Cadence Design Systems Inc

Company facts

Industry

Services-Prepackaged Software

Headquarters

San Jose, California

Most recent report

10-Q, filed Oct 28, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 813672

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 4 of 13 sections worth reading, with 0 positive, 8 notable, and 4 negative flags.

• Financial Statements (Item 1)

  Financial statements and notes with acquisition, debt, and cash details.
  Notable

  • Board authorized $2.5B additional buyback on Oct 23, 2026, on top of $601.6M remaining authorization.
  • Deferred tax liabilities surged $299.5M to $347.5M due to intangible assets acquired in the Hexagon deal.

• Management's Discussion (Item 2)

  MD&A with detailed revenue, cost, and liquidity data; key metrics and risks.
  Notable

  • 2027 Notes reclassified as current liability; $500M due within 12 months.
  • $150M drawn on $1.25B credit facility as of September 30, 2026; covenants complied with.

• Market Risk (Item 3)

  Large drop in hedge notional ($3.3B to $985.7M) and sensitivity, tied to a past acquisition.
  Notable

  • Hedge notional fell from $3.3B to $985.7M between Dec 2025 and Sep 2026, reflecting the Hexagon deal closing.
  • 10% USD sensitivity dropped from ~$213M to ~$6M, explained by the euro-denominated Hexagon purchase consideration hedge.
  • Debt securities fair value was $80.7M at Sep 2026; a 1% rate rise would cut value by $3.6M.

• Risk Factors (Item 1A)

  Three updated risk factors with company-specific events: export settlement, China trade exposure, cyber incident.
  Notable

  • A threat actor obtained limited source code and config files in early 2026; incident contained, no customer impact.
  Negative

  • Temporary license requirements for China EDA exports in mid-2025 negatively impacted China revenue.
  • U.S. may reimpose China EDA export restrictions; BIS suspension of 50% ownership rule not yet formalized.
  • China's 2030 semiconductor self-sufficiency goal may increase competitive capability and reduce Cadence's market.
  • Paid $140.6M in net penalties in Q3 2025 to settle export violations; guilty plea with 3-year probation.

What changed: Sep 2026 vs. Jun 2026

About 9% of CDNS's Sep 2026 10-Q is new information. 29 paragraphs were added, 185 changed, and 10 removed. Below are the most important lines SECSift identified.

• Item 1 68
• Item 2 66
• Item 1A 13
• Item 3 6
• Item 5 3
• Item 4 3
• Item 6 2