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Jeffrey Van Rhee

Partner and Senior Research Analyst at Craig-Hallum Capital Group

Jeff Van Rhee is a Partner and Senior Research Analyst at Craig-Hallum Capital Group LLC, specializing in software-centric technology companies and new space sectors. He covers specific companies including Akamai Technologies, Alkami Technology, BlackSky Technology, Fastly, LivePerson, PagerDuty, Planet Labs, Rocket Lab, and Upland Software, with a track record of recognition from The Wall Street Journal, Forbes.com/StarMine, and others for outstanding stock pick performance. Previously, he served as Managing Director and Director of Research at Investec before joining Craig-Hallum, following a B.A. in Finance and Economics from Central Michigan University. He holds the CFA charter and maintains FINRA registration as a regulated broker.

Jeffrey Van Rhee's questions to Cerence (CRNC) leadership

Question · Q1 2026

Jeffrey Van Rhee asked about the ranking and customer enthusiasm for the Mobile Work AI Agent, its potential impact on ARPUs, whether its availability for existing vehicles constitutes a revenue event, the expected growth in TTM billings and backlog by the end of Q2, and trends in usage of existing in-car connected systems.

Answer

CEO Brian Krzanich explained that the Microsoft 365 Mobile Work Agent is cloud-based, does not require xUI, and can be deployed on existing connected vehicles, generating significant OEM interest and acting as a revenue event that will add to PPU. He noted that revenue from new xUI deals will ramp from late summer. CFO Tony Rodriguez confirmed that new deals will be reflected in the five-year backlog next quarter. Brian Krzanich also stated that usage of older systems drops off, but newer systems like Cerence Assistant show stronger usage, which is expected to increase further with additions like Microsoft 365.

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Question · Q1 2026

Jeffrey Van Rhee inquired about the Mobile Work AI Agent's market position, customer enthusiasm, and its potential impact on average revenue per user (ARPU), including whether its deployment on existing vehicles generates revenue. He also asked about the expected influence of recent significant bookings on Q2 trailing twelve-month (TTM) billings and backlog, and current usage trends for in-car connected systems.

Answer

CEO Brian Krzanich clarified that the Microsoft 365 agent is cloud-based, compatible with existing vehicles, and will be a revenue event, adding to PPU. He noted strong OEM interest for both new xUI systems and older vehicles. CFO Tony Rodriquez confirmed that new contracts will be reflected in the five-year backlog next quarter. Brian Krzanich added that newer Cerence Assistant and xUI systems show stronger usage rates, especially with enhanced functionalities.

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