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. (NASDAQ: CRNC), also referred to as Cerence AI, regularly issues news and updates about its conversational AI technologies, automotive partnerships, financial performance, and corporate developments. As a software company focused on AI-powered user experiences for automotive and transportation, Cerence’s news flow often centers on product platforms like Cerence xUI, its CaLLM language models, and domain-specific AI agents for drivers, dealerships, and OEMs.
On this page, readers can follow announcements about Cerence xUI deployments with global automakers, including selections of the platform to power next-generation in-car assistants and LLM-powered in-vehicle experiences. News items also cover collaborations with technology partners such as NVIDIA, Microsoft, and SiMa.ai, highlighting how Cerence uses cloud and edge AI infrastructure to deliver low-latency, automotive-grade conversational interfaces.
Investors can track Cerence’s financial communications, including quarterly and annual results, guidance updates, and capital structure actions such as repurchases of convertible senior notes. The company’s press releases also reference key performance indicators like the percentage of worldwide auto production with Cerence technology and changes in connected cars shipped, providing context for its position in the automotive software landscape.
In addition, Cerence publishes updates about its participation in investor conferences, industry events like CES, and recognition such as awards for its xUI platform. For those following the evolution of AI in vehicles and the broader automotive ecosystem, the Cerence news feed offers insight into new AI agents, audio AI capabilities, and the company’s efforts to extend its technology beyond the in-car experience. Bookmark this page to monitor ongoing developments, product announcements, and financial updates related to CRNC.
Cerence Inc. (NASDAQ: CRNC) has announced a partnership with Tuya Smart (NYSE: Tuya, HKEX: 2391) to provide multi-lingual text-to-speech (TTS) for Tuya's cloud developer platform designed for two-wheeled vehicles. This integration will enable riders to hear real-time information such as speed, riding time, battery status, and messages via voice, enhancing safety and enjoyment.
Tuya's platform serves over 100 two-wheeler manufacturers using the "Works with Smart Life" app. The partnership aims to expand in the future, bringing additional Cerence solutions to Tuya's platform. This collaboration aligns with the growing relevance of voice-powered interaction in consumer products and presents an opportunity for Cerence to extend its innovation in transportation.
Cerence (NASDAQ: CRNC) has announced the deployment of Cerence Chat Pro, a generative AI technology, in Škoda vehicles. This integration enhances the in-car voice assistant, Laura, providing more intelligent and entertaining interactions. The system, available in multiple languages including English, Spanish, Czech, and German, simplifies in-car navigation and access to vehicle features, improving driver safety. Available in Škoda Enyaq, Superb, Kodiaq, and Octavia models, the AI-driven assistant ensures data privacy by deleting interactions after processing. Christian Mentz, Cerence's CRO, highlighted this advancement as a benchmark for intelligent automotive technology. Cerence has also partnered with the Volkswagen Group to extend Cerence Chat Pro to Volkswagen and Audi models.
Cerence reported its Q3 FY2024 results, showing GAAP revenue of $70.5 million, up from $61.7 million YoY. The GAAP net loss was $313.5 million, primarily due to a $357 million goodwill impairment charge. Non-GAAP net income was $8.4 million, contrasting with a $1.7 million loss last year.
The company generated a positive cash flow of $12.9 million and announced five generative AI programs in production.
Transformation plans aim for $35-40 million in annualized cost savings by FY25. Key performance indicators include 53% of worldwide auto production incorporating Cerence technology and a 33% YoY increase in adjusted total billings.
Q4 FY2024 revenue is projected between $44 million to $50 million, with a GAAP net loss of $28-$32 million. FY2024 revenue guidance is set at $321-$327 million with a GAAP net loss of $596-$600 million.
Cerence Inc. (NASDAQ: CRNC), a company specializing in AI for mobility, has announced that it will release its fiscal third quarter financial results for the period ending June 30, 2024, on August 8, 2024. The results will be disclosed at 7:00 a.m. Eastern Time. Following the release, Cerence will host a live conference call and webcast at 8:30 a.m. Eastern Time to discuss the quarterly performance. Investors and analysts can participate in the audio conference by registering online. The webcast and accompanying slides will be accessible through the Investor section of Cerence's website.
