Quarterly ResultApr 27, 2026, 04:09 PM
CDNS Q1 Revenue $1.474B, EPS $1.96; Raises 2026 Revenue Outlook
AI Summary
Cadence Design Systems, Inc. reported strong first quarter 2026 financial results, with revenue reaching $1.474 billion and non-GAAP diluted EPS of $1.96, both exceeding prior year figures. The company achieved a record backlog of $8.0 billion, driven by accelerating AI demand and strong customer commitment. Consequently, Cadence raised its full-year 2026 revenue outlook to a range of $6.125 billion to $6.225 billion, representing approximately 17% year-over-year growth.
Key Highlights
- Q1 2026 Revenue: $1.474 billion, up 18.7% from Q1 2025.
- Q1 2026 Non-GAAP Diluted EPS: $1.96, up 24.8% from Q1 2025.
- Raised FY2026 Revenue Outlook: $6.125 billion to $6.225 billion, ~17% YoY growth.
- Record Backlog: $8.0 billion at quarter-end.
- Core EDA revenue grew 18% year-over-year.
- IP business achieved 22% year-over-year growth.
- System Design and Analysis revenue increased 18% year-over-year.
- Expects to repurchase approximately $200 million shares in Q2 2026.