---
schema_version: "secwatch.filing_event.v1"
accession: "0000813672-23-000040"
form_type: "8-K"
ticker: "CDNS"
cik: "0000813672"
company_name: "CADENCE DESIGN SYSTEMS INC"
filed_at: "2023-07-24T23:59:59+00:00"
generated_at: "2026-06-13T04:38:33.910854+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000813672-23-000040
- form_type: 8-K
- ticker: CDNS
- cik: 0000813672
- company_name: CADENCE DESIGN SYSTEMS INC
- filed_at: 2023-07-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/813672/000081367223000040/0000813672-23-000040-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/813672/000081367223000040/cdns-20230724.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000813672-23-000040
- JSON: https://secwatch.observer/filing/0000813672-23-000040.json
- Plain text: https://secwatch.observer/filing/0000813672-23-000040.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/813672/000081367223000040/0000813672-23-000040-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.