COGNEX Drug Patent Profile

When do Cognex patents expire, and what generic alternatives are available?

Cognex is a drug marketed by Shionogi Inc and is included in one NDA.

The generic ingredient in COGNEX is tacrine hydrochloride. There are two drug master file entries for this compound. Additional details are available on the tacrine hydrochloride profile page.

Summary for COGNEX

US Patents:	0
Applicants:	1
NDAs:	1
Raw Ingredient (Bulk) Api Vendors:	104
Patent Applications:	3,883
DailyMed Link:	COGNEX at DailyMed

US Patents and Regulatory Information for COGNEX

Applicant	Tradename	Generic Name	Dosage	NDA	Approval Date	TE	Type	RLD	RS	Patent No.	Patent Expiration	Product	Substance	Delist Req.	Exclusivity Expiration
Shionogi Inc	COGNEX	tacrine hydrochloride	CAPSULE;ORAL	020070-001	Sep 9, 1993		DISCN	No	No
Shionogi Inc	COGNEX	tacrine hydrochloride	CAPSULE;ORAL	020070-004	Sep 9, 1993		DISCN	No	No
Shionogi Inc	COGNEX	tacrine hydrochloride	CAPSULE;ORAL	020070-002	Sep 9, 1993		DISCN	No	No
Shionogi Inc	COGNEX	tacrine hydrochloride	CAPSULE;ORAL	020070-003	Sep 9, 1993		DISCN	No	No

Expired US Patents for COGNEX

Applicant	Tradename	Generic Name	Dosage	NDA	Approval Date	Patent No.	Patent Expiration
Shionogi Inc	COGNEX	tacrine hydrochloride	CAPSULE;ORAL	020070-003	Sep 9, 1993
Shionogi Inc	COGNEX	tacrine hydrochloride	CAPSULE;ORAL	020070-001	Sep 9, 1993
Shionogi Inc	COGNEX	tacrine hydrochloride	CAPSULE;ORAL	020070-004	Sep 9, 1993
Shionogi Inc	COGNEX	tacrine hydrochloride	CAPSULE;ORAL	020070-003	Sep 9, 1993
Shionogi Inc	COGNEX	tacrine hydrochloride	CAPSULE;ORAL	020070-002	Sep 9, 1993
Shionogi Inc	COGNEX	tacrine hydrochloride	CAPSULE;ORAL	020070-002	Sep 9, 1993

International Patents for COGNEX

See the table below for patents covering COGNEX around the world.

Country	Patent Number	Title	Estimated Expiration
Japan	H02500975
European Patent Office	0328535	ADMINISTRATION D'ACRIDINES DE MONOAMINE DANS LE TRAITEMENT D'ETATS DE DEFICIENCE CHOLINERGIQUE DES SYSTEMES NERVEUX. (THE ADMINISTRATION OF MONOAMINE ACRIDINES IN CHOLINERGIC NEURONAL DEFICIT STATES.)
Finland	891548
Denmark	488885
Australia	4903885
Spain	554569

Supplementary Protection Certificates for COGNEX

Patent Number	Supplementary Protection Certificate	SPC Country	SPC Expiration	SPC Description
0328535	96C0021	Belgium		PRODUCT NAME: LANSOPRAZOLE + CLARITHROMYCINE + METRONIDAZOLE; REGISTRATION NO/DATE IN FRANCE: K 27 17033R DU 19960209; REGISTRATION NO/DATE AT EEC: K 27 17033R DU 19960209

COGNEX Market Analysis and Financial Projection Experimental

Market Dynamics and Financial Trajectory of Cognex Corporation

Introduction

Cognex Corporation, a leader in machine vision technology, has been navigating a complex market landscape with significant fluctuations in various sectors. Here, we will delve into the market dynamics and financial trajectory of Cognex, highlighting key performance indicators, strategic initiatives, and future outlook.

Revenue Growth and Market Performance

In the third quarter of 2024, Cognex reported a 19% year-on-year increase in revenue, reaching $235 million. This growth was driven by strong performances in the Logistics and Semiconductor sectors, along with the contribution from the Moritex acquisition[2].

• Organic Growth: Excluding the Moritex acquisition, organic growth stood at 7%, indicating robust intrinsic growth within the company's core businesses[2].
• Segment Performance: The Logistics and Semiconductor sectors have been particularly strong, while the Automotive sector has faced softer conditions. Consumer Electronics revenue also showed seasonal variability[1].

Strategic Initiatives

Cognex has been investing in several strategic initiatives to drive long-term growth and profitability.

• AI-Driven Tools: The company has rolled out additional out-of-the-box AI features, enhancing its product offerings and competitiveness in the market[1].
• Emerging Customer Initiative: This initiative aims to expand Cognex's customer base and has been ramping up well, attracting many new customers. This is a multi-year investment that is expected to yield significant returns in the future[1][5].

