Benzinga | Nov 16, 2020 08:47AM EST

Cerence Sees Q1 Sales $85M-$90M vs $82.1M Est., Sees FY21 Sales $360M-$380M

First Quarter Fiscal 2021 and Full Year Outlook

For the fiscal quarter ending December 31, 2020, revenue is expected to be in the range of $85M to $90M representing

First Quarter Fiscal 2021 and Full Year Outlook

For the fiscal quarter ending December 31, 2020, revenue is expected to be in the range of $85M to $90M representing a 13% increase at the midpoint compared to the same period in the prior year. Adjusted EBITDA is expected to be in the range of $31M to $35M. The adjusted EBITDA guidance excludes acquisition-related costs, amortization of acquired intangible assets, stock-based compensation, and restructuring and other costs. Cerence full-year revenue guidance is for revenue to be in the range of $360M to $380M representing a 12% increase at the midpoint compared to the prior year. Adjusted EBITDA for the full year is expected to be in the range of $122M to $135M. Additional details regarding guidance will be provided on the earnings call.