The company said revenue for Q1 2024 was $1.009 billion, compared with $1.022 billion in Q1 2023. GAAP operating margin was 25% (32% in Q1 2023), and non-GAAP operating margin was 38% (42%).

1. 01

   The company said revenue for Q1 2024 was $1.009 billion, compared with $1.022 billion in Q1 2023. GAAP operating margin was 25% (32% in Q1 2023), and non-GAAP operating margin was 38% (42%).

2. 02

   Cadence said GAAP diluted net income per share for Q1 was $0.91 ($0.89 a year earlier), and non-GAAP diluted net income per share was $1.17 ($1.29). GAAP net income was $247,643 thousand, and non-GAAP net income was $318,882 thousand.

3. 03

   The company said backlog at the end of Q1 2024 was $6.0 billion, and cRPO, the contract revenue to be recognized as revenue within the next 12 months, was $3.1 billion. It described this as record Q1 backlog.

4. 04

   The company outlook for fiscal 2024 calls for revenue of $4.56 billion to $4.62 billion, non-GAAP diluted net income per share of $5.88 to $5.98, and Q2 revenue of $1.03 billion to $1.05 billion. The company said the outlook does not include the impact of the pending BETA CAE acquisition.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.