Slide 1: Cognex Q1 2025 Earnings
Cognex Q1 2025 Earnings April 30, 2025 1 © 2025 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: Matt Moschner
Matt Moschner PRESIDENT AND CHIEF OPERATING OFFICER P R I O R TO C O G N E X Held key leadership positions in: ▪ Boston Consulting Group & ▪ Technology and Innovation Boeing ▪ Product and Engineering ▪ MBA from Northwestern’s ▪ Logistics Kellogg School of ▪ Operations and Supply Chain Management ▪ B
Slide 4: Five-Year Strategic Objectives
Five-Year Strategic Objectives #1 #1 2x AI technology for industrial in Customer Experience Customers served machine vision applications across the industry #1or #2 Market Position in all major markets1 4 © 2025 Cognex Corporation 1) >10% market share in China
Slide 5: June 9: Customer Engagement and Cocktail Reception
June 9: Customer Engagement and Cocktail Reception June 10: Management Presentations and Product Demos 9 AM-2 PM at Cognex Headquarters 2 Vision Drive, Natick, MA 01760 • 8-9 AM: Breakfast and Registration • 9-11 AM: Strategy, Technology, and Q&A • 11 AM-1 PM*: Product Demos and Lunch • 1-2 PM: Fina
Slide 6: Q1 2025 Highlights
Q1 2025 Highlights Q1 2025 Revenue $216 Million Continuous progress on strategic priorities: +5% Y/Y in constant currency ▪ Launched the In-Sight 8900 – bringing the power of AI to OEMs ▪ Transforming and expanding our sales force to reach a broader customer base and acquire new customers Q1 2025 Ad
Slide 7: New In-Sight 8900 – Powered by AI
New In-Sight 8900 – Powered by AI COMPACT, FULLY EMBEDDED VISION SYSTEM POWERED BY AI ▪ Performs a wide range of critical inspection processes for OEMs ▪ Most powerful smart camera available in compact form factor KEY FEATURES ▪ Embedded AI ▪ Fast processing and acquisition ▪ Enhanced security feat
Slide 8: Q1 2025 End Market Results
Q1 2025 End Market Results % OF REVENUE END MARKET Q1 DRIVERS 2025 TRENDS Full-year 2024 Continued momentum driven by e- Logistics 23% Continued strong growth commerce Decline driven by lower project activity Automotive 22% Continued softness as expected and investment levels Stable with penetration
Slide 9: Q1 2025 Financial Highlights
Q1 2025 Financial Highlights Adj. EBITDA Margin Free Cash Flow Conversion1 Share Repurchase 16.8% 120% $102 Million +490bps Y/Y Trailing twelve months rate Highest value since Q1 2022 1) Defined as Free Cash Flow divided by Adjusted Net Income 9 © 2025 Cognex Corporation Please see the appendix of t
Slide 10: Q1 2025 Financial Highlights
Q1 2025 Financial Highlights Revenue increased 2% as reported and 5% Q1 Q1 Y/Y 1. excluding FX headwinds. All figures in $ million, except per share amounts 2025 2024 Change Constant-currency revenue was up materially in Revenue 216 211 +2% 2. the Americas, offset by declines in Europe (Auto) and Gr
Slide 11: Direct cost impact from current tariffs expected to be substantially mitigated
Direct cost impact from current tariffs expected to be substantially mitigated; global supply chain recalibration is a growth opportunity WE MANAGE WHAT WE CAN CONTROL THERE ARE ASPECTS WE CAN’T CONTROL 1. We expect to substantially mitigate the direct 1. Near-term uncertainty on overall macroeconom
Slide 12: Q2 2025 Outlook
Q2 2025 Outlook 2 nd QUARTER EXPECTATIONS Q2 2025 Q2 2024 Y/Y Guidance Results Change* All figures in $ million, unless specified 1. Revenue backdrop. growth reflects mixed macro Revenue $235 – $255 $239 +2.5% Sequential step-up in revenue driven 2. primarily by typical seasonality in Consumer Elect
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures, including adjusted gross profit and Cognex may also disclose results on a constant- margin, adjusted operating expense, adjusted operating income and margin, adjusted EBITDA and margin, currency basis as one
Slide 14: GAAP to Non-GAAP Tables
GAAP to Non-GAAP Tables USD $ in 000s unless noted as per share Three-months Ended March 30, December 31, March 31, 2025 2024 2024 Gross profit (GAAP) $ 144,323 $ 157,859 $ 141,937 Acquisition and integration costs 242 213 1,568 Amortization of acquisition-related intangible assets 1,338 1,360 1,429
Slide 15: GAAP to Non-GAAP Tables
GAAP to Non-GAAP Tables USD $ in 000s unless noted as per share Three-months Ended March 30, December 31, March 31, 2025 2024 2024 Net income (GAAP) $ 23,603 $ 28,346 $ 12,022 Acquisition and integration costs 780 974 2,871 Amortization of acquisition-related intangible assets 2,628 2,492 2,813 Reor
Slide 16: 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 17: Investor Relations Team & Upcoming Activity
Investor Relations Team & Upcoming Activity 2025 Cognex Investor Day June 9-10 Natick, MA Headquarters Register HERE Upcoming Conferences May Truist Securities Industrials Conference Philadelphia Greer Jordan Aviv Bertier May Automate 2025 Detroit SENIOR IR SENIOR CONSULTANT MANAGER, IR May TD Cowen