Jun 2026 (Q2 FY26) — Jul 27, 2026
Cadence Q2 FY26 — Record Backlog and Raised Full-Year Guidance Driven by AI Demand
Read the full callCadence (CDNS) earnings
- Mar 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Cadence earnings: last reported Mon, 27 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,474 | +18.7% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 29.3 | +0.2 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 336 | +22.7% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
38 of 45 judged targets kept · 23 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| GAAP EPS | $1.07 to $1.13 | Mar 2026 | GAAP EPS was $1.33 | Achieved |
| GAAP Operating Margin | 28.5% to 29.5% | Mar 2026 | GAAP operating margin was 28.4%. | Missed |
| GAAP EPS | $4.95 to $5.05 | Dec 2025 | GAAP EPS in the range of $4.76 to $4.86 | Revised Up |
7 of CADENCE DESIGN SYSTEMS INC's 68 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 65 more targets are in the full ledger.
Claimed
- Q2 FY26 revenue grew 24% year-over-year to $1.584 billion, exceeding guidance.
- Full-year FY26 revenue guidance raised to 19% growth, reflecting strong business momentum.
- Record backlog of $8.1 billion was achieved, above expectations.
- IP business grew over 40% year-over-year, driven by AI and HPC applications.
- Hardware business delivered another record quarter, with revenue growing 24% YoY.
Qualified
- Q2 FY26 GAAP operating margin was 28.4%, lower than non-GAAP operating margin of 45.5%.
- Second half FY26 operating margins are expected to be slightly lower than first half due to targeted investments in Hexagon integration and Intel collaboration.
- Hardware business remains supply constrained by customer demand, limiting immediate revenue capture.
Price
$325.86 +1.99% · +$6.35
Performance −0.1% 1Y
1Y: $326.12 on 17 Oct 2025 → $325.86. High $416.39 (2 Jun 2026), low $265.66 (10 Apr 2026).
- Previous close
- $319.51
- 52-week range
- $265.66 – $416.39
- One year
- −1.15%
Overview
- Symbol
- CDNS
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
38 of 45 judged targets kept · 23 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| GAAP EPS | $1.07 to $1.13 | Mar 2026 | GAAP EPS was $1.33 | Achieved |
| GAAP Operating Margin | 28.5% to 29.5% | Mar 2026 | GAAP operating margin was 28.4%. | Missed |
| GAAP EPS | $4.95 to $5.05 | Dec 2025 | GAAP EPS in the range of $4.76 to $4.86 | Revised Up |
Claimed
- Q2 FY26 revenue grew 24% year-over-year to $1.584 billion, exceeding guidance.
- Full-year FY26 revenue guidance raised to 19% growth, reflecting strong business momentum.
- Record backlog of $8.1 billion was achieved, above expectations.
- IP business grew over 40% year-over-year, driven by AI and HPC applications.
- Hardware business delivered another record quarter, with revenue growing 24% YoY.
Qualified
- Q2 FY26 GAAP operating margin was 28.4%, lower than non-GAAP operating margin of 45.5%.
- Second half FY26 operating margins are expected to be slightly lower than first half due to targeted investments in Hexagon integration and Intel collaboration.
- Hardware business remains supply constrained by customer demand, limiting immediate revenue capture.
The full ledger
Open CADENCE DESIGN SYSTEMS INC’s full ledger
A free account opens 5 company ledgers a month. All 68 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 27, 2026
Cadence Q1 FY26 — Record $8B backlog and accelerating agentic-AI demand drive raised outlook
Read the full callDec 2025 (Q4 FY25) — Feb 17, 2026
Cadence Q4 FY25 — Strong AI Momentum Drives Record Backlog and Double-Digit Growth
Read the full callEvery analysed call
Cadence earnings calls (CDNS)
Financials
What the filings say
Net profit, year on year: +23% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,061 | 1,215 | 1,356 | 1,242 | 1,275 | 1,339 | 1,440 | 1,474 |
| Expenses | 767 | 865 | 899 | 881 | 1,034 | 913 | 977 | 1,043 |
| Operating profit | 294 | 350 | 457 | 362 | 242 | 425 | 463 | 431 |
