Cognex Corporation · NASDAQ:CGNX

Cognex — Investor Presentation (October 2020)

29 slides from Cognex's investor presentation, Oct 28, 2020

  1. Slide 1: Cognex Corporation Investor Overview Q3 2020

    COGNEX CORPORATION Investor Overview | Q3 2020 1 © 2020 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

    74% OVER 39 $726 GROSS MARGIN YEARS IN BUSINESS MILLION 2019 REVENUE 20% OPERATING MARGIN 2,300,000+ SYSTEMS SHIPPED 3 © 2020 Cognex Corporation

  4. Slide 4: Technology Leadership

    TECHNOLOGY LEADERSHIP 16% R&D >1K OF REVENUE INTO US & INTERNATIONAL PATENTS ISSUED & PENDING 4 © 2020 Cognex Corporation

  5. Slide 5: Cognex Culture

    COGNEX CULTURE PLAY HARD WORK HARD MOVE FAST 5 © 2020 Cognex Corporation

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

    Culture Sales Engineering Growth Excellence 6 © 2020 Cognex Corporation

  7. Slide 7: What Is Machine Vision?

    WHAT IS MACHINE VISION? Brain Eyes Optics Vision software & algorithms 7 © 2020 Cognex Corporation

  8. Slide 8: What Does Machine Vision Do?

    WHAT DOES MACHINE VISION DO? GUIDE IDENTIFY GAUGE INSPECT 8 © 2020 Cognex Corporation

  9. Slide 9: What Does Machine Vision Do?

    WHAT DOES MACHINE VISION DO? GUIDE IDENTIFY GAUGE INSPECT 9 © 2020 Cognex Corporation

  10. Slide 10: What Does Machine Vision Do?

    WHAT DOES MACHINE VISION DO? GUIDE IDENTIFY GAUGE INSPECT 10 © 2020 Cognex Corporation

  11. Slide 11: What Does Machine Vision Do?

    WHAT DOES MACHINE VISION DO? GUIDE IDENTIFY GAUGE INSPECT 11 © 2020 Cognex Corporation

  12. Slide 12: What Does Machine Vision Do?

    WHAT DOES MACHINE VISION DO? GUIDE IDENTIFY GAUGE INSPECT 12 © 2020 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 © 2020 Cognex Corporation

  14. Slide 14: Products across all industries made better with Cognex vision

    PRODUCTS ACROSS ALL INDUSTRIES ARE MADE BETTER AND AT LOWER COST WITH COGNEX VISION 14 © 2020 Cognex Corporation

  15. Slide 15: Cognex Products

    COGNEX PRODUCTS 15 © 2020 Cognex Corporation

  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 © 2020 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 © 2020 Cognex Corporation

  19. Slide 19: Logistics

    LOGISTICS  Market undergoing rapid change  Revenue >15% of company total in 2019  Many new applications in both vision and ID 19 © 2020 Cognex Corporation

  20. Slide 20: 3D Vision

    3D VISION  New snap-shot sensing platforms  Powerful vision tools, including PatMax 3D  Target growth in excess of long-term market rate 20 © 2020 Cognex Corporation

  21. Slide 21: Life Sciences

    LIFE SCIENCES  Highly regulated, non- cyclical market  Long product life cycle  20 design wins in 2019  Consistent, stable, fast growing ongoing revenue 21 © 2020 Cognex Corporation

  22. Slide 22: Mobile Terminals

    MOBILE TERMINALS  Target market ripe for disruption  Unique integration of smartphones and high- performance vision tools 22 © 2020 Cognex Corporation

  23. Slide 23: Deep Learning

    DEEP LEARNING  Neural network trained by example  Specific to industrial machine vision  Human-like judgement for ambiguous problems 23 © 2020 Cognex Corporation

  24. Slide 24: Industry 4.0

    INDUSTRY 4.0 24 © 2020 Cognex Corporation

  25. Slide 25: Financial Review

    FINANCIAL REVIEW 25 © 2020 Cognex Corporation

  26. Slide 26: Cognex 10-Year Revenue

    COGNEX 10-YEAR REVENUE* $800 $700 CAGR 3 Year 11% $600 5 Year 9% $500 10 Year 18% $400 $300 $200 $100 $0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 * From continuing operations. Dollars in millions 26 © 2020 Cognex Corporation

  27. Slide 27: Q3 2020 Income Statement

    Q3 2020 INCOME STATEMENT (as reported under GAAP) Q3 % of Q3 % of % 2020 Revenue 2019 Revenue Change Revenue $251,073 100 % $183,325 100 % 37 % Gross Margin 191,332 76 135,693 74 41 R, D & E 30,240 12 28,115 15 8 S, G & A 64,206 26 64,486 35 - Operating Income 96,635 38 43,092 24 124 Net Income 87,5

  28. Slide 28: Q3 2020 Balance Sheet

    Q3 2020 BALANCE SHEET Assets 9/27/2020 12/31/2019 Cash and Investments $1,013,064 $845,353 Accounts Receivable 127,755 103,447 Inventories 53,860 60,261 Deferred Tax Assets 439,574 449,519 Other Assets 426,262 427,355 Total Assets $2,060,515 $1,885,935 Liabilities and Shareholders’ Equity Accounts P

  29. Slide 29: Industry Leader, Success

    INDUSTRY CONSISTENT EARNINGS LEADER VERSATILE CORE TECHNOLOGY CASH GENERATOR LEVERAGE EXPERIENCED TRACK RECORD OF STRONG MANAGEMENT SUCCESS BALANCE SHEET 29 © 2020 Cognex Corporation

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