The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Gal Munda - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: So the first one is you've kind of touched a little bit on this trend that you've seen on the digital side. Specifically, you mentioned 30 new customers.
You mentioned some competitive displacements. I guess I want to kind of -- if you zoom out a little bit and think about what's really driving the
growth between there between the competitive displacements and just a very, very healthy design activity in terms of the market, could you help
us understand that?
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JULY 26, 2021 / 9:00PM, CDNS.OQ - Q2 2021 Cadence Design Systems Inc Earnings Call
Question: Gal Munda - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Got you. That's very helpful. And then maybe as a follow-up, Anirudh maybe for you or even John maybe. When I think about kind of the way Q2
came in extremely strong, it enables you to kind of go above and beyond the beat in order to kind of raise the guidance for the year. What gives
you that confidence? Is it the fact that you weren't able to derive Q1 because of the fact that there's still a lot of hardware tough comp from last
year and stuff, but now you're kind of another 3 months in and seeing more of it? Or what's behind kind of the same thing to be a little bit more
keen to reflect the outperformance in the quarter and beyond in the guidance?
Question: Jackson Edmund Ader - JPMorgan Chase & Co, Research Division - Analyst
: Can we just touch on the subpoena that was disclosed in the 10-Q. So just from reading the language, it sounds like you received this in February,
and so I'm just curious why was it something that was disclosed in this quarter and not in the previous Q. And does that -- what kind of risk or
whether it's operationally or any kind of penalties does this really imply?
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JULY 26, 2021 / 9:00PM, CDNS.OQ - Q2 2021 Cadence Design Systems Inc Earnings Call
Question: Jackson Edmund Ader - JPMorgan Chase & Co, Research Division - Analyst
: Okay. Fair enough. And then on the hardware side, a lot those -- was it 15 new orders and 65 repeat orders of -- I'm sorry, of hardware orders, how
many of those were Z1, X1 versus Z2, X2 if we have that breakdown?
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