$CGNX

COGNEX CORP

CIK:0000851205|SEC Filings

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2026	Jun. 29, 2025	Jul. 05, 2026	Jun. 29, 2025
Income Statement [Abstract]
Revenue	$ 291,263	$ 249,093	$ 559,700	$ 465,129
Cost of revenue	85,490	81,217	162,988	152,930
Gross profit	205,773	167,876	396,712	312,199
Research, development, and engineering expenses	32,391	33,102	69,416	67,829
Selling, general, and administrative expenses	87,865	91,341	181,906	174,845
Operating income	85,517	43,433	145,390	69,525
Foreign currency gain (loss)	(862)	(1,503)	(2,207)	(3,956)
Investment income	5,091	4,040	9,927	8,030
Other income (expense)	(446)	2,092	(2,053)	2,261
Income before income tax expense	89,300	48,062	151,057	75,860
Income tax expense	16,544	7,551	26,597	11,746
Net income	$ 72,756	$ 40,511	$ 124,460	$ 64,114
Net income per weighted-average common and common-equivalent share:
Basic (usd per share)	$ 0.43	$ 0.24	$ 0.75	$ 0.38
Diluted (usd per share)	$ 0.43	$ 0.24	$ 0.74	$ 0.38
Weighted-average common and common-equivalent shares outstanding:
Basic (shares)	167,346	167,886	166,921	168,568
Diluted (shares)	169,989	168,563	169,166	169,553
Cash dividends per common share (usd per share)	$ 0.085	$ 0.080	$ 0.170	$ 0.160

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 05, 2026	Jun. 29, 2025
Cash flows from operating activities:
Net income	$ 124,460	$ 64,114
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation expense	23,145	22,233
Depreciation of property, plant, and equipment	9,294	10,627
Amortization of intangible assets	4,821	5,306
Excess and obsolete inventory charges	1,121	710
Loss on sale of business, net of transaction costs	1,539	0
Deferred income taxes	5,096	(6,193)
Other adjustments	(673)	(362)
Accounts receivable	(68,496)	(38,132)
Unbilled revenue	4,326	901
Inventories	(7,715)	12,944
Prepaid expenses and other current assets	(14,937)	(2,364)
Accounts payable	14,809	3,575
Accrued expenses	(8,582)	2,340
Accrued income taxes	55	(20,602)
Deferred revenue and customer deposits	27,598	27,399
Other	(1,615)	631
Net cash provided by (used in) operating activities	114,246	83,127
Cash flows from investing activities:
Purchases of investments	(132,923)	(214,754)
Maturities and sales of investments	56,000	248,570
Net proceeds from sale of business, net of direct costs	11,519	0
Purchases of property, plant, and equipment, net of proceeds	(4,289)	(4,695)
Net cash provided by (used in) investing activities	(69,693)	29,121
Cash flows from financing activities:
Net payments from issuance of common stock under stock plans	132,698	(2,412)
Repurchase of common stock	(105,231)	(102,233)
Payment of excise tax on prior year common stock repurchases	(1,151)	0
Payment of dividends	(28,454)	(26,981)
Net cash provided by (used in) financing activities	(2,138)	(131,626)
Effect of foreign exchange rate changes on cash and cash equivalents	(2,819)	12,595
Net change in cash and cash equivalents	39,596	(6,783)
Cash and cash equivalents at beginning of period	262,925	186,094
Cash and cash equivalents at end of period	$ 302,521	$ 179,311

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 05, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 302,521	$ 262,925
Current investments	101,849	74,037
Accounts receivable, net of allowance for credit losses of $726 and $728 in 2026 and 2025, respectively	216,232	146,713
Unbilled revenue	12,684	16,980
Inventories	142,839	137,889
Prepaid expenses and other current assets	73,755	58,702
Total current assets	849,880	697,246
Non-current investments	350,643	305,339
Property, plant, and equipment, net	81,452	86,015
Operating lease assets	68,543	72,310
Goodwill	381,385	386,279
Intangible assets, net	64,464	81,100
Deferred income taxes	377,830	383,272
Other assets	4,453	4,994
Total assets	2,178,650	2,016,555
Current liabilities:
Accounts payable	65,060	50,203
Accrued expenses	80,586	91,397
Accrued income taxes	9,126	9,141
Deferred revenue and customer deposits	48,978	21,094
Operating lease liabilities	12,281	11,716
Total current liabilities	216,031	183,551
Non-current operating lease liabilities	60,196	64,870
Deferred income taxes	248,888	250,512
Reserve for income taxes	21,963	24,269
Other liabilities	2,017	1,452
Total liabilities	549,095	524,654
Commitments and Contingencies
Shareholders’ equity:
Preferred stock, $.01 par value – Authorized: 400 shares in 2026 and 2025, respectively; no shares issued and outstanding	0	0
Common stock, $.002 par value – Authorized: 300,000 shares in 2026 and 2025, respectively; issued and outstanding: 168,217 and 166,997 shares in 2026 and 2025, respectively	336	334
Additional paid-in capital	1,294,544	1,138,708
Retained earnings	397,135	406,355
Accumulated other comprehensive loss, net of tax	(62,460)	(53,496)
Total shareholders’ equity	1,629,555	1,491,901
Total liabilities and shareholders' equity	$ 2,178,650	$ 2,016,555