Core Insights - ECARX Holdings Inc. reported a historic revenue high of US$304.7 million for Q4 2025, marking a 13% year-over-year increase, and achieved positive net income for the second consecutive quarter [1][2] - The company’s total revenue for the full year 2025 reached US$847.9 million, reflecting a 10% increase from US$771.5 million in 2024, demonstrating resilience amid macroeconomic challenges [1][3] - ECARX is focused on sustainable growth and expanding its global footprint, particularly through partnerships, such as with Volkswagen Group for digital cockpit solutions in Latin America [1][2] Financial Performance - Q4 2025 total revenue was US$304.7 million, with service revenue at US$33.2 million (down 27% YoY), software license revenue at US$2.0 million (down 84% YoY), and sales of goods revenue at US$269.5 million (up 27% YoY) [1][3] - For the full year 2025, service revenue was US$115.1 million (down 2% YoY), software license revenue was US$29.7 million (down 30% YoY), and sales of goods revenue was US$703.1 million (up 15% YoY) [1][3] Business Development Highlights - The company is actively pursuing regulatory approvals in the US to engage with local automakers, aiming to expand its addressable market [1][2] - ECARX has deepened its partnership with Volkswagen Group, securing a second agreement for digital cockpit solutions for multiple models in Latin America [1][2] - As of December 31, 2025, approximately 11 million vehicles on the road are equipped with ECARX technologies [1][2] Technological Advancements - The adoption of the Cloudpeak® software stack is enhancing the company's leadership in AI-powered cockpit solutions, integrating AI agents and generative UIs for an improved in-vehicle experience [2] - The global launch of Geely's flagship Galaxy M9 features the Pikes® computing platform and Cloudpeak® software stack, showcasing the company's technological capabilities [2]

Core Insights - Seeing Machines Ltd's CEO Paul McGlone reported positive growth in Q2, driven by automotive royalties, Guardian hardware sales, and increasing annual recurring revenue as regulatory pressures build towards the July 2026 General Safety Regulation (GSR) deadline [1][2]. Group 1: Financial Performance - The company experienced a positive growth number in Q2, indicating confidence that regulatory drivers will lead to increased volumes [2]. - Actual production volumes in Q2 exceeded minimum guarantees for the first time under guaranteed volume arrangements, enhancing confidence for Q3 and Q4 [4]. Group 2: Regulatory Environment - OEM compliance preparations for GSR are progressing well, with all necessary integration work completed ahead of the 2026 deadline [2]. - Delays in RFQs across the automotive market are attributed to broader industry uncertainty but do not impact GSR-related production volumes, as current RFQs will not affect revenue until 2028 at the earliest [3]. Group 3: Strategic Positioning - The company holds incumbency advantages in Europe, positioning it strongly ahead of GSR enforcement [5]. - Expectations are set for cash flow breakeven in Q3 and profitability in the second half of the year [5].

Core Viewpoint - ECARX Holdings Inc. has successfully completed the issuance of US$100 million in convertible notes, which will enhance its capital structure and support its global expansion strategy [1]. Group 1: Convertible Notes Issuance - The US$100 million in convertible notes, referred to as the "2025 Notes," has been fully subscribed as of February 9, 2026 [1]. - The issuance included US$35 million purchased by the Initial Investor on November 14, 2025, followed by US$25 million from another investor on November 26, 2025, and the remaining US$40 million purchased by a consortium of investors [1]. - The initial conversion price for the 2025 Notes is set at US$2.62, subject to customary adjustments [1]. Group 2: Strategic Partnerships and Funding - In 2025, ECARX secured two major projects from Volkswagen Group and established technology partnerships with several global luxury automotive brands [1]. - The completion of the convertible notes transaction allowed ECARX to refinance US$65 million of previous convertible notes and obtain an additional US$35 million in funding [1]. - This funding, combined with a US$45.6 million strategic investment from Geely in January 2026, provides ECARX with ample liquidity to pursue its vision of becoming a leading innovator in Automotive Physical AI technology [1]. Group 3: Company Overview - ECARX is a global automotive technology provider that delivers turnkey solutions for next-generation smart vehicles, including system-on-a-chip (SoC) and central computing platforms [1]. - Founded in 2017 and listed on Nasdaq in 2022, ECARX has over 1,500 employees across 13 major locations worldwide [1]. - The company's products are currently utilized in approximately 10 million vehicles globally [1].

