RECEIVABLES, NET

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

RECEIVABLES, NET

RECEIVABLES, NET

Cadence’s current and long-term receivables balances as of June 30, 2024 and December 31, 2023 were as follows:

	As of
	June 30, 2024		December 31, 2023
	(In thousands)
Accounts receivable	$	386,713	$	299,814
Unbilled accounts receivable	182,823		193,963
Long-term receivables	11,718		10,755
Total receivables	581,254		504,532
Less allowance for doubtful accounts	(4,685)		(4,553)
Total receivables, net	$	576,569	$	499,979

Cadence’s customers are primarily concentrated within the semiconductor and electronics systems industries. As of June 30, 2024, one customer accounted for approximately 11% of Cadence’s total receivables. As of December 31, 2023, no single customer accounted for 10% or more of Cadence’s total receivables.