Cadence Design Systems completed its acquisition of the design and engineering business of Hexagon Smart Solutions AB on February 23, 2026, saying the acquisition is expected to accelerate its intelligent system design strategy by expanding its System Design and Analysis portfolio.

10-QQuarterly reportFiled May 1, 2026Period of report Mar 31, 2026Summary published (UTC) Oct 3, 2026

Key points

AI summary

Cadence Design Systems completed its acquisition of the design and engineering business of Hexagon Smart Solutions AB on February 23, 2026, saying the acquisition is expected to accelerate its intelligent system design strategy by expanding its System Design and Analysis portfolio.
As of March 31, 2026, the company said cash and cash equivalents were $1,406.7 million, compared with $3.0 billion as of December 31, 2025. It cited business combination payments and repurchases of common stock as primary uses of cash during the quarter.
As of March 31, 2026, the company said outstanding borrowings under its revolving credit facility were $425.0 and it was in compliance with all covenants. It cited increased proceeds from the revolving credit facility used for the D&E acquisition as a factor in the increase in cash flows from financing activities.
As of March 31, 2026, the company said $1.2 billion remained available under its share repurchase authorization. The company also said it currently expects its effective tax rate for fiscal 2026 to be approximately 26%.

Key figures

Quarter ended March 31, 2026

Revenue: $1.5B
Operating income: $431M
Net income: $336M
EPS: $1.23
Operating cash flow: $356M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Hexagon D&E Acquisition Completed

Cadence Design Systems completed its acquisition of the design and engineering business of Hexagon Smart Solutions AB on February 23, 2026, saying the acquisition is expected to accelerate its intelligent system design strategy by expanding its System Design and Analysis portfolio.

Source · Based on the MD&A text of the filing

Cash and Cash Equivalents as of March 31, 2026

As of March 31, 2026, the company said cash and cash equivalents were $1,406.7 million, compared with $3.0 billion as of December 31, 2025. It cited business combination payments and repurchases of common stock as primary uses of cash during the quarter.

Source · Based on the MD&A text of the filing

Revolving Credit Facility Borrowings and Financing Cash Flows

As of March 31, 2026, the company said outstanding borrowings under its revolving credit facility were $425.0 and it was in compliance with all covenants. It cited increased proceeds from the revolving credit facility used for the D&E acquisition as a factor in the increase in cash flows from financing activities.

Source · Based on the MD&A text of the filing

Share Repurchase Authorization Remaining and Annual Effective Tax Rate Outlook

As of March 31, 2026, the company said $1.2 billion remained available under its share repurchase authorization. The company also said it currently expects its effective tax rate for fiscal 2026 to be approximately 26%.

Source · Based on the MD&A text of the filing

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.

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