NASDAQ$CRNC
Cerence Inc. · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Cerence reported first quarter fiscal year 2023 results, with revenue higher than projected in the core business due to stronger than expected contributions from connected services, professional services, and fixed contracts.
Cerence had a strong start to the fiscal year with revenue higher than projected in the core business. Cerence Co-Pilot wins four more customers, including two win-backs. Cerence Ride wins three more design awards for two-wheelers.
- Strong Core Business drives revenue and profitability
- Cerence Co-Pilot wins four more customers, including two win-backs
- Cerence Ride wins three more design awards for two-wheelers
- Investor Day sets “Destination Next” long-term growth strategy
Headline financials
Revenue & EPS history
Cerence · Revenue · Quarterly
$83.7M
Revenue by segment
Cerence · $80.8M total across 3 segments · Q4 2023
- License$43.1M+126.9%53.4%
- Connected Services$19.2M+5.9%23.7%
- Professional Services$18.5M-12.1%22.9%
Forward guidance
For the fiscal quarter ending March 31, 2023, revenue is expected to be in the range of $64 million to $68 million. Adjusted EBITDA is expected to be in the range of approximately $1 million to $4 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 $275 million to $290 million. Adjusted EBITDA is expected to be in the range of approximately $27 million to $34 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+6.5%
Avg return
Earnings day
+6.5%
Avg return
5 days after
+8.5%
Avg return
30 days after
67%
20 / 30 earnings
Positive
+155.3%
Q4 2024
Best reaction
-44.0%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +3.8% | +1.3% | +0.5% | |
| Q1 2026 | +4.1% | -18.6% | -29.2% | |
| Q4 2025 | +26.8% | +29.5% | +41.7% | |
| Q2 2025 | -12.1% | +1.7% | +1.8% | |
| Q1 2025 | +13.7% | +12.1% | -19.1% | |
| Q4 2024 | +155.3% | +129.4% | +172.0% | |
| Q3 2024 | +6.3% | +6.1% | +23.2% | |
| Q2 2024 | -44.0% | -47.8% | -68.2% | |
| Q1 2024 | -20.2% | -16.6% | -29.5% | |
| Q4 2023 | +2.2% | +1.7% | +15.4% | |
| Q3 2023 | +2.1% | +1.4% | -7.0% | |
| Q2 2023 | -13.6% | -10.7% | +14.5% | |
| Q1 2023 | +3.7% | +1.9% | -9.5% | |
| Q4 2022 | +33.5% | +25.0% | +22.1% | |
| Q3 2022 | -20.4% | -20.7% | -37.3% | |
| Q2 2022 | -1.6% | +10.2% | +11.3% | |
| Q1 2022 | -28.0% | -31.8% | -48.5% | |
| Q4 2021 | -24.8% | -25.9% | -30.6% | |
| Q3 2021 | +12.9% | +10.0% | -1.4% | |
| Q2 2021 | -4.3% | -5.3% | +29.0% | |
| Q1 2021 | -3.8% | +6.2% | -19.1% | |
| Q4 2018 | +19.0% | +22.7% | +43.0% | |
| Q4 2020 | +6.0% | +27.4% | +42.4% | |
| Q3 2019 | +4.3% | -1.3% | -1.4% | |
| Q3 2020 | +31.2% | +21.3% | +24.4% | |
| Q2 2019 | +9.3% | +8.0% | +63.5% | |
| Q2 2020 | +13.8% | +27.1% | +83.3% | |
| Q1 2019 | +3.3% | +2.5% | -25.7% | |
| Q1 2020 | +2.5% | +5.9% | -28.6% | |
| Q4 2019 | +15.5% | +21.1% | +21.0% | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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