Adjusted gross margin expanded by 1,400 bps to 72.9%. Adjusted EPS of $0.09 missed the consensus of $0.15.

Adjusted operating margin was 17.8%, versus (9.8)% in the year-ago period. Adjusted EBITDA margin was 20.5%, versus (5.3)% a year ago.

The company exited the quarter with cash and equivalents worth $110.4 million.

CEO Stefan Ortmanns said, "During the year, we won more than a dozen strategic deals in our core auto business, including five winbacks. In addition, we made strong progress in transportation adjacencies like two-wheelers and trucks. We are becoming a primary supplier of conversational AI technology in the two-wheeler space, having won every two-wheeler deal we've pitched." 

Price Action: CRNC shares traded higher by 4.68% at $18.10 premarket on the last check Monday.