Cerence (CRNC) Tops Q3 EPS by 16c, provides guidance

Cerence (NASDAQ: CRNC) reported Q3 EPS of $0.19, $0.16 better than the analyst estimate of $0.03. Revenue for the quarter came in at $70.5 million versus the consensus estimate of $68.4 million.

GUIDANCE:

Cerence sees Q4 2024 revenue of $44-50 million, versus the consensus of $49.952 million.
GAAP net loss is expected to be in the range of ($32) million to ($28) million. Adjusted EBITDA is expected to be in the range of approximately ($19) million to ($13) million.

Accordingly, for the full fiscal year ending September 30, 2024, the company expects revenue to be in the range of $321 million to $327 million which includes an estimated $30 million of fixed contracts, versus the consensus of $324.5 million. GAAP net loss is expected to be in the range of ($600) million to ($596) million, which includes a goodwill impairment charge of $357.1 million for the three months ended June 30, 2024, in addition to the impairment charge for the three months ended March 31, 2024, of $252.1 million. Adjusted EBITDA is expected to be in the range of approximately $64 million to $70 million.

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

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