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Cognex Corp Expects Q1 Revenue of $190M-$205M Vs $211.56M Est

Author: Benzinga Newsdesk | February 15, 2024 07:09am

Financial Outlook – Q1 2024

Cognex expects revenue to be between $190 million and $205 million. This range is narrower than our typical $20 million range as we expect to see another quarter with a challenging, yet relatively stable operating environment. We expect Moritex to contribute 6-8% of revenue.
Adjusted gross margin1 is expected to be in the high-60% range and reflects the expected impact of de-leverage from softer revenue, negative revenue mix, an approximately 2 percentage point drag from a full-quarter of Moritex, and a 2 percentage point drag from a strategic logistics project that is expected to drive longer-term, high-margin subscription revenue.
Adjusted operating expense1 is expected to increase mid-single-digits on a sequential basis due to investment in the Emerging Customer initiative, higher incentive compensation, and the impact of a full quarter of Moritex operations.
The adjusted effective tax rate1 is expected to be 16%.

Posted In: CGNX