Cognex Reports Record Revenue, Raises Margin Outlook as AI Platform Gains Traction

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Cognex reported record quarterly revenue of roughly $290 million and issued third-quarter guidance with a midpoint of $310 million, which would set another quarterly record. The company upgraded its growth outlook for four of its five end markets, citing a more constructive macroeconomic environment and purchasing managers' indexes around 55 that have been in expansion territory for about six months. Adjusted EBITDA margin rose to 32% in the latest quarter from 17% in 2024, with a 33% midpoint guided for the third quarter, and the company is targeting $35 million in annualized cost reductions while expecting 2026 adjusted operating expenses to be below 2025 levels. Cognex highlighted its OneVision AI platform, which became fully commercially available about two months ago and has seen strong early customer adoption, as a growth catalyst rather than a competitive threat. The company also noted that higher memory-chip prices are creating modest cost pressure, with the expected third-quarter impact raised to 75 basis points from an earlier estimate of 50 basis points, though it expects to offset the pressure through pricing actions.

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Cognex Corporation
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Record revenue and strong adoption of OneVision AI platform indicate robust end-customer demand.

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