The company said its revenue for fiscal 2024 Q1 rose to $1.6 billion, up $287.9 million, or 21%. The company cited revenue growth across all products and geographies and the extra week in Q1, which had 1 weeks compared with 14 weeks in 13, as factors.

10-QQuarterly reportFiled Feb 23, 2024Period of report Jan 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said its revenue for fiscal 2024 Q1 rose to $1.6 billion, up $287.9 million, or 21%. The company cited revenue growth across all products and geographies and the extra week in Q1, which had 1 weeks compared with 14 weeks in 13, as factors.
Synopsys said it entered into an Agreement and Plan of Merger on January 15, 2024 to acquire all outstanding shares of ANSYS, Inc. in a cash-and-stock transaction valued at approximately $35.0 billion. Under the terms, each Ansys share will receive 0.3450 Synopsys share and $197.00 in cash. The company said the deal is expected to close in the first half of 2025.
The company said it entered into a Term Loan Agreement on February 13, 2024 that allows it to borrow up to $4.3 billion at the closing of the Ansys Merger. It terminated $4.3 billion of the original $16.0 billion Bridge Commitment. The company also said it plans to fund the cash consideration of approximately $19 billion through a combination of cash and debt.
The company said operating cash flow was a net outflow of $87.8 million for the 3 months ended January 31, 2024, compared with a net inflow of $114.8 million in the same period a year earlier. It also said it suspended its share repurchase program in connection with the Ansys Merger, and the remaining authorization as of January 31, 2024 is $194.3 million.

Key figures

Quarter ended January 31, 2024

Revenue: $1.6B
Operating income: $360M
Net income: $449M
EPS: $2.89
Gross profit: $1.3B
Operating cash flow: −$88M

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 excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Fiscal 2024 Q1 Revenue $1.6 billion

The company said its revenue for fiscal 2024 Q1 rose to $1.6 billion, up $287.9 million, or 21%. The company cited revenue growth across all products and geographies and the extra week in Q1, which had 1 weeks compared with 14 weeks in 13, as factors.

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

Ansys Acquisition Agreement and Consideration Structure

Synopsys said it entered into an Agreement and Plan of Merger on January 15, 2024 to acquire all outstanding shares of ANSYS, Inc. in a cash-and-stock transaction valued at approximately $35.0 billion. Under the terms, each Ansys share will receive 0.3450 Synopsys share and $197.00 in cash. The company said the deal is expected to close in the first half of 2025.

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

Financing for the Ansys Acquisition

The company said it entered into a Term Loan Agreement on February 13, 2024 that allows it to borrow up to $4.3 billion at the closing of the Ansys Merger. It terminated $4.3 billion of the original $16.0 billion Bridge Commitment. The company also said it plans to fund the cash consideration of approximately $19 billion through a combination of cash and debt.

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

Operating Cash Flow and Suspension of Share Repurchases

The company said operating cash flow was a net outflow of $87.8 million for the 3 months ended January 31, 2024, compared with a net inflow of $114.8 million in the same period a year earlier. It also said it suspended its share repurchase program in connection with the Ansys Merger, and the remaining authorization as of January 31, 2024 is $194.3 million.

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

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View the original filing on SEC EDGAR ↗

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