$CRNC
Cerence Inc.

2021 Q2 Form 10-Q Financial Statement

#000156459021042523 Filed on August 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $96.80M $75.20M $86.82M
YoY Change 28.73% -3.06% 23.5%
Cost Of Revenue $23.84M $27.60M $28.73M
YoY Change -13.64% 16.6% 17.53%
Gross Profit $72.97M $47.59M $58.09M
YoY Change 53.31% -11.69% 26.67%
Gross Profit Margin 75.38% 63.29% 66.91%
Selling, General & Admin $22.71M $23.44M $18.42M
YoY Change -3.13% 61.99% 18.92%
% of Gross Profit 31.12% 49.25% 31.7%
Research & Development $30.37M $22.04M $21.35M
YoY Change 37.79% -4.09% -5.39%
% of Gross Profit 41.62% 46.31% 36.74%
Depreciation & Amortization $7.376M $7.700M $7.600M
YoY Change -4.21% 11.59% 4.11%
% of Gross Profit 10.11% 16.18% 13.08%
Operating Expenses $58.02M $51.90M $45.76M
YoY Change 11.78% 27.9% 0.15%
Operating Profit $14.95M -$4.309M $12.33M
YoY Change -446.93% -132.36% 7241.67%
Interest Expense -$3.260M -$5.510M $6.699M
YoY Change -40.83% 3573.33%
% of Operating Profit -21.81% 54.31%
Other Income/Expense, Net $173.0K -$20.45M $226.0K
YoY Change -100.85% -15.04%
Pretax Income $4.895M -$30.26M $6.105M
YoY Change -116.17% -570.36% 1306.68%
Income Tax $6.100M -$2.211M -$6.707M
% Of Pretax Income 124.62% -109.86%
Net Earnings $5.798M -$28.05M $12.81M
YoY Change -120.67% -1684.86% 2722.03%
Net Earnings / Revenue 5.99% -37.3% 14.76%
Basic Earnings Per Share $0.15 -$0.77 $0.35
Diluted Earnings Per Share $0.15 -$0.77 $0.34
COMMON SHARES
Basic Shares Outstanding 37.83M 36.51M 36.44M
Diluted Shares Outstanding 39.30M 36.51M 37.39M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $149.9M $132.8M $95.60M
YoY Change 12.91%
Cash & Equivalents $120.8M $132.8M $95.58M
Short-Term Investments $29.10M
Other Short-Term Assets $20.51M $15.90M $18.10M
YoY Change 28.99% 96.3% 108.05%
Inventory
Prepaid Expenses
Receivables $53.14M $87.80M $92.27M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $271.7M $236.5M $222.9M
YoY Change 14.9% 155.95% 173.44%
LONG-TERM ASSETS
Property, Plant & Equipment $47.56M $47.90M $26.21M
YoY Change -0.71% 383.84% 133.98%
Goodwill $1.133B $1.118B
YoY Change
Intangibles
YoY Change
Long-Term Investments $7.348M
YoY Change
Other Assets $20.35M $212.9M $14.87M
YoY Change -90.44% 137.08% -83.64%
Total Long-Term Assets $1.437B $1.433B $1.430B
YoY Change 0.33% 10.98% 10.3%
TOTAL ASSETS
Total Short-Term Assets $271.7M $236.5M $222.9M
Total Long-Term Assets $1.437B $1.433B $1.430B
Total Assets $1.709B $1.669B $1.653B
YoY Change 2.39% 20.66% 19.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.19M $11.60M $18.79M
YoY Change -3.56% -12.12% 157.34%
Accrued Expenses $66.02M $60.40M $47.70M
YoY Change 9.31% 183.57% 177.33%
Deferred Revenue $84.99M $113.1M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.250M $6.300M $9.450M
YoY Change -0.79%
Total Short-Term Liabilities $168.9M $195.2M $189.2M
YoY Change -13.48% 58.18% 72.47%
LONG-TERM LIABILITIES
Long-Term Debt $265.4M $267.2M $237.9M
YoY Change -0.68%
Other Long-Term Liabilities $34.99M $268.0M $39.14M
YoY Change -86.94% -9.15% -86.29%
Total Long-Term Liabilities $300.4M $535.2M $277.1M
YoY Change -43.88% 81.42% -2.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $168.9M $195.2M $189.2M
Total Long-Term Liabilities $300.4M $535.2M $277.1M
Total Liabilities $687.2M $730.4M $716.9M
YoY Change -5.92% 74.57% 81.45%
SHAREHOLDERS EQUITY
Retained Earnings $19.59M $733.0K
YoY Change
Common Stock $992.7M $950.3M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.022B $939.6M $937.2M
YoY Change
Total Liabilities & Shareholders Equity $1.709B $1.669B $1.653B
YoY Change 2.39% 20.66% 19.95%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $5.798M -$28.05M $12.81M
YoY Change -120.67% -1684.86% 2722.03%
Depreciation, Depletion And Amortization $7.376M $7.700M $7.600M
YoY Change -4.21% 11.59% 4.11%
Cash From Operating Activities $24.07M $19.30M -$10.20M
YoY Change 24.7% -26.89% -139.84%
INVESTING ACTIVITIES
Capital Expenditures -$2.855M -$6.000M -$6.500M
YoY Change -52.42% 1400.0% 225.0%
Acquisitions
YoY Change
Other Investing Activities -$17.96M
YoY Change
Cash From Investing Activities -$20.92M -$6.000M -$6.500M
YoY Change 248.6% 1400.0% 225.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.942M 23.80M -1.000M
YoY Change -108.16% -191.54% -95.76%
NET CHANGE
Cash From Operating Activities 24.07M 19.30M -10.20M
Cash From Investing Activities -20.92M -6.000M -6.500M
Cash From Financing Activities -1.942M 23.80M -1.000M
Net Change In Cash 1.210M 37.10M -17.70M
YoY Change -96.74% 31868657336319980000.0%
FREE CASH FLOW
Cash From Operating Activities $24.07M $19.30M -$10.20M
Capital Expenditures -$2.855M -$6.000M -$6.500M
Free Cash Flow $26.92M $25.30M -$3.700M
YoY Change 6.42% -5.6% -113.41%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
us-gaap Lessee Operating Lease Existence Of Option To Terminate
LesseeOperatingLeaseExistenceOfOptionToTerminate
true
CY2021Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P1Y
CY2021Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P4Y
CY2021Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P50M15D
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P55M27D
CY2021Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P50M3D
CY2020Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P55M24D
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
CY2020Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-16000
CY2020Q2 us-gaap Operating Expenses
OperatingExpenses
51903000
us-gaap Net Income Loss
NetIncomeLoss
-26523000
CY2021Q2 us-gaap Operating Expenses
OperatingExpenses
58017000
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-96000
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-1032000
crnc Indemnification Period For Former Officers And Members Of Boards Of Directors
IndemnificationPeriodForFormerOfficersAndMembersOfBoardsOfDirectors
P6Y
CY2020Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
14949000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1432000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-20366000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
40767000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-32672000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2865000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6149000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36315000
