Cerence to Issue Q2 Update on May 7

Cerence to Issue Q2 Update on May 7

Cerence has set a date for the publication of its Q2 results for 2020. The automotive AI specialist will issue its second-ever quarterly report as an independent company on May 7.

It’s already clear that the company has had a fairly eventful Q2. It announced a AI assistant-focused collaborative partnership with LG in January, and new in-car voice assistant tech in February; and in March, Cerence established a $125 million contract with a European car manufacturer and announced new partnerships with Geely and Fiat Chrysler Automobiles.

Having spun off from parent company Nuance Communications last October, Cerence issued promising Q1 results in February. Comparing its results to its performance as a division of Nuance in the previous fiscal year, the company saw increased GAAP revenues and a higher adjusted EBITDA. It did also report a net loss of $11.8 million, compared to a net income of $2.3 million in the previous fiscal year, the company suggested that this was largely due to added operating expenses from acquisitions.

In that report, the company also predicted that it would see GAAP revenues in the range of $80 million to $82 million in Q2, and an EBITDA between $22 million and $24 million.

Clarity will arrive at 7:00 a.m. EDT on May 7, when Cerence’s Q2 report is published; and the company will also host a conference call and webcast to discuss the results at 10:00 a.m. EDT that same day.