Cognex (CGNX) Q4 2025 Earnings
How Did CGNX Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −1.54%.
Did CGNX Beat Earnings? Q4 2025 Results
Yes. Cognex reported Q4 2025 earnings of $0.27 a share on Feb 11, 2026, beating the $0.22 consensus estimate by 22.7%. Revenue was $252.3M against a $238.5M estimate.
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.
- 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
“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.”
Cognex CEO, on the earnings call
What Was Cognex's Outlook in Q4 2025?
For Q1 2026, Cognex guided revenue of $235 million to $255 million, representing approximately 13% year-over-year growth at midpoint. Adjusted EBITDA margin is expected to be 19.0% to 22.0%, up 370 basis points year over year at midpoint. Adjusted diluted EPS is guided at $0.22 to $0.26, representing approximately 50% year-over-year growth at midpoint. The company is targeting a 25% Adjusted EBITDA margin on a run-rate basis by end of 2026, and expects to deliver an additional $35 to $40 million in annualized cost reductions by end of 2026. The company is also exiting approximately $22 million of non-core, no-growth or low-margin revenue to improve focus and mix.
CGNX YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $252.3M | $229.7M | +9.9% |
| Gross Profit | $165.9M | $157.9M | +5.1% |
| Operating Income | $35.3M | $30.8M | +14.4% |
| Net Income | $32.7M | $28.3M | +15.2% |
Figures from SEC filings and company reports. Not investment advice.