---
schema_version: "secwatch.filing_event.v1"
accession: "0000813672-23-000067"
form_type: "8-K"
ticker: "CDNS"
cik: "0000813672"
company_name: "CADENCE DESIGN SYSTEMS INC"
filed_at: "2023-10-23T23:59:59+00:00"
generated_at: "2026-06-09T17:43:52.188648+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cadence beats Q3 estimates, raises FY2023 guidance on strong design activity

## Summary
- Q3 revenue $1.023B (+13% YoY), non-GAAP EPS $1.26 vs $1.06 YoY; GAAP EPS $0.93.
- FY2023 revenue outlook raised to $4.06-$4.10B; non-GAAP EPS raised to $5.07-$5.13.
- Q3 non-GAAP operating margin 41.1% (up from 39.4% YoY); FY midpoint raised to 41.75%.
- Q4 guidance: revenue $1.039-$1.079B, non-GAAP EPS $1.30-$1.36.
- CEO cites AI, HPC, autonomous driving as growth drivers; operating cash flow $396M.

## SEC filing metadata
- accession: 0000813672-23-000067
- form_type: 8-K
- ticker: CDNS
- cik: 0000813672
- company_name: CADENCE DESIGN SYSTEMS INC
- filed_at: 2023-10-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/813672/000081367223000067/0000813672-23-000067-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/813672/000081367223000067/cdns-20231023.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000813672-23-000067
- JSON: https://secwatch.observer/filing/0000813672-23-000067.json
- Plain text: https://secwatch.observer/filing/0000813672-23-000067.txt

## Key facts
- Earnings Releases
  CADENCE DESIGN SYSTEMS INC reported the third quarter of 2023 results: revenue $1.023 billion, net income $254 million, EPS $0.93 per share on a diluted basis. Guidance raised.
  - Period: the third quarter of 2023
  - Revenue: $1.023 billion
  - Net income: $254 million
  - EPS: $0.93 per share on a diluted basis
  - Guidance: raised
  - Result: reported results
  source text: Cadence reported third quarter 2023 revenue of $1.023 billion
  evidence_url: https://www.sec.gov/Archives/edgar/data/813672/000081367223000067/0000813672-23-000067-index.htm

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