Cadence Design Systems reported third-quarter 2026 revenue of $1.633 billion, up 22% year-over-year, with non-GAAP diluted earnings per share of $2.11. The company raised its full-year 2026 revenue growth outlook to approximately 21%, citing strong momentum in AI-driven designs and a record backlog of $8.2 billion. Additionally, the board authorized an additional $2.5 billion for the existing share repurchase program. Cadence is a market leader in electronic design automation software and services.
