$CRNC
Cerence Inc.

2023 Q3 Form 10-Q Financial Statement

#000095017023040401 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $80.76M $61.66M $89.04M
YoY Change 38.9% -30.75% -8.02%
Cost Of Revenue $23.03M $20.94M $24.25M
YoY Change -5.56% -13.66% 1.75%
Gross Profit $57.74M $40.72M $64.79M
YoY Change 71.01% -37.15% -11.21%
Gross Profit Margin 71.49% 66.04% 72.76%
Selling, General & Admin $17.30M $17.30M $18.91M
YoY Change -10.48% -8.55% -16.71%
% of Gross Profit 29.96% 42.47% 29.19%
Research & Development $35.14M $30.20M $26.04M
YoY Change 38.86% 15.98% -14.26%
% of Gross Profit 60.87% 74.17% 40.19%
Depreciation & Amortization $2.838M $3.118M $5.279M
YoY Change -44.2% -40.94% -28.43%
% of Gross Profit 4.92% 7.66% 8.15%
Operating Expenses $53.00M $49.22M $47.82M
YoY Change 12.77% 2.94% -17.58%
Operating Profit $4.738M -$8.501M $16.97M
YoY Change -135.8% -150.08% 13.55%
Interest Expense -$1.901M $4.120M -$3.572M
YoY Change -40.61% -215.34% 9.57%
% of Operating Profit -40.12% -21.04%
Other Income/Expense, Net -$1.649M -$2.030M -$478.0K
YoY Change 546.67% 324.69% -376.3%
Pretax Income $346.0K -$13.44M $11.73M
YoY Change -100.15% -214.64% 139.57%
Income Tax $11.90M $3.000M $111.0M
% Of Pretax Income 3438.73% 946.48%
Net Earnings -$11.55M -$16.46M -$99.27M
YoY Change -94.98% -83.42% -1812.09%
Net Earnings / Revenue -14.3% -26.69% -111.48%
Basic Earnings Per Share -$0.41 -$2.53
Diluted Earnings Per Share -$0.29 -$0.41 -$2.525M
COMMON SHARES
Basic Shares Outstanding 40.33M 40.31M 39.31M
Diluted Shares Outstanding 40.32M 39.31M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $110.4M $102.8M $127.3M
YoY Change -4.17% -19.26% -15.07%
Cash & Equivalents $101.2M $86.10M $108.5M
Short-Term Investments $9.211M $16.72M $18.89M
Other Short-Term Assets $54.09M $59.33M $65.11M
YoY Change -19.6% -8.87% 217.46%
Inventory $500.0K
Prepaid Expenses
Receivables $61.30M $56.98M $62.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $225.7M $219.1M $255.2M
YoY Change -0.79% -14.12% -6.1%
LONG-TERM ASSETS
Property, Plant & Equipment $45.97M $48.37M $54.67M
YoY Change -12.28% -11.52% 14.95%
Goodwill $900.3M $904.9M
YoY Change 1.07%
Intangibles
YoY Change
Long-Term Investments $10.61M $13.19M $8.784M
YoY Change -8.43% 50.2% 19.54%
Other Assets $44.17M $48.85M $131.1M
YoY Change -15.13% -62.74% 544.25%
Total Long-Term Assets $1.072B $1.093B $1.322B
YoY Change -1.75% -17.3% -8.04%
TOTAL ASSETS
Total Short-Term Assets $225.7M $219.1M $255.2M
Total Long-Term Assets $1.072B $1.093B $1.322B
Total Assets $1.298B $1.312B $1.577B
YoY Change -1.59% -16.78% -7.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.87M $16.12M $15.37M
YoY Change 62.68% 4.87% 37.39%
Accrued Expenses $53.72M $51.92M $54.05M
YoY Change 2.08% -3.95% -18.14%
Deferred Revenue $77.07M $75.30M
YoY Change 6.06%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $437.0K $24.70M $9.802M
YoY Change -96.0% 151.99% 56.83%
Total Short-Term Liabilities $148.1M $168.4M $154.4M
YoY Change 0.72% 9.09% -8.58%
LONG-TERM LIABILITIES
Long-Term Debt $276.0M $254.7M $262.1M
YoY Change 6.37% -2.82% -1.23%
Other Long-Term Liabilities $25.19M $23.91M $210.2M
YoY Change 15.95% -88.63% 500.87%
Total Long-Term Liabilities $301.1M $278.6M $472.3M
YoY Change 7.11% -41.01% 57.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $148.1M $168.4M $154.4M
Total Long-Term Liabilities $301.1M $278.6M $472.3M
Total Liabilities $602.7M $609.4M $626.7M
YoY Change -0.47% -2.77% -8.8%
SHAREHOLDERS EQUITY
Retained Earnings -$333.7M -$322.1M
YoY Change 17.8%
Common Stock $1.057B $1.050B
YoY Change 2.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $694.9M $702.8M $950.1M
YoY Change
Total Liabilities & Shareholders Equity $1.298B $1.312B $1.577B
YoY Change -1.59% -16.78% -7.74%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$11.55M -$16.46M -$99.27M
YoY Change -94.98% -83.42% -1812.09%
Depreciation, Depletion And Amortization $2.838M $3.118M $5.279M
YoY Change -44.2% -40.94% -28.43%
Cash From Operating Activities $11.30M -$8.197M -$3.928M
YoY Change -328.1% 108.68% -116.32%
INVESTING ACTIVITIES
Capital Expenditures $1.524M $1.520M -$4.433M
YoY Change -150.33% -134.29% 55.27%
Acquisitions
YoY Change
Other Investing Activities $9.744M -$3.152M $6.981M
YoY Change -336.5% -145.15% -138.87%
Cash From Investing Activities $8.220M -$4.672M $2.548M
YoY Change -215.0% -283.36% -112.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$53.00K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.334M 4.417M -1.659M
YoY Change 169.03% -366.24% -14.57%
NET CHANGE
Cash From Operating Activities 11.30M -8.197M -3.928M
Cash From Investing Activities 8.220M -4.672M 2.548M
Cash From Financing Activities -4.334M 4.417M -1.659M
Net Change In Cash 15.18M -8.452M -3.039M
YoY Change -210.74% 178.12% -351.16%
FREE CASH FLOW
Cash From Operating Activities $11.30M -$8.197M -$3.928M
Capital Expenditures $1.524M $1.520M -$4.433M
Free Cash Flow $9.774M -$9.717M $505.0K
YoY Change -607.74% -2024.16% -98.12%

Facts In Submission

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CY2022Q2 us-gaap Stockholders Equity
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ShareBasedCompensation
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DeferredIncomeTaxExpenseBenefit
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DeferredIncomeTaxExpenseBenefit
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ForeignCurrencyTransactionGainLossUnrealized
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-4004000
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283000
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10951000
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IncreaseDecreaseInAccountsReceivable
21626000
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IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-19902000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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IncreaseDecreaseInDeferredCharges
-2511000
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4799000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4638000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-334000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-2698000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-18437000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-19844000
us-gaap Net Cash Provided By Used In Operating Activities
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-3760000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2815000
