$CRNC
Cerence Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023019744 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $61.66M $68.39M $86.28M
YoY Change -30.75% -20.73% -12.55%
Cost Of Revenue $20.94M $25.01M $24.31M
YoY Change -13.66% 2.91% -7.3%
Gross Profit $40.72M $43.38M $61.97M
YoY Change -37.15% -30.0% -14.45%
Gross Profit Margin 66.04% 63.43% 71.83%
Selling, General & Admin $17.30M $27.39M $22.11M
YoY Change -8.55% 23.9% -1.78%
% of Gross Profit 42.47% 63.15% 35.67%
Research & Development $30.20M $28.49M $29.98M
YoY Change 15.98% -4.94% 3.87%
% of Gross Profit 74.17% 65.69% 48.37%
Depreciation & Amortization $3.118M $5.025M $6.364M
YoY Change -40.94% -21.04% -12.82%
% of Gross Profit 7.66% 11.58% 10.27%
Operating Expenses $49.22M $64.00M $55.22M
YoY Change 2.94% 15.89% 1.21%
Operating Profit -$8.501M -$20.62M $6.754M
YoY Change -150.08% -405.26% -62.23%
Interest Expense $4.120M $4.003M -$3.277M
YoY Change -215.34% -222.15% -5.29%
% of Operating Profit -48.52%
Other Income/Expense, Net -$2.030M $1.074M -$34.00K
YoY Change 324.69% -3258.82% -100.97%
Pretax Income -$13.44M -$22.38M $2.969M
YoY Change -214.64% -853.89% -82.92%
Income Tax $3.000M $3.700M $3.400M
% Of Pretax Income 114.52%
Net Earnings -$16.46M -$26.09M -$476.0K
YoY Change -83.42% 5380.88% -104.26%
Net Earnings / Revenue -26.69% -38.15% -0.55%
Basic Earnings Per Share -$0.41 -$0.65 -$0.01
Diluted Earnings Per Share -$0.41 -$0.65 -$0.01
COMMON SHARES
Basic Shares Outstanding 40.31M 40.23M 39.19M
Diluted Shares Outstanding 40.32M 40.22M 39.19M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $102.8M $107.0M $141.6M
YoY Change -19.26% -24.42% 3.68%
Cash & Equivalents $86.10M $95.38M $111.8M
Short-Term Investments $16.72M $11.66M $29.81M
Other Short-Term Assets $59.33M $63.37M $76.34M
YoY Change -8.87% -16.99% 263.53%
Inventory
Prepaid Expenses
Receivables $56.98M $61.45M $48.03M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $219.1M $231.9M $266.0M
YoY Change -14.12% -12.83% 4.74%
LONG-TERM ASSETS
Property, Plant & Equipment $48.37M $50.93M $55.84M
YoY Change -11.52% -8.79% 14.66%
Goodwill $904.9M $904.1M $1.124B
YoY Change -19.54% -0.61%
Intangibles
YoY Change
Long-Term Investments $13.19M $15.68M $4.457M
YoY Change 50.2% 251.72%
Other Assets $48.85M $52.04M $236.7M
YoY Change -62.74% -78.02% 1128.14%
Total Long-Term Assets $1.093B $1.104B $1.437B
YoY Change -17.3% -23.18% 0.04%
TOTAL ASSETS
Total Short-Term Assets $219.1M $231.9M $266.0M
Total Long-Term Assets $1.093B $1.104B $1.437B
Total Assets $1.312B $1.335B $1.703B
YoY Change -16.78% -21.56% 0.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.12M $18.99M $18.17M
YoY Change 4.87% 4.55% 353.9%
Accrued Expenses $51.92M $58.31M $51.19M
YoY Change -3.95% 13.92% -14.97%
Deferred Revenue $75.30M $75.77M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $24.70M $12.50M $7.813M
YoY Change 151.99% 59.99% 25.01%
Total Short-Term Liabilities $168.4M $166.0M $156.5M
YoY Change 9.09% 6.05% -2.98%
LONG-TERM LIABILITIES
Long-Term Debt $254.7M $264.7M $263.0M
YoY Change -2.82% 0.64% -1.01%
Other Long-Term Liabilities $23.91M $23.98M $225.9M
YoY Change -88.63% -89.38% 561.56%
Total Long-Term Liabilities $278.6M $288.7M $263.0M
YoY Change -41.01% 9.76% -12.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $168.4M $166.0M $156.5M
Total Long-Term Liabilities $278.6M $288.7M $263.0M
Total Liabilities $609.4M $626.0M $646.3M
YoY Change -2.77% -3.14% -5.85%
SHAREHOLDERS EQUITY
Retained Earnings -$322.1M -$305.7M
YoY Change
Common Stock $1.050B $1.038B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $702.8M $709.4M $1.056B
YoY Change
Total Liabilities & Shareholders Equity $1.312B $1.335B $1.703B
YoY Change -16.78% -21.56% 0.74%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$16.46M -$26.09M -$476.0K
YoY Change -83.42% 5380.88% -104.26%
Depreciation, Depletion And Amortization $3.118M $5.025M $6.364M
YoY Change -40.94% -21.04% -12.82%
Cash From Operating Activities -$8.197M $6.555M $1.598M
YoY Change 108.68% 310.2% -90.14%
INVESTING ACTIVITIES
Capital Expenditures $1.520M $1.394M -$5.575M
YoY Change -134.29% -125.0% 99.11%
Acquisitions
YoY Change
Other Investing Activities -$3.152M $2.103M $1.348M
YoY Change -145.15% 56.01% -158.61%
Cash From Investing Activities -$4.672M $709.0K -$4.227M
YoY Change -283.36% -116.77% -17.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.417M -2.392M -2.184M
YoY Change -366.24% 9.52% -0.73%
NET CHANGE
Cash From Operating Activities -8.197M 6.555M 1.598M
Cash From Investing Activities -4.672M 709.0K -4.227M
Cash From Financing Activities 4.417M -2.392M -2.184M
Net Change In Cash -8.452M 4.872M -4.813M
YoY Change 178.12% -201.23% -154.08%
FREE CASH FLOW
Cash From Operating Activities -$8.197M $6.555M $1.598M
Capital Expenditures $1.520M $1.394M -$5.575M
Free Cash Flow -$9.717M $5.161M $7.173M
YoY Change -2024.16% -28.05% -62.25%

Facts In Submission

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Note 1. Business Overview</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Business</span></p><p style="text-indent:5.867%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Cerence Inc. (referred to in this Quarterly Report on Form 10-Q as “we,” “our,” “us,” “ourselves,” the “Company” or “Cerence”) is a global, premier provider of AI-powered assistants and innovations for connected and autonomous vehicles. Our customers include all major automobile original equipment manufacturers (“OEMs”), or their tier 1 suppliers worldwide. We deliver our solutions on a white-label basis, enabling our customers to deliver customized virtual assistants with unique, branded personalities and ultimately strengthening the bond between automobile brands and end users. We generate revenue primarily by selling software licenses and cloud-connected services. In addition, we generate professional services revenue from our work with OEMs and suppliers during the design, development and deployment phases of the vehicle model lifecycle and through maintenance and enhancement projects.