Earnings summaries and quarterly performance for COGNEX.
Executive leadership at COGNEX.
Matt Moschner
Detailed
President and Chief Executive Officer
CEO
CG
Carl Gerst
Detailed
Executive Vice President, Global Sales & Products
DL
Darren Long
Detailed
Vice President, Customer Success
DF
Dennis Fehr
Detailed
Chief Financial Officer
JK
Joerg Kuechen
Detailed
Chief Technology Officer
MF
Mark Fennell
Detailed
Chief Legal Officer and Corporate Secretary
MB
Mike Bowdoin
Detailed
Vice President, Operations
RW
Reto Wyss
Detailed
Vice President, Vision Engineering
RR
Richard Reuter
Detailed
Senior Director, Hardware Engineering
SD
Sheila DiPalma
Detailed
Executive Vice President, Employee Services, Chief Culture Officer
SS
Shirin Saleem
Detailed
Vice President, Software Engineering
Board of directors at COGNEX.
Research analysts who have asked questions during COGNEX earnings calls.
Piyush Avasthy
Citi
5 questions for CGNX
Also covers: RAL, SYM, ZBRA
AB
Andrew Buscaglia
BNP Paribas
4 questions for CGNX
Also covers: AME, APH, EMR +12 more
DK
Damian Karas
UBS
4 questions for CGNX
Also covers: ALH, AOS, CR +14 more
Jacob Levinson
Melius Research
4 questions for CGNX
Also covers: GWW, VLTO
Jamie Cook
Truist Securities
4 questions for CGNX
Also covers: ACM, AGCO, AME +18 more
Thomas Moll
Stephens Inc.
3 questions for CGNX
Also covers: CARR, DGII, DSGR +13 more
Tommy Moll
Stephens Inc.
3 questions for CGNX
Also covers: CARR, DGII, DSGR +12 more
BF
Brooke Flynn
BNP Paribas
2 questions for CGNX
GH
Guy Hardwick
Freedom Capital Markets
2 questions for CGNX
Also covers: APH, GWW, MANH +9 more
Jairam Nathan
Daiwa Capital Markets
2 questions for CGNX
Also covers: ALV, CAT, DE +1 more
JR
James Ricchiuti
Needham & Company, LLC
2 questions for CGNX
Also covers: AEIS, BELFA, BHE +20 more
Joe Ritchie
Goldman Sachs
2 questions for CGNX
Also covers: ALLE, ATS, CARR +20 more
JG
Joseph Giordano
TD Cowen
2 questions for CGNX
Also covers: ABLZF, AME, APH +22 more
KN
Ken Newman
KeyBanc
2 questions for CGNX
Also covers: AIT, BOOM, DSGR +5 more
KW
Kevin Wilson
Truist Securities
2 questions for CGNX
Also covers: ACM, J, RAL +1 more
Michael Feniger
Bank of America
2 questions for CGNX
Also covers: ACM, AGCO, CAT +13 more
JN
Jerome Nathan
Daiwa
1 question for CGNX
Joseph Ritchie
Goldman Sachs
1 question for CGNX
Also covers: ALLE, CARR, CNM +22 more
Katie Fleischer
KeyBanc Capital Markets
1 question for CGNX
Also covers: DSGR, EMR, GWW +4 more
KH
Keith Housum
Northcoast Research
1 question for CGNX
Also covers: AXON, BRC, CDW +12 more
Kenneth Newman
KeyBanc Capital Markets
1 question for CGNX
Also covers: AIT, BOOM, DSGR +10 more
MA
Michael Anastasiou
Cowen and Company
1 question for CGNX
Also covers: AME, ITT
RM
Robert Mason
Robert W. Baird & Co.
1 question for CGNX
Also covers: AEIS, AME, ATMU +12 more
Recent press releases and 8-K filings for CGNX.
Cognex Reports 2025 Revenue, Upgrades EBITDA Target, and Provides 2026 Growth Outlook
CGNX
Guidance Update
Product Launch
Revenue Acceleration/Inflection
- Cognex reported full-year 2025 revenue of $994 million.
- The company upgraded its adjusted EBITDA target from 20%-30% to 25%-31% for a five-year through-cycle period, driven by OpEx efficiency, portfolio optimization, and pricing.
- Strategic initiatives include launching four new AI-first products in 2025, aiming to double its customer base over the next five years (adding 9,000 new customers in 2025), and implementing a $35 million-$40 million annualized OpEx reduction by the end of 2026.
- For 2026, Cognex anticipates a mid-single to high, single-digit growth rate across all its end markets, based on an initial view.
