Cerence Inc. (NASDAQ:CRNC) Q4 2024 Earnings Conference Call November 21, 2024 8:30 AM ET

Company Participants

Brian Krzanich - CEO
Tony Rodriquez - Interim CFO

Conference Call Participants

Jeff Van Rhee - Craig-Hallum
Colin Langan - Wells Fargo
Nicholas Doyle - Needham & Company
Aman Gupta - Goldman Sachs

Operator

Good day, and welcome to Cerence’s Fourth Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] As a reminder, this call may be recorded.

I would now like to turn the call over to Jason Gold (ph), Investor Relations at Cerence. Please go ahead.

Unidentified Company Representative

Welcome to Cerence’s fourth quarter and fiscal year 2024 conference call. Before we begin, I would like to remind you that this call may involve certain forward-looking statements. Any statements that are not statements of historical fact, including statements related to our expectations, estimates, assumptions, beliefs, outlook, strategy, goals, objectives, targets and plans should be considered to be forward-looking statements.

Cerence makes no representations to update those statements after today. These statements are subject to risks and uncertainties, which may cause actual results to differ materially from such statements, as described in our SEC filings, including the Form 8-K with the press release preceding today's call, our Form 10-K filed on November 29, 2023, and our most recent Form 10-Q.

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. The press release is available in the IR section of our website.

Joining me on today's call are Brian Krzanich, CEO of Cerence; and Tony Rodriguez, Interim CFO of Cerence. Please note that the slides with further context are available in the investors section of our website.

Now, on to the call. Brian?

Brian Krzanich

Thank you, Jason, and good morning, everyone, and welcome to the Q4 2024 Cerence earnings call. I'm excited to talk to you this morning as Cerence's new CEO. While Tony will walk you through the details of our Q4 and fiscal year ‘24 earnings, I'm very proud of what the organization has delivered for Q4. The top line revenue of $54.8 million and adjusted EBITDA of negative $1.9 million, both exceeded the high-end of our guidance. I couldn't be more proud of what the team has accomplished and the head start this gives us for 2025.