Gate News message, April 28 — Cadence Design Systems, a California-based chip-design software maker, raised its fiscal 2026 revenue forecast on April 27, citing strong demand for tools used to build AI processors and more complex chips. The company now expects revenue of $6.13 billion to $6.23 billion, up from its prior guidance of $5.9 billion to $6 billion.
Cadence projected adjusted profit of $7.85 to $7.95 per share, below its earlier outlook. The company attributed the lower profit guidance to its 2.7 billion euros (approximately $3.17 billion) acquisition of Hexagon AB’s Design and Engineering business. Shares rose more than 1% in extended trading.
First-quarter results exceeded analyst expectations, with revenue of $1.47 billion and adjusted profit of $1.96 per share, compared to LSEG estimates of $1.45 billion and $1.90 per share. The Hexagon acquisition expands Cadence’s reach beyond chip design software into physical simulation and system-level design tools, enabling the company to serve customers in automotive, aerospace, and defense sectors including BMW and Lockheed Martin. The deal supports Cadence’s digital twin and system simulation initiatives, including collaboration with Nvidia on AI factory simulation and robotics applications.
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