Cognex Corporation (NASDAQ:CGNX) Q3 2024 Results Earnings Conference Call October 31, 2024 8:30 AM ET
Company Participants
Nathan McCurren - Head of Investor Relations and Treasurer
Robert Willett - President and Chief Executive Officer
Dennis Fehr - Senior Vice President of Finance and Chief Financial Officer
Conference Call Participants
Jamie Cook - Truist Securities
Tommy Moll - Stephens Inc.
Andrew Buscaglia - BNP Paribas
Damian Karas - UBS Securities
Michael Anastasiou - TD Cowen
Jim Ricchiuti - Needham & Company
Jacob Levinson - Melius Research
Rob Mason - Robert W. Baird & Co.
Operator
Greetings. Welcome to the Cognex Third Quarter 2024 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].
It is now my pleasure to introduce your host, Nathan McCurren. You may begin.
Nathan McCurren
Thank you, operator. Good morning, everyone, and thank you for joining us. Our press release was published yesterday after market close and our quarterly report on Form 10-Q for Q3 2024 was filed this morning. The press release, earnings presentation and 10-Q are available on the Investor Relations section of our website.
Both our published materials and the call today will reference non-GAAP measures. You can find a reconciliation of certain items from GAAP to non-GAAP in our press release and earnings presentation.
Any forward-looking statements we made in the press release, the accompanying presentation posted to our website or any that we may make during this call are based upon information that we believe to be true as of today. Our actual results may differ from our projections due to the risks and uncertainties that are described in our SEC filings, including our most recent Form 10-K and Form 10-Q.
On today's call, Rob Willett, Cognex's President and CEO, will discuss end market trends and provide an update on our strategic initiatives. Dennis Fehr, Cognex's CFO, will discuss our second quarter financial results, and we'll conclude with our outlook.
With that, I'll turn the call over to Rob.
Robert Willett
Thanks, Nathan. Hello, everyone, and thank you for joining us on Halloween, Cognex's favorite holiday.
In the third quarter, we delivered revenue and adjusted EBITDA margin in line with our guidance. Revenue grew 19% year-on-year or 7% excluding the contribution of our Moritex acquisition, led by continued momentum in logistics and semiconductor and comparing against a low base in Q3 of 2023.