| Operating margin | 27.7% | 28.8% | 33.7% | 29.1% | 19.0% | 31.8% | 32.2% | 29.3% |
| Interest | 13 | 24 | 30 | 29 | 29 | 29 | 29 | 32 |
| Profit before tax | 316 | 333 | 437 | 356 | 281 | 393 | 493 | 428 |
| Tax rate | 27.3% | 28.6% | 22.1% | 23.1% | 43.0% | 26.9% | 21.3% | 21.6% |
| Net profit | 230 | 238 | 340 | 274 | 160 | 287 | 388 | 336 |
| EPS ($ per share) | 0.85 | 0.87 | — | 1.01 | 0.59 | 1.06 | — | 1.23 |
| Line item | Dec 2018 | Dec 2019 | Jan 2021 | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 1,936 | 2,046 | 2,218 | 2,468 | 2,766 | 3,167 | 4,182 | 4,719 |
| Reserves | 773 | 1,762 | 2,350 | 3,046 | 3,895 | 4,936 | 5,992 | 7,101 |
| Total liabilities | 1,180 | 1,254 | 1,458 | 1,646 | 2,392 | 2,265 | 4,301 | 4,679 |
| Fixed assets | 253 | 276 | 311 | 306 | 371 | 403 | 458 | 517 |
| Investments | — | — | — | — | 4 | 130 | 141 | 154 |
| Total assets | 2,469 | 3,357 | 3,951 | 4,386 | 5,137 | 5,669 | 8,974 | 10,153 |
| Line item | Dec 2018 | Dec 2019 | Jan 2021 | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 605 | 730 | 905 | 1,101 | 1,242 | 1,349 | 1,261 | 1,729 |
| Cash from investing | -174 | -106 | -292 | -293 | -739 | -412 | -837 | -461 |
| Cash from financing | -568 | -444 | -415 | -644 | -657 | -804 | 1,239 | -949 |
| Net cash flow | -155 | 172 | 223 | 161 | -207 | 126 | 1,636 | 357 |
| Capital expenditure | -62 | -75 | -95 | -65 | -123 | -102 | -143 | -142 |
| Free cash flow | 543 | 655 | 810 | 1,036 | 1,119 | 1,247 | 1,118 | 1,587 |
CDNS revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Reportable | — | — | 100% | 100% | 100% | 100% | 100% | 100% | +24.2% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CDNS operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|
| Backlog | $6.8BWe exited 2024 with a record backlog of $6.8 billion, which is a testament to our compelling AI-driven chip-to-systems portfolio and its growing proliferation among marquee system and semi customers.Source: earnings call transcript | $7.8BWe finished 2025 with a record backlog of $7.8 billion, well ahead of plan, reflecting broad-based portfolio strength and increasing contributions from our AI solutions.Source: earnings call transcript | $8BOur record backlog of $8 billion was ahead of plan, reflecting strong customer confidence in our AI-driven portfolio and its pivotal role in enabling delivery of their increasingly complex chip and system design road maps.Source: earnings call transcript | $8.1BWith strong execution, we generated Q2 operating margin of 45.5% and second quarter bookings resulted in a record backlog of $8.1 billion.Source: earnings call transcript | +1.3% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- Americas 43% ↓ 7 pt
- Asia 42% ↑ 12 pt
- US 41% ↓ 6 pt
- Other Asia 20% ↑ 3 pt
- EMEA 15% ↑ 1 pt
- CN 15% ↑ 2 pt
- JP 7% ↑ 1 pt
- Other America 1% ↓ 1 pt
As CDNS cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
209 filings between Oct 31, 2025 and Oct 15, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$104.15M
115 sales by 9 insiders
98% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 29
- Award — granted as compensation
- 22
- Option exercise — converted options into shares
- 35
- Tax withheld — shares kept back by the company to cover tax
Also filed: 8 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| DEVGAN ANIRUDH | — | $58.66M | Jun 2, 2026 |
| WALL JOHN M | — | $17.25M | May 5, 2026 |
| TENG CHIN-CHI | — | $12.32M | Aug 21, 2026 |
| Scannell Paul | — | $8.68M | Aug 26, 2026 |
| Cunningham Paul | — | $5.58M | Oct 15, 2026 |
| SANGIOVANNI VINCENTELLI ALBERTO | — | $838.7K | Oct 1, 2026 |
| PLUMMER JAMES D | — | $576.2K | Jun 11, 2026 |
| Brennan Ita M | — | $235.0K | Sep 10, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 15, 2026 | Cunningham Paul Sr. Vice President | Sale 10b5-1 plan | 2,000 | $648.3K |
| Oct 15, 2026 | Cunningham Paul Sr. Vice President | Option exercise 10b5-1 plan | 1,000 | $138.0K |
| Oct 1, 2026 | SANGIOVANNI VINCENTELLI ALBERTO Director | Sale 10b5-1 plan | 1,250 | $437.6K |
