Cognex
25 named things its latest annual report says its results depend on, each in the company's own words. 18 of them are also named by other companies we've read.
Customers
Logistics, packaging, consumer electronics and automotive industries
concentrated in · approximately 85% of our total revenueOur largest end markets by revenue are the logistics, packaging, consumer electronics, and automotive industries, which combined represented approximately 85% of our total revenue in 2025.Business (Item 1)
Automotive industry
earns fromnamed as a riskWe observed the automotive market continue to experience significant headwinds in 2025, driven in part by geopolitical and trade uncertainty.Business (Item 1)
Large customer (unnamed)
earns fromnamed as a riskAt different times over the past few years, we have had one customer that represented a material portion of our total revenue.Risk factors (Item 1A)
Consumer electronics industry
earns fromnamed as a riskFor example, the consumer electronics industry is particularly volatile, making demand difficult to anticipate, which exposes us to increased risk of excess and obsolete inventory and resulting charges.Risk factors (Item 1A)
Suppliers
Single-source components
depends onnamed as a riskCertain Cognex products utilize components that are available from only one source.Risk factors (Item 1A)
Also named by JBL
Other companies
Moritex Corporation
approximately $81 million in acquired intangible assetsnamed as a riskThe majority of these intangible assets were recorded in 2023 when Cognex acquired Moritex.Risk factors (Item 1A)
Places
Greater China
earns from · approximately 16%named as a riskSales to customers based outside of the United States represented approximately 67% of our total revenue in 2025, with approximately 25% from customers based in Europe, approximately 16% from customers based in Greater China, and approximately 26% from customers based in other regions outside the United States.Business (Item 1)
Europe
earns from · approximately 25%Sales to customers based outside of the United States represented approximately 67% of our total revenue in 2025, with approximately 25% from customers based in Europe, approximately 16% from customers based in Greater China, and approximately 26% from customers based in other regions outside the United States.Business (Item 1)
Also named by ADSK, AME, AMRC, ATR, BCSF, BKNG, BMI, BMY and 60 more
Taiwan
depends onnamed as a riskAn escalation of the China-Taiwan conflict could lead to challenges procuring integrated circuit chips from Taiwan-based vendors that are fundamental to the design of our products.Risk factors (Item 1A)
Also named by AAOI, AAPL, AB, ADI, AEHR, ALAB, AMAT, AMD and 50 more
China
operates innamed as a riskWith the acquisition of Moritex, we began in-house manufacturing of optical components, such as lenses and lighting, in production plants located in China and Vietnam.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Vietnam
operates innamed as a riskCognex manufactures optical components, including our lenses and lighting, at our in-house production plants located in China and Vietnam that are then stocked in our distribution centers in the United States, Europe, and Asia.Business (Item 1)
Also named by AAPL, AMKR, ANET, ASO, BBW, CIEN, CROX, CSW and 16 more
Hazards
Earthquakes
operates innamed as a riskCertain facets of our business operations, such as our third-party primary contractor manufacturers in Indonesia and Malaysia, are in locations that may be more prone to earthquakes and other natural disasters.Risk factors (Item 1A)
Also named by AAPL, AMKR, AN, ANET, APP, BRO, CDNS, CEG and 37 more
Commodities and inputs
Euro
exposed to its price · approximately 50% of our sales in 2025 were invoiced in currencies other than the U.S. Dollarnamed as a riskIn addition to the U.S. Dollar, a significant portion of our revenues and expenses are denominated in the Euro and Chinese Renminbi, and to a lesser extent the Japanese Yen, Korean Won, Indian Rupee, and Mexican Peso.Market risk (Item 7A)
Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more
Chinese Renminbi
exposed to its pricenamed as a riskIn addition to the U.S. Dollar, a significant portion of our revenues and expenses are denominated in the Euro and Chinese Renminbi, and to a lesser extent the Japanese Yen, Korean Won, Indian Rupee, and Mexican Peso.Market risk (Item 7A)
Also named by AAOI, ALB, AOS, APD, BBW, BWA, COHR, DD and 15 more
Integrated circuit chips
depends onnamed as a riskCertain key electronic and mechanical components, such as integrated circuit chips, are fundamental to the design of Cognex products.Risk factors (Item 1A)
Regulators
U.S. Bureau of Industry and Security export controls
subject tonamed as a riskIn addition to trade tariffs, U.S. export controls that place restrictions on the exportation of our products or a subset of our products, including applicable regulations promulgated by the U.S. Commerce Department’s Bureau of Industry and Security, have had a negative impact on our revenue from customers based in China.Risk factors (Item 1A)
Laws and programs
EU AI Act
subject tonamed as a riskAI technologies are increasingly subject to regulatory scrutiny in the United States and internationally, including under emerging frameworks such as the European Union’s AI Act, which may impose requirements related to transparency, bias mitigation, data governance, and ethical deployment.Risk factors (Item 1A)
Also named by ACN, ADBE, AMD, AXON, CRM, CRWD, CTSH, DOCN and 36 more
U.S. tariffs on Chinese imports
subject tonamed as a riskFurthermore, in recent years, trade tariffs imposed by the United States on certain components imported from Chinese suppliers resulted in higher costs for our products, which, to date, have not been material to our total cost of revenue.Risk factors (Item 1A)
EU NIS2 Directive
subject tonamed as a riskRegions and countries are introducing new laws and regulations regarding the cybersecurity of the products being sold in their markets, such as the European Union's Cyber Resilience Act and Network and Information Systems Directive 2, a European Union regulation aimed at strengthening cybersecurity across member states.Risk factors (Item 1A)
EU Cyber Resilience Act
subject tonamed as a riskRegions and countries are introducing new laws and regulations regarding the cybersecurity of the products being sold in their markets, such as the European Union's Cyber Resilience Act and Network and Information Systems Directive 2, a European Union regulation aimed at strengthening cybersecurity across member states.Risk factors (Item 1A)
U.S. sanctions on Chinese semiconductor companies
subject tonamed as a riskThe recent expansion of U.S. sanctions on Chinese companies, including expanded restrictions with respect to Chinese semiconductor companies, has heightened the risks and complexities for U.S. companies conducting business in China.Risk factors (Item 1A)
OECD Inclusive Framework (Pillar Two)
subject tonamed as a riskFor example, many countries have adopted, or are considering the adoption of, revisions to their respective tax laws based on the Organization for Economic Co-operation and Development’s (“OECD”) Inclusive Framework, which could impact our tax liability due to our organizational structure and significant operations outside of the United States.Risk factors (Item 1A)