Represents Key Milestone Toward Completion of Transaction with Synopsys PITTSBURGH, May 22, 2024 /PRNewswire/ -- ANSYS, Inc. (NASDAQ: ANSS) announced that at the special meeting of stockholders (the "Special Meeting") held earlier today, its stockholders voted to approve the proposed acquisition of Ansys by Synopsys, Inc. (NASDAQ: SNPS). Under the terms of the merger agreement, Ansys stockholders will receive $197.00 in cash and 0.3450 shares of Synopsys common stock for each Ansys share they own, represent ...

Collaboration enables accelerated materials discovery to optimize product development/ Key Highlights Ansys and Schrödinger are collaborating to develop an integrated computational materials engineering (ICME) approach to product development that infuses virtual materials discovery into the early stages of design The predictive accuracy of Ansys multiphysics solutions combined with Schrödinger's materials solutions help engineers identify suitable materials for their designs before manufacturing begins PIT ...

Financial Performance - Total revenue for Q1 2024 was $466.6 million, a decrease of 8.4% compared to $509.4 million in Q1 2023[20] - Net income for Q1 2024 was $34.8 million, a decline of 65.5% from $100.6 million in Q1 2023[20] - Operating income fell to $43.3 million, down 66.0% from $127.7 million year-over-year[20] - Earnings per share (EPS) for Q1 2024 was $0.40, compared to $1.16 in Q1 2023, reflecting a decrease of 65.5%[20] - Comprehensive income for Q1 2024 was $12.8 million, significantly lower than $113.9 million in Q1 2023, primarily due to foreign currency translation adjustments[23] - GAAP operating income decreased by 66.1%, while non-GAAP operating income fell by 26.0% for the same period[108] - GAAP diluted earnings per share dropped by 65.2%, and non-GAAP diluted earnings per share decreased by 24.9% year-over-year[108] Revenue Breakdown - Software licenses revenue decreased to $160.3 million, down 26.8% from $219.2 million in the same period last year[20] - Subscription lease licenses revenue decreased to $94.8 million from $147.9 million, while perpetual licenses revenue decreased to $65.5 million from $71.2 million[42] - Maintenance revenue increased to $289.3 million from $268.6 million, and service revenue decreased to $16.9 million from $21.7 million[42] - The Americas region experienced a revenue decline of 18.8%, while Asia-Pacific saw a growth of 6.0% in the same period[122] - International revenue accounted for 57.1% of total revenue in Q1 2024, up from 51.6% in Q1 2023[138] Cash Flow and Investments - Cash and cash equivalents at the end of Q1 2024 increased to $1.05 billion, up from $507.7 million at the end of Q1 2023[26] - The company reported a net cash provided by operating activities of $282.8 million, an increase from $260.8 million in the prior year[26] - Cash, cash equivalents, and short-term investments increased by $210.2 million (24.4%) from $860.4 million on December 31, 2023, to $1,070.6 million on March 31, 2024[167] - Net cash used in investing activities decreased by $94.0 million (73.2%) from $(128.4) million for the three months ended March 31, 2023, to $(34.4) million for the same period in 2024[172] - Net cash used in financing activities decreased by $186.2 million (77.3%) from $(240.8) million for the three months ended March 31, 2023, to $(54.6) million for the same period in 2024[173] Expenses - Research and development expenses increased to $128.8 million, up from $120.3 million in Q1 2023, indicating a focus on innovation[20] - Selling, general and administrative expenses rose to $219.6 million, representing 47.1% of revenue, compared to 37.0% in Q1 2023[146] - Increased operating expenses in Q1 2024 were primarily due to higher personnel and acquisition costs related to the Merger Agreement with Synopsys[106] Debt and Financing - The carrying value of the term loan as of March 31, 2024, was $754.0 million, with no principal payments due in the next twelve months[175] - The weighted average interest rate for the three months ended March 31, 2024, was 6.32%, compared to 5.56% for the same period in 2023[82] - Outstanding term loan borrowings amounted to $755.0 million as of March 31, 2024[186] Strategic Developments - Ansys entered into a merger agreement with Synopsys, expected to close in the first half of 2025, pending regulatory approvals[34] - A strategic equity investment agreement was entered into on December 5, 2023, with a purchase price of $300 million expected to close in 2024[47] - The company’s strategy focuses on expanding the use of simulation across product lifecycles and increasing accessibility to a broader user base[98] Market Conditions - Future performance may be impacted by macroeconomic conditions, including inflation and geopolitical factors, which could affect business operations and strategic transactions[126] - The engineering simulation software market is experiencing growth driven by trends such as electrification, autonomy, and sustainability[100] Tax and Legal Matters - The effective tax rate for the three months ended March 31, 2024, was 15.1%, down from 16.7% for the same period in 2023[85] - The company is subject to potential tax charges of $7.2 million related to pending service tax audits in India, although a reserve has not been recorded as the charges are not deemed probable[94] - The company is subject to various legal proceedings, but the resolution of these matters is not expected to have a material adverse effect on its financial position[193] Workforce - The company employed 6,200 people as of March 31, 2024, maintaining the same workforce level as of December 31, 2023[97]

