8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

October 27, 2022

____________________

National Instruments Corporation

(Exact name of registrant as specified in its charter)

Delaware	000-25426	74-1871327
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

11500 North MoPac Expressway

Austin, Texas 78759

(Address of principal executive offices, including zip code)

(512) 683-0100

(Registrant's telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	NATI	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

Attached hereto as Exhibit 99.1 and incorporated by reference herein is the text of the press release of National Instruments Corporation (“NI”), dated October 27, 2022, regarding the unaudited financial results for NI’s third fiscal quarter ended September 30, 2022.

The information in the press release attached hereto as Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.

Item 8.01 Other Events

On October 27, 2022, NI announced that its Board of Directors declared a dividend of $0.28 per share payable on November 28, 2022 to stockholders of record at the close of business on November 7, 2022. A copy of the press release announcing the dividend is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(d)  Exhibits.

Exhibit No.	Description
99.1	Press Release, dated October 27, 2022
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NATIONAL INSTRUMENTS CORPORATION
By:	/s/ R. Eddie Dixon, Jr.
	Name: R. Eddie Dixon, Jr. Title:  Chief Legal Officer, Senior Vice President & Secretary

Date:  October 27, 2022

EX-99.1

Contact:	Marissa Vidaurri
	Head of Investor Relations
	(512) 683-5215

NI Reports Record Third Quarter Revenue, up 17 Percent YOY

Operating margin up more than 100 basis points YTD

Q3 2022 Summary

• Record GAAP revenue of $428 million, up 17 percent year over year

• Record orders for a third quarter, up 12 percent year over year

• Strong diluted GAAP EPS of $0.47 and diluted non-GAAP EPS of $0.53

• Cash and cash equivalents of $149 million as of September 30, 2022

AUSTIN, Texas - October 27, 2022 - National Instruments Corporation (Nasdaq: NATI) today announced Q3 2022 revenue of $428 million, up 17 percent year over year, an all-time quarterly record.

In Q3 2022, the total value of the company's orders was up 12 percent year over year. For Q3, year over year orders were up 16 percent in the Americas, down 1 percent in APAC, and up 23 percent in EMEA.

In Q3, GAAP gross margin was 66 percent and non-GAAP gross margin was 70 percent. Total GAAP operating expenses were $237 million and non-GAAP operating expenses were $208 million. GAAP operating income for Q3 was $80 million with non-GAAP operating income of $92 million. In Q3, GAAP operating margin was 19 percent with non-GAAP operating margin of 21 percent.

GAAP net income for Q3 was $62 million and non-GAAP net income was $71 million, with GAAP diluted EPS of $0.47 and non-GAAP diluted EPS of $0.53. GAAP net income includes $26 million of gains, net of tax, related to real estate sales that were completed during the third quarter of 2022.

“We achieved very strong performance in the third quarter with record orders, revenue and non-GAAP EPS for a third consecutive quarter." said Eric Starkloff, NI President and CEO. “The initiatives that we’ve executed since 2017 have transformed NI into a company with higher growth, better profitability, and lower cyclicality. We believe these strategic shifts position us to meet our three year plan for growth and margin expansion."

“We planned ahead and are taking action in anticipation of a semiconductor downturn and the impact of a weaker macro economy. Looking ahead, we will continue to sharpen our focus on making intentional investments for growth, pivoting to new customer opportunities, and on continuing to increase scale and leverage across our business,” said Karen Rapp, NI CFO. "Through disciplined cost management, we remain focused on delivering on our commitment to increase non-GAAP operating margin by 100 basis points in 2022.”

As of September 30, 2022, NI had $149 million in cash and cash equivalents. During the third quarter, NI paid $37 million in dividends and repurchased approximately 2 million shares of its common stock at an average price of $40.25 per share. The NI Board of Directors approved a quarterly dividend of $0.28 per share payable on November 28, 2022, to stockholders of record as of the close of business on November 7, 2022.

