Takeaways From Our CEO/CFO Fireside Chat (xUI, Non-Auto, IP Settlement Outlook)

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Takeaways From Our CEO/CFO Fireside Chat (xUI, Non-Auto, IP Settlement Outlook)

Automobiles & Components: Automobile Components

Cerence

TD SECURITIES (USA) LLC COMPANY UPDATE

June 17, 2026

Price: $10.00 (06/17/2026) Takeaways From Our CEO/CFO Fireside Chat

Price Target: $12.00 (xUI, Non-Auto, IP Settlement Outlook)

HOLD (2)

ESG SCORE: 64/100

Itay Michaeli THE TD COWEN INSIGHT

646 562 1412

We hosted a virtual fireside chat earlier today with Cerence President & CEO, Brian Krzanich;

itay.michaeli@tdsecurities.com

and EVP, CFO, Tony Rodriquez. We thought management conveyed a confident tone around

Justin Barell the state of the business. We walked away with a greater appreciation of the company's core

646 562 1377 growth algorithm and a more upbeat view around the H2 catalyst path & emerging non-auto

justin.barell@tdsecurities.com

opportunities, including robotics.

Selina Liu

646 562 1449 CEO/CFO Fireside Chat Takeaways:

selina.liu2@tdsecurities.com

■Management reiterated that next year's core revenue growth should track to the high

Key Data single-digit / low double-digit range, driven by xUI launches and higher price-per-unit (PPU).

Symbol NASDAQ: CRNC The BYD xUI launch is going well so far.

Beta: 2.99

■Encouragingly, management noted seeing lengthier contract terms. Recent wins have

52-Week Range: $13.52-$5.96

begun spanning 7-10 year durations vs. the typical 3-4 years. Such a shift could lead to

Market Cap: $451.9MM

higher bookings and possible future FCF growth upside, while also enhancing Cerence's

Net Debt (MM): $79.3

competitive position.

Cash/Share: $1.60

Dil. Shares Out (MM): 46.9 ■Management continues to see strong customer interest for xUI, which carries a higher

Enterprise Value PPU vs. current offerings. Demand for edge compute software solutions (vs.