earnings
confidence high
sentiment positive
materiality 0.85
Cadence Q1 revenue $902M (+23% YoY); raises FY22 guidance above prior range
CADENCE DESIGN SYSTEMS INC
2022-Q1 EPS reported
$0.85
revenue$901,766,000
- GAAP EPS $0.85 vs $0.67 YoY; non-GAAP EPS $1.17 vs $0.83 YoY.
- Q1 backlog exceeded $5 billion; operating cash flow $337M.
- FY22 revenue guidance raised to $3.395-$3.435B; non-GAAP EPS $3.89-$3.97.
- Q2 outlook: revenue $825-$845M; non-GAAP EPS $0.95-$0.99.
- Plans to repurchase at least $125M of shares in Q2 and ≥50% of FCF for FY22.