NI's non-GAAP results exclude, as applicable, the impact of purchase accounting fair value adjustments, stock-based compensation, amortization of acquisition-related intangibles, acquisition-related transaction and integration costs, taxes levied on the transfer of acquired intellectual property, foreign exchange loss on acquisitions, restructuring charges, tax reform charges, disposal gains on properties and buildings and related charitable contributions, tax effects related to businesses held for sale, gain on sale of businesses, and capitalization and amortization of internally developed software costs. Reconciliations of the NI's GAAP and non-GAAP results are included as part of this news release.

YTD 2022 Summary

• Record GAAP revenue of $1,209 million, up 15 percent year over year

• Record orders, up 18 percent year over year

• Strong diluted GAAP EPS of $0.75, up 103 percent year over year and record diluted non-GAAP EPS of $1.30, up 20 percent year over year

Guidance

• Q4 GAAP revenue to be in the range of $435 million to $465 million, up 7 percent year over year at the midpoint

• GAAP diluted EPS to be in the range of $0.22 to $0.36 for Q4, down 3 percent year over year at the midpoint

• Non-GAAP diluted EPS expected to be in the range of $0.54 to $0.68, up 2 percent year over year at the midpoint

Conference Call Information

Today, NI management will host a call with the investment community to discuss the company's financial performance in the third quarter. Investors can listen to the Q3 2022 earnings conference call beginning at 4:00 p.m. CT today. This event will be webcast in listen-only mode. Listeners may log on to the call at http://www.ni.com/investor-relations under the “Events and Presentations” section and select “Q3 2022 NATI Earnings Conference Call” to participate. The webcast will remain on the company site for 90 days.

Non-GAAP Presentation

To supplement NI’s financial statements presented on a GAAP basis, NI has provided non-GAAP financial information, including non-GAAP revenue or net sales, gross profit, gross margin, operating expenses, operating income, operating margin, provision for income taxes, net income, net margin and diluted EPS and non-GAAP guidance for diluted EPS. A reconciliation of the adjustments to GAAP results is included in the tables below. Additionally, certain non-GAAP financial measures presented on a forward-looking basis, such as non-GAAP operating margin, were not reconciled to the comparable GAAP financial measures because the reconciliation could not be performed without unreasonable efforts due to the unpredictability of the amounts and timing of events affecting the items we exclude from non-GAAP measures. Non-GAAP financial information is not meant as a substitute for GAAP results, but is included because management believes such information is useful to our investors for informational and comparative purposes. In addition, certain non-GAAP financial information is used internally by management to evaluate and manage the company. The non-GAAP financial information used by NI may differ from that used by other companies. These non-GAAP measures should be considered in addition to, and not as a substitute for, the results prepared in accordance with GAAP.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including without limitation those statements about our expectations of accelerating growth and progress to meet or exceed our financial targets and long-term financial model, our continued momentum across regions and business units, our opportunities to drive growth, profitability and efficiency in our business, confidence in our strategy and the strategic changes made to our business, our ability to successfully integrate acquisitions and execute our growth strategy, our ability to turn backlog to revenue, our ability to drive customer demand through focus on high growth opportunities, the impacts of war in Europe, supply chain constraints and software licensing model transition on our financial results, and our guidance and expectations for our Q4 2022 revenue, diluted EPS and non-GAAP diluted EPS, and future operating expenses, backlog, lead times, gross margin, operating margin and tax rate. These statements are subject to a number of risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements.  Risks and uncertainties include without limitation: the global shortage of key components; effect of the global economic and geopolitical conditions; our international operations and foreign economies; adverse public health matters, including epidemics and pandemics such as the COVID-19 pandemic; our ability to effectively manage our partners and distribution channels; interruptions in our technology systems or cyber-attacks on our systems; the dependency of our product revenue on certain industries and the risk of contractions in such industries; concentration of credit risk and uncertain conditions in the global financial markets; our ability to compete in markets that are highly competitive; our ability to release successful new products or achieve expected returns; the risk that our manufacturing capacity and a substantial majority of our warehousing and distribution capacity are located outside of the U.S.; our dependence on key suppliers and distributors; longer delivery lead times from our suppliers; risk of product liability claims; dependence on our proprietary rights and risks of intellectual property litigation; the continued service of key management, technical personnel and operational employees; our ability to comply with environmental laws and associated costs; our ability to maintain our website; the risks of bugs, vulnerabilities, errors or design flaws in our products; our restructuring activities; our exposure to large orders; our shift to more system orders; our ability to effectively manage our operating expenses and meet budget; fluctuations in our quarterly results due to factors outside of our control; our outstanding debt; seasonal variation in our revenues; our ability to comply with laws and regulations; changes in tax rates and exposure to additional tax liabilities; our ability to make certain acquisitions or dispositions, integrate the companies we acquire or separate the companies we sold and/or enter into strategic relationships; risks related to currency fluctuations; and provisions in charter documents and Delaware law that delay or prevent our acquisition.  In addition, our ability to declare and/or pay declared dividends is subject to compliance with the terms of our existing credit agreement. The company directs readers to its Form 10-K for the year ended December 31, 2021, and the other documents it files with the SEC for other risks associated with the company’s future performance. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in our forward-looking statements.  All information in this release is as of the date above. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company’s expectations.

