Stock Analysis on Net

Synopsys Inc. (NASDAQ:SNPS)

Income Statement
Quarterly Data

Synopsys Inc., consolidated income statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: Apr 30, 2026 Jan 31, 2026 Oct 31, 2025 Jul 31, 2025 Apr 30, 2025 Jan 31, 2025 Oct 31, 2024 Jul 31, 2024 Apr 30, 2024 Jan 31, 2024 Oct 31, 2023 Jul 31, 2023 Apr 30, 2023 Jan 31, 2023 Oct 31, 2022 Jul 31, 2022 Apr 30, 2022 Jan 31, 2022 Oct 31, 2021 Jul 31, 2021 Apr 30, 2021 Jan 31, 2021 Oct 31, 2020 Jul 31, 2020 Apr 30, 2020 Jan 31, 2020
Time-based products 945,624 951,541 940,681 892,364 828,326 828,238 834,375 803,147 781,714 805,063 870,249 922,874 808,196 782,313 808,160 754,322 723,821 707,483 688,116 665,563 648,794 631,290 606,598 612,065 590,097 556,439
Upfront products 546,252 741,530 615,398 516,404 510,676 368,124 520,939 442,528 396,389 442,366 449,181 297,967 345,524 336,658 253,245 268,584 336,625 368,274 274,265 203,301 209,116 174,381 244,155 210,931 129,765 150,721
Products revenue 1,491,876 1,693,071 1,556,079 1,408,768 1,339,002 1,196,362 1,355,314 1,245,675 1,178,103 1,247,429 1,319,430 1,220,841 1,153,720 1,118,971 1,061,405 1,022,906 1,060,446 1,075,757 962,381 868,864 857,910 805,671 850,753 822,996 719,862 707,160
Maintenance and service 784,109 715,727 698,781 330,969 265,264 258,953 280,672 280,074 276,609 263,560 279,698 266,447 241,143 242,369 222,887 224,860 218,783 194,498 190,038 188,266 166,413 164,650 174,686 141,138 141,465 127,221
Revenue 2,275,985 2,408,798 2,254,860 1,739,737 1,604,266 1,455,315 1,635,986 1,525,749 1,454,712 1,510,989 1,599,128 1,487,288 1,394,863 1,361,340 1,284,292 1,247,766 1,279,229 1,270,255 1,152,419 1,057,130 1,024,323 970,321 1,025,439 964,134 861,327 834,381
Products (232,897) (242,402) (251,212) (230,895) (216,216) (168,842) (216,485) (179,536) (198,719) (175,498) (213,586) (190,809) (184,732) (174,367) (173,617) (164,077) (150,690) (165,399) (152,437) (127,592) (134,738) (127,347) (142,838) (118,478) (108,207) (117,784)
Maintenance and service (148,597) (146,738) (154,217) (103,301) (94,471) (92,537) (91,707) (96,630) (88,178) (90,540) (98,779) (98,299) (95,410) (91,347) (89,313) (87,774) (87,666) (78,225) (68,992) (65,604) (67,840) (68,766) (69,991) (60,812) (62,213) (61,915)
Amortization of acquired intangible assets (248,356) (248,242) (249,234) (46,368) (7,660) (8,596) (66,831) (14,510) (13,500) (13,155) (19,978) (18,374) (17,872) (18,640) (19,791) (19,330) (14,455) (13,360) (13,297) (11,870) (11,408) (11,886) (11,720) (13,718) (13,845) (13,169)
Cost of revenue (629,850) (637,382) (654,663) (380,564) (318,347) (269,975) (375,023) (290,676) (300,397) (279,193) (332,343) (307,482) (298,014) (284,354) (282,721) (271,181) (252,811) (256,984) (234,726) (205,066) (213,986) (207,999) (224,549) (193,008) (184,265) (192,868)
Gross margin 1,646,135 1,771,416 1,600,197 1,359,173 1,285,919 1,185,340 1,260,963 1,235,073 1,154,315 1,231,796 1,266,785 1,179,806 1,096,849 1,076,986 1,001,571 976,585 1,026,418 1,013,271 917,693 852,064 810,337 762,322 800,890 771,126 677,062 641,513
Research and development (700,124) (714,988) (746,842) (625,301) (553,979) (553,216) (554,818) (508,872) (493,136) (525,534) (488,485) (507,402) (485,597) (465,329) (461,618) (444,826) (389,964) (383,971) (413,864) (371,146) (362,345) (357,468) (339,566) (322,602) (302,571) (314,283)
Sales and marketing (381,998) (396,375) (390,491) (259,480) (215,021) (209,199) (219,225) (211,491) (209,783) (218,843) (228,982) (227,134) (222,115) (210,785) (208,448) (199,246) (191,573) (180,510) (197,681) (171,428) (172,754) (170,628) (176,499) (156,456) (146,200) (152,855)
General and administrative (172,418) (182,732) (185,515) (280,550) (136,497) (167,086) (172,032) (150,437) (114,763) (131,264) (112,150) (109,714) (91,083) (97,364) (107,414) (91,461) (73,957) (81,008) (88,960) (83,846) (72,694) (77,488) (79,796) (73,516) (62,474) (68,744)
Amortization of acquired intangible assets (155,275) (155,993) (155,956) (28,573) (3,996) (4,000) (4,086) (4,062) (4,561) (3,529) (8,029) (6,697) (6,582) (6,717) (6,718) (7,124) (6,912) (9,000) (8,646) (8,570) (8,313) (8,390) (9,284) (9,931) (10,250) (9,364)
Restructuring charges (115,894) (118,282) 1,382 (33,385) (4,140) (40,859) (311) (11,746) (18,254) (15,151) 387 1,977 (29,672) (8,751)
Operating expenses (1,525,709) (1,568,370) (1,478,804) (1,193,904) (909,493) (933,501) (950,161) (874,862) (822,243) (879,170) (836,264) (884,332) (809,517) (821,054) (784,198) (742,657) (662,717) (666,235) (727,405) (650,141) (616,106) (613,974) (604,758) (560,528) (551,167) (553,997)
Operating income 120,426 203,046 121,393 165,269 376,426 251,839 310,802 360,211 332,072 352,626 430,521 295,474 287,332 255,932 217,373 233,928 363,701 347,036 190,288 201,923 194,231 148,348 196,132 210,598 125,895 87,516
Interest expense (133,364) (162,715) (194,752) (146,502) (94,336) (11,139) (14,614) (11,742) (7,067) (1,738)
Other income (expense), net 32,214 38,722 589,883 170,543 114,101 50,417 26,691 43,526 16,525 106,566 (20,830) 25,808 4,253 23,292 (5,244) 2,426 (23,913) (19,793) 8,790 11,414 21,764 28,756 (4,566) 26,256 (15,729) 12,057
Income before income taxes 19,276 79,053 516,524 189,310 396,191 291,117 322,879 391,995 341,530 457,454 409,691 321,282 291,585 279,224 212,129 236,354 339,788 327,243 199,078 213,337 215,995 177,104 191,566 236,854 110,166 99,573
(Provision) benefit for income taxes (2,408) (14,337) (68,071) 52,967 (47,181) 6,294 (62,084) 30,712 (45,437) (22,909) (63,196) 11,773 (21,637) (10,597) (60,572) (16,708) (45,896) (13,902) 2,059 (14,945) (21,193) (15,076) 4,989 16,057 (246) 4,488
Net income from continuing operations 16,868 64,716 448,453 242,277 349,010 297,411 260,795 422,707 296,093 434,545 346,495 333,055 269,948 268,627 151,557 219,646 293,892 313,341 201,137 198,392 194,802 162,028 196,555 252,911 109,920 104,061
Income (loss) from discontinued operations, net of income taxes (3,900) 834,825 (17,813) (7,004) 11,662
Net income 16,868 64,716 448,453 242,277 345,110 297,411 1,095,620 404,894 289,089 446,207 346,495 333,055 269,948 268,627 151,557 219,646 293,892 313,341 201,137 198,392 194,802 162,028 196,555 252,911 109,920 104,061
Net (income) loss attributed to non-controlling interest and redeemable non-controlling interest 237 242 243 232 222 (1,728) 18,486 3,161 3,018 2,905 2,695 3,197 2,962 2,909 1,943 2,980 889 346 310 254 276 317 900
Net income attributed to Synopsys 17,105 64,958 448,696 242,509 345,332 295,683 1,114,106 408,055 292,107 449,112 349,190 336,252 272,910 271,536 153,500 222,626 294,781 313,687 201,447 198,646 195,078 162,345 197,455 252,911 109,920 104,061

