Cerence Inc Stock Price, News & Analysis

Cerence Inc. (NASDAQ: CRNC) has appointed Marion Harris, a former Ford Motor Company executive, to serve as an independent, non-executive director effective April 1, 2025. Harris brings over 25 years of experience at Ford, where he most recently served as Chairman and CEO of Ford Motor Credit Company.

During his tenure at Ford Credit, Harris led a digital transformation that achieved the highest consumer satisfaction in the industry, earning him the Auto Finance Executive of the Year award from Auto Finance News. His previous role as Vice President of Ford Mobility included operational responsibility for Ford's startup digital and mobility businesses.

Harris currently serves on the advisory boards of Harbinger Motors and Mobility Impact Partners. He holds both a B.S. and M.A. in mathematics from Mississippi State University.

Cerence Inc. (NASDAQ: CRNC) has unveiled Cerence xUI™, a new hybrid AI assistant platform that combines edge and cloud LLM capabilities for enhanced in-vehicle experiences. The platform leverages NVIDIA and Microsoft technologies, featuring the CaLLM™ family of language models optimized for automotive use.

The company has already secured several strategic partnerships and proof-of-concept programs with global automakers. Cerence xUI offers:

• Hybrid architecture running both in cloud and on-board vehicles
• Integration with NVIDIA DRIVE AGX Orin
• Conversation threads spanning complex queries
• Personalized user experience based on preferences
• Comprehensive knowledge across various domains

The platform can be deployed as a cloud-based add-on to existing systems, a complement to hybrid systems, or as a fully integrated solution, enabling automakers to deliver upgraded LLM-powered features to both current and future vehicles.

Cerence Inc. (NASDAQ: CRNC) reported its Q1 FY2025 results with revenue of $50.9 million, down from $138.3 million in Q1 FY2024. The company experienced significant declines across key metrics, with GAAP gross margin falling to 65.0% from 81.0% and operating margin dropping to -33.3% from 42.3%. The quarter resulted in a GAAP net loss of $24.3 million, compared to a profit of $23.9 million in the prior year.

Despite the declining numbers, the company reported positive developments including six design wins, two wins for generative AI solutions, and six major customer SOPs. Cerence maintains a 51% share of worldwide auto production with its technology, and showed a 5% increase in connected cars shipped.

For Q2 FY2025, Cerence projects revenue between $74-77 million, including $20 million in Fixed License revenue, with adjusted EBITDA expected between $18-22 million. The company maintained its full-year fiscal 2025 guidance unchanged.

Cerence Inc. (NASDAQ: CRNC), an AI transportation technology leader, has scheduled its fiscal first quarter financial results announcement for February 6, 2025, at 4:05 PM ET. The results will cover the quarter ended December 31, 2024. The company will host a conference call and webcast with supplementary slides at 5:00 PM ET on the same day to discuss the results. Investors and analysts can participate in the audio conference call by registering through the provided link, while the webcast will be accessible via the Investor section of Cerence's website.

Cerence Inc. (NASDAQ: CRNC), a global leader in AI for transportation, has announced its participation in the 27th Annual Needham Growth Conference. The presentation will take place on Tuesday, January 14, 2025, at 12:45 p.m. Eastern Time. CEO Brian Krzanich and CFO Tony Rodriquez will participate in a fireside chat format discussion. The presentation will be accessible via webcast through the company's investor relations website, with a replay available afterward at www.cerence.ai.

Cerence Inc. (NASDAQ: CRNC) has expanded its collaboration with NVIDIA to enhance its CaLLM™ family of language models. The partnership leverages NVIDIA AI Enterprise software platform, including TensorRT-LLM and NeMo framework, to optimize performance for both cloud-based and embedded automotive language models.

The collaboration aims to improve in-vehicle assistant performance through NVIDIA's accelerated computing and SoCs, implement automotive-optimized NVIDIA NeMo Guardrails, and optimize agentic architecture via NVIDIA DRIVE AGX Orin. This partnership enables Cerence to deliver enhanced driver experiences with advanced performance, reduced latency, improved privacy, and robust security measures.

The integration focuses on meeting production timelines and productizing generative AI innovation for automotive applications, helping automakers deploy AI-powered solutions more efficiently while delivering cost savings and improved performance.

Cerence Inc. (NASDAQ: CRNC) has announced a multi-year partnership with JLR to develop the luxury automaker's next-generation in-car experience. The collaboration will focus on implementing Cerence's AI-enabled technologies to enhance intelligence and capabilities for JLR customers worldwide.

The partnership aims to continuously expand and improve JLR's in-car experience, focusing on enhancing enjoyment, safety, and productivity through advanced technological solutions. Christine Kemp, JLR's Chief Data and AI Officer, emphasized that voice and AI technology are central to advancing their infotainment system to provide customers with expanded features and an improved in-vehicle journey.

Cerence AI (NASDAQ: CRNC) has announced the repurchase of approximately $27 million of its 3.00% Convertible Senior Notes Due 2025 at 98.5% of their principal amount. The company plans to pay the remaining $60.5 million of Notes upon maturity in June 2025 using cash on hand.

The strategic decision aims to reduce interest expense, eliminate potential dilution from refinancing, and lower leverage. Additionally, Cerence will terminate its undrawn $50 million senior secured first-lien revolving credit facility to save on commitment fees.

The company has reaffirmed its first quarter fiscal year 2025 and full fiscal year 2025 guidance previously disclosed on November 21, 2024.

Cerence AI (NASDAQ: CRNC) has granted equity compensation to its new Executive Vice President and CFO, Tony Rodriquez, who joined on November 29, 2024. The package includes 313,283 time-based restricted stock units and 313,283 performance-based restricted stock units.

The time-based units will vest in three equal installments on October 1 of 2025, 2026, and 2027, contingent on Rodriquez's continued employment. The performance-based units will be earned based on company performance metrics for fiscal years 2025-2027, with one-third eligible each year. These awards were granted as employment inducement under Nasdaq Listing Rule 5635(c)(4).