Slide 1: Cognex Q4-2024 Financial Results
Cognex Q4-2024 Financial Results February 12, 2025 1 © 2025 Cognex Corporation
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements made in this report, 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 can ide
Slide 3: 2024 Highlights
2024 Highlights 2024 Revenue 2024 Adj. Gross Margin ▪ Significant progress on 2024 strategic priorities: $915 Million 69.3% 1) Launched new products with powerful AI 2) Expanded and transformed our sales force, which grew and broadened our customer base 3) Successfully integrated Moritex, our larges
Slide 4: VisionPro Deep Learning 4.0: Train Models Up to 10x Faster
VisionPro Deep Learning 4.0: Train Models Up to 10x Faster Cognex’s first product featuring Raw image breakthrough AI Transformer models of defect • Our new Few Sample Mode technology is powered by a Heatmap using completely new architecture and provides powerful Few Sample Mode ☺ results using only
Slide 5: New DataMan Series: Cognex's First AI-Enabled ID Readers
New DataMan Series: Cognex’s First AI-Enabled ID Readers FIND AI-guided positioning and tuning Real-time positioning feedback ensures the code is at the optimal distance from the reader. Then, easily find the right settings with automated tuning. E N H AN C E AI-enhanced decoding Increase image qual
Slide 6: Investment In Sales Transformation and Expansion
Investment In Sales Transformation and Expansion 2024 TARGETS FOR NEW SALES COHORT Expanded Sales Force to Reach Underpenetrated Customers ~80K ~3K ~$25m >75% CUSTOMER VISITS NEW CUSTOMERS Y/Y OPEX INCREASE GROSS MARGIN ▪ Simplicity of new products driven by AI- enabled Edge Learning leading to abil
Slide 7: 2024 End Market Results
2024 End Market Results END MARKET % OF REVENUE* 2024 Y/Y (Ex-Moritex) DRIVERS (Incl. Moritex) ▪ Investments by large e-commerce players and further penetration of Logistics 23% +20% broader logistics market ▪ Base auto headwinds Automotive 22% -14% ▪ EV battery demand much lower than expectations C
Slide 8: Q4-2024 Financial Highlights
Q4-2024 Financial Highlights Revenue increased 17% as reported and 12% 1. excluding Moritex. All figures in $ million, except per share amounts Q4-2024 Q4-2023 Y/Y Excluding Moritex, revenue was up materially in Revenue 230 197 +17% 2. all geographies except Europe, where it declined slightly. Adjus
Slide 9: 2024 Financial Highlights
2024 Financial Highlights Revenue increased 9% as reported and 1% 1. excluding Moritex. Excluding Moritex, revenue was up in Other Asia All figures in $ million, except per share amounts 2024* 2023 Y/Y 2. and the Americas, declined slightly in Europe, and declined more materially in Greater China. R
Slide 10: Q1-2025 Outlook
Q1-2025 Outlook 1ST QUARTER EXPECTATIONS Q1-2025 Q1-2024 Y/Y Continued Logistics and Semiconductor All figures in $ million, unless specified Guidance momentum, offset by weaker Automotive 1. and an estimated $5 million FX headwind Revenue 200 – 220 211 -5 to +4% at current rates. Sequential step-do
Slide 11: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures, including adjusted gross margin, Beginning in the fourth quarter of 2023, we updated the adjusted operating expense, adjusted operating income, adjusted EBITDA, adjusted net income, adjusted calculation of ou
Slide 12: GAAP to Non-GAAP Tables
GAAP to Non-GAAP Tables USD $ in 000s unless noted as per share Three-months Ended Twelve-months Ended December 31, September 29, December 31, December 31, December 31, 2024 2024 2023 2024 2023 Gross profit (GAAP) $ 157,859 $ 159,399 $ 135,044 $ 625,794 $ 601,241 Acquisition and integration costs 21
Slide 13: GAAP to Non-GAAP Tables
GAAP to Non-GAAP Tables USD $ in 000s unless noted as per share Three-months Ended Twelve-months Ended December 31, September 29, December 31, December 31, December 31, 2024 2024 2023 2024 2023 Net income (GAAP) $ 28,346 $ 29,591 $ 11,229 $ 106,171 $ 113,234 Loss (recovery) from fire - - (2,750) - (
Slide 14: Description of Certain Adjustments
Description of Certain Adjustments 1. Depreciation The company incurs expense related to its normal use of 4. Amortization assets of acquisition-related intangible property, plant and equipment The Company excludes the amortization of acquired intangible assets from non- GAAP expense and income meas
Slide 15: Investor Relations Team & Upcoming Activity
Investor Relations Team & Upcoming Activity Save the Date! 2025 Cognex Investor Day June 9-10 Natick, MA Headquarters Upcoming Conferences March Raymond James Institutional Investors Orlando Nathan Jordan March Cantor Fitzgerald Technology NYC McCurren Bertier HEAD OF IR & SENIOR May Truist Securiti