SymphonyAI targets second half 2025 IPO with $500 million in revenue run rate [Yahoo! Finance]
Cerence Inc. (CRNC)
Last cerence inc. earnings: 2/11 07:00 am
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Source: Yahoo! Finance
financial companies spot fraud, is preparing to go public in the second half of next year, its chief executive said in an interview. Sanjay Dhawan, CEO at SymphonyAI, said the firm is in talks with banks but declined to disclose details or stages of preparations. The plan to list publicly came as SymphonyAI reached $500 million in revenue run rate last year and achieved profitability, after growing revenue at a rate of about 25%, according to Dhawan. The firm, founded seven years ago by tech billionaire Romesh Wadhwani, is hoping a public listing could provide liquidity for executives and employees, as well as access to additional capital for mergers and acquisitions. The U.S. IPO market has started to show signs of recovery this year, with 86 IPOs raising $17.8 billion in the first six months, according to data from EY. KKR-backed enterprise finance platform OneStream announced on Monday plans to raise $465.5 million in an IPO later this month, which could help others gauge h
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CRNC
Earnings
- 8/8/24 - Beat
CRNC
Sec Filings
- 9/4/24 - Form 4
- 9/3/24 - Form 144
- 8/14/24 - Form SC
- CRNC's page on the SEC website