Cerence Inc's New Business Included A Win-back for a Large Japanese OEM, a Program Extension for a Major North America OEM, and a Major Win In AIoT for a Wearable Product

Author: Benzinga Newsdesk | February 06, 2024 08:08am

Stefan Ortmanns, Chief Executive Officer at Cerence concluded, "We are excited by the future direction and capabilities of our AI technology, and, simultaneously, we remain keenly focused on operational excellence. While we had several one-time adjustments in the quarter, the largest being the previously disclosed acceleration of revenue associated with our ‘Legacy' Toyota contract, considering these factors, we still delivered a solid quarter. We also had several strategic wins in the quarter, including a win-back for a Japanese OEM, the extension of a program with a major North American OEM due to delays with their new supplier, additional Chinese OEMs as they expand overseas, and our largest piece of business to date for our non-transportation (AIoT) business."

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