Cerence Announces Fiscal Year 2024 Results

Cerence announced its fourth quarter results for fiscal year 2024. Fourth quarter revenue exceeded expected guidance; operating cash flow reached $6.1 million. Preliminary revenue estimates for fiscal year 2025 are $236 million to $247 million. The number of platform releases in fiscal year 2024 reached a record high, totaling 22, including 6 generative AI solutions. Four platforms were released in the fourth quarter. In fiscal year 2024, a total of 10 customer cooperation projects were won, covering well-known automobile brands such as Volkswagen, Renault, Audi, smart and Skoda, and six projects were successfully launched. In addition, Cerence has achieved key cooperation results in deploying AI solutions with automakers such as BMW, Great Wall Motors and Zeekr. Cerence has cooperated with Microsoft to develop CaLLM™ Edge, the world's first automotive-grade small language model with enhanced privacy and security protection.