secwatch.observer — SEC 8-K summary
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Issuer:     CADENCE DESIGN SYSTEMS INC (CDNS)
CIK:        0000813672
Form:       8-K
Filed at:   2024-04-22T23:59:59+00:00
Accession:  0000813672-24-000083
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/813672/000081367224000083/0000813672-24-000083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/813672/000081367224000083/cdns-20240422.htm
  HTML page:      https://secwatch.observer/filing/0000813672-24-000083

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