Cognex Corporation (NASDAQ:CGNX) Q2 2022 Earnings Conference Call August 2, 2022 5:00 PM ET

Company Participants

Susan Conway – Senior Director of Investor Relations

Rob Willett – President and Chief Executive Officer

Paul Todgham – Chief Financial Officer

Conference Call Participants

Joshua Pokrzywinski – Morgan Stanley

Joe Ritchie – Goldman Sachs

Rob Mason – Baird

Joe Giordano – Cowen

Jacob Levinson – Melius Research

Jim Ricchiuti – Needham & Co.

Andrew Buscaglia – Berenberg

Matt Summerville – D.A. Davidson

Operator

Greetings, and welcome to the Cognex' Second Quarter 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn this conference over to your host, Ms. Susan Conway, Senior Director of Investor Relations. Thank you, ma'am. You may begin.

Susan Conway

Thank you. Good evening, everyone. Welcome to our second quarter earnings conference call for 2022. With us are Rob Willett, Cognex' President and CEO, and Paul Todgham, our Chief Financial Officer.

I'd like to remind you that our earnings release and quarterly report on Form 10-Q are available in the Investor Relations section of our website at www.cognex.com/investor. Both contain detailed information about our financial results. During the call, we may use a non-GAAP financial measure if we believe it is useful to investors or if we think it will help them better understand our results or business trends. You can see a reconciliation of certain items from GAAP to non-GAAP in Exhibit 2 of the earnings release.

Any forward-looking statements we made in the earnings release or any that we may make during this call are based upon information we believe to be true as of today. However, things can change, and actual results may differ materially from those projected or anticipated. For a detailed list of risk factors, you should refer to our SEC filings, including our most recent Form 10-K and our Form 10-Q filed tonight for the second quarter.

Now I'll turn the call over to Rob.

Rob Willett

Thanks, Sue. Hello, everyone, and thank you for joining us. The three months since our last earnings call have been particularly active. To begin tonight's call, I want to update you on two big challenges going on in our business right now. One concerns a fire at our primary contract manufacturer that occurred in June. The other relates to overcapacity in our largest end market.