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cerence ™ Exhibit 99.1 Press Release May 10 , 2021 Cerence Announces Record Second Quarter 2021 Results Cerence Second Quarter Highlights • • Set new quarterly record of $ 98.7M in revenue , up 14 % compared to the same quarter last fiscal year Exceeded company quarterly guidance on all GAAP and non - GAAP financial metrics Continued to deliver strong GAAP Net Income of $ 11.2M , and Adjusted EBITDA of $ 39.3M Raised full year revenue and profitability guidance • Strong bookings for new Applications products • Completed strategic wins in the two - wheeler market BURLINGTON , Mass . , May 10 , 2021 – Cerence Inc. ( NASDAQ : CRNC ) , AI for a world in motion , today reported its second fiscal quarter 2021 results for the quarter ended March 31 , 2021 . Results Summary ( 1 ) ( in millions , except per share data ) Three Months Ended March 31 , Six Months Ended March 31 , 2021 2020 2021 2020 GAAP Revenue $ 98.7 $ 86.8 $ 192.3 $ 164.5 GAAP Gross Margin 73.4 % 66.9 % 72.4 % 66.8 % Non - GAAP Gross Margin 77.0 % 70.2 % 76.0 % 70.5 % GAAP Operating Margin 17.6 % 14.2 % 18.1 % 6.4 % Non - GAAP Operating Margin 37.6 % 31.3 % 38.2 % 28.6 % GAAP Net Income Non - GAAP Net Income Adjusted EBITDA SASASA $ 11.2 $ 29.1 39.3 $ SASS $ 12.8 $ 32.1 $ $ 16.4 $ 52.7 29.4 $ 78.3 $ SASASA 1.5 $ 26.9 51.4 Adjusted EBITDA Margin 39.9 % GAAP Net Income per Share - diluted Non - GAAP Net Income per Share - diluted SS $ $ 0.69 0.28 $ $ SAS 33.8 % 0.34 $ 0.44 $ 40.7 % 31.2 % 0.82 1.25 SA S $ 0.04 $ 0.73 ( 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 , “ Once again our results were ahead of expectations as we delivered the highest revenue for any quarter in the company's history . Our core license business , in particular , performed better than expected as the global auto recovery takes shape and as our conversational AI and connected services expand into more car makes and models . We are proud to deliver both revenue growth and strong profitability . ” Dhawan concluded , “ Our first half bookings included more than $ 30M for our new Applications . We won every competitive decision in the quarter including key strategic wins in the two - wheeler market with one of the most prestigious and fastest growing two - wheeler companies in China , and a well - known domestic Cerence . All rights reserved