Cerence (CRNC) financial statements
Cerence reported revenue of $252M in fiscal 2025, down 1.4% a year over 7 years.
Net income was -$19M and the operating margin -0.9%, against 13.3% in 2018.
Free cash flow was $47M, and the company returned $2M in net buybacks.
The diluted share count rose 19% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Cerence's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $277M | $303M | $331M | $387M | $328M | $294M | $332M | $252M |
| Cost of revenue | $83M | $99M | $108M | $101M | $97M | $95M | $87M | $69M |
| Gross profit | $194M | $204M | $223M | $286M | $231M | $199M | $244M | $183M |
| Research and development | $81M | $93M | $89M | $112M | $107M | $123M | $122M | $98M |
| Selling, general and admin | $50M | $62M | $83M | $96M | $74M | $85M | $74M | $71M |
| Operating income | $37M | $11M | $22M | $61M | -$184M | -$27M | -$580M | -$2M |
| Interest expense | — | — | $23M | $14M | $14M | $15M | $13M | $10M |
| Pre-tax income | $37M | $11M | -$23M | $48M | -$199M | -$36M | -$585M | -$9M |
| Income tax | $31M | -$89M | -$5M | $2M | $112M | $20M | $3M | $10M |
| Net income | $6M | $100M | -$18M | $46M | -$311M | -$56M | -$588M | -$19M |
| EPS (diluted) | $0.16 | $2.76 | -$0.50 | $1.17 | -$7.93 | -$1.40 | -$14.12 | -$0.43 |
| Diluted shares | 36M | 36M | 36M | 39M | 39M | 40M | 42M | 43M |
| Gross margin | 70.0% | 67.2% | 67.4% | 73.9% | 70.4% | 67.7% | 73.7% | 72.7% |
| Operating margin | 13.3% | 3.6% | 6.8% | 15.7% | -56.2% | -9.2% | -174.9% | -0.9% |
| Net margin | 2.1% | 33.1% | -5.5% | 11.9% | -94.8% | -19.1% | -177.4% | -7.4% |
Balance sheet
Fiscal years, from Cerence's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Receivables | — | $66M | $51M | $46M | $45M | $61M | $63M | $59M |
| Inventory | — | — | — | — | — | $500,000 | $1M | $1M |
| Total current assets | — | $92M | $250M | $287M | $228M | $226M | $266M | $191M |
| Property, plant and equipment | — | $20M | $30M | $32M | $38M | $34M | $30M | $36M |
| Goodwill | $1.1B | $1.1B | $1.1B | $1.1B | $891M | $900M | $297M | $299M |
| Total assets | — | $1.5B | $1.7B | $1.7B | $1.3B | $1.3B | $702M | $631M |
| Total current liabilities | — | $129M | $199M | $165M | $147M | $148M | $217M | $101M |
| Long-term debt | — | — | $267M | $265M | $259M | $276M | $195M | $200M |
| Total liabilities | — | $416M | $728M | $674M | $606M | $603M | $561M | $480M |
| Shareholders' equity | $993M | $1.1B | $960M | $1.0B | $713M | $695M | $141M | $151M |
Cash flow
Fiscal years, from Cerence's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $115M | $88M | $45M | $74M | -$2M | $7M | $17M | $61M |
| Capital spending | $7M | $5M | $19M | $12M | $17M | $5M | $5M | $14M |
| Free cash flow | $109M | $84M | $26M | $62M | -$20M | $2M | $12M | $47M |
| Stock-based compensation | $22M | $30M | $47M | $61M | $28M | $41M | $24M | $27M |
| Share buybacks (net) | — | — | -$9M | -$46M | -$49M | -$5M | -$10M | -$2M |
| Net borrowing | — | — | $276M | -$6M | -$6M | $12M | $0 | $0 |
| Free cash flow margin | 39.3% | 27.5% | 7.8% | 16.1% | -6.0% | 0.8% | 3.7% | 18.6% |
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Open CRNC in InvestinglyQuestions
What was Cerence's revenue in 2025?
$252M in fiscal 2025, from its 10-K filing.
How much free cash flow does Cerence generate?
$47M in fiscal 2025 (operating cash flow minus capital spending).
From Cerence's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.