Cognex Corporation (NASDAQ: CGNX) reported its financial results for the first quarter of 2026, ending March 29, 2026. Revenue was $197 million, a decrease of 12% compared to $224 million in the same quarter of 2025. Net income for the quarter was $28 million, or $0.16 per diluted share, compared to $37 million, or $0.21 per diluted share, in Q1 2025.
The company attributed the decline to lower demand in the logistics and automotive sectors, partially offset by growth in semiconductor and electronics manufacturing. Gross margin was 72%, down from 74% in the prior year quarter, due to product mix and higher costs.
Operating income was $35 million, compared to $47 million in Q1 2025. Cash and investments totaled $1.2 billion as of March 29, 2026. Cognex did not provide specific guidance for Q2 2026 due to ongoing macroeconomic uncertainty.
CEO Robert Willett stated, 'Our first quarter results reflect a challenging demand environment, but we continue to invest in new product development and market expansion. We remain confident in the long-term growth opportunities for machine vision.'
