• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Synopsys Posts Financial Results for Third Quarter Fiscal Year 2024

    8/21/24 4:05:00 PM ET
    $SNPS
    Computer Software: Prepackaged Software
    Technology
    Get the next $SNPS alert in real time by email

    Results Summary1 

    • Record quarterly revenue of $1.526 billion, up approximately 13% year over year.
    • Quarterly GAAP earnings per diluted share of $2.73; non-GAAP earnings per diluted share of $3.43, up approximately 27% year over year and exceeding guidance.
    • Expecting record full-year revenue with growth of approximately 15% driven by continued, strong execution and business momentum.

    SUNNYVALE, Calif., Aug. 21, 2024 /PRNewswire/ -- Synopsys, Inc. (NASDAQ:SNPS) today reported results for its third quarter of fiscal year 2024. Revenue for the third quarter of fiscal year 2024 was $1.526 billion, compared to $1.354 billion for the third quarter of fiscal year 2023.  

    Synopsys headquarters in Sunnyvale, Calif. (PRNewsfoto/Synopsys, Inc.)

    "Our strong third quarter results and expectations for a record year continue to demonstrate the resiliency of Synopsys' business," said Sassine Ghazi, president and CEO of Synopsys. "The complexity and pace of technology innovation is accelerating as silicon and systems companies race to capitalize on AI in this era of pervasive intelligence. Synopsys is mission-critical to technology innovation and our customer set is expanding as more companies in more industries define and optimize system performance at the silicon level."

    "Synopsys delivered an excellent third quarter, setting a new quarterly revenue record and achieving non-GAAP EPS above our guidance range," said Shelagh Glaser, CFO of Synopsys. "The strong momentum across the business is a result of our leadership products and relentless execution. For the full year, we expect to achieve revenue growth of approximately 15% and non-GAAP EPS growth of approximately 24% while expanding non-GAAP operating margin by two points."

    ____________________________________________

    1 Synopsys' Software Integrity business has been presented as a discontinued operation in the consolidated financial statements for all periods presented herein and all financial results and targets are presented herein on a continuing operations basis unless otherwise noted.

    Continuing Operations 

    On May 5, 2024, Synopsys entered into an agreement to sell its Software Integrity business. Unless otherwise noted, Synopsys' Software Integrity business has been presented as a discontinued operation in the consolidated financial statements for all periods presented herein and all financial results and targets are presented herein on a continuing operations basis.

    GAAP Results 

    On a U.S. generally accepted accounting principles (GAAP) basis, net income for the third quarter of fiscal year 2024 was $425.9 million, or $2.73 per diluted share, compared to $335.7 million, or $2.17 per diluted share, for the third quarter of fiscal year 2023.

    Non-GAAP Results

    On a non-GAAP basis, net income for the third quarter of fiscal year 2024 was $535.5 million, or $3.43 per diluted share, compared to non-GAAP net income of $419.0 million, or $2.70 per diluted share, for the third quarter of fiscal year 2023.

    For a reconciliation of net income, earnings per diluted share and other measures on a GAAP and non-GAAP basis, see "GAAP to Non-GAAP Reconciliation" in the accompanying tables below. 

    Business Segments 

    Synopsys reports revenue and operating income in two segments: (1) Design Automation, which includes our advanced silicon design, verification products and services, system integration products and services, digital, custom and field programmable gate array IC design software, verification software and hardware products, manufacturing software products and other and (2) Design IP, which includes our Synopsys IP portfolio.

    Financial Targets 

    Synopsys also provided its consolidated financial targets for continuing operations for the fourth quarter and full fiscal year 2024. The fiscal year targets include the impact of an extra week in fiscal year 2024, which was included in the first quarter of fiscal year 2024. These financial targets assume no further changes to export control restrictions or the current U.S. government "Entity List" restrictions. These targets constitute forward-looking statements and are based on current expectations. For a discussion of factors that could cause actual results to differ materially from these targets, see "Forward-Looking Statements" below. 

    Fourth Quarter and Full Fiscal Year 2024 Financial Targets (1)(2)

    (in millions except per share amounts)















     Range for Three Months Ending



    Range for Fiscal Year Ending



    October 31, 2024



    October 31, 2024



    Low

    High



    Low

    High

    Revenue

    $              1,614

    $              1,644



    $              6,105

    $              6,135

    GAAP Expenses

    $              1,210

    $              1,230



    $              4,577

    $              4,597

    Non-GAAP Expenses

    $              1,027

    $              1,037



    $              3,760

    $              3,770

    Non-GAAP Interest and Other Income (Expense), net

    $                     8

    $                   10



    $                   41

    $                   43

    Non-GAAP Tax Rate

    15 %

    15 %



    15 %

    15 %

    Outstanding Shares (fully diluted)

    155

    157



    155

    157

    GAAP EPS

    $                2.25

    $                2.39



    $                9.71

    $                9.85

    Non-GAAP EPS

    $                3.27

    $                3.32



    $              13.07

    $              13.12

    Operating Cash Flow







    ~ $1,300

    Free Cash Flow(3)







    ~ $1,100

    Capital Expenditures







    ~ $200













    (1) Synopsys' fourth quarter of fiscal year 2024 and its fiscal year 2024 will end on November 2, 2024. For presentation purposes, we refer to the

    closest calendar month end. The first quarter of fiscal year 2024 included one extra week. 

    (2) Presented on a continuing operations basis.

    (3) Free cash flow is calculated as cash provided from operating activities less capital expenditures and capitalization of software development costs.

