CRNC - Cerence Non-GAAP EPS of -$0.04 beats by $0.09 revenue of $68.39M beats by $2.47M

May, 09 2023 07:02 AM Cerence Inc.

2023-05-09 07:02:20 ET

Cerence press release ( NASDAQ: CRNC ): Q2 Non-GAAP EPS of -$0.04 beats by $0.09 .
Revenue of $68.39M (-20.7% Y/Y) beats by $2.47M .
Bookings for the first half of the fiscal year were $263M, up 11% over the second half of fiscal 2022. We had strong bookings in the first half, with seven strategic wins, including three competitive win-backs.
For the fiscal quarter ending June 30, 2023, revenue is expected to be in the range of $58 million to $62 million. The guidance includes no revenue from fixed contracts in Q3 as those are now expected in Q4. Adjusted EBITDA is expected to be in the range of approximately ($5) million to ($1) million.

For the full fiscal year ending September 30, 2023, the company has raised the low end of the initial guidance with revenue now expected to be in the range of $280 million to $290 million. Adjusted EBITDA is expected to be in the range of approximately $27 million to $34 million.

For further details see: