Cognex Corporation (NASDAQ:CGNX) Q4 2022 Earnings Conference Call February 16, 2023 5:00 PM ET Company Participants Nathan McCurren - Head of Investor Relations Robert Willett - President & Chief Executive Officer Paul Todgham - Chief Financial Officer Conference Call Participants Josh Pokrzwinski - Morgan Stanley Joe Ritchie - Goldman Sachs Joe Giordano - Cowen Guy Hardwick - Credit Suisse Jacob Levinson - Melius Research Jim Ricchiuti - Needham & Company Rob Mason - Baird Paul Chung - JPMorgan Matt Summer ...

Research, Development, and Engineering Cognex engages in research, development, and engineering (RD&E) to enhance our existing products and to develop new products and functionality to address market opportunities. We believe that a continued commitment to RD&E activities is essential to maintain or achieve product leadership with our existing products and to provide innovative new product offerings, as well as to provide engineering support for large customers. In addition, we consider our ability to accel ...

Cognex Corporation (NASDAQ:CGNX) Q3 2022 Earnings Conference Call November 3, 2022 5:00 PM ET Company Participants Susan Conway - Senior Director of Investor Relations Rob Willett - President & Chief Executive Officer Paul Todgham - Chief Financial Officer Conference Call Participants Joe Giordano - Cowen Joe Ritchie - Goldman Sachs Josh Pokrzwinski - Morgan Stanley Jake Levinson - Melius Research Jim Ricchiuti - Needham & Company Jairam Nathan - Daiwa Capital Markets Will Jellison - D.A. Davidson Damian Ka ...

Cognex Corporation (NASDAQ:CGNX) Q2 2022 Earnings Conference Call August 2, 2022 5:00 PM ET Company Participants Susan Conway – Senior Director of Investor Relations Rob Willett – President and Chief Executive Officer Paul Todgham – Chief Financial Officer Conference Call Participants Joshua Pokrzywinski – Morgan Stanley Joe Ritchie – Goldman Sachs Rob Mason – Baird Joe Giordano – Cowen Jacob Levinson – Melius Research Jim Ricchiuti – Needham & Co. Andrew Buscaglia – Berenberg Matt Summerville – D.A. Davids ...

COGNEX CORPORATION Investor Overview | Q1 2022 1 © 2022 Cognex Corporation 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," "projects," "intends," "plans," "will," "may," "shall," "could," "should," and similar words and other statements of a similar sense. These sta ...

Cognex Corporation (NASDAQ:CGNX) Q1 2022 Results Conference Call May 5, 2022 5:00 PM ET Company Participants Susan Conway - Senior Director, IR Rob Willett - President, CEO Paul Todgham - CFO Conference Call Participants Andrew Buscaglia - Berenberg Jacob Levinson - Melius Research Jairam Nathan - Daiwa Jim Ricchiuti - Needham & Co. Joe Ritchie - Goldman Sachs Joe Giordano - Cowen Rob Mason - Baird Operator Greetings, and welcome to Cognex First Quarter 2022 Earnings Conference Call. [Operator Instructions] ...

Cognex Corporation (NASDAQ:CGNX) Q4 2021 Earnings Conference Call February 17, 2022 5:00 PM ET Company Participants Susan Conway - Senior Director, IR Rob Willett - President and CEO Paul Todgham - CFO Conference Call Participants Josh Pokrzywinski - Morgan Stanley Jacob Levinson - Melius Research Michael Anastasiou - Cowen and Company Matt Summerville - D.A. Davidson Jim Ricchiuti - Needham & Co. Andrew Buscaglia - Berenberg Capital Markets Markus Mittermaier - UBS Jairam Nathan - Daiwa Securities Bobby ...

Table of Content UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2021 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to . Commission File Number 001-34218 COGNEX CORPORATION (Exact name of registrant as specified in its charter) Massachusetts 04-2713778 (State or ...

