Cognex Corporation · NASDAQ:CGNX
Cognex — Raymond James 47th Annual Institutional Investors Conference (March 2026)
14 slides from Cognex's conference presentation, Mar 2, 2026
Slide 1: Introduction to Cognex
Introduction to Cognex Raymond James 47th Annual Institutional Investors Conference Matt Moschner | President and Chief Executive Officer March 2, 2026 © 2026 Cognex Corporation
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements made in this presentation, as well as oral statements made by the Company from time to time, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Readers c
Slide 3: What is machine vision?
What is machine vision? Vision Software & Algorithms A camera captures images Optics which are sent to a processor A machine vision system where machine vision software operates much like your vision tools and algorithms interpret it. does: a sophisticated optical device. 3 © 2026 Cognex Corporation
Slide 4: Well positioned to capture expansive market opportunity
INVESTMENT THESIS Well positioned to capture expansive market opportunity TECHNOLOGY LEADER LARGE GROWTH MARKET Strong brand with deep domain expertise and $7B 1 market across diverse set of verticals continuous investment into AI. with ~10%-11% CAGR2 through-cycle. DIRECT SALES AS A COMPETITIVE EDG
Slide 5: New Senior Leadership Team (July 2025)
New Senior Leadership Team (July 2025) Matt Moschner Carl Gerst Dennis Fehr Sheila DiPalma Reto Wyss President and Executive Vice President Chief Financial Officer Executive Vice President Vice President Chief Executive Officer Global Sales & Products Employee Services Vision Engineering Chief Cultu
Slide 6: Cognex snapshot (NASDAQ: CGNX)
Cognex snapshot (NASDAQ: CGNX) $994M 28% 1,350+ 45 2025 ADJ. EBITDA MARGIN YEARS OF MACHINE REVENUE1 PATENTS ISSUED & PENDING 10-YR HISTORICAL AVERAGE VISION LEADERSHIP Other Asia 18% Americas COGNEX GLOBAL HQ NATICK, MA, USA 2,700+ 41% Cognoids globally Geographic Greater 16% Revenue Mix China 2025
Slide 7: We serve a ~$7B machine vision market with overall market share in the mid-teens
We serve a ~$7B machine vision market with overall market share in the mid-teens S E RV E D M AR K E T B Y V E R T I C AL We sell into a Auto $0.5B $0.5B diverse set of $1.8B Logistics attractive verticals Electronics $1.2B $7B 1 expected to grow at MARKET Packaging2 IN 2024 a ~10%–11% market Semi C
Slide 8: Five-Year Strategic Objectives
Five-Year Strategic Objectives #1 #1 2x AI technology for industrial In Customer Experience across the industry Customers served machine vision applications #1 or #2 Market Position in all major markets1 21 © 2026 Cognex Corporation 1) >10% market share in China
Slide 9: Focused Execution on Strategic Objectives
Focused Execution on Strategic Objectives AI technology for in Customer #1 industrial machine vision applications #1 Experience across the industry 2x Customers served ▪ DataMan® 290: AI for auto- ▪ AI-powered assistants on ▪ Acquired ~9,000 new setup and advanced code website answer questions custo
Slide 10: Completed Strategic Portfolio Review and Transforming the Operating Model to Drive Opex Efficiency
Completed Strategic Portfolio Review and Transforming the Operating Model to Drive Opex Efficiency Transforming the Portfolio Optimization Operating Model Reviewed entire product portfolio and Holistic review of cost structure identified began exiting no-growth, low-margin additional efficiency oppo
Slide 11: Strategic Evolution of the Cognex Go-to-Market Model
Strategic Evolution of the Cognex Go-to-Market Model LEVERS FROM EMERGING CUSTOMER INITIATIVE TO SALESFORCE TRANSFORMATION Stand-alone organization Integrated global organization with 3 distinct selling styles More boots on the ground Optimizing salesforce efficiency through process & tools Comprehe
Slide 12: Increasing Through-Cycle Adjusted EBITDA Margin Range
Increasing Through-Cycle Adjusted EBITDA Margin Range UNCHANGED INCREASED UNCHANGED 13% - 14% 25% - 31% >100% Revenue CAGR Adjusted EBITDA Margin Free Cash Flow Conversion1 incl. 3% Inorganic Growth long-term VALUE CREATION 12 © 2026 Cognex Corporation 1) Defined as Free Cash Flow divided by Adjuste
Slide 13: 2025 End Market Results and Initial 2026 View
2025 End Market Results and Initial 2026 View % OF REVENUE 2025 FULL-YEAR INITIAL END MARKET Full-year 20252 REVENUE GROWTH2 2026 VIEW Logistics 26% DD MSD to HSD Packaging1 21% HSD MSD to HSD Consumer Electronics 19% DD HSD to DD Automotive 19% (HSD) FLAT to LSD Semiconductor 10% MSD MSD to DD OTHE
Slide 14: Thank you
Thank you 14 © 2026 Cognex Corporation
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