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AI English summary of an SEC filing — figures as filed

Cadence Design Systems logoCadence Design Systems CDNS

The company said revenue for Q2 2024 was $1.061 billion, compared with $977 million in Q2 2023. GAAP diluted net income per share was $0.84, compared with $0.81 a year earlier.

8-KResults of Operations and Financial ConditionFiled Period of report Summary published (UTC)

Key points

AI summary
  1. The company said revenue for Q2 2024 was $1.061 billion, compared with $977 million in Q2 2023. GAAP diluted net income per share was $0.84, compared with $0.81 a year earlier.

  2. The company said its GAAP operating margin for Q2 2024 was 28%, compared with 31% in Q2 2023, and its non-GAAP operating margin was 40%, compared with 42% in Q2 2023.

  3. The company said backlog at the end of Q2 2024 was $6.0 billion, and current remaining performance obligations (cRPO), contract revenue to be recognized as revenue within the next 12 months, was $3.1 billion.

  4. The company said it is updating full-year 2024 revenue to $4.60 billion to $4.66 billion and Q3 revenue to $1.165 billion to $1.195 billion. It presented full-year non-GAAP diluted net income per share of $5.77 to $5.97.

Summary

AI-written

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.

Q2 2024 Revenue and GAAP Diluted EPS

The company said revenue for Q2 2024 was $1.061 billion, compared with $977 million in Q2 2023. GAAP diluted net income per share was $0.84, compared with $0.81 a year earlier.

Source · Based on the filing body and exhibits

Q2 GAAP and Non-GAAP Operating Margins

The company said its GAAP operating margin for Q2 2024 was 28%, compared with 31% in Q2 2023, and its non-GAAP operating margin was 40%, compared with 42% in Q2 2023.

Source · Based on the filing body and exhibits

Quarter-End Backlog and cRPO

The company said backlog at the end of Q2 2024 was $6.0 billion, and current remaining performance obligations (cRPO), contract revenue to be recognized as revenue within the next 12 months, was $3.1 billion.

Source · Based on the filing body and exhibits

2024 Full-Year and Q3 Revenue and Non-GAAP EPS Outlook

The company said it is updating full-year 2024 revenue to $4.60 billion to $4.66 billion and Q3 revenue to $1.165 billion to $1.195 billion. It presented full-year non-GAAP diluted net income per share of $5.77 to $5.97.

Source · Based on the filing body and exhibits

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.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.