Based on: 10-Q (reporting date: 2026-04-30), 10-Q (reporting date: 2026-01-31), 10-K (reporting date: 2025-10-31), 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31).


Revenue exhibits a sustained upward trajectory over the analyzed period, increasing from approximately $834 million in January 2020 to over $2.2 billion by April 2026. This growth is characterized by a steady rise in products revenue, supplemented by a significant and abrupt acceleration in maintenance and service revenue beginning in July 2025, where values climbed from $330 million to $784 million within a one-year period.

Gross Margin and Cost of Revenue
Gross margin grew in absolute terms from $641 million to $1.64 billion. However, the cost of revenue structure shifted markedly starting in October 2024. A substantial increase in the amortization of acquired intangible assets—rising from roughly $13 million per quarter in early 2020 to a peak of $249 million in July 2025—suggests the integration of significant acquisitions that increased the cost base.
Operating Expense Trends
Operating expenses showed aggressive growth, particularly in Research and Development, which expanded from $314 million to approximately $700 million. Sales and marketing expenses remained relatively stable until July 2025, after which they spiked from $259 million to nearly $382 million. General and administrative expenses also experienced a sharp increase in mid-2025, contributing to an overall rise in the operating cost structure.
Operating Income Performance
Operating income peaked in October 2023 at $430 million but entered a period of volatility and decline thereafter. Despite the growth in top-line revenue, the surge in operating expenses and amortization charges compressed operating margins, with operating income falling to $120 million by April 2026.
Net Income and Non-Operating Items
Net income is characterized by high volatility, most notably in October 2024, when a gain of $834 million from discontinued operations resulted in a peak net income of $1.09 billion. Excluding this anomaly, a downward trend in net income attributed to the company is evident in the final four quarters, dropping to $17 million by April 2026.
Interest and Leverage
Interest expenses were absent from the records until January 2024, after which they grew rapidly, reaching $133 million by April 2026. This trend indicates a significant increase in debt obligations, likely associated with the aforementioned acquisition activity, which has further pressured the bottom-line profitability.

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