on March 11, 2021, at 11:50 a.m. ET. The presentation will involve a fireside chat featuring CEO Sanjay Dhawan and CFO Mark Gallenberger. Interested parties can access the live webcast through the 'Events & Resources' section on the Cerence website. A replay will also be available post-event. Cerence is a leader in AI for mobility, facilitating connections between consumers and their transportation modes.

Cerence Inc. (NASDAQ: CRNC) and CerebrumX have entered a strategic partnership to enhance the connected car experience and generate new revenue streams for OEMs. This collaboration integrates CerebrumX's Augmented Deep Learning Platform (ADLP) into Cerence Drive, facilitating real-time data insights. With over 50 million connected vehicles, the integration aims to unlock value through AI-powered applications such as predictive maintenance and usage-based insurance. This partnership positions Cerence to capitalize on the growing opportunities within the automotive data ecosystem.

Cerence announced a partnership with ECARX and Lotus Cars to enhance voice-powered technologies for Lotus drivers. This collaboration aims to improve safety and user experience through Cerence's advanced voice recognition and natural language understanding capabilities. Utilizing a hybrid embedded-cloud architecture, the technology promises seamless interaction. The partnership aligns with Lotus's transformation under Geely, with a new range of performance cars set to debut soon. This initiative reflects Cerence's commitment to innovating in the mobility sector.

Cerence Inc. (NASDAQ: CRNC) announced that CEO Sanjay Dhawan and BMW Group's Simon Euringer will speak at Voicebot.AI's event on March 3, 2021, focusing on voice AI's future in automotive contexts. Cerence leaders will participate in several industry events throughout March, showcasing innovations in AI and user experience (UX) for mobility. Highlights include presentations on new solutions for integrating digital lives into vehicles and discussions on conversational AI's impact on driving experiences. Cerence aims to enhance the interaction between consumers and mobility.

Cerence Inc. (NASDAQ: CRNC) will present at the Raymond James 42nd Annual Institutional Investors Conference on March 3, 2021, at 3:00 p.m. ET. The session will feature CEO Sanjay Dhawan and CFO Mark Gallenberger in a fireside chat format. Interested parties can access the webcast in the 'Events & Resources' section of Cerence's website. A replay will also be available following the event. Cerence is a leading innovator in mobility experiences, having shipped over 350 million cars equipped with its technology.

Cerence Inc. (NASDAQ: CRNC) has launched Cerence Tour Guide, an AI-powered application for automotive assistants that integrates professional travel content into vehicles. This innovation, developed in partnership with Viator and Road.Travel, enhances driving experiences by providing historical insights and booking capabilities while driving. The app features two modes: Planned Tour for organized trips and Explore Mode for dynamic suggestions along routes. This initiative aims to deepen connections between drivers and their automotive brands while creating new revenue streams for OEMs.

Cerence Inc. reported a 23% revenue growth in Q1 FY21, achieving record revenues of $95 million, exceeding all financial guidance. The company secured a major contract with a European OEM for next-generation infotainment systems and launched new applications like Cerence Pay. Key metrics include a GAAP net income of $21.6 million and an Adjusted EBITDA of $40.3 million. For Q2 FY21, revenue is projected at $92 million to $95 million, while full-year guidance has been updated to $370 million to $380 million.