Cadence — Third Quarter 2026 Earnings Summary

Cadence Design Systems reported third-quarter 2026 revenue of $1.633 billion, representing an 18% year-over-year increase in recurring revenue and establishing a record backlog of $8.2 billion. The company raised its full-year 2026 revenue growth outlook to 21% and non-GAAP earnings per share guidance to $8.40, driven by strong adoption of its AI Super Agents and the newly launched Maestro AI model portfolio. Non-GAAP diluted net income per share for the quarter reached $2.11, while the company utilized $400 million for share repurchases and authorized an additional $2.5 billion for its buyback program. Financial performance was supported by double-digit growth across all product categories, including a 30% year-over-year increase in System Design and Analysis revenue.