COGNEX CORP, 10-Q filed on 5/7/2026
Quarterly Report
v3.26.1
Cover Page - shares
3 Months Ended
Apr. 05, 2026
May 03, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Transition Report false  
Entity File Number 001-34218  
Entity Registrant Name COGNEX CORP  
Entity Incorporation, State or Country Code MA  
Entity Tax Identification Number 04-2713778  
Entity Address, Address Line One One Vision Drive  
Entity Address, City or Town Natick  
Entity Address, State or Province MA  
Entity Address, Postal Zip Code 01760  
City Area Code 508  
Local Phone Number 650-3000  
Title of 12(b) Security Common Stock, par value $.002 per share  
Trading Symbol CGNX  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   166,419,451
Document Period End Date Apr. 05, 2026  
Entity Central Index Key 0000851205  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.26.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Income Statement [Abstract]    
Revenue $ 268,437 $ 216,036
Cost of revenue 77,498 71,713
Gross profit 190,939 144,323
Research, development, and engineering expenses 37,025 34,727
Selling, general, and administrative expenses 94,041 83,504
Operating income 59,873 26,092
Foreign currency gain (loss) (1,345) (2,453)
Investment income 4,836 3,990
Other income (expense) (1,607) 169
Income before income tax expense 61,757 27,798
Income tax expense 10,053 4,195
Net income $ 51,704 $ 23,603
Net income per weighted-average common and common-equivalent share:    
Basic (usd per share) $ 0.31 $ 0.14
Diluted (usd per share) $ 0.31 $ 0.14
Weighted-average common and common-equivalent shares outstanding:    
Basic (shares) 166,514 169,265
Diluted (shares) 168,386 170,391
Cash dividends per common share (usd per share) $ 0.085 $ 0.080
v3.26.1
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Statement of Comprehensive Income [Abstract]    
Net income $ 51,704 $ 23,603
Available-for-sale investments:    
Net unrealized gain (loss) on available-for-sale investments, net of tax (2,227) 2,711
Reclassification of net realized (gain) loss on the sale of available-for-sale investments into current operations (28) (27)
Net change related to available-for-sale investments (2,255) 2,684
Net change related to foreign currency translation adjustments (4,983) 11,447
Other comprehensive income (loss), net of tax (7,238) 14,131
Total comprehensive income (loss) $ 44,466 $ 37,734
v3.26.1
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Statement of Comprehensive Income [Abstract]    
OCI, available-for-sale, unrealized holding gain (loss), before adjustment, tax $ (726) $ 875
v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Apr. 05, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 237,343 $ 262,925
Current investments 59,413 74,037
Accounts receivable, net of allowance for credit losses of $781 and $728 in 2026 and 2025, respectively 170,721 146,713
Unbilled revenue 16,401 16,980
Inventories 135,549 137,889
Prepaid expenses and other current assets 70,922 58,702
Total current assets 690,349 697,246
Non-current investments 325,186 305,339
Property, plant, and equipment, net 84,291 86,015
Operating lease assets 69,709 72,310
Goodwill 382,818 386,279
Intangible assets, net 67,140 81,100
Deferred income taxes 381,100 383,272
Other assets 5,025 4,994
Total assets 2,005,618 2,016,555
Current liabilities:    
Accounts payable 59,551 50,203
Accrued expenses 77,399 91,397
Accrued income taxes 6,172 9,141
Deferred revenue and customer deposits 34,053 21,094
Operating lease liabilities 12,310 11,716
Total current liabilities 189,485 183,551
Non-current operating lease liabilities 61,707 64,870
Deferred income taxes 252,230 250,512
Reserve for income taxes 21,336 24,269
Other liabilities 1,891 1,452
Total liabilities 526,649 524,654
Commitments and Contingencies
Shareholders’ equity:    
Preferred stock, $.01 par value – Authorized: 400 shares in 2026 and 2025, respectively; no shares issued and outstanding 0 0
Common stock, $.002 par value – Authorized: 300,000 shares in 2026 and 2025, respectively; issued and outstanding: 166,527 and 166,997 shares in 2026 and 2025, respectively 333 334
Additional paid-in capital 1,194,927 1,138,708
Retained earnings 344,443 406,355
Accumulated other comprehensive loss, net of tax (60,734) (53,496)
Total shareholders’ equity 1,478,969 1,491,901
Total liabilities and shareholders' equity $ 2,005,618 $ 2,016,555
v3.26.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Apr. 05, 2026
Dec. 31, 2025
Statement of Financial Position [Abstract]    
Allowance for credit losses, current $ 781 $ 728
Preferred stock par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock shares authorized (in shares) 400,000 400,000
Preferred stock shares issued (in shares) 0 0
Preferred stock shares outstanding (in shares) 0 0
Common stock par value (in dollars per share) $ 0.002 $ 0.002
Common stock shares authorized (in shares) 300,000,000 300,000,000
Common stock, shares issued (in shares) 166,527,000 166,997,000
Common stock, shares outstanding (in shares) 166,527,000 166,997,000
v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Cash flows from operating activities:    
Net income $ 51,704 $ 23,603
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Stock-based compensation expense 11,933 9,939
Depreciation of property, plant, and equipment 4,703 5,306
Amortization of intangible assets 2,532 2,628
Excess and obsolete inventory charges 364 197
Loss on sale of business, net of transaction costs 1,539 0
Deferred income taxes 4,740 (4,689)
Other adjustments (380) (188)
Accounts receivable (23,711) (17,183)
Unbilled revenue 593 307
Inventories 8 5,474
Prepaid expenses and other current assets (12,212) 2,526
Accounts payable 9,390 4,996
Accrued expenses (13,554) (6,055)
Accrued income taxes (2,905) (3,153)
Deferred revenue and customer deposits 12,889 14,761
Other (2,540) 2,033
Net cash provided by (used in) operating activities 45,093 40,502
Cash flows from investing activities:    
Purchases of investments (47,013) (113,297)
Maturities and sales of investments 39,042 148,885
Net proceeds from sale of business 11,519 0
Purchases of property, plant, and equipment, net of proceeds (2,757) (2,501)
Net cash provided by (used in) investing activities 791 33,087
Cash flows from financing activities:    
Net payments from issuance of common stock under stock plans 44,290 (2,587)
Repurchase of common stock (98,995) (102,233)
Payment of dividends (14,196) (13,550)
Net cash provided by (used in) financing activities (68,901) (118,370)
Effect of foreign exchange rate changes on cash and cash equivalents (2,565) 2,431
Net change in cash and cash equivalents (25,582) (42,350)
Cash and cash equivalents at beginning of period 262,925 186,094
Cash and cash equivalents at end of period $ 237,343 $ 143,744
v3.26.1
Consolidated Statement of Shareholders' Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Beginning Balance (in shares) at Dec. 31, 2024   170,434      
Beginning Balance at Dec. 31, 2024 $ 1,517,505 $ 341 $ 1,090,638 $ 499,303 $ (72,777)
Increase (Decrease) in Stockholders' Equity          
Net issuance of common stock under stock plans (in shares)   478      
Net issuance of common stock under stock plans (2,587) $ 1 (2,588)    
Repurchase of common stock (in shares)   (3,047)      
Repurchase of common stock (103,413) $ (6)   (103,407)  
Stock-based compensation expense 9,939   9,939    
Payment of dividends (13,550)     (13,550)  
Net income 23,603     23,603  
Net unrealized gain (loss) on available-for-sale investments, net of tax 2,711       2,711
Reclassification of net realized (gain) loss on the sale of available-for-sale investments (27)       (27)
Foreign currency translation adjustment 11,447       11,447
Ending Balance (in shares) at Mar. 30, 2025   167,865      
Ending Balance at Mar. 30, 2025 $ 1,445,628 $ 336 1,097,989 405,949 (58,646)
Beginning Balance (in shares) at Dec. 31, 2025 166,997 166,997      
Beginning Balance at Dec. 31, 2025 $ 1,491,901 $ 334 1,138,708 406,355 (53,496)
Increase (Decrease) in Stockholders' Equity          
Net issuance of common stock under stock plans (in shares)   1,905      
Net issuance of common stock under stock plans 44,290 $ 4 44,286    
Repurchase of common stock (in shares)   (2,375)      
Repurchase of common stock (98,995) $ (5)   (98,990)  
Excise tax on repurchase of common stock (430)     (430)  
Stock-based compensation expense 11,933   11,933    
Payment of dividends (14,196)     (14,196)  
Net income 51,704     51,704  
Net unrealized gain (loss) on available-for-sale investments, net of tax (2,227)       (2,227)
Reclassification of net realized (gain) loss on the sale of available-for-sale investments (28)       (28)
Foreign currency translation adjustment $ (4,983)       (4,983)
Ending Balance (in shares) at Apr. 05, 2026 166,527 166,527      
Ending Balance at Apr. 05, 2026 $ 1,478,969 $ 333 $ 1,194,927 $ 344,443 $ (60,734)
v3.26.1
Consolidated Statement of Shareholders' Equity (Parenthetical) - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Statement of Stockholders' Equity [Abstract]    
Cash dividends per common share (usd per share) $ 0.085 $ 0.080
OCI, available-for-sale, unrealized holding gain (loss), before adjustment, tax $ (726) $ 875
v3.26.1
Summary of Significant Accounting Policies
3 Months Ended
Apr. 05, 2026
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
As permitted by the rules of the Securities and Exchange Commission applicable to Quarterly Reports on Form 10-Q, these notes are condensed and do not contain all disclosures required by accounting principles generally accepted in the United States ("GAAP"). Reference should be made to the consolidated financial statements and related notes included in Cognex Corporation's ("Cognex" or the "Company") Annual Report on Form 10-K for the year ended December 31, 2025 for a full description of other significant accounting policies.
In the opinion of the management of the Company, the accompanying consolidated unaudited financial statements contain all adjustments, consisting of normal, recurring adjustments and financial statement reclassifications necessary to present fairly the Company’s financial position as of April 5, 2026, and the results of its operations for the three-month periods ended April 5, 2026 and March 30, 2025, and changes in shareholders’ equity, comprehensive income, and cash flows for the periods presented.
