| Metric | Value ($ M) | Q2 FY25 |
|---|---|---|
| Revenue | 268.44 | 7.8% |
| Total Income | 268.44 | 7.8% |
| Expenditure | 208.56 | 1.4% |
| PBT | 61.76 | 28.5% |
| Net Profit | 51.70 | 27.6% |
| OPM | 22.30% | 4.87pp |
| NPM | 19.26% | 3.00pp |
| EPS | 0.31 | 29.2% |
Cognex Reports Q2 2026 Results: Record Revenue of $291M, Up 17% YoY
06 Aug 2026 · 6 Aug, 2:08 am
Summary
Cognex Corporation reported record second-quarter revenue of $291 million, a 17% increase year over year, driven by broad-based strength across most end markets. The company demonstrated significant operational leverage, with operating margin at 29.4% and Adjusted EBITDA margin at 32.2%, up 1,150 basis points year over year, reflecting eight consecutive quarters of margin expansion. Net income per diluted share was $0.43, with Adjusted diluted earnings per share up 80% year over year to $0.45. Management expressed confidence in their strategy, highlighting strong performance, margin expansion, and earnings growth, and issued guidance for full-year 2026 anticipating double-digit revenue growth and substantial profitability expansion.
Key Highlights
- 1
Cognex achieved record quarterly revenue of $291 million, marking a 17% increase year over year.
- 2
Operating margin reached 29.4%, with Adjusted EBITDA margin at 32.2%, showing an 1,150 basis point increase year over year.
- 3
Net income per diluted share was $0.43, and Adjusted diluted earnings per share grew 80% year over year to $0.45.
- 4
The company issued full-year 2026 guidance anticipating strong double-digit revenue growth and significant year-over-year expansion in profitability.
- 5
OneVision™, Cognex's AI-powered vision application platform, was announced as generally available, with hundreds of customers already using it.
- 6
Gross margin improved to 70.6% from 67.4% in the prior year's second quarter, driven by favorable mix and volume.
- 7
Free Cash Flow (FCF) generation increased by 70% to $68 million compared to the second quarter of 2025.
Management Comments
Matt Moschner
Q2 was another strong quarter for Cognex and further evidence that our strategy is driving results. We delivered exceptional performance, highlighted by record revenue, strong margin expansion, and significant earnings growth, which we believe reflects both a more favorable demand environment and focused execution across the business. We continue to make meaningful progress against our strategic objectives to extend our leadership in AI-enabled machine vision, deliver the leading customer experience in the industry, and double our customer base. We believe that diversification is central to the next chapter of Cognex’s growth. We are focused on broadening our reach across customers, channels, adjacencies and end markets, while prioritizing the automation challenges where we expect our technology can create the most value. We believe this strategy will position Cognex to shape the future of AI-enabled machine vision and deliver more sustainable and profitable growth over time.
Dennis Fehr
We believe that our Q2 performance underscores the strength of our profitable growth strategy and the strong leverage in our financial model. We are continuing to transform our operating model to drive higher productivity, support sustainable margin expansion, and strengthen our ability to scale efficiently over time. We believe that this disciplined approach will enable us to support Cognex’s long-term growth objectives while reinforcing our commitment to creating shareholder value.
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