| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q3'26 | August 26, 2026 | 4/12 | 1 high, 2 medium, 3 low flags | 0 | 0 | Call sheet → |
| Q2'26 | May 27, 2026 | 3/12 | 2 high, 2 medium, 2 low flags | 1 | 1 | Call sheet → |
| Q1'26 | February 25, 2026 | 10/12 | 4 medium, 2 low flags | 3 | 0 | Call sheet → |
| Q4'25 | December 10, 2025 | 9/12 | 5 medium, 3 low flags | 3 | 1 | Call sheet → |
| Q3'25 | September 9, 2025 | 6/12 | 2 high, 5 medium flags | 4 | 1 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | Ansys $2.9B revenue contribution growing double digits On track at $652M in Q2 but growth rate obscured by accounting changes |
| Q2'26 | Delivered | IP transitional year with muted growth Unfortunately delivering on the weakness as promised |
| Q2'26 | Pending | $400M cost synergies run rate by year 3 Claim halfway there by end of FY26 but won't specify dollar amount achieved |
| Q2'26 | Missed | Multiphysics joint solutions delivered first wave in first half of FY26 Now saying 'expanding trials' and commercial availability in H2, clear slip |
| Q2'26 | Pending | Few customers with signed agreements with new IP business model by end of fiscal year No update on actual signings, just 'active conversations' |
| Q2'26 | Pending | Sequential quarterly improvements throughout the second half for IP Q2 up 12% sequentially but still negative YoY; need Q3-Q4 to verify trend |
| Q1'26 | Delivered | Term loan repayment acceleration Fully repaid $4.3B ahead of schedule |
| Q1'26 | Delivered | Muted IP growth for FY '26 Flat sequential performance matches guidance |
| Q1'26 | Exceeded | $400M cost synergies by year 3 Now accelerating into years 1-2 of integration |
| Q1'26 | Pending | Mid-teens IP growth target Maintained confidence despite transitional year guidance |
| Q1'26 | Pending | Double-digit EDA growth long-term Reaffirmed but with more caveats about market segmentation |
| Q1'26 | Pending | Sequential improvement in IP business Maintained but now Q4-weighted, later than expected |
| Q1'26 | Pending | First wave of joint Synopsys-Ansys solutions in 2026 Reaffirmed delivery timeline but pushed monetization to FY '27 |
| Q4'25 | Missed | We will see our ability to pivot these [IP] resources... as we look at the roadmap Admitted FY26 will be 'muted growth' - pivot not delivering results yet |
| Q4'25 | Pending | We remain confident in achieving the committed synergies of the merger Reiterated but no specific progress metrics provided |
| Q4'25 | Delivered | We look forward to completing the follow-on divestitures of the Optical Solutions Group and PowerArtist business Completed in October, generated $600M proceeds |
| Q4'25 | Delivered | We are taking a conservative view on Q4 and updating our full-year 2025 targets Q4 came in at high end of updated guidance |
| Q4'25 | Delivered | Undertake related actions that will reduce our global headcount roughly 10% by the end of fiscal year 2026 Confirmed in Q4 call, actions already underway |
| Q4'25 | Pending | Expect to deliver our first fully integrated [ANSYS-Synopsys] solution in the first half of next year Now saying 'targeting '26 to deliver the first wave' - timeline got vaguer |
| Q3'25 | Pending | Operating margin target of 40% at midpoint Q3 at 38.5%, Q4 guidance implies ~36% - trending below target |
| Q3'25 | Missed | IP growth in 2025 IP went from +21% YoY in Q2 to -8% YoY in Q3 - major reversal |
| Q3'25 | Delivered | Strong second half hardware momentum Record Zebu and HAPS shipments in Q3 as projected |
| Q3'25 | Delivered | China declining year over year Continued decline as forecasted, now expecting weakness into FY26 |
| Q3'25 | Exceeded | Full-year revenue guidance of $6.745-6.805B Raised to $7.03-7.0B with ANSYS inclusion - organic business on track |
| Q3'25 | Delivered | ANSYS deal closure in first half of fiscal 2025 Closed July 17, 2025 - delivered on timeline despite regulatory complexity |
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