Cognex Corporation · NASDAQ:CGNX

Cognex — Investor Presentation (November 2021)

29 slides from Cognex's investor presentation, Nov 4, 2021

  1. Slide 1: Cognex Corporation Investor Overview Q3 2021

    COGNEX CORPORATION Investor Overview | Q3 2021 1 © 2021 Cognex Corporation

  2. Slide 2: Forward-Looking Statements

    FORWARD-LOOKING STATEMENTS Certain statements made in this presentation and oral statements made by Cognex® that do not relate solely to historical matters are forward-looking statements. These statements can be identified by use of the words “expects,” “anticipates,” “estimates,” “believes,” “proje

  3. Slide 3: Cognex at a glance

    75% OVER 40 $811 GROSS MARGIN YEARS IN BUSINESS MILLION 2020 REVENUE 27%* OPERATING MARGIN 3,000,000+ SYSTEMS SHIPPED *Excludes restructuring and other charges and tax adjustments. See reconciliation from GAAP to non-GAAP in Cognex earnings release issued on 2/11/2021. 3 © 2021 Cognex Corporation

  4. Slide 4: Technology Leadership

    TECHNOLOGY LEADERSHIP 16% R&D >1K OF REVENUE INTO US & INTERNATIONAL PATENTS ISSUED & PENDING 4 © 2021 Cognex Corporation

  5. Slide 5: Cognex Culture

    COGNEX CULTURE PLAY HARD WORK HARD MOVE FAST 5 © 2021 Cognex Corporation

  6. Slide 6: Culture, Sales, Growth, Engineering Excellence

    Culture Sales Engineering Growth Excellence 6 © 2021 Cognex Corporation

  7. Slide 7: What Is Machine Vision?

    WHAT IS MACHINE VISION? Brain Eyes Optics Vision software & algorithms 7 © 2021 Cognex Corporation

  8. Slide 8: What Does Machine Vision Do?

    WHAT DOES MACHINE VISION DO? GUIDE IDENTIFY GAUGE INSPECT 8 © 2021 Cognex Corporation

  9. Slide 9: What Does Machine Vision Do?

    WHAT DOES MACHINE VISION DO? GUIDE IDENTIFY GAUGE INSPECT 9 © 2021 Cognex Corporation

  10. Slide 10: What Does Machine Vision Do?

    WHAT DOES MACHINE VISION DO? GUIDE IDENTIFY GAUGE INSPECT 10 © 2021 Cognex Corporation

  11. Slide 11: What Does Machine Vision Do?

    WHAT DOES MACHINE VISION DO? GUIDE IDENTIFY GAUGE INSPECT 11 © 2021 Cognex Corporation

  12. Slide 12: What Does Machine Vision Do?

    WHAT DOES MACHINE VISION DO? GUIDE IDENTIFY GAUGE INSPECT 12 © 2021 Cognex Corporation

  13. Slide 13: Machine Vision Is a Great Market

    MACHINE VISION IS A GREAT MARKET 360 MILLION 35 MILLION FACTORY WORKERS WORLDWIDE VISUAL INSPECTORS Source: Estimates based on internal data and data from International Labor Organization & World Bank 13 © 2021 Cognex Corporation

  14. Slide 14: Industries Served

    4 INDUSTRIES SERVED  Logistics  Electronics  Automotive  Robotics  Life Sciences  Consumer Products  Pharmaceuticals  Medical Devices  Food and Beverage 14 © 2021 Cognex Confidential

  15. Slide 15: Cognex Products

    COGNEX PRODUCTS 15 © 2021 Cognex Confidential

  16. Slide 16: Cognex's $4.2 Billion Served Market

    COGNEX’S $4.2 BILLION SERVED MARKET Others Cognex $1,400M $1,000M $1,000M $400M $200M $200M 100% Projected 80% Market Growth Low Double Digits 60% 40% 20% 0% Life Mobile 2D Vision ID Factory Automation Logistics 3D Sciences Terminals Total Cognex 30% 20% >10% >5% <5% <5% ~20% Share Estimated Long-te

  17. Slide 17: 2D Vision

    2D VISION  Cognex’s core market  Recognized market leader  Preeminent brand  Powerful vision toolset 17 © 2021 Cognex Corporation

  18. Slide 18: ID Factory Automation

    ID FACTORY AUTOMATION  Broadest portfolio of industrial image-based barcode readers  Read rates matter  Strong prospects for continued share gain 18 © 2021 Cognex Corporation

  19. Slide 19: Logistics

    LOGISTICS  Market undergoing rapid change  Revenue grew by ~40% in 2020 and represented 20%+ of company total  Many new applications in both vision and ID 19 © 2021 Cognex Corporation

  20. Slide 20: 3D Vision

    3D VISION  New smart camera platform  Powerful easy-to-use true 3D vision tools  Target growth in excess of long-term market rate 20 © 2021 Cognex Corporation

  21. Slide 21: Life Sciences

    LIFE SCIENCES  Highly regulated, non- cyclical market  Long product life cycle  25 design wins in 2020  Consistent, stable, fast growing ongoing revenue 21 © 2021 Cognex Corporation

  22. Slide 22: Mobile Terminals

    MOBILE TERMINALS  Target market ripe for disruption  Unique integration of smartphones and high- performance vision tools 22 © 2021 Cognex Corporation

  23. Slide 23: Deep Learning

    DEEP LEARNING  Neural network trained by example  Specific to industrial machine vision  Advanced capabilities for complex inspections 23 © 2021 Cognex Corporation

  24. Slide 24: Industry 4.0

    INDUSTRY 4.0  Transform big data into smart data  Streamline device management  Access industry-specific visualization tools 24 © 2021 Cognex Corporation

  25. Slide 25: Financial Review

    FINANCIAL REVIEW 25 © 2021 Cognex Corporation

  26. Slide 26: Cognex 10-Year Revenue

    COGNEX 10-YEAR REVENUE* $900 $800 CAGR $700 5 Year 11% $600 10 Year 13% $500 $400 $300 $200 $100 $0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 * From continuing operations. Dollars in millions 26 © 2021 Cognex Corporation

  27. Slide 27: Q3 2021 Income Statement

    Q3 2021 INCOME STATEMENT Dollars in thousands, except per share amounts Q3 % of Q3 % of % 2021 Revenue 2020 Revenue Change Revenue $284,848 100 % $251,073 100 % 13 % Gross Margin 199,136 70 191,332 76 4 R, D & E 34,476 12 30,240 12 14 S, G & A 77,113 27 64,206 26 20 Operating Income 87,547 31 96,635

  28. Slide 28: Q3 2021 Balance Sheet

    Q3 2021 BALANCE SHEET Assets 10/3/2021 12/31/2020 Cash and Investments $985,386 $767,438 Accounts Receivable 129,784 125,696 Inventories 81,170 60,830 Deferred Tax Assets 420,962 434,704 Other Assets 431,501 412,034 Total Assets $2,048,803 $1,800,702 Liabilities and Shareholders’ Equity Accounts Pay

  29. Slide 29: Leader Success

    INDUSTRY CONSISTENT EARNINGS LEADER VERSATILE CORE TECHNOLOGY CASH GENERATOR LEVERAGE EXPERIENCED TRACK RECORD OF STRONG MANAGEMENT SUCCESS BALANCE SHEET 29 © 2021 Cognex Corporation

Cognex — Investor Presentation (November 2021) on 6ix