Filing Flows › Cerence (CRNC) › Q4 FY24
Cerence (CRNC) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Nov 25, 2024
Cerence (CRNC) reported revenue of $54.8M for the fourth quarter fiscal 2024 (Q4 FY24), -32% from a year earlier and -22% from the quarter before. Operating margin was -35.1%, net loss $20.4M (37.3% of revenue).
Cerence, Q4 FY24: revenue $54.8M (-32% year over year), operating margin -35.1%, net loss $20.4M, operating cash flow $6.1M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $54.8M | -22% | -32% |
| Operating profit | −$19.2M | — | — |
| Net earnings | −$20.4M | — | — |
| Operating cash flow | $6.1M | -52% | -46% |
| Free cash flow | $4.7M | -61% | -52% |
What changed
Revenue was $54.8M in Q4 FY24, down 32% year over year and down 22% from the previous quarter. License was the largest line at 46% of revenue.
Gross margin was 63.7%, down 7.8 points from a year earlier. Operating costs exceeded revenue by $19.2M, an operating margin of -35.1%. Operating expenses grew 1% against a revenue fall of 32%. The fastest-growing cost line was Other operating costs (+678%). The quarter ended with a net loss of $20.4M, narrower than the previous quarter's $313.5M loss.
Operating cash flow was $6.1M (down 46% year over year). Non-cash charges added back $2.6M of depreciation and amortization and $4.4M of share-based compensation. Working capital and other items added $19.6M. Capital expenditures of $1.4M left free cash flow of $4.7M.
Questions
What was Cerence's revenue in the fourth quarter fiscal 2024?
Cerence (CRNC) reported revenue of $54.8M for the fourth quarter fiscal 2024 (Q4 FY24), -32% from a year earlier and -22% from the quarter before.
Was Cerence profitable in the fourth quarter fiscal 2024?
Operating loss was $19.2M (-35.1% of revenue) and net loss $20.4M.
Source: Cerence 10-K on SEC EDGAR.