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Cerence | 10-Q: Q3 2024 Earnings Report

Cerence | 10-Q: Q3 2024 Earnings Report

Cerence | 10-Q：2024财年三季报
美股SEC公告 ·  2024/08/10 04:48

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Cerence Inc. reported Q3 FY2024 revenue of $70.5 million, up 14.4% year-over-year, driven by a 66.6% increase in license revenue to $43.1 million. However, the company recorded a significant goodwill impairment charge of $357.1 million due to macroeconomic conditions and stock price declines, resulting in a net loss of $313.5 million compared to a $16.5 million loss last year.Connected services revenue declined 41.1% to $10.9 million, while professional services revenue decreased 4% to $16.5 million. Gross profit increased 23.8% to $50.4 million, with gross margin improving to 71.5%. Operating expenses surged to $405.3 million primarily due to the goodwill impairment charge, compared to $49.2 million in the prior year period.The company announced a new restructuring plan in August 2024 aimed at reducing operating expenses, with expected cash restructuring charges of $18-22 million. Cerence maintained a solid liquidity position with $126.3 million in cash and marketable securities as of June 30, 2024. The company also modified its credit agreement terms and remains focused on cost optimization while investing in AI technology development.
Cerence Inc. reported Q3 FY2024 revenue of $70.5 million, up 14.4% year-over-year, driven by a 66.6% increase in license revenue to $43.1 million. However, the company recorded a significant goodwill impairment charge of $357.1 million due to macroeconomic conditions and stock price declines, resulting in a net loss of $313.5 million compared to a $16.5 million loss last year.Connected services revenue declined 41.1% to $10.9 million, while professional services revenue decreased 4% to $16.5 million. Gross profit increased 23.8% to $50.4 million, with gross margin improving to 71.5%. Operating expenses surged to $405.3 million primarily due to the goodwill impairment charge, compared to $49.2 million in the prior year period.The company announced a new restructuring plan in August 2024 aimed at reducing operating expenses, with expected cash restructuring charges of $18-22 million. Cerence maintained a solid liquidity position with $126.3 million in cash and marketable securities as of June 30, 2024. The company also modified its credit agreement terms and remains focused on cost optimization while investing in AI technology development.
Cerence Inc. 报告称，2024财年第三季度营业收入为7050万，同比增长14.4%，这主要得益于许可收入增加66.6%，达到4310万。然而，由于宏观经济条件和股票价格下跌，公司记录了35710万的重大商誉减值费用，导致净亏损为31350万，而去年仅亏损1650万。连接服务营收下降41.1%，降至1090万，而专业服务收入减少4%，降至1650万。毛利润增加23.8%，达到5040万，毛利率提升至71.5%。营业费用飙升至40530万，主要由于商誉减值费用，而去年同期为4920万。公司在2024年8月宣布了一项新的重组计划，旨在减少营业费用，预计现金重组费用为1800-2200万。Cerence 维持了稳健的流动性，截至2024年6月30日的现金和可交易证券为12630万。公司还修改了其信贷协议条款，并继续关注成本优化，同时投资于人工智能科技开发。
Cerence Inc. 报告称，2024财年第三季度营业收入为7050万，同比增长14.4%，这主要得益于许可收入增加66.6%，达到4310万。然而，由于宏观经济条件和股票价格下跌，公司记录了35710万的重大商誉减值费用，导致净亏损为31350万，而去年仅亏损1650万。连接服务营收下降41.1%，降至1090万，而专业服务收入减少4%，降至1650万。毛利润增加23.8%，达到5040万，毛利率提升至71.5%。营业费用飙升至40530万，主要由于商誉减值费用，而去年同期为4920万。公司在2024年8月宣布了一项新的重组计划，旨在减少营业费用，预计现金重组费用为1800-2200万。Cerence 维持了稳健的流动性，截至2024年6月30日的现金和可交易证券为12630万。公司还修改了其信贷协议条款，并继续关注成本优化，同时投资于人工智能科技开发。
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