Financial Performance

Here are some key financial metrics that highlight Cognex's performance:

• Gross Margin: The adjusted gross margin for Q3 2024 was 68.7%, slightly lower than the previous year due to the dilution effect from Moritex and negative mix and pricing factors[1].
• Operating Expenses: Adjusted operating expenses increased by 10% year-on-year, driven by expenses related to Moritex, the Emerging Customer initiative, and incentive compensation. However, these increases were partly offset by lower headcount and disciplined cost management[1].
• Net Income: Adjusted Net Income for Q3 2024 was $34 million, a 19% increase from the previous year, primarily driven by the contribution from Moritex[1].

Cash Flow and Financial Position

Cognex maintains a strong financial position:

• Free Cash Flow: The company reported a record free cash flow of $52 million in Q3 2024, reflecting its focus on working capital efficiency[2].
• Cash Reserves: As of Q3 2024, Cognex had $607 million in cash and investments with no debt, providing significant financial flexibility for future investments and strategic initiatives[2].

Outlook for Q4 2024

For the fourth quarter of 2024, Cognex expects:

• Revenue: To be between $210 million and $230 million, reflecting a sequential decrease due to Consumer Electronics seasonality and one fewer month of Moritex financials. Year-on-year, this represents a low-double-digit increase on a reported basis or a high-single-digit increase excluding Moritex[1][2].
• Adjusted Gross Margin: Expected to be in the high 60% range, with mix and competitive pricing as sequential headwinds[1].
• Adjusted EBITDA Margin: Expected to be between 14% and 17%, driven by tight management of operating expenses and positive operating leverage[1].

Market Capitalization and Shareholder Returns

Cognex has a market capitalization of $6.99 billion as of the latest data, reflecting its strong market position. The company has maintained dividend payments for 10 consecutive years, demonstrating financial stability and commitment to shareholder returns. The current dividend yield stands at 0.74%, with a dividend growth of 7.14% over the last twelve months[2].

Industry Trends and Competitive Landscape

The machine vision industry is evolving rapidly, driven by advancements in AI and automation.

• AI Integration: The integration of AI into machine vision products is a key trend, enhancing the accuracy and efficiency of vision systems. Cognex's investment in AI-driven tools positions it well to capitalize on this trend[1].
• End Market Dynamics: The performance of different end markets varies, with Logistics and Semiconductors showing strength, while Automotive and Consumer Electronics face softer conditions. This variability underscores the importance of diversification in Cognex's customer base[1].

Quotes from Industry Experts

"Cognex generated third quarter revenue and adjusted EBITDA margin in line with our guidance," said Robert J. Willett, CEO. "We made good strides in innovation, rolling out additional out-of-the-box AI features that are enhancing our products. We also continue to see our Emerging Customer initiative ramp well and attract many new customers."[1]

Illustrative Statistics

• Revenue Growth: 19% year-on-year increase in Q3 2024 to $235 million[2].
• Free Cash Flow: Record $52 million in Q3 2024[2].
• Cash Reserves: $607 million in cash and investments with no debt as of Q3 2024[2].
• Dividend Growth: 7.14% over the last twelve months[2].

Key Takeaways

• Strong Revenue Growth: Driven by Logistics and Semiconductor sectors, along with the Moritex acquisition.
• Strategic Initiatives: Investment in AI-driven tools and the Emerging Customer initiative to drive long-term growth.
• Financial Stability: Strong cash position, record free cash flow, and consistent dividend payments.
• Market Position: Strong market capitalization and commitment to shareholder returns.
• Industry Trends: Integration of AI in machine vision and diversification across end markets.

FAQs

Q: What were the key drivers of Cognex's revenue growth in Q3 2024? A: The key drivers were strong performances in the Logistics and Semiconductor sectors, along with the contribution from the Moritex acquisition.

Q: How has Cognex's investment in AI impacted its products? A: The investment in AI has led to the rollout of additional out-of-the-box AI features, enhancing the accuracy and efficiency of Cognex's products.

Q: What is the Emerging Customer initiative, and how is it performing? A: The Emerging Customer initiative is a multi-year investment aimed at expanding Cognex's customer base. It has been ramping up well and attracting many new customers.

Q: What is Cognex's financial outlook for Q4 2024? A: Cognex expects revenue between $210 million and $230 million, with an adjusted gross margin in the high 60% range and an adjusted EBITDA margin between 14% and 17%.

Q: How has Cognex maintained its financial stability? A: Cognex has maintained a strong cash position with $607 million in cash and investments, no debt, and a record free cash flow of $52 million in Q3 2024.

Sources

1. PR Newswire: Cognex Reports Third Quarter 2024 Results.
2. Investing.com: Earnings call: Cognex reported a 19% increase in revenue YoY.
3. Simply Wall St: High Growth Tech Stocks To Watch In September 2024.
4. Drugs.com: Cognex: Package Insert / Prescribing Information.
5. Cognex Investor Relations: Cognex Reports Fourth Quarter And Full Year 2023 Results.