Partners PRs

Synopsys, Inc. (Nasdaq: SNPS) today reported results for its fourth quarter and fiscal year 2024. Revenue for the fourth quarter of fiscal year 2024 was $1.636 billion, compared to $1.467 billion for the fourth quarter of fiscal year 2023. Revenue for fiscal year 2024 was $6.127 billion, an increase of approximately 15% from $5.318 billion in fiscal year 2023.

“The fourth quarter was a strong finish to a transformational year for Synopsys. We achieved record financial results while doubling down on our strategy with the sale of our Software Integrity business and the pending acquisition of Ansys,” said Sassine Ghazi, president and CEO of Synopsys. “Looking ahead, the AI-driven reinvention of compute is accelerating the pace, scale and complexity of technology R&D, which expands our opportunity to solve engineering challenges from silicon to systems.”

“Continued strong execution drove excellent Q4 results, which exceeded the midpoint of our guidance targets and capped a year of 15% revenue growth for the company,” said Shelagh Glaser, CFO of Synopsys. “The combination of our execution focus, operating discipline, and the critical nature of our industry-leading technology positions us well for the future. In 2025, we expect to deliver double-digit revenue growth grounded in pragmatism given continued macro uncertainties and the impact of our fiscal year calendar change.”

Synopsys’ previously announced acquisition of Ansys is expected to close in the first half of 2025, subject to the receipt of required regulatory approvals and other customary closing conditions. This week marked the expiration of the Hart-Scott-Rodino (HSR) Act waiting period, and Synopsys is working cooperatively with Federal Trade Commission (FTC) staff to conclude the investigation and the staff’s review of Synopsys’ proposed remedies.