Summary by Moomoo AI
Cerence reported Q4 FY24 revenue of $54.8M, exceeding guidance, with operating cash flow of $6.1M. The company achieved 22 platform launches in FY24, including 6 for generative AI solutions. However, Q4 GAAP net loss widened to $20.4M from $11.6M year-over-year, with non-GAAP operating margin declining to -7.2% from 17.8%.The company's transformation plan remains on track to deliver net annualized cost savings of $35-40M. Throughout FY24, Cerence maintained its market leadership with technology present in 52% of worldwide auto production and saw a 16% increase in connected cars shipped.For FY25, Cerence projects revenue between $236-247M, including $20M from fixed contracts. Q1 FY25 revenue is expected to be $47-50M with adjusted EBITDA between -$9M to -$6M. The company anticipates full-year adjusted EBITDA of $15-26M, reflecting ongoing transformation efforts.