Cognex Corporation (NASDAQ:CGNX) Q3 2021 Results Conference Call November 4, 2021 5:00 PM ET Company Participants Susan Conway - Senior Director-Investor Relations Rob Willett - President and Chief Executive Officer Paul Todgham - Chief Financial Officer Conference Call Participants Josh Pokrzywinski - Morgan Stanley Jacob Levinson - Melius Research Joe Ritchie - Goldman Sachs Joe Giordano - Cowen & Co Andrew Buscaglia - Berenberg Capital Markets Operator Greetings, and welcome to the Cognex Third Quarter 2 ...

Financial Data and Key Metrics Changes - Cognex reported record revenue of $269 million for Q2 2021, representing a 59% increase year-on-year and 35% above pre-COVID levels from Q2 2019 [19][20] - Gross margin was 75%, significantly improved year-on-year due to an $8 million excess inventory charge in Q2 2020, but declined sequentially due to revenue mix and supply chain cost increases [21][24] - Non-GAAP earnings per share were $0.43 in Q2 2021, compared to $0.18 in Q2 2020 and $0.36 in Q1 2021 [24] Business Line Data and Key Metrics Changes - Logistics remained the largest end market, achieving record revenue driven by strong e-commerce demand [8] - Consumer electronics contributed to growth but is expected to be modestly below last year's levels due to reduced investment in smartphone manufacturing [9] - Automotive set a new quarterly revenue record, recovering from previous lows, with significant contributions from various sectors including consumer products and food and beverage [10] Market Data and Key Metrics Changes - Revenue growth was broad-based across all regions, with Europe being the fastest-growing region, increasing by over 60% year-on-year [25] - The Americas saw more than 50% growth, primarily driven by logistics, automotive, and medical-related industries [26] - Asia also experienced over 50% growth, with significant contributions from consumer electronics and automotive sectors [26] Company Strategy and Development Direction - Cognex is focusing on new product development, including VisionPro 10 and SmartLine, to enhance its technology offerings and maintain competitive advantage [14][15] - The company is transitioning its logistics business from customized to standard solutions to improve scalability and gross margins [18] - Strategic investments are being made in high-potential customers, particularly in logistics, to drive future growth [32] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging supply chain environment, which has led to longer lead times and increased backlog, estimating a potential 5% higher revenue without these issues [35] - For Q3 2021, revenue is expected to be between $275 million and $295 million, representing a year-on-year growth of about 14% [30] - Management anticipates some seasonal softness in consumer electronics and expects gross margins to be in the low to mid-70% range due to ongoing supply chain pressures [32] Other Important Information - Cognex maintains a strong cash position with $952 million in cash and investments and no debt, with plans for continued stock buybacks [27] - The company declared a quarterly cash dividend of $0.06 per share, payable on September 3 [27] Q&A Session Summary Question: Supply chain impact on sales - Management indicated that while sales are strong, they believe revenue could have been 5% higher without supply chain issues [35] Question: Margin normalization - Management noted that supply chain costs and a strategic investment in logistics are affecting margins, but they expect to maintain a long-term operating margin benchmark of around 75% [36] Question: Automation in pharmaceuticals - Management sees significant growth potential in the pharmaceutical distribution market, emphasizing the value of their technology in tracking and tracing products [38] Question: Deep learning advantages - Management highlighted that deep learning technology is opening up new inspection applications that were previously not cost-effective or reliable [44] Question: Sequential revenue drivers - The primary drivers for Q3 revenue growth are expected to be consumer electronics and logistics, with consumer electronics historically being the largest quarter [48] Question: Automotive growth context - Automotive was the fastest-growing market, with significant contributions from EV battery manufacturing and a shift in demand dynamics [53] Question: Semiconductor market demand - Management noted strong demand in the semiconductor sector, driven by capacity shortages and ongoing investments [74] Question: COVID impact on supply chain - Management expressed confidence in their Indonesian subcontractor's ability to manage COVID risks effectively, with no significant supply chain challenges reported [75]