Cerence Inc. (NASDAQ: CRNC) has announced a collaboration with smart, the all-electric automobile brand, to develop AI-powered solutions for smart's next-generation in-car experiences. The partnership will debut with the Concept #5 model, leveraging Cerence's core technologies and new AI capabilities to transform driver-vehicle interactions.
Key features of the collaboration include:
- Cerence Car Knowledge: Enables intuitive voice-based inquiries about car features and functions
- Cerence Chat Pro: Allows engaging conversations with the in-car assistant
- Hybrid embedded and cloud-based approach for consistent access
- Integration with smart's intelligent in-vehicle avatars for voice control of various functionalities
This partnership aims to create a more intuitive, integrated, and AI-powered user experience, setting new industry benchmarks in Europe and other markets outside Mainland China.
Cerence Inc. (NASDAQ: CRNC) announced that Chief Product Officer Nils Schanz will take on the additional role of Chief Technology Officer following Iqbal Arshad's departure on July 5, 2024. Schanz, who has driven innovation in Cerence's AI products such as Cerence Chat Pro and Cerence Car Knowledge, will now also oversee the company's global technology, engineering, and product development. CEO Stefan Ortmanns believes this move will enhance alignment and support the company's generative AI roadmap. The company reaffirmed its third-quarter fiscal 2024 guidance, expecting revenue between $66 million and $72 million, GAAP net income between ($4) million and $2 million, and Adjusted EBITDA between $4.5 million and $10.5 million.
Audi has selected Cerence's generative AI technology to enhance the capabilities of its in-car assistant.
Cerence Chat Pro will be deployed in Audi vehicles equipped with the MIB 3 infotainment platform, starting with the 2021 model year, via back-end activation.
Additionally, Cerence Chat Pro will be integrated into Audi's new high-performance computing and infotainment platform, HCP3, which will be used in both electric and combustion-engine vehicles.
This partnership aims to improve user experience by leveraging AI to provide accurate and relevant responses to a wide range of queries, thereby enhancing safety, comfort, and productivity on the road.
Volkswagen has announced the deployment of Cerence Chat Pro, an AI-powered in-car voice assistant integration using ChatGPT, across its European vehicle lineup, including both new and legacy models. This marks the first time the solution is available to drivers. The deployment covers five languages and includes multiple Volkswagen Group brands such as Cupra, Seat, and Skoda. Initially introduced at CES 2024, this integration aims to provide drivers with a more interactive and conversational experience. Volkswagen plans to extend this rollout globally, including the US, by early 2025.
Cerence (NASDAQ: CRNC) has promoted Jennifer Salinas to the newly created role of Executive Vice President & Chief Administrative Officer, effective June 7, 2024. In this role, Salinas will oversee the company's day-to-day administrative activities, strategic planning, and policy improvement efforts. She will continue her responsibilities as General Counsel and lead the Global Technology Services organization, reporting directly to CEO Stefan Ortmanns. With over 25 years of experience, including senior roles at Lenovo and a background in law, Salinas aims to drive Cerence's transformation and balance cost structures while ensuring the delivery of its AI roadmap.
Cerence (NASDAQ: CRNC) has appointed Antonio ('Tony') Rodriquez as Interim Chief Financial Officer, effective June 4, 2024. Tony Rodriquez brings over 25 years of financial leadership experience in various sectors, including eCommerce, SaaS, and consumer marketing. He will oversee the company's finance organization, encompassing accounting, tax, FP&A, treasury, facilities, and procurement. Rodriquez is a partner at CSuite Financial Partners and previously served as CFO of The Bouqs Company and TouchCommerce. CEO Stefan Ortmanns expressed confidence in Rodriquez's ability to contribute to the team while the search for a permanent CFO continues.