The results disclosed in the Consolidated Statements of Operations for the three-month period ended April 5, 2026 are not necessarily indicative of the results to be expected for the full year.
v3.26.1
New Pronouncements
3 Months Ended
Apr. 05, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
New Pronouncements New Pronouncements
Accounting Standards Update (ASU) 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)
This ASU aims to enhance transparency for users of financial statements by requiring public business entities to disaggregate specific expense categories. ASU 2024-03 mandates disclosures in the notes to financial statements detailing the composition and trends of key expense categories within major income statement captions. These enhanced disclosures are intended to help investors more effectively assess the entity’s performance, understand its cost structure, and make more accurate forecasts of future cash flows. For public business entities, ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. The adoption will result in disclosure changes only. Management is currently evaluating the impact that adopting ASU 2024-03 would have on the Company's financial statement disclosures.
Accounting Standards Update (ASU) 2025-06 - Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software
The amendments in this ASU update the accounting and disclosure guidance for internal-use software to better reflect modern, iterative development practices. The amendments replace the former “development stage” model with a judgment-based framework and require entities to evaluate whether significant development uncertainty exists before capitalizing costs. The ASU also incorporates website development guidance into Subtopic 350-40 and aligns disclosures for capitalized software with those for property, plant, and equipment. For public business entities, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2027, and for interim periods within those annual reporting periods, with early adoption permitted. Management is currently evaluating the impact that adopting ASU 2025-06 would have on the Company's financial statements and disclosures.
Accounting Standards Update (ASU) 2025-11 - Interim Reporting (Topic 270): Narrow-Scope Improvements
The amendments in this ASU improve the navigability and clarity of interim reporting requirements without changing the fundamental nature or scope of existing disclosures. The ASU also clarifies when Topic 270 applies, specifies the form and content of interim financial statements and notes, and introduces a comprehensive list of required interim disclosures compiled from across the Codification. The ASU also adds a disclosure principle requiring entities to disclose events occurring after the most recent annual reporting period that have a material impact on the entity. For public business entities, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2027, and for interim periods within annual reporting periods beginning after December 15, 2028, with early adoption permitted. Management is currently evaluating the impact that adopting ASU 2025-11 would have on the Company's disclosures.
Accounting Standards Update (ASU) 2025-12 - Codification Improvements
The amendments in this ASU make incremental improvements to clarify, correct, and enhance the usability of the Accounting Standards Codification. The amendments address technical corrections, unintended application issues,
and minor improvements across numerous topics, and are not expected to significantly affect current accounting practice. Key areas of clarification include diluted earnings per share calculations, disclosure requirements for lease receivables, guidance on beneficial interests, methods for accounting for treasury stock retirements, and the treatment of receivables transferred from contracts with customers. For public business entities, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2026, and for interim periods within those annual reporting periods, with early adoption permitted. Management is currently evaluating the impact that adopting ASU 2025-10 would have on the Company's financial statements and disclosures.
v3.26.1
Financial Instruments
3 Months Ended
Apr. 05, 2026
Fair Value Disclosures [Abstract]  
Financial Instruments Financial Instruments
Cash, Cash Equivalents, and Investments
The following table summarizes the Company’s cash, cash equivalents, and investments as of April 5, 2026 (in thousands):
Fair Value LevelAmortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair ValueCash and Cash EquivalentsCurrent InvestmentsNon-current Investments
Cash$178,191 $— $— $178,191 $178,191 $— $— 
Money market instrumentsLevel 159,152 — — 59,152 59,152 — — 
Corporate bondsLevel 2360,314 1,399 (1,304)360,409 — 58,428 301,981 
Treasury notesLevel 220,365 26 (26)20,365 — 985 19,380 
Asset-backed securitiesLevel 24,116 — (291)3,825 — — 3,825 
Total$622,138 $1,425 $(1,621)$621,942 $237,343 $59,413 $325,186 
The following table summarizes the Company’s cash, cash equivalents, and investments as of December 31, 2025 (in thousands):
Fair Value LevelAmortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair ValueCash and Cash EquivalentsCurrent InvestmentsNon-current Investments
Cash$199,755 $— $— $199,755 $199,755 $— $— 
Money market instrumentsLevel 163,170 — — 63,170 63,170 — — 
Corporate bondsLevel 2342,442 3,149 (240)345,351 — 66,625 278,726 
Treasury notesLevel 229,676 167 — 29,843 — 7,412 22,431 
Asset-backed securitiesLevel 24,471 — (289)4,182 — — 4,182 
Total$639,514 $3,316 $(529)$642,301 $262,925 $74,037 $305,339 
The Company’s money market instruments are reported at fair value based upon the daily market price for identical assets in active markets and are therefore classified as Level 1. Money market instruments consist of treasury bills, corporate commercial paper, and certificates of deposit that are highly liquid and mature in three months or less. Corporate bonds consist of debt securities issued by both domestic and foreign companies; treasury notes consist of debt securities issued by the U.S. government; and asset-backed securities consist of debt securities collateralized by pools of receivables or loans with credit enhancement. All of the Company's securities as of April 5, 2026 and December 31, 2025 were denominated in U.S. Dollars, with the exception of certain certificates of deposit.
The Company’s debt securities are reported at fair value based on model-driven valuations in which all significant inputs are observable or can be derived from or corroborated by observable market data for substantially the full term of the asset or liability and are therefore classified as Level 2. Management is responsible for estimating the fair value of these financial instruments, and in doing so, considers valuations provided by a large, third-party pricing service. This service maintains regular contact with market makers, brokers, dealers, and analysts to gather information on market movement, direction, trends, and other specific data. They use this information to structure yield curves for various types of debt securities and arrive at the daily valuations.
Accrued interest receivable is recorded in "Prepaid expenses and other current assets" on the Consolidated Balance Sheets and amounted to $3,793,000 and $3,852,000 as of April 5, 2026 and December 31, 2025,
respectively.
Realized Gains (Losses) on Debt Securities
The following table summarizes the Company's gross realized gains and losses on the sale of debt securities for the three-month periods ended April 5, 2026 and March 30, 2025 (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Gross realized gains$28 $27 
Gross realized losses — 
Net realized gains (losses)$28 $27 
Realized gains and losses are included in "Investment income" on the Consolidated Statements of Operations. Prior to the sale of these securities, unrealized gains and losses for these debt securities, net of tax, were recorded in shareholders’ equity as accumulated other comprehensive income (loss).
Unrealized Losses on Debt Securities
The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of April 5, 2026 (in thousands):
Unrealized Loss Position For:
Less than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Corporate bonds$138,944 $(1,242)$11,537 $(62)$150,481 $(1,304)
Treasury notes7,167 (26)— — 7,167 (26)
Asset-backed securities— — 3,825 (291)3,825 (291)
$146,111 $(1,268)$15,362 $(353)$161,473 $(1,621)
The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of December 31, 2025 (in thousands):
Unrealized Loss Position For:
Less than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Corporate bonds$30,602 $(73)$22,412 $(167)$53,014 $(240)
Asset-backed securities— — 4,182 (289)4,182 (289)
$30,602 $(73)$26,594 $(456)$57,196 $(529)
Management monitors debt securities that are in an unrealized loss position to determine whether a loss exists related to the credit quality of the issuer. When developing an estimate of expected credit losses, management considers all relevant information including historical experience, current conditions, and reasonable forecasts of expected future cash flows. Based on this evaluation, no allowance for credit losses on debt securities was recorded as of April 5, 2026 or December 31, 2025. Management currently intends to hold these securities to full value recovery at maturity.
Debt Securities Maturities
The following table presents the effective maturity dates of the Company’s available-for-sale investments as of April 5, 2026 (in thousands):
<1 year1-2 Years2-3 Years3-4 Years4-5 YearsTotal
Corporate bonds$58,428 $82,557 $115,212 $53,935 $50,277 $360,409 
Treasury notes985 17,389 1,991 — — 20,365 
Asset-backed securities— — — 3,728 97 3,825 
$59,413 $99,946 $117,203 $57,663 $50,374 $384,599 
Derivative Instruments
The Company’s foreign currency risk management strategy is designed to mitigate the potential financial impact of changes in the value of transactions and balances denominated in foreign currencies resulting from changes in foreign currency exchange rates. The Company enters into economic hedges utilizing foreign currency forward contracts with maturities of generally up to three months but not greater than one year to manage the exposure to fluctuations in foreign currency exchange rates arising primarily from foreign-denominated receivables and payables. The gains and losses on these derivatives are intended to be offset by the changes in the fair value of the assets and liabilities being hedged. These economic hedges are not designated as hedging instruments for hedge accounting treatment.
The Company had the following outstanding forward contracts (in thousands):
April 5, 2026December 31, 2025
CurrencyNotional
Value
USD
Equivalent
Notional
Value
USD
Equivalent
Derivatives Not Designated as Hedging Instruments:
Singapore Dollar34,000 $27,335 — $— 
Chinese Renminbi170,000 24,734 20,000 2,865 
Euro15,000 17,343 — — 
Mexican Peso150,000 8,380 160,000 8,881 
Hungarian Forint2,500,000 7,517 2,500,000 7,600 
British Pound4,000 5,297 4,000 5,383 
Japanese Yen800,000 5,034 400,000 2,563 
Swiss Franc2,000 2,515 — — 
Indian Rupee225,000 2,399 400,000 4,436 
Korean Won3,000,000 1,988 9,000,000 6,239 
Information regarding the fair value of the outstanding forward contracts was as follows (in thousands):
Asset DerivativesLiability Derivatives
Fair ValueFair Value
Balance Sheet LocationFair Value LevelApril 5, 2026December 31, 2025Balance Sheet LocationFair Value LevelApril 5, 2026December 31, 2025
Derivatives Not Designated as Hedging Instruments:
Economic hedge forward contractsPrepaid expenses and other current assetsLevel 2$985 $791 Accrued expensesLevel 2$1,856 $367 
Activity:
Gross amounts recognized$985 $791 $1,856 $367 
Gross amounts offset —  — 
Net amounts presented on the Consolidated Balance Sheets$985 $791 $1,856 $367 
The Company’s forward contracts are reported at fair value based on model-driven valuations in which all significant inputs are observable or can be derived from or corroborated by observable market data for substantially the full term of the asset or liability and are therefore classified as Level 2. The Company's forward contracts are typically traded or executed in over-the-counter markets with a high degree of pricing transparency. The market participants are generally large commercial banks.
