EarningsQ2 2026 Earnings Report
MX:CGNX Q2 2026 EPS Results
Actual EPS$7.75
Consensus EPS$7.31
Beat/MissBeat by +$0.45
One Year Ago EPS$4.31
MX:CGNX Q2 2026 Revenue Results
Actual Revenue$5.02B
Expected Revenue$5.03B
Beat/MissMissed by -$14.37M
YoY Revenue Growth+16.93%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
MX:CGNX Upcoming Earnings
Cognex's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:CGNX Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial performance: record revenue, large margin expansion, substantial EPS and free-cash-flow gains, product innovation, customer additions, and raised guidance for key end markets. Headwinds were noted (Europe and automotive softness, memory-price-driven gross margin pressure, portfolio-driven revenue reductions, and some timing/comp comparability items), but management provided mitigation plans (pricing, cost reductions, channel and product actions) and retained confidence in the demand environment. Overall, positives materially outweigh the contained and manageable lowlights.Company Guidance
Record Quarterly Revenue and Strong Top-Line Growth
Revenue reached a record quarterly level, increasing 17% year-over-year (16% in constant currency). Q2 marked the eighth consecutive quarter of year-over-year revenue growth, and management raised full-year 2026 revenue guidance to $1.13–1.15 billion (~15% growth midpoint; ~16% excluding a prior one-time benefit).
Exceptional Margin Expansion and Profitability
Adjusted EBITDA margin expanded to 32.2% in Q2, up 1,150 basis points year-over-year and marking the eighth consecutive quarter of margin expansion. Adjusted gross margin improved 350 basis points to 71.5%.
Large EPS and Cash Flow Gains
Adjusted diluted EPS grew 80% year-over-year to $0.45 in Q2. Free cash flow for the quarter was $68 million (≈70% YoY growth) and trailing 12-month free cash flow conversion was 114%, meeting the >100% target for the seventh consecutive quarter.
Strong End-Market Performance: Semiconductor, Electronics, Logistics, Packaging
Semiconductor delivered strong double-digit revenue across all geographies and management increased its full-year semiconductor outlook to double-digit growth. Electronics and packaging also delivered double-digit growth (packaging excluding a divestiture). Logistics achieved its 10th consecutive quarter of double-digit growth.
Geographic Strength Led by China and Americas
China was the fastest-growing region with revenue up 42% YoY (40% YTD). Americas revenue grew 27% YoY with strength across end markets (still double-digit excluding a procurement re-routing effect). Other Asia grew 14%.
Customer Base Expansion and Product Innovation
Company added ~9,000 new customers in 2025 and ~4,500 new customers year-to-date in 2026, supporting diversification. Launched OneVision (GA) and multiple new products (In-sight 2800, Insight L38, Insight 3900, Insight 6900) to expand AI-enabled machine vision capabilities and address new use cases.
Operational Execution and Cost Actions
Adjusted operating expenses declined 3% YoY (5% in constant currency) in Q2 and management now expects approximately $35 million of annualized net cost reductions by end of 2026. Q2 showed ~100% revenue flow-through to the bottom line.
Confident Forward Guidance with Continued Margin Improvement
Q3 revenue guidance of $300–320 million (~12% growth midpoint; ~17% excl. prior one-time benefit) and Q3 adjusted EBITDA margin guidance of 32–35% (midpoint implies ~860 bps YoY expansion). Full-year adjusted EBITDA margin guidance raised to 29–31% (midpoint up ~850 bps YoY).
MX:CGNX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed