Cadence Reports Third Quarter 2026 Financial Results
Business Wire•26/10/2026•16:02 ET
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Key Highlights
- ➤2026 revenue outlook raised to 21% year-over-year growth
- ➤Q3 revenue $1.633 billion, up from $1.339 billion year-over-year
- ➤Q3 non-GAAP diluted EPS $2.11, versus $1.93 year-over-year
- ➤Record backlog reached $8.2 billion, with $4.2 billion due within 12 months
- ➤Board authorized an additional $2.5 billion for share repurchases
Expert Statements
Anirudh Devgan, President and chief executive officer of Cadence
“Cadence delivered an outstanding third quarter. With broad-based business momentum, expanding technology leadership and a record backlog, we are raising our 2026 revenue outlook to 21% year-over-year growth.”
Anirudh Devgan, President and chief executive officer of Cadence
“With the launch of Maestro, our portfolio of domain specialized AI models for chip and system design, and the accelerating deployment of our AI Super Agents, Cadence is exceptionally well positioned to capitalize on the transformational Agentic AI opportunity.”
John Wall, Senior vice president and chief financial officer of Cadence
“Q3 revenue grew 22% year-over-year, with strong double-digit growth across all product categories, driven by growing momentum from AI-driven designs.”
John Wall, Senior vice president and chief financial officer of Cadence
“With record backlog of $8.2 billion and continued strength in recurring revenue, we are poised to deliver a strong 2026.”
Raising 2026 Revenue Growth Outlook to 21% and Non-GAAP EPS to $8.40
Q3 Recurring Revenue Up 18% YoY, Record Backlog of $8.2 Billion
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