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PaymentsToAcquirePropertyPlantAndEquipment
3597000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14418000
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PaymentsToAcquireMarketableSecurities
18025000
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PaymentsToAcquireMarketableSecurities
21153000
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20200000
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ProceedsFromSaleAndMaturityOfMarketableSecurities
31003000
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PaymentsToAcquireEquitySecuritiesFvNi
584000
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PaymentsForProceedsFromOtherInvestingActivities
1024000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1735000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2446000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3417000
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ProceedsFromLinesOfCredit
24700000
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ProceedsFromIssuanceOfLongTermDebt
190000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
198438000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4689000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4834000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
47960000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
355000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
289000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4687000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
34943000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1026000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17995000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-1515000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-1377000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8747000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
94847000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
128428000
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
86100000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
108454000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
5752000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
9868000
us-gaap Interest Paid Net
InterestPaidNet
11468000
us-gaap Interest Paid Net
InterestPaidNet
7724000
us-gaap Nature Of Operations
NatureOfOperations
<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>
us-gaap Use Of Estimates
UseOfEstimates
<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;">12.2</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;">11.5</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;">June 30, 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
CY2023Q2 crnc Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLoss
-4137000
CY2023Q2 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
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
61660000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
89041000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
213711000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
269747000
crnc Minimum Purchase Commitment Deals Of Revenue
MinimumPurchaseCommitmentDealsOfRevenue
47100000
crnc Distribution Period
DistributionPeriod
P5Y
crnc Contract Acquisition Costs
ContractAcquisitionCosts
8200000
CY2022 crnc Contract Acquisition Costs
ContractAcquisitionCosts
8300000
CY2023Q2 crnc Contract Acquisition Cost Amortization
ContractAcquisitionCostAmortization
800000
CY2022Q2 crnc Contract Acquisition Cost Amortization
ContractAcquisitionCostAmortization
700000
crnc Contract Acquisition Cost Amortization
ContractAcquisitionCostAmortization
2400000
crnc Contract Acquisition Cost Amortization
ContractAcquisitionCostAmortization
1900000
crnc Contract Acquisition Cost Impairment
ContractAcquisitionCostImpairment
0
CY2023Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
2200000
CY2022Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
2300000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
7400000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
7800000
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
-31971000
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
-47923000
crnc Contract With Customer Asset Effect Of Foreign Currency Translation
ContractWithCustomerAssetEffectOfForeignCurrencyTranslation
4247000
CY2023Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
64587000
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
238634000
crnc Contract With Customer Liability Amounts Billed But Not Recognized
ContractWithCustomerLiabilityAmountsBilledButNotRecognized
-58056000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
75717000
crnc Contract With Customer Liability Effect Of Foreign Currency Translation
ContractWithCustomerLiabilityEffectOfForeignCurrencyTranslation
7325000
CY2023Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
228298000
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
135113000
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
132083000
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
21769000
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
288965000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-16455000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-99267000
us-gaap Net Income Loss
NetIncomeLoss
-44702000
us-gaap Net Income Loss
NetIncomeLoss
-80699000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40324000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40324000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39313000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39313000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40167000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40167000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39113000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39113000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.41
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.53
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.53
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.11
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.06
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.052
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.037
CY2023Q2 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
CY2023Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
84737000
CY2023Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
