2022 Q1 Form 10-Q Financial Statement
#000156459022019216 Filed on May 10, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q4 | 2021 Q3 |
|---|---|---|---|
| Revenue | $86.28M | $94.43M | $98.08M |
| YoY Change | -12.55% | 0.84% | 7.92% |
| Cost Of Revenue | $24.31M | $24.23M | $24.13M |
| YoY Change | -7.3% | -9.9% | -5.68% |
| Gross Profit | $61.97M | $70.20M | $73.95M |
| YoY Change | -14.45% | 5.16% | 13.25% |
| Gross Profit Margin | 71.83% | 74.34% | 75.4% |
| Selling, General & Admin | $22.11M | $13.41M | $29.00M |
| YoY Change | -1.78% | -34.65% | 34.89% |
| % of Gross Profit | 35.67% | 19.1% | 39.22% |
| Research & Development | $29.98M | $25.79M | $28.71M |
| YoY Change | 3.87% | 7.06% | 30.48% |
| % of Gross Profit | 48.37% | 36.74% | 38.82% |
| Depreciation & Amortization | $6.364M | $7.210M | $7.385M |
| YoY Change | -12.82% | -5.13% | 1.16% |
| % of Gross Profit | 10.27% | 10.27% | 9.99% |
| Operating Expenses | $55.22M | $42.35M | $60.88M |
| YoY Change | 1.21% | -13.94% | 30.44% |
| Operating Profit | $6.754M | $27.85M | $13.07M |
| YoY Change | -62.23% | 58.73% | -29.82% |
| Interest Expense | -$3.277M | -$3.337M | -$3.387M |
| YoY Change | -5.29% | -187.84% | -8.21% |
| % of Operating Profit | -48.52% | -11.98% | -25.91% |
| Other Income/Expense, Net | -$34.00K | -$252.0K | $131.0K |
| YoY Change | -100.97% | -88.73% | -104.47% |
| Pretax Income | $2.969M | $19.34M | $7.502M |
| YoY Change | -82.92% | 67.82% | 0.16% |
| Income Tax | $3.400M | $300.0K | -$489.0K |
| % Of Pretax Income | 114.52% | 1.55% | -6.52% |
| Net Earnings | -$476.0K | $19.04M | $7.991M |
| YoY Change | -104.26% | -9.06% | 17.22% |
| Net Earnings / Revenue | -0.55% | 20.17% | 8.15% |
| Basic Earnings Per Share | -$0.01 | $0.49 | |
| Diluted Earnings Per Share | -$0.01 | $0.47 | $201.0K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 39.19M | 38.84M | |
| Diluted Shares Outstanding | 39.19M | 44.37M |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q4 | 2021 Q3 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $141.6M | $145.1M | $158.9M |
| YoY Change | 3.68% | 13.93% | 7.56% |
| Cash & Equivalents | $111.8M | $117.2M | $128.4M |
| Short-Term Investments | $29.81M | $27.91M | $30.44M |
| Other Short-Term Assets | $76.34M | $20.77M | $23.48M |
| YoY Change | 263.53% | 22.15% | 10.76% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | $48.03M | $115.2M | $45.56M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $266.0M | $281.2M | $287.0M |
| YoY Change | 4.74% | 17.48% | 14.77% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $55.84M | $50.96M | $46.41M |
| YoY Change | 14.66% | 1.32% | -6.44% |
| Goodwill | $1.124B | $1.126B | $1.129B |
| YoY Change | -0.61% | -0.94% | 0.03% |
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $4.457M | $7.720M | $7.339M |
| YoY Change | |||
| Other Assets | $236.7M | $19.09M | $20.08M |
| YoY Change | 1128.14% | 15.14% | 34.43% |
| Total Long-Term Assets | $1.437B | $1.411B | $1.419B |
| YoY Change | 0.04% | -3.43% | -1.31% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $266.0M | $281.2M | $287.0M |
| Total Long-Term Assets | $1.437B | $1.411B | $1.419B |
| Total Assets | $1.703B | $1.692B | $1.706B |
| YoY Change | 0.74% | -0.49% | 1.07% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $18.17M | $8.322M | $11.64M |
| YoY Change | 353.9% | 73.16% | 37.75% |
| Accrued Expenses | $51.19M | $55.33M | $68.60M |
| YoY Change | -14.97% | -2.94% | -4.46% |
| Deferred Revenue | $71.22M | $78.39M | |
| YoY Change | -31.9% | -30.1% | |
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $7.813M | $6.250M | $6.250M |
| YoY Change | 25.01% | 0.0% | 0.0% |
| Total Short-Term Liabilities | $156.5M | $141.5M | $165.3M |
| YoY Change | -2.98% | -18.73% | -16.78% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $263.0M | $264.8M | $265.1M |
| YoY Change | -1.01% | -0.45% | -0.67% |
| Other Long-Term Liabilities | $225.9M | $30.17M | $32.82M |
| YoY Change | 561.56% | -13.79% | 3.71% |
| Total Long-Term Liabilities | $263.0M | $295.0M | $297.9M |
| YoY Change | -12.28% | -2.0% | -0.2% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $156.5M | $141.5M | $165.3M |
| Total Long-Term Liabilities | $263.0M | $295.0M | $297.9M |
| Total Liabilities | $646.3M | $642.9M | $673.8M |
| YoY Change | -5.85% | -9.14% | -7.39% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $46.62M | $27.58M | |
| YoY Change | 4529.69% | -250.56% | |
| Common Stock | $1.007B | $1.003B | |
| YoY Change | 3.32% | 2.88% | |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $1.056B | $1.050B | $1.032B |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $1.703B | $1.692B | $1.706B |
