Cadence Q1 revenue $1.02B, beats; raises FY23 revenue guidance to ~14% growth

CADENCE DESIGN SYSTEMS INC

2023-Q1 EPS reported $0.89 revenue$1,021,690,000

Q1 revenue $1.022B (+13% YoY); GAAP EPS $0.89 vs $0.85 YoY; non-GAAP EPS $1.29 vs $1.17.
FY23 revenue guidance raised to $4.03-$4.07B (prior $4.00-$4.06B); non-GAAP EPS raised to $4.96-$5.04.
Q1 GAAP operating margin 32%, non-GAAP 42%; operating cash flow $267M, FCF $241M.
Q2 outlook: revenue $960-$980M; non-GAAP EPS $1.15-$1.19.
Backlog $5.4B; repurchased $125M in shares during Q1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CADENCE DESIGN SYSTEMS INC reported Fiscal year 2023 results: revenue $4.03 billion to $4.07 billion, EPS $3.26 to $3.34. Guidance raised.

Period: Fiscal year 2023
Revenue: $4.03 billion to $4.07 billion
EPS: $3.26 to $3.34
Guidance: raised
Result: guidance update

Exact text from the filing

For fiscal year 2023, the company expects total revenue in the range of $4.03 billion to $4.07 billion. On a GAAP basis, operating margin for 2023 is expected to be in the range of 30 percent to 31 percent and GAAP net income per diluted share for 2023 is expected to be in the range of $3.26 to $3.34.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CADENCE DESIGN SYSTEMS INC reported First quarter 2023 results: revenue $1.022 billion, net income $242 million, EPS $0.89.

Period: First quarter 2023
Revenue: $1.022 billion
Net income: $242 million
EPS: $0.89
Result: reported results

Exact text from the filing

Cadence reported first quarter 2023 revenue of $1.022 billion, compared to revenue of $902 million for the same period in 2022. On a GAAP basis, Cadence achieved operating margin of 32 percent and recognized net income of $242 million, or $0.89 per share on a diluted basis, in the first quarter of 2023

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13 earnings releases filed in the last 30 days. Browse all earnings releases →

CADENCE DESIGN SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0000813672-23-000024

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