Nuance Delivers ‘Strong’ Revenues, EPS, New Bookings, Recurring Revenue for Second Quarter
On May 9th, Nuance Communications reported financial results for its second quarter of its fiscal 2017 year, with its second quarter ending on March 31, 2017. It says its second-quarter performance was led by “increased bookings and revenue” for its solutions that combine speech and natural language technologies with artificial intelligence, particularly Enterprise omni-channel and biometrics offerings, Dragon Medical cloud, and automotive offerings.
Second-quarter revenue was $499.6 million, compared to $478.7 million a year ago, and total recurring revenue represented 74 percent of total revenue. Nuance also reported new bookings of $410.4 million, up 31 percent from $313.7 million a year ago.
However, the firm also reported a net loss of $33.8 million, or $0.12 per share, compared to a net loss of $7.0 million, or $0.02 per share, for second-quarter 2016.
The firm says that non-GAAP (Generally Accepted Accounting Principles) net income was $92.8 million, or $0.32 per diluted share, up from non-GAAP net income of $86.4 million, or $0.29 per diluted share, in second-quarter 2016.
Nuance CFO Dan Tempesta commented: “Nuance delivered strong performance in the second quarter driven by demand for our enhanced solutions. We reported solid results in each of our key financial metrics including net new bookings, revenue, recurring revenue, and EPS. Our first half 2017 performance, along with our outlook for the third quarter and rest of the year, provide us with the confidence that we will maintain our momentum while, remaining focused on organic revenue growth and cost and expense discipline.”
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