Cerence reports Q4 EPS (14c), consensus (23c)

Reports Q4 revenue $58.1M, consensus $56.05M. Stefan Ortmanns, Chief Executive Officer at Cerence, commented, "Our fourth quarter operating results were better than expected, and as committed, included no contribution from fixed contracts. Most importantly, our bookings at $684M represent an increase of 16% compared to fiscal 2021 and include a number of key program wins for some of our latest product offerings, indicating continued innovation partnerships with the world’s leading automakers and transportation OEMs as they continue to adopt new technologies from Cerence. As we look to the future, we see significant opportunities for growth as we expand our focus from the driver-centric cockpit to the fully immersive digital cabin. During our investor day presentation, we are excited to share with investors our organic growth strategy, the technology roadmap to support it, and the accompanying multi-year plan that will drive long-term sustainable growth."