Information regarding the effect of derivative instruments on the Consolidated Statements of Operations was as follows (in thousands):
Statement of Operations LocationThree-months Ended
April 5, 2026March 30, 2025
Derivatives Not Designated as Hedging Instruments:
Gains (losses) recognized in current operationsForeign currency gain (loss)$(761)$(547)
Activities related to derivative instruments are reflected within "Net cash provided by (used in) operating activities" on the Consolidated Statements of Cash Flows.
v3.26.1
Inventories
3 Months Ended
Apr. 05, 2026
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories consisted of the following (in thousands):
April 5, 2026December 31, 2025
Raw materials$69,896 $75,417 
Work-in-process6,446 4,877 
Finished goods59,207 57,595 
$135,549 $137,889 
v3.26.1
Goodwill and Intangible Assets
3 Months Ended
Apr. 05, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The changes in the carrying value of goodwill were as follows (in thousands):
Balance as of December 31, 2025$386,279 
Business disposal (refer to Note 13)(541)
Foreign exchange rate changes(2,920)
Balance as of April 5, 2026$382,818 
Amortized intangible assets as of April 5, 2026 consisted of the following (in thousands):
Gross
Carrying
Value
Accumulated
Amortization
Net
Carrying
Value
Customer relationships$54,907 $(13,760)$41,147 
Completed technologies58,175 (32,320)25,855 
Trademarks799 (666)133 
Non-compete agreements60 (55)5 
Balance as of April 5, 2026$113,941 $(46,801)$67,140 
Amortized intangible assets as of December 31, 2025 consisted of the following (in thousands):
Gross
Carrying
Value
Accumulated
Amortization
Net
Carrying
Value
Customer relationships$68,241 $(14,843)$53,398 
Completed technologies58,603 (31,110)27,493 
Trademarks812 (610)202 
Non-compete agreements60 (53)
Balance as of December 31, 2025$127,716 $(46,616)$81,100 
Future amortization expense related to intangible assets as of April 5, 2026 is as follows (in thousands):
Amount
Remainder of fiscal 2026$6,611 
20277,968 
20287,238 
20297,238 
20306,695 
20316,695 
Thereafter24,695 
$67,140 
On April 1, 2026, the Company completed the divestiture of its Japan-focused trading business, which was originally acquired as part of the acquisition of Moritex Corporation in 2023. In connection with the divestiture, the Company derecognized $541,000 of goodwill and $10,636,000 of customer relationship intangible assets, representing the net carrying amounts attributable to the disposed business.
v3.26.1
Warranty Obligations
3 Months Ended
Apr. 05, 2026
Product Warranties Disclosures [Abstract]  
Warranty Obligations Warranty Obligations
The Company records the estimated cost of fulfilling product warranties at the time of sale based upon historical costs to fulfill claims. Obligations may also be recorded subsequent to the time of sale whenever specific events or changes in circumstances impacting product quality become known that would not have been taken into account using historical data. While we engage in extensive product quality programs and processes, including actively monitoring and evaluating the quality of our component suppliers and third-party contract manufacturers, the Company’s warranty obligation is affected by product failure rates, material usage, and service delivery costs incurred in correcting a product failure. An adverse change in any of these factors may result in the need for additional warranty provisions. Warranty obligations are included in “Accrued expenses” on the Consolidated Balance Sheets.
The changes in the warranty obligation for the three-month periods ended April 5, 2026 and March 30, 2025 were as follows (in thousands):
Balance as of December 31, 2025$5,474 
Provisions for warranties issued during the period1,301 
Fulfillment of warranty obligations(1,127)
Balance as of April 5, 2026$5,648 
Balance as of December 31, 2024$5,140 
Provisions for warranties issued during the period1,453 
Fulfillment of warranty obligations(873)
Foreign exchange rate changes
Balance as of March 30, 2025$5,728 
v3.26.1
Commitment and Contingencies
3 Months Ended
Apr. 05, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
As of April 5, 2026, the Company had outstanding purchase orders totaling $50,616,000 to procure inventory from various vendors. Certain of these purchase orders may be canceled by the Company, subject to cancellation penalties. These purchase commitments relate primarily to expected sales in the next twelve months.
A significant portion of the Company's outstanding inventory purchase orders as of April 5, 2026, as well as additional preauthorized commitments to procure strategic components based on the Company's expected customer demand, are placed with the Company's primary contract manufacturer for the Company's assembled products. The Company has the obligation to purchase any non-cancelable and non-returnable components that have been purchased by the contract manufacturer with the Company's preauthorization, when these components have not been consumed within the period defined in the terms of the Company's agreement with this contract manufacturer. While the Company typically expects such purchased components to be used in future production of Cognex finished goods, these components are considered in the Company's reserve estimate for excess and obsolete inventory. Furthermore, the Company accrues for losses on commitments for the future purchase of non-cancelable and non-returnable components from this contract manufacturer at the time that circumstances, such as changes in demand, indicate that the value of the components may not be recoverable, the loss is probable, and management has the ability to reasonably estimate the amount of the loss. The Company's accrual for such losses was not material as of April 5, 2026 and March 30, 2025.
Various claims and legal proceedings generally incidental to the normal course of business are pending or threatened on behalf of or against the Company. While we cannot predict the outcome of these matters, we believe that any liability arising from them will not have a material adverse effect on our financial position, liquidity, or results of operations.
v3.26.1
Stockholder's Equity
3 Months Ended
Apr. 05, 2026
Equity [Abstract]  
Stockholder's Equity Stockholders' Equity
Stock Repurchase Program
In March 2022, the Company's Board of Directors (the "Board") authorized a program providing for the repurchase of $500,000,000 of the Company's common stock (the "Program"). Under the Program, in addition to repurchases made in prior periods, the Company repurchased 3,047,000 shares at a total cost of $103,413,000 during the three-month period ended March 30, 2025 and 2,375,000 shares at a total cost of $98,995,000 during the three-month period ended April 5, 2026, leaving a remaining balance of $16,025,000 as of April 5, 2026. On February 11, 2026, the Board authorized the repurchase of an additional $500,000,000 of the Company's common stock upon completion of the Program. The Company may repurchase shares under these programs in future periods depending on a variety of factors, including, among other things, the impact of dilution from employee stock awards, stock price, share availability, and cash requirements. The Company is authorized to make repurchases of its common stock through open market purchases, pursuant to Rule 10b5-1 trading plans, or in privately negotiated transactions.
Stock-Based Compensation Expense
The Company’s stock-based awards that result in compensation expense consist of stock options, restricted stock units ("RSUs"), and performance restricted stock units ("PRSUs").
The following table summarizes the number of stock-based awards granted by the Company and the weighted-average grant-date fair value per unit for the three-month periods ended April 5, 2026 and March 30, 2025:
Three-months Ended
April 5, 2026March 30, 2025
Stock-Based Awards Granted
(in 
thousands)
Weighted-
Average
Grant-Date Fair Value
Stock-Based Awards Granted
(in 
thousands)
Weighted-
Average
Grant-Date Fair Value
Stock options326 $22.13 1,360 $12.32 
Restricted stock units745 $56.36 1,248 $32.35 
Performance restricted stock units71 $56.13 184 $32.14 
1,142 2,792 
During the three-month periods ended April 5, 2026 and March 30, 2025, the Company granted PRSUs that vest upon the achievement of (1) a service condition of three years of continuous employment and (2) a performance condition established by the Compensation Committee of the Board as of the grant date. The number of shares earned could range between 0% and 120% based on achievement of the performance condition, which includes certain financial targets. The fair value of these PRSUs is calculated based on the observable market price of the Company's stock on the grant date less the present value of expected future dividends. Compensation expense for these PRSUs is recognized based on the probable outcome of the performance condition with a cumulative catch-up adjustment for prior periods in the period that the probable outcome changes.
The Company stratifies its employee population into two groups: one consisting of senior management and members of the Board and another consisting of all other employees. The Company currently applies an estimated annual forfeiture rate of 12% to all stock-based awards for senior management and a rate of 13% for all other employees. Each year during the first quarter, the Company revises its forfeiture rate based on updated estimates of employee turnover. Credits of $1,576,000 and $4,789,000 were recorded in 2026 and 2025, respectively, to true up previously recorded compensation expense for this forfeiture rate revision. Additionally in the first quarter of 2026, the Company revised its forfeiture rate applied specifically to stock-based awards for its former chief executive officer to 100% due to his retirement from the Board effective March 2, 2026, resulting in credits of $5,031,000.
As of April 5, 2026, total unrecognized compensation expense, net of estimated forfeitures, related to non-vested equity awards, including stock options, RSUs, and PRSUs, was $68,857,000, which is expected to be recognized over a weighted-average period of 1.8 years.
The following table presents the stock-based compensation expense by caption for each period presented on the Consolidated Statements of Operations (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Cost of revenue$925 $668 
Research, development, and engineering5,094 $4,696 
Selling, general, and administrative5,914 $4,575 
Total stock-based compensation expense$11,933 $9,939 
No compensation expense was capitalized as of April 5, 2026 or December 31, 2025.
v3.26.1
Revenue Recognition
3 Months Ended
Apr. 05, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The following table summarizes disaggregated revenue information by geographic area based upon the customer's country of domicile (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Americas$121,301 $99,374 
Europe63,815 46,790 
Greater China37,759 26,946 
Other Asia45,562 42,926 
268,437 216,036 

The following table summarizes disaggregated revenue information by revenue type (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Standard products and services254,439 204,510 
Application-specific customer solutions13,998 11,526 
268,437 216,036 
Costs to Fulfill a Contract
Costs to fulfill a contract are included in "Prepaid expenses and other current assets" on the Consolidated Balance Sheets and amounted to $17,224,000 and $10,592,000 as of April 5, 2026 and December 31, 2025, respectively.
