Cognex(US:CGNX) Prnewswireยท2025-04-30 20:30Financial Performance Highlights - Cognex reported revenue of $216 million for Q1 2025, a 2% increase year-on-year, and a 5% increase on a constant-currency basis [4][6] - Operating income rose to $26 million, an 84% increase from $14 million in Q1 2024, resulting in an operating margin of 12.1%, up 540 basis points [4][15] - Adjusted EBITDA was $36 million, a 44% increase from $25 million in the previous year, with an adjusted EBITDA margin of 16.8%, up 490 basis points [4][15] - Net income reached $24 million, compared to $12 million in Q1 2024, marking a 96% increase, with diluted earnings per share of $0.14, up 99% [4][15] Operational Highlights - Operating expenses decreased by 7% year-on-year to $118 million, driven by effective cost management [5][6] - Free Cash Flow (FCF) for the trailing twelve months was $162 million, representing 120% of adjusted net income, with Q1 2025 FCF of $38 million, a 297% increase from $10 million in Q1 2024 [4][15] - The company repurchased $102 million of its common stock during the quarter, the highest amount since Q1 2022 [5][15] Market and Business Insights - Revenue growth was primarily driven by strong performance in the Logistics and Semiconductor sectors, while the Automotive market faced a downturn [3][6] - The company anticipates mitigating the direct cost impact of tariffs in 2025, with no material impact on earnings per share expected [3][5] - Cognex will host an Investor Day on June 10, 2025, to discuss its strategic objectives and financial framework [12][16] Leadership Transition - Matt Moschner will succeed Robert J. Willett as CEO on June 27, 2025, following a multi-year succession planning process [2][3] - Willett, who has been with Cognex since 2010, will continue to serve on the Board of Directors [2][3]