About NI

At NI, we bring together people, ideas and technology so forward thinkers and creative problem solvers can take on humanity’s biggest challenges. From data and automation to research and validation, we provide the tailored, software-connected systems engineers and enterprises need to Engineer Ambitiously™ every day.

National Instruments, NI and ni.com and Engineer Ambitiously are trademarks of National Instruments Corporation. Other product and company names listed are trademarks or trade names of their respective companies. (NATI-F)

National Instruments
Condensed Consolidated Balance Sheets
(in thousands)
	September 30,			December 31,
	2022			2021
	(unaudited)
Assets
Cash and cash equivalents	$	149,002		$	211,106
Accounts receivable, net		380,792			341,275
Inventories, net		373,544			289,243
Prepaid expenses and other current assets		144,145			89,925
Total current assets		1,047,483			931,549
Property and equipment, net		254,127			253,668
Goodwill		593,148			575,992
Intangible assets, net		219,730			220,418
Operating lease right-of-use assets		59,906			58,641
Other long-term assets		71,140			74,717
Total assets	$	2,245,534		$	2,114,985
Liabilities and Stockholders' Equity
Accounts payable and accrued expenses	$	96,848		$	83,218
Accrued compensation		61,166			111,261
Deferred revenue - current		118,257			137,818
Operating lease liabilities - current		13,288			13,137
Other taxes payable		61,002			59,109
Debt, current		25,000			—
Other current liabilities		52,079			40,671
Total current liabilities		427,640			445,214
Deferred income taxes		13,725			14,249
Income tax payable - non-current		40,646			54,195
Deferred revenue - non-current		50,177			32,822
Operating lease liabilities - non-current		32,027			30,468
Debt - non-current		542,768			300,000
Other long-term liabilities		15,066			14,340
Total liabilities	$	1,122,049		$	891,288
Stockholders' equity:
Common stock		1,306			1,323
Additional paid-in capital		1,183,329			1,129,647
Retained earnings		(18,135	)		112,858
Accumulated other comprehensive loss		(43,015	)		(20,131	)
Total stockholders' equity		1,123,485			1,223,697
Total liabilities and stockholders' equity	$	2,245,534		$	2,114,985

