Synopsys Issues Statement in Connection with BIS Letter
SUNNYVALE, Calif., May 29, 2025 /PRNewswire/ -- Today, Synopsys, Inc. (NASDAQ:SNPS) has suspended its financial guidance for the third quarter of fiscal year 2025 and full fiscal year 2025. The company issued the below statement:
On May 29, 2025, following the announcement of Synopsys' financial results of its second fiscal quarter ended April 30, 2025, Synopsys received a letter from the Bureau of Industry and Security of the U.S. Department of Commerce informing Synopsys of new export restrictions related to China (the "BIS Letter"). Synopsys is currently assessing the potential impact of the BIS Letter on its business, operating results and financial condition.
About Synopsys
Catalyzing the era of pervasive intelligence, Synopsys, Inc. (NASDAQ:SNPS) delivers trusted and comprehensive silicon to systems design solutions, from electronic design automation to silicon IP and system verification and validation. We partner closely with semiconductor and systems customers across a wide range of industries to maximize their R&D capability and productivity, powering innovation today that ignites the ingenuity of tomorrow. Learn more at www.synopsys.com.
INVESTOR CONTACT:
Trey Campbell
Synopsys, Inc.
650-584-4289
[email protected]
EDITORIAL CONTACT:
Cara Walker
Synopsys, Inc.
650-584-5000
[email protected]
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding Synopsys' assessment of the potential impact of the BIS Letter. These statements involve risks, uncertainties and other factors, including those factors listed in Synopsys' most recent reports on Form 10-K and Form 10-Q, that could cause our actual results, time frames or assessment to differ materially from those expressed or implied in such forward-looking statements. The information provided herein is as of May 29, 2025. Synopsys undertakes no duty to, and does not intend to, update any forward-looking statement, whether as a result of new information, future events or otherwise, unless required by law.
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SOURCE Synopsys, Inc.