| YoY Change | 0.74% | -0.49% | 1.07% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q4 | 2021 Q3 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$476.0K | $19.04M | $7.991M |
| YoY Change | -104.26% | -9.06% | 17.22% |
| Depreciation, Depletion And Amortization | $6.364M | $7.210M | $7.385M |
| YoY Change | -12.82% | -5.13% | 1.16% |
| Cash From Operating Activities | $1.598M | $5.145M | $23.32M |
| YoY Change | -90.14% | -52.4% | -10.99% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$5.575M | -$4.410M | -$3.992M |
| YoY Change | 99.11% | -286.15% | 37.66% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $1.348M | -$559.0K | -$2.923M |
| YoY Change | -158.61% | -91.27% | -75.02% |
| Cash From Investing Activities | -$4.227M | -$1.738M | -$6.915M |
| YoY Change | -17.12% | -80.08% | -52.64% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $32.14M | ||
| YoY Change | 20.85% | ||
| Debt Paid & Issued, Net | $1.563M | ||
| YoY Change | 0.0% | ||
| Cash From Financing Activities | -2.184M | -14.15M | -8.563M |
| YoY Change | -0.73% | -50.83% | -0.43% |
| NET CHANGE | |||
| Cash From Operating Activities | 1.598M | 5.145M | 23.32M |
| Cash From Investing Activities | -4.227M | -1.738M | -6.915M |
| Cash From Financing Activities | -2.184M | -14.15M | -8.563M |
| Net Change In Cash | -4.813M | -11.19M | 7.843M |
| YoY Change | -154.08% | -56.46% | 161.43% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $1.598M | $5.145M | $23.32M |
| Capital Expenditures | -$5.575M | -$4.410M | -$3.992M |
| Free Cash Flow | $7.173M | $9.555M | $27.31M |
| YoY Change | -62.25% | 13.21% | -6.14% |
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<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;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:12pt;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, 2021. 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, such as Omicron; the development and availability of effective treatments and vaccines; the speed at which vaccines are administered; and how quickly and to what extent normal economic and operating conditions can resume. </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 COVID-19 pandemic has resulted in, and may continue to result in, additional governmental restrictions and regulations, which has adversely affected, and may continue to adversely affect our business and financial results. For example, pandemic related lockdowns were experienced in China throughout March 2022, which resulted in loss of automotive production. We have seen, and anticipate that we will continue to see, supply chain challenges in the automotive industry related to semiconductor devices that are used in automobiles. The current macroeconomic conditions have also increased competition for qualified employees in our industry, particularly for members of our professional service teams, and we, along with automotive OEMs, face significant competition in hiring and retaining them. In addition, a recession, depression or other sustained adverse market impact resulting from COVID-19 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> | ||
| us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="margin-top:12pt;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:4.13%;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. One customer accounted for</span><span style="color:#000000;"> </span><span style="Background-color:#FFFFFF;">11.6</span>% of our Accounts receivable, net balance at March 31, 2022.<span style="Background-color:#FFFFFF;"> One customer accounted for 12.1% of our Accounts receivable, net balance at September 30, 2021.</span></p> | ||
| CY2021Q3 | crnc |
Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLoss
|
-879000 | |
| crnc |
Accounts Receivable And Contract With Customer Assets Provision For Credit Loss
AccountsReceivableAndContractWithCustomerAssetsProvisionForCreditLoss
|
-431000 | ||
| crnc |
Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss Write Offs Net Of Recoveries
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLossWriteOffsNetOfRecoveries
|
14000 | ||
| crnc |
Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss Foreign Exchange Impact
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLossForeignExchangeImpact
|
-42000 | ||
| CY2022Q1 | crnc |
Accounts Receivable And Contract With Customer Assets Allowance For Credit Loss
AccountsReceivableAndContractWithCustomerAssetsAllowanceForCreditLoss
|
-420000 | |
| CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
86280000 | |
