Cadence Design Systems Inc Q1 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jackson Edmund Ader - JPMorgan Chase & Co, Research Division - Analyst : I'd like to start on remaining performance or backlog and calculated bookings, went down a bunch in the quarter relative to a pretty tough compare. But I was just wondering if you guys had any additional commentary on the bookings performance in the quarter.

Question: Jackson Edmund Ader - JPMorgan Chase & Co, Research Division - Analyst : Okay, fair enough. And then on the geographic side, we saw remarkable growth from China in the second half of 2020. It looks like that geo kind of came back down to earth here in the first quarter. Any particular product segments, hardware, software, IP that would be impacted for that geography coming back down?

Question: Gal Munda - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : The first one is just, John, maybe a little bit expanding on what you just said. So when I look at your historical trends of revenue tends to be fairly and well, kind of equally split throughout the quarters. And Q2 tends to be sequentially slightly stronger than Q1. Is it because of this slight pull-forward of hardware that you expect in Q2 potentially at the mid-end of the guidance be materially lower this year?

Question: Gal Munda - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Got you. That's really helpful. And then maybe just a little bit of a longer-term strategic question around building the CFD platform capabilities, which kind of adds to your clarity side. And then thinking about potentially other physics that you might be adding over time. Is that a potential for that. Or do you guys think that fluid simulation is something that's kind of very applicable to the cooling and everything on the system? So because of that, you kind of want to bring that in-house and the other ones, maybe a partner? How are you thinking about it?