us-gaap Net Income Loss
NetIncomeLoss
37902000
CY2020Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
6382000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
5786000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.73
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.97
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.73
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37664000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36315000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39135000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
5798000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-28052000
us-gaap Net Income Loss
NetIncomeLoss
37902000
us-gaap Net Income Loss
NetIncomeLoss
-26523000
CY2021Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
3937000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
4002000
CY2021Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-22000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4309000
CY2021Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
34000
CY2021Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-14000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-14000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
5868000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
5034000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
43770000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-21489000
CY2021Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
120840000
CY2020Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
136067000
CY2021Q2 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
29100000
CY2020Q3 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
11662000
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1394000
CY2021Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
53141000
CY2020Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
50900000
CY2021Q2 us-gaap Deferred Costs Current
DeferredCostsCurrent
7330000
CY2020Q3 us-gaap Deferred Costs Current
DeferredCostsCurrent
7256000
CY2021Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
61328000
CY2020Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
44220000
CY2021Q2 us-gaap Assets Current
AssetsCurrent
271739000
CY2020Q3 us-gaap Assets Current
AssetsCurrent
250105000
CY2021Q2 us-gaap Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
7348000
CY2020Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
29529000
CY2020Q3 us-gaap Deferred Costs
DeferredCosts
38161000
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
20096000
CY2020Q3 us-gaap Goodwill
Goodwill
1128198000
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
45616000
CY2020Q3 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
160974000
CY2020Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
14938000
CY2020Q3 us-gaap Assets
Assets
1687617000
CY2020Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
8447000
CY2020Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
112156000
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5700000
CY2020Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
6250000
CY2020Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
66078000
CY2020Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
212573000
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
17821000
CY2020Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
31649000
CY2020Q3 us-gaap Liabilities
Liabilities
727546000
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
560000000
CY2020Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
36842000
CY2020Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
36842000
CY2020Q3 us-gaap Common Stock Value
CommonStockValue
369000
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
3711000
CY2020Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
974307000
CY2020Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-18316000
CY2020Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1687617000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
1068128000
us-gaap Net Income Loss
NetIncomeLoss
-26523000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5034000
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
CY2020Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
38000
us-gaap Interest Expense
InterestExpense
10569000
us-gaap Interest Expense
InterestExpense
19043000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
3945000
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6398000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
9743000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
404000
CY2021Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
30723000
CY2021Q2 us-gaap Deferred Costs
DeferredCosts
33446000
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16837000
CY2021Q2 us-gaap Goodwill
Goodwill
1132897000
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
30618000
CY2021Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
165077000
CY2021Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
20354000
CY2021Q2 us-gaap Assets
Assets
1709039000
CY2021Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
11187000
CY2021Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
84993000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5497000
CY2021Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
6250000
CY2021Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
60955000
CY2021Q2 us-gaap Liabilities Current
LiabilitiesCurrent
168882000
CY2020Q3 us-gaap Liabilities Current
LiabilitiesCurrent
198631000
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
265372000
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
266872000
CY2021Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
204790000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
13157000
CY2021Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
34989000
CY2021Q2 us-gaap Liabilities
Liabilities
687190000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
560000000
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
37828000
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
37828000
CY2021Q2 us-gaap Common Stock Value
CommonStockValue
379000
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
9579000
CY2021Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
992305000
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
19586000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
1021849000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
960071000
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-21654000
CY2021Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
118000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-170000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4145000
CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
469000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3800000
CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
417000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2351000
CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
362000
CY2021Q2 crnc Lessee Operating Lease Liability Payment Due After Year Four
LesseeOperatingLeaseLiabilityPaymentDueAfterYearFour
3125000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
21501000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2847000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
18654000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5497000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
13157000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
18654000
CY2021Q2 crnc Sales And Other Taxes Payable Current
SalesAndOtherTaxesPayableCurrent
11621000
CY2021Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3974000
CY2021Q2 crnc Accrued Cost Of Revenue Related Liabilities Current
AccruedCostOfRevenueRelatedLiabilitiesCurrent
3946000
CY2021Q2 us-gaap Interest Payable Current
InterestPayableCurrent
622000
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3671000
CY2021Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
60955000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
2777000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
13725000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
2800000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
13700000
crnc Indemnification Period For Former Officers And Members Of Boards Of Directors
IndemnificationPeriodForFormerOfficersAndMembersOfBoardsOfDirectors
P6Y
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-37511000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
19139000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-42187000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
6967000
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
7248000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
21628000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
9515000
CY2021Q2 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
2661000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2211000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2865000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6149000
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.073
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.070
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.188
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020Q2 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
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.511
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.073
CY2021Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1709039000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
1003441000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
5798000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3945000
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1637000
CY2021Q2 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-1889000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8917000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
1021849000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
937175000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-28052000
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
6398000
CY2020Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1000
CY2020Q2 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-696000
CY2020Q2 crnc Convertible Senior Notes Net Of Taxes
ConvertibleSeniorNotesNetOfTaxes
4678000
CY2020Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
629000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
14369000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10423000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
939618000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
960071000
us-gaap Net Income Loss
NetIncomeLoss
37902000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5868000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
6682000
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-34089000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
45415000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
1021849000
crnc Distribution To Parent
DistributionToParent
152978000
crnc Net Increase Decrease In Net Parent Investment
NetIncreaseDecreaseInNetParentInvestment
11453000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2000
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
-1615000
crnc Convertible Senior Notes Net Of Taxes
ConvertibleSeniorNotesNetOfTaxes
4678000
CY2020Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
629000
us-gaap Adjustments To Additional Paid In Capital Convertible Debt With Conversion Feature
AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature
14369000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
21748000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
939618000
us-gaap Profit Loss
ProfitLoss
37902000
us-gaap Profit Loss
ProfitLoss
-26523000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
22276000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
22704000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-412000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
525000
us-gaap Share Based Compensation
ShareBasedCompensation
42179000
us-gaap Share Based Compensation
ShareBasedCompensation
32954000
crnc Non Cash Interest Expense
NonCashInterestExpense
3730000
