Q1 26 EPS
$0.34
BEAT +36.00%
Est. $0.25
Q1 26 Revenue
$268.4M
BEAT +9.10%
Est. $246.1M
vs S&P Since Q1 26
+7.8%
BEATING MARKET
CGNX +8.0% vs S&P +0.2%
Market Reaction
Did CGNX Beat Earnings? Q1 2026 Results
Cognex Corporation delivered a standout first quarter for fiscal 2026, beating Wall Street expectations on both the top and bottom lines and extending its consecutive EPS beat streak to four quarters. The machine vision specialist posted revenue of $… Read more Cognex Corporation delivered a standout first quarter for fiscal 2026, beating Wall Street expectations on both the top and bottom lines and extending its consecutive EPS beat streak to four quarters. The machine vision specialist posted revenue of $268.44 million, up 24.3% year over year and 9.10% ahead of the $246.05 million consensus, while adjusted diluted EPS of $0.34 cleared the $0.25 estimate by 37.04%. The outperformance was anchored by broad-based end-market strength and a sharp gross margin expansion to 71.1% from 66.8% a year ago, reflecting favorable product mix and volume leverage. Cognex also advanced its AI-powered product strategy during the quarter, launching two new edge vision platforms, including a system powered by NVIDIA technology, signaling a deliberate push to deepen its competitive position in industrial automation. Looking ahead, management guided Q2 2026 revenue of $280 million to $300 million and adjusted EPS of $0.40 to $0.44, implying continued double-digit year-over-year growth as the company's margin recovery trajectory holds firm.
Key Takeaways
- • Broad-based strength across major end markets drove 24% YoY revenue growth
- • Favorable mix and volume drove gross margin expansion of 420 basis points (adjusted)
- • Disciplined cost management limited constant-currency adjusted operating expense growth to 4%
- • Revenue growth and favorable mix drove 1,010 basis points of adjusted EBITDA margin expansion
CGNX Forward Guidance & Outlook
For Q2 2026, Cognex guided revenue of $280 million to $300 million, representing approximately 16.5% year-over-year growth at the midpoint versus Q2 2025 revenue of $249 million. Adjusted EBITDA margin is expected to be 28% to 31%, compared to 20.7% in Q2 2025, implying continued significant margin expansion of approximately 880 basis points at the midpoint. Adjusted diluted EPS is guided at $0.40 to $0.44, compared to $0.25 in Q2 2025, representing approximately 68% year-over-year growth at the midpoint.
CGNX YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
“Since the CEO transition was announced a year ago, we've moved with urgency to focus our strategy, strengthen execution, and position Cognex for sustainable, profitable growth. This was evident in Q1, highlighted by the launch of two breakthrough AI vision systems, the completion of the trading business divestiture and continued execution toward our announced cost reduction target. We believe that this progress is clearly reflected in our Q1 results, with an exceptional start to the year and broad-based outperformance during the quarter.”
— Matt Moschner, Q1 2026 Earnings Press Release
CGNX Earnings Trends
CGNX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CGNX EPS Trend
Earnings per share: estimate vs actual
CGNX Revenue Trend
Quarterly revenue: estimate vs actual
CGNX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.25 | $0.34 | +36.00% | $268.4M | +9.10% |
| Q4 25 BEAT FY | $0.22 | $0.27 | +22.73% | $252.3M | +5.80% |
| FY Full Year | $0.96 | $1.02 | +6.00% | $994.4M | +1.41% |
| Q3 25 BEAT | $0.29 | $0.33 | +13.79% | $276.9M | +5.73% |
| Q2 25 BEAT | $0.23 | $0.24 | +4.35% | $249.1M | +1.21% |
| Q1 25 BEAT | $0.13 | $0.16 | +23.08% | $216.0M | +1.77% |