Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Cadence Design Systems Inc., consolidated income statement (quarterly data)

US$ in thousands

3 months ended:	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Oct 1, 2022	Jul 2, 2022	Apr 2, 2022	Dec 31, 2021	Oct 2, 2021	Jul 3, 2021	Apr 3, 2021
Product and maintenance	1,430,668)	1,348,922)	1,332,526)	1,207,703)	1,170,510)	1,110,850)	1,239,287)	1,100,380)	960,457)	913,385)	981,987)	965,840)	922,790)	963,742)	845,880)	845,788)	802,285)	846,244)	719,849)	706,160)	687,884)	699,054)
Services	153,783)	125,298)	107,588)	131,135)	104,931)	131,516)	116,694)	115,119)	100,224)	95,718)	86,636)	57,254)	53,789)	57,948)	53,997)	56,766)	55,236)	55,522)	53,187)	44,735)	40,401)	36,974)
Revenue	1,584,451)	1,474,220)	1,440,114)	1,338,838)	1,275,441)	1,242,366)	1,355,981)	1,215,499)	1,060,681)	1,009,103)	1,068,623)	1,023,094)	976,579)	1,021,690)	899,877)	902,554)	857,521)	901,766)	773,036)	750,895)	728,285)	736,028)
Cost of product and maintenance	(175,183)	(153,312)	(144,001)	(118,702)	(139,298)	(116,672)	(157,249)	(109,593)	(94,363)	(75,395)	(71,491)	(85,813)	(74,218)	(100,238)	(69,702)	(62,351)	(68,717)	(72,795)	(47,714)	(54,185)	(55,842)	(64,906)
Cost of services	(64,135)	(61,235)	(44,753)	(63,493)	(44,869)	(50,461)	(62,742)	(53,451)	(44,907)	(49,802)	(32,639)	(23,768)	(22,640)	(24,234)	(23,813)	(25,249)	(23,948)	(25,048)	(21,979)	(22,402)	(20,917)	(19,061)
Cost of revenue	(239,318)	(214,547)	(188,754)	(182,195)	(184,167)	(167,133)	(219,991)	(163,044)	(139,270)	(125,197)	(104,130)	(109,581)	(96,858)	(124,472)	(93,515)	(87,600)	(92,665)	(97,843)	(69,693)	(76,587)	(76,759)	(83,967)
Gross margin	1,345,133)	1,259,673)	1,251,360)	1,156,643)	1,091,274)	1,075,233)	1,135,990)	1,052,455)	921,411)	883,906)	964,493)	913,513)	879,721)	897,218)	806,362)	814,954)	764,856)	803,923)	703,343)	674,308)	651,526)	652,061)
Marketing and sales	(241,034)	(211,485)	(206,778)	(192,560)	(200,595)	(202,700)	(200,406)	(189,763)	(186,725)	(180,589)	(180,368)	(176,215)	(167,070)	(166,666)	(171,817)	(152,925)	(139,296)	(140,186)	(148,068)	(143,401)	(135,967)	(132,826)
Research and development	(531,273)	(508,437)	(464,582)	(423,031)	(442,057)	(439,102)	(392,026)	(407,369)	(370,740)	(378,958)	(367,443)	(369,642)	(354,416)	(350,295)	(350,423)	(323,629)	(286,597)	(290,895)	(288,953)	(289,105)	(285,227)	(270,992)
General and administrative	(88,548)	(88,217)	(103,225)	(78,035)	(69,029)	(63,098)	(70,228)	(71,581)	(63,436)	(68,716)	(75,742)	(58,556)	(54,605)	(53,527)	(68,065)	(73,688)	(51,426)	(48,937)	(65,743)	(42,990)	(40,333)	(39,952)
Amortization of acquired intangibles	(34,315)	(20,210)	(11,578)	(10,233)	(9,204)	(8,922)	(9,153)	(9,148)	(6,667)	(5,407)	(4,981)	(4,612)	(4,302)	(4,267)	(4,927)	(3,946)	(4,633)	(4,964)	(4,979)	(5,000)	(5,030)	(4,631)
Loss related to contingent liability	—)	—)	—)	—)	(128,545)	—)	(8,322)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Restructuring	352)	5)	(1,862)	(27,394)	(47)	109)	1,020)	(24,538)	33)	(280)	569)	(11,582)	—)	—)	(13)	(14)	(16)	(12)	80)	222)	469)	277)
Income from operations	450,315)	431,329)	463,335)	425,390)	241,797)	361,520)	456,875)	350,056)	293,876)	249,956)	336,528)	292,906)	299,328)	322,463)	211,117)	260,752)	282,888)	318,929)	195,680)	194,034)	185,438)	203,937)
Interest expense	(35,136)	(31,613)	(29,440)	(29,035)	(28,948)	(29,118)	(29,907)	(24,495)	(12,905)	(8,692)	(8,989)	(9,059)	(8,877)	(9,260)	(9,082)	(5,463)	(4,281)	(4,108)	(4,251)	(4,196)	(4,316)	(4,217)
Other income (expense), net	95,055)	28,387)	59,066)	(3,572)	67,758)	23,290)	9,684)	7,853)	34,739)	68,779)	34,523)	16,106)	7,973)	8,284)	8,490)	(3,017)	(5,962)	(4,900)	2,625)	(1,143)	2,143)	2,701)
Income before provision for income taxes	510,234)	428,103)	492,961)	392,783)	280,607)	355,692)	436,652)	333,414)	315,710)	310,043)	362,062)	299,953)	298,424)	321,487)	210,525)	252,272)	272,645)	309,921)	194,054)	188,695)	183,265)	202,421)
Provision for income taxes	(143,158)	(92,443)	(104,825)	(105,661)	(120,556)	(82,113)	(96,442)	(95,303)	(86,190)	(62,400)	(38,163)	(45,632)	(77,304)	(79,683)	29,867)	(65,967)	(85,725)	(74,586)	(17,475)	(12,388)	(27,365)	(15,252)
Net income	367,076)	335,660)	388,136)	287,122)	160,051)	273,579)	340,210)	238,111)	229,520)	247,643)	323,899)	254,321)	221,120)	241,804)	240,392)	186,305)	186,920)	235,335)	176,579)	176,307)	155,900)	187,169)