| CY2021Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
98662000 | |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
180706000 | ||
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
192305000 | ||
| CY2022Q1 | crnc |
Minimum Commitment Deals Of Revenue
MinimumCommitmentDealsOfRevenue
|
19900000 | |
| crnc |
Minimum Commitment Deals Of Revenue
MinimumCommitmentDealsOfRevenue
|
40100000 | ||
| crnc |
Distribution Period
DistributionPeriod
|
P5Y | ||
| crnc |
Contract Acquisition Costs
ContractAcquisitionCosts
|
7600000 | ||
| CY2021 | crnc |
Contract Acquisition Costs
ContractAcquisitionCosts
|
6900000 | |
| CY2022Q1 | crnc |
Contract Acquisition Cost Amortization
ContractAcquisitionCostAmortization
|
400000 | |
| crnc |
Contract Acquisition Cost Impairment
ContractAcquisitionCostImpairment
|
0 | ||
| CY2022Q1 | us-gaap |
Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
|
2700000 | |
| CY2021Q1 | us-gaap |
Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
|
3100000 | |
| us-gaap |
Capitalized Contract Cost Impairment Loss
CapitalizedContractCostImpairmentLoss
|
0 | ||
| us-gaap |
Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
|
4677000 | ||
| CY2021Q3 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
59143000 | |
| crnc |
Contract With Customer Asset Amount Recognized But Unbilled
ContractWithCustomerAssetAmountRecognizedButUnbilled
|
63284000 | ||
| us-gaap |
Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
|
30844000 | ||
| crnc |
Contract With Customer Foreign Exchange Impact On Ending Balance
ContractWithCustomerForeignExchangeImpactOnEndingBalance
|
5942000 | ||
| CY2022Q1 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
85641000 | |
| CY2021Q3 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
276737000 | |
| crnc |
Contract With Customer Liability Amounts Billed But Not Recognized
ContractWithCustomerLiabilityAmountsBilledButNotRecognized
|
50996000 | ||
| us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
62557000 | ||
| crnc |
Contract With Customer Liability Foreign Exchange Impact On Ending Balance
ContractWithCustomerLiabilityForeignExchangeImpactOnEndingBalance
|
3458000 | ||
| CY2022Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
261718000 | |
| CY2022Q1 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
144805000 | |
| CY2022Q1 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
156100000 | |
| CY2022Q1 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
323859000 | |
| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-476000 | |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
11163000 | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
18568000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
32104000 | ||
| us-gaap |
Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
|
3614000 | ||
| CY2022Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-476000 | |
| CY2021Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
11163000 | |
| CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
39189000 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
37743000 | |
| CY2021Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1434000 | |
| us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
573000 | ||
| CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
39189000 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
39177000 | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
39586000 | ||
| CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.01 | |
| CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.30 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.48 | ||
| CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.01 | |
| CY2021Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.28 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.47 | ||
| CY2022Q1 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
105016000 | |
| CY2022Q1 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
68749000 | |
| CY2022Q1 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
34267000 | |
| CY2021Q3 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
118612000 | |
| CY2021Q3 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
78838000 | |
| CY2021Q3 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
37774000 | |
| CY2022Q1 | us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
100000 | |
| us-gaap |
Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
|
200000 | ||
| CY2022Q1 | us-gaap |
Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
|
3200000 | |
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | ||
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | ||
