Cognex Corporation · NASDAQ:CGNX
Cognex — Baird 2024 Global Industrial Conference
12 slides from Cognex's conference presentation, Nov 14, 2024
Slide 1: Introduction to Cognex
Introduction to Cognex Baird 2024 Global Industrial Conference Rob Willett | President & CEO November 14, 2024 1 © 2024 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 Securities Exchange Act
Slide 3: The global leader in industrial machine vision and barcode reading
The global leader in industrial machine vision and barcode reading >$11 75% OVER 40 BILLION GROSS MARGIN 10-yr historical average YEARS IN BUSINESS CUMULATIVE REVENUE $838 27% >1,100 ADJ OPERATING MARGIN PATENTS ISSUED & PENDING MILLION 10-yr historical average 2023 REVENUE 3 © 2024 Cognex Corporati
Slide 4: Cognex Revenue History
COGNEX REVENUE HISTORY Revenue ($M) ‘11-’21 ‘21-’23 CAGR 14% -10% -10% $1,037M $1,006M +14% $806M $811M $838M $766M $726M $530M $461M $471M $308M $274M $274M 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 4 © 2024 Cognex Corporation
Slide 5: What is machine vision?
What is machine vision? Brain Eyes Optics Vision software & algorithms 5 © 2024 Cognex Corporation
Slide 6: What does machine vision do?
What does machine vision do? Guide Identify Gauge Inspect 6 © 2024 Cognex Corporation
Slide 7: 360 million factory workers worldwide, 35 million visual inspectors
Final 360 million 35 million Factory workers worldwide Visual inspectors Source: Estimates based on internal data and data from International Law Organization & World Bank 7 © 2024 Cognex Corporation
Slide 8: Trends driving adoption of machine vision
Trends driving adoption of machine vision Manufacturing labor shortage Emphasis on speed, quality, Near shoring & supply chain traceability hardening 8 © 2024 Cognex Corporation
Slide 9: Cognex's $6.5B+ served market
Cognex’s $6.5B+ served market $1,500M $1,350M $2,000M $650M $1,000M 100% 80% Excludes 2023 expansion 60% into new market adjacencies 40% that added at $1.5B 20% 0% Automotive Electronics Logistics Medical- Others Total related Est. Cognex share 15% 20% 15% > 10% < 20% > 15% Est. Long-term 10% 15% 20
Slide 10: Why businesses choose Cognex
Why businesses choose Cognex Easy and flexible Intuitive products that can be set-up, maintained, and tuned by line staff Highest performance Solve simple to advanced applications at unmatched rates, and at production speed Reliable and dependable Self-service tools and a global network of support e
Slide 11: Emerging Customer Initiative
Emerging Customer Initiative 2024 EXPECTATIONS Expanding Sales Force to Reach Underpenetrated Customers ~80K ~3K ~$25m >75% ▪ Simplicity of new products driven by AI- CUSTOMER VISITS NEW CUSTOMERS Y/Y OPEX INCREASE GROSS MARGIN enabled Edge Learning leading to ability to target a broader base of cus
Slide 12: Cognex Culture
Cognex Culture Work hard! Play hard! Move fast! 12 © 2024 Cognex Corporation