Synopsys said annual revenue from continuing operations rose $6.1 billion, an increase of $809.4 million (15%), and that total cost of revenue and operating expenses rose to $4.8 billion, an increase of $726.9 million (18%). The company cited revenue growth across all products and geographies, and a $325.8 million increase in employee-related costs from headcount growth, as factors.

1. 01

   Synopsys said annual revenue from continuing operations rose $6.1 billion, an increase of $809.4 million (15%), and that total cost of revenue and operating expenses rose to $4.8 billion, an increase of $726.9 million (18%). The company cited revenue growth across all products and geographies, and a $325.8 million increase in employee-related costs from headcount growth, as factors.

2. 02

   The company said it entered into a merger agreement on January 15, 2024 to acquire Ansys in a deal valued at about $35.0 billion, under which Ansys shareholders would receive 0.3450 Synopsys shares and $197.00 in cash for each Ansys share. It said it has put in place committed debt financing of $14.9 billion, including $10.6 billion under the Bridge Commitment.

3. 03

   The company said it completed the sale of its Software Integrity business on September 30, 2024, and that net income from discontinued operations was $821.7 million, driven mainly by the gain on the divestiture. The company cited the net cash proceeds of $1.4 billion from the divestiture as a factor in the increase in cash provided by investing activities.

4. 04

   The company cited higher federal tax payments of $471.0 million as a factor in the decrease in cash provided by operating activities, which included $187.0 million of fiscal 2023 federal tax payments. The company said it suspended its stock repurchase program in connection with the Ansys merger and that, as of October 31, 2024, the remaining authorization under the program was $194.3 million.

Key figures

Fiscal year ended October 31, 2024

Revenue

$6.1B

Operating income

$1.4B

Net income

$2.3B

EPS

$14.51

Gross profit

$4.9B

Operating cash flow

$1.4B

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.

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.