| us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | ||
| CY2021Q3 | us-gaap |
Goodwill
Goodwill
|
1128511000 | |
| us-gaap |
Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
|
-4950000 | ||
| CY2022Q1 | us-gaap |
Goodwill
Goodwill
|
1123561000 | |
| us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
0 | ||
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
199534000 | |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
183587000 | |
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
15947000 | |
| CY2021Q3 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
201223000 | |
| CY2021Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
175875000 | |
| CY2021Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
25348000 | |
| CY2022Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
4000000.0 | |
| CY2021Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
5100000 | |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
9100000 | ||
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
10100000 | ||
| CY2022Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
5500000 | |
| 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. | ||
| CY2022Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.039 | |
| CY2021Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.051 | |
| CY2022Q1 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.044 | |
| CY2021Q3 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.044 | |
| CY2022Q1 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
109000 | |
| CY2021Q1 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
73000 | |
| us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
218000 | ||
| us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
214000 | ||
| CY2022Q1 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
13000 | |
| CY2021Q1 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
17000 | |
| us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
27000 | ||
| us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
32000 | ||
| CY2022Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1949000 | |
| CY2021Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1869000 | |
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
3507000 | ||
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
3940000 | ||
| CY2022Q1 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
812000 | |
| CY2021Q1 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
292000 | |
| us-gaap |
Variable Lease Cost
VariableLeaseCost
|
1689000 | ||
| us-gaap |
Variable Lease Cost
VariableLeaseCost
|
470000 | ||
| CY2022Q1 | us-gaap |
Sublease Income
SubleaseIncome
|
47000 | |
| CY2021Q1 | us-gaap |
Sublease Income
SubleaseIncome
|
51000 | |
| us-gaap |
Sublease Income
SubleaseIncome
|
95000 | ||
| us-gaap |
Sublease Income
SubleaseIncome
|
104000 | ||
| CY2022Q1 | us-gaap |
Lease Cost
LeaseCost
|
2836000 | |
| CY2021Q1 | us-gaap |
Lease Cost
LeaseCost
|
2200000 | |
| us-gaap |
Lease Cost
LeaseCost
|
5346000 | ||
| us-gaap |
Lease Cost
LeaseCost
|
4552000 | ||
| CY2022Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1800000 | |
| CY2021Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1900000 | |
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
3400000 | ||
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
4100000 | ||
| CY2022Q1 | crnc |
Finance Lease Payments
FinanceLeasePayments
|
100000 | |
| crnc |
Finance Lease Payments
FinanceLeasePayments
|
300000 | ||
| CY2021Q1 | crnc |
Finance Lease Payments
FinanceLeasePayments
|
100000 | |
| crnc |
Finance Lease Payments
FinanceLeasePayments
|
200000 | ||
| CY2022Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
3900000 | |
| CY2021Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
500000 | |
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
7000000.0 | ||
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
2500000 | ||
| CY2022Q1 | crnc |
Lessee Lease Liability Payment Due Remaining Fiscal Year
LesseeLeaseLiabilityPaymentDueRemainingFiscalYear
|
3733000 | |
| CY2022Q1 | crnc |
Lessee Lease Liability Payment Due Next Twelve Months
LesseeLeaseLiabilityPaymentDueNextTwelveMonths
|
6324000 | |
| CY2022Q1 | crnc |
Lessee Lease Liability Payment Due Year Two
LesseeLeaseLiabilityPaymentDueYearTwo
|
5508000 | |
| CY2022Q1 | crnc |
Lessee Lease Liability Payment Due Year Three
LesseeLeaseLiabilityPaymentDueYearThree
|
3688000 | |
| CY2022Q1 | crnc |
Lessee Lease Liability Payment Due Year Four
LesseeLeaseLiabilityPaymentDueYearFour
|
1944000 | |
| CY2022Q1 | crnc |
Lessee Lease Liability Payment Due After Year Four
