Cerence (CRNC) Tops Q1 EPS by 8c, Revenue Guidance Misses

Cerence (NASDAQ: CRNC) reported Q1 EPS of $0.59, $0.08 better than the analyst estimate of $0.51. Revenue for the quarter came in at $94.4 million versus the consensus estimate of $94.38 million.

GUIDANCE:

Cerence sees Q2 2022 revenue of $82-86 million vs $100 million consensus.

• For the fiscal quarter ending March 31, 2022, revenue is expected to be in the range of $82 million to $86 million. Adjusted EBITDA is expected to be in the range of approximately $22 million to $26 million. The adjusted EBITDA guidance excludes acquisition-related costs, amortization of acquired intangible assets, stock-based compensation, and restructuring and other cost

Cerence sees FY2022 revenue of $365-385 million $413.8 million consensus.

• The full-year guidance is for revenue to be in the range of $365 million to $385 million representing a 9% decrease at the midpoint compared to the initial FY22 guidance provided on November 22, 2021, and a 3% decrease at the mid-point compared to last year’s actual revenue of $387 million. Adjusted EBITDA for the full year is expected to be in the range of approximately $119 million to $139 million. The adjusted EBITDA guidance excludes acquisition-related costs, amortization of acquired intangible assets, stock-based compensation, and restructuring and other costs

For earnings history and earnings-related data on Cerence (CRNC) click here.

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