Cognex(US:CGNX)2025-06-10 11:05Company Overview - Cognex's 2024 revenue was $915 million[14] - The company's adjusted EBITDA margin historical average is 28% over 10 years[14] - The company has issued and pending approximately 1,400 patents[14] - Cognex estimates the served machine vision market to be approximately $7 billion in 2024[43, 44] Strategic Objectives and Financial Targets - The company aims for a revenue CAGR of 13%-14%, including 3% inorganic growth[65, 186] - Cognex targets an adjusted EBITDA margin between 20% and 30%[67, 187] - The company aims for a free cash flow conversion rate exceeding 100%[68, 189] Market Dynamics and Growth - The machine vision market is expected to grow at a CAGR of approximately 10%-11% through the cycle[34, 41, 195, 216] - Moritex contributed 8% to Cognex's top-line growth in 2024[19] - The company aims to double the number of served customers over the next five years[60, 62, 140, 167]