Q1 25 EPS
$0.16
BEAT +23.08%
Est. $0.13
Q1 25 Revenue
$216.0M
BEAT +1.77%
Est. $212.3M
vs S&P Since Q1 25
+103.7%
BEATING MARKET
CGNX +135.0% vs S&P +31.3%
Market Reaction
Did CGNX Beat Earnings? Q1 2025 Results
Cognex opened 2025 on a stronger-than-expected footing, delivering a first-quarter beat on both revenue and earnings while simultaneously navigating a leadership transition that will reshape the company's direction heading into mid-year. Revenue rose… Read more Cognex opened 2025 on a stronger-than-expected footing, delivering a first-quarter beat on both revenue and earnings while simultaneously navigating a leadership transition that will reshape the company's direction heading into mid-year. Revenue rose 2.5% year-on-year to $216.04 million, edging past the $212.28 million consensus by 1.77%, as continued momentum in Logistics and Semiconductor end markets offset a persistent drag from Automotive. The more compelling story was on the bottom line, where adjusted EPS of $0.16 cleared the $0.13 consensus by 20.39%, powered by a 540 basis point expansion in operating margin to 12.1% and a 7% decline in operating expenses driven by lower headcount and disciplined cost management. Free cash flow surged to $38.00 million from $9.58 million a year ago, and the company returned $116.00 million to shareholders in the quarter. Looking ahead, Cognex guided Q2 revenue of $235.00 million to $255.00 million and expects to substantially mitigate direct tariff costs with no material EPS impact for the remainder of 2025, even as COO Matt Moschner prepares to succeed longtime CEO Robert Willett in late June.
Key Takeaways
- • Strength in Logistics and Semiconductor businesses drove year-on-year revenue growth
- • Operating expenses declined 7% YoY driven by lower headcount, tight cost management, lower stock expense, and FX
- • Adjusted EBITDA margin of 16.8% exceeded high end of guidance
- • Free cash flow conversion rate of 140% of adjusted net income
- • Broader Factory Automation revenue remained stable
CGNX YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
“Reflecting on my 17-year tenure at Cognex, I am extremely proud of what we have accomplished as a team, increasing revenue fivefold to over $900 million in 2024, driven by an unwavering dedication to innovation and excellence. This transition is the product of a thoughtful, multi-year succession planning process with our Board of Directors to prepare for my retirement. Since joining Cognex in 2017, Matt has successfully navigated a range of challenges and growth opportunities, which proved his readiness to assume the CEO role. Matt is absolutely the right person to lead our company through the next phase of growth.”
— Robert J. Willett, Q1 2025 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% |