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cerence ™ Cerence Announces Strong Third Quarter 2021 Results Cerence Third Quarter Highlights Exhibit 99.1 Press Release August 9 , 2021 • Revenue grew 29 % year - over - year • • • Exceeded company quarterly guidance on key GAAP and non - GAAP profitability metrics Increased FY24 revenue Target from $ 600M to $ 700M , and improved key profitability metrics Record number of auto SOPs ( Start Of Production ) from over 15 auto OEMs Strategic collaborations announced in the quarter with Sirius XM , Visteon and Harman BURLINGTON , Mass . , August 9 , 2021 Cerence Inc. ( NASDAQ : CRNC ) , AI for a world in motion , today reported its third fiscal quarter 2021 results for the quarter ended June 30 , 2021 . Results Summary ( 1 ) ( in millions , except per share data ) Three Months Ended June 30 , Nine Months Ended June 30 , 2021 2020 2021 2020 GAAP Revenue GAAP Gross Margin Non - GAAP Gross Margin GAAP Operating Margin Non - GAAP Operating Margin GAAP Net Income ( Loss ) $ 96.8 $ 75.4 % 75.2 $ 289.1 $ 239.7 63.3 % 73.4 % 65.7 % 79.1 % 68.9 % 77.0 % 70.0 % 15.4 % -5.7 % 17.2 % 2.6 % 37.7 % 28.7 % 38.0 % 28.6 % Non - GAAP Net Income Adjusted EBITDA SASASA $ 5.8 $ 26.1 $ 38.7 SSS ( 28.1 ) $ 12.4 $ 24.2 $ SSS $ 37.9 $ 78.8 117.1 SASASA ( 26.5 ) $ 39.3 $ 75.6 Adjusted EBITDA Margin 40.0 % 32.1 % 40.5 % 31.5 % GAAP Net Income ( Loss ) per Share - diluted Non - GAAP Net Income per Share - diluted SASA $ 0.15 $ 0.62 EA GA $ ( 0.77 ) $ 0.97 $ 0.32 $ 1.87 SASA $ ( 0.73 ) $ 1.05 ( 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 , “ According to IHS Markit , calendar Q2 is expected to be the quarter with the most disruption due to the semiconductor shortage yet we delivered 29 % revenue growth over the prior year period . This growth is testament to our breadth of customers , products and services . With a record of more than 60 SOPs in the quarter from more than 15 different auto makers , and the Cerence . All rights reserved