Synopsys Inc. Files 10-Q for Q2 2024
Ticker: SNPS · Form: 10-Q · Filed: 2024-05-24T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, software
Related Tickers: SNPS
TL;DR
SNPS 10-Q filed: Q2 2024 results out. Check financials.
AI Summary
Synopsys Inc. filed its 10-Q for the period ending April 30, 2024. The company reported financial results for its second fiscal quarter of 2024. Key financial data and operational details are presented in this filing, which covers the period from February 1, 2024, to April 30, 2024.
Why It Matters
This filing provides investors and analysts with the latest financial performance and operational updates for Synopsys Inc., crucial for understanding the company's current standing and future prospects in the semiconductor and software industry.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks.
Key Players & Entities
- SYNOPSYS INC (company) — Filer of the 10-Q
- 20240430 (date) — End of reporting period
- 20240524 (date) — Filing date
- 0000883241 (company) — Central Index Key for Synopsys Inc.
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240430, indicating the period ending April 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on 20240524.
What is Synopsys Inc.'s fiscal year end?
Synopsys Inc.'s fiscal year ends on 1031 (October 31).
What is the SIC code for Synopsys Inc.?
The Standard Industrial Classification code for Synopsys Inc. is 7372, which corresponds to SERVICES-PREPACKAGED SOFTWARE.
What are the business and mail addresses for Synopsys Inc.?
The business and mail address for Synopsys Inc. is 675 ALMANOR AVE, SUNNYVALE, CA 94085.
Filing Stats: 4,534 words · 18 min read · ~15 pages · Grade level 16.4 · Accepted 2024-05-24 16:31:20
Key Financial Figures
- $0.01 — registered Common Stock (par value of $0.01 per share) SNPS Nasdaq Global Select M
Filing Documents
- snps-20240430.htm (10-Q) — 2110KB
- ex311043024.htm (EX-31.1) — 9KB
- ex312043024.htm (EX-31.2) — 9KB
- ex321043024.htm (EX-32.1) — 5KB
- snps-20240430_g1.jpg (GRAPHIC) — 12KB
- 0000883241-24-000016.txt ( ) — 11324KB
- snps-20240430.xsd (EX-101.SCH) — 71KB
- snps-20240430_cal.xml (EX-101.CAL) — 134KB
- snps-20240430_def.xml (EX-101.DEF) — 353KB
- snps-20240430_lab.xml (EX-101.LAB) — 881KB
- snps-20240430_pre.xml (EX-101.PRE) — 628KB
- snps-20240430_htm.xml (XML) — 1939KB
Financial Information
PART I. Financial Information 1
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Income 3 Condensed Consolidated Statements of Comprehensive Income 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 47
Controls and Procedures
Item 4. Controls and Procedures 48
Other Information
PART II. Other Information 49
Legal Proceedings
Item 1. Legal Proceedings 49
Risk Factors
Item 1A. Risk Factors 50
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 69
Other Information
Item 5. Other Information 69
Exhibits
Item 6. Exhibits 70
Signatures
Signatures 72
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements SYNOPSYS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands, except par value amounts) April 30, 2024 October 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,502,920 $ 1,433,966 Short-term investments 156,780 151,639 Total cash, cash equivalents and short-term investments 1,659,700 1,585,605 Accounts receivable, net 834,918 856,660 Inventories 377,875 325,590 Prepaid and other current assets 760,269 548,115 Current assets held for sale 1,020,358 114,654 Total current assets 4,653,120 3,430,624 Property and equipment, net 566,832 549,837 Operating lease right-of-use assets, net 528,011 559,923 Goodwill 3,427,424 3,346,065 Intangible assets, net 276,877 239,577 Deferred income taxes 1,004,660 853,526 Other long-term assets 554,913 444,820 Long-term assets held for sale — 908,759 Total assets $ 11,011,837 $ 10,333,131 LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 635,916 $ 1,059,914 Operating lease liabilities 84,550 79,832 Deferred revenue 1,457,282 1,559,461 Current liabilities held for sale 330,602 286,244 Total current liabilities 2,508,350 2,985,451 Long-term operating lease liabilities 543,207 579,686 Long-term deferred revenue 307,965 150,827 Long-term debt 16,960 18,078 Other long-term liabilities 446,514 381,531 Long-term liabilities held for sale — 33,257 Total liabilities 3,822,996 4,148,830 Redeemable non-controlling interest 31,043 31,043 Stockholders' equity: Preferred stock, $ 0.01 par value: 2,000 shares authorized; none outstanding — — Common stock, $ 0.01 par value: 400,000 shares authorized; 153,204 and 152,053 shares outstanding, respectively 1,532 1,521 Capital in excess of par value 1,182,829 1,276,152 Retained earnings 7,478,366 6,741,699 Treasury stock, at cost: 4,056 and 5,207 shares, respectively ( 1,321,554 ) ( 1,675,650 ) Accumulated