National Instruments
Condensed Consolidated Statements of Income
(in thousands, except per share data, unaudited)
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Net sales:
Product	$	389,620		$	325,724		$	1,088,110		$	927,307
Software maintenance		38,308			41,438			120,589			121,733
Total net sales		427,928			367,162			1,208,699			1,049,040
Cost of sales:
Product		139,823			99,072			378,154			286,485
Software maintenance		3,879			3,643			12,249			10,882
Total cost of sales		143,702			102,715			390,403			297,367
Gross profit		284,226			264,447			818,296			751,673
		66.4%			72.0%			67.7%			71.7%
Operating expenses:
Sales and marketing		119,951			117,065			365,015			345,048
Research and development		82,861			82,165			250,610			243,685
General and administrative		34,617			31,037			104,569			94,672
Total operating expenses		237,429			230,267			720,194			683,405
Gain on sale of assets		33,636			—			33,636			—
Operating income		80,433			34,180			131,738			68,268
Other expense		(5,150	)		(1,820	)		(8,622	)		(9,851	)
Income before income taxes		75,283			32,360			123,116			58,417
Provision for income taxes		13,376			5,183			23,539			9,438
Net income	$	61,907		$	27,177		$	99,577		$	48,979
Basic earnings per share	$	0.47		$	0.20		$	0.75		$	0.37
Diluted earnings per share	$	0.47		$	0.20		$	0.75		$	0.37
Weighted average shares outstanding -
Basic		132,044			133,031			132,040			132,657
Diluted		132,581			133,686			133,001			133,829
Dividends declared per share	$	0.28		$	0.27		$	0.84		$	0.81

Condensed Consolidated Statements of Cash Flows
(in thousands, unaudited)
	Nine Months Ended September 30,
	2022			2021
Cash flow from operating activities:
Net income	$	99,577		$	48,979
Adjustments to reconcile net income to net cash provided by operating activities:
Disposal gains on sale of assets		(33,636	)		—
Depreciation and amortization		68,828			73,418
Stock-based compensation		60,843			56,064
Loss from equity-method investees		(483	)		5,082
Deferred income taxes		928			(2,030	)
Net change in operating assets and liabilities		(204,987	)		(95,477	)
Net cash (used in) provided by operating activities		(8,930	)		86,036
Cash flow from investing activities:
Acquisitions, net of cash received		(72,802	)		(19,784	)
Capital expenditures		(39,193	)		(26,147	)
Proceeds from sale of assets		40,987			—
Capitalization of internally developed software		(388	)		(1,246	)
Additions to other intangibles		(3,165	)		(2,317	)
Acquisitions of equity-method investments		—			(15,753	)
Sales and maturities of short-term investments		—			59,714
Net cash used in  investing activities		(74,561	)		(5,533	)
Cash flow from financing activities:
Proceeds from revolving loan facility		268,000			100,000
Payments on revolving loan facility		(498,000	)		—
Proceeds from term loan		500,000			—
Payments on term loan		—			(98,750	)
Debt issuance costs		(2,348	)		(1,993	)
Proceeds from issuance of common stock		25,444			25,438
Repurchase of common stock		(151,831	)		(25,000	)
Dividends paid		(111,161	)		(107,397	)
Net cash provided by (used in) financing activities		30,104			(107,702	)
Impact of changes in exchange rates on cash		(8,717	)		(2,336	)
Net change in cash and cash equivalents		(62,104	)		(29,535	)
Cash and cash equivalents at beginning of period		211,106			260,232
Cash and cash equivalents at end of period	$	149,002		$	230,697

