Cerence Inc Expects Q2 Revenue of $60M-$64M Vs $70.87M Est, FY24 Revenue of $355M-$375M Vs $362.14M Est
Portfolio Pulse from Benzinga Newsdesk
Cerence Inc (CRNC) provided its Q2 and FY24 revenue forecasts, expecting Q2 revenue of $60M-$64M, below the $70.87M estimate, and FY24 revenue of $355M-$375M, slightly below the $362.14M estimate. The company anticipates a GAAP Net Loss for Q2 but expects positive GAAP Net Income and Adjusted EBITDA for the full year.
February 06, 2024 | 12:05 pm
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Cerence Inc expects lower Q2 revenue than estimated but forecasts positive GAAP Net Income and Adjusted EBITDA for FY24.
The lower than expected Q2 revenue forecast for Cerence Inc may lead to short-term negative sentiment among investors, impacting the stock price negatively. However, the positive outlook for the full fiscal year, including expected GAAP Net Income and Adjusted EBITDA, indicates a mixed impact but with a short-term focus, the negative revenue forecast is likely to weigh more heavily.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100