52131000
CY2023Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
29911000
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
CY2023Q2 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-100000
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
200000
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-200000
CY2023Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
3100000
CY2022Q3 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
14108000
CY2023Q2 us-gaap Goodwill
Goodwill
904910000
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
197563000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
192919000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4644000
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
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
600000
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2900000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5600000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12000000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
600000
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
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P38M24D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P46M15D
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P27M18D
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P35M18D
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
108000
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
109000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
324000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
327000
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
9000
CY2022Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
12000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
29000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
39000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1594000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1677000
us-gaap Operating Lease Cost
OperatingLeaseCost
4925000
us-gaap Operating Lease Cost
OperatingLeaseCost
5184000
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
749000
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
843000
us-gaap Variable Lease Cost
VariableLeaseCost
2248000
us-gaap Variable Lease Cost
VariableLeaseCost
2532000
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
48000
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
46000
us-gaap Sublease Income
SubleaseIncome
141000
us-gaap Sublease Income
SubleaseIncome
141000
CY2023Q2 us-gaap Lease Cost
LeaseCost
2412000
CY2022Q2 us-gaap Lease Cost
LeaseCost
2595000
us-gaap Lease Cost
LeaseCost
7385000
us-gaap Lease Cost
LeaseCost
7941000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1700000
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1600000
us-gaap Operating Lease Payments
OperatingLeasePayments
5100000
us-gaap Operating Lease Payments
OperatingLeasePayments
5000000.0
crnc Finance Lease Payments
FinanceLeasePayments
300000
crnc Finance Lease Payments
FinanceLeasePayments
300000
CY2023Q2 crnc Increase Decrease In Right Of Use Asset Obtained In Exchange For Operating Lease Liability
IncreaseDecreaseInRightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
-200000
CY2022Q2 crnc Increase Decrease In Right Of Use Asset Obtained In Exchange For Operating Lease Liability
IncreaseDecreaseInRightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
300000
crnc Increase Decrease In Right Of Use Asset Obtained In Exchange For Operating Lease Liability
IncreaseDecreaseInRightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2700000
crnc Increase Decrease In Right Of Use Asset Obtained In Exchange For Operating Lease Liability
IncreaseDecreaseInRightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7300000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1510000
CY2023Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
104000
CY2023Q2 crnc Lessee Lease Liability Payment Due Remaining Fiscal Year
LesseeLeaseLiabilityPaymentDueRemainingFiscalYear
1614000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6059000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
417000
CY2023Q2 crnc Lessee Lease Liability Payment Due Next Twelve Months
LesseeLeaseLiabilityPaymentDueNextTwelveMonths
6476000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4138000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
362000
CY2023Q2 crnc Lessee Lease Liability Payment Due Year Two
LesseeLeaseLiabilityPaymentDueYearTwo
4500000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2039000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
53000
CY2023Q2 crnc Lessee Lease Liability Payment Due Year Three
LesseeLeaseLiabilityPaymentDueYearThree
2092000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1562000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0
CY2023Q2 crnc Lessee Lease Liability Payment Due Year Four
LesseeLeaseLiabilityPaymentDueYearFour
1562000
CY2022Q3 crnc Sales And Other Taxes Payable Current
SalesAndOtherTaxesPayableCurrent
4598000
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4300000
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3866000
CY2023Q2 crnc Accrued Cost Of Revenue Related Liabilities Current
AccruedCostOfRevenueRelatedLiabilitiesCurrent
3941000
CY2022Q3 crnc Accrued Cost Of Revenue Related Liabilities Current
AccruedCostOfRevenueRelatedLiabilitiesCurrent
4257000
CY2023Q2 us-gaap Interest Payable Current
InterestPayableCurrent
350000
CY2022Q3 us-gaap Interest Payable Current
InterestPayableCurrent
1828000
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7237000
CY2023Q2 crnc Lessee Operating Lease Liability Payment Due After Year Four
LesseeOperatingLeaseLiabilityPaymentDueAfterYearFour
826000
CY2023Q2 crnc Finance Lease Liability Payment Due After Year Four
FinanceLeaseLiabilityPaymentDueAfterYearFour
0
CY2023Q2 crnc Lessee Lease Liability Payment Due After Year Four
LesseeLeaseLiabilityPaymentDueAfterYearFour
826000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
16134000
CY2023Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
936000
CY2023Q2 crnc Lessee Lease Liability Payment Due
LesseeLeaseLiabilityPaymentDue
17070000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1299000
CY2023Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
36000
CY2023Q2 crnc Lessee Leases Liability Undiscounted Excess Amount
LesseeLeasesLiabilityUndiscountedExcessAmount
1335000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
14835000
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