The following tables provide details with respect to the amount of GAAP charges related to stock-based compensation, amortization of acquisition-related intangibles and fair value adjustments, acquisition-related transaction and integration costs, capitalization and amortization of internally developed software costs, restructuring charges, gains on sale of assets, and other that were recorded in the line items indicated below (unaudited) (in thousands)
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Stock-based compensation
Cost of sales	$	1,300		$	1,183		$	3,775		$	3,487
Sales and marketing		7,148			6,332			21,439			18,949
Research and development		6,163			5,811			18,522			17,704
General and administrative		5,429			5,530			17,107			16,050
Provision for income taxes		(3,039	)		(2,798	)		(7,687	)		(10,036	)
Total	$	17,001		$	16,058		$	53,156		$	46,154
Amortization of acquisition-related intangibles and fair value adjustments
Net sales	$	371		$	421		$	1,114		$	1,971
Cost of sales		6,806			4,194			17,025			12,691
Sales and marketing		5,712			2,331			17,423			6,859
Research and development		—			—			(320	)		—
Other expense (income)		482			529			1,500			1,476
Provision for income taxes		(2,272	)		(917	)		(5,802	)		(2,870	)
Total	$	11,099		$	6,558		$	30,940		$	20,127
Acquisition transaction and integration costs, restructuring charges, and other
Net sales	$	(411	)	$	—		$	(411	)	$	—
Cost of sales		6,604			(7	)		8,548			(50	)
Sales and marketing		2,819			584			5,464			6,071
Research and development		453			386			1,555			1,422
General and administrative		1,461			850			4,479			7,388
Gain on sale of assets		(33,636	)		—			(33,636	)		—
Other expense (income)		(3,153	)		316			(5,285	)		4,322
Provision for income taxes		5,850			(238	)		4,494			(3,701	)
Total	$	(20,013	)	$	1,891		$	(14,792	)	$	15,452
(Capitalization) and amortization of internally developed software costs
Cost of sales	$	1,160		$	5,532		$	5,090		$	18,633
Research and development		(202	)		(525	)		(388	)		(1,246	)
Provision for income taxes		(216	)		(1,192	)		(1,059	)		(3,792	)
Total	$	742		$	3,815		$	3,643		$	13,595

National Instruments
Reconciliation of GAAP to Non-GAAP Measures
(in thousands, unaudited)
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Reconciliation of Gross Profit to Non-GAAP Gross Profit
Gross profit, as reported	$	284,226		$	264,447		$	818,296		$	751,673
Stock-based compensation		1,300			1,183			3,775			3,487
Amortization of acquisition-related intangibles and fair value adjustments		7,177			4,615			18,139			14,662
Acquisition transaction and integration costs, restructuring charges and other		6,193			(7	)		8,137			(50	)
Amortization of internally developed software costs		1,160			5,532			5,090			18,633
Non-GAAP gross profit	$	300,056		$	275,770		$	853,437		$	788,405
Non-GAAP gross margin		70.1%			75.0%			70.6%			75.0%
Reconciliation of Operating Expenses to Non-GAAP Operating Expenses
Operating expenses, as reported	$	237,429		$	230,267		$	720,194		$	683,405
Stock-based compensation		(18,740	)		(17,673	)		(57,068	)		(52,703	)
Amortization of acquisition-related intangibles and fair value adjustments		(5,712	)		(2,331	)		(17,103	)		(6,859	)
Acquisition transaction and integration costs, restructuring charges and other		(4,733	)		(1,820	)		(11,498	)		(14,881	)
Capitalization of internally developed software costs		202			525			388			1,246
Non-GAAP operating expenses	$	208,446		$	208,968		$	634,913		$	610,208
Reconciliation of Operating Income to Non-GAAP Operating Income(1)
Operating income, as reported	$	80,433		$	34,180		$	131,738		$	68,268
Stock-based compensation		20,040			18,856			60,843			56,190
Amortization of acquisition-related intangibles and fair value adjustments		12,889			6,946			35,242			21,521
Acquisition transaction and integration costs, restructuring charges and other		10,926			1,813			19,635			14,831
Net amortization of internally developed software costs		958			5,007			4,702			17,387
Gain on sale of assets		(33,636	)		—			(33,636	)		—
Non-GAAP operating income	$	91,610		$	66,802		$	218,524		$	178,197
Non-GAAP operating margin		21.4%			18.2%			18.1%			17.0%
Reconciliation of Provision for income taxes to Non-GAAP Provision for income taxes(2)
Provision for income taxes, as reported	$	13,376		$	5,183		$	23,539		$	9,438
Stock-based compensation		3,039			2,798			7,687			10,036
Amortization of acquisition-related intangibles and fair value adjustments		2,272			917			5,802			2,870
Acquisition transaction and integration costs, restructuring charges and other		1,967			238			3,323			3,701
Net amortization of internally developed software costs		216			1,192			1,059			3,792
Gain on sale of assets		(7,817	)		—			(7,817	)		—
Non-GAAP provision for income taxes(2)	$	13,053		$	10,328		$	33,593		$	29,837
(1): During the third quarter of 2022, the company recognized a gain of $34 million related to the sale of land and office buildings, presented within "Gain on sale of assets".
(2): The income tax effect related to each non-GAAP item is calculated based on the tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment, and considers the current and deferred tax impact of those adjustments.

