Exhibit 99.1
 
 
 
2020 Fourth Quarter and Fiscal Year Results
 
 
Press release
 
 
November 18, 2020
 
 



Nuance Announces Fourth Quarter and Fiscal Year 2020 Results

Delivered Revenue and EPS at high end of guidance range
Continued strength in Dragon Medical One and emerging cloud-based Healthcare offerings
Announced divestiture of medical transcription and EHR Go-Live services
Provided FY'21 guidance and updating mid-term guidance

BURLINGTON, Mass., November 18, 2020 - Nuance Communications, Inc. (NASDAQ: NUAN) today announced financial results for its fourth quarter and fiscal year ended September 30, 2020:

GAAP revenue of $352.9 million and GAAP earnings per diluted share of $(0.08).
Non-GAAP revenue of $352.9 million and non-GAAP earnings per diluted share of $0.18.

“We are very pleased with the strong end to our fiscal year, as we delivered revenue and EPS at the high end of our guidance range,” said Mark Benjamin, Chief Executive Officer at Nuance. “We continued to execute on our strategic initiatives, accelerating our cloud transition in Healthcare and focusing on our AI-first approach in Enterprise. In Healthcare, we drove solid growth in our cloud offerings, ending the year at $386 million in cloud-based ARR, up 29% for the full year. In particular, we benefited from strong performance in Dragon Medical Cloud, which grew 38% compared to 2019, as well as growth in our PowerScribe One and CDE One offerings, as we continue to transition our customer base to the cloud. Enterprise revenue increased 4% compared to 2019, marking our fifth consecutive year of organic growth. This growth was driven by strength in our Intelligent Engagement offerings."

Mr. Benjamin concluded, "In a separate release today, as part of our ongoing effort to align our portfolio with key strategic growth areas, we announced the planned sale of our medical transcription and electronic health record (EHR) Go-Live services to Assured Healthcare Partners and Aeries Technology Group. With this sale, we will reach an important milestone in our journey towards a more focused strategy of advancing our Conversational AI, natural language understanding and ambient clinical intelligence solutions. This crucial step in our portfolio rationalization efforts places Nuance in a strong position to achieve levels of organic growth not seen in many years, and I look forward to continuing on this path in the quarters to come."


Q4 2020 Performance Summary
Q4 2020 results for continuing operations include:
Revenue of $352.9 million, compared to $387.6 million in the same period last year.
Non-GAAP revenue of $352.9 million, compared to $387.8 million in the same period last year.
GAAP operating income of $12.9 million, compared to $30.8 million in the same period last year.
Non-GAAP operating income of $76.3 million, compared to $94.1 million in the same period last year.
GAAP operating margin of 3.7%, compared to 7.9% in the same period last year.
Non-GAAP operating margin of 21.6%, compared to 24.3% in the same period last year.
GAAP net loss of $22.8 million, compared to a net income of $3.0 million in the same period last year.
Non-GAAP net income of $54.2 million, compared to $65.9 million in the same period last year.

                                                                                                                                                                                             
nuancelogohorzka21.jpg
 
© 2020 Nuance Communications, Inc. All rights reserved
 

The following information was filed by Nuance Communications, Inc. (NUAN) on Wednesday, November 18, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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