Synopsys, Inc. (NASDAQ:SNPS) Q3 2024 Earnings Call Transcript August 21, 2024 5:00 PM ET
Company Participants
Trey Campbell - SVP, IR
Sassine Ghazi - President and CEO
Shelagh Glaser - CFO
Conference Call Participants
Harlan Sur - JPMorgan
Vivek Arya - Bank of America
Joe Vruwink - Baird
Jason Celino - KeyBanc
Lee Simpson - Morgan Stanley
Ruben Roy - Stifel
Charles Shi - Needham & Company
Joshua Tilton - Wolfe Research
Jay Vleeschhouwer - Griffin Securities
Operator
Ladies and gentlemen, welcome to the Synopsys Earnings Conference Call for the Third Quarter Fiscal Year 2024. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, today's call is being recorded. At this time, I would like to turn the conference over to Trey Campbell, Senior Vice President, Investor Relations. Please go ahead.
Trey Campbell
Thank you and good afternoon, everyone. With us today are Sassine Ghazi, President and CEO of Synopsys; and Shelagh Glaser, CFO.
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 this 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 certain non-GAAP financial measures during the discussion. Reconciliation 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 were released earlier today. All of these items plus the most recent investor presentation are available on our website at www.synopsys.com. In addition, the prepared remarks will be posted on our website at the conclusion of the call.
With that, let's turn the call over to Sassine.
Sassine Ghazi
Good afternoon. We delivered excellent results in the third quarter, exceeding the midpoint of all our guidance targets while setting another quarterly revenue record. We position the company's portfolio with one strategic end in mind, maximizing the value that we deliver to customers in the era of pervasive intelligence. Our focus is on leading innovation in EDA and IP while deepening our differentiation in software-defined systems. Against this strategic backdrop, the Synopsys team continued its strong operational execution in the quarter and commercial momentum remains robust.