CGNX FY 2022 Earnings Report — Cognex Corporation Revenue & Financial Results | Market Cap Arena

Cognex CorporationCGNX

FY 2022 Earnings

Reported February 16, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$1.0B	—	$1.0B	—	-3.0%
Op. Income	$246M	—	$315M	—	-21.9%
Gross Margin	71.8%	—	73.3%	—	-1.5pp
Net Margin	21.4%	—	27.0%	—	-5.6pp
EPS (Diluted)	$1.23	—	$1.56	—	-21.2%
Free Cash Flow	$224M	—	$299M	—	-25.1%

Revenue Flow

Item	Amount
REVENUE	$1.0B
Cost of Revenue	$284M
GROSS PROFIT	$722M
R&D Expenses	$141M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$312M
Other Expenses	$22M
Operating Expenses	$476M
Cost & Expenses	$760M
OPERATING INCOME	$246M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$4M
INCOME BEFORE TAX	$251M
Income Tax Expense	$35M
Net Income from Continuing Ops	$216M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$216M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$216M
D&A	$20M
EBIT	$269M
EBITDA	$288M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.0B
Cost of Revenue	$284M
GROSS PROFIT	$722M
R&D Expenses	$141M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$312M
Other Expenses	$22M
Operating Expenses	$476M
Cost & Expenses	$760M
OPERATING INCOME	$246M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$4M
INCOME BEFORE TAX	$251M
Income Tax Expense	$35M
Net Income from Continuing Ops	$216M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$216M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$216M
D&A	$20M
EBIT	$269M
EBITDA	$288M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$216M
Depreciation & Amortization	$20M
Stock-Based Compensation	$55M
Deferred Income Tax	-$27M
Other Non-Cash Items	$55M
Change in Working Capital	-$74M
OPERATING CASH FLOW	$243M
Capital Expenditure	-$20M
Acquisitions (Net)	-$5M
Purchases of Investments	-$234M
Sales/Maturities of Investments	$254M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$4M
Net Debt Issuance	$0
Common Stock Repurchased	-$204M
Common Dividends Paid	-$46M
Other Financing Activities	$10M
NET CASH FROM FINANCING	-$240M
FREE CASH FLOW	$224M
Net Change in Cash	-$5M

Balance Sheet

Item	Amount
Cash & Equivalents	$181M
Short-Term Investments	$219M
Net Receivables	$128M
Inventory	$122M
Other Current Assets	$67M
TOTAL CURRENT ASSETS	$718M
PP&E (Net)	$117M
Goodwill	$243M
Intangible Assets	$12M
Long-Term Investments	$454M
Tax Assets	$407M
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$2.0B
Account Payables	$27M
Short-Term Debt	$0
Deferred Revenue	$41M
Other Current Liabilities	$49M
TOTAL CURRENT LIABILITIES	$188M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$266M
Other Non-Current Liabilities	$35M
TOTAL NON-CURRENT LIABILITIES	$332M
TOTAL LIABILITIES	$520M
Common Stock	$345.0K
Additional Paid-In Capital	$979M
Retained Earnings	$528M
Treasury Stock	$0
Accum. Other Comp. Income	-$69M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$2.0B
Total Debt	$40M
Net Debt	-$142M