Synopsys Inc. Files Q3 2024 10-Q Report
Ticker: SNPS · Form: 10-Q · Filed: 2024-08-23T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, quarterly-filing, financials
Related Tickers: SNPS
TL;DR
SNPS Q3 10-Q filed. Financials and ops details out.
AI Summary
Synopsys Inc. filed its 10-Q for the period ending July 31, 2024. The filing covers the third quarter of their fiscal year. Key financial details and operational updates for this period are detailed within the report.
Why It Matters
This filing provides investors and analysts with the latest financial performance and operational status of Synopsys Inc., crucial for understanding the company's trajectory in the semiconductor and IP market.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Players & Entities
- SYNOPSYS INC (company) — Filer of the 10-Q
- 20240731 (date) — End of the reporting period
- 20240823 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended July 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 23, 2024.
What is Synopsys Inc.'s fiscal year end?
Synopsys Inc.'s fiscal year ends on October 31.
What is the Standard Industrial Classification for Synopsys Inc.?
The Standard Industrial Classification for Synopsys Inc. is SERVICES-PREPACKAGED SOFTWARE [7372].
What is the SEC file number for Synopsys Inc.?
The SEC file number for Synopsys Inc. is 000-19807.
Filing Stats: 4,520 words · 18 min read · ~15 pages · Grade level 16.9 · Accepted 2024-08-23 16:50:41
Key Financial Figures
- $0.01 — registered Common Stock (par value of $0.01 per share) SNPS Nasdaq Global Select M
Filing Documents
- snps-20240731.htm (10-Q) — 2086KB
- ex311073124.htm (EX-31.1) — 9KB
- ex312073124.htm (EX-31.2) — 9KB
- ex321073124.htm (EX-32.1) — 5KB
- snps-20240731_g1.jpg (GRAPHIC) — 12KB
- 0000883241-24-000021.txt ( ) — 11306KB
- snps-20240731.xsd (EX-101.SCH) — 72KB
- snps-20240731_cal.xml (EX-101.CAL) — 134KB
- snps-20240731_def.xml (EX-101.DEF) — 358KB
- snps-20240731_lab.xml (EX-101.LAB) — 889KB
- snps-20240731_pre.xml (EX-101.PRE) — 634KB
- snps-20240731_htm.xml (XML) — 1920KB
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) July 31, 2024 October 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 1,839,815 $ 1,433,966 Short-term investments 154,431 151,639 Total cash, cash equivalents and short-term investments 1,994,246 1,585,605 Accounts receivable, net 805,198 856,660 Inventories 386,009 325,590 Prepaid and other current assets 914,598 548,115 Current assets held for sale 1,027,702 114,654 Total current assets 5,127,753 3,430,624 Property and equipment, net 571,408 549,837 Operating lease right-of-use assets, net 556,593 559,923 Goodwill 3,444,349 3,346,065 Intangible assets, net 266,092 239,577 Deferred income taxes 1,102,716 853,526 Other long-term assets 579,773 444,820 Long-term assets held for sale — 908,759 Total assets $ 11,648,684 $ 10,333,131 LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $ 756,983 $ 1,059,914 Operating lease liabilities 89,869 79,832 Deferred revenue 1,356,804 1,559,461 Current liabilities held for sale 331,294 286,244 Total current liabilities 2,534,950 2,985,451 Long-term operating lease liabilities 568,407 579,686 Long-term deferred revenue 319,080 150,827 Long-term debt 15,599 18,078 Other long-term liabilities 465,233 381,531 Long-term liabilities held for sale — 33,257 Total liabilities 3,903,269 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; 153,613 and 152,053 shares outstanding, respectively 1,536 1,521 Capital in excess of par value 1,192,363 1,276,152 Retained earnings 7,884,044 6,741,699 Treasury stock, at cost: 3,648 and 5,207 shares, respectively ( 1,188,435 ) ( 1,675,650 ) Accumulated o