crnc Non Cash Interest Expense
NonCashInterestExpense
4025000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-19279000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3812000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-12535000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-1590000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1698000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3164000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
17065000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
21328000
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
-5078000
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
749000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2906000
crnc Change In Income Tax Expense Benefit
ChangeInIncomeTaxExpenseBenefit
9000000.0
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
271622000
CY2021Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
6250000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
326000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
96000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6682000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-32942000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
130231000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1363000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
111000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-15227000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-4026000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
19283000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-34400000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-22052000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
51068000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
18577000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8055000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16075000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
33800000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
9000000
crnc Payments To Acquire Equity Securities Without Readily Determinable Fair Value Amount
PaymentsToAcquireEquitySecuritiesWithoutReadilyDeterminableFairValueAmount
2563000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-702000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-34716000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-16075000
crnc Net Transaction With Parent
NetTransactionWithParent
-12964000
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
152978000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
547719000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
520000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
5765000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4689000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
270000000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
34089000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1613000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
132844000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
136067000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
120840000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
132844000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1946000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
931000
us-gaap Interest Paid Net
InterestPaidNet
8817000
us-gaap Interest Paid Net
InterestPaidNet
14344000
us-gaap Nature Of Operations
NatureOfOperations
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">Note </span><span style="color:#000000;">1. Business Overview</span></p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">History</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On October 1, 2019 (the “Distribution Date”), Nuance Communications, Inc. (“Nuance”), a leading provider of speech and language solutions for businesses and consumers around the world, completed the legal and structural separation and distribution to its stockholders of all of the outstanding shares of our common stock, and its consolidated subsidiaries, in a tax free spin-off (which we refer to as the “Spin-Off”). The distribution was made in the amount of one share of our common stock for every <span style="-sec-ix-hidden:F_000461">eight</span> shares of Nuance common stock (which we refer to as the “Distribution”) owned by Nuance’s stockholders as of 5:00 p.m. Eastern Time on September 17, 2019, the record date of the Distribution.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">In connection with the Distribution, on September 30, 2019, we filed an Amended and Restated Certificate of Incorporation (the “Charter”) with the Secretary of State of the State of Delaware, which became effective on October 1, 2019. Our Amended and Restated By-laws also became effective on October 1, 2019. On October 2, 2019, our common stock began regular-way trading on the Nasdaq Global Select Market under the ticker symbol CRNC.</span>  </p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">Business</span></p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">Cerence Inc. (referred to in this Quarterly Report on Form 10-Q as “we,” “our,” “us,” “ourselves,” the “Company” or “Cerence”) is a global, </span><span style="color:#000000;">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></p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">COVID-19</span><span style="color:#000000;"> Update</span></p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">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></p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">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, 2020. We continue to closely monitor ongoing developments in connection with the COVID-19 pandemic and its impact on our business. </span></p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.13%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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, 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. The COVID-19 pandemic could also result in additional governmental restrictions and regulations, which could adversely affect our business and financial results. In addition, a recession, depression or other sustained adverse market impact resulting from COVID-19 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. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;"> </p>
