Cerence Inc. (NASDAQ:CRNC) Q4 2023 Earnings Call Transcript

Jeffrey Osborne: Got it. My last one is just the delayed SOPs of VW and others. Have you guys quantified what the impact was to fiscal ’23 results or the new guidance for ’24?

Stefan Ortmanns: No. No, not specifically for each OEM.

Jeffrey Osborne: Is there a way of doing that in aggregate or is it not a substantial number?

Stefan Ortmanns: I think it’s just — there’s a whole number of factors against the numbers that we presented last November to the numbers that we presented now. And it’s all of the updates associated with the bookings that we achieved in FY ’23, the new production schedules associated with all of the OEMs, the opportunities that we need to go drive, which from a visibility standpoint, relatively small amount of new deals and new that we need to achieve these plans. And then that’s why we have committed to kind of update the five-year backlog and the visibility twice a year to provide better insights into how we’re going to achieve these numbers going forward.

Jeffrey Osborne: Thanks. Appreciate it.

Operator: Thank you. There are no further questions. I’d like to turn the call back over to Richard Yerganian for closing remarks.

Rich Yerganian: Thank you, Michelle, and thank you all for joining us on today’s call. Apologizing for going a little bit late, but we had a lot of information to cover, and we hope to see and talk with you soon at various upcoming conferences and meeting [Technical Difficulty], especially at CES. Thank you. Have a good day.

Operator: Thank you. This does conclude the program and you may now disconnect. Everyone, have a great day.