Accounts Receivable, Contract Assets, and Contract Liabilities
Accounts receivable represent amounts billed and currently due from customers which are reported at their net estimated realizable value. The Company maintains an allowance against its accounts receivable for credit losses. Contract assets consist of unbilled revenue which arises when revenue is recognized in advance of billing for certain application-specific customer solutions contracts. Contract liabilities consist of deferred revenue and customer deposits which arise when amounts are billed to or collected from customers in advance of revenue recognition.
The following table summarizes the deferred revenue and customer deposits activity for the three-month periods ended April 5, 2026 and March 30, 2025 (in thousands):
Balance as of December 31, 2025$21,094 
Deferral of revenue billed in the current period, net of recognition21,134 
Recognition of revenue deferred in prior period(8,042)
Reclassified to accounts receivable(203)
Foreign exchange rate changes70 
Balance as of April 5, 2026$34,053 
Balance at December 31, 2024$25,035 
Deferral of revenue billed in the current period, net of recognition22,175 
Recognition of revenue deferred in prior period(7,414)
Foreign exchange rate changes62 
Balance as of March 30, 2025$39,858 
As a practical expedient, the Company has elected not to disclose the aggregate amount of the transaction price allocated to unsatisfied performance obligations for our contracts that have an original expected duration of less than one year. The remaining unsatisfied performance obligations for our contracts that have an original expected duration of more than one year, primarily related to extended warranties, are not material.
v3.26.1
Income Taxes
3 Months Ended
Apr. 05, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company's effective tax rate was 16% and 15% for the three-month periods ended April 5, 2026 and March 30, 2025, respectively.
The Company has defined its major tax jurisdictions as the United States, Ireland, China, Japan, and Korea, and within the United States, Massachusetts. The statutory tax rate is 12.5% in Ireland, 25% in China, 34.7% in Japan, and 22% in Korea, compared to the U.S. federal statutory corporate tax rate of 21%. These foreign tax rate differences resulted in a favorable impact to the effective tax rate for both the three-month periods ended April 5, 2026 and March 30, 2025.
For the three-month period ended April 5, 2026, the Company recorded a net discrete tax benefit of $1,179,000, primarily driven by excess tax benefits related to stock‑based compensation. For the three-month period ended March 30, 2025, the Company recorded a net discrete tax benefit of $307,000, primarily driven by deferred tax adjustments partially offset by excess tax liabilities related to stock‑based compensation.
The Company’s reserve for income taxes, including gross interest and penalties, was $24,195,000 as of April 5, 2026, of which $21,336,000 was classified as a non-current liability and $2,859,000 was classified as an offset to deferred tax assets. If the Company’s tax positions were sustained or the statutes of limitations related to certain positions expired, these reserves would be released and income tax expense would be reduced in a future period.
Within the United States, the tax years 2022 through 2025 remain open to examination by the Internal Revenue Service, and 2021 through 2025 remain open to examination by various state tax authorities. The tax years 2017 through 2025 remain open to examination by various international taxing authorities in other jurisdictions in which the Company operates.
The Organization for Economic Cooperation and Development ("OECD") provided model rules for a 15% global minimum tax, known as Pillar Two. Pillar Two has now been enacted by most key non-United States jurisdictions where the Company operates. From 2024 to 2025, the Company met at least one of the tests under the transitional safe harbor exception for all jurisdictions except for the United States. During 2024 and 2025, the Company had favorable treatment under a safe harbor that exempted U.S. multinational entity exposure to top-up tax under Pillar Two, which expired at the end of 2025. In 2026, OECD released the framework for a side-by-side system, providing a permanent solution for multinational entities headquartered in jurisdictions that had not fully adopted the Pillar Two Model Rules into domestic law but have current domestic tax regimes meeting certain requirements, including a high statutory tax rates (at least 20%) that had not fully adopted the Pillar Two Model Rules into domestic law. However, uncertainty remains related to the implementation of this arrangement across the various jurisdictions in which the Company operates, and the Company is now subject to top-up tax effective January 1, 2026. This minimum tax is treated as a period cost but did not have a material impact on the Company's financial results of operations for the three-month period ended April 5, 2026. The Company continues to monitor legislative developments.
v3.26.1
Earnings per Share
3 Months Ended
Apr. 05, 2026
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
The following table shows the computation of basic and diluted earnings per share for the three-month periods ended April 5, 2026 and March 30, 2025 (in thousands, except per share amounts):
Three-months Ended
April 5, 2026March 30, 2025
Net income51,704 23,603 
Basic weighted-average common and common-equivalent shares outstanding166,514 169,265 
Effect of dilutive stock-based awards1,872 1,126 
Diluted weighted-average common and common-equivalent shares outstanding168,386 170,391 
Earnings per share
Basic0.31 0.14 
Diluted0.31 0.14 
The computation of diluted weighted-average common shares outstanding excludes the following weighted average anti-dilutive stock-based awards outstanding for the three-month periods ended April 5, 2026 and March 30, 2025 (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Stock options5,945 9,765 
Restricted stock units376 — 
Performance restricted stock units41 — 
Total weighted average anti-dilutive stock-based awards outstanding6,362 9,765 
v3.26.1
Segment and Geographic Information
3 Months Ended
Apr. 05, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in one segment, machine vision technology. The Company has a single, company-wide management team that administers operations as a whole rather than as discrete operating segments. The Company’s chief operating decision maker is the chief executive officer, who assesses performance and allocates resources at the corporate level, as compared to the geography, product line, or end market levels. The Company offers a variety of machine vision products that have similar economic characteristics and are distributed by the same sales channels to the same types of customers.
The measure of segment profit or loss for the Company's single segment is net income. Segment expenses were disaggregated based on the information the chief operating decision maker uses to assess performance and allocate resources considering both quantitative and qualitative factors. The following table summarizes significant segment expenses, which represents the difference between segment revenue and segment net income (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Revenue$268,437 $216,036 
Less:
Cost of revenue (1)
77,498 71,713 
Gross profit190,939 144,323 
Less:
Research, development, and engineering expenses
Salaries and fringe benefits19,074 18,274 
Incentive compensation (2)
2,024 1,071 
Stock-based compensation5,094 4,696 
Depreciation and amortization502 755 
Other segment expenses (3)
10,331 9,931 
Total research, development, and engineering expenses37,025 34,727 
Selling, general, and administrative expenses
Salaries and fringe benefits45,026 42,195 
Incentive compensation (2)
14,326 10,882 
Stock-based compensation5,914 4,575 
Depreciation and amortization3,666 4,161 
Other segment expenses (3)
25,109 21,691 
Total selling, general, and administrative expenses94,041 83,504 
Operating income59,873 26,092 
Foreign currency gain (loss)(1,345)(2,453)
Investment income4,836 3,990 
Other income (expense)(1,607)169 
Income before income tax expense61,757 27,798 
Income tax expense10,053 4,195 
Net income$51,704 $23,603 
(1) Cost of revenue includes depreciation and amortization expense (including amortization of acquired technologies) of $3,067,000 and $3,018,000 for the three-month periods ended April 5, 2026 and March 30, 2025, respectively.
(2) Incentive compensation includes company bonus and sales commissions.
(3) Other segment expenses include outside services, prototyping materials, sales demonstration equipment, travel and entertainment, marketing programs, rent, and reorganization charges, among other less significant expenses.
Segment assets amounted to $2,005,618,000 and $2,016,555,000 as of April 5, 2026 and December 31, 2025, respectively.
v3.26.1
Business Disposal
3 Months Ended
Apr. 05, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Business Disposal Business Disposal
On April 1, 2026, the Company completed the divestiture of its Japan-focused trading business, which was originally acquired as part of the acquisition of Moritex Corporation ("Moritex") in 2023. The disposal group met the definition of a business under ASC 805 as it included inputs and substantive processes that together significantly contributed to the ability to create outputs. The transaction resulted in gross proceeds received from the buyer of ¥1,882,688,000 Japanese Yen ($12,049,000 U.S. Dollars based on the closing-date foreign exchange rate).
Carrying amounts of major assets and liabilities included as part of the disposal group were as follows (in thousands):
Amount
Inventories$2,195 
Goodwill541 
Intangible assets, net (customer relationships)10,636 
Total assets$13,372 
Accrued expenses (retirement benefit obligation)$314 
Total liabilities$314 

The Company recognized a pre-tax loss of ¥240,445,000 Japanese Yen ($1,539,000 U.S. Dollars based on the closing-date foreign exchange rate), which includes direct costs associated with the divestiture incurred during the three-month period ended April 5, 2026 of ¥82,895,000 Japanese Yen ($530,000 U.S. Dollars based on the closing-date foreign exchange rate) and is presented within “Other income (expense)” in the Consolidated Statements of Operations for the three-month period ended April 5, 2026. The transaction did not have a material impact on the Company’s income tax expense or tax position.
The divested business was not considered core to the Company’s operations and its sale does not represent a strategic shift that would have a major effect on the Company’s operations or financial results. For the year ended December 31, 2025, the divested business accounted for approximately 2% of the Company’s overall revenue. Accordingly, the transaction does not meet the criteria for discontinued operations presentation and as a result, the results of operations of the disposal group are presented within continued operations for the three-month period ended April 5, 2026. The business was not a reportable segment and was included within the Company’s single operating segment as described in Note 13, Segment Information.
The Company allocated ¥1,661,888,000 Japanese Yen ($10,636,000 U.S. Dollars based on the closing-date foreign exchange rate) of net customer relationships to the disposal group based on the relative fair value attributable to the disposal group using an income approach, which the Company determined to be the most appropriate basis for allocation as it best reflects the economic benefits and expected future cash flows associated with these relationships. The income approach is consistent with the valuation methodology used in the original acquisition‑date valuation and incorporates management’s best estimates and assumptions that a market participant would consider.
The Company allocated ¥84,563,000 Japanese Yen ($541,000 U.S. Dollars based on the closing-date foreign exchange rate) of goodwill to the disposal group based on its relative fair value compared to the Company’s total fair value. Following the divestiture, the remaining goodwill associated with the continuing reporting unit was supported by a substantial excess of fair value of the reporting unit over its carrying value, and therefore no impairment charge was recognized.
v3.26.1
Subsequent Events
3 Months Ended
Apr. 05, 2026
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On May 6, 2026, the Board declared a cash dividend of $0.085 per share. The dividend is payable on June 4, 2026 to all shareholders of record as of the close of business on May 21, 2026.
