SAN JOSE, CA – Cadence reported first-quarter revenue of $1.4 billion, up from $1.2 billion year over year, driven by strong demand for AI-driven design tools and semiconductor solutions. 

Cadence also reported a record backlog of $8 billion, signaling sustained demand across its customer base.

“Cadence had a strong start to 2026, delivering a solid Q1 with accelerating AI demand and record backlog,” said CEO Anirudh Devgan. He highlighted the company’s continued push into agentic AI, including the launch of its AgentStack platform and expanded AI-driven design solutions spanning chip and system development.

During the quarter, Cadence introduced multiple AI-powered tools, including new Super Agents for analog, digital, and verification workflows, strengthening its position across the semiconductor design ecosystem. 

Looking ahead, Cadence raised its full-year outlook and now expects revenue between $6.1 billion and $6.2 billion, representing approximately 17% year-over-year growth. 

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