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Cognex

CGNX Q4 2025 Earnings

Reported Feb 11, 2026 at 4:31 PM ET · SEC Source

Q4 25 EPS

$0.27

BEAT +22.73%

Est. $0.22

Q4 25 Revenue

$252.3M

BEAT +5.80%

Est. $238.5M

vs S&P Since Q4 25

+11.0%

BEATING MARKET

CGNX +18.6% vs S&P +7.6%

Full Year 2025 Results

FY 25 EPS

$1.02

BEAT +6.00%

Est. $0.96

FY 25 Revenue

$994.4M

BEAT +1.41%

Est. $980.5M

Market Reaction

Did CGNX Beat Earnings? Q4 2025 Results

Cognex delivered a strong finish to fiscal 2025, posting Q4 revenue of $252.34 million, up 9.9% year over year and ahead of the $238.51 million consensus by 5.80%, while adjusted diluted EPS of $0.27 beat the $0.22 estimate by 22.34%, marking the six… Read more Cognex delivered a strong finish to fiscal 2025, posting Q4 revenue of $252.34 million, up 9.9% year over year and ahead of the $238.51 million consensus by 5.80%, while adjusted diluted EPS of $0.27 beat the $0.22 estimate by 22.34%, marking the sixth consecutive quarter of double-digit EPS growth. The outperformance was driven by a surge in year-end Factory Automation spending and steady Logistics demand, which together lifted adjusted gross margin 220 basis points to 71.6% and pushed adjusted EBITDA margin to 22.7%, up 420 basis points year over year. CEO Matt Moschner's portfolio review added strategic clarity, with Cognex electing to exit roughly $22.00 million in non-core, low-margin revenue to sharpen focus and improve mix going forward. Analysts have responded by raising forward estimates, reflecting optimism around the company's path to a 25% adjusted EBITDA margin run rate by end of 2026. For Q1 2026, management guided revenue of $235.00 million to $255.00 million, implying approximately 13% year-over-year growth at the midpoint, with adjusted EPS of $0.22 to $0.26.

Key Takeaways

  • • Increased year-end spending across Factory Automation end markets
  • • Steady growth in Logistics
  • • Revenue growth and disciplined cost management drove Adjusted EBITDA margin expansion of 420 bps year over year in Q4
  • • Adjusted gross margin improved 220 bps driven by volume and favorable mix
  • • Constant-currency adjusted operating expenses increased only 2% year over year
  • • Sixth consecutive quarter of year-over-year Adjusted EBITDA margin expansion
  • • Sixth consecutive quarter of double-digit year-over-year adjusted EPS growth
24/7 Wall St

CGNX YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

“2025 marked a return to profitable growth for Cognex, with constant-currency revenue growth of 8% and adjusted EPS growth of 38%. We made significant progress against each of our strategic objectives, including advancing our technology leadership in AI-enabled industrial machine vision, raising the bar on our end-to-end customer experience, and making steady progress toward our customer growth objective.”

— Matt Moschner, Q4 2025 Earnings Press Release

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