Novanta Earnings Reports

Novanta posted strong Q4 2024 results with revenue increasing by 12.5% year-over-year to $238.1 million. Net income rose to $16.5 million, and adjusted EPS grew 21% to $0.76. Operating cash flow saw a significant increase of 58%, indicating strong financial performance.

Novanta reported a 10.3% increase in GAAP revenue to $244.4 million for Q3 2024. The company's adjusted EPS was $0.85, and adjusted EBITDA reached $57 million. Customer bookings increased 13% year-over-year for core businesses, and minimally invasive surgery products achieved a book-to-bill ratio of 1.4.

Novanta's Q2 2024 results showed a revenue of $236 million, an adjusted gross profit margin of 47%, adjusted EBITDA of $51 million, and operating cash flow of $41 million. While industrial capital spending markets remain weak, new products have seen increased adoption and medical device end-markets remain strong.

Novanta's first quarter 2024 results showed revenue of $231 million, adjusted gross margin of 46.3%, adjusted EBITDA of $50 million, and a significant increase in operating cash flow year-over-year. The company is pleased with the integration of the Motion Solutions acquisition.

Novanta's Q4 2023 saw a slight decrease in revenue compared to Q4 2022, but the company delivered revenue and profit performance above expectations. Full year 2023 results included record revenue, adjusted gross margin, and adjusted EBITDA.

Novanta's Q3 2023 revenue was $221.5 million, a slight decrease of 0.7% year-over-year. GAAP net income reached $21.2 million, with diluted EPS at $0.59. Adjusted EBITDA stood at $52.2 million, and operating cash flow was $44.6 million.

Novanta's Q2 2023 results showed a 7% increase in GAAP revenue to $229 million and a GAAP net income of $21 million. The company benefited from strong growth in medical end-markets and resilient industrial sales, with a focus on innovation and customer satisfaction.

Novanta reported a 7% increase in GAAP revenue to $219 million for the first quarter of 2023. The company's strong performance was driven by growth in medical end-markets and effective execution by the teams.

Novanta Inc. reported a revenue of $218.4 million for Q4 2022, a 9.8% increase compared to Q4 2021. GAAP operating income was $26.8 million, and GAAP net income was $15.3 million. Adjusted Diluted EPS was $0.75, compared to $0.67 in the same quarter last year. The company anticipates continued focus on new product development and driving cash flows in 2023.

Novanta Inc. reported a strong third quarter in 2022, with a 26% increase in GAAP revenue to $223 million and a GAAP consolidated net income of $22 million. The company's Adjusted EBITDA reached $49 million, and Adjusted Earnings Per Share increased to $0.81. Despite inflationary pressures, Novanta's teams delivered excellent financial performance, with customer demand remaining strong and backlog at near-record levels.

Novanta reported a 29% increase in GAAP revenue to $215 million for the second quarter of 2022. The company's GAAP diluted earnings per share increased by 48% to $0.49, and adjusted earnings per share increased by 26% to $0.78. Customer demand remains healthy, with bookings up 25% year over year, resulting in a record backlog of $653 million.

Novanta reported strong first quarter results with a 26% increase in GAAP revenue to $204 million and a 33% increase in Adjusted EBITDA to $43.6 million. Customer demand remains robust across advanced industrial and medical application areas, with customer orders up 11% year over year, resulting in a record backlog of $586 million.

Novanta reported a revenue of $199.0 million for Q4 2021, a 34.9% increase compared to Q4 2020. Customer demand continued to be robust in advanced industrial and medical applications, and customer orders were up 92% year over year.

Novanta's Q3 2021 results showed strong growth, with GAAP revenue of $177.7 million and a significant increase in bookings. The company's performance was driven by robust customer demand in advanced industrial and medical applications, and the successful integration of new acquisitions.

Novanta reported strong financial results for the second quarter of 2021, with double-digit growth in sales, bookings, and profit. Customer demand accelerated in advanced industrial and medical application areas, with bookings increasing 77% year over year. The company is raising its full year guidance.

Novanta's First Quarter 2021 results showed strong performance with sales, bookings, profit, and cash flow exceeding expectations. GAAP revenue was $162.6 million, and adjusted EPS was $0.58. The company saw accelerated demand, particularly in the advanced industrial sector, and launched five new products during the quarter.

Novanta's Q4 2020 revenue reached $147.5 million, a 7.6% decrease year-over-year, but customer orders increased sequentially by 26%. The company expanded Adjusted EBITDA Margins and achieved record cash flows.

Novanta Inc. reported financial results for the third quarter 2020. GAAP revenue was $142.9 million, a decrease of 7.2% year-over-year. GAAP net income was $8.3 million, and diluted EPS was $0.23. Adjusted EBITDA was $30.2 million, and operating cash flow was $42.1 million.

Novanta Inc. reported GAAP revenue of $144.7 million for the second quarter of 2020, a decrease of 6.7% compared to the second quarter of 2019. GAAP net income was $11.7 million, and diluted EPS was $0.33. Adjusted EBITDA was $30.8 million, and operating cash flow was $33.8 million.

Novanta reported GAAP revenue of $155.5 million, a slight decrease of 1.1% compared to Q1 2019. Despite the challenges posed by the COVID-19 pandemic, the company's performance exceeded expectations for revenue, Adjusted EBITDA, and Adjusted EPS. The company ended the quarter with a strong balance sheet, including approximately $74 million in cash and cash equivalents, and a borrowing capacity of $375 million under its revolving credit facility.

Novanta's Q4 2019 revenue was stronger than expected, with the medical business growing at a double-digit pace and new product revenue reaching record levels, despite challenges in industrial capital spending markets.