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Cerence Expands Collaboration with Geely into Robotics
Cerence (CRNC) announced that its collaboration with Geely (GELYF) is expanding from intelligent cockpits to embodied robotics, with the two companies working together to advance multilingual human-machine interaction for robotics applications. The collaboration brings Cerence AI's production-proven speech and conversational AI technologies into physical AI. Cerence's robotics solutions leverage production-grade, multilingual conversational AI to help machines listen, understand, and respond reliably across languages, environments, and use cases. The collaboration marks the expansion of Cerence AI's work with Geely from intelligent cockpits to service robotics, and makes its public debut at the Paris Motor Show.
Cerence Repurchases $10 Million of Convertible Notes
Cerence announced that, in light of its current cash position and outlook for future cash generation, the company entered into privately negotiated transactions with certain holders of its 1.50% Convertible Senior Notes Due 2028, pursuant to which the company agreed to repurchase $10M aggregate principal amount of the Notes from such holders at a cash repurchase price equal to 92.75% of their principal amount, together with the accrued and unpaid interest thereon to the settlement date. The repurchase of the Notes at a price below par represents a strategic decision by the company to utilize its cash reserves efficiently. The transaction will reduce interest expense, eliminate potential dilution from refinancing the Notes being repurchased, and lower leverage - intended to deliver a net positive outcome for shareholders. Assuming completion of the repurchase of the Notes, the company will continue to evaluate cash on hand and the market for the remaining $170M of Notes through maturity in 2028.
Sees Q3 Revenue of $68M-$72M
Sees Q3 revenue $68M-$72M, consensus $68.22M. Sees Q3 adjusted EBITDA $8M-$12M.
Cerence AI Reports Q2 Revenue of $64.2M
Reports Q2 revenue $64.2M, consensus $60.87M. "We delivered another strong quarter, exceeding the high end of our revenue and adjusted EBITDA guidance while continuing to generate meaningful free cash flow," said Brian Krzanich, Chief Executive Officer of Cerence AI. "We believe that our results for the quarter reflect disciplined execution across the business and underscore the strength of our position as a trusted AI partner to the world's leading automakers. As the industry accelerates its adoption of advanced AI in the vehicle, customers are increasingly turning to Cerence AI for solutions that combine reliability, flexibility, and deep automotive expertise. This is driving growing momentum for Cerence's leading technology, including the first Cerence xUI-powered cars now entering production, as well as broader adoption across our portfolio."
Company Raises FY26 Revenue Outlook to $305M-$320M
Narrows FY26 revenue view to $305M-$320M from $300M-$320M, consensus $313.94M. Narrows FY26 adjusted EBITDA view to $60M-$70M. Krzanich continued, "At the same time, we are making progress in bringing our technology into select adjacent markets where our domain expertise and edge-based approach are well suited, while actively protecting and managing our intellectual property as part of our long-term strategy. We believe we have a durable growth profile over time, supported by disciplined execution, strong cash generation, and a continued focus on profitable growth. Based on our strong performance and improved visibility, we are raising the midpoints of our full-year revenue, adjusted EBITDA, and free cash flow guidance."
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