EXHIBIT 99.1 Contact: Investors: Kelsey DeBriyn 724.820.3927 kelsey.debriyn@ansys.com Media: Mary Kate Joyce 724.820.4368 marykate.joyce@ansys.com Ansys Announces Q1 Financial Results / Q1 2024 Results • Revenue of $466.6 million • GAAP diluted earnings per share of $0.40 and non-GAAP diluted earnings per share of $1.39 • GAAP operating profit margin of 9.3% and non-GAAP operating profit margin of 32.2% • Operating cash flows of $282.8 million and unlevered operating cash flows of $292.7 million • Annual Co ...

Ansys multiphysics platforms support TSMC's latest silicon technologies, enabling advanced semiconductor vendors to create faster, lower power designs/ Key Highlights Ansys RedHawk-SC™ and Ansys Totem™ power integrity platforms are certified for TSMC's latest N2 nanosheet-based process technology  Ansys RaptorX™ solution for on-chip electromagnetic modeling is certified for TSMC's N5 process PITTSBURGH, April 30, 2024 /PRNewswire/ -- Ansys (NASDAQ: ANSS) today announced the certification of its power integr ...

ANSYS Inc (ANSS) is scheduled to report first-quarter 2024 results on May 1.The performance is likely to have been driven by continued momentum for the company’s simulation solutions in various verticals like aerospace and defense (A&D), high-tech, automotive and ground transportation sectors.Rapid growth for its high-fidelity simulation solutions, led by ongoing development in artificial intelligence and machine learning, is expected to have acted as another tailwind.Ongoing momentum in the A&D sector, owi ...

Ansys (ANSS) recently announced a collaboration with Taiwan Semiconductor Manufacturing Company (“TSMC”) on the latter’s Compact Universal Photonic Engines (COUPE) platform. The collaboration aims to speed up chip-to-chip and machine-to-machine communication, thereby delivering a high-fidelity multiphysics solution of artificial intelligence (AI), datacenter, cloud, and high-performance computing (HPC) chips.COUPE is a sophisticated Silicon Photonics (SiPh) integration system and Co-Packaged Optics platform ...

Collaboration on TSMC's COUPE silicon photonics platform dramatically speeds chip-to-chip and machine-to-machine communication for cloud, datacenters, HPC, and AI chips/ Key Highlights Ansys and TSMC deliver a high-fidelity multiphysics solution to address design challenges for artificial intelligence (AI), datacenter, cloud, and high-performance computing (HPC) chips The combined effort covers a broad range of Ansys multiphysics simulation solutions, including semiconductor, thermal, electromagnetics, phot ...

Ansys (ANSS) recently introduced a modern virtual support platform known as AnsysGPT. It is an artificial intelligence (AI)-driven platform that is programmed using ChatGPT technology.The state-of-the-art platform is trained using Ansys data, which is available 24/7 to virtually assist customers by quickly responding to questions regarding Ansys products, relevant physics and other challenging engineering topics. It is a secure easy-to-use interface that aids engineers in getting real-time responses in mult ...

Ansys (ANSS) recently announced a collaboration with BAE Systems, Inc. to boost the uptake of digital and model-based systems engineering (MBSE) across Department of Defense (DoD).The companies will be working together to develop a critical digital and MBSE approach for security and defense applications. Ansys will aid clients of BAE Systems to overhaul system design, delivery and operation through an MBSE approach in alignment with DoD guideline 5000.97.Both the companies are focused on designing robust si ...