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2019-10-01
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">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></p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">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="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">Concentration of Risk</span></p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.17%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">Financial instruments that potentially subject us to significant concentrations of credit risk primarily consist of trade accounts receivable. We perform ongoing credit evaluations of our customers’ financial condition and limit the amount of credit extended when deemed appropriate. Three customers accounted for 19.3%, 11.6%, and 10.3%</span><span style="color:#000000;"> </span><span style="Background-color:#FFFFFF;">of our Accounts receivable, net balance at June 30, 2021. Two customers accounted for 14.8% and 10.9% of our Accounts receivable, net balance at September 30, 2020.</span></p>
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
96801000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
75197000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
289106000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
239725000
crnc Contract Acquisition Costs
ContractAcquisitionCosts
6100000
CY2020Q2 crnc Contract Acquisition Cost Amortization
ContractAcquisitionCostAmortization
300000
crnc Contract Acquisition Cost Amortization
ContractAcquisitionCostAmortization
1500000
crnc Contract Acquisition Cost Impairment
ContractAcquisitionCostImpairment
0
CY2021Q2 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
40800000
CY2020Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
4000000.0
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
10500000
us-gaap Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
0
CY2020Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
30277000
crnc Contract With Customer Asset Amount Recognized But Unbilled
ContractWithCustomerAssetAmountRecognizedButUnbilled
58161000
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
39794000
CY2021Q2 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
48644000
CY2021Q2 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss
ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss
496000
CY2020Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
324729000
crnc Contract With Customer Liability Amounts Billed But Not Recognized
ContractWithCustomerLiabilityAmountsBilledButNotRecognized
80683000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
115629000
CY2020Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
101437000
CY2020Q3 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
11662000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
5000000.0
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
335639000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
5798000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-28052000
us-gaap Net Income Loss
NetIncomeLoss
37902000
us-gaap Net Income Loss
NetIncomeLoss
-26523000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37825000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36509000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37664000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36315000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1471000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1471000
CY2021Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
469000
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
138003000
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
175677000
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
21959000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39296000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36509000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39135000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36315000
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.77
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.73
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.77
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.97
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.73
CY2021Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
105678000
CY2020Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
113099000
CY2020Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
0
CY2020Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
202545000
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
171927000
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
30618000
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
201170000
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
155554000
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
45616000
CY2021Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
2600000
CY2020Q3 crnc Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLoss
1394000
crnc Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss Expense Recovery
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLossExpenseRecovery
521000
crnc Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss Write Offs
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLossWriteOffs
109000
crnc Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss Foreign Exchange Impact
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLossForeignExchangeImpact
82000
CY2021Q2 crnc Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLoss
900000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020Q3 us-gaap Goodwill
Goodwill
1128198000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
4699000
CY2021Q2 us-gaap Goodwill
Goodwill
1132897000
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5100000
CY2020Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5200000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15200000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15800000
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.
