Business Wire·Nov 9, 2026, 4:45 PM ET

Novanta Announces Financial Results for the Third Quarter 2026

Novanta Inc. reported third quarter 2026 GAAP revenue of $305 million, a 23% increase year-over-year.
GAAP net income for the quarter was $2 million, while GAAP diluted EPS was $0.05.
Adjusted EBITDA rose 38% to $80 million, with an adjusted diluted EPS of $1.05, up 21%.
Customer bookings increased 29%, expanding the backlog to $543 million.
The company closed its largest acquisition in history, Riverpoint Medical, contributing $32.9 million to revenue growth.
GAAP operating income decreased to $13.9 million from $21.8 million in the prior year.
Organic revenue growth was 9.9%, excluding acquisition impacts and foreign currency effects.
Automation Enabling Technologies segment revenue was $145 million with a 50.2% gross profit margin.
Medical Solutions segment revenue was $160 million with a 39.9% gross profit margin.
Operating cash flow for the quarter was $39.3 million, compared to $8.5 million in the prior year.
Full year 2026 GAAP revenue is now guided to $1,135–$1,140 million, reflecting ~16% reported growth.
Full year 2026 Adjusted EBITDA is guided to $274–$277 million, and Adjusted Diluted EPS to $3.66–$3.71.
Fourth quarter 2026 GAAP revenue is expected between $306–$312 million, with Adjusted EBITDA of $76–$79 million.
Novanta expects reported revenue growth of more than 15% for the full year 2027.
Net debt increased to $689 million due to acquisition financing, while cash and equivalents decreased to $149 million.