Cognex Corp at KeyBanc Technology Forum Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ethan Chung - KeyBanc Technology Forum - Analyst : That's great. And so maybe just to kick things off on my end, you guys just reported earnings a few weeks ago and commentary around positive improving trends within factory automation and e-commerce logistics looks pretty good. Investors clearly seem to like it with the stock up 20% on the day. But can you talk a little bit more about what you're seeing in your end markets and what's driving visibility into the third quarter and second half of this year?

Question: Ethan Chung - KeyBanc Technology Forum - Analyst : That's great. And then you touched on it a little bit, but maybe on the margin side of things. It was pretty good to see you guys have EBITDA start trending towards that 20% you guys had outlined earlier. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 11, 2025 / 7:30PM, CGNX.OQ - Cognex Corp at KeyBanc Technology Forum Can you help me understand what sort of initiatives are in place right now and how much of it is more structural as opposed to just flexing what the company's needs at the moment?

Question: Ethan Chung - KeyBanc Technology Forum - Analyst : That's great. And then you said you just had your company's first analyst day, which is very exciting. You and Matt talked a little more constructively about M&A. As a Pillar of the long term growth strategy, I guess maybe can you touch a little bit more about what sort of targets you guys are looking at maybe say higher margin software as opposed to hardware like Vortex or what that might look like and then just overall what's the shift behind the strategy?

Question: Ethan Chung - KeyBanc Technology Forum - Analyst : That that's more helpful. Maybe on the first two pillars that you kind of mentioned on the organic side of things, you guys recently announced OneVision, which is a very exciting product. Maybe for people who don't know, could you explain what that is and then maybe who you're kind of seeing the most traction with in terms of what types of customers are maybe adopting one vision.

Question: Ethan Chung - KeyBanc Technology Forum - Analyst : And so maybe help me understand, is it at the moment are you seeing more traction with those customers that maybe have it easier to scale or is it the customers that have more complex techniques?

Question: Ethan Chung - KeyBanc Technology Forum - Analyst : Clearly got it. And then maybe on the longer term view of things when we think about AI becoming more democratized and processing becoming more available, obviously you guys have positioned yourself well within the machine vision space. Are you are you guys concerned that any smaller players may be adopting technology at a faster rate and just the accessibility to computing power maybe that becomes a threat at some point?

Question: Ethan Chung - KeyBanc Technology Forum - Analyst : And as you guys look to maybe fulfill this demand. You guys recently announced a new leadership team to help increase sales and growth and innovation. So you're a part of that. So I guess maybe from your perspective what's kind of the most exciting thing that you want to see in the next few months from this group.

Question: Ethan Chung - KeyBanc Technology Forum - Analyst : It's very exciting. It's great to hear you guys are all focused from the top of the all the way down. Maybe touch on the emerging customer initiative. I know that's kind of a big point for you guys and I know that the second cohort is probably ramping about now, so maybe. Just how they're progressing and what makes you success or makes you confident the success for the Cognex.

Question: Ethan Chung - KeyBanc Technology Forum - Analyst : Yeah, it's all been very helpful and I know we're kind of up on time here. So, Dennis, I appreciate the time today. It's been great.