Synopsys said revenue for the 3-month period ended April 30, 2024 rose to $1.5 billion, up $192.0 million (15%), and revenue for the 6-month period increased to $3.0 billion, up $469.5 million (19%). The company cited revenue growth across all products and geographies as the main factor.

10-QQuarterly reportFiled May 24, 2024Period of report Apr 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Synopsys said revenue for the 3-month period ended April 30, 2024 rose to $1.5 billion, up $192.0 million (15%), and revenue for the 6-month period increased to $3.0 billion, up $469.5 million (19%). The company cited revenue growth across all products and geographies as the main factor.
The company said fiscal 2024 is a 53-week year, and the extra 1 week in the first quarter contributed approximately $70.5 million of additional revenue and approximately $61.0 million of additional expenses, including approximately $11.0 million in stock-based compensation costs. Results for the 6-month period are based on 27 weeks in 2024 and 26 weeks in 2023.
The company said it entered into a merger agreement on January 15, 2024 to acquire Ansys, valuing Ansys at approximately $35.0 billion, in a cash-and-stock transaction under which Ansys shareholders would receive 0.3450 Synopsys share per Ansys share and $197.00 in cash. The company said it has secured committed fixed debt financing for $16.0 billion of the approximately $19 billion cash consideration.
The company said it entered into an agreement on May 5, 2024 to sell its Software Integrity business to Sapphire Software Buyer, Inc. for up to $2.1 billion in cash, including $1.5 billion payable at closing. The company said it expects the transaction to close in the second half of 2024.

Key figures

Quarter ended April 30, 2024

Revenue: $1.5B
Operating income: $332M
Net income: $292M
EPS: $1.88
Gross profit: $1.2B

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.

First-quarter revenue $1.5 billion, 6-month revenue $3.0 billion

Synopsys said revenue for the 3-month period ended April 30, 2024 rose to $1.5 billion, up $192.0 million (15%), and revenue for the 6-month period increased to $3.0 billion, up $469.5 million (19%). The company cited revenue growth across all products and geographies as the main factor.

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

Extra 1 week from 53-week fiscal year

The company said fiscal 2024 is a 53-week year, and the extra 1 week in the first quarter contributed approximately $70.5 million of additional revenue and approximately $61.0 million of additional expenses, including approximately $11.0 million in stock-based compensation costs. Results for the 6-month period are based on 27 weeks in 2024 and 26 weeks in 2023.

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

Ansys Acquisition Terms and Financing

The company said it entered into a merger agreement on January 15, 2024 to acquire Ansys, valuing Ansys at approximately $35.0 billion, in a cash-and-stock transaction under which Ansys shareholders would receive 0.3450 Synopsys share per Ansys share and $197.00 in cash. The company said it has secured committed fixed debt financing for $16.0 billion of the approximately $19 billion cash consideration.

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

Software Integrity Divestiture Agreement

The company said it entered into an agreement on May 5, 2024 to sell its Software Integrity business to Sapphire Software Buyer, Inc. for up to $2.1 billion in cash, including $1.5 billion payable at closing. The company said it expects the transaction to close in the second half of 2024.

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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