Reconciliation of GAAP Net Income and Diluted EPS to Non-GAAP Net Income and Non-GAAP Diluted EPS
(in thousands, except per share data, unaudited)
	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Net income, as reported	$	61,907		$	27,177		$	99,577		$	48,979
Adjustments to reconcile net income to non-GAAP net income:
Stock-based compensation		20,040			18,856			60,843			56,190
Amortization of acquisition-related intangibles and fair value adjustments		13,371			7,475			36,742			22,997
Acquisition transaction and integration costs, restructuring charges and other		7,773			2,129			14,350			19,153
Net amortization of internally developed software costs		958			5,007			4,702			17,387
Gain on sale of assets(1)		(33,636	)		—			(33,636	)		—
Income tax effects and adjustments(2)		323			(5,145	)		(10,054	)		(20,399	)
Non-GAAP net income	$	70,736		$	55,499		$	172,524		$	144,307
Non-GAAP net margin		16.5%			15.1%			14.3%			13.7%
Diluted EPS, as reported	$	0.47		$	0.20		$	0.75		$	0.37
Adjustment to reconcile diluted EPS to non-GAAP diluted EPS
Stock-based compensation		0.15			0.14			0.46			0.42
Amortization of acquisition-related intangibles and fair value adjustments		0.10			0.06			0.28			0.17
Acquisition transaction and integration costs, restructuring charges and other		0.05			0.02			0.11			0.14
Net amortization of internally developed software costs		0.01			0.04			0.03			0.13
Gain on sale of assets(1)		(0.25	)		—			(0.25	)		—
Income tax effects and adjustments(2)		—			(0.04	)		(0.08	)		(0.15	)
Non-GAAP diluted EPS	$	0.53		$	0.42		$	1.30		$	1.08
(1): During the third quarter of 2022, the company recognized a gain of $34 million related to the sale of land and office buildings, presented within "Gain on sale of assets".
(2): The income tax effect related to each non-GAAP item is calculated based on the tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment, and considers the current and deferred tax impact of those adjustments.
Weighted average shares outstanding - Diluted		132,581			133,686			133,001			133,829

Reconciliation of GAAP Diluted EPS to Non-GAAP Diluted EPS Guidance
(unaudited)
	Three Months Ended
	December 31, 2022
	Low			High
GAAP Diluted EPS, guidance	$	0.22		$	0.36
Adjustment to reconcile diluted EPS to non-GAAP diluted EPS:
Stock-based compensation		0.15			0.15
Amortization of acquisition-related intangibles and fair value adjustments		0.10			0.10
Acquisition transaction and integration costs, restructuring charges, and other(1)		0.13			0.13
Income tax effects and adjustments(2)		(0.06	)		(0.06	)
Non-GAAP Diluted EPS, guidance	$	0.54		$	0.68
(1): Includes $10 million of pre-tax charitable contribution using a portion of the proceeds received from real estate sales completed in the third quarter of 2022.
(2): The income tax effect related to each non-GAAP item is calculated based on the tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment, and considers the current and deferred tax impact of those adjustments.

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Document and Entity Information	Oct. 27, 2022
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Oct. 27, 2022
Entity File Number	000-25426
Entity Registrant Name	National Instruments Corporation
Entity Central Index Key	0000935494
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-1871327
Entity Address, Address Line One	11500 North MoPac Expressway
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78759
City Area Code	512
Local Phone Number	683-0100
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	NATI
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false