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Cognex (CGNX) Q1 2026 earnings results (first quarter 2026)

10-Q filed May 7, 2026

Cognex (CGNX) reported revenue of $268M for the first quarter 2026 (Q1 2026), +24% from a year earlier and +6% from the quarter before. Operating margin was 22.3%, net earnings $51.7M (19.3% of revenue).

Revenue$268M
Year over year+24%
Quarter over quarter+6%
Operating margin22.3%
Net earnings$51.7M

Cognex, Q1 2026: revenue $268M (+24% year over year), operating margin 22.3%, net earnings $51.7M, operating cash flow $45.1M. The chart follows the revenue to costs, profit and cash.

Q1 2026AmountQ/QY/Y
Revenue$268M+6%+24%
Gross profit$191M+15%+32%
Operating profit$59.9M+70%+129%
Net earnings$51.7M+58%+119%
Operating cash flow$45.1M-40%+11%
Free cash flow$42.3M-41%+11%

What changed

Revenue was $268.4M in Q1 2026, up 24% year over year and up 6% from the previous quarter. Standard products and services was the largest line at 95% of revenue. Standard products and services added $49.9M year over year (up 24%), 95% of the total change.

Gross margin was 71.1%, up 4.3 points from Q1 2025. Operating profit was $59.9M, a 22.3% margin (up 10.2 points year over year). Of the extra revenue versus Q1 2025, 64% reached operating profit, above the 12% margin then. Operating expenses grew 11% against revenue growth of 24%. The fastest-growing cost line was SG&A (+13%). Net earnings were $51.7M, up 119% year over year. The effective tax rate was 16.3%.

Operating cash flow was $45.1M (up 11% year over year), 87% of net earnings. Non-cash charges added back $7.2M of depreciation and amortization and $11.9M of share-based compensation. Working capital and other items used $25.8M. Capital expenditures of $2.8M left free cash flow of $42.3M.

Questions

What was Cognex's revenue in the first quarter 2026?

Cognex (CGNX) reported revenue of $268M for the first quarter 2026 (Q1 2026), +24% from a year earlier and +6% from the quarter before.

Was Cognex profitable in the first quarter 2026?

Operating profit was $59.9M (22.3% of revenue) and net earnings $51.7M.

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Source: Cognex 10-Q on SEC EDGAR.