CRNCNasdaqServices-Prepackaged SoftwareUS GAAP · USD

Cerence Inc.

Cerence Inc. develops conversational and agentic AI software that powers voice-first interactions in vehicles and other connected devices. The company’s core business is embedded automotive software sold largely to global automakers and their tier-one suppliers on a white-label basis, allowing customers to ship branded virtual assistants and in-car experiences. Cerence also extends its technology beyond passenger cars into trucks, two-wheelers, consumer electronics, kiosks, and other voice-enabled endpoints. Its heritage in voice, AI, and edge-to-cloud engineering makes it a specialized software vendor tied closely to vehicle design cycles and long-term OEM relationships.

Kysy yhtiöstä
Liikevaihto252milj. USD
−24,0 %v/v
Liikevoitto (EBIT)−2,3milj. USD
+99,6 %v/v
EBIT-marginaali−0,9%
+174,0 %-yks.v/v
Nettotulos−18,7milj. USD
+96,8 %v/v
Vapaa kassavirta46,8milj. USD
+283,7 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−600−400−2000200400milj. USD2020: 330 milj. USD2020: EBIT 22 milj. USD20202021: 387 milj. USD2021: EBIT 61 milj. USD20212022: 328 milj. USD2022: EBIT −184 milj. USD20222023: 294 milj. USD2023: EBIT −27 milj. USD20232024: 332 milj. USD2024: EBIT −580 milj. USD20242025: 252 milj. USD2025: EBIT −2,3 milj. USD2025252−2,3
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Cerence Inc.

Liiketoiminta

Osuus liikevaihdosta
License revenue73 %

Royalty-based software and IP license arrangements, including monetization of Cerence technology and patent-related revenue.

Connected services17 %

Cloud-connected automotive services and recurring software features delivered over time.

Professional services10 %

Design, customization, integration, and post-deployment support for customer programs.

Tuotteet

Raportoitu · osuus liikevaihdosta
55,9%23,0%21,2%FY2025100 %
  • License55,9 %
  • Professional Services23,0 %
  • Connected Services21,2 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Cerence sells primarily to automotive OEMs and the tier-one suppliers that integrate software into vehicle platforms. In fiscal 2025, OEMs represented about half of revenue and tier-one suppliers represented about half, showing a concentrated but diversified customer base across the auto value chain. Its customers buy Cerence technology to add branded voice assistants, cognitive assistance, and cloud-connected features to vehicles without building the stack entirely in-house. The company also serves transportation and adjacent-device customers, but automotive remains the dominant end market and shapes product requirements, sales cycles, and support needs.

Automotive OEMs

Major automakers buy white-label voice assistants, connected services, and integration support to ship branded in-car AI experiences.

Tier-one automotive suppliers

Suppliers such as HARMAN, Bosch, Continental, and Aptiv integrate Cerence software into vehicle systems for OEM programs.

Transportation and adjacent-device customers

Customers in trucks, two-wheelers, TVs, smart watches, and kiosks use Cerence voice and AI capabilities outside passenger cars.

Strategia

Cerence’s strategy centers on deepening its position inside the automotive cockpit by embedding conversational and agentic AI into more vehicle programs and expanding the value of each customer relationship over time. The company emphasizes a high-touch, direct sales model supported by account managers, sales engineers, and professional services teams that work closely with OEMs during vehicle design and deployment. It is also pushing its technology into adjacent transportation and consumer-device categories to broaden the addressable market beyond passenger cars. At the same time, Cerence is focused on keeping pace with rapid AI innovation, including large language model capabilities, while preserving the customization, branding, and integration depth that OEM customers require.

Increase content per vehicle through richer AI and connected featuresKeskipitkä aikaväli

More functionality per program can offset pricing pressure and deepen OEM dependence on Cerence software.

Protect and renew long-term OEM and supplier relationshipsLyhyt aikaväli

Multi-year automotive contracts provide visibility and are central to retaining platform positions across vehicle generations.