    For a reconciliation of Synopsys' fourth quarter and fiscal year 2024 targets, including expenses, earnings per diluted share and other measures on a GAAP and non-GAAP basis and a discussion of the financial targets that we are not able to reconcile without unreasonable efforts, see "GAAP to Non-GAAP Reconciliation" in the accompanying tables below. 

    Earnings Call Open to Investors

    Synopsys will hold a conference call for financial analysts and investors today at 2:00 p.m. Pacific Time. A live webcast of the call will be available on Synopsys' corporate website at investor.synopsys.com. Synopsys uses its website as a tool to disclose important information about Synopsys and comply with its disclosure obligations under Regulation Fair Disclosure. A webcast replay will also be available on the corporate website from approximately 5:30 p.m. Pacific Time today through the time Synopsys announces its results for the fourth quarter and fiscal year 2024 in December 2024. 

    Effectiveness of Information

    The targets included in this press release, the statements made during the earnings conference call, the information contained in the financial supplement and the corporate overview presentation, each of which are available on Synopsys' corporate website at www.synopsys.com (collectively, the "Earnings Materials"), represent Synopsys' expectations and beliefs as of August 21, 2024. Although these Earnings Materials will remain available on Synopsys' website through the date of the earnings call for the fourth quarter and fiscal year 2024, their continued availability through such date does not mean that Synopsys is reaffirming or confirming their continued validity. Synopsys undertakes no duty and does not intend to update any forward-looking statement, whether as a result of new information or future events, or otherwise update, the targets given in this press release unless required by law.

    Availability of Final Financial Statements

    Synopsys will include final financial statements for the third quarter of fiscal year 2024 in its quarterly report on Form 10-Q to be filed on or before September 12, 2024.

    About Synopsys

    Catalyzing the era of pervasive intelligence, Synopsys, Inc. (NASDAQ:SNPS) delivers trusted and comprehensive silicon to systems design solutions, from electronic design automation to silicon IP and system verification and validation. We partner closely with semiconductor and systems customers across a wide range of industries to maximize their R&D capability and productivity, powering innovation today that ignites the ingenuity of tomorrow. Learn more at www.synopsys.com.

    Reconciliation of Third Quarter Fiscal Year 2024 Results

    The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP net income, earnings per diluted share, and tax rate for the periods indicated below.

    GAAP to Non-GAAP Reconciliation of Third Quarter Fiscal Year 2024 Results(1)

    (unaudited and in thousands, except per share amounts)













    Three Months Ended

    Nine Months Ended



    July 31,

    July 31,



    2024

    2023

    2024

    2023

    GAAP net income from continuing operations

    attributed to Synopsys

    $                425,868

    $        335,708

    $     1,162,429

    $        880,994

    Adjustments:









    Amortization of acquired intangible assets

    17,436

    11,951

    49,962

    35,591

    Stock-based compensation

    164,029

    131,092

    491,516

    383,444

    Acquisition/divestiture related items

    53,022

    4,840

    110,210

    9,815

    Restructuring charges

    —

    21,879

    —

    54,439

    Gain on sale of strategic investments

    —

    —

    (55,077)

    —

    Tax settlement

    —

    (23,752)

    —

    (23,752)

    Tax adjustments

    (124,903)

    (62,685)

    (231,164)

    (168,717)

    Non-GAAP net income from continuing operations

    attributed to Synopsys

    $               535,452

    $       419,033

    $    1,527,876

    $    1,171,814

































    Three Months Ended

    Nine Months Ended



    July 31,

    July 31,



    2024

    2023

    2024

    2023

    GAAP net income from continuing operations per diluted share

    attributed to Synopsys

    $                      2.73

    $              2.17

    $              7.46

    $              5.68

    Adjustments:









    Amortization of acquired intangible assets

    0.11

    0.08

    0.32

    0.23

    Stock-based compensation

    1.05

    0.85

    3.15

    2.47

    Acquisition/divestiture related items

    0.34

    0.03

    0.71

    0.06

    Restructuring charges

    —

    0.14

    —

    0.35

    Gain on sale of strategic investments

    —

    —

    (0.35)

    —

    Tax settlement

    —

    (0.15)

    —

    (0.15)

    Tax adjustments

    (0.80)

    (0.42)

    (1.49)

    (1.09)

    Non-GAAP net income from continuing operations per diluted share

    attributed to Synopsys

    $                      3.43

    $              2.70

    $              9.80

    $              7.55





















    Shares used in computing net income per diluted share amounts:

    156,131

    154,947

    155,863

    155,119











    (1) Synopsys' third quarter of fiscal year 2024 and 2023 ended on August 3, 2024 and July 29, 2023, respectively.

    For presentation purposes, we refer to the closest calendar month end. The first quarter of fiscal year 2024

    included one extra week.

     

    GAAP to Non-GAAP Tax Rate Reconciliation (1)(2)

    (unaudited)









    Three Months Ended

    Nine Months Ended



    July 31, 2024

    July 31, 2024







    GAAP effective tax rate

    (7.8) %

    3.2 %

    Income tax effect of above non-GAAP adjustments

    22.8 %

    11.8 %

    Non-GAAP effective tax rate

    15.0 %

    15.0 %







    (1) Synopsys' third quarter of fiscal year 2024 ended on August 3, 2024. For presentation purposes, we refer to

    the closest calendar month end. The first quarter of fiscal year 2024 included one extra week.

    (2) Presented on a continuing operations basis.

    Reconciliation of 2024 Targets

    The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP targets for the periods indicated below.

