Filing Flows › Cognex (CGNX) › Q2 2026 › vs Q1 2026
Cognex (CGNX) Q2 2026 vs Q1 2026 (quarter over quarter)
Cognex's revenue rose $22.8M (+9%) from $268M in Q1 2026 to $291M in Q2 2026. The biggest changes: Application-specific customer solutions +$30.2M (+215%); Standard products and services −$7.3M (-3%). Gross margin 70.6% against 71.1% (-0.5 pts).
Cognex, Q2 2026: revenue $291M (+17% year over year), operating margin 29.4%, net earnings $72.8M, operating cash flow $69.2M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 70.6% | 71.1% | -0.5 pts |
| Operating margin | 29.4% | 22.3% | +7.1 pts |
| Net margin | 25.0% | 19.3% | +5.7 pts |
| Free cash flow margin | 23.2% | 15.8% | +7.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Standard products and services | $247M | $254M | −$7.3M | -3% |
| Application-specific customer solutions | $44.2M | $14.0M | $30.2M | +215% |
| Revenue | $291M | $268M | $22.8M | +9% |
| Gross profit | $206M | $191M | $14.8M | +8% |
| Cost of revenue | $85.5M | $77.5M | $8.0M | +10% |
| Other income, net | $3.8M | $1.9M | $1.9M | +101% |
| Operating profit | $85.5M | $59.9M | $25.6M | +43% |
| Operating expenses | $120M | $131M | −$10.8M | -8% |
| Pre-tax earnings | $89.3M | $61.8M | $27.5M | +45% |
| Research & development | $32.4M | $37.0M | −$4.6M | -13% |
| SG&A | $87.9M | $94.0M | −$6.2M | -7% |
| Net earnings | $72.8M | $51.7M | $21.1M | +41% |
| Income tax | $16.5M | $10.1M | $6.5M | +65% |
| Depreciation & amortization | $6.9M | $7.2M | −$355K | -5% |
| Share-based compensation | $11.2M | $11.9M | −$721K | -6% |
| Working capital & other | $21.7M | $25.8M | −$4.1M | -16% |
| Operating cash flow | $69.2M | $45.1M | $24.1M | +53% |
| Free cash flow (OCF − capex) | $67.6M | $42.3M | $25.3M | +60% |
| Capital expenditures | $1.5M | $2.8M | −$1.2M | -44% |
Questions
How much did Cognex's revenue grow quarter over quarter in Q2 2026?
Cognex's revenue rose $22.8M (+9%) from $268M in Q1 2026 to $291M in Q2 2026.
What drove Cognex's revenue change in Q2 2026?
Application-specific customer solutions +$30.2M (+215%); Standard products and services −$7.3M (-3%).