Cerence Inc (CRNC) News & EventsCRNCCerence Inc

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.

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."