Cognex sees Q2 revenue $230M-$245M, consensus $235.11M

The company said, “Cognex expects revenue to be between $230 million and $245 million. This range represents a sequential increase in revenue from Q1-24 to Q2-24 due to typical seasonality of consumer electronics revenue. Adjusted gross margin1 is expected to be slightly above 70%, an increase from 68.8% in Q1-24 as we move beyond the one-time events in the first quarter. Adjusted operating expense1 is expected to increase by low- to mid-single digits on a sequential basis as we expect additional investment in the company’s Emerging Customer initiative. The adjusted effective tax rate1 is expected to be 16%.”