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Oct 31, 2023
Synopsys Q4 2023 Earnings Report
Synopsys' Q4 2023 financial results were released, demonstrating record quarterly revenue and exceeding earnings guidance.
Key Takeaways
Synopsys reported record quarterly revenue of $1.599 billion, a 25% increase year-over-year. The company's GAAP earnings per diluted share were $2.26, and non-GAAP earnings per diluted share reached $3.17, surpassing the high end of guidance. For fiscal year 2023, revenue was $5.843 billion, with GAAP EPS of $7.92 and non-GAAP EPS of $11.19, also exceeding guidance.
Synopsys achieved record quarterly revenue of $1.599 billion, up 25% year-over-year.
GAAP earnings per diluted share for the quarter were $2.26, while non-GAAP EPS was $3.17, exceeding guidance.
The company's fiscal year revenue reached $5.843 billion, a 15% increase from the previous year.
GAAP EPS for fiscal year 2023 was $7.92, and non-GAAP EPS was $11.19, both exceeding guidance.
Synopsys
Synopsys
Synopsys Revenue by Segment
Revenue by Segment
Design Automation Revenue
CapyFin.comDesign IP Revenue
CapyFin.com Forward Guidance
Synopsys provided its consolidated financial targets for the first quarter and full fiscal year 2024. The fiscal year targets include the impact of an extra week in fiscal year 2024, which will be included in the first quarter of fiscal year 2024.
Positive Outlook
- Revenue between $1.630 billion and $1.660 billion for the first quarter of fiscal year 2024.
- Revenue between $6.570 billion and $6.630 billion for the full fiscal year 2024.
- GAAP EPS between $2.40 and $2.50 for the first quarter of fiscal year 2024.
- GAAP EPS between $9.07 and $9.25 for the full fiscal year 2024.
- Non-GAAP EPS between $3.40 and $3.45 for the first quarter of fiscal year 2024.
Challenges Ahead
- GAAP expenses between $1.217 billion and $1.237 billion for the first quarter of fiscal year 2024.
- GAAP expenses between $4.995 billion and $5.052 billion for the full fiscal year 2024.
- Non-GAAP expenses between $1.017 billion and $1.027 billion for the first quarter of fiscal year 2024.
- Non-GAAP expenses between $4.140 billion and $4.180 billion for the full fiscal year 2024.
- Assumes no further changes to export control restrictions or the current U.S. government “Entity List” restrictions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income