    GAAP to Non-GAAP Reconciliation of Fourth Quarter Fiscal Year 2024 Targets (1)(2)

    (in thousands, except per share amounts)





















     Range for Three Months Ending





    October 31, 2024





    Low



    High

    Target GAAP expenses



    $         1,210,000



    $         1,230,000

    Adjustments:









          Amortization of acquired intangible assets



    (15,000)



    (18,000)

          Stock-based compensation



    (168,000)



    (175,000)

    Target non-GAAP expenses



    $         1,027,000



    $         1,037,000































    Range for Three Months Ending





    October 31, 2024





    Low



    High

    Target GAAP earnings per diluted share attributed to Synopsys



    $                  2.25



    $                  2.39

    Adjustments:









          Amortization of acquired intangible assets



    0.12



    0.10

          Stock-based compensation



    1.12



    1.08

          Acquisition/divestiture related items (3)



    0.11



    0.08

          Tax adjustments



    (0.33)



    (0.33)

    Target non-GAAP earnings per diluted share attributed to Synopsys



    $                  3.27



    $                  3.32











    Shares used in non-GAAP calculation (midpoint of target range)



    156,000



    156,000





















    GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2024 Targets (1)(2)

    (in thousands, except per share amounts)





















    Range for Fiscal Year Ending





    October 31, 2024





    Low



    High

    Target GAAP expenses



    $         4,576,771



    $         4,596,771

    Adjustments:









          Amortization of acquired intangible assets



    (65,000)



    (68,000)

          Stock-based compensation



    (660,000)



    (667,000)

          Acquisition/divestiture related items



    (91,771)



    (91,771)

    Target non-GAAP expenses



    $         3,760,000



    $         3,770,000































    Range for Fiscal Year Ending





    October 31, 2024





    Low



    High

    Target GAAP earnings per diluted share attributed to Synopsys



    $                  9.71



    $                  9.85

    Adjustments:









          Amortization of acquired intangible assets



    0.44



    0.42

          Stock-based compensation



    4.27



    4.23

          Acquisition/divestiture related items (3)



    0.82



    0.79

          Gain on sale of strategic investments



    (0.35)



    (0.35)

          Tax adjustments



    (1.82)



    (1.82)

    Target non-GAAP earnings per diluted share attributed to Synopsys



    $                13.07



    $                13.12











    Shares used in non-GAAP calculation (midpoint of target range)



    156,000



    156,000











    (1) Synopsys' fourth quarter of fiscal year 2024 and its fiscal year 2024 will end on November 2, 2024. For

    presentation purposes, we refer to the closest calendar month end. The first quarter of fiscal year 2024 included

    one extra week.

    (2) Presented on a continuing operations basis.

    (3) Adjustments reflect actual expenses incurred by Synopsys as of August 3, 2024 as well as certain

    contractually obligated financing fees and related amortization expenses, and do not fully reflect all potential

    adjustments for future periods for the reasons set forth in "GAAP to Non-GAAP Reconciliation" below.

    Forward-Looking Statements

    This press release and the investor conference call contain forward-looking statements, including, but not limited to, statements regarding short-term and long-term financial targets, expectations and objectives, including, among others, the anticipated effects of our pending acquisition of ANSYS, Inc. (the Ansys Merger); strategies related to our products, technology and services; business and market outlook, opportunities, strategies and technological trends, such as artificial intelligence; the Ansys Merger, including, among other things, its anticipated benefits; planned dispositions and their expected impact, such as the previously announced divestiture of our Software Integrity business (the Software Integrity Divestiture); the potential impact of the uncertain macroeconomic and geopolitical environment on our financial results; the expected impact of U.S. and foreign government actions and regulatory changes, including export control restrictions on our financial results; customer demand and market expansion; our planned product releases and capabilities; industry growth rates; the expected realization of our contracted but unsatisfied or partially unsatisfied performance obligations (backlog); software trends; planned stock repurchases; our expected tax rate; and the impact and result of pending legal, administrative and tax proceedings. These statements involve risks, uncertainties and other factors that could cause our actual results, time frames or achievements to differ materially from those expressed or implied in such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: macroeconomic conditions and geopolitical uncertainty in the global economy; uncertainty in the growth of the semiconductor and electronics industries; the highly competitive industry we operate in; actions by the U.S. or foreign governments, such as the imposition of additional export restrictions or tariffs; consolidation among our customers and our dependence on a relatively small number of large customers; risks and compliance obligations relating to the global nature of our operations; failure to complete the Ansys Merger on the terms described in our filings with the SEC, if at all; failure to obtain required governmental approvals related to the Ansys Merger or the imposition of conditions to such governmental approvals that may have an adverse effect on us; failure to realize the benefits expected from the Ansys Merger; failure to complete the Software Integrity Divestiture, or the Software Integrity Divestiture disrupting our business or failing to achieve its intended benefits, and more. Additional information on potential risks, uncertainties and other factors that could affect Synopsys' results is included in filings we make with the SEC from time to time, including in the sections entitled "Risk Factors" in our latest Annual Report on Form 10-K and in our latest Quarterly Report on Form 10-Q. The financial information contained in this press release should be read in conjunction with the consolidated financial statements and notes thereto included in Synopsys' most recent reports on Forms 10-K and 10-Q, each as may be amended from time to time. Synopsys' financial results for its third quarter of fiscal year 2024 are not necessarily indicative of Synopsys' operating results for any future periods. The information provided herein is as of August 21, 2024. Synopsys undertakes no duty to, and does not intend to, update any forward-looking statement, whether as a result of new information, future events or otherwise, unless required by law.

    SYNOPSYS, INC.