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.068
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.074
CY2021Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.044
CY2020Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.044
CY2021Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
87000
CY2020Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
33000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
301000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
102000
CY2021Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
16000
CY2020Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
48000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1885000
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
2209000
us-gaap Operating Lease Cost
OperatingLeaseCost
5825000
us-gaap Operating Lease Cost
OperatingLeaseCost
6059000
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
801000
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
347000
us-gaap Variable Lease Cost
VariableLeaseCost
1271000
us-gaap Variable Lease Cost
VariableLeaseCost
1021000
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
53000
CY2020Q2 us-gaap Sublease Income
SubleaseIncome
47000
us-gaap Sublease Income
SubleaseIncome
157000
us-gaap Sublease Income
SubleaseIncome
157000
CY2021Q2 us-gaap Lease Cost
LeaseCost
2736000
CY2020Q2 us-gaap Lease Cost
LeaseCost
2543000
us-gaap Lease Cost
LeaseCost
7288000
us-gaap Lease Cost
LeaseCost
7028000
CY2021Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1800000
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
2100000
us-gaap Operating Lease Payments
OperatingLeasePayments
5900000
us-gaap Operating Lease Payments
OperatingLeasePayments
5700000
CY2021Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
100000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
300000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
100000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1830000
CY2021Q2 crnc Lessee Lease Liability Payment Due Remaining Fiscal Year
LesseeLeaseLiabilityPaymentDueRemainingFiscalYear
1948000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6250000
CY2021Q2 crnc Lessee Lease Liability Payment Due Next Twelve Months
LesseeLeaseLiabilityPaymentDueNextTwelveMonths
6719000
CY2021Q2 crnc Lessee Lease Liability Payment Due Year Two
LesseeLeaseLiabilityPaymentDueYearTwo
4614000
CY2021Q2 crnc Lessee Lease Liability Payment Due Year Three
LesseeLeaseLiabilityPaymentDueYearThree
4217000
CY2021Q2 crnc Lessee Lease Liability Payment Due Year Four
LesseeLeaseLiabilityPaymentDueYearFour
2713000
CY2021Q2 crnc Finance Lease Liability Payment Due After Year Four
FinanceLeaseLiabilityPaymentDueAfterYearFour
53000
CY2021Q2 crnc Lessee Lease Liability Payment Due After Year Four
LesseeLeaseLiabilityPaymentDueAfterYearFour
3178000
CY2021Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1888000
CY2021Q2 crnc Lessee Lease Liability Payment Due
LesseeLeaseLiabilityPaymentDue
23389000
CY2021Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
131000
CY2021Q2 crnc Lessee Leases Liability Undiscounted Excess Amount
LesseeLeasesLiabilityUndiscountedExcessAmount
2978000
CY2021Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
1757000
CY2021Q2 crnc Leases Liability
LeasesLiability
20411000
CY2021Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
429000
CY2021Q2 crnc Leases Liability Current
LeasesLiabilityCurrent
5926000
CY2021Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1328000
CY2021Q2 crnc Leases Liability Noncurrent
LeasesLiabilityNoncurrent
14485000
CY2021Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
1757000
CY2021Q2 crnc Leases Liability
LeasesLiability
20411000
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
37121000
CY2020Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
37960000
CY2020Q3 crnc Sales And Other Taxes Payable Current
SalesAndOtherTaxesPayableCurrent
14688000
CY2020Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2458000
CY2020Q3 crnc Accrued Cost Of Revenue Related Liabilities Current
AccruedCostOfRevenueRelatedLiabilitiesCurrent
3683000
CY2020Q3 us-gaap Interest Payable Current
InterestPayableCurrent
2703000
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4586000
CY2020Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
66078000
CY2020Q3 us-gaap Restructuring Reserve
RestructuringReserve
2702000
crnc Restructuring Charges Reversal
RestructuringChargesReversal
2777000
us-gaap Restructuring Reserve Settled Without Cash2
RestructuringReserveSettledWithoutCash2
2749000
us-gaap Payments For Restructuring
PaymentsForRestructuring
3556000
us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
-39000
CY2021Q2 us-gaap Restructuring Reserve
RestructuringReserve
4633000
CY2020Q2 crnc Restructuring Charges Reversal
RestructuringChargesReversal
3301000
CY2020Q2 crnc Restructuring Charges Reversal
RestructuringChargesReversal
3300000
CY2019Q4 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
600000000
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
40000000
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
560000000
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
6350000
CY2021Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1130547
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14710000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17425000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
42179000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
32954000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
4895000
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
11862000
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-30263000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
40767000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-32672000
CY2020Q2 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
-5899000
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
6414000
us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