| Sep 17, 2026 | Cunningham Paul Sr. Vice President | Tax withheld | 1,181 | $331.6K |
| Sep 17, 2026 | WALL JOHN M Sr. VP & CFO | Tax withheld | 1,433 | $402.3K |
| Sep 17, 2026 | DEVGAN ANIRUDH President and CEO | Tax withheld | 3,779 | $1.06M |
| Sep 17, 2026 | TENG CHIN-CHI Sr. Vice President | Tax withheld | 1,181 | $331.6K |
| Sep 17, 2026 | Scannell Paul Sr. Vice President | Tax withheld | 937 | $263.1K |
| Sep 15, 2026 | Cunningham Paul Sr. Vice President | Tax withheld 10b5-1 plan | 793 | $217.3K |
| Sep 15, 2026 | Cunningham Paul Sr. Vice President | Sale 10b5-1 plan | 2,000 | $554.2K |
| Sep 15, 2026 | TENG CHIN-CHI Sr. Vice President | Tax withheld | 793 | $217.3K |
| Sep 15, 2026 | Cunningham Paul Sr. Vice President | Option exercise 10b5-1 plan | 1,000 | $138.0K |
| Sep 15, 2026 | DEVGAN ANIRUDH President and CEO | Tax withheld | 2,539 | $695.6K |
| Sep 15, 2026 | WALL JOHN M Sr. VP & CFO | Tax withheld | 983 | $269.3K |
| Sep 10, 2026 | Brennan Ita M Director | Sale 10b5-1 plan | 6 | $1.7K |
| Sep 10, 2026 | Brennan Ita M Director | Sale 10b5-1 plan | 14 | $4.0K |
| Sep 10, 2026 | Brennan Ita M Director | Sale 10b5-1 plan | 33 | $9.4K |
| Sep 10, 2026 | Brennan Ita M Director | Sale 10b5-1 plan | 127 | $36.3K |
| Aug 26, 2026 | Scannell Paul Sr. Vice President | Sale 10b5-1 plan | 280 | $94.9K |
| Aug 25, 2026 | SANGIOVANNI VINCENTELLI ALBERTO Director | Sale 10b5-1 plan | 240 | $76.6K |
| Aug 25, 2026 | Cunningham Paul Sr. Vice President | Gift | 1,000 | $0 |
| Aug 25, 2026 | SANGIOVANNI VINCENTELLI ALBERTO Director | Sale 10b5-1 plan | 280 | $89.1K |
| Aug 25, 2026 | SANGIOVANNI VINCENTELLI ALBERTO Director | Sale 10b5-1 plan | 380 | $122.0K |
| Aug 25, 2026 | SANGIOVANNI VINCENTELLI ALBERTO Director | Sale 10b5-1 plan | 309 | $100.0K |
| Aug 25, 2026 | SANGIOVANNI VINCENTELLI ALBERTO Director | Sale 10b5-1 plan | 41 | $13.3K |
| Aug 21, 2026 | TENG CHIN-CHI Sr. Vice President | Option exercise 10b5-1 plan | 1,000 | $202.9K |
| Aug 21, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 4,732 | $1.49M |
| Aug 17, 2026 | Cunningham Paul Sr. Vice President | Option exercise 10b5-1 plan | 1,000 | $138.0K |
| Aug 17, 2026 | Scannell Paul Sr. Vice President | Tax withheld | 181 | $58.5K |
| Aug 17, 2026 | Cunningham Paul Sr. Vice President | Sale 10b5-1 plan | 2,000 | $646.6K |
| Jul 30, 2026 | SOHN YOUNG Director | Gift | 9 | $0 |
| Jul 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 399 | $137.2K |
| Jul 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 241 | $82.7K |
| Jul 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 440 | $150.5K |
| Jul 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 200 | $68.1K |
| Jul 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 1,968 | $667.3K |
| Jul 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 200 | $67.6K |
| Jul 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 720 | $241.7K |
| Jul 22, 2026 | TENG CHIN-CHI Sr. Vice President | Option exercise 10b5-1 plan | 1,000 | $202.9K |
| Jul 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 80 | $27.6K |
| Jul 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 252 | $84.9K |
| Jul 15, 2026 | Cunningham Paul Sr. Vice President | Sale 10b5-1 plan | 2,000 | $766.7K |
| Jul 15, 2026 | Cunningham Paul Sr. Vice President | Option exercise 10b5-1 plan | 1,000 | $138.0K |
| Jun 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 160 | $62.5K |
| Jun 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 220 | $85.6K |
| Jun 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 320 | $124.7K |
| Jun 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 160 | $61.3K |
| Jun 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 1,281 | $496.3K |
| Jun 22, 2026 | TENG CHIN-CHI Sr. Vice President | Sale 10b5-1 plan | 240 | $92.6K |
| Jun 22, 2026 | TENG CHIN-CHI Sr. Vice President | Option exercise 10b5-1 plan | 1,000 | $202.9K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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