Cerence reports Q4 adjusted EPS (7c), consensus (38c)

Reports Q4 revenue $54.8M, consensus $47.65M. Brian Krzanich, Chief Executive Officer of Cerence (CRNC), commented, “The automotive industry is experiencing rapid transformation, and I am excited to have joined Cerence at this pivotal moment. We finished the fiscal year strong, with revenue exceeding the high end of our guidance. Throughout the course of the year, we gained critical momentum for our generative AI- and large language model-based solutions, with six generative AI program launches with leading automakers in fiscal 2024. As we work to advance and roll-out our next-gen roadmap, I look forward to leading the team toward our goals of increased efficiency and a high level of customer satisfaction, setting us up for anticipated sustainable, profitable growth in the years ahead.”