Cerence, Inc. (NASDAQ:CRNC) shares rocketed higher after the company released its fourth-quarter earnings report after Wednesday's closing bell, beating estimates on the top and bottom lines.
The company also raised its first quarter revenue guidance well above analyst estimates.
Here's a look at the details in the report.
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The Details: Cerence reported quarterly losses of 24 cents per share, which beat the analyst estimate for losses of 45 cents.
Quarterly revenue clocked in at $60.63 million, which beat the consensus estimate of $55.25 million.
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“As I reflect on my first full fiscal year as Cerence AI’s CEO, I’m incredibly proud of what our team has accomplished and excited by the road ahead,” said Brian Krzanich, CEO of Cerence AI.
“We strengthened the financial and operational foundation of the Company and increased positive cash flow generation. We made significant progress with our Cerence xUI platform, including meeting all our technology milestones while driving strong customer interest and early adoption,” Krzanich added.
Outlook: Cerence sees first-quarter revenue in a range of $110 million to $120 million, versus the $61.46 million analyst estimate.
The company lowered its fiscal 2026 revenue outlook to a range of $300 million to $320 million, versus the $246.38 million estimate.
CRNC Stock Price: According to data from Benzinga Pro, Cerence stock was up 28.66% at $10.19 in Wednesday's extended trading.
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