Thu, May 7, 4:23 PM
- Nuance (NASDAQ:NUAN) uses its FQ2 report to state it's adding $500M to its buyback, bringing its total aurhorization to $591.7M. $120.3M was spent in FQ2 to buy back 8.56M shares at an average price of $14.06.
- The company guided in its prepared remarks (.pdf) for FY15 (ends Sep. '15) revenue of $1.94B-$1.98B and EPS of $1.13-$1.23; the former is unfavorable to a $1.98B consensus, but the latter is above a $1.12 consensus. FQ3 guidance is for revenue of $468M-$482M and EPS of $0.25-$0.29, mostly below a consensus of $487.7M and $0.28.
- FY15 net new bookings growth guidance has been cut to 1%-4% from a prior 4%-5%. A strong dollar is now expected to have a $55M impact on FY15 revenue ($10M worse than previously forecast), and a $32M impact on net new bookings.
- Net new bookings fell 27% Y/Y in FQ2 to $304.7M, thanks largely to a $100M connected car deal booked a year ago. However, the deferred revenue balance rose 26.3% Y/Y to $637.8M.
- Healthcare revenue (47% of total revenue) -4% Y/Y; mobile/consumer +9%, enterprise -7%; imaging -7%. In addition to buybacks, EPS got a lift from a 7% Y/Y drop in GAAP operating expenses to $245.3M.
- Nuance has risen to $15.82 AH.
- FQ2 results, PR
Thu, May 7, 4:04 PM| 10 Comments
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
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
Aug. 11, 2014, 4:23 PM
- Nuance (NASDAQ:NUAN) guides in its prepared remarks (.pdf) for FQ4 revenue of $500M-$520M and EPS of $0.24-$0.29, below a consensus of $540.5M and $0.34.
- Bookings rose 16.7% Y/Y in FQ3 to $547M, a slowdown from FQ2's 43% and FQ1's 26%. However, thanks to a rapid shift towards recurring/subscription revenue streams, the deferred revenue balance rose 32% to $523.4M.
- FQ3 healthcare revenue -2% Y/Y to $240.1M; mobile & consumer -4% to $109.2M; enterprise -8% to $85.1M; imaging -16% to $52.4M.
- Healthcare revenue remains pressured by the migration to EMR systems (hurts on-demand transcription sales), and mobile/consumer was hit by weak demand for Dragon NaturallySpeaking. The shift to recurring revenue streams is affecting enterprise sales.
- Segment op. profit as a % of revenue fell to 29% from 32% a year ago, thanks in part to a 350 bps drop in gross margin to 61%.
- 65% of FQ3 revenue was recurring. Cloud monthly active users grew 57% Y/Y to 120M. Along with its results, Nuance has announced it's redeeming $250M in convertible senior notes due 2027.
- FQ3 results, PR
Aug. 11, 2014, 4:05 PM| Comment!
Aug. 10, 2014, 5:35 PM
May 8, 2014, 4:31 PM
- Nuance (NUAN) guides in its prepared remarks (.pdf) for FY14 (end in September) revenue of $2B-$2.04B, below a $2.06B consensus. Due to planned cost cuts, the company is upping its FY14 EPS guidance by $0.02 to $1.09-$1.19 (consensus is at $1.12). FQ3 EPS is expected to be in a range of $0.24-$0.29, below a $0.30 consensus.
- Bookings rose 43% Y/Y in FQ2 (up from 26% growth in FQ1) to $638M. As a result, Nuance has hiked its FY14 bookings forecast by $100M to $2.25B-$2.35B. Deferred revenue, boosted by the ongoing shift to cloud/recurring revenue streams, rose 4% Q/Q and 30% Y/Y to $504.9M.
- Gross margin fell 40 bps Q/Q and 280 bps Y/Y to 61.6%. Opex rose 7% Y/Y to $264.6M.
- NUAN now -1.2% AH. FQ2 results, PR.
May 8, 2014, 4:05 PM| Comment!
Feb. 10, 2014, 4:52 PM
- In its prepared remarks (.pdf), Nuance (NUAN) guides for FQ2 revenue of $476M-$490M and EPS of $0.21-$0.25, largely below a consensus of $497.8M and $0.25. However, FY14 (ends Sep. '14) guidance is for revenue of $2.03B-$2.19B and EPS of $1.07-$1.17, in-line with a consensus of $2.06B and $1.09.
- FQ1 bookings amounted to $637.3M, +26% Y/Y and eclipsing revenue of $490.1M. Though Nuance states one-time factors lifted bookings, it now has "additional confidence" in its FY14 bookings forecast of $2.15B-$2.25B (+12%-17% Y/Y).
- The company's deferred revenue balance (boosted by a shift to subscription revenue streams) totaled $484.3M at the end of FQ1, up 29% Y/Y.
- Healthcare sales (46% of revenue) rose 1% Y/Y in FQ1 after falling 2% in FQ4, but the division's op. margin fell to 35% from 41% a year ago. Mobile & Consumer remains weak: sales -16% vs. -24% in FQ4, with op. margin falling to 12% from 30% a year ago. Enterprise sales -8% vs. -2%, imaging -9% (unchanged).
- Nuance notes its mobile/consumer ops continue to be pressured by a shift to connected (cloud-based) solutions from pre-installed apps, a trend that lengthens revenue recognition times. Consumer PC weakness and higher spending to deploy "large, custom solutions for key customers" (Apple?) are also hurting the division's profits.
- R&D spend rose 17% Y/Y to $80.7M (contributed to margin pressure). Sales/marketing rose 2% to $118.9M.
- NUAN +0.3% AH. CC at 5PM ET. FQ1 results, PR.
Feb. 10, 2014, 4:02 PM| 1 Comment
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