Cadence Design Systems Files 8-K on Financial Results
Ticker: CDNS · Form: 8-K · Filed: 2024-02-12T00:00:00.000Z
Sentiment: neutral
Topics: financial-results, 8-K, corporate-filing
TL;DR
**CDNS just dropped an 8-K with fresh financial results, time to check the numbers!**
AI Summary
Cadence Design Systems, Inc. filed an 8-K on February 12, 2024, to report on its 'Results of Operations and Financial Condition' and 'Financial Statements and Exhibits.' This filing, under SEC File Number 000-15867, indicates that the company is providing updated financial information to the public. For investors, this matters because it offers a transparent look into the company's recent financial performance, which can influence stock valuation and future investment decisions.
Why It Matters
This filing provides investors with crucial, up-to-date financial information, enabling them to assess Cadence Design Systems' performance and make informed investment decisions.
Risk Assessment
Risk Level: low — This 8-K is a routine disclosure of financial results, which is standard practice and generally does not introduce new risks.
Analyst Insight
A smart investor would review the detailed financial statements and results once they are publicly available to understand the company's current financial health and future outlook before making any investment decisions.
Key Numbers
- 0000813672 — Central Index Key (CIK) (Unique identifier for Cadence Design Systems, Inc. with the SEC)
- 20240212 — Conformed Period of Report (The date the reported event occurred)
- 17 — Public Document Count (Number of documents associated with this filing)
- 000-15867 — SEC File Number (The registration number for Cadence Design Systems, Inc. with the SEC)
- 7372 — Standard Industrial Classification (SIC) (Industry code for Services-Prepackaged Software)
Key Players & Entities
- CADENCE DESIGN SYSTEMS, INC. (company) — the registrant filing the 8-K
- February 12, 2024 (date) — date of earliest event reported and filing date
- 000-15867 (dollar_amount) — SEC File Number for the registrant
- Delaware (company) — State of Incorporation for Cadence Design Systems, Inc.
- 2655 Seely Avenue, San Jose, California 95134 (company) — Address of Principal Executive Offices
Forward-Looking Statements
- Cadence Design Systems will likely see increased investor scrutiny on its financial performance. (CADENCE DESIGN SYSTEMS, INC.) — high confidence, target: Q1 2024 earnings call
FAQ
What is the purpose of this 8-K filing by Cadence Design Systems, Inc.?
This 8-K filing by Cadence Design Systems, Inc. is to report on 'Results of Operations and Financial Condition' and 'Financial Statements and Exhibits' as of February 12, 2024, under Item 2.02 and Item 9.01 respectively.
When was the earliest event reported in this 8-K filing?
The date of the earliest event reported in this 8-K filing was February 12, 2024.
What is the trading symbol and exchange for Cadence Design Systems, Inc.'s Common Stock?
Cadence Design Systems, Inc.'s Common Stock has the trading symbol CDNS and is registered on the Nasdaq Global Select Market.
Is Cadence Design Systems, Inc. considered an emerging growth company according to this filing?
No, the filing indicates with a '☐' that Cadence Design Systems, Inc. is not an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
What is the state of incorporation for Cadence Design Systems, Inc.?
Cadence Design Systems, Inc. is incorporated in Delaware.
Filing Stats: 548 words · 2 min read · ~2 pages · Grade level 9.9 · Accepted 2024-02-12 16:04:39
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share CDNS Nasdaq Global
Filing Documents
- cdns-20240212.htm (8-K) — 31KB
- cdns02122024ex9901.htm (EX-99.01) — 352KB
- cfocommentary02122024ex9902.htm (EX-99.02) — 971KB
- image0a22a.jpg (GRAPHIC) — 53KB
- 0000813672-24-000030.txt ( ) — 1613KB
- cdns-20240212.xsd (EX-101.SCH) — 2KB
- cdns-20240212_lab.xml (EX-101.LAB) — 24KB
- cdns-20240212_pre.xml (EX-101.PRE) — 12KB
- cdns-20240212_htm.xml (XML) — 3KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On February 12, 2024, Cadence Design Systems, Inc. ("Cadence") issued a press release announcing its financial results for the quarter and fiscal year ended December 31, 2023. A copy of the press release is attached hereto as Exhibit 99.01 and a copy of the commentary by the Chief Financial Officer of Cadence regarding Cadence's financial results for the quarter and fiscal year ended December 31, 2023 is attached hereto as Exhibit 99.02, and the press release and the commentary are incorporated herein by reference. The information contained in this Current Report shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.01 Press Release issued by Cadence Design Systems, Inc. on February 12 , 202 4 . 99.02 CFO Commentary on Results of Quarter and Fiscal Year Ended December 31 , 2023. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: February 12, 2024 CADENCE DESIGN SYSTEMS, INC. By: /s/ John M. Wall John M. Wall Senior Vice President and Chief Financial Officer