Cadence (CDNS) Stock Jumps 3% as Record Backlog and Earnings Beat Turn Heads

TLDR

• Cadence reported Q2 adjusted EPS of $2.11, beating the $2.05 estimate
• Revenue grew 24% year over year to $1.58 billion
• The company ended Q2 with a record backlog of $8.1 billion
• Full-year adjusted EPS guidance raised to $8.05–$8.15, up from $7.85–$7.95
• CDNS stock was up 3.25% in premarket trading Tuesday

Cadence Design Systems (CDNS) stock climbed 3.25% in premarket trading Tuesday, hitting $349.60, after the company posted a strong second quarter that topped Wall Street expectations on both earnings and revenue.

Cadence Design Systems, Inc., CDNS

Adjusted EPS came in at $2.11, above the consensus estimate of $2.05. Revenue grew 24% year over year to $1.584 billion, just edging past analyst forecasts of $1.577 billion.

The quarter was driven by what Cadence described as accelerating demand across both “design for AI” and “AI for design” — two distinct but related tailwinds the company has been leaning into.

CADENCE $CDNS Q2’26 EARNINGS HIGHLIGHTS

🔹 Revenue: $1.58B (Est. $1.58B) 🟡; +24% YoY
🔹 Adj. EPS: $2.11 (Est. $2.06) 🟢; +28% YoY
🔹 Backlog: $8.1B; record backlog
🔹 Non-GAAP Operating Margin: 45.5%; +270 bps YoY

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