NASDAQ$CRNC
Cerence Inc. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Cerence reported third quarter fiscal year 2023 results, with revenue and key profitability metrics at or above the high end of guidance.
Cerence's Q3 2023 results showed strength in the core automotive business with new OEM platform launches and emerging market growth, along with progress in the two-wheeler market, all while focusing on leveraging generative AI and large language models.
- On track to achieve full fiscal year revenue guidance
- Strategic wins for connected services for a major Japanese OEM and Emergency Vehicle Detection for a major Korean OEM's ADAS platform
- Two-wheeler design win for major Japanese brand; four two-wheeler manufacturers start production (SOP)
- Successful convertible note offering leading to approximately $8 million in annual interest expense savings
Headline financials
Revenue & EPS history
Cerence · Revenue · Quarterly
$61.7M
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 September 30, 2023, revenue is expected to be in the range of $72 million to $76 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.
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 Q3 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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