secwatch.observer — SEC 8-K summary
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Issuer:     CADENCE DESIGN SYSTEMS INC (CDNS)
CIK:        0000813672
Form:       8-K
Filed at:   2023-07-24T23:59:59+00:00
Accession:  0000813672-23-000040
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/813672/000081367223000040/0000813672-23-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/813672/000081367223000040/cdns-20230724.htm
  HTML page:      https://secwatch.observer/filing/0000813672-23-000040

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