The AI software firm reported $69.6M in revenue, below expectations, while adjusted EBITDA surged 50% year-over-year to $13.5 million.
Cerence posted third-quarter GAAP earnings per share of $0.03, matching analyst estimates, but revenue of $69.6 million fell short by $0.45 million. The company’s adjusted EBITDA rose 50% year-over-year to $13.5 million, exceeding guidance.
Revenue grew 11.9% from the same period last year, driven by a more than 20% increase in Connected Services revenue. The earnings beat contrasts with the revenue miss, highlighting mixed performance.
The company also provided updated fiscal year guidance and fourth-quarter outlook, though immediate market reaction was not detailed.