Synopsys Posts Financial Results for First Quarter Fiscal Year 2022

Q1 FY 2022 Financial Highlights

MOUNTAIN VIEW, Calif., Feb. 16, 2022 — (PRNewswire) —   Synopsys, Inc. (Nasdaq: SNPS) today reported results for its first quarter fiscal year 2022. Revenue for the first quarter of fiscal year 2022 was $1.270 billion, compared to $970.3 million for the first quarter of fiscal year 2021.

"Synopsys began fiscal year 2022 with excellent momentum, supported by strength across all product groups and geographies. We delivered financial results at or above guidance targets, returned $250 million to shareholders through stock repurchases, and are raising our outlook for the year," said Aart de Geus, chairman and co-CEO of Synopsys. "Our markets are strong, as companies across vertical segments intensify their investments to benefit from increased complexity in critical chips, system design, and immense amounts of software. Synopsys is at the heart of this wave of advanced technology. Our unique, game-changing innovations are driving excellent technical benefits for our customers and outstanding business results."

GAAP Results

On a generally accepted accounting principles (GAAP) basis, net income for the first quarter of fiscal year 2022 was $313.7 million, or $1.99 per diluted share, compared to $162.3 million, or $1.03 per diluted share, for the first quarter of fiscal year 2021.

Non-GAAP Results

On a non-GAAP basis, net income for the first quarter of fiscal year 2022 was $376.9 million, or $2.40 per diluted share, compared to non-GAAP net income of $239.5 million, or $1.52 per diluted share, for the first quarter of fiscal year 2021.

For a reconciliation between GAAP and non-GAAP results, see "GAAP to Non-GAAP Reconciliation" in the accompanying tables below. 

Business Segments

Synopsys reports revenue and operating income in two segments: (1) Semiconductor & System Design, which includes EDA tools, IP products, system integration solutions and other associated revenue categories, and (2) Software Integrity, which includes a comprehensive solution for building integrity—security, quality and compliance testing—into the customers' software development lifecycle and supply chain. Further information regarding these segments is provided at the end of this press release.

Financial Targets

Synopsys also provided its consolidated financial targets for the second quarter and full fiscal year 2022. These financial targets assume that there are no further changes to 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. 

Second Quarter and Fiscal Year 2022 Financial Targets

(in millions except per share amounts)

 Range for Three Months

Range for Fiscal Year

April 30, 2022

October 31, 2022






$             1,240

$             1,270

$             4,775

$             4,825

GAAP Expenses

$                931

$                951

$             3,809

$             3,856

Non-GAAP Expenses

$                800

$                810

$             3,255

$             3,285

Other Income (Expense)

$                     -

$                    2

$                   (8)

$                   (4)

Annual non-GAAP Tax Rate





Outstanding Shares (fully diluted)






$               1.67

$               1.78

$               5.53

$               5.72


$               2.35

$               2.40

$               7.85

$               7.92

Operating Cash Flow

$             1,450

$             1,500

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