Business
Cerence Announces Fourth Quarter and Fiscal Year 2021 Results
Fourth Quarter and Fiscal Year Highlights Strong bookings of $590M in FY21 - increases backlog to approximately $2 billionMomentum for new products leads to
About this update from Cerence Inc.
[{"type":"text","content":"Fourth Quarter and Fiscal Year Highlights Strong bookings of $590M in FY21 - increases backlog to approximately $2 billionMomentum for new products leads to orders representing nearly 20% of total bookingsWon first major customer in the building mobility market for the connected elevator of the futureVinFast, Vietnam’s first domestic car company and a leader in electric vehicle innovation worldwide, selected Cerence to power conversational AI across its lineup of smart EVsCerence Pay receives coveted Automotive News PACE Award, the industry benchmark for innovationQuarterly revenue grew 7.5% year over year, full year revenue grew 17%Met or exceeded nearly all profitability metrics for the quarter and fiscal year BURLINGTON, Mass., Nov. 22, 2021 (GLOBE NEWSWIRE) -- Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today reported its fourth quarter and fiscal year 2021 results for the year ended September 30, 2021. Results Summary (1)(in millions, except per share data) Three Months Ended Twelve Months Ended September 30, September 30, 2021 2020 2021 2020GAAP Revenue $98.1 $91.2 $387.2 $331.0GAAP Gross Margin 75.4% 72.0% 73.9% 67.4%Non-GAAP Gross Margin 78.1% 75.8% 77.3% 71.6%GAAP Operating Margin 11.0% 17.8% 15.7% 6.8%Non-GAAP Operating Margin 37.2% 42.1% 37.8% 32.3%GAAP Net Income (Loss) $8.0 $8.2 $45.9 $(18.3)Non-GAAP Net Income $28.4 $26.0 $107.2 $65.3Adjusted EBITDA $38.8 $40.7 $155.9 $116.2Adjusted EBITDA Margin 39.6% 44.6% 40.3% 35.1%GAAP Net Income (Loss) per Share - diluted $0.20 $0.21 $1.17 $(0.50)Non-GAAP Net Income per Share - diluted $0.66 $0.62 $2.53 $1.70 (1) Please refer to the “Discussion of Non-GAAP Financial Measures” and “Reconciliations of GAAP Financial Measures to Non-GAAP Financial Measures” included elsewhere in this release for more information regarding our use of non-GAAP financial measures. Sanjay Dhawan, Chief Executive Officer of Cerence, stated, “We finished the year strong, especially considering the production challenges our customers are facing due to semiconductor shortages. Our total company revenue grew 17% compared to the auto production growth of 9% over the same time-period, which is testament to the secular tailwinds, as well as, the innovative products and services we continue to bring to market.” Dhawan continued, “We had another strong year for bookings at $590 million of which 20%...