Cerence Inc. (NASDAQ:CRNC) Q2 2022 Results Conference Call May 10, 2022 8:30 AM ET

Company Participants

Rich Yerganian - SVP, IR

Stefan Ortmanns - CEO

Tom Beaudoin - CFO

Conference Call Participants

David Kelley - Jefferies

Jeffrey Van Rhee - Craig Hallum

Luke Junk - Baird

Mark Delaney - Goldman Sachs

Raji Gill - Needham

Operator

Good day, and thank you for standing by. Welcome to the Cerence Q2 2022 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to turn the conference over to your speaker today, Rich Yerganian, Senior Vice President of Investor Relations. Please go ahead.

Rich Yerganian

Thank you, Christie. Welcome to Cerence's Second Quarter Fiscal Year 2022 Conference Call. Before we begin, I would like to remind you that this call may involve certain forward-looking statements. These statements are subject to risks and uncertainties as described in the press release preceding today's call. Cerence makes no representations to update those statements after today.

In addition, the company may refer to certain non-GAAP measures, key performance indicators and pro forma financial information during this call. Please refer to today's press release for further details of the definitions, limitations and uses of those measures and reconciliations of non-GAAP measures to the closest GAAP equivalent.

Joining me on today's call are Stefan Ortmanns, CEO of Cerence; and Tom Beaudoin, CFO of Cerence. As a reminder, the only authorized spokespeople for the company are Stefan, Tom and myself.

Before handing the call over to Stefan, I would like to announce several upcoming investor events. The exact timing of our participation is subject to change, so please go to the Events section of our IR website for the latest information. The conferences include the virtual 19th Annual Craig-Hallum Institutional Investor Conference on June 1, the Baird 2022 Global Consumer Technology and Services Conference on June 6 in New York and the 6th Annual Needham Virtual Automotive Tech Conference on June 7.

Now on to the call. Stefan?

Stefan Ortmanns

Thank you, Rich. Welcome, everyone, and thank you for joining us to discuss our second quarter earnings. As you saw in our release this morning, we delivered solid results for the quarter against a backdrop of continuing disruptions in auto production. We either met or were at the high end of the range for most key financial metrics in the quarter. In addition to the quarterly matrix, we delivered very strong bookings in the first half of the year, up 53% from the same period in the prior year.