    Unaudited Condensed Consolidated Statements of Income (1)

    (in thousands, except per share amounts)



























    Three Months Ended



    Nine Months Ended



    July 31,



    July 31,



    2024

    2023



    2024

    2023

    Revenue:











      Time-based products

    $             803,147

    $             827,396



    $          2,389,924

    $          2,235,531

      Upfront products

    442,528

    292,653



    1,281,283

    958,631

        Total products revenue

    1,245,675

    1,120,049



    3,671,207

    3,194,162

      Maintenance and service

    280,074

    234,341



    820,243

    656,469

          Total revenue

    1,525,749

    1,354,390



    4,491,450

    3,850,631

    Cost of revenue:











      Products

    179,536

    174,460



    553,753

    500,146

      Maintenance and service

    96,630

    74,978



    275,348

    211,833

      Amortization of acquired intangible assets

    14,510

    10,994



    41,165

    32,683

          Total cost of revenue

    290,676

    260,432



    870,266

    744,662

    Gross margin

    1,235,073

    1,093,958



    3,621,184

    3,105,969

    Operating expenses:











      Research and development

    508,872

    484,470



    1,527,542

    1,384,120

      Sales and marketing

    211,491

    185,769



    640,117

    537,981

      General and administrative

    150,437

    99,750



    396,464

    274,406

      Amortization of acquired intangible assets

    4,062

    2,014



    12,152

    5,949

      Restructuring charges

    —

    21,879



    —

    54,439

          Total operating expenses

    874,862

    793,882



    2,576,275

    2,256,895

    Operating income

    360,211

    300,076



    1,044,909

    849,074

    Interest and other income (expense), net

    31,784

    25,484



    146,070

    52,631

    Income before income taxes

    391,995

    325,560



    1,190,979

    901,705

    Provision (benefit) for income taxes

    (30,712)

    (6,951)



    37,634

    29,779

    Net income from continuing operations

    422,707

    332,511



    1,153,345

    871,926

    Income (loss) from discontinued operations, net of income taxes

    (17,813)

    544



    (13,155)

    (296)

    Net income

    404,894

    333,055



    1,140,190

    871,630

    Less: Net income (loss) attributed to non-controlling interest and

    redeemable non-controlling interest

    (3,161)

    (3,197)



    (9,084)

    (9,068)

    Net income attributed to Synopsys

    $             408,055

    $             336,252



    $          1,149,274

    $             880,698













    Net income (loss) attributed to Synopsys











     Continuing operations

    $             425,868

    $             335,708



    $          1,162,429

    $             880,994

     Discontinued operations

    (17,813)

    544



    (13,155)

    (296)

     Net income

    $             408,055

    $             336,252



    $          1,149,274

    $             880,698













    Net income (loss) per share attributed to Synopsys - basic:











      Continuing operations

    $                   2.78

    $                   2.21



    $                   7.60

    $                   5.79

      Discontinued operations

    (0.12)

    —



    (0.08)

    —

      Basic net income per share

    $                   2.66

    $                   2.21



    $                   7.52

    $                   5.79













    Net income (loss) per share attributed to Synopsys - diluted:











      Continuing operations

    $                   2.73

    $                   2.17



    $                   7.46

    $                   5.68

      Discontinued operations

    (0.12)

    —



    (0.09)

    —

      Diluted net income per share

    $                   2.61

    $                   2.17



    $                   7.37

    $                   5.68













    Shares used in computing per share amounts:











      Basic

    153,417

    152,023



    152,885

    152,204

      Diluted

    156,131

    154,947



    155,863

    155,119













    (1) Synopsys' third quarter of fiscal year 2024 and 2023 ended on August 3, 2024 and July 29, 2023, respectively. For presentation purposes, we refer to the

    closest calendar month end. The first quarter of fiscal year 2024 included one extra week.

     

    SYNOPSYS, INC.



    Unaudited Condensed Consolidated Balance Sheets (1)



    (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 other comprehensive income (loss)

    (180,112)

    (196,414)



               Total Synopsys stockholders' equity

    7,709,396

    6,147,308



    Non-controlling interest

    4,976

    5,950



               Total stockholders' equity

    7,714,372

    6,153,258



               Total liabilities, redeemable non-controlling interest and stockholders' equity

    $         11,648,684

    $         10,333,131











    (1) Synopsys' third quarter of fiscal year 2024 ended on August 3, 2024 and its fiscal year 2023 ended on October 28, 2023,

    respectively. For presentation purposes, we refer to the closest calendar month end. The first quarter of fiscal year 2024

    included one extra week.







     

    SYNOPSYS, INC.

    Unaudited Condensed Consolidated Statements of Cash Flows (1)

    (in thousands)









    Nine Months Ended July 31,



    2024

    2023

    CASH FLOWS FROM OPERATING ACTIVITIES:





    Net income

    $          1,140,190

    $            871,630

    Adjustments to reconcile net income to net cash provided by operating activities:





    Amortization and depreciation

    180,149

    180,033

    Reduction of operating lease right-of-use assets

    72,196

    72,647

    Amortization of capitalized costs to obtain revenue contracts

    57,071

    61,677

    Stock-based compensation

    540,026

    421,949

    Allowance for credit losses

    14,696

    11,937

    Gain on sale of strategic investments

    (55,077)

    —

    Amortization of bridge financing costs

    18,435

    —

    Deferred income taxes

    (276,840)

    (166,061)

    Other non-cash

    (3,730)

    8,649

    Net changes in operating assets and liabilities, net of acquired assets and assumed liabilities:





    Accounts receivable

    59,159

    112,511

    Inventories

    (71,303)

    (77,919)

    Prepaid and other current assets

    (350,652)

    8,373

    Other long-term assets

    (137,159)

    (116,487)

    Accounts payable and accrued liabilities

    17,532

    48,574

    Operating lease liabilities

    (72,254)

    (52,914)

    Income taxes

    (241,952)

    123,924

    Deferred revenue

    (46,276)

    (131,310)