Additionally, on April 29, 2026, the shareholders of the Company approved an amendment to the Cognex Corporation 2023 Stock Option and Incentive Plan (the “2023 Plan”) to increase the maximum amount of shares of common stock available to be issued under the plan by 4,600,000 shares.
v3.26.1
Summary of Significant Accounting Policies (Policies)
3 Months Ended
Apr. 05, 2026
Accounting Policies [Abstract]  
New Pronouncements New Pronouncements
Accounting Standards Update (ASU) 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40)
This ASU aims to enhance transparency for users of financial statements by requiring public business entities to disaggregate specific expense categories. ASU 2024-03 mandates disclosures in the notes to financial statements detailing the composition and trends of key expense categories within major income statement captions. These enhanced disclosures are intended to help investors more effectively assess the entity’s performance, understand its cost structure, and make more accurate forecasts of future cash flows. For public business entities, ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. The adoption will result in disclosure changes only. Management is currently evaluating the impact that adopting ASU 2024-03 would have on the Company's financial statement disclosures.
Accounting Standards Update (ASU) 2025-06 - Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software
The amendments in this ASU update the accounting and disclosure guidance for internal-use software to better reflect modern, iterative development practices. The amendments replace the former “development stage” model with a judgment-based framework and require entities to evaluate whether significant development uncertainty exists before capitalizing costs. The ASU also incorporates website development guidance into Subtopic 350-40 and aligns disclosures for capitalized software with those for property, plant, and equipment. For public business entities, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2027, and for interim periods within those annual reporting periods, with early adoption permitted. Management is currently evaluating the impact that adopting ASU 2025-06 would have on the Company's financial statements and disclosures.
Accounting Standards Update (ASU) 2025-11 - Interim Reporting (Topic 270): Narrow-Scope Improvements
The amendments in this ASU improve the navigability and clarity of interim reporting requirements without changing the fundamental nature or scope of existing disclosures. The ASU also clarifies when Topic 270 applies, specifies the form and content of interim financial statements and notes, and introduces a comprehensive list of required interim disclosures compiled from across the Codification. The ASU also adds a disclosure principle requiring entities to disclose events occurring after the most recent annual reporting period that have a material impact on the entity. For public business entities, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2027, and for interim periods within annual reporting periods beginning after December 15, 2028, with early adoption permitted. Management is currently evaluating the impact that adopting ASU 2025-11 would have on the Company's disclosures.
Accounting Standards Update (ASU) 2025-12 - Codification Improvements
The amendments in this ASU make incremental improvements to clarify, correct, and enhance the usability of the Accounting Standards Codification. The amendments address technical corrections, unintended application issues,
and minor improvements across numerous topics, and are not expected to significantly affect current accounting practice. Key areas of clarification include diluted earnings per share calculations, disclosure requirements for lease receivables, guidance on beneficial interests, methods for accounting for treasury stock retirements, and the treatment of receivables transferred from contracts with customers. For public business entities, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2026, and for interim periods within those annual reporting periods, with early adoption permitted. Management is currently evaluating the impact that adopting ASU 2025-10 would have on the Company's financial statements and disclosures.
v3.26.1
Financial Instruments (Tables)
3 Months Ended
Apr. 05, 2026
Fair Value Disclosures [Abstract]  
Summary of Available-for-Sale Investments
The following table summarizes the Company’s cash, cash equivalents, and investments as of April 5, 2026 (in thousands):
Fair Value LevelAmortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair ValueCash and Cash EquivalentsCurrent InvestmentsNon-current Investments
Cash$178,191 $— $— $178,191 $178,191 $— $— 
Money market instrumentsLevel 159,152 — — 59,152 59,152 — — 
Corporate bondsLevel 2360,314 1,399 (1,304)360,409 — 58,428 301,981 
Treasury notesLevel 220,365 26 (26)20,365 — 985 19,380 
Asset-backed securitiesLevel 24,116 — (291)3,825 — — 3,825 
Total$622,138 $1,425 $(1,621)$621,942 $237,343 $59,413 $325,186 
The following table summarizes the Company’s cash, cash equivalents, and investments as of December 31, 2025 (in thousands):
Fair Value LevelAmortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair ValueCash and Cash EquivalentsCurrent InvestmentsNon-current Investments
Cash$199,755 $— $— $199,755 $199,755 $— $— 
Money market instrumentsLevel 163,170 — — 63,170 63,170 — — 
Corporate bondsLevel 2342,442 3,149 (240)345,351 — 66,625 278,726 
Treasury notesLevel 229,676 167 — 29,843 — 7,412 22,431 
Asset-backed securitiesLevel 24,471 — (289)4,182 — — 4,182 
Total$639,514 $3,316 $(529)$642,301 $262,925 $74,037 $305,339 
Realized Gain (Loss) on Investments
The following table summarizes the Company's gross realized gains and losses on the sale of debt securities for the three-month periods ended April 5, 2026 and March 30, 2025 (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Gross realized gains$28 $27 
Gross realized losses — 
Net realized gains (losses)$28 $27 
Effective Maturity Dates of Available-for-Sale Investments
The following table presents the effective maturity dates of the Company’s available-for-sale investments as of April 5, 2026 (in thousands):
<1 year1-2 Years2-3 Years3-4 Years4-5 YearsTotal
Corporate bonds$58,428 $82,557 $115,212 $53,935 $50,277 $360,409 
Treasury notes985 17,389 1,991 — — 20,365 
Asset-backed securities— — — 3,728 97 3,825 
$59,413 $99,946 $117,203 $57,663 $50,374 $384,599 
Schedule of Notional Amounts of Outstanding Derivative Positions
The Company had the following outstanding forward contracts (in thousands):
April 5, 2026December 31, 2025
CurrencyNotional
Value
USD
Equivalent
Notional
Value
USD
Equivalent
Derivatives Not Designated as Hedging Instruments:
Singapore Dollar34,000 $27,335 — $— 
Chinese Renminbi170,000 24,734 20,000 2,865 
Euro15,000 17,343 — — 
Mexican Peso150,000 8,380 160,000 8,881 
Hungarian Forint2,500,000 7,517 2,500,000 7,600 
British Pound4,000 5,297 4,000 5,383 
Japanese Yen800,000 5,034 400,000 2,563 
Swiss Franc2,000 2,515 — — 
Indian Rupee225,000 2,399 400,000 4,436 
Korean Won3,000,000 1,988 9,000,000 6,239 
Offsetting Assets
Information regarding the fair value of the outstanding forward contracts was as follows (in thousands):
Asset DerivativesLiability Derivatives
Fair ValueFair Value
Balance Sheet LocationFair Value LevelApril 5, 2026December 31, 2025Balance Sheet LocationFair Value LevelApril 5, 2026December 31, 2025
Derivatives Not Designated as Hedging Instruments:
Economic hedge forward contractsPrepaid expenses and other current assetsLevel 2$985 $791 Accrued expensesLevel 2$1,856 $367 
Activity:
Gross amounts recognized$985 $791 $1,856 $367 
Gross amounts offset —  — 
Net amounts presented on the Consolidated Balance Sheets$985 $791 $1,856 $367 
Derivative Instruments, Gain (Loss)
Information regarding the effect of derivative instruments on the Consolidated Statements of Operations was as follows (in thousands):
Statement of Operations LocationThree-months Ended
April 5, 2026March 30, 2025
Derivatives Not Designated as Hedging Instruments:
Gains (losses) recognized in current operationsForeign currency gain (loss)$(761)$(547)
Gross Unrealized Losses and Fair Values for Available-for-Sale Investments
The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of April 5, 2026 (in thousands):
Unrealized Loss Position For:
Less than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Corporate bonds$138,944 $(1,242)$11,537 $(62)$150,481 $(1,304)
Treasury notes7,167 (26)— — 7,167 (26)
Asset-backed securities— — 3,825 (291)3,825 (291)
$146,111 $(1,268)$15,362 $(353)$161,473 $(1,621)
The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of December 31, 2025 (in thousands):
Unrealized Loss Position For:
Less than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Fair ValueUnrealized
Losses
Corporate bonds$30,602 $(73)$22,412 $(167)$53,014 $(240)
Asset-backed securities— — 4,182 (289)4,182 (289)
$30,602 $(73)$26,594 $(456)$57,196 $(529)
v3.26.1
Inventories (Tables)
3 Months Ended
Apr. 05, 2026
Inventory Disclosure [Abstract]  
Schedule of Inventories
Inventories consisted of the following (in thousands):
April 5, 2026December 31, 2025
Raw materials$69,896 $75,417 
Work-in-process6,446 4,877 
Finished goods59,207 57,595 
$135,549 $137,889 
v3.26.1
Goodwill and Intangible Assets (Tables)
3 Months Ended
Apr. 05, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill
The changes in the carrying value of goodwill were as follows (in thousands):
Balance as of December 31, 2025$386,279 
Business disposal (refer to Note 13)(541)
Foreign exchange rate changes(2,920)
Balance as of April 5, 2026$382,818 
Schedule of Intangible Assets
Amortized intangible assets as of April 5, 2026 consisted of the following (in thousands):
Gross
Carrying
Value
Accumulated
Amortization
Net
Carrying
Value
Customer relationships$54,907 $(13,760)$41,147 
Completed technologies58,175 (32,320)25,855 
Trademarks799 (666)133 
Non-compete agreements60 (55)5 
Balance as of April 5, 2026$113,941 $(46,801)$67,140 
Amortized intangible assets as of December 31, 2025 consisted of the following (in thousands):
Gross
Carrying
Value
Accumulated
Amortization
Net
Carrying
Value
Customer relationships$68,241 $(14,843)$53,398 
Completed technologies58,603 (31,110)27,493 
Trademarks812 (610)202 
Non-compete agreements60 (53)
Balance as of December 31, 2025$127,716 $(46,616)$81,100 
Schedule of Intangible Assets, Future Amortization Expense
Future amortization expense related to intangible assets as of April 5, 2026 is as follows (in thousands):
Amount
Remainder of fiscal 2026$6,611 
20277,968 
20287,238 
20297,238 
20306,695 
20316,695 
Thereafter24,695 
$67,140 
On April 1, 2026, the Company completed the divestiture of its Japan-focused trading business, which was originally acquired as part of the acquisition of Moritex Corporation in 2023. In connection with the divestiture, the Company derecognized $541,000 of goodwill and $10,636,000 of customer relationship intangible assets, representing the net carrying amounts attributable to the disposed business.
