Key Highlights

  • Adjusted EPS of USD 0.53 compares with a USD 0.52 estimate, while GAAP diluted EPS was USD 0.50.
  • Revenue of USD 313.39 million compares with an estimate of USD 313.62 million and USD 276.9 million last year.
  • Full-year Revenue guidance rose to USD 1,143 million to USD 1,163 million, from USD 1,130 million to USD 1,150 million.
  • Cash and investments were USD 846 million with no debt, and the quarterly Dividend rose to USD 0.09 per share.

Cognex Corporation (NASDAQ:CGNX) raised its full-year 2026 guidance alongside third quarter results, lifting its adjusted EPS range to USD 1.68 to USD 1.72 from USD 1.64 to USD 1.68. The machine vision company's quarter, which ended October 4, 2026, produced adjusted diluted EPS of USD 0.53 against an estimate of USD 0.52, and revenue of USD 313.39 million against an estimate of USD 313.62 million.

Guidance Detail for the Fourth Quarter and Full Year

For the fourth quarter, the company guided to revenue of USD 270 million to USD 290 million, an adjusted EBITDA Margin of 29% to 32% and adjusted diluted EPS of USD 0.37 to USD 0.41. Fourth quarter 2025 results were revenue of USD 252 million, an adjusted EBITDA margin of 22.7% and adjusted EPS of USD 0.27.

Full-year 2026 revenue is now guided to USD 1,143 million to USD 1,163 million, against a prior range of USD 1,130 million to USD 1,150 million. The adjusted EBITDA margin range is 31% to 32%, against a prior 29% to 31%. Full-year 2025 revenue was USD 994 million, with an adjusted EBITDA margin of 21.5% and adjusted EPS of USD 1.02.

The Quarter in Detail

Revenue compares with USD 276.9 million in the third quarter of 2025, which the company said included a one-time benefit from a commercial Partnership with a medical lab automation channel partner. The company described the quarter as a revenue record with growth across most major end markets. It said revenue was up 13% as reported and 19% excluding the partnership benefit.

Gross margin was 70.8% against 67.6%, which the company attributed to mix, Volume and pricing. Operating Income was USD 101 million, a margin of 32.2%, against USD 58 million and 20.9%.

Adjusted EBITDA was USD 111 million, a margin of 35.5% against 24.9%. Net Income was USD 84.8 million, or USD 0.50 per diluted share, against USD 17.7 million, or USD 0.10.

Acquisition, Product and Cash Detail

Cognex entered a definitive agreement to acquire RealSense, Inc., a maker of depth-sensing cameras and vision technology for robotic perception and physical artificial intelligence. The all-cash transaction is scheduled to close in the fourth quarter of 2026. CEO Matt Moschner said the deal broadens the company's long-term opportunity in automation, robotics and AI. The company also launched the In-Sight 1750, a wafer and panel identification system for the semiconductor industry.

Cash from Operating Activities was USD 106 million against USD 87 million, and free Cash Flow was USD 104 million against USD 86 million. Cash and cash equivalents were USD 694.7 million, and total cash and investments were USD 846 million with no debt.

The board declared a quarterly dividend of USD 0.09 per share, up from USD 0.085, payable December 3, 2026 to shareholders of record on November 19, 2026.

Guidance Versus Reported Results

Third quarter revenue of USD 313.39 million sits alongside fourth quarter guidance of USD 270 million to USD 290 million and full-year guidance of USD 1,143 million to USD 1,163 million. Third quarter adjusted EPS of USD 0.53 sits next to a full-year range of USD 1.68 to USD 1.72, and nine-month adjusted EPS was USD 1.31.

Management named the RealSense closing in the fourth quarter of 2026, the conference call on November 5, 2026, the December 3 dividend payment and a 2027 Investor Day in June at the Natick, Massachusetts headquarters. The CFO said the Balance Sheet leaves flexibility for organic and acquisition-led investment.