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Mar 31, 2023
Novanta Q1 2023 Earnings Report
Novanta's first quarter results for 2023 showed revenue growth and solid performance, driven by strong growth in medical end-markets.
Key Takeaways
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.
GAAP Revenue increased 7% to $219 million.
GAAP Net Income was $18 million.
Adjusted Earnings Per Share reached $0.74.
Adjusted EBITDA amounted to $47 million.
Novanta
Novanta
Novanta Revenue by Segment
Revenue by Segment
Medical Solutions Revenue
CapyFin.com Forward Guidance
For the second quarter of 2023, the Company expects GAAP revenue of approximately $222 million to $225 million. The Company expects Adjusted EBITDA to be in the range of $47 million to $49 million and Adjusted Diluted EPS to be in the range of $0.70 to $0.74.