v3.26.1
Warranty Obligations (Tables)
3 Months Ended
Apr. 05, 2026
Product Warranties Disclosures [Abstract]  
Changes in Warranty Obligations
The changes in the warranty obligation for the three-month periods ended April 5, 2026 and March 30, 2025 were as follows (in thousands):
Balance as of December 31, 2025$5,474 
Provisions for warranties issued during the period1,301 
Fulfillment of warranty obligations(1,127)
Balance as of April 5, 2026$5,648 
Balance as of December 31, 2024$5,140 
Provisions for warranties issued during the period1,453 
Fulfillment of warranty obligations(873)
Foreign exchange rate changes
Balance as of March 30, 2025$5,728 
v3.26.1
Stockholder's Equity (Tables)
3 Months Ended
Apr. 05, 2026
Equity [Abstract]  
Share-Based Payment Arrangement, Activity
The following table summarizes the number of stock-based awards granted by the Company and the weighted-average grant-date fair value per unit for the three-month periods ended April 5, 2026 and March 30, 2025:
Three-months Ended
April 5, 2026March 30, 2025
Stock-Based Awards Granted
(in 
thousands)
Weighted-
Average
Grant-Date Fair Value
Stock-Based Awards Granted
(in 
thousands)
Weighted-
Average
Grant-Date Fair Value
Stock options326 $22.13 1,360 $12.32 
Restricted stock units745 $56.36 1,248 $32.35 
Performance restricted stock units71 $56.13 184 $32.14 
1,142 2,792 
Stock-Based Compensation Expense
The following table presents the stock-based compensation expense by caption for each period presented on the Consolidated Statements of Operations (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Cost of revenue$925 $668 
Research, development, and engineering5,094 $4,696 
Selling, general, and administrative5,914 $4,575 
Total stock-based compensation expense$11,933 $9,939 
v3.26.1
Revenue Recognition (Tables)
3 Months Ended
Apr. 05, 2026
Revenue from Contract with Customer [Abstract]  
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue
The following table summarizes disaggregated revenue information by geographic area based upon the customer's country of domicile (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Americas$121,301 $99,374 
Europe63,815 46,790 
Greater China37,759 26,946 
Other Asia45,562 42,926 
268,437 216,036 
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue
The following table summarizes disaggregated revenue information by revenue type (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Standard products and services254,439 204,510 
Application-specific customer solutions13,998 11,526 
268,437 216,036 
Deferred Revenue, by Arrangement, Disclosure
The following table summarizes the deferred revenue and customer deposits activity for the three-month periods ended April 5, 2026 and March 30, 2025 (in thousands):
Balance as of December 31, 2025$21,094 
Deferral of revenue billed in the current period, net of recognition21,134 
Recognition of revenue deferred in prior period(8,042)
Reclassified to accounts receivable(203)
Foreign exchange rate changes70 
Balance as of April 5, 2026$34,053 
Balance at December 31, 2024$25,035 
Deferral of revenue billed in the current period, net of recognition22,175 
Recognition of revenue deferred in prior period(7,414)
Foreign exchange rate changes62 
Balance as of March 30, 2025$39,858 
v3.26.1
Earnings per Share (Tables)
3 Months Ended
Apr. 05, 2026
Earnings Per Share [Abstract]  
Calculation of Weighted-Average Shares
The following table shows the computation of basic and diluted earnings per share for the three-month periods ended April 5, 2026 and March 30, 2025 (in thousands, except per share amounts):
Three-months Ended
April 5, 2026March 30, 2025
Net income51,704 23,603 
Basic weighted-average common and common-equivalent shares outstanding166,514 169,265 
Effect of dilutive stock-based awards1,872 1,126 
Diluted weighted-average common and common-equivalent shares outstanding168,386 170,391 
Earnings per share
Basic0.31 0.14 
Diluted0.31 0.14 
v3.26.1
Segment Information (Tables)
3 Months Ended
Apr. 05, 2026
Segment Reporting [Abstract]  
Segment Reporting The following table summarizes significant segment expenses, which represents the difference between segment revenue and segment net income (in thousands):
Three-months Ended
April 5, 2026March 30, 2025
Revenue$268,437 $216,036 
Less:
Cost of revenue (1)
77,498 71,713 
Gross profit190,939 144,323 
Less:
Research, development, and engineering expenses
Salaries and fringe benefits19,074 18,274 
Incentive compensation (2)
2,024 1,071 
Stock-based compensation5,094 4,696 
Depreciation and amortization502 755 
Other segment expenses (3)
10,331 9,931 
Total research, development, and engineering expenses37,025 34,727 
Selling, general, and administrative expenses
Salaries and fringe benefits45,026 42,195 
Incentive compensation (2)
14,326 10,882 
Stock-based compensation5,914 4,575 
Depreciation and amortization3,666 4,161 
Other segment expenses (3)
25,109 21,691 
Total selling, general, and administrative expenses94,041 83,504 
Operating income59,873 26,092 
Foreign currency gain (loss)(1,345)(2,453)
Investment income4,836 3,990 
Other income (expense)(1,607)169 
Income before income tax expense61,757 27,798 
Income tax expense10,053 4,195 
Net income$51,704 $23,603 
(1) Cost of revenue includes depreciation and amortization expense (including amortization of acquired technologies) of $3,067,000 and $3,018,000 for the three-month periods ended April 5, 2026 and March 30, 2025, respectively.
(2) Incentive compensation includes company bonus and sales commissions.
(3) Other segment expenses include outside services, prototyping materials, sales demonstration equipment, travel and entertainment, marketing programs, rent, and reorganization charges, among other less significant expenses.
Segment assets amounted to $2,005,618,000 and $2,016,555,000 as of April 5, 2026 and December 31, 2025, respectively.
v3.26.1
Business Disposal (Tables)
3 Months Ended
Apr. 05, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Major Assets and Liabilities Included as Part of Disposal Group
Carrying amounts of major assets and liabilities included as part of the disposal group were as follows (in thousands):
Amount
Inventories$2,195 
Goodwill541 
Intangible assets, net (customer relationships)10,636 
Total assets$13,372 
Accrued expenses (retirement benefit obligation)$314 
Total liabilities$314 
v3.26.1
Financial Instruments - Components of Cash, Cash Equivalents, and Investments (Details) - USD ($)
$ in Thousands
Apr. 05, 2026
Dec. 31, 2025
Debt Securities, Available-for-sale    
Cash and cash equivalents $ 237,343 $ 262,925
Gross Unrealized Losses (1,621) (529)
Gross Unrealized Gains 1,425 3,316
Debt Securities, Available-for-Sale, Total 384,599  
Total 622,138 639,514
Fair Value 621,942 642,301
Current Investments 59,413 74,037
Non-current Investments 325,186 305,339
Corporate bonds    
Debt Securities, Available-for-sale    
Amortized Cost 360,314 342,442
Gross Unrealized Losses (1,304) (240)
Gross Unrealized Gains 1,399 3,149
Debt Securities, Available-for-Sale, Total 360,409 345,351
Current Investments 58,428 66,625
Non-current Investments 301,981 278,726
Treasury notes    
Debt Securities, Available-for-sale    
Amortized Cost 20,365 29,676
Gross Unrealized Losses (26) 0
Gross Unrealized Gains 26 167
Debt Securities, Available-for-Sale, Total 20,365 29,843
Current Investments 985 7,412
Non-current Investments 19,380 22,431
Asset-backed securities    
Debt Securities, Available-for-sale    
Amortized Cost 4,116 4,471
Gross Unrealized Losses (291) (289)
Gross Unrealized Gains 0 0
Debt Securities, Available-for-Sale, Total 3,825 4,182
Current Investments 0 0
Non-current Investments 3,825 4,182
Cash    
Debt Securities, Available-for-sale    
Cash and cash equivalents 178,191 199,755
Cash and cash equivalents, fair value 178,191 199,755
Money market instruments    
Debt Securities, Available-for-sale    
Cash and cash equivalents 59,152 63,170
Cash and cash equivalents, fair value $ 59,152 $ 63,170
v3.26.1
Financial Instruments - Narrative (Details) - USD ($)
3 Months Ended
Apr. 05, 2026
Dec. 31, 2025
Cash and Cash Equivalents [Line Items]    
Debt securities, available-for-sale, allowance for credit loss $ 0 $ 0
Balance Sheet Location [Axis]: us-gaap:PrepaidExpenseAndOtherAssetsCurrent    
Cash and Cash Equivalents [Line Items]    
Accrued interest receivable $ 3,793,000 $ 3,852,000
Not Designated as Hedging Instrument    
Cash and Cash Equivalents [Line Items]    
Remaining maturity of foreign currency derivatives (up to) 1 year  
Foreign Currency Derivative, Average Remaining Maturity Period 3 months  
v3.26.1
Financial Instruments - Gross Realized Gains and Losses on the Sale of Debt Securities (Details) - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Fair Value Disclosures [Abstract]    
Gross realized gains $ 28 $ 27
Gross realized losses 0 0
Net realized gains (losses) $ 28 $ 27
v3.26.1
Financial Instruments - Gross Unrealized Losses and Fair Values for Available-for-Sale Investments (Details) - USD ($)
$ in Thousands
Apr. 05, 2026
Dec. 31, 2025
Debt Securities, Available-for-sale    
Fair value, less than 12 months $ 146,111 $ 30,602
Unrealized losses, less than 12 months (1,268) (73)
Fair value, 12 months or greater 15,362 26,594
Unrealized losses, 12 months or greater (353) (456)
Total fair value 161,473 57,196
Total unrealized Losses (1,621) (529)
Corporate bonds    
Debt Securities, Available-for-sale    
Fair value, less than 12 months 138,944 30,602
Unrealized losses, less than 12 months (1,242) (73)
Fair value, 12 months or greater 11,537 22,412
Unrealized losses, 12 months or greater (62) (167)
Total fair value 150,481 53,014
Total unrealized Losses (1,304) (240)
Treasury notes    