    Net cash provided by operating activities

    844,211

    1,377,213







    CASH FLOWS FROM INVESTING ACTIVITIES:





    Proceeds from maturities and sales of short-term investments

    98,465

    104,139

    Purchases of short-term investments

    (97,181)

    (102,457)

    Proceeds from sales of strategic investments

    55,696

    7,248

    Purchases of strategic investments

    (1,240)

    (435)

    Purchases of property and equipment

    (118,772)

    (136,520)

    Acquisitions, net of cash acquired

    (156,947)

    (51,324)

    Capitalization of software development costs

    —

    (2,204)

    Net cash used in investing activities

    (219,979)

    (181,553)







    CASH FLOWS FROM FINANCING ACTIVITIES:





    Repayment of debt

    (2,607)

    (2,603)

    Payment of bridge financing and term loan costs

    (72,265)

    —

    Issuances of common stock

    143,148

    164,841

    Payments for taxes related to net share settlement of equity awards

    (278,571)

    (198,969)

    Purchase of equity forward contract

    —

    (45,000)

    Purchases of treasury stock

    —

    (860,724)

    Other

    (1,096)

    (122)

    Net cash used in financing activities

    (211,391)

    (942,577)

    Effect of exchange rate changes on cash, cash equivalents and restricted cash

    5,458

    14,997

    Net change in cash, cash equivalents and restricted cash

    418,299

    268,080

    Cash, cash equivalents and restricted cash, beginning of year, including cash from discontinued operations

    1,441,187

    1,419,864

    Cash, cash equivalents and restricted cash, end of period, including cash from discontinued operations

    1,859,486

    1,687,944

    Less: Cash, cash equivalents and restricted cash from discontinued operations

    17,441

    4,835

    Cash, cash equivalents and restricted cash from continuing operations

    $          1,842,045

    $          1,683,109













    (1) Synopsys' third quarter of fiscal year 2024 and 2023 ended on August 3, 2024 and July 29, 2023, respectively. For

    presentation purposes, we refer to the closest calendar month end. The first quarter of fiscal year 2024 included one

    extra week.

    Synopsys provides segment information, namely revenue, adjusted segment operating income and adjusted segment operating margin, in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 280, Segment Reporting. Synopsys' chief operating decision maker ("CODM") is our Chief Executive Officer. In evaluating our business segments, the CODM considers the income and expenses that the CODM believes are directly related to those segments. The CODM does not allocate certain operating expenses managed at a consolidated level to our business segments and, as a result, the reported operating income and operating margin do not include these unallocated expenses as shown in the table below. These unallocated expenses are presented in the table below to provide a reconciliation of the total adjusted operating income from segments to our consolidated operating income from continuing operations:

    SYNOPSYS, INC.

    Business Segment Reporting (1)(2)(5)

    (in millions)













    Three Months Ended

    July 31, 2024

    Three Months Ended

    July 31, 2023

    Nine Months Ended

    July 31, 2024

    Nine Months Ended

    July 31, 2023



    Revenue by segment









    - Design Automation

    $                        1,062.6

    $                        1,004.2

    $                        3,103.0

    $                        2,821.5

    % of Total

    69.6 %

    74.1 %

    69.1 %

    73.3 %

    - Design IP

    $                           463.1

    $                           350.2

    $                        1,388.5

    $                        1,029.1

    % of Total

    30.4 %

    25.9 %

    30.9 %

    26.7 %











    Adjusted operating income by segment









    - Design Automation

    $                           440.9

    $                           410.0

    $                        1,218.6

    $                        1,102.8

    - Design IP

    $                           169.7

    $                             82.8

    $                           540.2

    $                           277.7











    Adjusted operating margin by segment









    - Design Automation

    41.5 %

    40.8 %

    39.3 %

    39.1 %

    - Design IP

    36.7 %

    23.6 %

    38.9 %

    27.0 %

     

    Total Adjusted Segment Operating Income Reconciliation (1)(2)(5)

    (in millions)













    Three Months Ended

    July 31, 2024

    Three Months Ended

    July 31, 2023

    Nine Months Ended

    July 31, 2024

    Nine Months Ended

    July 31, 2023



    GAAP total operating income – as reported

    $                           360.2

    $                           300.1

    $                        1,044.9

    $                           849.1

    Other expenses managed at consolidated level









    -Amortization of acquired intangible assets (3)

    18.6

    13.0

    53.3

    38.6

    -Stock-based compensation (3)

    164.4

    131.5

    492.6

    384.5

    -Non-qualified deferred compensation plan

    25.8

    21.5

    76.3

    44.1

    -Acquisition/divestiture related items (4)

    41.7

    4.8

    91.8

    9.8

    -Restructuring charges

    —

    21.9

    —

    54.4

    Total adjusted segment operating income

    $                           610.6

    $                           492.8

    $                        1,758.8

    $                        1,380.5











    (1) Synopsys manages the business on a long-term, annual basis, and considers quarterly fluctuations of revenue and profitability as normal elements of

    our business. Amounts may not foot due to rounding.

    (2) Synopsys' third quarter of fiscal year 2024 and 2023 ended on August 3, 2024 and July 29, 2023, respectively. For presentation purposes, we refer to

    the closest calendar month end. The first quarter of fiscal year 2024 included one extra week.

    (3) The adjustment includes non-GAAP expenses attributable to non-controlling interest and redeemable non-controlling interest.

    (4) The adjustment excludes the amortization of bridge financing costs entered into in connection with the pending acquisition of Ansys, that was

    recorded in interest and other income (expense), net in our unaudited condensed consolidated statements of income.

    (5) Presented on a continuing operations basis.

