Cadence Q4 rev $1.07B, FY rev $4.09B (+15%); GAAP EPS $3.82, non-GAAP $5.15

CADENCE DESIGN SYSTEMS INC

2023-FY EPS reported $3.82 revenue$4,089,986,000

Q4 revenue $1.069B (+18.8% YoY); GAAP EPS $1.19, non-GAAP $1.38.
FY2023 revenue $4.090B (+15% YoY); GAAP EPS $3.82 (+24%), non-GAAP $5.15 (+21%).
Record backlog $6.0B, cRPO $3.2B; non-GAAP operating margin 42%.
FY2024 guidance: revenue $4.55-4.61B, non-GAAP EPS $5.87-5.97.
System Design & Analysis grew 22% YoY; GenAI customer adoption nearly 10x.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CADENCE DESIGN SYSTEMS INC reported the fourth quarter and fiscal year ended December 31, 2023 results: revenue $1.069 billion, EPS $1.19. Guidance initiated.

Period: the fourth quarter and fiscal year ended December 31, 2023
Revenue: $1.069 billion
EPS: $1.19
Guidance: initiated
Result: reported results

Exact text from the filing

12, 2024 — Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the fourth quarter and fiscal year 2023. Fourth Quarter 2023 Financial Highlights • Revenue of $1.069 billion, compared to revenue of $900 million in Q4 2022 • GAAP operating margin of 31%, compared to 23% in Q4 2022 • Non-GAAP operating margin of 43%, compared to 36% in Q4 2022 • GAAP

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CADENCE DESIGN SYSTEMS INC filing history →

Source: SEC EDGAR

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