Core Viewpoint - VisionWave Holdings, Inc. successfully demonstrated SaverOne's VRU radio-frequency sensing platform, showcasing its ability to detect vulnerable road users in complex environments [1][2]. Group 1: Demonstration Details - The demonstration illustrated the platform's capability to detect pedestrians in various non-line-of-sight scenarios, including nighttime conditions [3]. - The RF-based sensing technology provides earlier awareness and critical reaction time compared to traditional systems that rely on visual input [5][10]. - The system was able to detect two pedestrians obscured by vehicles and in total darkness, highlighting its effectiveness in real-world complexities [8]. Group 2: Strategic Developments - VisionWave and SaverOne have entered a strategic exchange agreement, allowing VisionWave to potentially acquire up to 51% of SaverOne upon meeting specific milestones and regulatory approvals [4]. - The technology is protected by issued and pending patents, aligning with VisionWave's strategy in advanced perception and autonomous systems [11]. Group 3: Future Applications - VisionWave is exploring applications of the RF detection technology beyond automotive safety, including transportation, infrastructure, and security environments [7][9]. - The company is also considering potential uses in defense contexts, such as unmanned aerial systems and ground vehicles [9].

Core Insights - VisionWave Holdings, Inc. successfully demonstrated SaverOne's VRU radio-frequency sensing platform, showcasing its ability to detect human presence in complex environments [1][2] - The demonstration highlighted the platform's advantages over traditional ADAS solutions, particularly in scenarios where visibility is limited [5][10] Technology and Capabilities - SaverOne's VRU platform can detect vulnerable road users even when they are obscured or outside the direct line of sight, including in adverse weather and urban clutter [5][6] - The system analyzes RF interactions from mobile devices carried by pedestrians, enabling earlier detection and trajectory assessment [6] - During the demonstration, the system successfully identified pedestrians hidden by vehicles and in total darkness, illustrating its effectiveness in real-world conditions [9] Strategic Developments - VisionWave and SaverOne have entered a strategic exchange agreement, allowing VisionWave to potentially acquire up to 51% of SaverOne upon meeting certain milestones and regulatory approvals [4] - The company is exploring broader applications of the RF detection technology beyond automotive safety, including transportation, infrastructure, and security environments [7][8] Future Outlook - VisionWave plans to collaborate closely with SaverOne's engineering team to advance the development of the VRU technology and assess commercialization pathways, initially focusing on automotive and transportation markets [10] - The technology is protected by issued and pending patents, aligning with VisionWave's strategy in advanced perception and autonomous systems [11]

Financial Data and Key Metrics Changes - Cerence reported revenue of $115.1 million for Q1 2026, a 126% increase from $50.9 million in the prior year period [17] - Adjusted EBITDA was $44.6 million, representing a 39% margin compared to $1.4 million or 3% in the prior year [22] - The company generated record quarterly free cash flow of $35.6 million, marking a significant achievement [4][23] - GAAP net loss for the quarter was $5.2 million, an improvement from a net loss of $24.3 million in the same quarter last year [22] Business Line Data and Key Metrics Changes - Variable license revenue was $30.5 million, up 34% year-over-year, driven by steady customer utilization [18] - Fixed license revenue was $7.8 million, with expectations for it to be comparable to the prior year for the full fiscal year [18] - Connected services revenue was $14.5 million, up 6% year-over-year, with a potential increase of over 20% without prior year true-up [19] Market Data and Key Metrics Changes - Approximately 11.9 million cars produced included Cerence technology, flat from the prior year [24] - The number of connected cars shipped grew by 14% on a trailing 12-month basis [24] - 51% of worldwide auto production included Cerence technology, consistent with historical penetration [24] Company Strategy and Development Direction - Cerence's three key priorities for 2026 include advancing technology through xUI, maintaining cost diligence, and driving top-line growth [4] - The company showcased advancements in xUI at CES, including new AI agents and partnerships with Microsoft [5][6] - Cerence aims to expand its reach beyond automotive, with plans to operationalize strategies in new industries [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's technology and customer momentum, anticipating continued growth in fiscal 2026 [15][27] - The resolution of the patent suit with Samsung, resulting in a one-time payment of $49.5 million, was highlighted as a significant milestone [15] - For Q2, Cerence expects revenue between $58 million and $62 million, reaffirming full-year guidance of $300 million to $320 million [26] Other Important Information - The company completed a restructuring plan to reduce operating expenses and improve profitability [9] - Total non-GAAP operating expenses increased to $57.3 million, primarily due to legal costs associated with the patent license outcome [21] Q&A Session Summary Question: Interest in the mobile work agent and its impact on ARPU - Management indicated strong interest in the mobile work agent, which can be implemented in existing vehicles, potentially increasing ARPU [30][32] Question: Impact of new signings on TTM billings and backlog - Management confirmed that new signings will be reflected in the five-year backlog and TTM billings, with revenue expected to ramp up as production starts [34][38] Question: Usage trends of existing in-car connected systems - Management noted that usage of newer systems is increasing, especially with added functionalities like Microsoft 365 integration [40] Question: Competitive process for new wins and future win rates - Management highlighted that technology capability and team confidence are key differentiators in winning contracts, with a strong pipeline of interest from both Western and Chinese OEMs [44][55]