Debt Securities, Available-for-sale    
Fair value, less than 12 months 7,167  
Unrealized losses, less than 12 months (26)  
Fair value, 12 months or greater 0  
Unrealized losses, 12 months or greater 0  
Total fair value 7,167  
Total unrealized Losses (26)  
Asset-backed securities    
Debt Securities, Available-for-sale    
Fair value, less than 12 months 0 0
Unrealized losses, less than 12 months 0 0
Fair value, 12 months or greater 3,825 4,182
Unrealized losses, 12 months or greater (291) (289)
Total fair value 3,825 4,182
Total unrealized Losses $ (291) $ (289)
v3.26.1
Financial Instruments - Effective Maturity Dates of Available-for-Sale Investments (Details) - USD ($)
$ in Thousands
Apr. 05, 2026
Dec. 31, 2025
Debt Securities, Available-for-sale    
less than 1 year $ 59,413  
1-2 Years 99,946  
2-3 Years 117,203  
3-4 Years 57,663  
4-5 Years 50,374  
Debt Securities, Available-for-Sale, Total 384,599  
Corporate bonds    
Debt Securities, Available-for-sale    
less than 1 year 58,428  
1-2 Years 82,557  
2-3 Years 115,212  
3-4 Years 53,935  
4-5 Years 50,277  
Debt Securities, Available-for-Sale, Total 360,409 $ 345,351
Treasury notes    
Debt Securities, Available-for-sale    
less than 1 year 985  
1-2 Years 17,389  
2-3 Years 1,991  
3-4 Years 0  
4-5 Years 0  
Debt Securities, Available-for-Sale, Total 20,365 29,843
Asset-backed securities    
Debt Securities, Available-for-sale    
less than 1 year 0  
1-2 Years 0  
2-3 Years 0  
3-4 Years 3,728  
4-5 Years 97  
Debt Securities, Available-for-Sale, Total $ 3,825 $ 4,182
v3.26.1
Financial Instruments - Outstanding Forward Contracts (Details) - Not Designated as Hedging Instrument
€ in Thousands, ₩ in Thousands, ₨ in Thousands, ¥ in Thousands, ¥ in Thousands, £ in Thousands, SFr in Thousands, Ft in Thousands, $ in Thousands, $ in Thousands, $ in Thousands
Apr. 05, 2026
SGD ($)
Apr. 05, 2026
USD ($)
Apr. 05, 2026
CNY (¥)
Apr. 05, 2026
EUR (€)
Apr. 05, 2026
MXN ($)
Apr. 05, 2026
HUF (Ft)
Apr. 05, 2026
GBP (£)
Apr. 05, 2026
JPY (¥)
Apr. 05, 2026
CHF (SFr)
Apr. 05, 2026
INR (₨)
Apr. 05, 2026
KRW (₩)
Dec. 31, 2025
SGD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2025
CNY (¥)
Dec. 31, 2025
EUR (€)
Dec. 31, 2025
MXN ($)
Dec. 31, 2025
HUF (Ft)
Dec. 31, 2025
GBP (£)
Dec. 31, 2025
JPY (¥)
Dec. 31, 2025
INR (₨)
Dec. 31, 2025
KRW (₩)
Mar. 30, 2025
USD ($)
Mar. 30, 2025
CHF (SFr)
Singapore Dollar                                              
Derivative [Line Items]                                              
Outstanding forward contracts $ 34,000 $ 27,335                   $ 0 $ 0                    
Chinese Renminbi                                              
Derivative [Line Items]                                              
Outstanding forward contracts   24,734 ¥ 170,000                   2,865 ¥ 20,000                  
Mexican Peso                                              
Derivative [Line Items]                                              
Outstanding forward contracts   8,380     $ 150,000               8,881     $ 160,000              
Hungarian Forint                                              
Derivative [Line Items]                                              
Outstanding forward contracts   7,517       Ft 2,500,000             7,600       Ft 2,500,000            
British Pound                                              
Derivative [Line Items]                                              
Outstanding forward contracts   5,297         £ 4,000           5,383         £ 4,000          
Japanese Yen                                              
Derivative [Line Items]                                              
Outstanding forward contracts   5,034           ¥ 800,000         2,563           ¥ 400,000        
Euro                                              
Derivative [Line Items]                                              
Outstanding forward contracts   17,343   € 15,000                 0   € 0                
Swiss Franc                                              
Derivative [Line Items]                                              
Outstanding forward contracts   2,515             SFr 2,000                         $ 0 SFr 0
Indian Rupee                                              
Derivative [Line Items]                                              
Outstanding forward contracts   2,399               ₨ 225,000     4,436             ₨ 400,000      
Korean Won                                              
Derivative [Line Items]                                              
Outstanding forward contracts   $ 1,988                 ₩ 3,000,000   $ 6,239               ₩ 9,000,000    
v3.26.1
Financial Instruments - Assets and liabilities presented on a net basis due to the right of offset (Details) - USD ($)
$ in Thousands
Apr. 05, 2026
Dec. 31, 2025
Derivative [Line Items]    
Derivative asset $ 985 $ 791
Derivative liability 1,856 367
Gross amounts recognized 985 791
Gross amounts offset 0 0
Net amounts presented on the Consolidated Balance Sheets 985 791
Gross amounts recognized 1,856 367
Gross amounts offset 0 0
Net amounts presented on the Consolidated Balance Sheets 1,856 367
Not Designated as Hedging Instrument    
Derivative [Line Items]    
Derivative asset 985 791
Derivative liability 1,856 367
Net amounts presented on the Consolidated Balance Sheets 985 791
Net amounts presented on the Consolidated Balance Sheets $ 1,856 $ 367
v3.26.1
Financial Instruments - Gain (Loss) Recognized in Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Not Designated as Hedging Instrument    
Derivative Instruments, Gain (Loss) [Line Items]    
Gains (losses) recognized in current operations $ (761) $ (547)
v3.26.1
Inventories (Details) - USD ($)
$ in Thousands
Apr. 05, 2026
Dec. 31, 2025
Inventory Disclosure [Abstract]    
Raw materials $ 69,896 $ 75,417
Work-in-process 6,446 4,877
Finished goods 59,207 57,595
Inventories $ 135,549 $ 137,889
v3.26.1
Goodwill and Intangible Assets (Details)
$ in Thousands
3 Months Ended
Apr. 05, 2026
USD ($)
Goodwill [Roll Forward]  
Balance as of December 31, 2025 $ 386,279
Business disposal (refer to Note 13) (541)
Foreign exchange rate changes (2,920)
Balance as of April 5, 2026 $ 382,818
v3.26.1
Goodwill and Intangible Assets - Amortized Assets and Future Amortization Expense (Details) - USD ($)
$ in Thousands
Apr. 05, 2026
Dec. 31, 2025
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks    
Gross Carrying Value $ 113,941 $ 127,716
Accumulated Amortization (46,801) (46,616)
Net Carrying Value 67,140 81,100
Intangible Asset, Finite-Lived, after Accumulated Amortization, Estimated Amortization Expense, Fiscal Year Maturity [Abstract]    
Net Carrying Value 67,140 81,100
Indefinite-lived intangible asset excluding in-process technologies    
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks    
Net Carrying Value 67,140  
Intangible Asset, Finite-Lived, after Accumulated Amortization, Estimated Amortization Expense, Fiscal Year Maturity [Abstract]    
Remainder of fiscal 2026 6,611  
2027 7,968  
2028 7,238  
2029 7,238  
2030 6,695  
2031 6,695  
Thereafter 24,695  
Net Carrying Value 67,140  
Customer relationships    
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks    
Gross Carrying Value 54,907 68,241
Accumulated Amortization (13,760) (14,843)
Net Carrying Value 41,147 53,398
Intangible Asset, Finite-Lived, after Accumulated Amortization, Estimated Amortization Expense, Fiscal Year Maturity [Abstract]    
Net Carrying Value 41,147 53,398
Completed technologies    
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks    
Gross Carrying Value 58,175 58,603
Accumulated Amortization (32,320) (31,110)
Net Carrying Value 25,855 27,493
Intangible Asset, Finite-Lived, after Accumulated Amortization, Estimated Amortization Expense, Fiscal Year Maturity [Abstract]    
Net Carrying Value 25,855 27,493
Trademarks    
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks    
Gross Carrying Value 799 812
Accumulated Amortization (666) (610)
Net Carrying Value 133 202
Intangible Asset, Finite-Lived, after Accumulated Amortization, Estimated Amortization Expense, Fiscal Year Maturity [Abstract]    
Net Carrying Value 133 202
Non-compete agreements    
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks    
Gross Carrying Value 60 60
Accumulated Amortization (55) (53)
Net Carrying Value 5 7
Intangible Asset, Finite-Lived, after Accumulated Amortization, Estimated Amortization Expense, Fiscal Year Maturity [Abstract]    
Net Carrying Value $ 5 $ 7
v3.26.1
Warranty Obligations (Detail) - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Movement in Standard Product Warranty Accrual [Roll Forward]    
Beginning balance $ 5,474 $ 5,140
Provisions for warranties issued during the period 1,301 1,453
Fulfillment of warranty obligations (1,127) (873)
Foreign exchange rate changes   (8)
Ending balance $ 5,648 $ 5,728
v3.26.1
Commitment and Contingencies (Details)
Apr. 05, 2026
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
Outstanding purchase orders $ 50,616,000
v3.26.1
Stockholder's Equity (Details)
3 Months Ended
Apr. 05, 2026
USD ($)
group
shares
Mar. 30, 2025
USD ($)
shares
Feb. 11, 2026
USD ($)
Dec. 31, 2025
USD ($)
Mar. 03, 2022
USD ($)
Equity, Class of Treasury Stock [Line Items]          
Stock-based compensation $ 11,933,000 $ 9,939,000      
Groups within the employee population | group 2        
Estimated annual forfeiture rate for unvested options for senior management 12.00%        
Estimated annual forfeiture rate for unvested options for all other employees 13.00%        
Decrease in compensation expense due to revised estimated forfeiture rates $ 1,576,000 $ 4,789,000      
Unrecognized compensation expense $ 68,857,000        
