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Cerence ™ Exhibit 99.1 Press Release February 8 , 2021 Cerence Announces Record First Quarter 2021 Results Cerence First Quarter Highlights • • • Won back a major European OEM's next generation infotainment design for cars starting production in 2023 First major bookings for new applications including Cerence Pay Revenue grew by 23 % compared to the same period last fiscal year , setting a new quarterly record • Exceeded company quarterly guidance on all GAAP and non - GAAP financial metrics • Continued to deliver strong GAAP Net Income and Adjusted EBITDA performance • Growth in billings per car continues its upward trend BURLINGTON , Mass . , February 8 , 2021 – Cerence Inc. ( NASDAQ : CRNC ) , AI for a world in motion , today reported its first fiscal quarter 2021 results for the quarter ended December 31 , 2020 . Results Summary ( 1 ) ( in millions , except per share data ) GAAP Revenue GAAP Gross Margin Non - GAAP Gross Margin GAAP Operating Margin Non - GAAP Operating Margin GAAP Net Income ( loss ) Non - GAAP Net Income Adjusted EBITDA Adjusted EBITDA Margin GAAP Net Income ( loss ) per Share - diluted Non - GAAP Net Income per Share - diluted Three Months Ended December 31 , 2020 2019 $ 95.0 $ 77.5 71.7 % 66.5 % 75.3 % 70.8 % 21.3 % -2.7 % 39.7 % 25.4 % $ 21.6 $ 24.6 40.3 SSS ( 11.8 ) $ 10.3 21.8 42.4 % 28.1 % $ 0.54 $ ( 0.33 ) $ 0.59 $ 0.29 ( 1 ) Please refer to the " Discussion of Non - GAAP Financial Measures " and " Reconciliations of GAAP Financial Measures to Non - GAAP Financial Measures " included elsewhere in this release for more information regarding our use of non - GAAP financial measures . Sanjay Dhawan , Chief Executive Officer of Cerence , stated , “ We had a stronger than expected start to the fiscal year as auto production continued to recover from the impact of Covid - 19 . Our 23 % revenue growth , compared to the same quarter last year , reflects our strong competitive position enabled by our continued focus on innovation and speed of execution . " Dhawan continued , “ We received multiple contract awards for our new applications in the quarter . We won back a major European OEM for both our core technology and new connected services and applications . This was a significant win that will start production in 2023. Another highlight was our agreement with Xevo , a Lear Company , to supply Cerence Pay conversational - AI powered voice technology to Xevo Marketplace Cerence . All rights reserved