5 days ago
Cognex Reports 2025 Revenue, Updates Profitability Targets, and Outlines 2026 Growth Outlook
CGNX
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Cognex reported $994 million in revenue for full year 2025 and upgraded its five-year through-cycle profitability targets to 25%-31% Adjusted EBITDA.
- The company plans an annualized OpEx reduction of $35 million-$40 million by the end of 2026 and will exit or divest $22 million of revenue from low-growth, low-margin areas in 2026.
- Cognex aims to double its customer base over the next five years, having added 9,000 new customers in 2025.
- For 2026, Cognex anticipates a mid-single to high single-digit growth rate across all its end markets.
5 days ago
Cognex Details 2025 Performance, Strategic Objectives, and New Leadership
CGNX
Guidance Update
Management Change
Revenue Acceleration/Inflection
- Cognex reported $994 million in revenue for 2025, which included a $13 million one-time benefit from a medical lab automation commercial partnership.
- The company aims for an increased Adjusted EBITDA Margin of 25%-31% and an unchanged revenue CAGR of 13%-14% (including 3% inorganic growth).
- Strategic initiatives include a portfolio optimization that involves exiting approximately $22 million of revenue from no-growth, low-margin products and an operating model transformation expected to result in $35-$40 million in annualized operating expense reductions by the end of 2026.
- Cognex acquired approximately 9,000 new customers in 2025 as part of its objective to double the number of customers served.
- A new senior leadership team was appointed in July 2025, including Matt Moschner as President and CEO and Dennis Fehr as CFO.
5 days ago
Cognex Reports 2025 Revenue and Outlines 2026 Growth and Profitability Targets
CGNX
Guidance Update
Product Launch
Revenue Acceleration/Inflection
- Cognex reported $994 million in revenue for 2025 and anticipates mid-single to high single-digit growth across all end markets for 2026.
- The company upgraded its adjusted EBITDA profitability targets from 20%-30% to 25%-31% for five-year through-cycle targets, driven by OpEx efficiency, portfolio optimization, and pricing/COGS productivity.
- Strategic objectives include maintaining AI technology leadership, improving customer experience, and aiming to double its customer base over the next five years, having added 9,000 new customers in 2025.
- Cognex plans to exit or divest $22 million of revenue in 2026 and announced a $35 million-$40 million annualized OpEx reduction by the end of 2026.
5 days ago
Cognex Updates 2026 Financial Outlook and Growth Strategy
CGNX
Guidance Update
New Projects/Investments
- Cognex adjusted its 2025 revenue baseline to $965 million after accounting for a one-time event and portfolio optimization, and projects illustrative 2026 revenue between $1.015 billion and $1.035 billion based on 5%-7% growth. The company also aims for a 25% adjusted EBITDA run rate by the end of 2026, up from 20.7% in 2025, supported by mid-single-digit growth and $35 million-$40 million in OpEx reductions.
- The company maintains its long-term target of 10%-11% through-cycle growth, driven by 4% from underlying industrial market growth and 6%-7% from penetration. This penetration is significantly boosted by AI-enabled machine vision applications like OneVision, which provides on-device "Physical AI" solutions, addressing customer needs for high accuracy, speed, and cybersecurity.
- Cognex achieved $33 million in gross cost reductions in 2025 and is implementing a salesforce transformation focused on digitalization, process optimization, and automation to enhance sales efficiency. This strategy led to acquiring 9,000 new accounts in 2025, three times the rate of 2024, with a future focus on expanding wallet share with these customers.
Feb 19, 2026, 1:50 PM
Cognex Provides 2026 Revenue Outlook and Margin Targets, Highlights AI and Penetration Opportunities
CGNX
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Cognex projects 2026 revenue between $1.015 billion and $1.035 billion, based on an adjusted 2025 baseline of $965 million. This adjustment accounts for a $12 million one-time revenue event and $17 million from exited portfolio optimization.
- The company targets a 25% EBITDA run rate by the end of 2026 and has increased its through-the-cycle adjusted EBITDA margin range to 25%-31%. This is supported by $35 million-$40 million in OpEx reduction and operating model optimization.
- Cognex expects 10%-11% through-cycle growth, with 6%-7% attributed to penetration opportunities and 4% to underlying industrial market growth. Packaging is a key penetration-driven market, while semiconductor growth is capacity-driven.
- AI is a major growth driver, with platforms like OneVision enabling new machine vision applications and increasing market penetration. The company also acquired 9,000 new accounts in 2025, three times the 2024 rate, and plans to focus on expanding engagement with these customers.
