Cadence raises 2026 outlook after Q2 revenue and earnings growth

Cadence reported second-quarter 2026 revenue of $1.584 billion for the period ended June 30, up from $1.275 billion a year earlier, while diluted GAAP EPS rose to $1.33 and non-GAAP EPS to $2.11. The company raised its 2026 revenue outlook to $6.26 billion-$6.34 billion, non-GAAP EPS outlook to $8.05-$8.15, and operating cash flow outlook to approximately $2 billion, supported by record $8.1 billion backlog; Cadence also expects to repurchase about $200 million of shares in the third quarter.