---
schema_version: "secwatch.filing_event.v1"
accession: "0000813672-24-000083"
form_type: "8-K"
ticker: "CDNS"
cik: "0000813672"
company_name: "CADENCE DESIGN SYSTEMS INC"
filed_at: "2024-04-22T23:59:59+00:00"
generated_at: "2026-06-03T14:57:12.496590+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cadence Q1 revenue $1.009B, GAAP EPS $0.91; backlog record $6B, raises 2024 revenue outlook

## Summary
- Q1 revenue $1.009B vs $1.022B Q1 2023; GAAP EPS $0.91 vs $0.89; non-GAAP EPS $1.17 vs $1.29.
- Record Q1 backlog $6.0B; cRPO $3.1B; recurring revenue 90% of Q1 sales.
- FY 2024 revenue guidance raised to $4.56B-$4.62B, GAAP EPS $4.04-$4.14, non-GAAP $5.88-$5.98.
- Q2 2024 guidance: revenue $1.03B-$1.05B, GAAP EPS $0.73-$0.77, non-GAAP $1.20-$1.24.
- Operating cash flow $253M in Q1; share repurchases $125M; pending BETA CAE acquisition not in outlook.

## SEC filing metadata
- accession: 0000813672-24-000083
- form_type: 8-K
- ticker: CDNS
- cik: 0000813672
- company_name: CADENCE DESIGN SYSTEMS INC
- filed_at: 2024-04-22T23:59:59+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/813672/000081367224000083/0000813672-24-000083-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/813672/000081367224000083/cdns-20240422.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000813672-24-000083
- JSON: https://secwatch.observer/filing/0000813672-24-000083.json
- Plain text: https://secwatch.observer/filing/0000813672-24-000083.txt

## Key facts
- Earnings Releases
  CADENCE DESIGN SYSTEMS INC reported the first quarter of 2024 results: revenue $1.009 billion, EPS $0.91. Guidance raised.
  - Period: the first quarter of 2024
  - Revenue: $1.009 billion
  - EPS: $0.91
  - Guidance: raised
  - Result: reported results
  source text: Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the first quarter of 2024. First Quarter 2024 Financial Results • Revenue of $1.009 billion, compared to revenue of $1.022 billion in Q1 2023 • GAAP operating margin of 25%, compared to 32% in Q1 2023 • Non-GAAP operating margin of 38%, compared to 42% in Q1 2023 • GAAP diluted net income per share of $0.91, compared to $0.89 in Q1 2023 • Non-GAAP diluted net income per share of $1.17, compared to $1.29 in Q1 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/813672/000081367224000083/0000813672-24-000083-index.htm

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