Cerence Inc.

Annual Trend FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Depreciation and amortization $25.8m $28.8m $30.0m $29.7m $23.9m $16.0m $10.6m $10.5m
Deferred tax provision (benefit) $12.5m ($101.2m) ($11.4m) ($4.4m) $97.3m $7.6m ($4.7m) $241k
Goodwill impairment $213.7m $0 $609.2m $0
Non-cash interest expense $5.3m $5.0m $5.3m $2.9m $6.1m $5.5m
(Gain) loss on debt extinguishment $19.3m $0 $1.3m $0 ($327k)
Net loss $5.9m $100.3m ($20.6m) $45.9m ($310.8m) ($56.3m) ($588.1m) ($18.7m)
Provision for credit loss reserve $366k $401k $704k ($415k) ($413k) $3.6m $3.5m $220k
Stock-based compensation $22.0m $29.7m $47.3m $60.6m $28.1m $40.8m $23.7m $27.4m
Unrealized foreign currency transaction gain ($1.7m) $5.7m ($3.4m) ($1.5m) ($2.6m)
Other, net ($606k) $6.1m ($3.4m) ($68k) $2.4m
Accounts receivable $8.5m $904k $16.1m $5.8m ($6.6m) ($17.0m) $11.8m ($1.4m)
Prepaid expenses and other assets ($3.0m) ($8.8m) ($30.3m) ($30.7m) ($33.8m) $28.2m ($12.5m) $32.1m
Deferred costs ($12.5m) $4.3m ($1.4m) $7.0m $4.7m $3.2m $4.8m $3.9m
Accounts payable ($6.3m) $10.1m ($2.4m) $3.4m $157k $5.8m ($12.6m) ($3.1m)
Accrued expenses and other liabilities $12.9m $6.3m $27.8m ($1.1m) ($1.5m) ($408k) $27.9m ($18.2m)
Deferred revenue $49.5m $17.7m ($35.6m) ($45.7m) ($28.3m) ($21.5m) ($61.0m) $23.3m
Purchases of marketable securities ($11.7m) ($42.5m) ($31.8m) ($18.0m) $0 $0
Sale and maturities of marketable securities $16.4m $37.2m $30.3m $11.1m $5.5m
Proceeds from revolving credit facility $24.7m $0 $0
Payments of revolver credit facility ($24.7m) $0 $0
Principal payment of lease liabilities arising from a finance lease ($136k) ($486k) ($415k) ($451k) ($392k) ($411k)
Net cash provided by operating activities $115.3m $88.1m $44.8m $74.4m ($2.1m) $7.5m $17.2m $61.2m
Capital expenditures ($6.5m) ($4.5m) ($19.0m) ($12.0m) ($17.4m) ($5.1m) ($5.0m) ($14.4m)
Other investing activities $1.1m $2.0m ($1.4m) ($1.7m) ($1.7m)
Net cash (used in) provided by investing activities ($86.3m) ($4.5m) ($30.7m) ($41.6m) ($10.6m) $5.8m $4.4m ($10.6m)
Proceeds from long-term debt, net of discount $547.7m $0 $210.0m $0 $0
Payments for long-term debt issuance costs ($6.4m) ($520k) ($17.2m) ($419k) $0
Principal payments of short-term debt $0 $0 ($87.1m)
Principal payments of long-term debt ($271.6m) ($6.3m) ($6.2m) ($198.4m) $0 $0
Proceeds from the issuance of common stock $1.3m $11.5m $36.1m $5.6m $10.9m $2.9m
Common stock repurchases for tax withholdings for net settlement of equity awards ($9.4m) ($45.8m) ($49.0m) ($4.9m) ($9.9m) ($2.4m)
Net cash (used in) provided by financing activities ($28.9m) ($83.6m) $121.6m ($41.5m) ($19.6m) ($5.3m) $225k ($87.0m)
Effect of foreign currency exchange rates on cash and cash equivalents $400k $1.1m ($1.3m) ($1.7m) ($1.5m) ($1.1m)
Net change in cash and cash equivalents $136.1m ($7.6m) ($33.6m) $6.3m $20.3m ($37.5m)
Cash and cash equivalents at beginning of period $136.1m $128.4m $94.8m $101.2m $121.5m $84.0m
Cash paid for interest $14.7m $9.6m $9.1m $11.6m $6.0m $5.6m
Cash paid for income taxes $18.4m $12.1m $2.2m $6.2m $12.3m $11.2m $10.2m $6.7m