Stock Analysis on Net
Stock Analysis on Net

Cadence Design Systems Inc. (NASDAQ:CDNS)

$24.99

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.

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

US$ in thousands

Microsoft Excel
3 months ended: 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
Services
Revenue
Cost of product and maintenance
Cost of services
Cost of revenue
Gross margin
Marketing and sales
Research and development
General and administrative
Amortization of acquired intangibles
Loss related to contingent liability
Restructuring
Income from operations
Interest expense
Other income (expense), net
Income before provision for income taxes
Provision for income taxes
Net income

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03).

Revenue demonstrates a consistent long-term growth trajectory, increasing from 736 million USD in April 2021 to 1.47 billion USD by March 2026. This expansion is primarily driven by the product and maintenance segment, which grew from 699 million USD to 1.35 billion USD over the period. The services segment, while smaller in scale, also exhibited significant growth, rising from approximately 37 million USD to 125 million USD, indicating a broadening of the company's revenue streams.

Gross Margin and Cost of Revenue
Gross margins remained strong throughout the analyzed period, though the cost of revenue showed an upward trend in line with scaling operations. Cost of revenue rose from 84 million USD in April 2021 to 214 million USD in March 2026. A notable spike in the cost of product and maintenance occurred in December 2024, reaching 157 million USD, which temporarily compressed margins before normalizing in subsequent quarters.
Operating Expenditure Trends
Investment in research and development is the most significant operating expense and showed a steady increase, growing from 271 million USD in April 2021 to 508 million USD in March 2026. Marketing and sales expenses also trended upward, moving from 133 million USD to 211 million USD. General and administrative costs exhibited more volatility but generally increased from 40 million USD to 88 million USD by the end of the period.
Operating Income and Profitability
Income from operations grew from 204 million USD in April 2021 to 431 million USD in March 2026. Despite the overall growth, operating income experienced a sharp decline in June 2025, dropping to 242 million USD. This contraction was primarily attributed to a one-time loss related to a contingent liability of 128 million USD. Excluding this anomaly, the operational trend suggests a scalable business model where revenue growth outpaces the growth of operating expenses.
Net Income and Financial Obligations
Net income evolved from 187 million USD in April 2021 to 336 million USD in March 2026. The bottom line was influenced by an increase in interest expenses, which rose from approximately 4 million USD per quarter in 2021 to over 31 million USD by March 2026. Other income and expenses showed significant volatility, with a substantial positive contribution in June 2025 and December 2025 helping to offset operational pressures during those periods.