secwatch.observer — SEC 8-K summary
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Issuer:     CADENCE DESIGN SYSTEMS INC (CDNS)
CIK:        0000813672
Form:       8-K
Filed at:   2023-04-24T23:59:59+00:00
Accession:  0000813672-23-000024
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/813672/000081367223000024/0000813672-23-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/813672/000081367223000024/cdns-20230424.htm
  HTML page:      https://secwatch.observer/filing/0000813672-23-000024

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