Financial Data and Key Metrics Changes - The company reported revenue of $115.1 million for Q1 2026, a significant increase of 126% from $50.9 million in the prior year period [16] - Adjusted EBITDA for the quarter was $44.6 million, representing a margin of 39%, compared to $1.4 million or 3% in the prior year [20] - The company generated record quarterly free cash flow of $35.6 million, marking a strong performance in cash generation [4][22] - GAAP net loss for the quarter was $5.2 million, an improvement from a net loss of $24.3 million in the same quarter last year [21] Business Line Data and Key Metrics Changes - Variable license revenue was $30.5 million, up 34% year-over-year, driven by steady customer utilization and adoption across core programs [17] - Fixed license revenue was $7.8 million, with a timing difference affecting year-over-year comparisons [17] - Connected services revenue was $14.5 million, up 6% year-over-year, with a potential increase of over 20% when excluding a prior year true-up benefit [18] Market Data and Key Metrics Changes - Approximately 11.9 million cars produced in the quarter included Cerence technology, flat compared to the prior year [22] - The number of connected cars shipped grew by 14% on a trailing 12-month basis, indicating strong momentum in vehicle connectivity [23] - 51% of worldwide auto production included Cerence technology, consistent with historical penetration rates [23] Company Strategy and Development Direction - The company has three key priorities for 2026: advancing business through leading technology, maintaining cost diligence, and driving top-line growth [4] - The introduction of new AI agents expands the company's reach beyond in-vehicle experiences into broader areas of the automotive ecosystem [8] - The company aims to increase adoption of Cerence XUI and drive greater penetration of its stack in existing programs, which is expected to deliver increased per unit pricing (PPU) [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's technology and customer momentum, indicating a solid foundation for long-term sustainable growth [14][25] - The company reaffirmed its full-year guidance for fiscal 2026, expecting revenue between $300 million and $320 million and adjusted EBITDA between $50 million and $70 million [25] - Management highlighted the positive reception of new products and the potential for growth in non-automotive businesses, with expected revenue impacts starting in late fiscal year 2026 [13] Other Important Information - The company recorded $49.5 million in patent license revenue from the resolution of litigation with Samsung, marking a significant milestone in its IP monetization strategy [14][18] - The company repurchased $30 million in principal value of its 2028 convertible notes, demonstrating a commitment to deleveraging its balance sheet [22] Q&A Session Summary Question: Interest in the mobile work agent and its impact on ARPU - Management indicated strong demand for the mobile work agent, which can be implemented in existing vehicles, potentially increasing ARPU [28][30] Question: Impact of new signings on TTM billings and backlog - Management confirmed that new signings would contribute to TTM billings and backlog, with revenue recognition starting as vehicles are produced and sold [32][36] Question: Trends in usage of existing in-car connected systems - Management noted that usage of connected systems has improved with newer technology, particularly with the introduction of LLMs [37] Question: Competitive process for new wins and future win rates - Management highlighted that technology capability and team confidence are key differentiators in winning contracts, with a strong pipeline of interest from both Western and Chinese OEMs [41][53]

Cerence Q1 February 4, 2026 Brian Krzanich, Chief Executive Officer Tony Rodriquez, Chief Financial Officer Forward-Looking Statements Statements in this presentation as well as oral statements made by Cerence management from time to time, regarding: Cerence's future performance, results and financial condition; expected growth, profitability and cash flow; outlook and momentum; transformation plans and cost efficiency initiatives; strategy; opportunities; business, industry and market trends; plans and exp ...

Core Insights - Cerence Inc. reported strong Q1 fiscal year 2026 results, achieving a GAAP revenue of $115.1 million, significantly up from $50.9 million in Q1 FY25, with a gross margin of 86.3% compared to 65.0% in the previous year [4][6] - The company experienced a record free cash flow of $35.6 million, reflecting disciplined execution and profitability [6][10] - Cerence's customer momentum is accelerating, with five major programs in progress and positive feedback from CES 2026, showcasing next-generation AI experiences [3][6] Financial Performance - GAAP total operating expenses for Q1 FY26 were $70.0 million, up from $50.0 million in Q1 FY25, while non-GAAP total operating expenses were $57.3 million compared to $34.1 million [4][5] - The net loss for Q1 FY26 was $5.2 million, an improvement from a net loss of $24.3 million in Q1 FY25 [4][6] - Adjusted EBITDA for the quarter was $44.6 million, a significant increase from $1.4 million in the same quarter last year [4][6] Key Performance Indicators - Cerence's technology was present in 51% of worldwide auto production over the trailing twelve months [7] - The number of Cerence connected cars shipped increased by 14% year-over-year [7] - Adjusted total billings showed a 2% increase year-over-year [7] Guidance and Outlook - For Q2 FY26, Cerence expects revenue between $58 million and $62 million, with gross margins projected between 71% and 72% [9][10] - The full fiscal year 2026 guidance remains reaffirmed, with expected revenue in the range of $300 million to $320 million and adjusted EBITDA projected between $50 million and $70 million [10][11]

Core Insights - Lear Corporation reported a revenue of $6.0 billion for Q4 2025, marking a 5% increase from $5.7 billion in Q4 2024 [4][6] - The company achieved a net income of $83 million and an adjusted net income of $179 million in Q4 2025, compared to $88 million and $161 million in Q4 2024, respectively [4][9] - For the full year 2025, Lear's revenue was $23.3 billion, flat compared to 2024, with a net income of $437 million and adjusted net income of $686 million [4][10][11] Fourth Quarter 2025 Highlights - Core operating earnings for Q4 2025 were $259 million, slightly up from $258 million in Q4 2024 [4][8] - Earnings per share (EPS) were $1.58, with adjusted EPS at $3.41, compared to $1.61 and $2.94 in Q4 2024 [4][9] - Net cash provided by operating activities was $476 million, with free cash flow of $281 million, down from $681 million and $489 million in Q4 2024 [4][9] Full Year 2025 Highlights - Core operating earnings for the full year were $1,062 million, down from $1,096 million in 2024 [4][11] - Adjusted earnings per share for 2025 were $12.80, compared to $12.62 in 2024, marking the fifth consecutive year of adjusted EPS growth [4][14] - The company repurchased $325 million of shares and paid $165 million in dividends during 2025 [4][12] Operational Performance - Lear secured $1.4 billion in E-Systems business awards, the largest annual total in over a decade [4][5] - The company achieved record operating performance of $195 million, generating 60 basis points in Seating and 110 basis points in E-Systems [4][5] - Lear was awarded several complete seat programs with major automakers, including General Motors and key Chinese domestic automakers [4][5] Financial Outlook for 2026 - The company anticipates net sales for 2026 to be between $23.21 billion and $24.01 billion [4][19] - Core operating earnings are projected to be between $1.03 billion and $1.20 billion, with adjusted EBITDA expected to range from $1.65 billion to $1.82 billion [4][19] - The financial outlook assumes a 1% decrease in global industry production compared to 2025 [4][18]