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Cerence Inc   (CRNC)
Other Ticker:  
 
    Sector  Technology    Industry Software & Programming
   Industry Software & Programming
   Sector  Technology
 
Price: $14.4100 $-0.39 -2.635%
Day's High: $14.995 Week Perf: -5.51 %
Day's Low: $ 14.27 30 Day Perf: -9.82 %
Volume (M): 430 52 Wk High: $ 36.79
Volume (M$): $ 6,192 52 Wk Avg: $22.12
Open: $14.71 52 Wk Low: $13.83



 Market Capitalization (Millions $) 579
 Shares Outstanding (Millions) 40
 Employees 1,700
 Revenues (TTM) (Millions $) 207
 Net Income (TTM) (Millions $) -56
 Cash Flow (TTM) (Millions $) 6
 Capital Exp. (TTM) (Millions $) 5

Cerence Inc
Cerence creates artificial intelligence-powered virtual assistants for the mobility/transportation market. Our primary market is automobiles, but our solutions are applicable to all modes of transportation, including but not limited to two-wheel vehicles, planes, tractors, cruise ships, and elevators. Our solutions enable natural conversational and intuitive interactions between vehicles, drivers and passengers, and the digital world as a whole. We are the worlds leading provider of AI-powered assistants and innovations for connected and autonomous vehicles, including one of the most popular software platforms for developing automotive virtual assistants such as "Hey BMW" and "Ni hao Banma." All major automobile OEMs or their tier 1 suppliers worldwide, including BMW, Daimler, FCA Group, Ford, Geely, GM, Renault-Nissan, SAIC, Toyota, and Volkswagen Group, are among our customers.
Our platform utilizes industry-leading speech recognition, natural language understanding, speech signal enhancement, text-to-speech, and acoustic modeling technology to provide a conversational AI-based solution. Virtual assistants built with our platform can enable a wide variety of modes of human-vehicle interaction, including speech, touch, handwriting, gaze tracking and gesture recognition, and can support the integration of third-party virtual assistants into the in-vehicle experience.

Our software platform is a market leader for building integrated, branded and differentiated virtual assistants for automobiles. As a unified platform and common interface for automotive cognitive assistance, our software platform provides OEMs and suppliers with an important control point with respect to the mobility experience and their brand value. Our platform is fully customizable and designed to support our customers in creating their own ecosystem in the automobile and transforming the vehicle into a hub for numerous connected devices and services. Virtual assistants built with our software platform can address user requests across a wide variety of categories, such as navigation, control, media, communication and tools. Our software platform is comprised of edge computing and cloud-connected software components and a software framework linking these components together under a common programming interface. We implement our software platform for our customers through our professional services organization, which works with OEMs and suppliers to optimize our software for the requirements, configurations and acoustic characteristics of specific vehicle models.
The market for automotive cognitive assistance is rapidly expanding. The proliferation of smartphones and smart speakers has encouraged consumers to rely on a growing number of virtual assistants and special-purpose bots for various tasks such as controlling entertainment systems and checking the news. Automobile drivers and passengers increasingly expect hands-free access to virtual assistants as part of the mobility experience, with common use cases in a variety of categories including mobility domains such as navigation, voice-activated texts, and telephone communication, automobile domains, such as automobile user guides, and ignition on-off, and generic domains, such as entertainment. To meet the increasing demand for automotive cognitive assistance and to offer differentiated mobility experiences, OEMs and suppliers are building proprietary virtual assistants into an increasing proportion of their vehicles. We believe that this trend will continue and that consumer appetite for automotive cognitive assistance will grow further as vehicles become more autonomous and drivers pursue new forms of human-vehicle engagement previously not feasible during vehicle operation.
We generate revenue primarily by selling software licenses and cloud-connected services. In addition, we generate professional services revenue from our work with OEMs and suppliers during the design, development and deployment phases of the vehicle model lifecycle and through maintenance and enhancement projects. Through our over 20 years in the automotive industry, we have developed longstanding industry relationships and benefit from incumbency. We have existing relationships with all major OEMs or their tier 1 suppliers, and while our customer contracts vary, they generally represent multi-year engagements, giving us visibility into future revenue. We have master agreements or similar commercial arrangements in place with many of our customers, supporting customer retention over the long term.


   Company Address: 1 Burlington Woods Drive Burlington 1803 MA
   Company Phone Number: 362-7300   Stock Exchange / Ticker: NASDAQ CRNC
   


Customers Net Income grew by CRNC's Customers Net Profit Margin grew to

21.69 %

5.79 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
MSFT        0.49% 
AAPL        0.28% 
AMZN   -0.52%    
GOOG        6.35% 
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Partnership

Cerence and ©koda Enhance In-Vehicle Experience with Cutting-Edge AI Technology

Published Tue, Jan 16 2024 1:01 PM UTC

The automotive industry is no stranger to the rapid advancements in artificial intelligence (AI) technology, and leading the charge is Cerence Inc., a global leader in creating AI-powered voice and language solutions for connected cars. In a recent development, Cerence has partnered with ©koda, a Volkswagen Group brand, to elevate the in-vehicle experience through the implem...

Product Service News

Cerence Inc Faces Revenue Surge and Inventory Challenges Amidst Collaboration with Volkswagen

Published Mon, Jan 8 2024 4:00 PM UTC

In a groundbreaking collaboration, Volkswagen and Cerence have joined forces to introduce a new, generative AI-powered interaction for drivers. Volkswagen will become the first automaker to integrate ChatGPT, powered by Cerence Chat Pro, offering unmatched flexibility in conversational AI.Cerence Inc, known for its advanced AI solutions, has reported significant changes in i...

Partnership

A Game-Changing Alliance: Cerence and Microsoft Chart the Course for AI-Driven Automotive User Experience amid Revenue Surge

Published Wed, Jan 3 2024 1:01 PM UTC

In an unprecedented approach to automotive user experience, Cerence, a leading global provider of AI-powered assistants for connected cars, is strategically collaborating with Microsoft to create a next-generation, generative AI-based user interface. The fusion of sophisticated technology from both industry heavyweights promises an elevated level of interaction between drive...

Partnership

Cerence Inc Collaborates with NVIDIA to Unveil Revolutionary Automotive-Specific Language Model, CaLLM, Driving the Future of In-Car Experiences

Published Tue, Dec 19 2023 1:00 PM UTC



In a game-changing collaboration, Cerence Inc, a leading provider of AI-powered voice assistant solutions for automobiles, has joined forces with NVIDIA to introduce an automotive-specific large language model (LLM) called CaLLM. This cutting-edge technology is set to revolutionize in-car experiences by enabling advanced voice recognition and natural language under...

Cerence Inc

Cerence Inc records $11.90 million tax charge

Respectable Revenue Improvement for Cerence Inc. in Q4 2023
Cerence Inc. (NASDAQ: CRNC), a leading software and programming company, has reported a significant improvement in its financial results for the fourth quarter of 2023. The company's revenue increased by a remarkable 71.732% to $59.71 million, resulting in a reduction in losses to $-0.28 per share, compared to $-6.79 in the same quarter the previous year.
This revenue growth outperforms Cerence Inc.'s peers in the Software & Programming sector, who only achieved a 12.14% improvement in top-line during the same period. Furthermore, this improvement in revenue is also a positive sign for rising demand, as evidenced by the increase in accounts receivable, which were valued at $61.3 million.






 

Cerence Inc's Segments
 
 
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