secwatch.observer — SEC 8-K summary
======================================

Issuer:     CADENCE DESIGN SYSTEMS INC (CDNS)
CIK:        0000813672
Form:       8-K
Filed at:   2024-02-12T23:59:59+00:00
Accession:  0000813672-24-000030
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/813672/000081367224000030/0000813672-24-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/813672/000081367224000030/cdns-20240212.htm
  HTML page:      https://secwatch.observer/filing/0000813672-24-000030

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer