CRNC - Cerence sees FQ2 revenue above consensus estimate

Cerence (NASDAQ:CRNC) has reported prelim revenue of $85.5M and $86.5M for FQ2, above consensus estimate of $84.44M. Non-GAAP net income is projected between $0.32 and $0.33 per diluted share vs. $0.34 consensus, while adj. EBITDA is seen at $23.4M and $24.5M. Bookings are likely to come in at $448.1M in 1H22. Cerence (CRNC) previously guided for FQ2 revenue of $82M-$86M, non-GAAP net income between $0.31 and $0.38 per share and adj. EBITDA between $22M and $26M. The firm also affirmed its FY22 guidance issued on Feb. 7, 2022. In other news, the company appointed Tom Beaudoin as EVP and CFO, replacing Marc Montagner, who resigned from the company. Beaudoin is a Cerence director and an industry veteran with nearly 40 years of relevant financial and industry experience. Furthermore, Cerence added former Intel executive Doug Davis to its board of directors. Davis joins as an independent director, bringing the total number

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Cerence sees FQ2 revenue above consensus estimate