Cerence - Public Comps and Valuation Multiples

Cerence Overview

About Cerence

Cerence Inc is a United States-based software company. It is involved in developing mobility-based solutions for drivers and their cars. The customers include all automobile original equipment manufacturers, or OEMs, or their tier 1 suppliers. The company's revenue is generated by selling software licenses and cloud-connected services. Geographically, it derives a majority of its revenue from the United States and also has a presence in Other Americas; Germany; Other Europe, the Middle East, Africa; Japan, and Other Asia-Pacific.

Founded

2019

HQ

Employees

1.4K+

Website

cerence.com

Sectors

Automotive Software
Vertical AI Applications
B2B SaaS
Vertical SaaS
DeepTech
AutomotiveTech
Industry 4.0

Financials

LTM Revenue $247M

LTM EBITDA $43.1M

EV

$626M

Valuation Multiples

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Cerence Financials

As of September 2025, Cerence reported last 12-month revenue of $247M and EBITDA of $43.1M.

In the same period, Cerence generated $178M in LTM gross profit and -$24.2M in net income.

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Cerence P&L

In the most recent fiscal year, Cerence reported revenue of $332M and EBITDA of -$561M.

Cerence expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$247M	XXX	$332M	XXX	XXX	XXX
Gross Profit	$178M	XXX	$244M	XXX	XXX	XXX
Gross Margin	72%	XXX	74%	XXX	XXX	XXX
EBITDA	$43.1M	XXX	-$561M	XXX	XXX	XXX
EBITDA Margin	17%	XXX	-169%	XXX	XXX	XXX
EBIT	$22.4M	XXX	$46.3M	XXX	XXX	XXX
EBIT Margin	9%	XXX	14%	XXX	XXX	XXX
Net Profit	-$24.2M	XXX	-$588M	XXX	XXX	XXX
Net Margin	-10%	XXX	-177%	XXX	XXX	XXX
Net Debt	XXX	XXX	$160M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Cerence including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $247M. EBITDA for the last twelve months was $43.1M. In the most recent fiscal year, Cerence achieved $332M in revenue and -$561M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$247M	Analyst estimates available to subscribers	$332M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$178M	Analyst estimates available to subscribers	$244M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	72.2% gross margin	Analyst estimates available to subscribers	73.7% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$43.1M	Analyst estimates available to subscribers	-$561M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	17.5% EBITDA margin	Analyst estimates available to subscribers	-169.4% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$22.4M	Analyst estimates available to subscribers	$46.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	9.1% EBIT margin	Analyst estimates available to subscribers	14.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$24.2M	Analyst estimates available to subscribers	-$588M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-9.8% net profit margin	Analyst estimates available to subscribers	-177.4% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$160M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Cerence

This financial data table provides comprehensive performance metrics for Cerence, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Cerence generated $247M in revenue over the last twelve months.
The company achieved $43.1M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $178M.
Net income over the last twelve months reached -$24.2M.

Fiscal Year Performance

In the most recent fiscal year, Cerence reported $332M in total revenue.
Fiscal year EBITDA was -$561M.
The company maintained a gross profit margin of 73.7% in the most recent fiscal year.
EBITDA margin for the fiscal year was -169.4%.
Net profit margin reached -177.4% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Cerence. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Cerence Stock Performance

Cerence has current market cap of $488M, and EV of $626M.

Market Cap Evolution

Cerence Stock Data

As of October 17, 2025, Cerence's stock price is $11.

See Cerence trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$626M	$488M	XXX	XXX	XXX	XXX	$0.40

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Cerence Valuation Multiples

Cerence's trades at 2.0x EV/Revenue multiple, and -1.5x EV/EBITDA.

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Cerence Financial Valuation Multiples

As of October 17, 2025, Cerence has market cap of $488M and EV of $626M.

Equity research analysts estimate Cerence's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Cerence has a P/E ratio of -20.2x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$488M	XXX	$488M	XXX	XXX	XXX
EV (current)	$626M	XXX	$626M	XXX	XXX	XXX
EV/Revenue	2.5x	XXX	2.0x	XXX	XXX	XXX
EV/EBITDA	14.5x	XXX	-1.5x	XXX	XXX	XXX
EV/EBIT	27.9x	XXX	15.6x	XXX	XXX	XXX
EV/Gross Profit	3.5x	XXX	n/a	XXX	XXX	XXX
P/E	-20.2x	XXX	-1.1x	XXX	XXX	XXX
EV/FCF	17.1x	XXX	34.3x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Cerence Margins & Growth Rates

Cerence's last 12 month revenue growth is 4%

Cerence's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Cerence's rule of 40 is -43% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Cerence's rule of X is 29% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Cerence Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	4%	XXX	-9%	XXX	XXX	XXX
EBITDA Margin	17%	XXX	-132%	XXX	XXX	XXX
EBITDA Growth	9%	XXX	n/a	XXX	XXX	XXX
Rule of 40	-43%	XXX	-128%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	29%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	7%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	37%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	60%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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