Cadence Design Systems (CDNS) Secures Licensing Deal with Aeva

AI Summary

Cadence Design Systems Inc (CDNS) has partnered with Aeva, which has licensed Cadence's Tensilica Vision DSP technology for its 4D LiDAR systems aimed at industrial robotics and automotive sectors. In Q1 2026, CDNS reported a 17% year-over-year revenue increase to $1.47 billion, surpassing analysts' expectations of $1.45 billion. Adjusted EPS rose to $1.96 from $1.57 in the previous year, exceeding the consensus estimate of $1.88. The company ended the quarter with a record backlog of $8 billion, indicating strong future demand.