AI Earnings Predictions for Cognex Corporation (CGNX)

EX-99.1

2 a04052026-xex991xq12026ear.htm

EX-99.1

Document

Exhibit 99.1

Cognex Reports First Quarter 2026 Results

May 6, 2026 — NATICK, MA — Cognex Corporation (NASDAQ: CGNX), the global technology leader in industrial machine vision, today reported financial results for the first quarter ended April 5, 2026.

First-Quarter Financial and Operating Highlights

•Revenue increased 24% year over year, or 21% on a constant-currency basis, exceeding expectations due to broad-based strength across major end markets.

•Operating margin was 22.3%; Adjusted EBITDA margin reached 26.9%, expanding 1,010 basis points year over year and marking the seventh consecutive quarter of margin improvement.

•Net income per diluted share was $0.31; Adjusted diluted earnings per share of $0.34 increased 113% year over year, representing the seventh straight quarter of growth.

•Returned $113 million to shareholders in Q1 primarily through opportunistic share repurchases.

•Advancing AI vision innovation: introduced two breakthrough AI vision platforms – the In‑Sight® 6900 powered by NVIDIA and the In‑Sight® 3900 embedded AI vision system powered by Qualcomm.

•Successfully completed the divestiture of the Japan‑focused trading business as part of the announced portfolio optimization.

“Since the CEO transition was announced a year ago, we’ve moved with urgency to focus our strategy, strengthen execution, and position Cognex for sustainable, profitable growth,” said Matt Moschner, President and CEO. “This was evident in Q1, highlighted by the launch of two breakthrough AI vision systems, the completion of the trading business divestiture and continued execution toward our announced cost reduction target. We believe that this progress is clearly reflected in our Q1 results, with an exceptional start to the year and broad‑based outperformance during the quarter."

Mr. Moschner continued, "Our latest AI vision products reinforce our technology leadership and objective of becoming the #1 provider of AI‑powered machine vision. By combining our industry-leading AI vision tools with high-performance embedded systems and the scalability of OneVision™, we’re enabling customers to solve more complex inspection challenges at the edge – faster, easier, and without the cost and complexity of PC-based architectures."

Dennis Fehr, CFO, added, “Our strong Q1 performance reflects disciplined execution and continued progress against our profitable growth strategy. As we continue to transform our operating model, we expect to drive higher productivity, support sustainable margin expansion, and reinforce our commitment to creating long‑term shareholder value."

Financial Performance Highlights for the First Quarter

(Dollars in millions, except per share amounts)

Three-months ended

April 05, 2026March 30, 2025Y/Y Change

Revenue$268$216+24%

Operating Income$60$26+131%

% of Revenue22.3%12.1%+1,020 bps

Adjusted EBITDA*$72$36100%

% of Revenue26.9%16.8%+1,010 bps

Net Income per Diluted Share$0.31$0.14+121%

Adjusted EPS (Diluted)*$0.34$0.16+113%

*Adjusted EBITDA and Adjusted EPS (Diluted) include non-GAAP adjustments. A reconciliation from GAAP to non-GAAP metrics is provided in this news release.

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•Revenue was $268 million, compared with $216 million in the first quarter of 2025, an increase of 24%. Excluding the impact of foreign currency exchange (FX), revenue increased 21% compared to the prior year. The year-over-year increase in revenue was driven by broad-based strength across major end markets.

•Gross margin was 71.1% compared to 66.8% in the first quarter of 2025. Adjusted gross margin of 71.8% compared to 67.6% in the first quarter of 2025, an increase of 420 basis points. The year-over-year increase was primarily driven by favorable mix and volume, slightly offset by tariffs.

•Operating expenses were $131 million compared to $118 million in the first quarter of 2025, an increase of 11%. Adjusted operating expenses were $125 million compared to $115 million in the first quarter of 2025, an increase of 9%. On a constant-currency basis, Adjusted operating expenses increased 4% year over year, driven by higher incentive compensation, partially offset by disciplined cost management.