Weighted average period to be recognized 1 year 9 months 18 days        
Recognized period costs capitalized $ 0     $ 0  
Decrease In Compensation Expense Due To Retirement of former CEO $ 5,031,000        
Performance Restricted Stock Units          
Equity, Class of Treasury Stock [Line Items]          
Award requisite service period 3 years        
Minimum | Performance Restricted Stock Units          
Equity, Class of Treasury Stock [Line Items]          
Award achievement range 0.00%        
Maximum | Performance Restricted Stock Units          
Equity, Class of Treasury Stock [Line Items]          
Award achievement range 120.00%        
Repurchase Program March 2022          
Equity, Class of Treasury Stock [Line Items]          
Stock repurchase program, authorized amount         $ 500,000,000
Shares repurchased (in shares) | shares 2,375,000 3,047,000      
Value of shares repurchased at cost $ 98,995,000 $ 103,413,000      
Remaining authorized repurchase amount $ 16,025,000        
Repurchase Program February 2026          
Equity, Class of Treasury Stock [Line Items]          
Stock repurchase program, authorized amount     $ 500,000,000    
v3.26.1
Stockholder's Equity - Stock-based Awards Granted (Details) - $ / shares
shares in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Granted (in shares) 326 1,360
Granted (in dollars per shares) $ 22.13 $ 12.32
Granted (in shares) 1,142 2,792
Restricted stock units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Granted (in shares) 745 1,248
Granted (in dollars per share) $ 56.36 $ 32.35
Performance restricted stock units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Granted (in shares) 71 184
Granted (in dollars per share) $ 56.13 $ 32.14
v3.26.1
Stockholder's Equity - Stock-Based Compensation Expense (Detail) - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Stock-based compensation expense $ 11,933 $ 9,939
Schedule of Employee Service Share-Based Compensation, Allocation of Recognized Period Costs, by Report Line [Axis]: us-gaap:CostOfGoodsAndServicesSold    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Stock-based compensation expense 925 668
Schedule of Employee Service Share-Based Compensation, Allocation of Recognized Period Costs, by Report Line [Axis]: us-gaap:ResearchAndDevelopmentExpense    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Stock-based compensation expense 5,094 4,696
Schedule of Employee Service Share-Based Compensation, Allocation of Recognized Period Costs, by Report Line [Axis]: us-gaap:SellingGeneralAndAdministrativeExpense    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Stock-based compensation expense $ 5,914 $ 4,575
v3.26.1
Revenue Recognition - Revenue Disaggregated by Geography (Details) - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Disaggregation of Revenue [Line Items]    
Revenue $ 268,437 $ 216,036
Americas    
Disaggregation of Revenue [Line Items]    
Revenue 121,301 99,374
Europe    
Disaggregation of Revenue [Line Items]    
Revenue 63,815 46,790
Greater China    
Disaggregation of Revenue [Line Items]    
Revenue 37,759 26,946
Other Asia    
Disaggregation of Revenue [Line Items]    
Revenue $ 45,562 $ 42,926
v3.26.1
Revenue Recognition - Revenue Disaggregated by Products and Services (Details) - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]    
Revenue $ 268,437 $ 216,036
Standard products and services    
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]    
Revenue 254,439 204,510
Application-specific customer solutions    
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Product and Service, Revenue [Line Items]    
Revenue $ 13,998 $ 11,526
v3.26.1
Revenue Recognition - Additional Information (Details) - USD ($)
Apr. 05, 2026
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]    
Costs to fulfill contract $ 17,224,000 $ 10,592,000
v3.26.1
Revenue Recognition - Deferred Revenue Activity (Details) - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Movement in Deferred Revenue [Roll Forward]    
Balance as of December 31, 2025 $ 21,094 $ 25,035
Deferral of revenue billed in the current period, net of recognition 21,134 22,175
Recognition of revenue deferred in prior period (8,042) (7,414)
Reclassified to accounts receivable (203)  
Foreign exchange rate changes 70 62
Balance as of April 5, 2026 $ 34,053 $ 39,858
v3.26.1
Income Taxes (Details) - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Income Tax Contingency [Line Items]    
Effective tax rate 16.00% 15.00%
Discrete tax expense (benefit) $ 1,179 $ 307
Liability for uncertain tax positions 24,195  
Unrecognized tax benefits, gross, noncurrent liability 21,336  
Unrecognized tax benefits, gross, offset to tax attributes $ 2,859  
Tax years open to examination by Internal Revenue Service 2022 through 2025  
Tax years open to examination by various taxing authorities for other entities 2017 through 2025  
Foreign Tax Authority | Ireland    
Income Tax Contingency [Line Items]    
Statutory tax rate 12.50%  
Foreign Tax Authority | China    
Income Tax Contingency [Line Items]    
Statutory tax rate 25.00%  
Foreign Tax Authority | Korea    
Income Tax Contingency [Line Items]    
Statutory tax rate 22.00%  
Foreign Tax Authority | JAPAN    
Income Tax Contingency [Line Items]    
Statutory tax rate 34.70%  
Domestic Tax Authority    
Income Tax Contingency [Line Items]    
Statutory tax rate 21.00%  
v3.26.1
Earnings per Share - Calculation of Weighted-Average Shares (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Earnings Per Share [Abstract]    
Net income $ 51,704 $ 23,603
Basic weighted-average common shares outstanding (in shares) 166,514 169,265
Effect of dilutive equity awards (in shares) 1,872 1,126
Weighted-average common and common-equivalent shares outstanding (in shares) 168,386 170,391
Earnings per share    
Basic (usd per share) $ 0.31 $ 0.14
Diluted (usd per share) $ 0.31 $ 0.14
v3.26.1
Earnings per Share - Narrative (Details) - shares
shares in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Anti-dilutive securities excluded from computation of earnings per share (shares) 6,362 9,765
Stock options    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Anti-dilutive securities excluded from computation of earnings per share (shares) 5,945 9,765
Restricted stock units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Anti-dilutive securities excluded from computation of earnings per share (shares) 376 0
Performance restricted stock units    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Anti-dilutive securities excluded from computation of earnings per share (shares) 41 0
v3.26.1
Segment Information - Additional Information (Detail)
$ in Thousands
3 Months Ended
Apr. 05, 2026
USD ($)
segment
Dec. 31, 2025
USD ($)
Segment Reporting [Abstract]    
Assets | $ $ 2,005,618 $ 2,016,555
Number of reportable segments | segment 1  
v3.26.1
Segment Information - Disaggregation of Segment Expenses (Details) - USD ($)
$ in Thousands
3 Months Ended
Apr. 05, 2026
Mar. 30, 2025
Segment Reporting [Line Items]    
Revenue $ 268,437 $ 216,036
Cost of revenue 77,498 71,713
Gross profit 190,939 144,323
Stock-based compensation 11,933 9,939
Total research, development, and engineering expenses 37,025 34,727
Total selling, general, and administrative expenses 94,041 83,504
Operating income 59,873 26,092
Foreign currency gain (loss) (1,345) (2,453)
Investment income 4,836 3,990
Other income (expense) (1,607) 169
Income before income tax expense 61,757 27,798
Income tax expense 10,053 4,195
Net income 51,704 23,603
Cost of revenue 3,067 3,018
Research, Development and Engineering Expenses    
Segment Reporting [Line Items]    
Salaries and fringe benefits 19,074 18,274
Incentive compensation 2,024 1,071
Stock-based compensation 5,094 4,696
Depreciation and amortization 502 755
Other Expenses 10,331 9,931
Segment, General, And Engineering Expense    
Segment Reporting [Line Items]    
Salaries and fringe benefits 45,026 42,195
Incentive compensation 14,326 10,882
Stock-based compensation 5,914 4,575
Depreciation and amortization 3,666 4,161
Other Expenses $ 25,109 $ 21,691
v3.26.1
Business Disposal - Additional Information (Details)
3 Months Ended
Apr. 01, 2026
USD ($)
Apr. 01, 2026
JPY (¥)
Apr. 05, 2026
USD ($)
Apr. 05, 2026
JPY (¥)
Mar. 30, 2025
USD ($)
Apr. 01, 2026
JPY (¥)
Dec. 31, 2025
Disposal Group [Line Items]              
Proceeds from sale of business     $ 11,519,000   $ 0    
Disposal Group | Japan-focused Trading Business              
Disposal Group [Line Items]              
Proceeds from sale of business $ 12,049,000 ¥ 1,882,688,000          
Pre-tax loss     (1,539,000) ¥ (240,445,000)      
Direct costs associated with divestiture     $ (530,000) ¥ (82,895,000)      
Divested business, percentage of Company's overall revenue             2.00%
Intangible assets, net (customer relationships) 10,636,000         ¥ 1,661,888,000  
Goodwill $ 541,000         ¥ 84,563,000  
v3.26.1
Business Disposal - Schedule of Major Assets and Liabilities Included as Part of Disposal Group (Details) - Apr. 01, 2026 - Disposal Group - Japan-focused Trading Business
USD ($)
JPY (¥)
Disposal Group [Line Items]    
Inventories $ 2,195,000  
Goodwill 541,000 ¥ 84,563,000
Intangible assets, net (customer relationships) 10,636,000 ¥ 1,661,888,000
Total assets 13,372,000  
Accrued expenses (retirement benefit obligation) 314,000  
Total liabilities $ 314,000  
v3.26.1
Subsequent Events (Details) - Subsequent Event - $ / shares
May 06, 2026
Apr. 29, 2026
Subsequent Event [Line Items]    
Dividends (in dollars per share) $ 0.085  
2023 Plan    
Subsequent Event [Line Items]    
Additional shares available for grant under stock option plans (in shares)   4,600,000