Management remarks
Call period: 2026 Q2 · 2026-07-27
Guidance: John Wall: At the midpoint, we now expect revenue growth of 19%, operating margin of 44.25%, EPS of $8.10, and operating cash flow of $2 billion for the year.Demand and orders: John Wall: Robust design activity and customer demand drove 24% year-over-year revenue growth for Q2, with double-digit growth across all our product groups.Margins: John Wall: Non-GAAP operating margin was 45.5%.Analyst Q&A
Analyst Joshua Tilton asked: Maybe just one clarification and one thematic question for Anirudh. On the clarification side, could you just maybe unpack for us what's driving the strength in other recurring revenue? Management John Wall answered: Josh, I'll take the recurring revenue question. Recurring revenue grew about 24% year-over-year in Q2, that was driven primarily by strong core EDA growth. Some Al-driven demand, there's share gains and healthy renewals, and expansions through add-on business. Within that, probably Hexagon contributed roughly four points. Even adjusting for that, recurring revenue is high teens to 20% on a normalized pro forma basis, which we view as a very strong result. We would continue to expect the full-year mix to be roughly 80% recurring and 20% upfront.管理层陈述
电话会期间：2026 Q2 · 2026-07-27
指引：约翰·沃尔：在中点预期下，我们预计今年营收增长率为19%，营业利润率为44.25%，每股收益为8.10美元，运营现金流为20亿美元。需求与订单：约翰·沃尔：强劲的设计活动和客户需求推动第二季度营收同比增长24%，所有产品集团均实现两位数增长。利润率：约翰·沃尔：非GAAP营业利润率为45.5%。分析师问答
分析师约书亚·蒂尔顿提问：能否请您解释一下推动其他经常性收入增长的因素？管理层约翰·沃尔回答：我来解答这个经常性收入问题。第二季度经常性收入同比增长约24%，主要得益于核心电子设计自动化业务的强劲增长、部分人工智能驱动的需求、市场份额提升、健康的续约以及通过附加业务实现的扩张。其中，Hexagon贡献了约4个百分点。即便剔除这部分影响，经标准化调整后的经常性收入增长率处于高位十几至20%区间，我们认为这是非常强劲的表现。我们预计全年收入结构仍将约80%为经常性收入，20%为一次性收入。This earnings research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报研究基于公司业绩公告、监管文件、财务报表，以及财报电话会议记录或官方回放整理。内容仅供参考，不构成投资建议。
