Synopsys, Inc. (SNPS) Q4 2022 Earnings Call Transcript

Synopsys, Inc. (NASDAQ:SNPS) Q4 2022 Earnings Conference Call November 30, 2022 5:00 PM ET

Company Participants

Lisa Ewbank - Vice President, Investor Relations

Aart de Geus - Chairman & Chief Executive Officer

Trac Pham - Chief Financial Officer

Conference Call Participants

Joe Vruwink - Baird

Gal Munda - Wolfe Research

Jason Celino - KeyBanc

Harlan Sur - JPMorgan

Charles Shi - Needham & Company

Jay Vleeschhouwer - Griffin Securities

Ruben Roy - Stifel Nicolaus

Operator

Ladies and gentlemen, welcome to the Synopsys Earnings Conference Call for the Fourth Quarter of Fiscal year 2022. At this time, all participants are in a listen-only mode. [Operator Instructions] Today’s call will last one hour. And as a reminder, today’s call is being recorded

At this time, I would like to turn the conference over to Lisa Ewbank, Vice President of Investor Relations. Please go ahead.

Lisa Ewbank

Thank you, Lisa. Good afternoon, everyone. Hosting the call today are Aart de Geus, Chairman and CEO of Synopsys; and Trac Pham, Chief Financial Officer.

Before we begin, I’d like to remind everyone that during the course of this conference call, Synopsys will discuss forecasts, targets and other forward-looking statements regarding the company and its financial results. While these statements represent our best current judgment about future results and performance as of today, our actual results are subject to many risks and uncertainties that could cause actual results to differ materially from what we expect.

In addition to any risks that we highlight during the call, important factors that may affect our future results are described in our most recent SEC reports and today’s earnings press release. In addition, we will refer to non-GAAP financial measures during the discussion. Reconciliations to their most directly comparable GAAP financial measures and supplemental financial information can be found in the earnings press release, financial supplement and 8-K that we released earlier today.

All of these items, plus the most recent investor presentation, are available on our website at synopsys.com. In addition, the prepared remarks will be posted on our website at the conclusion of the call.

With that, I’ll turn it over to Aart de Geus.

Aart de Geus

Good afternoon. I am happy to report that Synopsys completed an outstanding year with sustained forward momentum. Since about four years ago, we communicated our dual objectives of accelerating growth and expanding margin. Synopsys has delivered on and, in fact, exceeded those expectations. This is visible through over 60% revenue growth since that point, 11 percentage points higher non-GAAP operating margin and more than doubled EPS.