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">COVID-19 Update</span></p><p style="text-indent:5.867%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">In March 2020, the World Health Organization characterized COVID-19 as a pandemic. In an effort to contain COVID-19 or slow its spread, governments around the world have enacted various measures, some of which have been subsequently rescinded, modified or reinstated, including orders to close all businesses not deemed “essential,” isolate residents to their homes or places of residence, and practice social distancing.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:5.867%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">We have taken numerous steps in our approach to addressing the COVID-19 pandemic, as described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022. We continue to closely monitor ongoing developments in connection with the COVID-19 pandemic and its impact on our business.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:5.867%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The full extent to which the ongoing COVID-19 pandemic adversely affects our financial performance will depend on future developments, many of which are outside of our control, are highly uncertain and cannot be predicted, including, but not limited to: the duration and scope of the pandemic; its severity; the emergence of new variants of the virus, such as Omicron; the development and availability of effective treatments and vaccines; the speed at which vaccines are administered; and how quickly and to what extent normal economic and operating conditions can resume.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:5.867%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The COVID-19 pandemic has resulted in, and may continue to result in, additional governmental restrictions and regulations, which has adversely affected, and may continue to adversely affect our business and financial results. </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">We have seen, and anticipate that we will continue to see, supply chain challenges in the automotive industry related to semiconductor devices that are used in automobiles. The current macroeconomic conditions have also increased competition for qualified employees in our industry, particularly for members of our professional service teams, and we, along with automotive OEMs, face significant competition in hiring and retaining them. In addition, a recession, depression or other sustained adverse market impact resulting from COVID-19 or other market factors could materially and adversely affect our business, our access to needed capital and liquidity, and the value of our common stock. Even after the COVID-19 pandemic has lessened or subsided, we may continue to experience adverse impacts on our business and financial performance as a result of its global economic impact.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
us-gaap Use Of Estimates
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:5.867%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The financial statements are prepared in accordance with GAAP, which requires management to make estimates and assumptions. These estimates, judgments and assumptions can affect the reported amounts in the financial statements and the footnotes thereto. Actual results could differ materially from these estimates.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:5.867%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">On an ongoing basis, we evaluate our estimates, assumptions and judgments. Significant estimates inherent to the preparation of financial statements include: revenue recognition; allowance for credit losses; accounting for deferred costs; accounting for internally developed software; the valuation of goodwill and intangible assets; accounting for business combinations; accounting for stock-based compensation; accounting for income taxes; accounting for leases; accounting for convertible debt; and loss contingencies. We base our estimates on historical experience, market participant fair value considerations, projected future cash flows, and various other factors that are believed to be reasonable under the circumstances. Actual amounts could differ significantly from these estimates.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Risk</span></p><p style="text-indent:5.867%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject us to significant concentrations of credit risk primarily consist of trade accounts receivable. We perfo</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">rm ongoing credit evaluations of our customers’ financial condition and limit the amount of credit extended when deemed appropriate. </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Two</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customers accounted for </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">12.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% and </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10.5</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">%, respectively, of our Accounts receivable, net balance at </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">March 31, 2023. </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">One</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> customer accounte</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">d for </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">17.4</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% o</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">f our Accounts receivable, net balance at September 30, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">.</span></p>
CY2022Q3 crnc Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLoss
-371000
crnc Accounts Receivable And Contract With Customer Assets Provision For Credit Loss
AccountsReceivableAndContractWithCustomerAssetsProvisionForCreditLoss
3626000
crnc Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss Effect Of Foreign Currency Translation
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLossEffectOfForeignCurrencyTranslation
140000
