Company file · CDNS

Cadence Design Systems

Cadence Design Systems' revenue rose 14.1% in FY2025, to $5.3B, and net income rose 5.1% to $1.1B

Revenue rose 14.1% to $5.3B in FY2025, from $4.6B in FY2024. Net income rose 5.1% to $1.1B. Product and maintenance was the largest product or service, at 91% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2025 (filed Feb 19, 2026) · Latest quarter: 10-Q for the quarter ended Sep 30, 2026 (filed Oct 28, 2026) · Data pulled Oct 28, 2026

Key facts

Cadence Design Systems (Nasdaq: CDNS) closed fiscal 2025 on Dec 31, 2025 with revenue of $5.3B, up 14.1% from a year before; net income came to $1.1B, up 5.1%. Its newest quarterly report covers the three months to Sep 30, 2026: revenue of $1.6B, up 22.0% on the same stretch of the prior year, and net income of $290M. Broken down by product or service, Product and maintenance led with 91% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 19, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 28, 2026).

Revenue$5.3BFY2025 · +14.1% vs FY2024

Net income$1.1BFY2025 · +5.1% vs FY2024

Operating cash flow$1.7BFY2025 · +37.1% vs FY2024

Cash & equivalents$1.5Bat Sep 30, 2026 · −51.6% vs FY2025 end

Diluted shares273MFY2025 avg · −0.2% vs FY2024

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2025, filed Feb 19, 2026

Quarterly revenue: fiscal 2026 vs a year earlierFiscal Q1–Q3, $bn (each quarter from that quarter's 10-Q)

FY2025FY2026

Source: 10-Q filed May 1, 2026 · 10-Q filed Jul 29, 2026 · 10-Q filed Oct 28, 2026

How it makes money

By product or service, FY2025

LineAmountSharevs FY2024
Product and maintenance$4.8B91%+14.4%
Technology services$475M9%+11.1%

Source: 10-K FY2025, XBRL breakdown

By product or service in FY2025: Product and maintenance (91%) and Technology services (9%), as shares of total revenue. Total revenue was $5.3B.

By product or service: three-year mixShare of the total each fiscal year

FY2023

94%

FY2024

91%9%

FY2025

91%9%

Product and maintenanceTechnology services

Source: 10-K FY2025

By region, FY2025

Americas$2.5B47%+10.1%

Asia$1.7B32%+17.9%

EMEA$791M15%+13.1%

Japan$342M6%+31.3%

Share is of the FY2025 total; the last column is the change from FY2024.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q3 2026Q3 2025

Company

Revenue

$1.6B Q3 2026

$1.3B Q3 2025

22.0% increase

Net income

$290M Q3 2026

$287M Q3 2025

0.9% increase

Source: Cadence Design Systems 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026

By product or service

Product and maintenance

$1.5B Q3 2026

$1.2B Q3 2025

23.2% increase

Technology services

$146M Q3 2026

$131M Q3 2025

11.3% increase

Source: Cadence Design Systems 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026

Cash & equivalents $1.5B at Sep 30, 2026, vs $3.0B at FY2025 end.
Operating cash flow, first 9 months of fiscal 2026: $1.4B vs $1.2B a year earlier.

The bull case and the bear case

The bull case

Revenue rose 14.1% in FY2025 to $5.3B, from $4.6B a year earlier. 10-K, FY2025
Net income rose 5.1% in FY2025 to $1.1B, from $1.1B. 10-K, FY2025
Operating cash flow rose 37.1% in FY2025 to $1.7B. 10-K, FY2025
Revenue in the quarter ended Sep 30, 2026 was $1.6B, up 22.0% on a year earlier. 10-Q, quarter ended Sep 30, 2026

The bear case

The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include competition and AI; renewals; security incidents. 10-K, Item 1A

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

Cadence Design Systems is in the application software industry, part of the information technology sector. The SEC files it under Services-Prepackaged Software.

The full description of Cadence Design Systems' business is in Item 1 of its 10-K, linked below. This page shows its revenue by product or service and region.

Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the application software industry. They are not a summary of Cadence Design Systems’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

Competition and AIRivals, open-source products and shifts such as AI can change which products customers choose.
RenewalsSubscription revenue depends on customers renewing and expanding.
Security incidentsA breach or outage can harm customers and its reputation.
Sales executionGrowth depends on adding customers and selling more to existing ones.
PricingCustomers may negotiate lower prices or switch to cheaper products.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2023	FY2024	FY2025
Revenue	$4.1B	$4.6B	$5.3B
Net income	$1.0B	$1.1B	$1.1B
Operating cash flow	$1.3B	$1.3B	$1.7B
Cash & equivalents (year end)	$1.0B	$2.6B	$3.0B
Diluted shares	273M	274M	273M

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator

About these numbers

What we left out

Total debt: the company's filing data doesn't carry a consistent debt total for the years shown, so it isn't shown.

Recent filings

Form	Filed	Period
10-Q	Oct 28, 2026	Sep 30, 2026
10-Q	Jul 29, 2026	Jun 30, 2026
10-Q	May 1, 2026	Mar 31, 2026
DEF 14A	Mar 25, 2026	May 7, 2026
10-K	Feb 19, 2026	Dec 31, 2025

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about Cadence Design Systems

How does Cadence Design Systems make money?

Fiscal 2025 revenue: $5.3B. By product or service in FY2025: Product and maintenance (91%) and Technology services (9%), as shares of total revenue. Total revenue was $5.3B. Source: 10-K for fiscal 2025, filed Feb 19, 2026.

What was Cadence Design Systems's revenue in fiscal 2025?

$5.3B, up 14.1% from fiscal 2024 ($4.6B). The year ended Dec 31, 2025; for fiscal 2023 the figure was $4.1B. Source: 10-K for fiscal 2025, filed Feb 19, 2026.

Is Cadence Design Systems profitable?

Net income was $1.1B in fiscal 2025 (up 5.1%; fiscal 2024 was $1.1B). That counts as a GAAP profit. The latest quarter, ended Sep 30, 2026: net income was $290M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 19, 2026.

What did Cadence Design Systems report in its latest quarterly filing?

For the three months to Sep 30, 2026: revenue $1.6B (up 22.0% from $1.3B) and net income $290M (up 0.9% from $287M). Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 28, 2026.

What are the main risks Cadence Design Systems faces?

Cadence Design Systems's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 19, 2026. Risks that are common among companies in the application software industry include Competition and AI; renewals; security incidents; sales execution; pricing. The first: Rivals, open-source products and shifts such as AI can change which products customers choose. Source: 10-K, Item 1A Risk Factors.

Where do these Cadence Design Systems numbers come from?

The 10-K filed Feb 19, 2026 (fiscal 2025) and the 10-Q filed Oct 28, 2026 (quarter ended Sep 30, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.

Disclosures

Editor holdings in CDNS: The editor holds no position in Cadence Design Systems (CDNS). As of Oct 25, 2026.
Trading rule: The editor does not buy or sell CDNS from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Oct 28, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold CDNS, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
Cadence Design SystemsCDNS	FY2025	$5.3B	+14.1%	$1.1B
PalantirPLTR	FY2025	$4.5B	+56.2%	$1.6B
OracleORCL	FY2026	$67.4B	+17.3%	$17.1B
SalesforceCRM	FY2026	$41.5B	+9.6%	$7.5B
DatadogDDOG	FY2025	$3.4B	+27.7%	$108M

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.