•Operating income was $60 million compared to $26 million in the first quarter of 2025, an increase of 131%. Operating margin was 22.3% compared to 12.1% in the first quarter of 2025, an increase of 1,020 basis points. Adjusted operating margin was 25.2% compared to 14.4% in the first quarter of 2025, an increase of 1,080 basis points.

•Adjusted EBITDA was $72 million compared to $36 million in the first quarter of 2025, an increase of 100%. Adjusted EBITDA margin was 26.9% compared to 16.8% in the first quarter of 2025, an increase of 1,010 basis points. The year-over-year expansion was driven by revenue growth and favorable mix.

•Net income of $52 million compared to $24 million in the first quarter of 2025, an increase of 117%. Adjusted net income

cgnx-202602110000851205FALSE00008512052026-02-112026-02-11

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

February 11, 2026 Date of Report (date of earliest event reported)

Cognex Corporation (Exact name of registrant as specified in its charter)

Massachusetts (State or other jurisdiction of incorporation or organization) 001-34218 (Commission File Number) 04-2713778 (I.R.S. Employer Identification Number)

One Vision Drive Natick, Massachusetts 01760

(Address of principal executive offices and zip code)

(508) 650-3000

(Registrant's telephone number, including area code)

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:

☐ 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 Name of each exchange on which registered

Common stock, par value $.002 per shareCGNXThe 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 On February 11, 2026, Cognex Corporation (the "Company") issued a news release to report its financial results for the quarter and year ended December 31, 2025. The release is furnished as Exhibit 99.1 hereto. The information in Item 2.02 of this Current Report on Form 8-K, including the Exhibit attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, regardless of any general incorporation language in such filing.

Item 8.01 - Other Events On February 11, 2026, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.085 per share. The dividend is payable on March 12, 2026, to all shareholders of record at the close of business on February 26, 2026.

Additionally, on February 11, 2026, the Company announced that its Board of Directors authorized the repurchase of an additional $500,000,000 of the Company’s common stock through open market purchases, privately negotiated transactions or otherwise in compliance with applicable securities laws. The Board also reauthorized the Company to establish Rule 10b5-1 trading plans. The Company may repurchase shares pursuant to its repurchase program depending upon a variety of factors, including, among other things, the impact of dilution from equity-based awards, stock price, share availability, and cash requirements.

Item 9.01 - Financial Statements and Exhibits (d) Exhibits

Exhibit No.Description 99.1News release, dated February 11, 2026, by Cognex Corporation with respect to financial results for the quarter and year ended December 31, 2025 (furnished herewith)

104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 11th day of February, 2026.

COGNEX CORPORATION

By: /s/ Dennis Fehr Name: Dennis Fehr Title: Senior Vice President of Finance and Chief Financial Officer

cgnx-202510290000851205FALSE00008512052025-10-292025-10-29

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

October 29, 2025 Date of Report (date of earliest event reported)

Cognex Corporation (Exact name of registrant as specified in its charter)

Massachusetts (State or other jurisdiction of incorporation or organization) 001-34218 (Commission File Number) 04-2713778 (I.R.S. Employer Identification Number)

One Vision Drive Natick, Massachusetts 01760

(Address of principal executive offices and zip code)

(508) 650-3000

(Registrant's telephone number, including area code)

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:

☐ 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 Name of each exchange on which registered

Common stock, par value $.002 per shareCGNXThe 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 On October 29, 2025, Cognex Corporation (the "Company") issued a news release to report its financial results for the quarter ended September 28, 2025. The release is furnished as Exhibit 99.1 hereto. The information in Item 2.02 of this Current Report on Form 8-K, including the Exhibit attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, regardless of any general incorporation language in such filing.

Item 8.01 - Other Events On October 29, 2025, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.085 per share. The dividend is payable on November 28, 2025, to all shareholders of record at the close of business on November 13, 2025.

Item 9.01 - Financial Statements and Exhibits (d) Exhibits

Exhibit No.Description 99.1News release, dated October 29, 2025, by Cognex Corporation with respect to financial results for the quarter ended September 28, 2025 (furnished herewith)

104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 29th day of October, 2025.

COGNEX CORPORATION

By: /s/ Dennis Fehr Name: Dennis Fehr Title: Senior Vice President of Finance and Chief Financial Officer