- 
                                  
- 
                            News
                        News Highlights
-  Books
                        Featured Books
- smt007 Magazine
Latest IssuesCurrent Issue  Production Software IntegrationEMS companies need advanced software systems to thrive and compete. But these systems require significant effort to integrate and deploy. What is the reality, and how can we make it easier for everyone?   Spotlight on IndiaWe invite you on a virtual tour of India’s thriving ecosystem, guided by the Global Electronics Association’s India office staff, who share their insights into the region’s growth and opportunities.   Supply Chain StrategiesA successful brand is built on strong customer relationships—anchored by a well-orchestrated supply chain at its core. This month, we look at how managing your supply chain directly influences customer perception. 
- Articles
- Columns
- Links
- Media kit||| MENU
- smt007 Magazine
Cadence Reports Q4, Fiscal Year 2024 Financial Results
February 20, 2025 | Cadence Design SystemsEstimated reading time: 3 minutes
Cadence Design Systems, Inc. announced results for the fourth quarter and fiscal year 2024.
Fourth Quarter 2024 Financial Results
- Revenue of $1.356 billion, compared to revenue of $1.069 billion in Q4 2023
- GAAP operating margin of 33.7%, compared to 31.5% in Q4 2023
- Non-GAAP operating margin of 46.0%, compared to 42.9% in Q4 2023
- GAAP diluted net income per share of $1.24, compared to $1.19 in Q4 2023
- Non-GAAP diluted net income per share of $1.88, compared to $1.38 in Q4 2023
Fiscal Year 2024 Financial Results
- Revenue of $4.641 billion, compared to revenue of $4.090 billion in 2023
- GAAP operating margin of 29.1%, compared to 30.6% in 2023
- Non-GAAP operating margin of 42.5%, compared to 42.0% in 2023
- GAAP diluted net income per share of $3.85, compared to $3.82 in 2023
- Non-GAAP diluted net income per share of $5.97, compared to $5.15 in 2023
Year-end backlog was $6.8 billion and current remaining performance obligations (cRPO), contract revenue expected to be recognized as revenue in the next 12 months, was $3.4 billion
“Cadence delivered exceptional results in the fourth quarter, capping off a strong 2024 with 13.5% revenue growth and 42.5% non-GAAP operating margin for the year,” said Anirudh Devgan, president and chief executive officer. “Our momentum continues to build as we exited 2024 with record bookings and record backlog. Cadence is very well positioned to benefit from the various phases of AI, including the current AI infrastructure buildout, applying AI to our own products, and expanding into new markets such as life sciences.”
“We had a strong finish to 2024, driven by broad based strength across all our businesses,” said John Wall, senior vice president and chief financial officer. “I’m pleased with our record year-end backlog of $6.8 billion and cRPO of $3.4 billion, and I look forward to building on that strength in 2025.”
CFO Commentary
Commentary on the fourth quarter and fiscal year 2024 financial results by John Wall, senior vice president and chief financial officer, is available at www.cadence.com/cadence/investor_relations.
Business Outlook
For fiscal year 2025, the company expects:
- Revenue in the range of $5.14 billion to $5.22 billion
- GAAP operating margin in the range of 30.25% to 31.25%
- Non-GAAP operating margin in the range of 43.25% to 44.25%
- GAAP diluted net income per share in the range of $4.19 to $4.29
- Non-GAAP diluted net income per share in the range of $6.65 to $6.75
The company utilizes a long-term projected non-GAAP tax rate, which reflects currently available information, as well as other factors and assumptions. The non-GAAP tax rate is subject to change for a variety of reasons, including the rapidly evolving global tax environment, significant changes in the company’s geographic earnings mix, or other changes to the company’s strategy or business operations. The company expects to use the current normalized non-GAAP tax rate through fiscal 2025 but will re-evaluate this rate periodically for significant items that may materially affect its projections.
Reconciliations of the financial results and business outlook from GAAP operating margin, GAAP net income and GAAP diluted net income per share to non-GAAP operating margin, non-GAAP net income and non-GAAP diluted net income per share, respectively, are included in this press release.
Business Highlights
The Cadence.ai portfolio continued to gain momentum with market shaping customers, as Cadence's AI-driven optimization products including Cadence Cerebrus, Verisium SimAI and Allegro X AI are proliferating at scale. Additionally, Cadence's LLM based Design Agents powered by JedAI data platform, are showing promising results in early engagements.
System Design & Analysis achieved strong results with over 40% growth in 2024 driven by Cadence's multi-physics analysis platform and AI-driven optimization, which delivered superior results to a rapidly expanding customer base across multiple verticals, especially Aerospace & Defense and Automotive.
Cadence's IP business grew 28% year over year in Q4 as Cadence's AI HPC protocols including Cadence's flagship HBM, DDR, PCIe and UCIe solutions continued propelling Cadence's business with significant expansions and competitive displacements at top tier customers.
Core EDA, which comprises of Cadence's digital, custom/analog and verification portfolios grew 15% year over year in Q4.
The hardware business, consisting of the Palladium Z3 and Protium X3, delivered another record year, with Q4 being the best quarter ever.
Testimonial
"In a year when every marketing dollar mattered, I chose to keep I-Connect007 in our 2025 plan. Their commitment to high-quality, insightful content aligns with Koh Young’s values and helps readers navigate a changing industry. "
Brent Fischthal - Koh YoungSuggested Items
Aircraft Wire and Cable Market to surpass USD 3.2 Billion by 2034
10/30/2025 | Global Market Insights Inc.The global aircraft wire and cable market was valued at USD 1.8 billion in 2024 and is estimated to grow at a CAGR of 5.9% to reach USD 3.2 billion by 2034, according to recent report by Global Market Insights Inc.
The Training Connection Continues to Grow with Addition of Veteran IPC Trainer Bill Graver
10/30/2025 | The Training Connection LLCThe Training Connection, LLC (TTC-LLC), a premier provider of test engineering and development training, is proud to announce the addition of Bill Graver to its growing team of industry experts. A respected professional with more than 35 years in electronics manufacturing, Bill joins as an IPC Master Trainer, bringing a wealth of hands-on experience in PCB testing, failure analysis, and process improvement.
I-Connect007 Welcomes New Columnist: Leo Lambert, EPTAC
10/30/2025 | I-Connect007I-Connect007 is excited to announce a column by Leo Lambert, an industry veteran with 40 years of experience, an award winner, and technical director at EPTAC. This column, Learning With Leo, will explore the evolution and related challenges of electronics product assembly, especially as it relates to training.
On the Line With… Ultra HDI Podcast—Episode 7: “Solder Mask: Beyond the Traces,” Now Available
10/31/2025 | I-Connect007I-Connect007 is excited to announce the release of the seventh episode of its 12-part podcast series, On the Line With… American Standard Circuits: Ultra HDI. In this episode, “Solder Mask: Beyond the Traces,” host Nolan Johnson sits down with John Johnson, Director of Quality and Advanced Technology at American Standard Circuits, to explore the essential role that solder mask plays in the Ultra HDI (UHDI) manufacturing process.
AI Triggers Next Paradigm Shift in PDN
10/23/2025 | Istvan Novak, SamtecArtificial intelligence (AI), together with machine learning (ML), is creating an unprecedented surge of computing and networking infrastructure needs. This, in turn, has dramatically increased the power consumption of computing and networking chips.

 
                                     
                                     
                                     
                                     
                                             
                                             
                                             
                                             
                                             
                                             
                                     
                                             
                                             
                                             Standard of Excellence: Speed vs. Quality in Customer Service
                                         Standard of Excellence: Speed vs. Quality in Customer Service Knocking Down the Bone Pile: Revamp Your Components with BGA Reballing
                                         Knocking Down the Bone Pile: Revamp Your Components with BGA Reballing Global Sourcing Spotlight: Balancing Speed and Flexibility Without Sacrificing Control
                                         Global Sourcing Spotlight: Balancing Speed and Flexibility Without Sacrificing Control





 
                     
                 
                    