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Cognex Corporation (NASDAQ:CGNX) announced Monday that its Audit Committee has selected KPMG LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2026. The appointment is subject to KPMG’s completion of standard client acceptance procedures and the execution of an engagement letter.
The decision follows a multi-year evaluation process during which the Audit Committee considered several accounting firms as part of an audit firm rotation. Grant Thornton LLP, which has served as Cognex’s independent auditor, will continue in that role for the audit of the company’s consolidated financial statements for the year ending December 31, 2025.
According to the company’s statement, Grant Thornton’s audit reports for the fiscal years ended December 31, 2023 and 2024 did not include any adverse opinion or disclaimer of opinion and were not qualified or modified regarding uncertainty, audit scope, or accounting principles. The company also reported that, during the fiscal years 2023 and 2024 and through the interim period ending October 29, 2025, there were no disagreements or reportable events between Cognex and Grant Thornton as defined under SEC regulations.
Cognex stated that neither the company nor anyone on its behalf has consulted with KPMG on the application of accounting principles or on any auditing or financial reporting matters during the fiscal years 2023 and 2024 or the interim period through October 29, 2025.
The company has requested that Grant Thornton provide a letter to the Securities and Exchange Commission confirming its agreement with the disclosures made in the filing. This letter is included as an exhibit to the Form 8-K.
This information is based on a press release statement included in the company’s SEC filing.
In other recent news, Cognex Corporation reported strong earnings for the third quarter of 2025, surpassing analyst expectations. The company achieved an adjusted earnings per share (EPS) of $0.33, beating the forecasted $0.29, and reported revenue of $277 million, exceeding the anticipated $261.79 million. Despite these positive results, the stock experienced a decline following the announcement. UBS has reiterated its Buy rating for Cognex, maintaining a price target of $58.00, and expressed confidence in the company’s potential to double its earnings per share from the 2024 base of $0.73. Similarly, KeyBanc maintained its Overweight rating with a $50.00 price target, despite the stock’s recent underperformance. This sell-off came after Cognex reported in-line third-quarter results and provided fourth-quarter guidance, which raised some investor concerns about management’s preliminary 2026 outlook. These developments highlight the mixed reactions from investors and analysts regarding Cognex’s recent performance and future prospects.
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