Cadence Q2 EPS $0.81/$1.22 GAAP/non-GAAP; raises FY23 revenue & EPS guidance

CADENCE DESIGN SYSTEMS INC

2023-Q2 EPS reported $1.70 revenue$1,998,269,000

Q2 revenue $977M (+14% YoY); GAAP EPS $0.81 vs $0.68 YoY; non-GAAP EPS $1.22 vs $1.08.
FY23 revenue guidance raised to $4.05-4.09B; non-GAAP EPS raised to $5.05-5.11 (19% YoY growth).
Q3 outlook: revenue $990M-1.01B, GAAP EPS $0.76-0.80, non-GAAP EPS $1.18-1.22.
Operating cash flow Q2 $414M; FY23 OCF guidance $1.3-1.4B; Q2 share repurchases $265M.
Backlog $5.3B; recurring revenue 85% of Q2 revenue; headcount 10,832.

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 the quarter ended June 30, 2023 results: revenue $977 million, net income $221 million, EPS $0.81 per share on a diluted basis. Guidance raised.

Period: the quarter ended June 30, 2023
Revenue: $977 million
Net income: $221 million
EPS: $0.81 per share on a diluted basis
Guidance: raised
Result: reported results

Exact text from the filing

Cadence reported second quarter 2023 revenue of $977 million, compared to revenue of $858 million for the same period in 2022. On a GAAP basis, Cadence achieved operating margin of 31 percent and recognized net income of $221 million, or $0.81 per share on a diluted basis, in the second quarter of 2023

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Source: SEC EDGAR

accession 0000813672-23-000040

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