    GAAP to Non-GAAP Reconciliation

    Synopsys continues to provide all information required in accordance with GAAP but acknowledges evaluating its ongoing operating results may not be as useful if an investor is limited to reviewing only GAAP financial measures. Accordingly, Synopsys presents non-GAAP financial measures in reporting its financial results to provide investors with an additional tool to evaluate Synopsys' operating results in a manner that focuses on what Synopsys believes to be its core business operations and what Synopsys uses to evaluate its business operations and for internal budgeting and resource allocation purposes. This press release includes non-GAAP earnings per diluted share, non-GAAP net income and non-GAAP tax rate for the periods presented. It also includes future estimated ranges for non-GAAP expenses, non-GAAP interest and other income (expense), non-GAAP tax rate, non-GAAP earnings per diluted share and free cash flow. These non-GAAP financial measures may be different from non-GAAP financial measures used by other companies.

    When possible, Synopsys provides a reconciliation of non-GAAP financial measures to their most closely applicable GAAP financial measures. Synopsys is unable to provide a full reconciliation of certain fourth quarter and full fiscal year 2024 non-GAAP financial targets to the corresponding GAAP financial measures on a forward-looking basis because Synopsys believes that it would not be possible for it to have the required information necessary to quantitatively reconcile such measures with sufficient precision without unreasonable efforts due to, among other things, the potential variability and limited predictability of the excluded adjustment items necessary for a full reconciliation such as certain acquisition/divestiture related items, restructuring charges, tax deduction variability, changes in the fair value of non-qualified deferred compensation plan, and gains (losses) on the sale of strategic investments. For the same reasons, Synopsys is unable to address the probable significance of the unavailable information. 

    Synopsys' management does not itself, nor does it suggest that investors should, consider such non-GAAP financial measures in isolation from, as superior to, or as a substitute for, financial information prepared in accordance with GAAP. These non-GAAP financial measures are meant to supplement, and be viewed in conjunction with, the corresponding GAAP financial measures. Synopsys' management believes presentation of non-GAAP financial measures, when shown in conjunction with the corresponding GAAP financial measures, provides useful information to investors allowing them to view financial and business trends relating to our financial condition and results of operations through the eyes of management. Synopsys' management evaluates and makes decisions about our business operations using both GAAP financial measures and non-GAAP financial measures to help facilitate internal comparisons to Synopsys' historical operating results and forecasted targets, planning and forecasting in subsequent periods and comparisons to competitors' operating results.

    The following are descriptions of the adjustments made to reconcile non-GAAP financial measures (other than free cash flow, which is defined in the footnote to the Financial Targets table above) to the most directly comparable GAAP financial measures:

    (i) Amortization of acquired intangible assets. We incur expenses from amortization of acquired intangible assets, which include, among other things, core/developed technology, customer relationships, contract rights, trademarks and trade names, and other intangibles related to acquisitions. We amortize the intangible assets over their estimated useful lives. We do not enter into acquisitions on a predictable cycle. The amount of an acquisition's purchase price allocated to intangible assets and their estimated useful lives can vary significantly and are unique to each acquisition. We believe that the presentation of non-GAAP financial measures that adjust for the amortization of intangible assets provides investors and others with a consistent basis for comparison across accounting periods. We also exclude this item because such expenses are non-cash in nature and we believe the non-GAAP financial measures excluding this item provide meaningful supplemental information regarding our core operational performance and liquidity, and ability to invest in research and development and fund future acquisitions and capital expenditures.

    (ii) Stock-based compensation. Stock-based compensation expenses consist primarily of expenses related to restricted stock units, stock options, employee stock purchase rights and other stock awards, including such expenses associated with acquisitions. We exclude stock-based compensation expense from our non-GAAP financial measures primarily because it is not an expense that typically requires or will require cash settlement by us. Further, the expense for the fair value of the stock-based instruments we utilize may bear little resemblance to the actual value realized upon the vesting or future exercise of the related stock-based awards and, therefore, is not used by management to assess the core profitability of our business operations.

    (iii) Acquisition/divestiture related items. In connection with certain of our business combinations and/or divestitures, we incur significant expenses that we would not have otherwise incurred as part of our business operations. These expenses include, among other things, compensation expenses, professional fees and other direct expenses, concurrent restructuring activities and divestiture activities, including employee severance and other exit costs, bridge financing costs, costs related to integration activities, changes to the fair value of contingent consideration related to the acquired company, and amortization of the fair value difference of below-market value assets arising from arrangements entered into or acquired in conjunction with an acquisition. We also recognize the gains and losses from the mark-up of equity or cost method investments to fair value upon obtaining control through acquisition. We exclude these items because they are related to acquisitions and have no direct correlation to the core operation of our business. Further, because we do not acquire businesses on a predictable cycle and the terms of each transaction can vary significantly and are unique to each transaction, we believe it is useful to exclude such expenses when looking for a consistent basis for comparison across accounting periods.

    (iv) Restructuring charges. We initiate restructuring activities to align our costs to our operating plans and business strategies based on then-current economic conditions, and such activities have a specific and defined term. Restructuring costs generally include severance and other termination benefits related to voluntary retirement programs, involuntary headcount reductions and facilities closures. Such restructuring costs include elimination of operational redundancy, permanent reductions in workforce and facilities closures and, therefore, are not considered by us to be a part of the core operation of our business and are not used by management when assessing the core profitability and performance of our business operations.

    (v) Gains (losses) on the sale of strategic investments. We exclude gains and losses on the sale of equity investments in privately held companies because we do not believe they are reflective of our core business and operating results.

    (vi) Deferred compensation. We exclude changes in the fair value of our non-qualified deferred compensation plan because we do not use these to assess the core profitability of our business operations.

