CGNX FY 2023 Earnings Report — Cognex Corporation Revenue & Financial Results | Market Cap Arena

Cognex CorporationCGNX

FY 2023 Earnings

Reported February 15, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$838M	—	$1.0B	—	-16.8%
Op. Income	$131M	—	$246M	—	-46.9%
Gross Margin	71.8%	—	71.8%	—	0.0pp
Net Margin	13.5%	—	21.4%	—	-7.9pp
EPS (Diluted)	$0.65	—	$1.23	—	-47.2%
Free Cash Flow	$90M	—	$224M	—	-59.8%

Revenue Flow

Item	Amount
REVENUE	$838M
Cost of Revenue	$236M
GROSS PROFIT	$601M
R&D Expenses	$139M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$339M
Other Expenses	-$8M
Operating Expenses	$471M
Cost & Expenses	$707M
OPERATING INCOME	$131M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$5M
INCOME BEFORE TAX	$135M
Income Tax Expense	$22M
Net Income from Continuing Ops	$113M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$113M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$113M
D&A	$22M
EBIT	$123M
EBITDA	$145M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$838M
Cost of Revenue	$236M
GROSS PROFIT	$601M
R&D Expenses	$139M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$339M
Other Expenses	-$8M
Operating Expenses	$471M
Cost & Expenses	$707M
OPERATING INCOME	$131M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$5M
INCOME BEFORE TAX	$135M
Income Tax Expense	$22M
Net Income from Continuing Ops	$113M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$113M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$113M
D&A	$22M
EBIT	$123M
EBITDA	$145M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$113M
Depreciation & Amortization	$22M
Stock-Based Compensation	$55M
Deferred Income Tax	-$20M
Other Non-Cash Items	$11M
Change in Working Capital	-$68M
OPERATING CASH FLOW	$113M
Capital Expenditure	-$23M
Acquisitions (Net)	-$257M
Purchases of Investments	-$184M
Sales/Maturities of Investments	$496M
Other Investing Activities	$0
NET CASH FROM INVESTING	$32M
Net Debt Issuance	$0
Common Stock Repurchased	-$80M
Common Dividends Paid	-$49M
Other Financing Activities	$3M
NET CASH FROM FINANCING	-$126M
FREE CASH FLOW	$90M
Net Change in Cash	$21M

Balance Sheet

Item	Amount
Cash & Equivalents	$203M
Short-Term Investments	$129M
Net Receivables	$117M
Inventory	$162M
Other Current Assets	$68M
TOTAL CURRENT ASSETS	$679M
PP&E (Net)	$181M
Goodwill	$393M
Intangible Assets	$113M
Long-Term Investments	$244M
Tax Assets	$400M
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$2.0B
Account Payables	$21M
Short-Term Debt	$0
Deferred Revenue	$32M
Other Current Liabilities	$28M
TOTAL CURRENT LIABILITIES	$152M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$274M
Other Non-Current Liabilities	$19M
TOTAL NON-CURRENT LIABILITIES	$361M
TOTAL LIABILITIES	$513M
Common Stock	$343.0K
Additional Paid-In Capital	$1.0B
Retained Earnings	$513M
Treasury Stock	$0
Accum. Other Comp. Income	-$45M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$0
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$2.0B
Total Debt	$79M
Net Debt	-$124M