Cadence Design Systems, Inc.

Strong Financial Performance: Cadence reported a robust fourth quarter and full year 2024, with revenue growth of 13.5% year-over-year, resulting in total revenue of $4.641 billion. Non-GAAP operating margin was impressive at 42.5%, highlighting operational efficiency. GAAP EPS for the quarter was $1.24, while non-GAAP EPS stood at $1.88.

Record Backlog: The company ended 2024 with a record backlog of $6.8 billion and a record cRPO (current Remaining Performance Obligations) of $3.4 billion. This indicates strong demand across its AI-driven chip to systems portfolio and suggests solid future revenue potential.

2025 Outlook: For full-year 2025, Cadence forecasts revenue between $5.14 billion to $5.22 billion, which reflects modest year-over-year growth, translating to 11.5% at the midpoint. Non-GAAP EPS guidance ranges from $6.65 to $6.75, implying continued profitability but also highlights a more conservative approach amid macroeconomic uncertainties.