CY2023Q1 crnc Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLoss
-4137000
CY2023Q1 us-gaap Change In Accounting Principle Accounting Standards Update Adoption Date
ChangeInAccountingPrincipleAccountingStandardsUpdateAdoptionDate
2022-10-01
CY2022Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
54452000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
270430000
CY2022Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1015171000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-277408000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
68393000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
86280000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
152051000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
180706000
CY2022Q1 crnc Minimum Purchase Commitment Deals Of Revenue
MinimumPurchaseCommitmentDealsOfRevenue
19900000
crnc Minimum Purchase Commitment Deals Of Revenue
MinimumPurchaseCommitmentDealsOfRevenue
40100000
crnc Distribution Period
DistributionPeriod
P5Y
CY2023Q1 crnc Contract Acquisition Costs
ContractAcquisitionCosts
8400000
CY2022 crnc Contract Acquisition Costs
ContractAcquisitionCosts
8300000
CY2023Q1 crnc Contract Acquisition Cost Amortization
ContractAcquisitionCostAmortization
800000
CY2022Q1 crnc Contract Acquisition Cost Amortization
ContractAcquisitionCostAmortization
500000
crnc Contract Acquisition Cost Amortization
ContractAcquisitionCostAmortization
1600000
crnc Contract Acquisition Cost Amortization
ContractAcquisitionCostAmortization
1100000
crnc Contract Acquisition Cost Impairment
ContractAcquisitionCostImpairment
0
CY2023Q1 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
2500000
CY2022Q1 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
2700000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
5200000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
5500000
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2022Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
76292000
crnc Contract With Customer Asset Amount Recognized But Unbilled
ContractWithCustomerAssetAmountRecognizedButUnbilled
-21955000
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
-33375000
crnc Contract With Customer Asset Effect Of Foreign Currency Translation
ContractWithCustomerAssetEffectOfForeignCurrencyTranslation
6591000
CY2023Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
71463000
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
238634000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
52377000
crnc Contract With Customer Liability Effect Of Foreign Currency Translation
ContractWithCustomerLiabilityEffectOfForeignCurrencyTranslation
7743000
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
236217000
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
155413000
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
141968000
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
24187000
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
321568000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-26089000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-476000
us-gaap Net Income Loss
NetIncomeLoss
-28247000
us-gaap Net Income Loss
NetIncomeLoss
18568000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40219000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39189000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40088000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39013000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
573000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40219000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39189000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40088000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39586000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.65
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.70
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.48
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.65
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.70
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.47
CY2022Q1 crnc Finance Lease Payments
FinanceLeasePayments
100000
crnc Finance Lease Payments
FinanceLeasePayments
300000
CY2023Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
96540000
CY2023Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
66534000
CY2023Q1 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
27337000
CY2022Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
94511000
CY2022Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
60610000
CY2022Q3 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
31901000
CY2023Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
200000
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
300000
CY2022Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-100000
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-200000
CY2022Q3 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
3100000
CY2023Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
3100000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022Q3 us-gaap Goodwill
Goodwill
890802000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
13248000
CY2023Q1 us-gaap Goodwill
Goodwill
904050000
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
197665000
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
192366000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5299000
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
193098000
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
183398000
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9700000
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2500000
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4000000.0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5000000.0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9100000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1300000
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
Some of our leases include options to extend or terminate the lease prior to the end of the agreed upon lease term. For purposes of calculating lease liabilities, lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such options.
