Cadence management commentary says Q3 2026 revenue tops guidance, raises annual growth outlook to about 21%

• Cadence Design Systems’ management commentary raised the 2026 revenue growth outlook for the third time this year to approximately 21%.
• Third-quarter revenue rose 22% year over year to $1.63 billion, exceeding guidance.
• Product and maintenance revenue increased to $1.49 billion from $1.21 billion a year earlier, while services revenue reached $146 million.
• Non-GAAP operating margin fell to 44.1% from 47.6% a year earlier; non-GAAP earnings per share increased to $2.11 from $1.93.
• Backlog reached a record $8.2 billion, while fourth-quarter revenue guidance indicated 18%-20% year-over-year growth.

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