900000
CY2023Q2 crnc Leases Liability
LeasesLiability
15735000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5505000
CY2023Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
392000
CY2023Q2 crnc Leases Liability Current
LeasesLiabilityCurrent
5897000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
9330000
CY2023Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
508000
CY2023Q2 crnc Leases Liability Noncurrent
LeasesLiabilityNoncurrent
9838000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
14835000
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
900000
CY2023Q2 crnc Leases Liability
LeasesLiability
15735000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
22046000
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
19710000
CY2023Q2 crnc Sales And Other Taxes Payable Current
SalesAndOtherTaxesPayableCurrent
8928000
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
13731000
CY2023Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
46802000
CY2022Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
47990000
CY2022Q3 us-gaap Restructuring Reserve
RestructuringReserve
5154000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
11075000
crnc Restructuring Reserve Settled Without Cash Adjustment
RestructuringReserveSettledWithoutCashAdjustment
2986000
us-gaap Payments For Restructuring
PaymentsForRestructuring
16622000
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
20000
CY2023Q2 us-gaap Restructuring Reserve
RestructuringReserve
2613000
CY2023Q2 crnc Restructuring Charges Reversal
RestructuringChargesReversal
1172000
CY2022Q2 crnc Restructuring Charges Reversal
RestructuringChargesReversal
1197000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
11075000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
6586000
CY2023Q2 crnc Restructuring Charges Reversal
RestructuringChargesReversal
1200000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
11100000
CY2022Q2 crnc Restructuring Charges Reversal
RestructuringChargesReversal
1200000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
6600000
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
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6974000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6253000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31801000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23020000
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
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-9497000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
38167000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-19363000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
52366000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-3947000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-26440000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-17372000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-18327000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-13444000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
11727000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-36735000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
34039000
CY2023Q2 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
699000
CY2022Q2 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
-4807000
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
1068000
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
-3137000
CY2023Q2 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
2312000
CY2022Q2 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
115801000
us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
6899000
us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
117875000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3011000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
110994000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7967000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
114738000
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.224
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
9.465
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.217
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
3.371
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.224
CY2022Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
9.465
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000
CY2023Q2 crnc Change In Income Tax Expense Benefit
ChangeInIncomeTaxExpenseBenefit
108000000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
111000000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.217
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
3.371
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8000000
crnc Change In Income Tax Expense Benefit
ChangeInIncomeTaxExpenseBenefit
106700000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
114700000
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
302200000
CY2023Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4042000
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
18756000
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
279402000
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
24700000
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
254702000
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
285938000
CY2022Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
12574000
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
2990000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
270374000
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
10938000
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
259436000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
24700000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
87500000
CY2023Q2 crnc Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
190000000
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
302200000
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
22798000
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
24700000
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
254702000
ecd Trd Arr Ind Name
TrdArrIndName
Stefan Ortmanns
ecd Trd Arr Ind Title
TrdArrIndTitle
Chief Executive Officer
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true
ecd Trd Arr Adoption Date
TrdArrAdoptionDate
May 26, 2023
CY2023Q2 ecd Trd Arr Securities Agg Avail Amt
TrdArrSecuritiesAggAvailAmt
151432
ecd Trd Arr Termination Date
TrdArrTerminationDate
November 30, 2023

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