us-gaap Lessee Operating Lease Option To Terminate
LesseeOperatingLeaseOptionToTerminate
Some of our leases include options to extend or terminate the lease prior to the end of the agreed upon lease term. For purposes of calculating lease liabilities, lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such options.
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
us-gaap Lessee Operating Lease Existence Of Option To Terminate
LesseeOperatingLeaseExistenceOfOptionToTerminate
true
crnc Finance Lease Payments
FinanceLeasePayments
300000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P40M24D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P46M15D
CY2023Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P30M15D
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P35M18D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.041
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.037
CY2023Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.044
CY2022Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.044
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
108000
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
109000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
216000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
218000
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
10000
CY2022Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
13000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
20000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
27000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1645000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1949000
us-gaap Operating Lease Cost
OperatingLeaseCost
3331000
us-gaap Operating Lease Cost
OperatingLeaseCost
3507000
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
808000
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
812000
us-gaap Variable Lease Cost
VariableLeaseCost
1499000
us-gaap Variable Lease Cost
VariableLeaseCost
1689000
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
48000
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
47000
us-gaap Sublease Income
SubleaseIncome
93000
us-gaap Sublease Income
SubleaseIncome
95000
CY2023Q1 us-gaap Lease Cost
LeaseCost
2523000
CY2022Q1 us-gaap Lease Cost
LeaseCost
2836000
us-gaap Lease Cost
LeaseCost
4973000
us-gaap Lease Cost
LeaseCost
5346000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1600000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1800000
us-gaap Operating Lease Payments
OperatingLeasePayments
3400000
us-gaap Operating Lease Payments
OperatingLeasePayments
3400000
CY2023Q1 crnc Finance Lease Payments
FinanceLeasePayments
200000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
400000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3900000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2900000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7000000.0
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3372000
CY2023Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
207000
CY2023Q1 crnc Lessee Lease Liability Payment Due Remaining Fiscal Year
LesseeLeaseLiabilityPaymentDueRemainingFiscalYear
3579000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6102000
CY2023Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
417000
CY2023Q1 crnc Lessee Lease Liability Payment Due Next Twelve Months
LesseeLeaseLiabilityPaymentDueNextTwelveMonths
6519000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4235000
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
362000
CY2023Q1 crnc Lessee Lease Liability Payment Due Year Two
LesseeLeaseLiabilityPaymentDueYearTwo
4597000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1980000
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
53000
CY2023Q1 crnc Lessee Lease Liability Payment Due Year Three
LesseeLeaseLiabilityPaymentDueYearThree
2033000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1524000
CY2023Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0
CY2023Q1 crnc Lessee Lease Liability Payment Due Year Four
LesseeLeaseLiabilityPaymentDueYearFour
1524000
CY2023Q1 crnc Lessee Operating Lease Liability Payment Due After Year Four
LesseeOperatingLeaseLiabilityPaymentDueAfterYearFour
825000
CY2023Q1 crnc Finance Lease Liability Payment Due After Year Four
FinanceLeaseLiabilityPaymentDueAfterYearFour
0
CY2023Q1 crnc Lessee Lease Liability Payment Due After Year Four
LesseeLeaseLiabilityPaymentDueAfterYearFour
825000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
18038000
CY2023Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1039000
CY2023Q1 crnc Lessee Lease Liability Payment Due
LesseeLeaseLiabilityPaymentDue
19077000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1086000
CY2023Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
45000
CY2023Q1 crnc Lessee Leases Liability Undiscounted Excess Amount
LesseeLeasesLiabilityUndiscountedExcessAmount
1131000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
16952000
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
994000
CY2023Q1 crnc Leases Liability
LeasesLiability
17946000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6003000
CY2023Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
387000
CY2023Q1 crnc Leases Liability Current
LeasesLiabilityCurrent
6390000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10949000
CY2023Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
607000
CY2023Q1 crnc Leases Liability Noncurrent
LeasesLiabilityNoncurrent
11556000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
16952000
CY2023Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
994000
CY2023Q1 crnc Leases Liability
LeasesLiability
17946000
CY2022Q1 crnc Restructuring Charges Reversal
RestructuringChargesReversal
474000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
9903000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
5389000
CY2023Q1 crnc Restructuring Charges Reversal
RestructuringChargesReversal
5700000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
9900000
CY2022Q1 crnc Restructuring Charges Reversal
RestructuringChargesReversal
500000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
22189000
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
19710000
