Cerence Inc. (NASDAQ:CRNC) Q2 2024 Earnings Call Transcript

Daniel Tempesta: I’ll comment quickly and then I’ll let Stefan. I mean, given the sort of reset, I think it’s fair to say we should not be thinking about significant growth in ASPs just yet. So that’s the first item. We continue to be impacted. One of the ways that ASPs get better is when we don’t have the starter production delays because oftentimes we’re going from old program lower ASP to new program higher ASP and so those startup productions impact that. But for the time being, it’s relatively flat for this fiscal year.

Stefan Ortmanns: It’s relatively flat for this fiscal year. So overall with the new products we will see, or I believe we will see higher ASP because we are creating a complete solution for the new in cabin experience with the spectral conversational AI and going also beyond. So as we also said, so we will see the first launch in four weeks from now. That’s good. Secondly, also I mean, in the era of AI, alternative AI.

Assistant: So overall, that’s the path we are going here. And as Dan mentioned also in his script here, we are going for a transitioning for a cascading approach here. But nevertheless, for us the most important thing is also to drive innovation in the field of Generative AI and large language model. And the new platform, we call it, the new AI computing platform, goes far beyond automotive.

Nick Doyle: Thank you.

Operator: There are no questions. I will now turn the conference back over to Rich Yerganian, Vice President of Investor Relations, for closing remarks.

Rich Yerganian: Thank you very much and we will be at several conferences upcoming and look forward to speaking with you. Thank you.

Operator: Ladies and gentlemen, that concludes today’s call. Thank you all for joining. You may now disconnect.