Thu, Feb. 5, 5:35 PM
- Though it beat FQ1 estimates, Nuance (NASDAQ:NUAN) has guided in its prepared remarks (.pdf) for FQ2 revenue of $459M-$475M and EPS of $0.22-$0.26, below a consensus of $499.5M and $0.27. FY15 (ends Sep. '15) guidance is for revenue of $1.907B-$1.957B and EPS of $1.08-$1.18; the latter is in-line with a $1.13 consensus, but the former is below a $2.05B consensus.
- Net new bookings (excludes renewal bookings) fell 5.5% Y/Y in FQ1 to $303.8M. Nuance calls the 15 net new bookings it recorded "disappointing," and (thanks in part to forex) is lowering its FY15 net new bookings growth guidance to 4%-5% from 6%-8%.
- Thanks to the shift towards cloud/subscription revenue streams, the deferred revenue balance rose 28.2% to $484.3M. On-demand solutions made up 36% of revenue.
- Healthcare organic revenue growth was flat, mobile/consumer was -5%, enterprise -4%, and imaging -9%. Total organic growth was -3%. GAAP operating expenses rose by less than $300K Y/Y to $278.2M.
- Regarding mobile/consumer, Nuance notes mobile cloud transactions rose 66% Y/Y to 3.98B. But it also cautions it has "experienced pressure in the mobile phone industry as market share shifts among leading vendors and emerging companies, largely from China."
- FQ1 results, PR
Thu, Feb. 5, 4:04 PM| 5 Comments
Wed, Feb. 4, 5:35 PM
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Mon, Jan. 26, 2:23 PM| 5 Comments
Mon, Jan. 12, 2:21 PM
- Asian Sweeper speculates Baidu could make a bid for Nuance (NUAN +1%), given its strong interest in voice recognition. "Building an organic solution would take time, but acquiring Nuance would gap [Baidu] in a position where they could immediately apply their technology to the real world."
- Of note: Baidu has never acquired a major foreign software company, never mind one with an enterprise value above $6B. In addition, regulators might closely scrutinize any attempt by a Chinese company to buy Nuance.
- Nuance has turned positive after previously following equity markets lower. Shares slumped on Friday thanks to a Goldman downgrade.
Fri, Jan. 9, 9:25 AM
- "We do not see NUAN as a potential acquisition candidate, and see growth and margins challenged," writes Goldman's Greg Dunham, downgrading the voice recognition software/services giant to Sell.
- Goldman's LBO model suggests a -1% IRR for a Nuance LBO under its base-case scenario, compared with a 20% IRR for enterprise software vendors CommVault and Informatica.
- The WSJ reported back in June Nuance had talked with Samsung and P-E firms about a potential sale. Speculation that Carl Icahn would push the company to sell itself has been around for some time.
- Shares have made new 52-week lows. They now go for ~3x estimated FY15 (ends Sep. '15) EV/sales.
Dec. 15, 2014, 7:54 AM
- The Q-50 Index houses those companies next-eligible for inclusion into the Nasdaq 100 (NASDAQ:QQQ). Amid the Nasdaq 100's annual changes which added and dropped three from the index, the Q-50's quarterly re-ranking adds and drops eleven.
- Added: Ainylam Pharma (NASDAQ:ALNY), Expedia (NASDAQ:EXPE), F5 Networks (NASDAQ:FFIV), JD.com (NASDAQ:JD), MercadoLibre (NASDAQ:MELI), Maxim Integrated (NASDAQ:MXIM), Old Dominion Freight Line (NASDAQ:ODFL), Shire (NASDAQ:SHPG), Splunk (NASDAQ:SPLK), Stratasys (NASDAQ:SSYS), United Therapeutics (NASDAQ:UTHR).
- Dropped: Avis Budget (NASDAQ:CAR), Cree (NASDAQ:CREE), First Solar (NASDAQ:FSLR), Golar LNG (NASDAQ:GLNG), Methanex (NASDAQ:MEOH), Melco Crown (NASDAQ:MPEL), Nuance (NASDAQ:NUAN), SolarCity (NASDAQ:SCTY). Also dropped are the three Nasdaq 100 additions: American Airlines, Lam Research, and Electronic Arts.
- Source: Press Release
- Previously: Who's in, who's out in annual change to Nasdaq 100 (Dec. 13, 2014)
Nov. 25, 2014, 9:15 AM
Nov. 24, 2014, 5:43 PM
Nov. 24, 2014, 4:22 PM
- Nuance (NASDAQ:NUAN) guides in its prepared remarks (.pdf) for FQ1 revenue of $480M-$490M and EPS of $0.21-$0.23, below a consensus of $500.6M and $0.27. FY15 (ends Sep. '15) guidance is healthier: Revenue of $2.02B-$2.08B and EPS of $1.10-$1.20 vs. a consensus of $2.07B and $1.15.
- Bookings rose 24.5% Y/Y in FQ4 to $497.7M, an improvement from FQ3's 16.7% growth. FY14 bookings totaled $2.44B, +27.4% Y/Y and above guidance of $2.35B-$2.4B. 6%-8% net new bookings growth is expected in FY15.
- Healthcare revenue (responsible for nearly half of all op. profit) +3% Y/Y to $238.3M; mobile & consumer -3% to $116.9M; enterprise -4% to $95.6M; imaging +9% to $69.5M.
- Healthcare growth improved from FQ3's -2% thanks to on-demand, diagnostics, and Clintegrity sales. Mobile & consumer benefited from auto growth, and was hurt by weak phone-related sales. Though enterprise revenue is soft, bookings (boosted by Nina) are healthier.
- No buybacks took place in FQ4. GAAP opex rose 5% Y/Y to $282.2M. Thanks to a shift towards subscriptions/recurring revenue streams, Nuance's deferred revenue balance rose 32% Y/Y to $548.1M.
- FQ4 results, PR
Nov. 24, 2014, 4:04 PM| Comment!
Nov. 23, 2014, 5:35 PM
Oct. 8, 2014, 3:59 PM
- A Carl Icahn tweet promising an "interesting" open letter will be sent to Tim Cook tomorrow has prompted a fresh round of speculation that Icahn will call on Apple to buy Nuance (NUAN +0.3%). The voice recognition software vendor's shares have turned positive after spending most of the day down over 1%.
- Though Nuance's voice recognition tech helps power Siri, Apple hasn't thus far shown any interest in buying the company, which still derives nearly half its revenue and an even larger portion of its segment op. profit from healthcare products/services.
- Nuance sold off in July after Wired reported Apple had built an internal voice recognition R&D team that included ex-Nuance researchers.
Aug. 22, 2014, 5:36 PM
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