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NOVT

Novanta Inc.

NOVT

Novanta Inc. • NASDAQ
$113.66 ▲ 0.63% (+0.71)
Market Cap $4.09 B
52w High $173.16
52w Low $98.27
Dividend Yield 0%
P/E 78.39
Volume 152.31K
Outstanding Shares 36.00M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $247.836M ▲ $89.073M ▼ $10.653M ▲ 4.298% ▲ $0.3 ▲ $37.483M ▼
Q2-2025 $241.049M ▲ $91.835M ▲ $4.497M ▼ 1.866% ▼ $0.12 ▼ $43.064M ▼
Q1-2025 $233.366M ▼ $71.933M ▼ $21.208M ▲ 9.088% ▲ $0.59 ▲ $43.529M ▼
Q4-2024 $238.06M ▼ $81.518M ▲ $16.464M ▼ 6.916% ▼ $0.46 ▼ $47.454M ▼
Q3-2024 $244.405M $76.66M $19.192M 7.853% $0.53 $49.209M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $89.221M ▼ $1.506B ▼ $704.335M ▼ $801.476M ▲
Q2-2025 $109.912M ▲ $1.511B ▲ $709.623M ▲ $801.446M ▲
Q1-2025 $106.045M ▼ $1.385B ▼ $615.701M ▼ $769.755M ▲
Q4-2024 $113.989M ▲ $1.389B ▼ $642.813M ▼ $745.698M ▲
Q3-2024 $92.69M $1.419B $676.628M $742.195M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $10.653M ▲ $8.495M ▼ $-5.401M ▲ $-23.42M ▼ $-20.691M ▼ $4.212M ▼
Q2-2025 $4.497M ▼ $15.072M ▼ $-66.561M ▼ $54.832M ▲ $3.867M ▲ $11.684M ▼
Q1-2025 $21.208M ▲ $31.684M ▼ $1.253M ▲ $-42.731M ▼ $-7.944M ▼ $27.4M ▼
Q4-2024 $16.464M ▼ $61.562M ▲ $-2.076M ▲ $-35.616M ▼ $21.299M ▲ $59.313M ▲
Q3-2024 $19.192M $23.026M $-3.561M $-28.881M $-5.778M $19.465M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Automation Enabling Technologies
Automation Enabling Technologies
 $0 ▲$0 ▲$0 ▲$130.00M ▲
Medical Solutions
Medical Solutions
 $0 ▲$0 ▲$0 ▲$120.00M ▲
Advanced Surgery
Advanced Surgery
 $0 ▲$60.00M ▲$60.00M ▲$0 ▼
Precision Manufacturing
Precision Manufacturing
 $0 ▲$40.00M ▲$40.00M ▲$0 ▼
Precision Medicine
Precision Medicine
 $0 ▲$50.00M ▲$60.00M ▲$0 ▼
Robotics and Automation
Robotics and Automation
 $80.00M ▲$80.00M ▲$80.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Novanta’s revenue has climbed steadily over the past several years, showing a clear growth trajectory. Profitability has generally improved as well, with healthy gross margins and operating margins that have held up as the business scaled. Net income and earnings per share rose over time but have flattened out more recently, suggesting that costs, integration of acquisitions, or higher financing and tax expenses may be absorbing some of the revenue gains. Overall, the income statement points to a solid, growing business with good underlying economics, but without explosive profit growth in the most recent year.

Balance Sheet

Balance Sheet The balance sheet looks reasonably robust. Total assets and shareholders’ equity have both increased meaningfully over time, which indicates reinvestment in the business and accumulated retained earnings. Debt has also risen, so the company is more leveraged than it was a few years ago, but the growth in equity provides a cushion. Cash levels have stayed fairly stable, not overly rich but not strained either. In simple terms, Novanta appears to be financing growth with a mix of internal resources and debt, while keeping its financial position generally balanced.

Cash Flow

Cash Flow Novanta consistently generates positive cash from its operations, and it has produced positive free cash flow in each of the past several years. Capital spending is moderate and quite stable, which helps keep free cash flow healthy. The pattern suggests that profits are largely translating into cash, rather than being tied up in working capital or heavy investment. This steady cash generation gives the company flexibility to fund innovation, pay down debt, or pursue acquisitions, even though it is not a “cash gusher” in absolute terms.

Competitive Edge

Competitive Edge Novanta operates in specialized niches—photonics, precision motion, and vision systems—mainly for medical and advanced industrial equipment makers. Its components are often deeply embedded in customers’ systems and co-designed with them, which makes switching suppliers difficult and costly, especially in regulated medical applications. This creates sticky, long-duration relationships and a meaningful competitive moat. At the same time, the company is exposed to capital spending cycles in robotics, manufacturing, and healthcare equipment, and it competes against larger industrial and technology firms, so maintaining this edge requires constant execution.

Innovation and R&D

Innovation and R&D Innovation is a central part of Novanta’s strategy. The company has a broad portfolio of proprietary technologies in lasers, motion control, sensors, imaging, and robotic end-effectors, and it continues to launch new generations of products. Its focus areas—robotics and automation, minimally invasive and robotic surgery, and precision medicine—are all long-term growth themes. The “Novanta Growth System” is designed to systematize product development and continuous improvement. The main risk is that these markets evolve quickly; sustained success will depend on keeping the technology roadmap ahead of rivals and smoothly integrating acquisitions into cohesive platforms.

Summary

Putting it together, Novanta looks like a steadily growing, high-value-add technology supplier with solid margins, consistent free cash flow, and a reasonably strong balance sheet that has taken on more debt to support expansion. Its competitive strength comes from highly engineered, hard-to-replace components and subsystems embedded in medical and industrial equipment, which supports recurring, sticky revenue. The business is well aligned with attractive long-term trends in robotics, automation, and advanced healthcare, but it remains sensitive to capital spending cycles and ongoing innovation demands. Overall, the profile is that of a specialized technology company with durable customer relationships and a clear focus on long-term secular growth, balanced by execution and leverage risks that warrant ongoing monitoring.

NEWS

November 7, 2025 · 7:15 AM UTC

Novanta Inc. Announces Pricing of $550,000,000 Tangible Equity Units Offering

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November 5, 2025 · 4:12 PM UTC

Novanta Inc. Announces Offering of Tangible Equity Units

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November 3, 2025 · 5:00 PM UTC

Novanta Announces Financial Results for the Third Quarter 2025

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October 24, 2025 · 11:00 AM UTC

Novanta Hosts ISO event for Humanoid Robot Safety Standards

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October 21, 2025 · 5:00 PM UTC

Novanta to Present at the Baird 2025 Global Industrial Conference on Tuesday, November 11, 2025

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