-6841000
CY2021Q2 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
3403000
CY2020Q2 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
3688000
us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
-3549000
us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
692000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6100000
CY2021Q2 crnc Change In Income Tax Expense Benefit
ChangeInIncomeTaxExpenseBenefit
8300000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2200000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.070
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.188
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2900000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6100000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3900000
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
265372000
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
273122000
CY2020Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
6250000
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
265372000
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
266872000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1562000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
6250000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
10938000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
12500000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
262500000
CY2021Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
293750000
CY2021Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
22128000
CY2021Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
6250000
us-gaap Immaterial Error Correction
ImmaterialErrorCorrection
  • During the first quarter of fiscal 2021, we recognized an immaterial amount of connected services revenue which related to fiscal year 2020.     • During the first quarter of fiscal 2021, the estimated achievement percentage relating to our long-term incentive plan increased. We did not originally record the corresponding cumulative adjustment to stock-based compensation during the three months ended December 31, 2020.     • During the fourth quarter of fiscal 2020, we recorded a restructuring accrual relating to the closure of a facility under ASC 420 Exit or Disposal Cost Obligation when ASC 842 Leases should have been applied. During the three months ended December 31, 2020, a partial true up was recorded to the restructuring accrual.  
CY2019Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
77705000
CY2019Q4 us-gaap Gross Profit
GrossProfit
51771000
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-1851000
CY2019Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8514000
CY2019Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2769000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
-11283000
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
86823000
CY2020Q1 us-gaap Gross Profit
GrossProfit
58093000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
12334000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
6105000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6707000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
12812000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
75197000
CY2020Q2 us-gaap Gross Profit
GrossProfit
47594000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4309000
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-30263000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2211000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-28052000
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.77
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.77
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
330967000
CY2020 us-gaap Gross Profit
GrossProfit
223116000
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
22431000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-23040000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4724000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-18316000
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.50
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.50
CY2020Q3 us-gaap Assets Current
AssetsCurrent
250105000
CY2020Q3 us-gaap Assets
Assets
1687617000
CY2020Q3 us-gaap Liabilities Current
LiabilitiesCurrent
198631000
CY2020Q3 us-gaap Liabilities
Liabilities
727546000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
960071000
CY2020Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1687617000
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
93643000
CY2020Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
26888000
CY2020Q4 us-gaap Gross Profit
GrossProfit
66755000
CY2020Q4 us-gaap Operating Expenses
OperatingExpenses
49211000
CY2020Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
17544000
CY2020Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
11526000
CY2020Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-9415000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
20941000

Files In Submission

Name View Source Status
0001564590-21-042523-index-headers.html Edgar Link pending
0001564590-21-042523-index.html Edgar Link pending
0001564590-21-042523.txt Edgar Link pending
0001564590-21-042523-xbrl.zip Edgar Link pending
crnc-10q_20210630.htm Edgar Link pending
crnc-10q_20210630_htm.xml Edgar Link completed
crnc-20210630.xsd Edgar Link pending
crnc-20210630_cal.xml Edgar Link unprocessable
crnc-20210630_def.xml Edgar Link unprocessable
crnc-20210630_lab.xml Edgar Link unprocessable
crnc-20210630_pre.xml Edgar Link unprocessable
crnc-ex311_7.htm Edgar Link pending
crnc-ex312_9.htm Edgar Link pending
crnc-ex321_8.htm Edgar Link pending
crnc-ex322_6.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R78.htm Edgar Link pending
R79.htm Edgar Link pending
R8.htm Edgar Link pending
R80.htm Edgar Link pending
R81.htm Edgar Link pending
R82.htm Edgar Link pending
R83.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending