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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Joshua Tilton | Wolfe Research | 8 (13%) |
| Siti Panigrahi | Mizuho Securities | 8 (0%) |
| Gianmarco Conti | Deutsche Bank | 8 (0%) |
| Lee Simpson | Morgan Stanley | 7 (0%) |
| Gary Mobley | StoneX | 7 (0%) |
| Vivek Arya | Bank of America | 7 (29%) |
| Joe Quatrochi | Wells Fargo | 7 (0%) |
| Jay Vleeschhouwer | Griffin Securities | 7 (14%) |
| Jason Celino | KeyBanc Capital Markets | 7 (14%) |
| Ruben Roy | Stifel | 7 (14%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Mizuho Securities | 1 | 8 (0%) |
| Deutsche Bank | 1 | 8 (0%) |
| Wolfe Research | 1 | 8 (13%) |
| Morgan Stanley | 1 |
Cadence delivered 19% revenue growth with non-GAAP EPS of $1.96 and a record backlog of $8 billion. The agentic AI platform was driving EDA transformation, IP business posted its third year of strong growth, and hardware emulation had its best quarter ever. FY2026 guidance was raised organically by $65 million in revenue plus $160 million from the Hexagon acquisition, with non-GAAP EPS nudged up $0.08 organically.
Demand | Revenue Growth | Cloud & AI | Competitive Dynamics | Geographic Expansion | Trade Tariffs | Innovation & R&D | Product Launch | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 5 | 6 | 1 | 1 | 3 | 3 | 1 | 1 |
| 2025Q1 | 3 | 3 | 5 | 3 | 2 | 4 | 2 | 2 |
| 2025Q2 | 8 | 7 | 4 | 3 | 4 | 2 | 2 | |
| 2025Q3 | 7 | 4 | 2 | 3 | 4 | 3 | 2 | |
| 2025Q4 | 5 | 5 | 6 | 6 | 1 | 1 | 2 | 2 |
| 2026Q1 | 6 | 6 | 7 | 6 | 1 | 5 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 5 | 3 | 8 | 7 | 5 | 6 |
| Revenue Growth | 6 | 3 | 7 | 4 | 5 | 6 |
| Cloud & AI | 1 | 5 | 4 | 2 | 6 | 7 |
| Competitive Dynamics | 1 | 3 | 3 | 3 | 6 | 6 |
| Geographic Expansion | 3 | 2 | 4 | 4 | 1 | 1 |
| Trade Tariffs | 3 | 4 | 2 | 3 | 1 | |
| Innovation & R&D | 1 | 2 | 2 | 2 | 5 | |
| Product Launch | 1 | 2 | 2 | 2 | 3 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.36B | +26.9% | $1.24 | +4.2% | 33.7% | 25.1% | $404M |
| FY2025 Q1 | $1.24B | +23.1% | $1.00 | +9.9% | 29.1% | 22.0% | $464M |
| FY2025 Q2 | $1.28B | +20.2% | $0.59 | -29.8% | 29.0% |
| 7 (0%) |
| Bank of America | 1 | 7 (29%) |
| Griffin Securities | 1 | 7 (14%) |
| KeyBanc Capital Markets | 1 | 7 (14%) |
| Stifel | 1 | 7 (14%) |
| 12.5% |
| $334M |
| FY2025 Q3 | $1.34B | +10.1% | $1.05 | +20.7% | 33.8% | 21.4% | $277M |
| FY2025 Q4 | $1.44B | +6.2% | $1.42 | +14.5% | 32.3% | 27.0% | $512M |
| FY2026 Q1 | $1.47B | +18.7% | $1.23 | +23.0% | 29.3% | 22.8% | $307M |
| FY2026 Q2 | $1.58B | +24.2% | $1.33 | +125.4% | 28.4% | 23.2% | $582M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What CDNS and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“That ecosystem is EDA partners like Synopsys and Cadence.”
Cadence is named as a core EDA partner in the Arm ecosystem supporting its silicon push.
“I think a lot of investors see the growth that Cadence is putting up and they're kind of excited for your organic growth to sort of trend in that direction.”
Analyst frames Cadence as Synopsys's closest EDA peer whose growth investors want Synopsys to match.
“make sure we are best-in-class in TSMC, which is the leading foundry”
Cadence frames TSMC as the leading foundry where it prioritizes best-in-class IP/EDA support, with signoff adoption coming on strong there.
“Synopsys talked about what they're doing with Ansys, perhaps you could do the same for your pieces.”
An analyst benchmarks Cadence's simulation strategy against competitor Synopsys's integration of Ansys, framing the two as rivals in multiphysics/EDA simulation.
“like HBM, we acquired from Rambus and then we improved it.”
Cadence notes its HBM IP portfolio was built partly on IP acquired from Rambus, a read-through on Rambus as a prior IP source.
“The addition of Hexagon's D&E leading structural and multi-body dynamics technologies transforms our system analysis portfolio to a leadership position in physical AI”
Cadence integrates the acquired Hexagon Design & Engineering business to build out its physical AI / system analysis portfolio.
“we furthered our long standard partnership with MediaTek through a wide-ranging expansion”
MediaTek expanded its Cadence engagement across agentic AI, core EDA, 3D-IC and system analysis, a positive read-through on MediaTek's design activity.
“companies like Tesla mentioning that they don't have enough silicon because of physical AI.”
Cadence cites Tesla's silicon shortfall as evidence that physical AI is driving additional chip design demand, a demand-side read-through.
“We are actually pleased with our discussions with Intel, with Lip-Bu and team on 18A and especially on 14A.”
Cadence reports progress engaging Intel Foundry on 18A and 14A nodes, implying Intel is investing more in 14A IP/EDA readiness ahead of customer wins.
“we announced an expanded partnership on AI and robotics with NVIDIA.”
Cadence expands its AI/robotics partnership with NVIDIA, combining agentic design tools with NVIDIA technology across chip design and physical AI.
“We announced a strategic collaboration with Google to optimize the ChipStack AI Super Agent with Gemini on Google Cloud.”
Cadence partners with Google to run its ChipStack agent on Gemini and Google Cloud, a read-through on Google Cloud/Gemini winning an EDA AI workload.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CDNS Cadence Design Systems | 9 | +18.7% | |
| ADSK Autodesk | 10 | +19.8% | |
| AI C3.ai, Inc. | 1 | -46.1% | |
| APP Applovin Corp | 9 | +59.0% | |
| CHYM Chime Financial, Inc. Class A Common Stock | 10 | +24.8% | |
| CRM Salesforce, Inc. | 9 | +12.1% | |
| DDOG Datadog | 10 | +32.1% | |
| FICO Fair Isaac | 9 | +38.7% | |
| FIG Figma, Inc. | 9 | +46.1% | |
| INTU Intuit | 9 | +17.4% | |
| MSTR MicroStrategy Inc. | 7 | +11.9% | |
| NOW ServiceNow | 7 | +22.1% | |
| PTC PTC Inc. | 9 | +21.7% | |
| SHOP Shopify | 8 | +34.3% | |
| SNOW Snowflake Inc. | 9 | +30.1% | |
| SOUN SoundHound AI, Inc. | 8 | +51.7% | |
| TEAM Atlassian | 7 | +31.7% | |
| TTD The Trade Desk, Inc. | 8 | +11.8% | |
| TYL Tyler Technologies | 8 | +8.6% | |
| U Unity Software Inc. | 9 | +16.8% | |
| UBER Uber | 8 | +14.5% | |
| WDAY Workday, Inc. | 7 | +14.5% |