Cerence Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags

Cerence (NASDAQ:CRNC) Full Year 2023 Results

Key Financial Results

• Revenue: US$294.5m (down 10% from FY 2022).
• Net loss: US$56.3m (loss narrowed by 82% from FY 2022).
• US$1.40 loss per share (improved from US$7.93 loss in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Cerence Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 5.3%.

In the last 12 months, the only revenue segment was Automotive contributing US$294.5m. The largest operating expense was Research & Development (R&D) costs, amounting to US$123.3m (48% of total expenses). Explore how CRNC's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are up 4.9% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Cerence that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.