CY2023Q1 crnc Sales And Other Taxes Payable Current
SalesAndOtherTaxesPayableCurrent
7905000
CY2022Q3 crnc Sales And Other Taxes Payable Current
SalesAndOtherTaxesPayableCurrent
4598000
CY2023Q1 crnc Accrued Cost Of Revenue Related Liabilities Current
AccruedCostOfRevenueRelatedLiabilitiesCurrent
4470000
CY2022Q3 crnc Accrued Cost Of Revenue Related Liabilities Current
AccruedCostOfRevenueRelatedLiabilitiesCurrent
4257000
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3808000
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3866000
CY2023Q1 us-gaap Interest Payable Current
InterestPayableCurrent
1818000
CY2022Q3 us-gaap Interest Payable Current
InterestPayableCurrent
1828000
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
12508000
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
13731000
CY2023Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
52698000
CY2022Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
47990000
CY2022Q3 us-gaap Restructuring Reserve
RestructuringReserve
5154000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
9903000
crnc Restructuring Reserve Settled Without Cash Adjustment
RestructuringReserveSettledWithoutCashAdjustment
327000
us-gaap Payments For Restructuring
PaymentsForRestructuring
9598000
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
6000
CY2023Q1 us-gaap Restructuring Reserve
RestructuringReserve
5138000
CY2023Q1 crnc Restructuring Charges Reversal
RestructuringChargesReversal
5714000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
5400000
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
6350000
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Other Increases Decreases In Period Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOtherIncreasesDecreasesInPeriodDescription
The shares available for issuance will automatically increase on January 1st of each year, by the lesser of (A) 3% of the number of shares of Common Stock outstanding as of the close of business on the immediately preceding December 31st; and (B) the number of shares of Common Stock determined by the Board on or prior to such date for such year.
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.03
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12355000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10926000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24827000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16767000
CY2023Q1 us-gaap Loss Contingency Lawsuit Filing Date
LossContingencyLawsuitFilingDate
March 24, 2023
CY2023Q1 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
5000
crnc Indemnification Period For Former Officers And Members Of Boards Of Directors
IndemnificationPeriodForFormerOfficersAndMembersOfBoardsOfDirectors
P6Y
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-15919000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-3009000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-9866000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
14199000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-6464000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
5978000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-13425000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
8113000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-22383000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2969000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-23291000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
22312000
CY2023Q1 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
618000
CY2022Q1 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
233000
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
369000
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
1670000
CY2023Q1 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
3088000
CY2022Q1 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
3212000
us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
4587000
us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
2074000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3706000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3445000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4956000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3744000
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.166
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.160
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.213
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.168
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.166
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.160
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3700000
CY2023Q1 crnc Change In Income Tax Expense Benefit
ChangeInIncomeTaxExpenseBenefit
300000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3400000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.213
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.168
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5000000.0
crnc Change In Income Tax Expense Benefit
ChangeInIncomeTaxExpenseBenefit
1300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3700000
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
277187000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
270374000
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
12500000
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
10938000
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
264687000
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
259436000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
6250000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
12500000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
262500000
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
281250000
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
4063000
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
12500000
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
264687000

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crnc-20230331_cal.xml Edgar Link unprocessable
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crnc-20230331.htm Edgar Link pending
crnc-20230331.xsd Edgar Link pending
crnc-ex10_1.htm Edgar Link pending
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