    (vii) Income tax effect of non-GAAP pre-tax adjustments. Excluding the income tax effect of non-GAAP pre-tax adjustments from the provision for income taxes assists investors in understanding the tax provision associated with those adjustments and the effect on net income. We utilize an annual non-GAAP tax rate in calculating non-GAAP financial measures to provide better consistency across interim reporting periods by eliminating the effects of certain non-recurring and other period-specific items, which can vary in size and frequency and do not necessarily reflect our normal operations, and to more closely align our tax rate with our expected geographic earnings mix. This annual non-GAAP tax rate is based on an evaluation of our historical and projected mix of U.S. and international profit before tax, taking into account the impact of non-GAAP adjustments, U.S. tax law changes, as well as other factors such as our current tax structure, existing tax positions and expected recurring tax incentives. Based on these considerations, we have elected to adopt a non-GAAP tax rate of 15% for fiscal year 2024.

    INVESTOR CONTACT:

    Trey Campbell

    Synopsys, Inc.

    650-584-4289

    [email protected] 

    EDITORIAL CONTACT:

    Cara Walker

    Synopsys, Inc.

    650-584-5000

    [email protected]

    Synopsys (PRNewsfoto/Synopsys)

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/synopsys-posts-financial-results-for-third-quarter-fiscal-year-2024-302227772.html

    SOURCE Synopsys, Inc.

    Get the next $SNPS alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $SNPS

    DatePrice TargetRatingAnalyst
    1/13/2025$600.00Buy
    Redburn Atlantic
    11/22/2024$570.00Equal Weight
    Wells Fargo
    11/12/2024$675.00Buy
    Loop Capital
    10/22/2024$650.00Outperform
    Mizuho
    10/15/2024$660.00Buy
    Berenberg
    4/4/2024$665.00Overweight
    Piper Sandler
    11/30/2023$500.00 → $660.00Buy
    Needham
    11/10/2023$600.00Overweight
    Morgan Stanley
    More analyst ratings

    $SNPS
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Synopsys Announces Earnings Release Date For Second Quarter Fiscal Year 2025

      SUNNYVALE, Calif., May 7, 2025  /PRNewswire/ -- Synopsys, Inc. (NASDAQ:SNPS) today announced it will report results for the second quarter fiscal year 2025 on Wednesday, May 28, 2025, after market close. The company will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to review its financial results and business outlook. Financial and other statistical information to be discussed on this conference call will be available on the corporate website at www.investor.synopsys.com immediately before the call. A live webcast will also be available on this sit

      5/7/25 4:05:00 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • Synopsys and Intel Foundry Propel Angstrom-Scale Chip Designs on Intel 18A and Intel 18A-P Technologies

      Synopsys Production-Ready EDA Flows and Broadest IP Portfolio Deliver Leading PPA for Intel Foundry's Advanced Processes and Packaging Technologies Highlights Production-ready Synopsys digital and analog EDA flows for Intel 18A and Intel 18A-P technologies pave the way for broad adoption and accelerate development of high-performance designs; engaged in early design technology co-optimization for Intel 14A-EOptimized EDA reference flow with a unified exploration-to-signoff platform accelerates 2.5D/3D multi-die designs for Intel's EMIB-T advanced packaging technologyBroadest portfolio of high-performance and low-power IP for Intel 18A and expanded Synopsys IP support for Intel 18A-P offers

      4/29/25 12:00:00 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • Synopsys and TSMC Usher In Angstrom-Scale Designs with Certified EDA Flows on Advanced TSMC A16 and N2P Processes

      AI-Driven Digital and Analog Flows, Multi-Die Innovations, and Broad IP Portfolio Deliver Unmatched Performance, Power and Area Advantages Highlights Digital and analog design flows on TSMC A16™ and N2P deliver optimized performance and rapid analog design migration, enabled by Synopsys.aiEarly collaboration on TSMC A14 process underway for Synopsys EDA flows developmentCollaboration on 3Dblox and TSMC's CoWoS® technologies for 5.5x reticle size packages, speeds integration of 3D stacked dies in next-generation AI chipsBroad portfolio of Synopsys Foundation and Interface IP provides the lowest power on TSMC's N2/N2P processesIndustry's most complete IP solutions for leading-edge standards, i

      4/23/25 4:00:00 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology

    $SNPS
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Redburn Atlantic initiated coverage on Synopsys with a new price target

      Redburn Atlantic initiated coverage of Synopsys with a rating of Buy and set a new price target of $600.00

      1/13/25 8:42:39 AM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • Wells Fargo initiated coverage on Synopsys with a new price target

      Wells Fargo initiated coverage of Synopsys with a rating of Equal Weight and set a new price target of $570.00

      11/22/24 8:02:35 AM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • Loop Capital initiated coverage on Synopsys with a new price target

      Loop Capital initiated coverage of Synopsys with a rating of Buy and set a new price target of $675.00

      11/12/24 7:51:10 AM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology

    $SNPS
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed by Synopsys Inc. (Amendment)

      SC 13G/A - SYNOPSYS INC (0000883241) (Subject)

      2/14/23 12:37:55 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • SEC Form SC 13G/A filed by Synopsys Inc. (Amendment)

      SC 13G/A - SYNOPSYS INC (0000883241) (Subject)

      2/9/23 11:32:50 AM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • SEC Form SC 13G/A filed by Synopsys Inc. (Amendment)

      SC 13G/A - SYNOPSYS INC (0000883241) (Subject)

      2/14/22 2:34:19 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology

    $SNPS
    SEC Filings

    See more
    • Synopsys Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Other Events, Financial Statements and Exhibits

      8-K - SYNOPSYS INC (0000883241) (Filer)

      3/17/25 4:30:50 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • Synopsys Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits

      8-K - SYNOPSYS INC (0000883241) (Filer)

      3/5/25 5:18:49 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • SEC Form 424B5 filed by Synopsys Inc.

