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Cadence Design Systems
Cadence Design Systems (CDNS) investor relations material
Cadence Design Systems Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary17 Feb, 2026
Executive summary
Achieved 14% revenue growth in FY 2025, reaching $5.297B, with a record $7.8B backlog entering 2026, driven by strong demand across AI, EDA, IP, hardware, and SDA portfolios.
Non-GAAP EPS grew 20% to $7.14, and operating margin reached 45% for 2025.
AI-driven solutions, including the launch of ChipStack AI Super Agent, significantly expanded design productivity and customer engagement, with endorsements from major industry players.
Strategic collaborations deepened with leading foundries (TSMC, Intel, Rapidus, Samsung) and hyperscalers, supporting next-gen AI and multi-chip architectures.
Strong demand for AI-driven products and broad-based business strength contributed to results.
Financial highlights
FY 2025 revenue was $5.297B, with Q4 revenue at $1.44B; non-GAAP operating margin was 44.6% for the year and 45.8% for Q4.
FY 2025 GAAP EPS was $4.06; non-GAAP EPS was $7.14.
Operating cash flow was $1.729B for the year and $553M in Q4.
Cash balance at year-end was $3.0B; debt outstanding at $2.5B.
$925M used for share repurchases in 2025.
Outlook and guidance
FY 2026 revenue expected between $5.9B-$6.0B, with non-GAAP operating margin of 44.75%-45.75% and non-GAAP EPS of $8.05-$8.15.
Q1 2026 revenue guidance is $1.42B-$1.46B; recurring revenue projected to remain around 80% of total.
Approximately 50% of free cash flow to be used for share repurchases in 2026.
FY 2026 GAAP operating margin projected at 31.75%-32.75%; GAAP EPS guidance: $4.95-$5.05.
Pending acquisition of Hexagon's D&E business not included in 2026 outlook.
AI-driven product portfolio's 2025 growth impact
Hexagon acquisition's 2026 financial impact
Cadence's 2026 share repurchase strategy
AI impact on EDA/IP tool demand?
Describe Agentic AI monetization strategy
Discuss hyperscaler COT adoption trend
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Next Cadence Design Systems earnings date
Q1 202627 Apr, 2026
Cadence Design Systems
Next Cadence Design Systems earnings date
Q1 202627 Apr, 2026
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Frequently asked questions
Cadence Design Systems, Inc. offers functional verification, logical equivalence checking, and formal verification solutions, as well as tools for emulation, prototyping, field programmable gate arrays, power management design, low power design and analysis, physical verification and signoff, analysis-driven debugging and side channel security defect detection. Cadence Design Systems also provides simulation and debugging products to facilitate hardware and software co-development of embedded computer systems, system level verification solutions that enable SoC verification prior to implementation, a family of emulation platforms with the capacity and performance of large ASICs and the ability to emulate a portion or all of an ASIC and scale to millions of gates. Cadence Design Systems, Inc. was incorporated in 1987 and is headquartered in San Jose, California.
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