Cerence (CRNC) Tops Q3 EPS by 11c, beats revenue, offers guidance

Cerence (NASDAQ: CRNC) reported Q3 EPS of ($0.04), $0.11 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $61.7 million versus the consensus estimate of $60.73 million.

Fourth Quarter Fiscal Year 2023 Outlook

For the fiscal quarter ending September 30, 2023, revenue is expected to be in the range of $72 million to $76 million. The guidance includes approximately $13 million of fixed contracts, bringing the total for the fiscal year to approximately $37 million.

GAAP Net Loss is expected to be in the range of ($13) million to ($9) million. Adjusted EBITDA is expected to be in the range of approximately $10 million to $14 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 $286 million to $290 million. GAAP Net Loss is expected to be in the range of ($58) million to ($54) million. Adjusted EBITDA is expected to be in the range of approximately $34 million to $38 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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