Revenue exhibits a consistent long-term upward trajectory, growing from $736 million in April 2021 to $1.58 billion by June 2026. This growth is primarily underpinned by the Product and Maintenance segment, which rose from $699 million to $1.43 billion over the analyzed period. The Services segment also demonstrated significant expansion, particularly accelerating after December 2023, moving from a range of $36 million to $58 million per quarter in 2021 to peak at $153 million in June 2026.

Gross Profitability and Cost Management: Gross margin grew from $652 million in early 2021 to $1.34 billion by mid-2026. While the total cost of revenue increased from $84 million to $239 million, the rate of revenue growth consistently outpaced the rise in costs. A notable increase in the cost of product and maintenance was observed in the latter half of the period, specifically from December 2024 onward, though this did not derail the overall expansion of the gross margin.
Operating Expenditure Trends: Research and Development (R&D) remains the most significant operating expense and reflects a steady increase, rising from $271 million in April 2021 to $531 million by June 2026. This indicates a sustained commitment to technical innovation. Marketing and sales expenses followed a similar upward trend, increasing from $133 million to $241 million. General and administrative expenses showed more volatility but generally trended upward, ending at $88.5 million in June 2026.
Operating Income and Non-Recurring Items: Income from operations generally trended upward, increasing from $204 million to $450 million. However, this growth was interrupted by significant volatility in 2025. Specifically, a substantial loss related to a contingent liability of $128.5 million in June 2025 caused a sharp temporary decline in operating income. Additionally, restructuring charges appeared sporadically, with a notable negative impact of $27.4 million in September 2025.
Bottom-Line Performance: Net income grew from $187 million in April 2021 to $367 million by June 2026. This growth was influenced by fluctuating provision for income taxes and interest expenses, which rose from $4.2 million to $35.1 million over the period. Other income, net, became a more significant contributor to the pre-tax income in the later years, particularly in June 2026, where it reached $95 million.

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Cadence Design Systems Inc. (NASDAQ:CDNS)

Income StatementQuarterly Data

Income Statement
Quarterly Data