Feb 19, 2026, 1:50 PM
Cognex Discusses 2026 Outlook and Market Dynamics
CGNX
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Cognex projects an illustrative 2026 revenue range of $1.015 billion-$1.035 billion, based on an adjusted 2025 baseline of $965 million and 5%-7% growth.
- The company aims for a 25% adjusted EBITDA margin run rate by the end of 2026, up from 20.7% in 2025, supported by mid-single-digit growth and $35 million-$40 million in cost reductions.
- Key end markets show varied outlooks: packaging is expected to grow mid-single to high single digits in 2026 driven by penetration, semiconductor has a good start in 2026 due to capacity, and consumer electronics is anticipated to see high single-digit to double-digit growth. Logistics growth is expected to moderate in 2026 after two strong years, while automotive saw a bottom at the end of 2025 after declines in 2024 and 2025.
- Cognex acquired 9,000 new accounts in 2025, tripling the rate of 2024, through a sales force transformation focused on data-driven automation and efficiency.
Feb 19, 2026, 1:50 PM
Cognex Updates Financial Targets and Market Outlook
CGNX
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Cognex reported mid-single-digit organic growth in 2025, following a pronounced down cycle from 2021-2024, and observed strong year-end demand in Q4 2025, leading to a positive outlook for Q1 2026.
- The company has adjusted its 2026 revenue baseline to $965 million and projects $1.015 billion - $1.035 billion with an illustrative 5-7% growth rate, after accounting for non-recurring revenue and portfolio optimization.
- Cognex raised its through-the-cycle margin target from 20-30% to 25-31%, driven by successful execution and confidence in future cost-saving initiatives, primarily in SG&A and R&D.
- Key end markets show varied trends: Logistics (26% of 2025 revenue) is expected to grow mid-single to high single digits in 2026, Semiconductor saw strong growth in 2024 and 2025 with positive signals for 2026, and Consumer Electronics experienced double-digit growth in 2025. Automotive is no longer a headwind.
- Cognex positions itself as an "AI winner", having integrated AI into its products for nearly a decade and deploying it internally for operational efficiency and cost savings.
Feb 18, 2026, 6:50 PM
Cognex Corporation Discusses 2026 Growth Outlook and Raised Margin Targets
CGNX
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Cognex anticipates mid-single-digit organic growth for 2025, following a prolonged down cycle, with strong year-end demand in Q4 2025 contributing to a positive outlook and strong Q1 2026 guidance. The company projects an illustrative 2026 revenue range of $1.015 billion to $1.035 billion based on a re-baselined 2025 revenue of $965 million.
- The company raised its through-cycle margin target from 20%-30% to 25%-31%, attributing this to successful execution ahead of plan and clear visibility into future cost optimization efforts across SG&A and R&D.
- Key end markets show positive momentum: Semiconductor saw mid-single-digit growth in 2025 and is showing positive signals earlier than expected in 2026. Consumer Electronics delivered double-digit broad-based growth in 2025, driven by supply chain shifts and consumer refresh cycles. Logistics (26% of 2025 revenue) is expected to grow mid-to-high single digits in 2026 through automation.
- Cognex identifies as an 'AI winner,' having integrated AI into all new products since 2022 using proprietary machine vision models, which unlocks new applications and drives internal cost savings through AI-assisted coding, sales force automation, and customer service.
Feb 18, 2026, 6:50 PM
Cognex Corporation Discusses Demand Trends and Margin Targets
CGNX
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Cognex Corporation is emerging from a down cycle, reporting mid-single-digit organic growth in 2025 and seeing strong demand in Q4 2025, leading to a strong Q1 2026 guide.
- The company has adjusted its 2025 revenue baseline for 2026 to $965 million and projects 2026 revenue between $1.015 billion and $1.035 billion with an illustrative 5%-7% growth rate.
- Cognex has raised its through-the-cycle margin target from 20%-30% to 25%-31%, attributing this to successful execution and confidence in future cost optimization and portfolio adjustments.
- The company views itself as an AI winner, having integrated AI into products for nearly a decade and leveraging it for new applications and internal cost savings in areas like coding, sales automation, and customer service.
- Key end markets like Logistics (26% of 2025 revenue) are expected to grow at mid-single to high single digits in 2026, with positive signals in Semiconductor and Consumer Electronics, and Automotive no longer being a headwind.
Feb 18, 2026, 6:50 PM
Quarterly earnings call transcripts for COGNEX.
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