secwatch.observer — SEC 8-K summary
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Issuer:     CADENCE DESIGN SYSTEMS INC (CDNS)
CIK:        0000813672
Form:       8-K
Filed at:   2022-10-24T23:59:59+00:00
Accession:  0000813672-22-000053
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cadence Q3 revenue $903M (+20% YoY); GAAP EPS $0.68, non-GAAP EPS $1.06; raises FY22 outlook
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- Q3 GAAP net income $186M ($0.68 diluted EPS) vs $176M ($0.63) YoY; non-GAAP net income $290M ($1.06).
- Q3 revenue $903M vs $751M YoY; GAAP operating margin 29%, non-GAAP 39%.
- FY22 revenue guidance raised to $3.532-3.552B; non-GAAP EPS raised to $4.20-4.24.
- OpenEye acquisition closed Aug 31; FY22 outlook includes latest China export controls.
- Expects $300M share repurchase in Q4; operating cash flow YTD $979M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/813672/000081367222000053/0000813672-22-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/813672/000081367222000053/cdns-20221024.htm
  HTML page:      https://secwatch.observer/filing/0000813672-22-000053

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer