Cadence Design Systems reported record bookings and backlog as it concluded 2024, with the CEO stating that momentum continues to build. The CFO highlighted a strong finish to the year. However, the company's stock fell by 5.5% in after-hours trading, and a preliminary outlook for 2025 indicated expected revenue between $5.14 billion and $5.22 billion. The guidance also included a GAAP operating margin forecast of 30.3% to 31.3% and a non-GAAP operating margin forecast of 43.25% to 44.25%. The expected GAAP earnings per share (EPS) is projected to be between $4.19 and $4.29. Additionally, the stock saw a decline of 2.7% in pre-market trading due to concerns over the soft guidance for 2025.