      424B5 - SYNOPSYS INC (0000883241) (Filer)

      3/5/25 5:17:50 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology

    $SNPS
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Schwarz John was granted 491 shares, increasing direct ownership by 4% to 12,787 units (SEC Form 4)

      4 - SYNOPSYS INC (0000883241) (Issuer)

      4/14/25 4:22:48 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • Director Sargent Jeannine P was granted 491 shares, increasing direct ownership by 24% to 2,544 units (SEC Form 4)

      4 - SYNOPSYS INC (0000883241) (Issuer)

      4/14/25 4:22:16 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • Director Painter Robert G was granted 491 shares, increasing direct ownership by 34% to 1,941 units (SEC Form 4)

      4 - SYNOPSYS INC (0000883241) (Issuer)

      4/14/25 4:21:38 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology

    $SNPS
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Casper Marc N bought $439,087 worth of shares (750 units at $585.45), increasing direct ownership by 76% to 1,736 units (SEC Form 4)

      4 - SYNOPSYS INC (0000883241) (Issuer)

      3/27/24 11:12:13 AM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology

    $SNPS
    Leadership Updates

    Live Leadership Updates

    See more
    • Clearlake and Francisco Partners Complete Acquisition of Black Duck Software, Formerly Known as Synopsys Software Integrity Group

      The standalone application security company continues its mission to help organizations build trust in their software to support innovation and business transformation SANTA MONICA, Calif. and SAN FRANCISCO, Oct. 1, 2024 /PRNewswire/ -- Clearlake Capital Group ("Clearlake") and Francisco Partners announced today that they have completed their acquisition of the Synopsys Software Integrity Group, establishing the newly independent application security company as Black Duck Software, Inc. ("Black Duck"). The transaction with Synopsys, Inc. (NASDAQ:SNPS), which was first announced on May 6, 2024, is valued at up to $2.1 billion, including up to $475 million in cash payable upon Clearlake and Fr

      10/1/24 9:06:00 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • Clearlake and Francisco Partners Complete Acquisition of Black Duck Software, Formerly Known as Synopsys Software Integrity Group

      The standalone application security company continues its mission to help organizations build trust in their software to support innovation and business transformation Clearlake Capital Group ("Clearlake") and Francisco Partners announced today that they have completed their acquisition of the Synopsys Software Integrity Group, establishing the newly independent application security company as Black Duck Software, Inc. ("Black Duck"). The transaction with Synopsys, Inc. (NASDAQ:SNPS), which was first announced on May 6, 2024, is valued at up to $2.1 billion, including up to $475 million in cash payable upon Clearlake and Francisco Partners achieving a specified rate of return in connection

      10/1/24 8:30:00 AM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • SiMa.ai Secures Funds and Readies New Generative Edge AI Platform

      Oversubscribed $70M round led by Maverick Capital increases SiMa.ai's total amount raised to $270M; funding will speed release of next generation AI/ML chip to power multimodal generative AI at the edge SiMa.ai, the software-centric, embedded edge machine learning system-on-chip company, today announced it has raised an additional $70M of funding led by Maverick Capital, with participation from Point72 and Jericho, as well as existing investors Amplify Partners, Dell Technologies Capital, Lip-Bu Tan and others. SiMa.ai will utilize the $270M raised to date to continue meeting customer demand for edge AI/ML with its first-generation Machine Learning System-on-Chip (MLSoC) while acceleratin

      4/4/24 9:00:00 AM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology

    $SNPS
    Financials

    Live finance-specific insights

    See more
    • Synopsys Announces Earnings Release Date For Second Quarter Fiscal Year 2025

      SUNNYVALE, Calif., May 7, 2025  /PRNewswire/ -- Synopsys, Inc. (NASDAQ:SNPS) today announced it will report results for the second quarter fiscal year 2025 on Wednesday, May 28, 2025, after market close. The company will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to review its financial results and business outlook. Financial and other statistical information to be discussed on this conference call will be available on the corporate website at www.investor.synopsys.com immediately before the call. A live webcast will also be available on this sit

      5/7/25 4:05:00 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • Synopsys Posts Financial Results for First Quarter Fiscal Year 2025

      Results Summary Quarterly revenue of $1.455 billion, exceeding midpoint of guidance.Quarterly GAAP earnings per diluted share of $1.89; non-GAAP earnings per diluted share of $3.03, exceeding guidance.Reaffirming full-year 2025 guidance.SUNNYVALE, Calif., Feb. 26, 2025 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today reported results for its first quarter of fiscal year 2025. Revenue for the first quarter of fiscal year 2025 was $1.455 billion, compared to $1.511 billion for the first quarter of fiscal year 2024. "In Q1, Synopsys' relentless focus on execution and innovatio

      2/26/25 4:05:00 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology
    • Synopsys Announces Earnings Release Date For First Quarter Fiscal Year 2025

      SUNNYVALE, Calif., Jan. 27, 2025 /PRNewswire/ -- Synopsys, Inc. (NASDAQ:SNPS) today announced it will report results for the first quarter fiscal year 2025 on Wednesday, February 26, 2025, after the market close. The company will host a conference call at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to review its financial results and business outlook. Financial and other statistical information to be discussed on this conference call will be available on the corporate website at www.investor.synopsys.com immediately before the call. A live webcast will also be available on

      1/27/25 4:05:00 PM ET
      $SNPS
      Computer Software: Prepackaged Software
      Technology