Broaden beyond passenger cars into adjacent marketsKeskipitkä aikaväli

Diversification can reduce dependence on the automotive cycle and open new use cases for voice AI.

Keep products competitive against in-house and open-source AI alternativesLyhyt aikaväli

Automakers may build their own assistants or use lower-cost alternatives, so Cerence must stay differentiated in integration and customization.

Maantiede

Q1/2026

Cerence reports a geographically diverse revenue base, with fiscal 2025 revenue split approximately 16% Americas, 42% Europe, and 42% Asia. This mix reflects the company’s dependence on global automotive production and the location of major OEM and supplier engineering centers. Europe and Asia are especially important because many of Cerence’s largest customers are headquartered or manufacture there, and vehicle programs are often developed regionally before global rollout. The business therefore depends on cross-border customer support, local sales coverage, and exposure to regional auto production cycles and regulatory changes.

Saksa44 %
USA17 %
Etelä-Korea17 %
Kina12 %
Japan10 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Cerence operates in a highly competitive market where automakers and suppliers can switch to lower-cost alternatives, build competing solutions in-house, or adopt open-source AI tools. Because its software is embedded in vehicle programs, product defects, delayed launches, or failure to keep pace with new AI standards can directly affect revenue recognition, customer retention, and reputation. The business is also exposed to customer concentration and the automotive cycle, so changes in OEM production schedules, regional demand, tariffs, or regulatory shifts can quickly affect demand and timing. In addition, the company’s reliance on intellectual property monetization and complex software products creates legal, accounting, and execution risk, including unpredictable outcomes from patent-related revenue and potential impairment of intangible assets.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Customer concentration and automotive production volatility1Competition from in-house OEM solutions and alternative AI platforms2Rapid technology change and product obsolescence3Software defects and implementation failures4Goodwill and intangible asset impairment5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Customer concentration and automotive production volatilityVaikutus: KorkeaTodennäköisyys: Korkea

    Revenue depends on a limited set of OEM and supplier programs that can be delayed, canceled, or repriced.

    Kohdistuu: Global automotive OEMs and tier-one suppliers

  2. Competition from in-house OEM solutions and alternative AI platformsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Customers may build their own assistants or choose competitors, reducing Cerence’s share of vehicle programs.

    Kohdistuu: Automotive voice assistant market

  3. Rapid technology change and product obsolescenceVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Fast-moving AI standards and LLM adoption can outpace product development and reduce relevance.

    Kohdistuu: Conversational AI and connected services

  4. Software defects and implementation failuresVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Bugs in embedded software can cause delayed revenue, costly fixes, customer claims, and reputational harm.

    Kohdistuu: Vehicle programs and cloud-connected deployments

  5. Goodwill and intangible asset impairmentVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Weak market capitalization, lower forecasts, or adverse industry trends can trigger non-cash write-downs.

    Kohdistuu: Acquired software and IP assets

Kysy Clarifolta: Cerence Inc.

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition

Different contract types and performance obligations affect when revenue is recorded and how lumpy results appear.

Vaikutus: Can materially shift quarterly and annual revenue mix

IP monetization and patent license accounting

Large one-time or variable licensing arrangements can distort comparability across periods.

Vaikutus: Can create outsized gross profit in a single quarter

Goodwill and intangible asset impairment

Acquired software and IP assets must be tested when market or operating conditions deteriorate.

Vaikutus: Potential non-cash write-downs to earnings and equity

Deferred costs and internally developed software

Capitalization versus expensing decisions affect operating margins and asset balances.

Vaikutus: Changes expense timing and reported profitability

Stock-based compensation and convertible debt

These items influence operating expense, dilution, and financing-related accounting.

Vaikutus: Affects EPS, leverage, and cash flow presentation

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Päivitetty: 24.9.2026

Cerence Inc. (CRNC) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo