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# Cognex Hits Record $313 Million Quarter, Lifts 2026 Outlook And Agrees To Buy RealSense For Cash
- URL: https://www.bullished.co/cognex-hits-record-313-million-quarter-lifts-2026-outlook-and-agrees-to-buy-realsense-for-002b1c29/
- Published: 2026-11-04T21:57:38.000Z
- Updated: 2026-11-04T21:57:38.000Z
- Description: The machine vision maker's third-quarter operating income rose 74% to $101 million, and the all-cash RealSense deal is expected to close in the fourth quarter.
- Author: Matteo Parrino
- Tags: Deals, CGNX, Industry: Technology

Cognex, which makes machine vision systems for factory lines and distribution centers, posted record third-quarter revenue of [$313 million](https://www.sec.gov/Archives/edgar/data/0000851205/000085120526000079/a10042026-xex991xq32026ear.htm?ref=bullished.co), up 13% from a year earlier, and raised its 2026 forecast. The company also agreed to buy RealSense, a depth-camera maker, in an all-cash deal it expects to close in the fourth quarter, according to its [8-K](https://www.sec.gov/Archives/edgar/data/0000851205/000085120526000079/cgnx-20261104.htm?ref=bullished.co) filed Wednesday.

## Profit grows faster than sales

Excluding a one-time benefit in the year-earlier quarter from a commercial partnership with a medical lab automation channel partner, revenue grew 19%. Operating income reached [$101 million](https://www.prnewswire.com/news-releases/cognex-reports-third-quarter-2026-results-302929644.html?ref=bullished.co), up 74%, for a 32.2% operating margin versus 20.9% a year earlier.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, with adjustments) was [$111 million](https://www.prnewswire.com/news-releases/cognex-reports-third-quarter-2026-results-302929644.html?ref=bullished.co), a 35.5% margin, up 1,060 basis points. Excluding the partnership benefit, that margin widened 1,340 basis points, which the company called the ninth consecutive quarter of margin expansion.

Net income per diluted share was $0.50 against $0.10 a year earlier. Adjusted earnings per share were $0.53, up 61%, or 89% excluding the partnership benefit. Gross margin rose to 70.8% from 67.6%, which Cognex credited to favorable mix, higher volume and faster-than-expected pricing, more than offsetting higher memory costs. Operating expenses fell 7% to $121 million.

CEO Matt Moschner said the results reflect "strong execution across the business."

## Higher guidance and a cash purchase

Full-year revenue guidance rose to $1,143 million-$1,163 million from $1,130 million-$1,150 million. Adjusted earnings per share guidance moved to $1.68-$1.72 from $1.64-$1.68\. For the fourth quarter, Cognex guided to revenue of $270 million-$290 million and adjusted earnings per share of $0.37-$0.41.

RealSense, Inc. makes depth-sensing cameras and vision technology for robotic perception and physical artificial intelligence. Cognex sold investments, mostly corporate bonds, in the quarter at a $2.4 million pre-tax loss, and says those proceeds plus existing cash are meant to fund the purchase.

Cognex ended the quarter with $846 million in cash and investments and no debt. It generated $106 million of operating cash flow and $104 million of free cash flow in the quarter.

## Dividend and the call

The board declared a quarterly dividend of $0.09 per share, up from $0.085 in the prior quarter, payable December 3 to holders of record on November 19.

Cognex also launched the In-Sight 1750, a wafer and panel identification system for the semiconductor industry, and plans a 2027 Investor Day in June at its Natick, Massachusetts headquarters.

Cognex holds its earnings call Thursday at 8:30 a.m. Eastern.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — COGNEX CORP (CGNX)](https://www.sec.gov/Archives/edgar/data/0000851205/000085120526000079/cgnx-20261104.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit a10042026-xex991xq32026ear.htm — COGNEX CORP 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000851205/000085120526000079/a10042026-xex991xq32026ear.htm?ref=bullished.co) — SEC EDGAR
- [Cognex Reports Third Quarter 2026 Results](https://www.prnewswire.com/news-releases/cognex-reports-third-quarter-2026-results-302929644.html?ref=bullished.co) — prnewswire.com