LesseeLeaseLiabilityPaymentDueAfterYearFour
|
2470000 | |
| CY2022Q1 | us-gaap |
Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
|
1508000 | |
| CY2022Q1 | crnc |
Lessee Lease Liability Payment Due
LesseeLeaseLiabilityPaymentDue
|
23667000 | |
| CY2022Q1 | us-gaap |
Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
|
89000 | |
| CY2022Q1 | crnc |
Lessee Leases Liability Undiscounted Excess Amount
LesseeLeasesLiabilityUndiscountedExcessAmount
|
1655000 | |
| CY2022Q1 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
1419000 | |
| CY2022Q1 | crnc |
Leases Liability
LeasesLiability
|
22012000 | |
| CY2022Q1 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
425000 | |
| CY2022Q1 | crnc |
Leases Liability Current
LeasesLiabilityCurrent
|
6269000 | |
| CY2022Q1 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
994000 | |
| CY2022Q1 | crnc |
Leases Liability Noncurrent
LeasesLiabilityNoncurrent
|
15743000 | |
| CY2022Q1 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
1419000 | |
| CY2022Q1 | crnc |
Leases Liability
LeasesLiability
|
22012000 | |
| crnc |
Restructuring Reserve Settled Without Cash Adjustment
RestructuringReserveSettledWithoutCashAdjustment
|
4393000 | ||
| crnc |
Proceeds From Payments For Restructuring
ProceedsFromPaymentsForRestructuring
|
-2787000 | ||
| us-gaap |
Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
|
15000 | ||
| CY2022Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
23206000 | |
| CY2022Q1 | crnc |
Sales And Other Taxes Payable Current
SalesAndOtherTaxesPayableCurrent
|
4362000 | |
| CY2022Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
4121000 | |
| CY2022Q1 | crnc |
Accrued Cost Of Revenue Related Liabilities Current
AccruedCostOfRevenueRelatedLiabilitiesCurrent
|
3398000 | |
| CY2022Q1 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
1883000 | |
| CY2022Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
8798000 | |
| CY2022Q1 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
45768000 | |
| CY2021Q3 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
5035000 | |
| crnc |
Restructuring Charges Reversal
RestructuringChargesReversal
|
5389000 | ||
| CY2022Q1 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
3259000 | |
| crnc |
Restructuring Charges Reversal
RestructuringChargesReversal
|
1017000 | ||
| CY2022Q1 | crnc |
Restructuring Charges Reversal
RestructuringChargesReversal
|
500000 | |
| crnc |
Restructuring Charges Reversal
RestructuringChargesReversal
|
1000000.0 | ||
| 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) three percent (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 | |
| CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
10926000 | |
| CY2021Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
14144000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
16767000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
27469000 | ||
| CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
2969000 | |
| CY2021Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
17379000 | |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
22312000 | ||
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
28905000 | ||
| CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
3400000 | |
| CY2022Q1 | crnc |
Change In Income Tax Expense Benefit
ChangeInIncomeTaxExpenseBenefit
|
-2800000 | |
| CY2021Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
6200000 | |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.168 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.111 | ||
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
3700000 | ||
| CY2022Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
270813000 | |
| CY2022Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
7813000 | |
| CY2022Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
263000000 | |
| CY2022Q1 | us-gaap |
Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
|
3125000 | |
| CY2022Q1 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
10938000 | |
| CY2022Q1 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
12500000 | |
| CY2022Q1 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
262500000 | |
| CY2022Q1 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
289063000 | |
| CY2022Q1 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
18250000 | |
| CY2022Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
7813000 | |
| CY2022Q1 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
263000000 | |
| us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
1800000 | ||
| us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
2400000 |
