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Dec 31, 2021
Novanta Q4 2021 Earnings Report
Novanta demonstrated strong double-digit growth in sales, bookings, and profit.
Key Takeaways
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.
GAAP revenue of $199.0 million, an increase of 34.9% versus Q4 2020.
Acquisition activities resulted in an increase in revenue of $32.1 million, or 21.8%, compared to Q4 2020.
GAAP operating income was $21.7 million, compared to $17.1 million in Q4 2020.
Adjusted EBITDA was $42.6 million, compared to $32.4 million in Q4 2020.
Novanta
Novanta
Forward Guidance
For the first quarter of 2022, the Company expects GAAP revenue to be in the range of approximately $192 million to $200 million. The Company expects Adjusted Gross Profit Margin to be approximately 44.5%. The Company expects Adjusted EBITDA to be in the range of $38 million to $41 million and Adjusted Diluted EPS to be in the range of $0.60 to $0.66.
Positive Outlook
- GAAP revenue to be in the range of approximately $192 million to $200 million.
- Adjusted Gross Profit Margin to be approximately 44.5%.
- Adjusted EBITDA to be in the range of $38 million to $41 million
- Adjusted Diluted EPS to be in the range of $0.60 to $0.66.
- GAAP revenue to be in the range of approximately $825 million to $845 million for full year 2022.
Challenges Ahead
- We are experiencing near-term raw material shortages and disruptions
- cost inflation in our supply chain
- The Company’s guidance assumes no significant changes in foreign exchange rates.
- Adjusted EBITDA to be in the range of $172 million to $182 million for full year 2022.
- Adjusted Diluted EPS to be in the range of $2.85 to $3.00 for full year 2022.