Cognex Corporation
11/03/2025 | Press release | Distributed by Public on 11/03/2025 07:39
Change in Certifying Accountants (Form 8-K)
Item 4.01 - Changes in Registrant's Certifying Accountant
On October 29, 2025, the Audit Committee of the Board of Directors (the "Audit Committee") of Cognex Corporation (the "Company") notified Grant Thornton LLP ("GT"), the Company's independent registered public accounting firm, that the Audit Committee selected KPMG LLP ("KPMG") as the Company's independent registered public accounting firm for the Company's fiscal year ending December 31, 2026, subject to the completion of KPMG's standard client acceptance procedures and execution of an engagement letter.
Over the past three years, the Audit Committee has been taking a number of steps towards a potential audit firm rotation. The Audit Committee invited several registered public accounting firms to participate in this process. Following an extensive evaluation process, the Audit Committee chose KPMG. GT was previously engaged to audit the Company's consolidated financial statements for the year ending December 31, 2025. The appointment of KPMG does not affect GT's engagement for the year ending December 31, 2025.
GT's reports on the Company's consolidated financial statements as of and for the fiscal years ended December 31, 2023 and 2024 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. Further, during the fiscal years ended December 31, 2023 and 2024, and the subsequent interim period through October 29, 2025, there were: (i) no disagreements within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions between the Company and GT on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to GT's satisfaction, would have caused GT to make reference thereto in their reports; and (ii) no "reportable events" within the meaning of Item 304(a)(1)(v) of Regulation S-K.
The Company requested that GT furnish a letter addressed to the Securities and Exchange Commission stating whether it agrees with the above statements. A copy of GT's letter, dated November 3, 2025, is filed as Exhibit 16.1 to this Form 8-K.
During the fiscal years ended December 31, 2023 and 2024 and the subsequent interim period through October 29, 2025, neither the Company nor anyone on its behalf has consulted with KPMG regarding: (i) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements, and neither a written report nor oral advice was provided to the Company that KPMG concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue; (ii) any matter that was the subject of a disagreement within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions; or (iii) any reportable event within the meaning of Item 304(a)(1)(v) of Regulation S-K.
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